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GAAR from April 1, 2017; to be invoked in fair, rational manner: CBDT

GAAR from April 1, 2017; to be invoked in fair, rational manner: CBDT

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.

Economic Survey moots formation of public sector asset rehabilitation agency Economic Survey moots formation of public sector asset rehabilitation agency

The Economic Survey 2016-17 tabled in Parliament on Tuesday by Finance Minister Arun Jaitley has mooted the formation of a centralised public sector asset rehabilitation agency (PARA).

Economic Survey 2017 advocates reforms to unleash economic dynamism, social justice Economic Survey 2017 advocates reforms to unleash economic dynamism, social justice

India needs an evolution in the underlying economic vision across the political spectrum and further reforms are not just a matter of overcoming vested interests that obstruct them, the Survey said.

PM Narendra Modi hopes for comprehensive discussions during Budget session PM Narendra Modi hopes for comprehensive discussions during Budget session

Ahead of the start of the Budget session, Prime Minister Narendra Modi on Tuesday hoped for a comprehensive discussion in Parliament.

Budget session of Parliament: Over Rs two lakh crore sanctioned under Mudra scheme, says President

President Pranab Mukherjee on Tuesday said the government has provided over Rs two lakh crore through 5.6 crore loans sanctioned under the Pradhan Mantri Mudra Yojana.

 

Budget session of Parliament 2017 historic: President Pranab Mukherjee Budget session of Parliament 2017 historic: President Pranab Mukherjee

President Pranab Mukherjee on Tuesday said the Budget Session of Parliament was historic as it heralded the advancement of the budget cycle as also the merger of the railway budget with general budget.

Economic Survey 2017 Overview: India's GDP to grow between 6.75-7.5% in FY 2017-18 Economic Survey 2017 Overview: India's GDP to grow between 6.75-7.5% in FY 2017-18

A day before the presentation of Union Budget 2017, the Economic Survey on Tuesday pegged the country's economic growth at a conservative level of  6.75-7.5 percent for the next fiscal.

Budget Session of Parliament 2017: Demonetisation decision to fight black money and corruption, says President Pranab Mukherjee Budget Session of Parliament 2017: Demonetisation decision to fight black money and corruption, says President Pranab Mukherjee

President Pranab Mukherjee on Tuesday said the Budget Session of Parliament was historic as it heralded the advancement of the budget cycle as also the merger of the railway budget with general budget.

Economic Survey 2017: Key things to watch out for Economic Survey 2017: Key things to watch out for

Here are the key things to watch out for during the tabling of Economic Survey for 2017-18.

Budget session of Parliament to begin today Budget session of Parliament to begin today

The Budget session of Parliament will begin on Tuesday, a day before the presentation of Union Budget 2017-18.

Economic Survey 2017 to be tabled in Parliament shortly Economic Survey 2017 to be tabled in Parliament shortly

The Economic Survey is the Finance Ministry's view on the annual economic development of the country that gives a broad idea on the macro-economic data, which will impact the budget decisions.

 Seventh Pay Commission: SBI releases Rs 3,323 crore to Defence Pensioners Seventh Pay Commission: SBI releases Rs 3,323 crore to Defence Pensioners

State Bank of India (SBI) on Monday said it has released arrears to the tune of Rs 3,323.24 crore of around 9.94 lakh defence pensioners under the 7th Pay Commission on December 29.

India fastest growing economy under PM Narendra Modi, says BJP India fastest growing economy under PM Narendra Modi, says BJP

Rejecting Congress' charge that the economy is not doing well, the BJP Monday said India has become the fastest growing major economy under the leadership of Narendra Modi and the current account deficit will be eliminated in the next few months.

Budget 2017: Govt may hike agri-credit target to Rs 10 lakh crore

The farm credit target is likely to be raised by a whopping Rs 1 lakh crore to Rs 10 lakh crore in Budget 2017-18 in order to increase credit flow in the agriculture sector.

Budget 2017: Govt needs to overhaul its approach towards agriculture Budget 2017: Govt needs to overhaul its approach towards agriculture

Agriculture is consistently losing its importance in India's economic growth.

Budget 2017: Privatise 100 PSUs, develop 50 stations via PPP model by end of 2017: CII Budget 2017: Privatise 100 PSUs, develop 50 stations via PPP model by end of 2017: CII

In the wish-list to Finance Minister Arun Jaitley before budget, CII has asked for Privatisation of 100 PSUs, including sale of Air India and Ashoka Hotel, and developing 50 train stations with private participation by 2017-end.

Coal scam cases: SC asks CBI to file chargesheet by February

Supreme Court Monday directed the CBI to file chargesheets in coal scam cases in which probe has been completed by February and expeditiously take pending approvals from competent authorities in other cases.

As RBI lifts limit on cash withdrawal, EC might ask candidates to open current accounts As RBI lifts limit on cash withdrawal, EC might ask candidates to open current accounts

With the RBI lifting the ban on daily restrictions on cash withdrawals from ATMs and current accounts from February 1, the EC feels that it could help candidates to tide over currency crunch in meeting election expenses.

I-T begins action under Benami Act; issues 87 notices; attaches 42 assets worth crores I-T begins action under Benami Act; issues 87 notices; attaches 42 assets worth crores

Initiating a stringent action against black money holders post notes ban, the Income Tax department Monday said it has issued 87 notices and attached bank deposits worth crores in 42 cases nationwide under the newly enforced Benami Transactions Act which attracts a heavy penalty and rigorous jail term of a maximum 7 years.

Budget 2017-18: Arun Jaitley may look to soften note ban woes by tax relief Budget 2017-18: Arun Jaitley may look to soften note ban woes by tax relief

As Finance Minister Arun Jaitley presents his third full-fledged Budget on Wednesday, he will be faced with the tough challenge of reviving growth especially in the wake of the note ban and the declining growth rate.

No ATM withdrawal limit from February 1, cap on savings accounts to continue No ATM withdrawal limit from February 1, cap on savings accounts to continue

In a big relief to people and small businesses, RBI on Monday announced lifting of restrictions on daily withdrawal of money from ATMs and from current accounts but the weekly limit of Rs 24,000 on savings bank accounts will continue.