ECONOMY & NATION


IANS 29 February 2016
New Delhi : Focusing on rural economy and infrastructure with minor rebate for small taxpayers but amnesty for defaulters, Finance Minister Arun Jaitley on Monday unveiled a Rs.19.78 lakh crore ($300 billion) budget for 2016-17, earmarking more money for health, literacy and...

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IANS 29 February 2016
New Delhi : Declaring that prudence lies in adhering to fiscal targets, Finance Minister Arun Jaitley on Monday retained the "much awaited figure" of fiscal deficit for the current financial year at 3.9 percent of GDP, and at 3.5 percent for 2016-17.   Presenting the union budget for...

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IANS 29 February 2016
New Delhi : Terming tax disputes as a scourge of tax-friendly regime, Finance Minister Arun Jaitley, presenting the budget for 2016-17 on Monday, unveiled a new dispute resolution mechanism to minimise litigation.   He also said that Income Tax officials will be responsible for higher...

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IANS 29 February 2016
New Delhi : The government would encourage the central public sector enterprises (CPSEs) to divest individual assets like land and manufacturing units to release their asset value for investing in new projects, said Finance Minister Arun Jaitley here on Monday.   "We will encourage...

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IANS 29 February 2016
New Delhi : Continuing government efforts to deal with the high levels of non-performing assets (NPAs), or bad debts, of state-run banks, Finance Minister Arun Jaitley on Monday allocated Rs.25,000 crore towards their recapitalisation in the next fiscal.   He made the announcement...

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IANS 29 February 2016
Ludhiana : Delhi Chief Minister Arvind Kejriwal had a narrow escape on Monday when some men armed with iron rods attacked his car here, coming "within an inch of grievously injuring" him, the AAP said.   Kejriwal, whose five-day tour of Punjab ends later in the day, tweeted that his...

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IANS 29 February 2016
New Delhi : Finance Minister Arun Jaitley on Monday gave relief to small tax payers, nudged the affluent to shell out more while focusing on the rural economy with much higher fiscal outlays, as he presented India's national budget for 2016-17 in the Lok Sabha.   He also said that...

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IANS 29 February 2016
New Delhi : In a major push on infrastructure, Finance Minister Arun Jaitley on Monday announced allocation of Rs.97,000 crore for the roads sector in the union budget for the next fiscal.   This amount includes the Rs.19,000 crore he has allocated for rural roads under the...

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Moneylife Digital Team 26 February 2016
Moneylife Foundation organised an interactive session on deductions allowed under different sub-sections of Section 80 for salaried and self-employed   Many salaried people and self-employed professionals end up incorrect taxes as they are unaware of various deductions and exemptions....

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Vinod Kothari  and   Abhirup Ghosh 26 February 2016
RBI’s just tweaked its rules on SDR assets will permit banks to achieve the alchemy of transforming a non-performing asset into a standard, performing asset   The Reserve Bank of India (RBI) on Thursday did a substantial tweaking of its guidelines for strategic debt restructuring...

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Moneylife Digital Team 26 February 2016
The write-off required to make SDR cases viable is 60-80% of the loan and therefore a mere 10% increase in provisions is not enough, says Religare Capital in a report   The Reserve Bank of India (RBI) has issued new directions to banks that are going in for strategic debt...

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IANS 26 February 2016
New Delhi : Set to file an FIR against Ringing Bells Pvt. Ltd. - the makers of the controversial Rs.251 (less than $4) smartphone - Cyfuture, a Noida-based data centre and BPO, on Friday met a senior police official and is now deliberating on filing a defamation suit too.   According...

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IANS 26 February 2016
New Delhi : India's Economic Survey sees the growth rate for the coming fiscal to remain at 7-7.75 percent due to domestic factors and warns that the upcoming budget will have to contend with an unusually challenging and weak external environment.   The survey, tabled in parliament by...

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IANS 26 February 2016
New Delhi : India's trade deficit declined to $106.8 billion between April 2015 and January 2016 compared with $119.6 billion in the corresponding period of 2014-15, the 2015-16 Economic Survey said on Friday.   Forecasting a strong economic outlook for the country, the survey said...

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IANS 26 February 2016
New Delhi : As a reform measure, the Goods and Services Tax (GST) would result in dramatic changes in the Indian tax system, the Economic Survey 2015-16 said on Friday.   "GST rollout will be a major reform measure in the global tax history as it is estimated to affect 2-2.5 million...

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IANS 26 February 2016
New Delhi : India could experience export gains of more than $500 billion per year, or 60 percent increase, from joining an expanded Trans-Pacific Partnership (TPP) or participating in a comprehensive Free Trade Area of the Asia Pacific (FTAAP) and the country's national income would expand...

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IANS 26 February 2016
New Delhi : The Economic Survey for 2015-16 tabled in parliament on Friday has pegged India's growth for the next fiscal in the 7-7.75 percent range.   Reviewing the major developments during the fiscal, the survey said that according to the Central Statistics Office, the growth rate...

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IANS 26 February 2016
New Delhi : Calling for reform in the fertiliser subsidy system, the government's Economic Survey 2015-16 said on Friday that there is a major need to rationalise fertiliser subsidies and plug leakages in the system.   "There is a need to rationalise fertilizer subsidy in an input,...

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IANS 25 February 2016
New Delhi : The Rajya Sabha chair on Thursday pulled up Minister of State for Home Kiran Rijiju for not coming on time for a calling attention motion, with Deputy Chairman P.J. Kurien asking him to take parliamentary work more seriously.   The Rajya Sabha was to take up a calling...

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IANS 25 February 2016
Chennai : Anil Ambani-led Reliance Capital on Thursday announced hiving off its commercial finance division into a separate wholly owned subsidiary.   In a statement, Reliance Capital said the board of directors approved the transfer of its commercial finance division into a separate...

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