Indian News

Finance Minister Nirmala Sitharaman

No timeline to remove I-T exemptions: Sitharaman

Eco/Invest/Demography, Wealth Management       Feb 16, 2020

  HYDERABAD : Finance Minister Nirmala Sitharaman on Sunday said the idea behind introducing second alternative tax slabs sans exemptions is to take the country towards "a simplified, exemption-free and reduced rate of tax regime."   However, there was no timeframe set by the government to remove...

6-7% LIC stake dilution enough to mop up ₹90,000 crore: CEA KV Subramanian

Eco/Invest/Demography, Life, Policy       Feb 16, 2020

NEW DELHI : The government's ₹2.1 lakh crore sell-off target is achievable with half of this amount expected to be met through the spill-over deals of Air India, BPCL and Concor and the remaining ₹90,000 crore through just 6-7 per cent stake dilution in state...

More firms in India complying with CSR norms under Companies Act: Report

Eco/Invest/Demography       Feb 16, 2020

New Delhi: More companies in India are complying with corporate social responsibility norms under the Companies Act, 2013, with 76 per cent firms having spent 2 per cent or more of their profits on such initiatives during 2019, according to a report.   The findings of...

New optional tax regime could adversely affect dwindling savings:Experts

Eco/Invest/Demography, Policy       Feb 16, 2020

New Delhi: The government's proposal to introduce new optional tax regime without exemptions and deductions will adversely effect the savings in India, according to experts.   Finance Minister Nirmala Sitharaman in Budget 2020-21 provided option to personal income tax payers to remain in existing tax scheme...

About 92% of large taxpayers filed annual returns for 2017-18: GSTN

Eco/Invest/Demography       Feb 16, 2020

New Delhi: The GST Network on Sunday said around 92 per cent of large taxpayers with turnover of over Rs 2 crore have filed annual returns for 2017-18 fiscal.   With Goods and services tax launches on July 1, 2017, this is the first time when...

Non-life insurers' Jan premium collection up 7.2% at Rs 17,226 cr

Non-Life       Feb 16, 2020

  New Dlhi: India's non-life insurance companies registered a 7.2 per cent rise in their combined new premium collection at Rs 17,225.75 crore in January this fiscal, Irdai data showed.   The 35 insurers' gross premium collection stood at Rs 16,076.28 crore in the same month a...

Govt allows firms to list global depository receipts at IFSC

Eco/Invest/Demography, Policy       Feb 16, 2020

  New Delhi: Indian companies now have the option to list their global depository receipts at the international financial services centre in Gujarat, with the government amending the rules.   The move would help companies in having another avenue for raising funds.   The corporate affairs ministry has...

Gold imports plunge 9% to $24.64 billion during April-January: Govt data

Eco/Invest/Demography, Wealth Management       Feb 16, 2020

  New Delhi: Gold imports, which have a bearing on the country's current account deficit (CAD), fell about 9 per cent to $24.64 billion (about Rs 1.74 lakh crore) during April-January period of the current financial year, according to Commerce Ministry data.   Imports of the yellow...

FPIs invest Rs 24,617 crore in February

Eco/Invest/Demography       Feb 16, 2020

  New Delhi: Foreign investors remained net buyers in the first half of February by investing a net sum of Rs 24,617 crore in the Indian markets due to positive sentiments post-Budget and the central bank's decision to maintain an accommodative stance in its recent monetary...