With a sharp fall in global crude price making aviation turbine fuel (ATF) cheaper in the domestic market, the government is unlikely to consider aviation ministry's proposal to lower central levy on jet fuel, which accounts for nearly 40 per cent of an airline's operating cost.
The Reserve Bank of India (RBI) governor Raghuram Rajan went against the majority view of external members of the Technical Advisory Committee (TAC) and kept the interest rate unchanged in the monetary policy review on August 4.
The government on Tuesday said it is considering reconvening parliament to make another attempt to pass a major tax reform aimed at boosting economic growth.
The Sebi board on Monday approved a set of proposals including new rules for commodity market, easing norms for anchor investors in public offers and exemption of ESOP transaction from insider trading regulations.
Union finance minister Arun Jaitley on Sunday announced that the Centre will "very soon" put out the first set of corporate tax exemptions to be phased out for discussion, even as he chided India Inc for holding back on investments to push growth and expecting only the government to act.
Caught in a legal bind on the issue of providing relief to foreign institutional investors from minimum alternate tax (MAT) for previous years, the government has been suggested a way out of the tangle by a panel appointed by it that said in its report that as per existing laws this levy is not applicable on them.
As part of its efforts to curb black money, India has decided to conclude a pact with Seychelles to exchange information on tax avoidance and evasion.
The Finance Ministry on Thursday said that it is looking at improving disclosure norms for Participatory notes and has no intention to suddenly disallow use of the derivative instrument that is used by foreign investors in Indian markets who do not want to directly register with local authorities here.
Amidst persistent rate cut calls from the government and the industry, RBI Governor Raghuram Rajan on Thursday said the central bank is keeping a watch on monsoon and global factors to assess their impact on inflation.
Finance minister Arun Jaitley is stepping up pressure on the RBI to cut rates as the economy struggles and price rises slow, with some bureaucrats working behind the scenes to