Page 2212 - Economy & Policy News

A pinch here, a windfall there: Govt's fuel tax earning explained in charts

The effective tax on petrol now stands at 105 per cent, or Rs 35.5 per litre, and excise duties contribute a healthy Rs 20 per litre

Budget 2019: India redirects foreign aid to Indian Ocean countries

After Bhutan, which has been allocated Rs 2,802 crore this year, tiny Mauritius will be the second-largest recipient of Indian aid

DoT likely to start tracking system for lost mobile phones next month

The tracking system would make the detection of stolen mobile phones possible even if the SIM card is removed or unique code IMEI number is changed

Budget impact: Super-rich tax hits 1,000 executives in corporate India

Overall, 901 listed companies had 1,720 officials earning more than Rs 1 crore in FY18

Monsoon deficiency falls to 21%; east, northeast see lowest rainfall: IMD

According to the Central Water Commission, of the 91 major reservoirs in the country, 62 water bodies reported 80 per cent or below of normal storage

'High-risk remittance' data under Income Tax department's scanner

The Income Tax Act empowers the CBDT to capture information in respect of payments to non-residents, whether taxable or not

Budget 2019: NHAI fundraising plan raised by 21% to Rs 75,000 crore

This financial year, allocation has been made to the NHAI for major works under the Bharatmala Pariyojana, entrusted to the organisation for execution

Union Budget 2019: Discoms buying from gas units to now get subsidy

Of the 24,150 Mw of gas-based power generation capacity, 14,305 Mw has no supply of domestic gas

20% tax on buyback may put firms with high promoter shareholding in a fix

Under the current framework, the dividend distribution tax borne by the company is effectively taxed at the rate of 20.56 per cent

Budget 2019: Boost for EVs evokes mixed reactions from auto industry

The income tax rebate of Rs 1.5 lakh for EV buyers along with GST rate of 5% will encourage buyers in the personal mobility space to "seriously consider EVs", believe industry experts

Budget impact: Electronic, fashion brands may accelerate India plans

Finance Minister Nirmala Sitharaman said the 30 per cent local sourcing norms in single-brand retail would be relaxed as she sought to make India an attractive destination for foreign players

TDS on Rs 1-crore cash withdrawal aimed at cracking down on black money

The ministry said that the 2% tax, announced in last week's budget and to start in September, was prompted by information showing misuse

Budget 2019 in charts: Social sector spending rises, except on education

Education now occupies a smaller share in the overall social sector expenditure

Budget 2019 proposes tax incentives to make GIFT City global financial hub

Standard Chartered Bank is setting up an international banking unit primarily to look after Indian company requirements

Plan to tap global mkts for govt borrowing added at last minute in Budget

The investors said that this was necessary for India to push for more foreign investors to pick up stakes in the bankruptcy-hit companies

Surplus sugar 'big problem', mills should produce ethanol instead: Gadkari

Gadkari was speaking at the 'Sugar Conference 2020', organised by the Maharashtra State Co-op Bank Ltd here

GST amendments via Finance Bill: A cheeky run by Modi government

The government seems well within its ambit to amend the law through the Finance Bill

FM bowls a googly: Living on the edge with widening black money net

A threat of getting prosecuted under both Income Tax Act and Black Money Act

UP sugar mills to face police complaints if they don't pay farmers arrears

Mills owe farmers at least Rs 9,000 crore after end of the crushing season.

Budget 2019 is a delicate balancing act with focus on social outcomes

The finance minister has balanced allocations across development, fiscal prudence and competing socio-economic priorities