Jaitley

Here’s wishing you a happy and prosperous Dhanteras. This blog will keep track of key global and local developments impacting business and markets through the day. Important local and global political developments will also find resonance here.

Killing in name of cow 'sentiment' not acceptable: Govt

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.

India,Russia to conclude negotiations for military platforms

The roadmap includes specific activities to be concluded by both the sides, and aims to enhance cooperation in the field of political and military dialogue, besides exercises between the armed forces of the two countries.

Jaitley calls for expeditious use of penalising power by ED

Speaking at the Enforcement Directorate Day, he said the interest of the larger public takes a hit when people indulge in non-compliance and hence, the revenue department and the ED have a key role to play to catch offenders. The government, the finance minister stressed, trusts its citizens and allows them to deal in foreign exchange.

FM Arun Jaitley invites suggestions to make political funding cleaner

These were later rejected by the Lower House. The Opposition accused the Government of running roughshod by opening doors for "political extortionism" and passing "draconian" provisions in the Finance Bill.

This is how Tally CFO decodes Budget 2017

The best thing Mr. Jaitley has done is he has not tinkered too much, especially with indirect taxes and has gone with the flow which have made the markets buoyant. Overall, the economy is going in the right direction with a fiscal deficit of 3.2%.

Crisil says Budget only 'mildly supportive of growth'

Jaitley has performed a "balancing act" by refraining from stretching fiscal coffers to give a steroidal push to the economy, it said, commending the "prudence over populism" in restricting the fiscal gap to 3.2 percent.

Budget 2017: No capital gains tax, but “long-term” rule may change to 3 years

Definition of long-term could be widened to align the investment lock-in threshold with many matured economy markets; new rule may be compatible with amended tax treaties with Mauritius and Singapore

Budget 2017: Jump in industrial corridor outlay likely for Make in India push

FM may substantially raise allocation for speedier implementation of mega industrial zones; measures also on anvil for early setting up of National Industrial Corridor Development Authority (NICDA)

GST: Agreement on 2 laws, but dual control still a thorny issue

The council will again meet during January 3-4 to hammer out an agreement on the issue of dual control or "cross-empowerment".

Tax relief for small traders on digital transactions: Jaitley

Just 10 ahead of the expiry of the demonetisation scheme, Finance Minister Arun Jaitley on Tuesday clarified the latest changes in rules regarding Income Tax and old currency deposit schemes.

This week, Cabinet may consider Budget on February 1

Having decided to advance the Budget presentation by a month, the government took the line that it should not be presented in the middle of Assembly poll in Uttar Pradesh, Punjab, Uttarakhand, Goa and Manipur.

India may seek $7.5 bn in extra spending to spur growth: Sources

It would also coincide with the runup to a crucial state election early next year in Uttar Pradesh, Indian's most populous state that is home to more than 200 million people.

Jaitley writes to Andhra, Telangana CMs over GST Bill nod

Jaitley has written separate but identical letters to Andhra Pradesh Chief Minister N Chandrababu Naidu and his Telangana counterpart K Chandrasekhar Rao in this regard.

Dharmendra Pradhan pitches for cut in oil cess

After oil producers including state-owned ONGC and private sector Cairn India pleaded for reduction in cess, the ministry had written to Finance Ministry to revise the rate to 10-12 percent ad-valoren or alternatively consider introducing of a graded system of cess rate.

BJP, Congress to meet today to build consensus on GST bill

The meeting is the Centre's last attempt to convince Congress in favour of the bill. "The problem is that Jaitley wants to divide the opposition and wants to corner others. They are delaying the matter. Our leaders are ready to pass the bill," Congress leader Mallikarjun Kharge said.

Raghuram Rajan keeps suspense on extension of his tenure

Anticipating a question on extension of his tenure after the current three year term comes to an end on September 4, Rajan said he has come with a prepared statement on the issue to the press conference on the second bi-monthly monetary policy for 2016-17.

ED seeks Interpol arrest warrant against Vijay Mallya

Officials said the Enforcement Directorate (ED) has written to CBI to obtain a Red Corder Notice (RCN) against Mallya from the global police body. CBI acts as the nodal office for execution of Interpol warrants in India.

Govt raises Rs 8,152 cr via NTPC bonus debenture sale to EPFO

Disinvestment in central public sector enterprises (CPSEs) is undertaken as per the extant disinvestment policy of the government, Minister of State for Finance Jayant Sinha said in a written reply in the Rajya Sabha.

Invest and make in India: Jaitley to Australian businesses

"India could manage to become a very low-cost service provider but failed to transform into a low-cost manufacturing", Jaitley said here, adding there is an opportunity now for the same.

SC to hear plea by bks seeking to stop Mallya from leaving India

A group of banks led by the State Bank of India moved the apex court on Tuesday seeking to restrain Mallya from leaving India.

Jewellers extend strike for indefinite period

Jewellers have been on a strike since March 2, protesting against the proposed excise duty imposition on non-silver jewellery items made in the Budget 2016-17 as well mandatory quoting of PAN by customers for transaction of Rs 2 lakh and above.

RBI pores over Budget, worries on fiscal math

Finance Minister Arun Jaitley increased spending on farm and social sectors in the 2016-17 fiscal year on Monday in a boost to rural India, where most of the country's 1.3 billion people live.

Govt earmarks Rs 1,400 cr for DMIC project in 2016-17 Budget

The DMIC project has been planned as a global manufacturing and investment destination around the high speed 1,483 km length of western dedicated freight corridor of the railways as the backbone.

Amnesty like scheme for domestic black money holders

Refusing to call the compliance window an amnesty scheme, Finance Minister Arun Jaitley in his Budget for 2016-17 announced a four month window beginning June 1 for holders of unaccounted wealth to come clean by paying 30 percent tax plus a penalty of 7.5 percent and a similar percentage of surcharge.