New Delhi: A government constituted Direct Tax Code task force, headed by CBDT member Akilesh Ranjan, is arguing for a new tax regime for individuals. It has proposed dramatic changes to the Income Tax Act, which dates back 58 years. People earning between Rs 5 lakh and Rs 10 lakh per year may have to […]
New Delhi: In the biggest consolidation exercise in the banking space, the government on Friday announced four major mergers of public sector banks, bringing down their total number to 12 from 27 in 2017, a move aimed at making state-owned lenders global sized banks. United Bank of India and Oriental Bank of Commerce will be […]
Chennai: Finance Minister Nirmala Sitharaman on Sunday allayed fears of job losses following the proposed merger of public sector banks, saying not even one employee shall be removed following the amalgamation. “Absolutely, ill informed. I want to assure every union in everyone of these banks to please recall what I have said last Friday. When […]
Chennai: Finance Minister Nirmala Sitharaman on Sunday said that the government is consulting several sectors of the economy and the recent announcement are result of such consultations. Speaking to reporters here days after the mega bank mergers, Sitharaman said that she was ready to talk to representatives of every sector whoever approached her. She said […]
Chennai: Finance Minister Nirmala Sitharaman on Sunday said that the GST Council will take the final call on reducing the tax rate on motor vehicles. Speaking to reporters here, she said that the government is addressing the issues of the automotive segment on the backdrop of the recent slowdown in sales. “One of the suggestion […]
Chennai: Amid the economic slowdown plunging August sales of automobiles to the lowest since 1997-98 indicating further worsening of demand and investment, Finance Minister Nirmala Sitharaman will elaborate on the decisions and initiatives taken by the Modi2.0 government in last 100 days. She will address media on “Furthering Development — 100 days of bold initiatives, […]
New Delhi: In a big bonanza for the government employees ahead of Dussehra, the Narendra Modi-led Central government is likely to make an announcement soon regarding fulfillment of the long-standing demands of the employees for a hike in the minimum pay. If the latest reports are anything to go by, then it’s time to rejoice […]
New Delhi: As part of the steps taken to boost exports, India will organise annual mega shopping festivals, similar to the ones held in Dubai, to facilitate exchange between global producers and consumers, Finance Minister Nirmala Sitharaman said on Saturday. She said that these “mega shopping festivals” will be held at four destinations across the […]
New Delhi: The government has removed all uncertainties with regard to the export incentive issues and the latest credit enhancement measures will help the sector march ahead, Director General of Foreign Trade Alok Vardhan Chaturvedi has said. Ending uncertainty for exporters, the government on Saturday announced a new scheme for reimbursing input duties and taxes […]
New Delhi: The Union Cabinet on Wednesday approved a blanket ban on e-cigarettes in the country with complete suspension of its manufacturing, import, export, distribution and storage. Addressing the media after the cabinet meeting, Finance Minister Nirmala Sitharaman said the government would pass an ordinance immediately subject to President’s approval to give effect to the […]
New Delhi: Finance Minister Nirmala Sitharaman will meet the heads of PSU banks on Thursday to discuss merger-related issues and review their preparedness to execute the process within the stated timeline of April 1, 2020. “Tomorrow’s PSB meeting will take up some of the key issues which relate to passing of low cost of borrowing […]
New Delhi: In a public outreach exercise, Finance Minister Nirmala Sitharaman on Thursday said public sector banks will organise credit “shamiana meetings” in 400 districts beginning October 3 to provide loans to NBFCs and retail borrowers, including homebuyers and farmers and banks won’t declare any stressed loan account of MSMEs as NPA till March 2020 […]
Mumbai: Domestic equity benchmark BSE Sensex skyrocketed over 1600 points in morning session on Friday after Finance Minister Nirmala Sitharaman announced a slew of measures to revive the ailing economy. In a major booster to the market, the government has decided to not levy the enhanced surcharge introduced in the Budget on capital gain arising […]
Panaji: The Goods and Services Tax Council chaired by Union Finance Minister Nirmala Sitharaman on Friday took an in-principle decision to link Aadhaar with registration of taxpayers under the GST and examine the possibility of making Aadhaar mandatory for claiming refunds. She also said that a committee would also be formed to ensure simplification of […]
New Delhi: The Mahindra Group chairman Anand Mahindra has come out in Finance Minister Nirmala Sitharaman’s support, saying it is not necessary that people always get things right the first time. After a user posted to him that the Finance Minister did not have wisdom to cut corporate tax the first time when she presented […]
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