Bulk of black money within India, says Finance Minister Arun Jaitley

Finance Minister Arun Jaitley has said that bulk of black money was still within the country and called for a change in the attitude of people so that plastic currency becomes the norm and transactions in cash an exception. In an article ‘The NDA government’s campaign against black money’ posted on his Facebook page on Sunday, Jaitley said the government ... Read More »

Pending tax issues will be referred to Shah panel, says CEA Arvind Subramanian

Legacy tax issues like those involving Cairn and Shell can be referred to AP Shah panel for quick resolution, says Chief Economic Adviser Arvind Subramanian who feels the old issues that have held back private investments also need to be worked out. Moving to defuse a row with overseas funds about back-dated tax demands, the government had last month spared ... Read More »

Sovereign Gold Bonds scheme 2015: Top 10 frequently asked questions (FAQs)

Sovereign Gold Bonds scheme 2015 was launched on Thursday by PM Narendra Modi. In all, 3 schemes, including Sovereign Gold Bonds, were opened for purchase by the public. The Sovereign Gold Bonds scheme, like the other two, are aimed at reducing physical gold demand and to bring into circulation in the financial system the whopping 20,000 tonnes of idle yellow ... Read More »

Government lights up power sector

With the outstanding loans of state electricity boards (SEBs) touching a whopping Rs 5 lakh crore and at least three of them making losses of over Rs 10,000 crore a year each, the Centre has laid out a road map for their revival. Unlike the previous two attempts in the last 13 years to salvage SEBs, the latest one doesn’t ... Read More »

Editorial: New debt solution

hould the recommendations of the Bankruptcy Law Reforms Committee be accepted, lenders in India will finally get some teeth and will feel a lot more secure because they will play the biggest role in deciding the future of a defaulting firm. As the committee has noted, the appropriate disposition of a defaulting firm is a business decision and “only the ... Read More »

Unveiling the Future

Less than 45 days after prime minister Narendra Modi’s visit to Silicon Valley, the return visits have started. First Facebook’s Mark Zuckerberg attended a town hall at IIT Delhi last month. On Thursday, the first edition of Microsoft’s Future Unveiled was launched by CEO Satya Nadella in Mumbai. That’s also because Maharashtra houses two of Microsoft’s three data centres in ... Read More »

Linking politics to development hurting India; infra key to growth: PM Narendra Modi

Prime Minister Narendra Modi today said linking politics to development has been the biggest obstacle in India’s growth. The key to progress lies in robust infrastructure and efforts have led to rolling out of stuck projects worth Rs 4 lakh crore, he added. Asking states to create a sound infrastructure in order to ensure that development percolates down to the ... Read More »

India to deal with volatility in global financial markets: Arun Jaitley

India will continue to be in a state of full preparedness to deal with any eventuality due to volatility in global financial markets, the finance ministry said on Thursday after a meeting of the Financial Stability and Development Council (FSDC). The FSDC, headed by finance minister Arun Jaitley, also deliberated on the issue of rising bank NPAs, corporate sector balance ... Read More »

Cabinet clears power sector rescue package; Piyush Goyal says ‘Rs 4.3 lakh cr debt accumulated with discoms’

Cabinet approved a rescue package for its loss-making electricity utilities on Thursday, Power Minister Piyush Goyal said, a move Prime Minister Narendra Modi hopes will increase the supply of power and help spur economic growth. Power Minister Piyush Goyal said after a meeting of the cabinet that the government had cleared the package, which it has been working on for ... Read More »

Moody’s Analytics stands by its report; says report part of economic outlook series

Moody’s Analytics today stood by its report that had asked Prime Minister Narendra Modi to keep BJP members in check or risk losing global credibility and said it was part of its ‘economic outlook series’, a day after the government had berated it. “The report was published by and is the view of Moody’s Analytics as part of its economic ... Read More »