BUSINESS
Indian Railways to miss asset monetisation target by over Rs 1.23 lakh crore
A slew of factors such as lack of interest from the private sector, absence of an independent regulator and stringent regulations have weighed on the Railways' asset monetisation efforts.
BUSINESS
All top 500 companies yet to engage in PM Internship Scheme, says FM Sitharaman
FM Sitharaman has sought greater involvement from leading companies, calling it essential to maximise the scheme's impact and help the youth meet industry’s expectations.
BUSINESS
MOD’s GST case next hearing on March 24, Rs 100 crore tax dispute could set precedent
The Bombay High Court’s decision on Mad Over Donuts' tax classification case could clarify GST treatment for restaurant and bakery services.
BUSINESS
Select committee on I-T bill to submit recommendations in monsoon session
The Central Board of Direct Taxes is preparing a detailed, chapter-wise presentation on the proposed bill to present before the Select committee. This will list the bill's general provisions, specific chapter-wise amendments and the underlying process and policy changes, a senior government official said.
BUSINESS
Government to redevelop over 55 acres of land from defunct pharma PSUs like IDPL in and Bengal Immunity
The government aims to utilise land from closed pharma units for healthcare and education infrastructure in Telangana, West Bengal and Uttarakhand. It has roped in NIPER, a government-owned pharmaceutical research body, to redevelop the land in Hyderabad.
ECONOMY
Govt’s active debt management to lower borrowing costs for Centre, states: FM
High-cost debts are being repaid to ease borrowing rates, Sitharaman said in the Lok Sabha during the ongoing Parliament session
BUSINESS
No decision on NMDC, KIOCL merger, says government
The Ministry of Steel had proposed merging NMDC with KIOCL, and the proposal was submitted to the Ministry of Finance around December 2024.
BUSINESS
RoC finalises report on Xiaomi, Vivo, Oppo; recommends detailed probe into fund diversion
The MCA is likely to act on the findings and may even refer the case to the Serious Fraud Investigation Office, depending on the complexity and scale of the suspected violations.
BUSINESS
MCA probe clears Hero MotoCorp of governance, fund diversion allegations
In June 2023, the ministry of corporate affairs ordered an investigation against Hero MotoCorp to look into allegations of fund diversion and corporate governance violations
BUSINESS
US tariff war may impact India’s pharma, textile, autocomp exports: Crisil
Higher tariffs on Chinese goods may lead to an influx of cheaper Chinese imports into India, which could disrupt Indian businesses.
BUSINESS
Stock markets go down for different reasons, nothing to do with taxation: DEA Secy
Amid recent market fluctuations, Economic Affairs Secretary Ajay Seth reaffirmed the government's commitment to uniform tax treatment across asset classes.
BUSINESS
Tax department's compliance nudge results in 30,161 taxpayers declaring foreign assets worth Rs 29,000 crore
The declarations came as part of the Central Board of Direct Taxes’ (CBDT) Compliance-Cum-Awareness Campaign, aimed at encouraging voluntary disclosures of offshore wealth and income.
BUSINESS
Equity market correction may weigh on consumption in FY26: Economists
Slowing bank credit growth, sustained FII outflows, and elevation valuations of Indian equities add to the cautious outlook. As investor sentiment weakens, household spending patterns could shift, affecting demand across key sectors in FY26, say economists.
BUSINESS
New I-T bill allows officials to access emails, WhatsApp chats to unearth undisclosed crypto assets
Tax officials can access communication platforms like emails, WhatsAapp and Telegram if they have a reason to believe that a person has concealed cryptocurrency or other taxable income.
BUSINESS
SFIO probing 33 firms with Chinese investments for financial irregularities
Crackdown on financial misconduct intensifies as SFIO investigates fund diversion, regulatory breaches in companies with Chinese investment.
BUSINESS
India can lead the world in leather, footwear exports, says PM Modi
Prime Minister Narendra Modi calls for focus on export opportunities, R&D and modernisation to give a boost to the manufacturing sector
BUSINESS
India to revamp bilateral investment treaty framework: CEA
The government plans to update its model Bilateral Investment Treaty framework to attract foreign investments while safeguarding regulatory interests
BUSINESS
FDI flows could be impacted due to rising risk aversion, says CEA
V Anantha Nageswaran has said it is vital for India to sustain growth over the next few years as the world economy faces pressure
BUSINESS
Centre to limit borrowing to fund effective capex from FY27; prods states to reduce revenue expenditure
These efforts come amid plans to bring down the overall debt-to-GDP ratio of the Centre and states by improving the quality of expenditure and by tempering Centre’s borrowings from the market. Meanwhile, several Indian states are increasing their expenditure on subsidies and welfare schemes, potentially at the expense of capital expenditure.
BUSINESS
MCA wants probe in 130 pending cases to be completed by month-end
The western region, which includes Mumbai and Pune, have the highest number of the pending cases
BUSINESS
16th Finance Commission may recommend on harmonisation of urban local body accounts: Panagariya
"Some progress was made by the 15th Finance Commission, and hopefully, we will try and make more progress. It is a recognised problem."
BUSINESS
India can leverage trade talks with US for better market access and reciprocal tariff cuts: Panagariya
"Improved access to the US market, particularly in the textile and clothing sectors, could provide significant benefits to Indian exporters. India can ask the US for reciprocal tariff reduction as well and get better access for our exports."
BUSINESS
India’s $9.5 trillion future within reach: Finance Commission Chairman Arvind Panagariya
The growth rate needed for per capita income growth is 7.3 percent to achieve $14,000 by 2047. With India’s per capita income in 2023-24 standing at $2,570, Panagariya emphasised that there is substantial room for further increase.
BUSINESS
Govt to leverage Digital India databases for improved data collection, processing, says Sitharaman
The move signals a broader effort to enhance the collection, processing, and management of statistics for improved fiscal transparency and governance.
