Options are derivatives which give a buyer the right but not the obligation to buy or sell an underlying asset or instrument at a specific price on or before a certain date.
During his three-day stay in Washington, Jaitley will hold bilateral meetings with US commerce secretary and participate in an interactive seminar organised by Ficci. He will also attend the G-20 finance ministers' and central bank governors' working dinner on October 12.
The GST Council, chaired by Finance Minister Arun Jaitley and comprising state counterparts as members, had on Friday last cut rates on 27 items. These included lowering rates on man-made yarn to 12 per cent from 18 per cent as well as zari job work to 5 per cent from the 12 per cent earlier.
The one-hour meeting, which saw participation from various companies, offered the status report on capex (capital expenditure) spending.
When Corporate Social Responsibility (CSR) clause was put in the Companies Bill, there was opposition from the corporates, the minister said.
Toyota Kirloskar Motor, Mercedes-Benz, Audi and BMW were unanimous that increase in cess on large, luxury cars and SUVs that had become cheaper after GST rollout would dampen the spirits of the industry across the entire value chain.
"Even in the case of GST now, we are just having the initial voluntary compliance today going on. When the matching of bills takes place, whether that voluntary compliance is fair and to what extent will become clear," he said while speaking at a book launch event organised by Wolters Kluwer.
A bench of Acting Chief Justice Gita Mittal and Justice C Hari Shankar said the appeal filed by Kejriwal and AAP leader Ashutosh against the July 26 decision of a single judge was "misconceived and is devoid of merit".
The government has given the go-ahead to the RBI to issue Rs 200 notes, a move that is aimed at easing the pressure on lower-denomination currency.
Jaitley said a ministerial panel will be set up to supervise merger proposals from banks' boards, adding that the objective of the planned consolidation was to create strong banks.
Finance Minister Arun Jaitley's fifth Union Budget will sport a different look, starting with a lighter `Part B’ with fewer indirect tax changes because of GST
The GST Council, chaired by Finance Minister Arun Jaitley and comprising state counterparts, had in June allowed businesses extended timeline for filing final GST returns in forms GSTR-1, GSTR-2 and GSTR-3 for July and August.
It will feature four banking stocks -- SBI, Axis Bank, Bank of Baroda and Indian Bank -- other than CPSEs such as Nalco, ONGC, IOC, BPCL and Coal India.
Replying to a debate on the Banking Regulation (Amendment) Bill, 2017, Jaitley said the Reserve Bank has already identified top 12 loan defaulters and more cases will be taken up by them for resolution.
Responding to a Zero Hour mention of the SBI's decision to cut interest rate on saving accounts with less than Rs 1 crore deposit to 3.5 per cent from 4 per cent, he said to protect the interests of senior citizens, the government has already floated a deposit scheme that guarantees 8-plus per cent interest rate.
In a competitive market, challenges are different and a "proper decision" would be taken on what Air India has to do in such a market, Jaitley said in the Lok Sabha.
Hindustan Petroleum Corp Ltd (HPCL) will remain a public sector unit with a separate board and brand identity post Oil and Natural Gas Corp (ONGC) acquiring government's entire 51.11 per cent stake, which at current prices is valued at about Rs 28,800 crore.
"The matter of changing financial year is under consideration," Jaitley told lawmakers in a written reply to the lower house of parliament.
Finance Minister Arun Jaitley, who was speaking on the issue of lynchings in the Rajya Sabha on behalf of ailing Home Minister Rajnath Singh, made it clear that the central government could not be blamed for violence by some people.
Pitching the GST as a measure beneficial for the country at a meeting of the BJP parliamentary party attended by Prime Minister Narendra Modi, senior leaders and party MPs, Jaitley said prices of goods has come down between four to eight per cent since its roll-out on July 1.
At the meeting, the commerce and industry ministry will make a detailed presentation on proposed changes to streamline the FDI regime in the country.
"It is a fact that people in the unorganised sector are much higher than the organised sector, but the former gets credit with a lot of difficulty," he said at an event organised by the National Bank for Agriculture and Rural Development (Nabard) here.
The legislator, Parul Sahu, said she wrote a letter to the finance minister two days back after talking to working women, young students and social workers over the issue.
"The overall incidence of tax after implementation of GST will be less especially in case of the consumer goods than the present incidence of tax, therefore, it is imperative on part of the trade and industry to pass on these benefits to the consumers at large," Jaitley said.
Jaitley had invited Russian firms to come forward with proposals for technology transfer to Indian companies and facilitate joint manufacturing of advanced military platforms.