finance ministry

India cuts tax on overseas borrowings (Lead)


September 21st, 2012 - 8:34 pm ICT by IANS
New Delhi, Sep 21 (IANS) In yet another move to draw in international capital, the Indian government Friday reduced tax on overseas borrowings by domestic companies to five percent from ... Read more...

Posted in Business |

Rajiv Gandhi Equity Scheme opened to investments through ETFs and MFs


September 21st, 2012 - 7:38 pm ICT by IANS
New Delhi, Sep 21 (IANS) To boost retail investments in capital markets, the government Friday approved the Rajiv Gandhi Equity Scheme (RGES) under which first time investors with an ... Read more...

Posted in Business |

Congress core group meets over fuel price hike


September 11th, 2012 - 10:58 pm ICT by IANS
New Delhi, Sep 11 (IANS) A day after Congress chief Sonia Gandhi returned from abroad following a medical check up, the party's core group met here Tuesday to discuss ... Read more...

Posted in Politics |

Decision on fuel prices deferred, CCPA meet postponed


September 11th, 2012 - 7:39 pm ICT by IANS
New Delhi, Sep 11 (IANS) A decision on a hike in fuel prices was deferred Tuesday as a meeting of the Cabinet Committee on Political Affairs (CCPA), scheduled for ... Read more...

Posted in Business |

CBI clerk, seven others sent to jail for fraud


September 6th, 2012 - 7:33 pm ICT by IANS
New Delhi, Sep 6 (IANS) A special court here Thursday sent to 14 days judicial custody a CBI data entry operator and seven others for allegedly hacking the bank account ... Read more...

Posted in Uncategorized |

CBI allowed to quiz court clerk over fraud


September 5th, 2012 - 11:55 pm ICT by IANS
New Delhi, Sep 5 (IANS) A special court here has allowed the CBI to quiz its data entry operator and three others for allegedly hacking the bank account of the ... Read more...

Posted in Uncategorized |

‘Global economic slowdown delays South Korean recovery’


September 3rd, 2012 - 1:15 pm ICT by IANS
Seoul, Sep 3 (IANS) Global economic slowdown caused mainly by Europe's fiscal crisis has been delaying South Korea's economic recovery, the nation's finance minister said Monday."Exports showed a minus growth ... Read more...

Posted in Business |

Defer GAAR by three years, suggests Shome Committee (Lead)


September 1st, 2012 - 9:03 pm ICT by IANS
New Delhi, Sep 1 (IANS) An expert committee on tax laws Saturday suggested that the Indian government defer implementation of the controversial General Anti-Avoidance Rules (GAAR) until fiscal 2016-17 ... Read more...

Posted in Business |

GAAR panel expanded to cover non-resident tax payers


September 1st, 2012 - 7:56 pm ICT by IANS
New Delhi, Sep 1 (IANS) The government Saturday expanded the scope of the expert committee on General Anti-Avoidance Rules (GAAR) to include all non-resident tax payers, even as the committee ... Read more...

Posted in Business |

Advance Pricing Agreement norms come into effect


August 31st, 2012 - 10:37 pm ICT by IANS
New Delhi, Aug 31 (IANS) Advance Pricing Agreement (APA) norms, introduced in this year's Budget, have come into effect from Aug 30, 2012, an official release said Friday. An APA ... Read more...

Posted in Business |

Rs.411 crore supplementary budget in Jharkhand


August 31st, 2012 - 4:35 pm ICT by IANS
Ranchi, Aug 31 (IANS) The Jharkhand government Friday presented a Rs.411 crore first supplementary budget in the state assembly.Deputy Chief Minister Hemant Soren, who is also in charge of the ... Read more...

Posted in Politics |

Raghuram Rajan takes over as Chief Economic Advisor


August 29th, 2012 - 3:55 pm ICT by IANS
New Delhi, Aug 29 (IANS) Raghuram G Rajan, former IMF chief economist, took charge as chief economic adviser (CEA) in the finance ministry Wednesday."I am glad to be here," ... Read more...

Posted in Business |

Chidambaram gets into African Development Bank


August 24th, 2012 - 8:57 pm ICT by IANS
New Delhi, Aug 24 (IANS) Finance Minister P. Chidambaram has been appointed India's governor on the board of governors of the African Development Bank, an official statement said Friday.Chidambaram ... Read more...

Posted in Business |

SBI wants CRR phased out for ‘more efficient’ banking (Lead)


August 23rd, 2012 - 10:38 pm ICT by IANS
Kolkata, Aug 23 (IANS) The country's largest public sector lender, the State Bank of India (SBI) has strongly proposed phasing out of Cash Reserve Ratio (CRR) to make ithe ... Read more...

Posted in Business |

India approves Walt Disney’s Rs.1,000 crore investment


August 23rd, 2012 - 9:18 pm ICT by IANS
New Delhi, Aug 23 (IANS) The Indian government Thursday said it has approved US-based Walt Disney's Rs.1,000 crore investment proposal in broadcasting business in India.Based on the recommendations of the ... Read more...

Posted in Business |

SBI favours phasing out of CRR


August 23rd, 2012 - 5:16 pm ICT by IANS
Kolkata, Aug 23 (IANS) The country's largest public sector lender State Bank of India has strongly proposed phasing out of Cash Reserve Ratio (CRR) from the banking system, its ... Read more...

Posted in Business |

South Korean conglomerates see economy worse than 2008


August 22nd, 2012 - 1:17 pm ICT by IANS
Seoul, Aug 22 (IANS) A majority of South Korean conglomerates were seeing current economic conditions worse than those in 2008 when the global financial crisis occurred, a poll showed Wednesday.According ... Read more...

Posted in Business |

China’s slowdown hurts corporate profits


August 19th, 2012 - 2:18 pm ICT by IANS
Beijing, Aug 19 (IANS) China's economic slowdown has impacted corporate profits as profit growth in the country's listed companies largely contracted in the first half of the year, China Daily ... Read more...

Posted in World |

Education loan is a right of every student: Chidambaram


August 18th, 2012 - 7:45 pm ICT by IANS
New Delhi, Aug 18 (IANS) Finance Minister P. Chidambaram Saturday said an education loan is a right of every student and the officials with the public sector banks (PSBs) ... Read more...

Posted in Business |

Public sector bank’s non-performing assets not alarming: FM


August 18th, 2012 - 5:30 pm ICT by IANS
New Delhi, Aug 18 (IANS) Finance Minister P. Chidambaram Saturday said non-performing assets (NPAs) of public sector banks (PSBs) have risen marginally in the last fiscal and there ... Read more...

Posted in Business |

Brazil’s economy grows at fastest clip in 15 months


August 18th, 2012 - 1:24 pm ICT by IANS
Brasilia, Aug 18 (IANS/EFE) Brazil's economy expanded by 0.75 percent in June relative to the previous month as tax breaks stimulated growth, the central bank said.The uptick in the bank's ... Read more...

Posted in Business |

South Korean economic indicators weakening on sagging export


August 7th, 2012 - 1:48 pm ICT by IANS
Seoul, Aug 7 (IANS) South Korea's economic indicators related to production and investment weakened recently due to a reduction in exports, the finance ministry said Tuesday."Our economy saw stable consumer ... Read more...

Posted in Business |

Infrastructure projects bottlenecks to be removed: Chidambaram


August 6th, 2012 - 7:27 pm ICT by IANS
New Delhi, August 6 (IANS) The Cabinet Committee on Economic Affairs (CCEA) will remove bottlenecks for quicker implementation of infrastructure projects, union Finance Minister P. Chidambaram said here Monday. ... Read more...

Posted in Business |

Breaking the glass ceiling in India’s tax administration


August 6th, 2012 - 4:40 pm ICT by IANS
New Delhi, Aug 6 (IANS) Taxman may not be a proper term to use any more, given the gender of the current chairs of the direct and indirect tax administrations: ... Read more...

Posted in Business |

‘Prohibited bore guns given to 18 MPs booked for crimes’


August 2nd, 2012 - 10:38 pm ICT by IANS
New Delhi, Aug 2 (IANS) Eighteen of the 82 parliamentarians given licences of prohibited bore guns between 2001-12 had criminal charges pending against them, a study has said, hinting at ... Read more...

Posted in Politics |

Yunus fears government is taking over Grameen Bank (Lead)


August 2nd, 2012 - 8:22 pm ICT by IANS
Dhaka, Aug 2 (IANS) Nobel laureate Muhammad Yunus Thursday expressed shock at the Bangladesh government's attempt to cut the powers of the Grameen Bank's board and giving more authority to ... Read more...

Posted in South Asia |

Rajamony takes over as president’s press secretary


August 2nd, 2012 - 6:24 pm ICT by IANS
New Delhi, Aug 2 (IANS) Venu Rajamony, an Indian Foreign Service officer, who has served in Indian missions in Beijing, Washington and Geneva, Thursday assumed charge as the press ... Read more...

Posted in Entertainment |

India should not suffer grid collapse: Deveshwar


August 1st, 2012 - 11:06 pm ICT by IANS
Kolkata, Aug 1 (IANS) ITC chairman Y.C. Deveshwar said Wednesday India should not suffer a transmission grid collapse like the one witnessed a day ago."We should not have this ... Read more...

Posted in Business |

Chidambaram assumes charge of finance


August 1st, 2012 - 7:58 pm ICT by IANS
New Delhi, Aug 1 (IANS) Palaniappan Chidambaram Wednesday took charge of the finance ministry after a gap of nearly four years, raising expectations that he would take steps to ... Read more...

Posted in Uncategorized |

Economic growth will fall below 6 percent: Kaushik Basu


July 31st, 2012 - 6:35 pm ICT by IANS
New Delhi, July 31 (IANS) India's economic growth will fall below 6 percent in the first half of the current fiscal but would pick up thereafter and inflation would moderate ... Read more...

Posted in Business |

IT industry lauds PM’s move to review tax laws


July 30th, 2012 - 8:57 pm ICT by IANS
New Delhi, July 30 (IANS) The National Association of Software and Services Companies (Nasscom) Monday welcomed the initiative of Prime Minister Manmohan Singh to review tax laws pertaining to ... Read more...

Posted in Sci-Tech |

Venu Rajamony to be President Mukherjee’s press secretary


July 28th, 2012 - 7:07 pm ICT by IANS
New Delhi, July 28 (IANS) Venu Rajamony, joint secretary in the finance ministry and an officer of the 1986 batch of the Indian Foreign Service (IFS), is all set ... Read more...

Posted in Politics |

China allocates $189 mn for flood relief


July 27th, 2012 - 7:14 pm ICT by IANS
Beijing, July 27 (IANS) China has allocated 1.2 billion yuan ($189 million) for flood relief after over 70 people died in the deluge since past week.Half of the money will ... Read more...

Posted in World |

China tax collection down


July 25th, 2012 - 7:27 pm ICT by IANS
Beijing, July 25 (IANS) Government tax collections in China have decreased in the first half of 2012, the finance ministry said.Collection of taxes related to personal income and real estate ... Read more...

Posted in Business |

Now you can call an expert home for filing IT return


July 24th, 2012 - 7:27 pm ICT by IANS
New Delhi, July 24 (IANS) The government Tuesday announced a new scheme under which any tax payer can seek online help or call an expert home for a nominal fee ... Read more...

Posted in Business |

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