Lok Sabha passes amendment in Bankruptcy code

Sat, Dec 30, 2017

 IBC was introduced in 2016, with an aim to find a time-bound resolution on companies that have become insolvent and to protect the interest of creditors. 

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India's fiscal deficit overshoots budget estimate by 112% till Nov

Fri, Dec 29, 2017

Fiscal deficit occurs when a government's total expenditure exceeds the revenue that it generates, excluding money from borrowings.

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No IT exemption to cooperative banks: govt tells Lok Sabha

Fri, Dec 29, 2017

Jaitley said most of these banks provided standard banking facilities like opening of letters of credit, bill discounting and collection, lockers and safe deposit vaults and bank guarantees.

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Additional central borrowing a negative surprise: BofAML

Fri, Dec 29, 2017

The global brokerage expects Finance Minister Arun Jaitley to hold to the fiscal deficit target of 3.2 per cent of GDP, same as 2017-18, with net borrowing of Rs 4,92,000 crore.

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Savings through Aadhaar-based DBT expected to rise: FM Jaitley

Sun, Dec 24, 2017

The central government expects the savings made through Aadhaar-based Direct Benefit Transfer (DBT) scheme, which mitigates pilferage of state subsidies, to expand. According to Finance Minister Arun Jaitley, the Aadhaar-based DBT has led to "huge savings" till now.

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Open to improvements in Aadhaar-based privacy framework: FM Jaitley

Sun, Dec 24, 2017

Union Finance Minister Arun Jaitley today said the government will remain open to any suggestions for improving the privacy framework surrounding Aadhaar. Jaitley further said that the issue of 'right to privacy' was "hopefully" settled by the Supreme Court judgement.

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2G verdict: Jaitley mocks Congress; Sibal seeks apology from BJP, Vinod Rai

Thu, Dec 21, 2017

Jaitley said today's verdict held that nobody was guilty in the case and investigation agencies would take an appropriate decision, taking facts and history into account.

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Govt favours including petro-products in GST ambit after consensus: Jaitley

Tue, Dec 19, 2017

The Centre favours including petroleum products in the ambit of the Goods and Services Tax (GST) but it would want a consensus with the states before taking such a step, Finance minister Arun Jaitley said today.

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Not all banks to get capital support in first tranche

Sun, Dec 17, 2017

Not all banks will be eligible for capital support of the government this fiscal, but those who have performed relatively better and need capital most will be considered for fund infusion, sources said.

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CAIT demands deferring of e-way Bill from Feb to April 1

Sun, Dec 17, 2017

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GST Council to meet tomorrow; discuss roll out of e-way bill

Fri, Dec 15, 2017

The all-powerful GST Council will meet tomorrow to discuss early implementation of e-way bill as well as ways to plug tax evasion.

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Central staff to seek PM's attention over minimum pay hike demand

Wed, Dec 13, 2017

There were reports that the NAC will recommend minimum pay hike to Rs 21,000 and fitment factor to 3.00 times, but inputs coming in now hint that the government may not accept these demands.

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Govt will fully protect public deposits: Arun Jaitley

Tue, Dec 12, 2017

Seeking to allay concerns of depositors over provisions of a draft law, Finance Minister Arun Jaitley today said the government will fully protect public deposits in financial institutions even as he hinted at openness to changes in the proposed FRDI Bill.

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FM asked to raise old age pension, give more thrust on disinvestment of PSUs

Mon, Dec 11, 2017

As part of pre-budget consultation meeting with leading economists, it was suggested that farmers should be given more remunerative prices for their produce keeping in view the target of maintain inflation between 4-6 per cent.

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Govt hints at reviewing rates in top GST bracket

Sun, Dec 10, 2017

After slashing the GST rates of over 200 items last month, the government today hinted at reviewing levies on the items in the top 28 % tax bracket.

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Industry pushes lower corporate tax in pre-Budget meet with FM Jaitley

Wed, Dec 06, 2017

Corporate India today sought lower tax and more incentives for investments while exporters called for quicker GST refunds at a meeting with Finance Minister Arun Jaitley in the run-up to the last full-year Budget of the NDA government before 2019 general elections.

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Agri experts ask FM Jaitley for farmers' income security in pre-budget meeting

Tue, Dec 05, 2017

It was suggested that there is need to start ‘Operation Veggies’ and focus should be given to TOP – Tomato, Onion and Potato as there is maximum volatility in their prices.

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Use discretion fairly in investigations: FM Jaitley tells DRI officials

Mon, Dec 04, 2017

The FM said that only when the success rate of prosecution and penalty is high then it would act as a deterrent for offenders. He said that with every passing generation the nature of economic offence is changing and technology is being used to commit those offences.

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Exporters file over 10,000 applications for GST refunds

Sun, Dec 03, 2017

The Central Board of Excise and Customs (CBEC) had last month started refunds for exporters of goods who have paid IGST and have claimed refund based on shipping bill by filling up Table 6A.

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8 PSU banks to raise capital from market by March

Sun, Dec 03, 2017

Some banks have already got approval from the finance ministry while others are in the process of getting the green signal for raising capital either through private placement or the rights issue, they said.

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