Government
Crackdown on tax havens tops India agenda at G20
The growing popular attitude against tax havens, which is used by the high net worth individuals in order to avoid taxes, will form a big part of the program for the G-20 meeting at St Petersburg, Russia. However, India is all set to press for a serious clamp down on tax havens yet again. Moreover, [...]
Economy to get strong after two quarters: Planning Commission
The Planning Commission stated that India”s economy is becoming stable and will remain a favoured destination for foreign investors as normality returns to global markets. However, it said that there had been a raise in credit growth and foreign capital inflows were likely to increase in coming months. Additionally, earlier this month, the Planning Commission [...]
Government simplifies import of carbon black
As the government has removed restrictions on wheeling in the product, import of carbon black, used in tyre manufacturing, has been simplified. However, the import of the product falls under free policy. Moreover, as per the industry players, the move would ease procedures for import of the item, although the anti-dumping duty on carbon black [...]
Centre may allow PSU coal miners to revise prices next month
The Centre might allow PSU coal miners Coal India Ltd (CIL) and Singareni Collieries Company Ltd (SCCL) to revise prices next month. However, since early this financial year, coal companies have been lobbying for approximately 10-12% upward revision in price to balance the raised wage costs, following the last coal wage agreement and the pay [...]
IRDA to raise lock-in period for ULIPs to 5 years
Insurance regulator IRDA stated that it would raise the lock-in period from 3 to 5 years, in a bid to check mis-selling of Unit Linked Insurance Policies (ULIPs) where ULIPs are investment cum insurance products, which invest in equity and debt market depending on the choice of the policyholders. However, the circular in this matter [...]
Economy recovering but modestly: Pranab
The Finance Minister Pranab Mukherjee conveyed assurance that economy will pick up during the second half of current fiscal while the overall growth will be moderate and the stimulus for revival of industry would not be an annual affair. However, in hope that industry would follow the growth trend of July, a month that saw [...]