Around the Globe

Around the Globe

Disinvestment goal for FY18 may be raised to garner funds

As finance minister Arun Jaitley looks to slash taxes and ramp up spending to support the sagging economy, the disinvestment target for FY18 is set to go up. Experts said Jaitley would have to mobilise necessary reve­nue via strategic selloff to avoid fiscal slippage. Failing that, he could invite a rating downgrade from international credit rating agencies.

Looking for budget push

With the real estate and property market continuing to be in a low, thanks to the general economic conditions and the impact of demonetisation, the industry is looking ahead to the Union budget to be presented on Wednesday.

Insurers want tax exemptions to expand reach

Insurance firms feel that tax exemption could make more people buy insurance products and stay put longer. They want tax exemption for home insurance; increase its scope for life insurance and that for health insurance to be multiplied by number of years of coverage.

Camaraderie galore as Tipu, Rahul launch UP campaign

Walking shoulder to shoulder and almost identically dressed, Akhilesh Yadav and Rahul Gandhi on Sunday addressed their first joint press conference and held a roadshow here, giving a call for crushing BJP’s politics of “anger and divisiveness”.

Need for reform in direct tax provisions

In the current business environment, conglomerates are required to segregate various businesses in multiple subsidiaries which are controlled by various regulators such as the securities market regulator SEBI, the housing finance regulator NHB or the banking and payments authority RBI. Also, large companies which have business operations outside India, are expected to form separate companies for administrative and operational ease. This leads to multiple subsidiaries under a single holding company, like a Core Investment Company (CIC) or a similar holding company.

Amidst chaos and Outcry, federal judge blocks Trump’s #muslimban

Afederal judge in Brooklyn came to the aid of scores of refugees and others who were trapped at airports across the United States on Saturday after an executive order signed by President Donald Trump, which sought to keep many foreigners from entering the country, led to chaotic scenes across the globe.

Interest-free loan likely for farmers

After implementing interest-free loan to farmers in Gujarat five years ago, prime minister Narendra Modi is all set to roll out a similar scheme at the national level. This may be unveiled as a part of budget proposals, potentially influencing voters in five states going to polls.
Finance minister Arun Jaitley may announce interest-free loan of up to Rs 1 lakh to small and marginal farmers having less than three hectares land, sources said.

Jaitley may push Railway capex to Rs 1.50 lakh crore

Indian Railways could get a bonanza from the Centre to put its house in order and retrieve its lost credibility, which has taken a beating on account of series of accidents in the past few months.
Government sources privy to the development said that central gross budgetary support (GBS) for railways could see a reasonable increase in the upcoming Union budget to aid the transporter’s plan to increase capital spend on projects that strengthens safety and security feature of its network and focuses on consumer experience.

GST: Services too would have differential rates

There would be differential tax rates for services as well in the goods and services tax (GST) regime, which is proposed to be rolled out from July 1 this year. While the essential services could be zero-rated, basic infrastructure services such as mobile telephony would be taxed moderately. Luxury services would attract higher rate. Speaking to FC, a state finance minister confirmed that multiple tax rates for services would be considered and education and health services will be kept in the lower bracket.

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