ECONOMY & NATION


Venkatachari Jagannathan (IANS) 20 April 2015
On April 15, the Central Board of Direct Taxes (CBDT) had notified new norms and the attendant forms that, among other issues, requires an assessee to furnish all bank details, opened or closed in the year with the closing balance, as also the sources of funds for expenses in an overseas...

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The finance minister said the government had taken the position that in cases where the courts had given their verdict in favour of the companies, no appeal will be filed despite such an option existing   Even as court battles continue over tax demand on foreign firms on deals entered...

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According to the ratings agency, low inflation rate has enabled the Reserve Bank of India (RBI) to cut interest rates by 50 basis points in early 2015 which has helped in easing pressure on the private sector   A week after it revised its outlook on India to positive from stable,...

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Pradhan, who arrived in Assam on Tuesday on an official tour, visited oilfields and refineries in Assam, including the oilfields in Digboi, Duliajan, Nazira, the Numaligarh refinery and the Guwahati Refinery   Union Minister of State for Petroleum and Natural Gas Dharmendra Pradhan on...

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The Congress vice president has been on a leave of absence since parliament's budget session began on February 23   Congress vice president Rahul Gandhi has returned to the national capital after nearly two months' absence, officials said on Thursday.   "He (Rahul Gandhi) is...

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Following its first public notice for "naming and shaming" tax defaulters last month, the Income Tax department on Wednesday published a list of another 31 defaulters, who collectively owe more than Rs.1,500 crore in arrears.   The earlier list, published on the last day of the...

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he Delhi High Court on Wednesday fined the Aam Aadmi Party (AAP) and four of its members, including Alka Lamba, Rs.10,000 each for their delay in filing their written statements on a defamation plea moved against them by former party member Vinod Kumar Binny.   Joint Registrar Neera...

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Modi's message that India was 'open for business' as a rising economic power was what made his visit to Canada all the more 'significant', the daily said in an editorial   Prime Minister Narendra Modi will have an uphill task in trying to open up his country's economy for business,...

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India's annual rate of wholesale inflation decelerated further to (-)2.33 percent (March 2015 over March 2014) from (-)2.06 percent for the previous month on the back of a major decline in prices of fuels and minerals, official data showed on Monday.   The commerce ministry data on...

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Shiv Sena candidate Trupti Sawant was elected to the Maharashtra assembly in the prestigious by-poll from Bandra East constituency here, trouncing her chief rival, Congress candidate and former chief minister Narayan Rane, officials said here on Wednesday.   Sawant, widow of former...

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Nationalist Congress Party candidate Suman Patil was elected to the Maharashtra assembly in the by-poll from Tasgaon-Kavthemahankal constituency with a huge margin over her rebel BJP rival, officials said here on Wednesday.   Patil, widow of former deputy chief minister R.R. Patil, an...

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Border Security Force personnel on Tuesday seized fake Indian currency notes (FICN) with a face value of Rs.8 lakh while being smuggled from Bangladesh into West Bengal's Malda district.   The seizure was made during a special operation by the 20 battalion of the BSF under Daulatpur...

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The Shiv Sena has demanded proper and honourable rehabilitation of the displaced Kashmiri Pandits of Jammu and Kashmir who were forced to flee their home-state over 25 years ago.   "Jammu and Kashmir now has a stable government of the BJP and the PDP, and a strong administration led...

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Assam Police on Tuesday arrested Congress legislator Rumi Nath for her alleged nexus with the notorious kingpin of auto theft racket Anil Chauhan.   A senior official of the Guwahati Police Commissionerate confirmed this on Tuesday and added that Nath was arrested for two cases - one...

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The World Bank has forecast India's growth accelerating to 8 percent in the next fiscal and said the country is well-placed in a region that has not only logged the highest economic expansion but would benefit the most from cheaper oil bill.   According to the bank's South Asia...

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India's consumer price inflation for March eased to 5.17 percent from 5.37 percent in February 2015, government data showed on Monday.   The March CPI was considerably down from 8.25 percent recorded in the corresponding month of 2014.   The CPI urban for March stood at 4.75...

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Gokul Bhagabati (IANS) 13 April 2015
The chairman and managing director of the Rs8,000-crore group, which counts Sylvania, Standard and Crabtree in its stable of brands, said at the facility in this Rajasthan town that the threat of unhealthy completion from Chinese electrical goods was no longer relevant   With...

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Prime Minister Narendra Modi said on Sunday that India was building a predictable, stable and competitive tax regime and the policies have been reformed towards more foreign direct investment.   In his addresss at the inauguration of Hannover Messe industrial fair, in which India is...

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The cumulative growth for April 2014-February 2015 stood at 2.8%, while the figure for the corresponding period of the previous fiscal stood at a negative 0.1%   Industrial activity in the country, measured in terms of the Index of Industrial Production (IIP), registered a 5 percent...

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MUDRA’s listed role and functions carry with them a lot of ambiguity and confusion. Is even the Reserve Bank of India clear as to what role MUDRA would play?   The launch of Micro Units Development and Refinance Agency (MUDRA) Bank by Prime Minister Narendra Modi before he left for...

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