Rs 7.3 crore in currency and 5.5 kg gold have been seized by Enforcement Directorate (ED) during search operations post demonetisation, the government said on Tuesday. 18 persons were arrested and 17 other where identified in relation with the alleged money laundering activities following demonetisation move, Finance Minister Arun Jaitley[Read More…]
Tag: Arun Jaitley
Jaitley to address RBI, Sebi boards on Feb 11
Corporates welcome the new and ‘positive’ Union budget
The corporate and industries sectors embraced the new Union budget. They perceive it as a positive decision and booster to the rural economy as well as housing and infrastructure. The Federation of Indian Chambers of Commerce and Industries (FICCI) president Pankaj Patel described the budget as “directionally correct and fiscally[Read More…]
Budget 2017: Autonomy of railways to be maintained, says Jaitley
Finance minister Arun Jaitley presents Union Budget 2017-18 in Lok Sabha
Finance Minister Arun Jaitley is presenting the Union Budget 2017 in Parliament. This budget is also special as it is the first time that the Union and railway budgets have been merged. The merger brought an end to the 92-year-old tradition of having a separate railway budget. The demonetization of[Read More…]
Budget 2017 may inflate service taxes
Service tax rates have seen an increase over the last two years. In 2015-16, service tax was increased from 12.36% to 14%. The Swachh Bharat cess of 0.5% also was hitched to it. This financial year, the Krishi Kalyan cess of 0.5% was imposed, taking the tax rate to 15%.[Read More…]
Finance Minister skips Didi’s Bengal Business summit
Finance minister Arun Jaitley was scheduled to attend the 3rd edition of the Bengal global business event but did not show up on Friday. Sources say that he was believed to have been asked by the party high command to stay away. After the arrest of two TMC MPs Tapas[Read More…]
Direct, Indirect tax collection figures reach double-figures: Jaitley
Direct and indirect tax collection from April to December showed a double-digit increase, Finance Minister Arun Jaitley said on Monday. “Since there has been a considerable debate as to the impact of currency squeeze in November and December, the revenue data becomes relevant. The direct tax collections for April-December period[Read More…]
PM thinks of next generation, Rahul looks at disrupting next Parliament session, says Arun Jaitley
Launching an attack on Congress Vice President Rahul ahead of budget session, Union Finance Minister Arun Jaitley on Sunday said that he (Rahul) is interested only in disrupting parliament proceedings. “Prime Minister was thinking of the next generation while Rahul Gandhi was only looking at how to disrupt the next[Read More…]
GST Council hopes to break logjam between Centre, states
The eighth GST council meeting which begins on Tuesday in the national capital will be chaired by finance minister Arun Jaitley and comprise of all the state finance ministers. In its two day meeting, the council will meet representatives of six crucial sectors, including IT, telecom, banking and insurance, to[Read More…]
#BringInsiyaBack: Dutch national’s fight against her Indian ex-husband, who kidnapped her daughter
Society has a pretty screwed up way of looking at itself. We consider abusive marriages, child grabbing and male domination a part of the lower income group. This particular story of Dutch national, Nadia Rashid may be the rude wake-up call that you need. Humans of Amsterdam shared a story[Read More…]
Uncertainty over GST remains as council leaves issues for Jan meet
Union Finance Minister Arun Jaitley on Friday said that dual control and cross-empowerment remain to be sorted, while rest of the draft of supporting GST laws is approved. In a statement on GST, Jaitley said, “GST Council to meet again on Jan 3-4 to decide on dual control and IGST,[Read More…]
Reforms should not overlook privacy, customer security: MP Rajeev Chandrasekhar
MP Rajeev Chandrasekhar on Wednesday wrote to the Finance Minister Arun Jaitley and RBI Governor Urjit Patel apprising them of certain key issues that will arise as the Government and RBI move to increasingly to digitize the economy as well as the banking and payments eco-system being transformed. Chandrasekhar welcomed[Read More…]
Over 30% tax advantage for small traders making digital transaction: FM
Finance Minister Arun Jaitley on Tuesday said that the small traders and businessmen will have over 30 per cent tax advantage if they carry out their transactions through digital or cheque modes. The government on Monday amended Section 44AD of the income tax rule to offer this benefit to small[Read More…]
Remonetisation won’t take long, RBI will complete it soon: Jaitley
Union Finance minister Arun Jaitley on Saturday said that the Reserve Bank of India will soon complete the process of remonetisation by injecting enough money through the banking and postal system in line with the objective of reducing use of cash currency in the economy. Speaking at the annual general[Read More…]
Service tax to be waived on card transactions up to Rs 2,000
Government will waive service tax on debit and credit card transactions of up to Rs 2,000 in a bid to promote digital transactions amid cash crunch following withdrawal of old Rs 500 and Rs 1,000 banknotes. The government has decided to “exempt services by an acquiring bank to any person[Read More…]
Arun Jaitley knew about demonetisation in advance: Piyush Goyal
Power Minister Piyush Goyal on Saturday dispelled rumours that Finance Minister Arun Jaitley was unaware of demonetisation. He said that he knew it and kept it as secret despite being “very friendly and open”. “When the bombshell (demonetisation) came… Every body wanted to know how Mr Jaitley could keep the[Read More…]
Newsd Exclusive: Nandan Nilekani asked to join Niti Aayog as ‘digital advisor’
Nandan Nilekani, the man behind Aadhar has been asked by Union Ministry of Finance, Arun Jaitley to advise the government on digital payments, especially on linking governmental banking services directly to its employees, including the Army, judiciary and paramilitary forces. Sources told Newsd that Nilekani, who contested the 2014 Lok[Read More…]
Digital payments future of financial transactions: Jaitley
Asserting that hard cash in India would become obsolete in the near future, Union Finance Minister Arun Jaitley on Monday said that digital payments like e-wallet system and mobile banking would rule the roost which would immensely benefit the people. “In future, the proportion of hard currencies in India is[Read More…]
Government will announce more steps to ease cash crunch: Jaitley
Finance Minister, Arun Jaitley on Tuesday said that the government will announce more steps to ease the cash crunch in rural areas. “The situation is normalising in the urban areas. In the next few days, the focus will be on the rural areas so that farmers have enough funds because[Read More…]
No move to seal bank lockers, confiscate jewellery: Finance Ministry
The Finance Ministry on Friday said there was no move to seal bank lockers nor was it true that the ink of the new ₹2,000 notes has been bleeding in some cases. “Myth: Next move is to seal bank lockers and confiscate gold, diamonds and jewellery. Reality: This is baseless.[Read More…]
Sad that FM refused to consider demonetisation rollback: Kejriwal
Delhi Chief Minister Arvind Kejriwal on Friday expressed disappointment over Central government’s decision not to roll back the demonetisation move. He added that this showed it has lost its connect with the people. “I am very sad that FM (Finance Minister) has plainly refused to even review and consider rollback.[Read More…]
Central govt staff up to Group C allowed ₹10k advance salary
The government on Thursday announced that the central government employees up to Group ‘C’ now can draw salary advance up to ₹10,000 in cash that’ll be adjusted against their November salaries. Economic Affairs Secretary Shaktikanta Das said Finance Minister Arun Jaitley in his Budget speech stated that interim provisions have[Read More…]
You can deposit as much cash as you want in bank: Arun Jaitley
A day after the government withdrew high-value banknotes, finance minister Arun Jaitley on Wednesday said people can deposit as much cash as they want in banks to get new notes but shouldn’t take it as an amnesty scheme for undisclosed income. Speaking to public broadcaster Doordarshan, Jaitley said the law[Read More…]
Pak will pay heavily, India has suffered enough in silence: Jaitley
In a stern warning, union minister Arun Jaitley on Wednesday said if Pakistan inflicts injuries on India, the costs are going to be far heavier for them asserting that there is a shift in India’s approach towards dealing with cross-border tensions as it has “suffered enough in silence” for Pakistan’s[Read More…]