ECONOMY & NATION


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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Domestic passenger car sales increased by 4.99 percent in 2014-15 and stood at 1,876,017 units from an off-take of 1,786,826 units in 2013-14, industry data showed Friday.   This is the first time in three years that passenger vehicle sales have recorded positive growth. High fuel and...

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“All subscribers will benefit from the reduced ceilings... competitive pricing below the new ceiling levels is expected,” the regulator said in a statement   Aiming to give some benefit to mobile phone subscribers, the telecom regulator has reduced tariff ceiling for national roaming...

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The Baa3 rating incorporates the risk that higher levels of growth and infrastructure development will be accompanied by higher leverage   Global ratings agency Moody's on Thursday enhanced India's sovereign rating to positive from stable, expecting positive steps from policy-makers...

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Moneylife Digital Team 08 April 2015
It took a push from the RBI governor for banks to start reducing base rate for lending    Following strong push from Dr Raghuram Rajan, the governor of Reserve Bank of India (RBI), several banks have started reducing their base rate for lending by up to 25 basis points or 0.25%. ICICI...

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Justice Rajiv Shakdher restrained the Aam Aadmi Party and the legislator from further distributing ID cards bearing the state emblem to volunteers   The Delhi High Court on Wednesday issued notice to the AAP and its legislator Rituraj Govind on a plea seeking action against them for...

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PM Modi said the input subsidy given to distressed farmers would be enhanced by 50% of the existing amounts   Prime Minister Narendra Modi on Wednesday said farmers would be eligible for input subsidy if 33% of their crop has been damaged against the prevailing...

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Moneylife Digital Team 08 April 2015
SpeakAsia, the online survey scam, which duped thousands is facing a Rs2,276 crore cheating case. The Enforcement Directorate has attached bank balances of over Rs100 crore from accounts related with SpeakAsia   The Enforcement Directorate (ED), has attached bank balances worth...

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The move is aimed at benefiting some 58 million small businesses in the country, who account for a mere four percent of institutional funding, despite employing over 120 million people, many from unprivileged strata of society, the officials said   Prime Minister Narendra Modi on...

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The country's food grains production was 266 million tonnes in fiscal 2013-14   Food grains production in just-concluded fiscal (2014-15) is likely to be 257 million tonnes against the target of 261 million tonnes, resulting in a shortfall of four million tonnes, according to the...

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Moneylife Digital Team 07 April 2015
Overruling the ITAT's order, the HC said prize money of Rs1 lakh received by the India Today Editor as award would be a capital receipt and hence not taxable under the Act   In a significant decision, the Delhi High Court has held that prize money received by India Today Editor Aroon...

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Moneylife Digital Team 07 April 2015
While keeping key rates unchanged, the RBI said despite weak credit off take and the front loading of two rate cuts, transmission of policy rates to lending rates has not taken place   The Reserve Bank of India (RBI), in its first bi-monthly credit policy review on Tuesday has kept...

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The eastern and western rail freight corridor projects are expected to be game changers in the country by creating the much required rail transportation capacity, GMR added   GMR Infrastructure said on Monday that a consortium led by the company has won the bid for construction of the...

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The company allegedly failed to pay taxes on gains made by its former parent in a share transfer transaction in fiscal 2006-07   Cairn India on Monday moved Delhi High Court seeking quashing of income tax department's demand order to pay Rs20,495 crore tax.   The company...

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Morgan Stanley has forecasted a sustainable lower inflation path of 5% to be achieved from April, and expects inflation to decelerate to 4.75% by December this year   With the rural wage growth coming down to a nine-year low at 5.5% this January and inflation seemingly stabilizing,...

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President Pranab Mukherjee said that the adverse impact of ecological degradation and climate change has emerged as a major concern the world over   India's mineral and mining sector face an acid test in sustaining growth potential of the economy with the country's mineral wealth...

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A section of the media has reported that the Central Bureau of Investigation (CBI), probing the multi-crore-rupee Saradha scam, has sent notice and sought a detailed report of Trinamool Congress's accounts from 2010 to 2014   The Trinamool Congress on Tuesday denied having received...

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India isn't so vulnerable that every demand is termed tax terrorism    India will neither promote tax terrorism nor can it become a tax haven, Finance Minister Arun Jaitley said on Monday, assuring a fair compliance window to those with ill-gotten money overseas to come clean, and a...

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