(liveMint) The government is considering a new and potentially more attractive equity savings scheme to replace one that was scrapped this year following a tepid investor response. The new scheme will offer more flexibility and greater limits than the Rajiv Gandhi Equity Savings Scheme (RGESS), said two people with direct knowledge of the development. For one, the government is looking to enhance the investment limit eligible for tax benefits under this scheme to Rs2 lakh, four times the RGESS limit. Secondly, the stringent entry norms prescribed by RGESS may be done away with, these people said on condition of anonymity.
Author: Aruna Sharma
(AU) राष्ट्रीय जनता दल के अध्यक्ष लालू प्रसाद यादव के बेटे तेजप्रताप यादव मिट्टी घोटाले में फंस गए हैं। विपक्ष के नेता सुशील मोदी ने एक संवादाता सम्मेलन करके कहा कि लालू के दोनों बेटों और बेटी चंदा यादव पटना के सुगना मोड़ पर बन रहे शॉपिंग मॉल के लिए जमीन से निकाली गई मिट्टी को पटना चिड़ियाघर को बेचा गया। मिट्टी की कीमत 90 लाख रुपये रखी गई, जिसका पेमेंट भी चिड़ियाघर ने कंपनी को किया है। मिट्टी का नहीं दे पाएं सबूत हालांकि सुशील मोदी इस बात का सबूत नहीं दे पाए, जिससे इस बात का पता चला…
(LiveMint) The board of the Reserve Bank of India (RBI) has cleared a proposal to introduce banknotes of Rs200 denomination, two people aware of the development said. The decision was taken at the RBI board meeting in March, these people said. They didn’t want to be identified as they aren’t authorized to speak to the media. The process of printing the new Rs200 notes is likely to begin after June, once the government officially approves this new denomination, said one of the two people cited earlier.An RBI spokesperson declined to comment.
(LiveMint) Pradhan Mantri Ujjwala Yojana (PMUY), the welfare scheme brought by the National Democratic Alliance (NDA) government akin to the previous regime’s Mahatma Gandhi National Rural Employment Guarantee Scheme, promising energy security to the poor, has covered more than 2 crore households within 11 months of launch. The scheme, which offers liquefied petroleum gas (LPG) connections to women below poverty line without upfront charges, exceeded its target for the 2016-17 fiscal of 1.5 crore connections in eight months since its launch last May and is gathering pace as access to clean energy has been set as a priority in the…
(HT) The Uttar Pradesh government led by Yogi Adityanath on Tuesday announced Rs 30,729-crore loan waiver for small and marginal farmers in the state, minister Siddharth Nath Singh said.Focusing on farmers’ welfare, the government said it will set up 5,000 wheat procurement centres in UP, Shrikant Sharma, another minister in the Adityanath cabinet, said after the newly elected government’s first cabinet meeting. The government will buy 80 lakh metric tonnes of wheat from farmers, Sharma said, adding 40 lakh metric tonnes will be bought in the first phase. A three-minister committee too was formed to decide how to help potato farmers…
(NDTV) Yogi Adityanath will hold his first cabinet meeting on Tuesday evening, 15 days after he took oath as Uttar Pradesh Chief Minister. A loan waiver for farmers is expected to headline the meeting, which, ministers said, would focus on election promises made by the BJP. The party won a landslide mandate in UP last month. Since he has taken over, Yogi Adityanath has made a slew of big announcements, including closing down illegal slaughterhouses, and has met his ministers informally several times, but had so far not called a cabinet meeting. It is unusual for a new chief minister…
(FE) The overseas arm of India’s Oil and Natural Gas Corp has submitted a revised plan to develop the giant Farzad B gas block in Iran, including a commitment to spend more than $3 billion, a senior executive said on Tuesday. ONGC Videsh expects to produce between 1 billion and 1.6 billion cubic feet per day of gas in five years from the start of development of the block, N. K. Verma, the company’s managing director told Reuters in Mumbai on Tuesday. India is the second-largest buyer of Iranian crude, and was among the few countries to continue trade with…
(PTI) The government has exceeded the tax collection estimates for 2016-17 fiscal at Rs 17.10 lakh crore. The revised estimates (RE) provided in Budget on February 1 had projected tax collections of Rs 16.97 lakh crore. The Finance Ministry in a statement said that tax collection of Rs 17.10 lakh crore is a growth of around 18 per cent compared to last year. Revenue Secretary Hasmukh Adhia said, “Total net tax revenue grows at 18 per cent to Rs 17.10 lakh crore, highest in last 6 years.” While direct tax mop up during the April-March period grew 14.2 per cent at…
(PTI) British Finance Minister Philip Hammond will hold discussions with his Indian counterpart Arun Jaitley today to promote trade and investments between the two countries. Hammond is visiting India to participate in the UK-India Economic and Financial Dialogue. According to the British High Commission, the ninth UK-India Economic and Financial Dialogue (EFD) is hosted by the Indian Finance Minister. The high-level talks are aimed at deepening the UK’s economic and trading relationship with India and showcasing Britain as one of the best places in the world to do business, it said. It added that the EFD will involve a series of events…
(ET) State-run oil companies enrolled a record three crore cooking gas consumers in 2016-17, about twothirds of them from poor families, as part of the government drive to shut hazardous smoke from the kitchens of those who had not yet had access to clean cooking fuel. The government has mandated oil companies to add 10 crore new cooking gas customers between April 2016 and March 2019. Half of the new connections have to go to poor households under the government’s Ujjwala Yojana.Yojana. “When Modi ji took over as prime minister, the country had 14 crore active LPG consumers, which has…