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.
India has surpassed China in the global Retail Development Index in 2017, indicating growing prominence of the country as a preferred retail destination for global brands, says a report by real estate consulting firm CBRE South Asia.
The Reserve Bank still has room to cut the key policy rate in the current fiscal, veteran banker Naina Lal Kidwai has said, while stressing that banks should pass on the benefits of lower rates to customers.
Most MPC members voted for a rate cut in August owing to low inflation momentum and signs of weaker growth.
Finance Minister Arun Jaitley on Wednesday said ongoing probes of and notices to depositors of unexplained money post note ban were among the sources to collate information about black money that figured in Prime Minister Narendra Modi's Independence Day speech.
As India celebrated its 70th Independence Day, the country has emerged as a strong world power but still has "a long way to go", top American experts feel.
Power Minister Piyush Goyal on Wednesday said India will probably be the first country in the world to use LEDs for all lighting needs by 2019, which would help the nation save over Rs 40,000 crore a year.
The RBI cut the main policy repo rate by 25 basis points to a more than 6-1/2-year low of 6 percent on August 2, in a widely expected move, but kept the market guessing on whether there is more space for trimming.
The note comes two days after data showed that headline consumer price inflation (CPI) almost doubled to 2.36 percent for July from 1.54 percent in the previous month, and a day after the wholesale price inflation also shot up to 1.54 percent from being negative in the previous month.
The government on Wednesday approved a new metro rail policy for expanding the metro network across various cities in the country, officials said.
Retail and wholesale inflation accelerated in July and the uptrend is likely to continue in the coming months, limiting the space for further monetary easing, says a Morgan Stanley report.
Detailed guidelines for the ‘Pakhwada’ have been formulated and circulated to each unit of Indian Railways and the entire network is gearing up to observe the ‘Pakhwada’ in the most effective manner.
The estimated Rs 5500 crore capital good leasing sector growing at 15-20 percent may get tapered due to high Goods and Services Tax (GST) along with few other issues.
Ujwal DISCOM Assurance Yojana (UDAY) envisages reduction in interest burden, cost of power and Aggregate Technical and Commercial (AT&C) losses. It was launched in November 2015.
These historic reforms stunned the people nation-wide. Not only it gave new heights to Indian economy but also paved way towards global recognition.
Listing the achievements of the NDA government in curbing black money, including demonetisation, Prime Minister Narendra Modi on Tuesday said that authorities had confiscated black money worth over Rs 1 lakh crore and around Rs 3 lakh crore had been brought into the banking system.
Prime Minister Narendra Modi on Tuesday urged the nation, especially the youth, to adopt the digital platform for their money transactions.
Vowing to continue the crackdown on black money, Prime Minister Narendra Modi on Tuesday said that over Rs 1.75 lakh crore deposited in banks post note-ban and more than 18 lakh people with disproportionate income are under government scrutiny.
Wholesale inflation increased to 1.88 per cent in July as prices of some commodities increased in the first month of Goods and Services Tax (GST) rollout.
The government data released on Monday showed that prices of food articles went up by 2.15 percent in July on a yearly basis. In June, the prices had contracted by 3.47 percent.
India`s trade deficit narrowed to $11.45 billion in July from a month ago, following a slowdown in merchandise imports, government data showed on Monday.