Economy

Taking a courtesy call, RBI Governor meets the FM Jaitley ahead of the monetary policy..!

Discussing the current economic situation, ahead of the first bi-monthly monetary policy for 2019-20, RBI Governor Shaktikanta Das on Monday met the Finance Minister Arun Jaitley. "It was a courtesy meeting, there is a tradition of RBI Governor meeting the Finance Minister before monetary policy, so it is part of that," Das said after the meeting...

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Shaping for financial inclusion, FinTech Conclave targets fast tracking investments for Millennial India..!

Presenting the consolidating sector specific findings of the various breakout panels on themes such as Digital Onboarding, Building Financial Products for Millennial India, Emerging Areas of FinTech, Fast Tracking Investments in FinTech Industry and Financial Inclusion of MSMEs, NITI Aayog organised a FinTech Conclave at the national capital. ..

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India's trade deficit narrows; exports up by 2.44%, imports decline by 5.4%

Releasing a worth while data today, the Commerce Ministry narrated the India’s blooming economic position as the trade deficit for the month of February this year have narrowed to 9.6 billion dollars...

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Dices of Vijay Mallya go wrong, Delhi court orders attachment of his properties

First Nirav Modi and now the dices of fugitive Vijay Mallya go wrong as Delhi court has ordered the attachment of his properties in Bengaluru in a case relating to FERA violations. Chief Metropolitan Magistrate Deepak Sherawat issued fresh directions after the Bengaluru Police, through Enforcement Directorate sought more time to execute its earlier order in this regard...

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Targeting disinvestment abide, India crosses the budget mark by Rs 5,000 crores..!

Liquidating the financial assets and the subsidiaries in India, Finance Minister Arun Jaitley on Friday said the government has achieved disinvestment of Rs 85,000 crore in the current fiscal, which is Rs 5,000 crore more than the set target for 2018-19, belying widespread expectations of a shortfall...

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Mehul Choksi moves PLEA in PMLA Court: Submits detailed medical history to evade extradition

Diamantaire Mehul Choksi, one of the accused in the Rs 13 000-crore Punjab National Bank scam, has moved a fresh application and additional submissions before the Prevention of Money Laundering Act (PMLA) court in Mumbai...

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Friday for Fitch ratings..! Indian economic growth estimates reduced to 6.8% for FY 20

Reducing over the India’s economic forecast, the Fitch ratings on Friday estimated the growth forecast at 6.8 per cent from the previous that of 7 per cent, on weaker than expected momentum in the economy for the financial year starting from 1st of April...

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Nirav Modi to be handcuffed till March 29 in UK

A UK court has remanded the fugitive jeweller Nirav Modi, in custody till March 29, saying there are substantial grounds to believe that he would fail to surrender if granted bail. Nirav was arrested in Holborn on Wednesday. He is the main accused in the 13,500 crore rupees Punjab National Bank scam case...

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Reaching the Economic Heights..! India among fastest growing large economies in the world, says IMF

“India has carried out several key reforms in the last five years and more reforms are needed going forward to sustain the high growth, including to harness the demographic dividend opportunity”, said IMF communications director Gerry Rice on Friday lauding India as one of the fastest growing economies in the world...

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Strong reigns and a strong economy..! India faces positive GDP growth marking financial stability..!

Narendra Modi have always been a box of surprises to all.. some see him a complex personality while others see him as a deity..! However, his work, dedication towards the nation and the aspirations he holds for country’s development are worth lauding. Flourishing the economic sector aligned in India, the Modi government has jumped up achieving the label of the fastest growing in the world...

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Start-ups, get relaxed of Angel Taxation..! CBDT approves exemption to 120 of the total concerns..!

Following a month after 127 start-ups got registered with Department for Promotion of Industry and Internal Trade (DPIIT) having applied for angel tax exemption, 120 of them have been granted exemption from the angel taxes, under the Income Tax Act...

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And it’s a thumb down for Nirav Modi, to appear in UK Court today

Thumbs down for Fugitive diamantaire Nirav Modi, the main accused in the USD 2 billion PNB scam case, as he got arrested today by Scotland Yard in London. The arrest came days after a London court issued an arrest warrant against him in response to a request by the Enforcement Directorate for his extradition in a money laundering case. Also, he will be produced at the London court at 5 pm IST. On Tuesday the UK Court had London court has issued an arrest warrant against him...

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Cheer up home buyers..! GST Council seeks to implement lower GST rates citing affordable houses..!

Discussing the operational details for implementation lower effective GST rate of 1% in case of affordable houses and 5% on construction of houses other than affordable house, the 34th GST council analysed the options in respect of the underway projects in the national capital today...

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Focusing on smart mobility solutions, Hyundai and Kia to invest nearly 2000 Cr in Ola

Hyundai Motor Group and Kia Motors Corporation announced a strategic partnership today to invest 300 million dollars (about Rs 2,000 crore) in ride-hailing platform Ola for providing smart mobility solutions...

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Crime though enjoys gets trapped one day; UK court issues arrest warrant against Nirav Modi

There is a proverb in Hindi which means that crime though enjoys at starting but will lose one day. Same is the situation with fugitive diamantaire Nirav Modi as a London court has issued an arrest warrant against him, the main accused in the $2 billion PNB fraud case, in response to a request by the Enforcement Directorate (ED) for his extradition from the UK in a money laundering case, officials said on Monday...

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India, US agree to build 6 nuclear power plants in India

India and the United States and India agreed to strengthen security and civil nuclear cooperation, including building six U.S. nuclear power plants in India, the two countries said in a joint statement on Wednesday...

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Economy of scale..! RBI governor headed panel of regulators discuss issues concerning nation's financial stability

Discussing the ways to address challenges pertaining to the quality of credit ratings and other issues concerning the economy, the financial sector regulators headed by RBI Governor Shaktikanda Das deliberated on the interlinking of various regulatory databases and the National Strategy for Financial Inclusion...

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Wholesale Price Index inflation reaches the heights of 2.93 per cent for February 2019

Economy is considered to be doing good if it maintains inflation around 3% with a GDP growth rate of about 7-8%. Today, most economists favour a low and steady rate of inflation. Central banks or other monetary authorities in most of the countries are tasked with keeping their inter-bank lending rates at low stable levels, normally to a target annual rate of about 2% to 3%. ..

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EC gives go-ahead to the 34th GST Council meeting on March 19

Abide the Lok Sabha elections, considering various economic issues including the one of implementing lower GST rates for the real estate sector, the Election Commission has given the approval for holding the aligned GST Council meeting on 19th of March...

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Stabilizing the business folds, novel directives now to lead the concerns high..!

With the raising push to 'Make In India' and the 'Start-up' ventures, India has witnessed boost over the economy and business standard needs. Revising the national voluntary guidelines on social, environmental and economic responsibilities for business, the Ministry of Corporate Affairs have urged the business concerns nationwide to actualise the principles in letter and spirit. ..

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Oldies.. relax..! Doorstep Banking services now to answer the purpose..!

The State Bank of India, being one of the largest commercial banks has launched doorstep banking services for the senior citizen customers aged above 70 years, differently abled customers and infirm customers including the visually impaired customers. ..

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Rolling out the carpets.. Subhash Chandra Garg chairs as the new Finance Secretary..!

In the wake of Cabinet committee’s decision approving the appointment, the Economic Affairs Secretary Subhash Chandra Garg was designated as the Finance Secretary on Friday...

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Delhi Court extends interim protection from arrest to P Chidambaram and son Karti till March 25

Extending the interim protection from arrest granted to P Chidambaram and his son Karti in the Aircel-Maxis scam cases filed by the CBI and the ED till 25th of March, Delhi Court adjourned the matter for the day...

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Economic concord..! India collaborates with World Bank considering able play of Insolvency and Bankruptcy Code..!

Signing the cooperation agreement on Wednesday with the International Finance Corporation of the World Bank group, the Insolvency and Bankruptcy Board of India gets robust in the effective implementation of the code and its allied rules and regulations...

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Process of reforms to continue..! Focus on lower tax rate and wider tax base, affirms Jaitley

"Government is committed to facilitate trade and industry in the country so that the momentum of the growth continues to move-up. The captains of Indian industry should comply with the recent recommendations of the GST Council with regard to reduction of rates of various items and pass on the benefits to the consumers at large”, said Finance Minister Arun Jaitley chairing the Federation of Indian Chambers of Commerce and Industry (FICCI) delegation in the national capital on Tuesday...

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Another step towards the welfare of Fishermen, 20 fishing jetties would be constructed across the country

Government is taking positive steps for the overall development of Business in the country. Due to the huge coastal area, fishing is one of the most important businesses in India. For promotion the fishing and for benefit of fishermen community, Government announced the construction of 20 new jetties across the country...

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Wednesday charters..! World Bank to provide 250 Million dollar for NRETP to boost rural incomes in India

Viewing to promote women owned and women led farm and non-farm enterprises across value chains the Indian government and the World Bank have signed a USD 250 million agreement for the National Rural Economic Transformation Project (NREPT) in the national capital on Wednesday...

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Jharkhand all set to export energy to Bangladesh; this 14000 Cr Adani SEZ project to change thousand lives

Now energy to Bangladesh will be exported soon as an Rs 14,000-crore special economic zone (SEZ) project of Adani Power in Jharkhand has been approved. The project was approved by highest decision making body on SEZ - Board of Approval - chaired by the commerce secretary, in its meeting on February 25, the government official said...

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February's GST revenue collections boost up by 13.12%..!

The GST revenue collection for the month of February has witnessed the growth of 13.12 per cent as compared to that of the corresponding period last year. The total collection amounts to Rs 97, 247 crores of which CGST is Rs 17,626 crores and SGST forms Rs 24,192 crores. Meanwhile the rest forms part of the IGST collections...

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Tune in on to the lauds for operationalisation of PM KISAN scheme..!

Citing the occasion of 43rd Foundation Day of the Indian Civil Accounts Service (ICAS), FM Arun Jaitley along with the senior officers of Controller General of Accounts, had a brief discourse on the two economic achievements being refunds of GST and operationalization of PM-KISAN Scheme...

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Leaving no stone unturned, ED raids Kochhar's offices and residential premises..!

Unearthing the evidences abide the ICICI bank loan fraud case, the Enforcement Directorate on Friday carried out investigative searches searches against former ICICI bank CEO Chanda Kochhar and Videocon promoter Venugopal Dhoot. ..

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No refunds now.. IT department to payback only 'e-refunds'..!

Waiting for your Income Tax refunds..? First link up your PAN cards with your bank accounts.. else forget the refund you are supposed to get back. The Income Tax Department will only issue refunds via the e-mode into bank accounts of taxpayers beginning next month and they should link PAN with their accounts, cleared the taxman recently. ..

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India-Japan walk down the economic aisle over Bilateral Swap Arrangements..!

India and Japan, striding towards the economic stability of the financial markets and thereby further developing the trade ties between, have entered into the bilateral swap arrangements up to USD 75 billions, being into effect from today. ..

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Flying for all.. Aviation sector is capable to spur up the GDP..!

Aviation sector has the potential to add to the growth of Indian economy. A growing aviation sector can carry along many other sectors to spur up the GDP. There must be a clarity in policy dynamics, a sync between the Macro and the Micro. To achieve growth in the sector, it will mean clear long-term strategy with immediate actionable plans”, said Commerce Minister Suresh Prabhu while inaugurating the Aviation Conclave 2019 with an overarching theme of ‘Flying for All’ here today in the national capital...

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ED staples assets worth Rs 147 crore of Nirav Modi

The Enforcement Directorate has provisionally attached assets worth Rs 147.72 crore of Nirav Modi and Firestar International Pvt Ltd, under the Prevention of Money Laundering Act (PMLA)...

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Closing bell of Monday: Sensex regains 36,000 mark, Nifty reclaims 10,800 level

Sensex at the Bombay Stock Exchange today regained the 36,000-mark, while Nifty at the National Stock Exchange reclaimed the 10,800 level. Both stocks gained around one percent amid positive cues from global stocks...

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'GST.. a positive reform' lauds the MSME sector in India..!

Despite the fact that lots of people criticised Goods and Service Tax for the way it was implemented, Micro Small and Medium Enterprises across the country termed it as the single biggest reform that has made the business environment better, according to a recent survey released by the India SME Forum. ..

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Business beyond borders..! A way head to improve trade and exports..!

Promoting the exports and improving the compliances, the Central Board of Indirect taxes and Customs have stepped up to constitute three working groups, studying and recommending the measures to facilitate trade and the business beyond the borders. ..

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illuminating stations with LED lights, Indian Railways shines with its new wave for energy consumption

Achieving its target, the Indian Railway has rightfully walked on the success path by illuminating the station with LED lighting. The target of installing LED lights across its network is a move that would help the national transporter Indian Railways to save Rs 50 crore per annum in electricity bills. ..

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Impossibles have turned possible..! Full potency to make India a ten trillion dollar economy..!

“Before 2014, we heard of many competition, although of a different kinds. That between ministries, between the individuals, a competition on corruption, a competition on delays. There was competition on who can do maximum, fastest and innovative corruption. Who would know better than all of you here about the challenges the country was facing during 2013-14”, signalled the Prime Minister Narendra Modi while addressing the sea of intellectuals at the Global Business Summit in New Delhi, Saturday...

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CBI steps to lookout for Chanda Kochhar, issuing a LOC amid the money laundering case

After the Enforcement Directorate’s action registering a criminal case against the former ICICI Bank CEO & MD Chanda Kochhar, her husband Deepak Kochhar, and Videocon MD Venugopal Dhoot, the Central Board of Investigation have stepped ahead issuing a lookout circular notice against the lady on the grounds of alleged money laundering...

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Heads meet.. deciding the Future of Indian Banking..!

With a wide view to increase and elevate the discourse on banking sector in India, NITI Ayog Vice Chairman Dr Rajiv Kumar inaugurated ‘The Future of Indian banking conference on Friday in the national capital in presence of the eminent speakers gracing the event. ..

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Now no more classifying steel producers; level-playing field created

In order to provide a level playing field to steel manufacturers, both SMEs and large players, with different capacities and following different routes of steel production, it has been decided to stop classifying steel producers as integrated steel producers, primary steel producers, secondary steel producers...

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Exchanging the views on macro exemption, the Advisory Council of the15th Finance Commission mops up the meet..!

The Advisory Council of the Fifteenth Finance Commission met today in the national capital reviewing the chapter plan of the FFC Report. The meeting chaired by N.K. Singh, Chairman of the Commission exchanged views on the macro exemptions for the Finance Commission which included GDP growth, Taxation of the Centre and the States, Expenditure Growth of the Centre and the State...

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33rd GST Council meet gets adjourned till Sunday without quoting any major decision..!

The Goods and Services Tax (GST) Council meeting on Wednesday remained inconclusive and was adjourned by the finance minister Arun Jaitley till Sunday, 24th of February saying that the members wanted the meeting to be held in person...

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Taking forward the Indian Startup Ecosystem, State Startup Ranking boost up the domain..!

With a wide expectations to take forward the Startup ecosystem in the country and give impetus to the vision of India becoming a Startup Nation, the Department for Promotion of Industry and Internal Trade (DPIIT) today has released the second edition of Startup Ranking for the year underway...

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Sacks filled up.. FDI equity sees a steep rise in India..!

Countries around the world have opened up their ways to invest in India, developing the extant robust financial backing of the nation. The Department of Promotion of Industry and Internal Trade (DPIIT) on Wednesday have released the data of top ten investors for the period of April-January 2019, increasing the equity flow in India. ..

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Startups.. starting up high at Income Tax exemptions..!

The Department for Promotion of Industry and Internal Trade (DPIIT) on Wednesday issued a notification making prime changes to the existing set up of the Start-up industry in collaboration with the CBDT. Revising the definitions of the ‘startups’ to get the Income Tax exemption in the investments, an entity is now entitled to be a start up up to 10 years from its incorporation...

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Post budget meeting at RBI reviews current economic situation along with the global and domestic challenges

Addressing the post-Budget meeting of the Central Board, Finance Minister Arun Jaitley broadly outlined the various reforms and policy measures taken by the Government over the last four years and the effects thereof. The meeting of the Central Board of the Reserve Bank of India commenced on 18th of February by observing two minutes silence in memory of the security force personnel who laid down their lives in Pulwama...

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#AircelMaxisCase: Chidambaram father-son set free till March 8

A Delhi court today extended till March 8 the interim protection from arrest granted to former Union minister P Chidambaram and his son Karti in the Aircel-Maxis cases filed by the CBI and the ED...

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Trade in, trade up..! Suresh Prabhu chairs the Board of Trade meeting !

“India’s exports have faced a very challenging period in recent years, on account of developments arising from the global financial crisis of 2008-09, which accentuated after 2013-14, when the world economy, including China experienced a major trade slowdown”, said Dr Anup Wadhwan while addressing the intellectuals at the meeting of Board of Trade (BOT), chaired by Commerce Minister Suresh Prabhu on Friday at national capital...

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Bikaner land scam case: ED attaches Robert Vadra's assets worth Rs 4.62 crore

The Enforcement Directorate (ED) Friday said it has attached assets worth Rs 4.62 crore of a firm linked to Robert Vadra, Congress president Rahul Gandhi's brother-in-law, in connection with the Bikaner land scam case...

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No more long queues for CNG, 5000 new CNG refueling stations to come up across the country

With a new model of the Dealer Owned Dealer Operated (DODO), Union Minister Dharmendra Pradhan launched new setting up CNG stations in India. Due to increasing demand for CNG in India, the government launched this across the country on the sidelines of Petrotech 2019...

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Pakistan to suffer by MFN status withdrawal ; India is free to enhance custom duties on imports to any level

Just a day after at least 42 Central Reserve Police Force (CRPF) personnel lost their lives in a disaster suicide bombing attack in Pulwama, the Indian government has withdrawn the Most Favoured Nation or MFN status granted to Pakistan, affecting the trade overall. ..

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Ponzi schemes, now no more..! LokSabha sets mechanisms protecting small investors

The LokSabha on Wednesday passed the Banning of Unregulated Deposit Schemes Bill, 2018 protecting the gullible investors from ponzi schemes, which lures investors and pays profits to earlier investors by using funds obtained from more recent investors...

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Bank on them.. formal financial banking system turns robust amid PM Jan Dhan Yojana in India..!

Hailing the government decision of boosting the users to the formal financial system, the Reserve Bank of India on Wednesday opened up the report on trends and progress of banking in India for year 2017-18, powered by the drive to mobilise account ownership among unbanked adults through the Pradhan Mantri Jan Dhan Yojana (PMJDY)...

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Government paves the way ahead for Interim Budget FY 20

“Modi government had taken a lot of initiatives in the past four and half years for the benefit of the poor, farmers and the middle class and the 2019-20 interim budget was a continuation of that. The Small farmers would be provided Rs 6,000 a year and those living in palaces would never understand the importance of Rs 2,000 every four months and hence they belittle the scheme”, said the acting Finance Minister Piyush Goyal addressing the lower house of the parliament, rubbing of the trolls claimed ..

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Developing state of art currency, SPMCIL sweeps 13 years of its foundation

“The way that the security is modernized by the Security Printing & Minting Corporation of India Limited, is a matter of happiness and pride and that participation of all is of crucial importance in this kind of success”, said the acting Finance minister Piyush Goyal while addressing a sea of people at the 13th foundation day of SPMCIL in the national capital on Sunday. ..

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#INXMediaCase: ED grills P Chidambaram in money laundering case

Former finance minister P Chidambaram appeared before the Enforcement Directorate today in connection with a money-laundering probe related to INX Media...

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ED lays red carpet for Robert Vadra, Karti Chidambaram to question on separate money laundering cases

Businessman Robert Vadra appeared before the Enforcement Directorate for the second day today in money laundering case probe and his questioning is on. The agency had questioned him on Wednesday as well. This is the first time that Vadra is appearing before any probe agency in connection with alleged dubious financial dealings...

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Nourishing the bilateral trade,Prabhu concludes Indo-Africa Strategic Economic Cooperation discourse

“Synergy that exists between India and Africa can be gauged from the recent robust trends in Indo-Africa trade relations. Bilateral trade between Africa and India has increased from around USD 7 billion in 2001 to USD 60 billion in 2017. India and African countries share common interests in inclusive growth, trade and investment, and resilient economic partnerships”, said Commerce Minister Suresh Prabhu while addressing the the interactive session on Indo-Africa Strategic Economic Co-operation in ..

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Do not knock the doors of Tax Ombudsman now.. they are abolished

As a taxpayer, you may have had some very legitimate grievances relating to your income tax matters or settlement of your claims, which were resolved by the respective Ombudsman. Now do not knock their doors as the Union Cabinet chaired by PM Narendra Modi has approved for abolition of Institution of Income-Tax Ombudsman and Indirect Tax Ombudsman. ..

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Surprise! RBI trims the Repo rate by 25 basis points; other key rates remain unchanged..!

The Monetary Policy Committee (MPC) on Thursday declared a cut in the interest rate by 0.25 per cent to 6.25 per cent, declared by RBI Governor Shaktikant Das. The six-member MPC, headed by Das, began its meeting on Tuesday and announced its decision on Thursday. This marks the first MPC review meeting chaired by him after taking charge as the RBI Governor, replacing Urjit Patel. ..

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India on 'Vijay' track: UK clears Vijay Mallya's extradition

UK Home Secretary Sajid Javid on Monday ordered the extradition of Vijay Mallya to India, in a major blow to the embattled liquor baron. The 63-year-old businessman had lost a legal challenge against his extradition in a British court in December...

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GST revenue collection rises to the tune of 14% for January, 2019

With the FM Piyush Goyal declaring interim budget on Friday and some major reforms in the extant GST act, the government has also informed that the GST revenue collection for the first month of 2019, heads to the total of Rs 1,02,503 crores...

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What's in the bag here for Ministries..?

Covering every nook and corner of the nation, society and profession, the acting Finance Minister Piyush Goyal has set an example of ideal budget in the nation’s palate. It is very well usually stated that a budget should be balanced not by more taxes but by reduction of follies. The government in reign has put on this phrase into reality, striving to make the national working transparent, a ‘New India’...

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Historic budget.. assisting all classes of society..!

The President of India in the commencement speech of the Interim Budget, had discussed the progress path of the nation. With the nation together striving to the ‘New India’, the acting Finance Minister on Friday presented the Interim Budget providing significant tax benefits to the middle class individuals and salaried persons. The Ministry this time also focussed on the MSME sector and companies providing employment opportunities meanwhile. ..

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Here's the Interim Budget serving the individuals and salaried tax payers..!

With the Lok Sabha elections round the corner, the Acting Finance Minister on Friday presented the details of the government income and expenditure within the interim budget 2019-20. Though Goyal told an all-party meeting that a “budget is a budget” and there is nothing like a vote-on-account, Prime Minister Narendra Modi clarified to the Opposition that this is an interim budget. ..

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Thugs in custody! Delhi Court brings Rajeev Saxena and Deepak Talwar under ED remand in VVIP Chopper scam

Bringing all the thugs under the same roof, the Augusta Westland Case is revealing dark secrets of each and every corrupt chapter. Extraditing Rajeev Saxena and Deepak Talwar to India, the Delhi Court in its order has sent Rajeev Saxena for a four day and Deepak Talwar on a seven-day remand under Enforcement Directorate...

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Heads meet aiming to resolve the issues of national importance

“Government's focus lies on issues of national importance and finding solutions to problems of the people. The country expects from all of us to perform our duties as Parliamentarians in a positive manner and we must deliver to the expectations of the people”, said Shri Narendra Modi while addressing floor leaders of parties in the Rajya Sabha and Lok Sabha here on Thursday ahead of the budget session...

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‘Memorial nightmare’ for Mayawati! ED raids seven places in UP in connection to ‘memorial scam’

Bringing Mayawati under scrutiny scanner, the Enforcement Directorate (ED) on Thursday conducted raids in connection with alleged irregularities of more than Rs 111 crore in construction of memorials in Uttar Pradesh. These memorials were built during the tenure of Bahujan Samaj Party supremo and former chief minister Mayawati between 2007 and 2012...

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Illuminating stations, Indian Railway goes eco-friendly with LED lights and solar panels

Making travelling easy, the transportation in India has been swiftly changing its course in making life feasible. Indian Railway has time and again transformed itself in shaping and welcoming new techniques to alter safety and security for the commuters. It has been in the forefront towards adopting various energy conservative measures...

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Lok Sabha speaker seek smooth conduct of business ahead of budget session

Two days ahead of the Interim Budget, the Lok Sabha Speaker Sumitra Mahajan had called an all-party meeting on Wednesday. During the meeting, the Speaker seeked the support of different political parties for the smooth conduct of business in the Lower House. The Budget Session will commence on the 31st of this month with the President's address. ..

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Small businesses to be served with effective credit support

“Public sector banks will become more profitable and proactive in the days to come”, said the Finance Minister Piyush Goyal after holding a review meeting with the heads of Public Sector Banks on Monday. This is after the RBI Governor met the MDs and CEOs of the Public sector banks on the same day, citing the Union Budget aligned...

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RBI Governor scrutinizes over the health of banking sector in India

With just three days to the union budget, RBI Governor Shaktikant Das on Monday had a meeting with the MDs and CEOs of the public sector banks to take stock of the banking sector’s health. Das conveyed to them the regulator’s expectation from the banking sector, ahead of the monetary policy review...

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The investigators need to concentrate on the bull’s eye, following the advice of Arjuna in Mahabharata..!

“There is a fundamental difference between investigative adventurism and professional investigation. Professional investigation targets the real accused on the basis of actual and admissible evidences. It rules out fanciful presumptions. There is no personal malice or corruption. It targets the guilty and protects the innocent. It secures convictions and furthers public interest”, said Finance Minister Arun Jaitley hailing the Supreme courts decision holding the two-year old insolvency code in its ..

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Its high time now..!! Custom officers and businesses finally to peak their level of friendship..!

“Its time to do business ethically and straight. Those days are gone when there was an era of high taxes, high import duties, high direct and indirect taxes which caused people to look at different avenues to save tax. There was misuse of public funds. In last few years there has been an honest attempt to change that culture and develop the nation to its full”, said interim Finance Minister Piyush Goyal while addressing the 'Investiture Ceremony and International Customs Day' in New Delhi on Friday. ..

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CBDT and Custom officers risk their lives for service..!

Risking a life for the service is something that needs to be saluted..! And when the service is for the nation, the said superiority is treasured..! The senior officers of the Central Board of Direct Taxes and that of the customs have been considered for grant of Presidential Award of Appreciation Certificate for exceptionally meritorious service rendered at the ‘Risk of Life’...

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Criminal investigations herein ICICI-Videocon loan case; CBI raids Mumbai offices of aligned companies

The Central Bureau of Investigation on Thursday registered a FIR against Veugopal Dhoot and NuPower Renewables, carrying out raids at several locations including the Mumbai offices of Videocon and NuPower in case of ICICI-Videocon loan. Both these companies are constituted by ex-ICICI CEO, Chanda Kochhar's husband, Deepak Kochhar...

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It's interim budget.. and an interim Finance Minister..!

With seven days to the interim budget, Union Minister Piyush Goyal has been given an additional charge of the Finance Ministry on Wednesday, filling in for the extant Finance Minister Arun Jaitley. Jaitley being in the United States for a medical treatment, Goyal is likely to present the budget this time...

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Specially constituted GST appellate Tribunal to solve issues easily

The Union Cabinet , chaired by the Prime Minister today approved formation of the National Bench of the Goods and Services Tax Appellate Tribunal (GSTAT) in the national capital. The formation would cost a one-time expenditure of Rs.92.50 lakh while the recurring expenditure would be Rs.6.86 crore per annum...

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Tamil Nadu Global Investor’s Meet 2019: Pioneering step by Tamil Nadu towards becoming ‘Investors’ choice

The glorious and ambitious summit of 'Tamil Nadu Global Investors’ Meet 2019' started with keynote address of Defense minister Nirmala Sitaraman. This event was inaugurated by CM of Tamil Nadu, Edappadi K. Palaniswami...

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Tax non-filers.. beware.. IT Department is keeping a watch..!

Do you file your Income Tax returns in time..? If yes, no worries at all..! If not, get going at a faster pace. The Government has set up a system that recognises the non-filers backed by detailed analysis. The individuals who have carried out high value transactions but have not filed their income tax returns for the assessment year 2018-19 would get 21 days time to submit their responses online...

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Deeds of Jamai Raja Robert Vadra to create hurdles for Congress in LS polls

Indian businessman and Sonia Gandhi’s son-in-law, Robert Vadra is ordered by the Rajasthan High Court on Monday to appear before the Enforcement Directorate citing the allegations of money laundering by his firm. Vadra’s mother and his partners in Skyline Hospitality Limited are also directed to face the ED. The ED is however, scheduled to hear the case on 12th of February this year. ..

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Tension mounts on Chidambaram as CBI seeks sanction from govt to prosecute him under INX Media Case

In a new development slated in the INX Media case, the CBI has sought the sanction of the central government to take legal action against former Finance Minister P Chidambaram as it has almost finalised a charge sheet, which involves alleged irregularities...

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Startups yet feel the burden of Angel Tax despite of government simplified procedures

Benefits of the changes notified by the Department of Industrial Policy and Promotion (DIPP) on the angel tax may not apply to all startups. The government said it has already simplified the procedure for startups to seek exemption from angel tax. Startups shall now apply to the DIPP with documents related to their financials and the details of their investors, including their net worth and returns. However, the CBDT will decide on their eligibility for the exemption within 45 days...

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Prosecution notices are valid, some TDS defaulter companies are misleading the actual fact, alleges CBDT

Rubbing of the hearsay spread in amongst the media and people, regarding the TDS prosecution notices sent in en mass, the Central Board of Direct Taxes has stated that by any stretch of imagination, these notices cannot be termed as mass harassment by the income tax department. ..

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Worried of understanding the budget..? Attend Finance Ministry's batch of 'Know your budget'..!

Budget isn’t about restricting what you can spend, but it gives you permission to spend without guilt or regret. Although an important part of the economic circle, it is mostly out of understanding for the common man. When asked to anyone of a non-financial background regarding the budget and the clues, queries, these effortlessly agree saying, it is difficult to understand the terms and concepts stated in the budget session...

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Mehul Choksi surrenders..No, not on the case.. but his Indian citizenship!

Key architect of Rs 14000 crores PNB scam, Mehul Choksi has given up his Indian citizenship and surrendered his passport to Antigua. Passport number Z 3396732 has been deposited with cancelled pages. He has also deposited the mandatory $177 dollar for leaving Indian citizenship to become a citizen of Antigua. ..

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Status paper on Government debt greets the masses, enhancing the transparency amidst

The Central Government has released the eighth edition of the Status Paper on the Government Debt, which provides a detailed analysis of the Overall Debt Position of the Government of India. Total liabilities of the governmentmeasures to Rs. 82 lakh crore. ..

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Rationalized External Commercial Borrowings framework to flourish Ease of Doing Business in India

With the view to improve the ease of doing business, the RBI in consultation with the government has decided to rationalise the existing framework for External Commercial Borrowings (ECB) and Rupee Dominated bonds. The new policy aligned has been implemented as a part of efforts underway at developing the regulations framed under Foreign Exchange Management Act, 1999. ..

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German based company obeys NGT's order citing severe environmental damage; SC to hear on January 21

The Volkswagen Company has agreed to comply the National Green Tribunals demand of Rs 171.34 crores for causing serious environmental challenges. The NGT yesterday warned the company to submit the amount by 5 pm today. ..

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Citing restrictive trade practices in Gujarat, CCI penalizes the Chemist Association in state

The Competition Commission of India has imposed a heavy penalty of Rs 32724, on the Chemists and Druggists Association of Baroda (CDAB) following the allegation filed with the Monopolies and Restrictive Trade Practices Commission (MRTPC). The allegation read that the association had indulged in restrictive trade practices...

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Tax payers now to get rid of late refunds and sedate return processing..!

The Union Cabinet in it’s decisions on Wednesday selected the IT major Infosys ltd to implement the next generation system for processing income tax return filing. The amount sanctioned for this project measures Rs 4241.97 crores which will bring down the processing time for returns and speed up the refunds in relation...

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Cabinet approves Rs 6000 of capital infusion in the state owned Exim banks

The government today has approved a capital infusion of ₹6,000 crore in state-owned Exim Bank with a view to expand its business. The Union Cabinet, chaired by PM Narendra Modi and addressed by Piyush Goyal, also approved doubling the bank’s authorised capital from ₹10,000 crore to ₹20,000 crore. ..

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Expansion plans for Numaligarh Refinery; a positive nod from the cabinet

The positive step was taken by the government today for the expansion of Numaligarh Refinery. Cabinet Approved Rs. 22, 594 Cr. for Numaligarh Refinery expansion project...

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Recapitulating the economic data, Jaitley says India needs a decisive PM alike we have one now..!

Here comes a new blog post from the FM Arun Jaitley elaborating over the need of a decisive Prime Minister..! Who should be India's Prime Minister, Should he be constrained by his rival aspirants who have been reluctantly supporting him out of the general opposition or do India need a Prime Minister with a clear mandate as 2014, pondered Jaitley yesterday at New Delhi...

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Another success of the Indian economy: According to the UN Report, India among World’s leading exporter of creative goods

Indian economy achieving new heights every day. According to a recent UNCTAD (United Nations Conference on Trade and Development) report, India achieved triple creative goods exports. India reached USD 20.2 billion in 2014 from 7.4 USD billion in 2005...

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Train passengers now arrive 15-20 minutes before your train leaves as Indian Railways boost up security checking

Initiating on levelling up on all platforms, be it safety, cleanliness, availability of trains, the Indian Railways has left no stones unturned. In a similar attempt, taking out a leaf from airport’s book, the Indian Railways is planning to seal stations for security checks. So now, the train passengers would have to arrive 15-20 minutes before the scheduled departure time to complete these security checks before boarding their trains...

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Here is what you can expect from the year's last budget on the face of elections heading..!

In the cornering hours of the Union Budget 2019, scheduled on 1st of February, Finance Minister is set to increase the pressure to fulfill the Modi government’s promise to bring corporate tax down to 25 per cent for all the companies. It is now that the analysts and the finance experts have started expecting and projecting the geared budget at the Centre. ..

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