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.
Amid speculations that the Union Budget may be deferred by a day post the demise of former minister of state for external affairs and Indian Union Muslim League (IUML) MP E. Ahamed, Minister of State for Finance Santosh Gangwar on Wednesday said that Lok Sabha Speaker Sumitra Mahajan would take a final call on whether the House will be adjourned or not.
An Indian-American donor and supporter of US President Donald Trump has said fears about the H-1B overhauling is "overblown" and the issue is unlikely to cause trouble in bilateral ties.
Finance Minister Arun Jaitley will present the Union Budget for the 2017-18 fiscal on Wednesday aimed at boosting economic growth through additional spending.
Evaluating the effectiveness of MGNREGS, the Economic Survey today said there is misallocation of resources under the rural employment scheme as only one-third of funds are spent on states which account more than 50 per cent of poor in the country.
Niti Aayog vice-chairman Arvind Panagariya today expressed hope that the economic growth in the next fiscal year would be in the range of 7-7.5 percent.
As Finance Minister Arun Jaitley presents his third full-fledged Budget on Wednesday, all eyes will be on him with high expectations especially in the wake of demonetisation and the slowing growth rate.
Running trains at 200 kmph on the Delhi-Howrah and Delhi-Mumbai routes, allocation of Rs 20,000 crore for safety upgrade and customised trains for agri products are likely to be in focus as Finance Minister Arun Jaitley presents the first Rail Budget subsumed in the General Budget tomorrow.
India GDP grew by 7.9 percent in 2015-16, revised up from 7.6 percent estimated earlier, Central Statistics Office (CSO) said in a statement on Tuesday.
India has become one of the largest recipients of foreign direct investment on account of reform measures taken by the government, the Economic Survey for 2016-17 said on Tuesday.
Confident of economic recovery post demonetisation, Chief Economic Adviser Arvind Subramanian on Tuesday said remonetisation will be completed in a month or two and growth will pick up once the process is over.
Adding colour to an otherwise dull and dry Economic Survey, its lead author Chief Economic Advisor Arvind Subramanian on Tuesday said the endeavour was to make it look like an Amitabh Bachchan blockbuster with "some drama, some tragedy and some comedy".
The Economic Survey 2016-17 presented in parliament by Finance Minister Arun Jaitley on Tuesday said good fiscal performance by states needed to be incentivised to track overall performance.
New estimates based on railway passenger traffic data reveal annual work-related migration of about 9 million people, almost double what the 2011 Census suggests
Fiscal deficit in the first nine months of 2016-17 touched 93.9 percent of the Budget target against 87.9 percent for the same period a year ago.
It is not just demonetisation which is threatening the world's fastest growing economy tag of India. A spike in oil prices too may have dampening impact on the growth, the Economic Survey said today.
The Economic Survey 2016-17 tabled in Parliament on Tuesday by Union Finance Minister Arun Jaitley showed that foreign equity inflows during the first six months of 2016-17 fiscal grew by 30.72 percent.
Even as the Niti Aayog has said that India does not have the necessary financial resources for the project, the government`s Economic Survey 2016-17 presented on Tuesday advocated a Universal Basic Income (UBI) scheme as an alternative poverty reduction mechanism in place of various ongoing social welfare programmes.
Playing down huge sell-off by foreign investors in Indian markets, the Economic Survey today said FPI outflow last year was not an India-specific phenomenon as most emerging markets witnessed a pullout due to higher returns in advanced economies.
The 13-year old FRBM Act will need to be modified to provide fiscal policy direction for "the India of tomorrow", the Economic Survey said today.