Finance Minister Arun Jaitley on Friday said there is no proposal to withdraw the Rs 2,000 notes that were introduced post-demonetisation. The Rs 2,000 banknotes were introduced along with new Rs 500 currency following the withdrawal of old Rs 500 and Rs 1,000 notes from November 9, 2016. “There is[Read More…]
With the Goods and Service Tax (GST) Council on Thursday approving the remaining two draft bills — UT-GST (Union Territory GST) and S-GST (State GST), all the five enabling draft bills stand approved to enable a likely roll out of the new indirect tax regime by July 1. The panel,[Read More…]
Trump administration on Thursday released a preliminary 2018 budget proposal, which details many of the changes the US President wants to make to the federal government’s spending. To pay for an increase in defence spending, the ‘America First’ budget proposes dramatic cuts to many federal agencies including Environmental Protection Agency,[Read More…]
The GST council may approve two vital legislations at its meeting on Thursday including the state GST (SGST) and the union territory GST (UTGST) bills. It will give a push to the government’s determinations to crush the ambitious indirect tax reform from July 1. The government is also expected to[Read More…]
Railway Minister Suresh Prabhu on Wednesday pitched for rail connectivity with neighbouring countries to boost trade and eliminate poverty in the region. Highlighting the need for physical connectivity with neighbours for trade growth, he advocated work on rail link from Kathmandu to Delhi and Kolkata shortly. “Asia is going to[Read More…]
Union Finance Minister Arun Jaitley was given the additional charge of Defence Ministry on Monday, as per Rashtrapati Bhavan. The move comes in the wake of resignation of Manohar Parrikar as the defence minister. Parrikar will be sworn in as the Chief Minister of Goa on Tuesday heading the BJP-led[Read More…]
Business tycoon Vijay Mallya, on Friday took to Twitter saying he is ready to negotiate with banks to pay a one-time settlement charge on Rs 9,000-crore loan default. “Public-sector banks have policies for one-time settlements. Hundreds of borrowers have settled. Why should this be denied to us?” he tweeted. Public[Read More…]
Digital wallet platform Paytm makes a u-turn on credit card fee in a new blog post saying that, “we are suspending 2% charge on credit cards for adding money to wallet keeping users’ convenience in mind.” “We are conscious that this move caused inconvenience to a large segment of our[Read More…]
In a major drawback to the digital India move and cashless economy, the digital transactions that gained popularity following the demonetization move, have started declining with the lift in remonetisation – indicating the return of people’s preference for hard cash. According to the latest data from the Reserve Bank of[Read More…]
Maintaining a healthy fiscal deficit will be paramount for the Indian economy, SEBI whole-time member G Mahalingam said exclusively to Newsd on Tuesday. Fiscal deficit is the gap between a country’s total revenue and total expenditure. While speaking to Group Editor of Newsd, Shutapa Paul, Mahalingam professed concern over rising[Read More…]
Finance Minister Arun Jaitley on Tuesday asked various central ministries to remain in a state of readiness for implementing schemes and projects as funds would be made available from April 1. “This time the Finance Bill would be passed by Parliament before March 31, 2017, therefore, different ministries should be[Read More…]
The Department of Industrial Policy and Promotion (DIPP) is not silent on Make in India and is in fact in the process of fine-tuning an upgraded 2.0 version. DIPP secretary Ramesh Abhishek told Group Editor of Newsd, Shutapa Paul, in an exclusive chat that contrary to criticism Prime Minister Narendra[Read More…]
The government on Monday asked banks including private entities to reconsider their decision of imposing charges on cash transaction charges and ATM withdrawals. Recently, HDFC Bank recently issued a notification where it said that its customers will only be able to avail four free withdrawal and deposit (cumulative) transactions from[Read More…]
Minister of State for Civil Aviation Jayant Sinha urged investors to think of new types of infrastructure in India such as ports and waterways at the ‘IVCA’s Annual India Alternatives Conclave 2017,’ that kicked off on Monday at the Grand Hotel, Vasant Kunj, New Delhi. The Indian Private Equity and[Read More…]