GAAR, it said, will come into force from April 1 and can be invoked only through a two-stage process involving a nod at the level of principal commissioner of income tax and a panel headed by a high court judge.
The Centre on Wednesday took on former prime minister Dr. Manmohan Singh for his `economy running on one engine` remark, saying that India is moving forward with the help of a single and solid engine under the leadership of Prime Minister Narendra Modi.
The Centre is likely to release its rules on a no-fly list for unruly passengers by June 20.
With the Reserve Bank of India announcing its second bi-monthly monetary policy review on Wednesday, economists expect that there would be no change to interest rates.
In a bid to boost its engagement with Bimstec, India is looking to expand the UDAN scheme of its aviation policy to countries of this regional bloc, Minister of State for Civil Aviation Jayant Sinha said on Tuesday.
The government on Tuesday said post the abolition of the FIPB, ministries will have to decide on FDI proposals within 60 days of the application and any rejection will need concurrence of the DIPP.
Continuing with their bullish stance on India for the second month, domestic institutional investors (DIIs) pumped in more than Rs 4,500 crore in equity markets in May.
The RBI's Monetary Policy Committee is expected to maintain a dovish stance Wednesday, but might go for a 25 bps slash in repo rate in August on good monsoon, says a BofAML report.
The Monetary Policy Committee (MPC), headed by RBI Governor Urjit Patel, began its 2-day meeting on Tuesday amid experts saying that the central bank is likely to hold key rates even as the government is making a case for a lower interest regime citing low inflation.
The Goods and Services Tax, to be rolled out next month as the biggest tax reform since independence, will help India achieve 9 percent growth rate, NITI Aayog CEO Amitabh Kant said on Tuesday.
The RBI on Monday said its prompt corrective action (PCA), initiated in case of some public sector banks with high NPAs, is a supervision tool and does not constrain normal banking operations for the public.
India`s service sector recovered last month due to a faster pace of new business generation and historically muted inflationary pressure, a key macro-economic data showed on Monday.
Clearing the air on audit of the firm providing IT backbone for GST, Finance Minister Arun Jaitley on Monday said the Comptroller and Auditor General of India will audit the Goods and Services Tax Network (GSTN).
Farm loan waivers will amount to 2 percent of GDP by 2019 polls as other states may follow BJP's Maharashtra and UP governments, says a Bank of America Merrill Lynch report.
Prime Minister Narendra Modi on Monday said that rollout of the new indirect tax regime -- GST from July 1 will be a turning point for the India's economy.
India has surpassed China to secure the top position among 30 developing countries on ease of doing business, according to a study that cited India's rapidly expanding economy, relaxation of FDI rules and a consumption boom as the key drivers.
Services sector activity in India grew at the fastest pace in four months in May riding piggyback on higher work orders as companies inducted more people to cope with greater workloads, a monthly survey said on Monday.
Noting that India is recovering from the temporary adverse effects of demonetisation, the World Bank has projected a strong 7.2 percent growth rate for India this year against 6.8 percent growth in 2016.
Union minister Ravi Shankar Prasad on Sunday dismissed as "completely wrong" the reports of a downturn in the Indian IT sector and said a good number of people will get jobs in the current fiscal.
Intense tariff war and high taxes are expected to squeeze Indian telecom operators, leaving a gaping Rs 1,20,000 crore deficit between the industry's earnings and its debt/payment commitments this year, says debt-laden Reliance Communications.
Sectors such as construction and real estate, beauty and wellness, organised retail, transport and logistics hold the maximum job potential in India in the near future, according to a report.