"So far PNs issued by the FIIs to overseas investors were not taxed by the Income Tax department. But after deliberations in the finance department, the PN holders may be taxed in the next budget", Shome said at an interaction organised by ICAI here today.
Mahindra Reva Electric Vehicles, a part of the Mahindra Group, today slashed the price of its electric car e2o by up to Rs 1.7 lakh by introducing a scheme under which a consumer pays a rental fee for the battery.
Hitting out at critics of UPA's management of economy, Finance Minister P Chidambaram today said the government has "pulled back" the economy from a difficult situation and put it back on a high growth path.
Today is the day after the Budget. The market yesterday itself was quite sane, the Nifty ended at day's high with a half a percent gain at 6,075. Today onwards the market is expected to back to tracking global cues and foreign institutional investors (FIIs) data.
Air India will get an equity infusion of Rs 5,500 crore in 2014-15, as per the interim budget presented in Parliament today. Air India has been allocated Rs 5,500.10 crore as equity infusion during the year.
The government today cut its disinvestment target by more than half to Rs 16,027 crore for the current financial year and pegged the proceeds at Rs 36,925 crore for 2014-15. In the Budget last year, Finance Minister P Chidambaram had estimated to mobilise Rs 40,000 crore by selling minority stakes in state-owned companies.
According to Shikha Sharma, MD & CEO, Axis Bank to the extent that the planned expenditure is going to be lower is already factored into the numbers since it is already February 17 today. So the expenditure number for next six weeks is not going to have that much of an impact in terms of growth or orders, said Sharma
Prices of automobiles, including cars, sports utility vehicles and two-wheelers, are set to come down with Finance Minister P Chidambaram today announcing a reduction in excise duty in the interim Budget.
Rejecting arguments of "policy paralysis", Finance Minister P Chidambaram today said the economy is more stable than what it was two years ago following several steps taken by the government and that the growth will be higher in the second half of the fiscal.
Prime Minister's Economic Advisory Council (PMEAC) Chairman C Rangarajan says one can expect tremendous pressure on increasing the plan expenditure that Finance Minister P Chidambaram left unchanghed in today's Vote on Account.
Today is a big day for us; it's a Vote on Account but anecdotal evidence would tell us that even the full Budget at times have not been massive triggers for the market to either breakout or breakdown except for the couple of times and this is an interim Budget.