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NEW DELHI, June 3 (Reuters) - Prime Minister Narendra Modi's high-profile attendance at a global airlines conference this week underscores how much India is banking on a boom in aviation to support wider development goals, but headwinds to its ambitions are gathering force. Undeterred by the uncertainty gripping the aviation sector globally due to trade tensions and shaky consumer confidence, India's biggest airlines are ploughing ahead with orders for new planes, following record deals two yea ...Read More >
India and Kyrgyzstan have reinforced their economic ties with the enforcement of a new Bilateral Investment Treaty (BIT), effective June 5, 2025. Replacing the 2000 agreement, the BIT aims to protect cross-border investments and create a secure environment for investors. It balances investor rights with sovereign regulatory powers, promoting sustainable development and transparent investment.Finance Minister Nirmala Sitharaman and Kyrgyz Foreign Affairs Minister Zheenbek Kulubaev Moldokanovich o ...Read More >
New Delhi [India], June 5 (ANI): The new Bilateral Investment Treaty (BIT) between India and the Kyrgyz Republic comes into force on Thursday, marking a significant milestone in their bilateral economic relations. Union Minister for Finance and Corporate Affairs Nirmala Sitharaman and Minister of Foreign Affairs of the Kyrgyz Republic, Zheenbek Kulubaev Moldokanovich signed the Protocol and exchanged Instrument of Ratification of the Bilateral Investment Treaty (BIT) in New Delhi. According to ...Read More >
New Delhi: Finance Minister Nirmala Sitharaman and the Kyrgyz Republic's Minister of Foreign Affairs Zheenbek Kulubaev Moldokanovich signed the protocol and exchanged the instrument of ratification of the India-Kyrgyzstan Bilateral Investment Treaty (BIT) here on Thursday. The Bilateral Investment Treaty (BIT) signed on June 14, 2019, in Bishkek, between the Government of India and the Government of the Kyrgyz Republic, enters into force with effect from 5th June 2025. This new BIT replaces the ...Read More >
New Delhi, June 5 (IANS) Finance Minister Nirmala Sitharaman and the Kyrgyz Republic's Minister of Foreign Affairs Zheenbek Kulubaev Moldokanovich signed the protocol and exchanged the instrument of ratification of the India-Kyrgyzstan Bilateral Investment Treaty (BIT) here on Thursday. The Bilateral Investment Treaty (BIT) signed on June 14, 2019, in Bishkek, between the Government of India and the Government of the Kyrgyz Republic, enters into force with effect from 5th June 2025. This new BI ...Read More >
New Delhi, Jun 5 (PTI) Fintech firm BimaPay Finsure on Thursday said it has entered into corporate insurance financing and aims for Rs 20 crore in premiums in 2025-26. Launching the pilot phase with insurance partners, BimaPay said the initiative will allow businesses to pay premiums in easy equated monthly instalments (EMIs) instead of bearing the burden of full upfront costs. Also Read | Who Is Pinaki Misra? From Age to Family Background and Net Worth, Here's All About BJD Leader With Whom M ...Read More >
New Delhi, Jun 5 (PTI) Finance Minister Nirmala Sitharaman and Kyrgyz Foreign Affairs Minister Zheenbek Kulubaev Moldokanovich on Thursday signed a protocol for enforcement of a bilateral investment treaty to foster bilateral economic relations and encourage cross-border investments between the two nations. The Bilateral Investment Treaty (BIT) signed on June 14, 2019, in Bishkek, between the Government of India and the Government of the Kyrgyz Republic, enters into force, with effect from June ...Read More >
New Delhi, Jun 5 (PTI) Finance Minister Nirmala Sitharaman and Kyrgyz Foreign Affairs Minister Zheenbek Kulubaev Moldokanovich on Thursday signed a protocol for enforcement of a bilateral investment treaty to foster bilateral economic relations and encourage cross-border investments between the two nations. The Bilateral Investment Treaty (BIT) signed on June 14, 2019, in Bishkek, between the Government of India and the Government of the Kyrgyz Republic, enters into force, with effect from June ...Read More >
NEW DELHI, June 5 (Reuters) - Indian and U.S. are holding high-level talks this week, aiming to finalise tariff cuts in sectors such as farm and automobiles as part of an interim deal, two government sources said, with an announcement likely later this month. A U.S. delegation led by senior officials from the Office of the United States Trade Representative (USTR) began closed-door, two-day discussions in New Delhi on Thursday with Indian trade officials headed by chief negotiator Rajesh Agrawa ...Read More >
New Delhi [India], January 8 (ANI): The upcoming union budget 2025-26 should focus on giving personal tax relief to common taxpayers by raising the basic exemption limit in the new tax regime from Rs 3 lakhs to Rs5 lakhs and reducing tax rates, suggests global consulting and professional services firm Ernst & Young India (EY India). EY India also asks for deferring tax deduction at source (TDS) on PF interest rate (above 2.5 lakhs) until the withdrawal stage to reduce compliance burden. In the ...Read More >
For investors, this means that any profits made from selling cryptocurrencies will now be subject to capital gains tax.Source : Ewan Kennedy/Unsplash The Income Tax Appellate Tribunal (ITAT) in Jodhpur has provided much-needed clarity on the taxation of cryptocurrencies in India. The ruling recognises cryptocurrencies as capital assets, setting a framework for how profits from their sale are taxed, especially for transactions made before the Government introduced specific guidelines for Virtual ...Read More >
The Income Tax Department is reaching out to taxpayers and non-filers via SMS and email regarding mismatches between their reported transactions in the Annual Information Statement (AIS) and their Income Tax Returns (ITRs) for FY 2023-24 and 2021-22. This campaign encourages filing revised or belated ITRs and allows taxpayers to provide feedback on their AIS information. New Delhi: The income tax department on Tuesday said it is sending SMS and emails to taxpayers and non-filers where it has id ...Read More >
New Delhi [India], December 17 (ANI): In a significant move aimed at enhancing tax compliance and transparency, the Central Board of Direct Taxes (CBDT) has initiated an electronic campaign to address the discrepancies between the income and transactions reported in the Annual Information Statement (AIS) and those disclosed in Income Tax Returns (ITRs). According to the Ministry of Finance, this initiative targets the financial years 2023-24 and 2021-22, extending its scope to include individua ...Read More >
New Delhi, Dec 12 (SocialNews.XYZ) With EV sales reaching 1.2 million and achieving 5 per cent market penetration in FY24, the shift toward electric mobility is rapidly gaining momentum in India, a report said on Thursday, adding that right policy support and faster decision-making can help in fostering collaborations across stakeholders. EVs are emerging as a transformative solution, in line with India's COP26 commitment to transition to 100 per cent zero-emission vehicles by 2040. According ...Read More >
New Delhi, Dec 12 (VOICE) With EV sales reaching 1.2 million and achieving 5 per cent market penetration in FY24, the shift toward electric mobility is rapidly gaining momentum in India, a report said on Thursday, adding that right policy support and faster decision-making can help in fostering collaborations across stakeholders.EVs are emerging as a transformative solution, in line with India's COP26 commitment to transition to 100 per cent zero-emission vehicles by 2040. According to the KPMG ...Read More >
New Delhi [India], December 12 (ANI): A nearly 26 per cent rise in FDI to USD 42.1 billion during the first half of the current fiscal year 2024-25 helped India's gross foreign direct investment (FDI) inflows reach an impressive USD 1 trillion since the start of this century. India has achieved a remarkable milestone in its economic journey, with gross foreign direct investment (FDI) inflows reaching an impressive USD 1 trillion since April 2000. This landmark achievement was helped by a nearl ...Read More >
New Delhi, Dec 12 (VOICE) Total FDI inflows into India over the last decade (April 2014 to September 2024) amounted to $709.84 billion, accounting for 68.69 per cent of the overall FDI inflow in the past 24 years which crossed the $1 trillion mark, according to the Commerce and Industry Ministry's year-end review released on Thursday."This landmark achievement was bolstered by a nearly 26 per cent rise in FDI to $42.1 billion during the first half of the current fiscal year," the review stated. ...Read More >
NEW DELHI (AP) -- Sanjay Malhotra, a career civil servant, became India's new central bank governor on Wednesday as the country's economic growth slows and inflation is rising. The Reserve Bank of India said Malhotra, a former revenue secretary, will formulate India's monetary policy for the next three years. He succeeds Shaktikanta Das, who retired as RBI governor after an extended six-year term. GDP growth slowed to 5.4% in the quarter ending in September, the weakest level in seven quarter ...Read More >
New Delhi, Dec 3 (PTI) Finance Minister Nirmala Sitharaman will commence customary pre-Budget consultations with various stakeholders beginning Friday. As part of the process, she will meet eminent economists on December 6 to seek their inputs regarding upcoming Budget amid seven-quarter low GDP print of 5.4 per cent recorded in the second quarter of the current financial year. Also Read | Pune Shocker: Bike Rider Dragged for 2 Kilometres on Bonnet of Car in Pimpri Chinchwad; 3 Booked. It wil ...Read More >
New Delhi, Dec 3 (PTI) Finance Minister Nirmala Sitharaman will commence customary pre-Budget consultations with various stakeholders beginning Friday. As part of the process, she will meet eminent economists on December 6 to seek their inputs regarding upcoming Budget amid seven-quarter low GDP print of 5.4 per cent recorded in the second quarter of the current financial year. It will be followed by a meeting with farmer associations and agriculture economists and stakeholders in MSME sector ...Read More >
The Ministry of Finance has abolished the windfall tax on crude oil, aviation turbine fuel (ATF), and exports of diesel and petrol products with immediate effect. The government has also scrapped the Road and Infrastructure Cess (RIC) on petrol and diesel exports. The decision was announced through the notifications numbered 29/2024 and 30/2024 released by the Centre on Monday which were laid in the Parliament as well. This move follows an evaluation by the government with reports suggesting th ...Read More >
Despite its vast potential, the full capabilities of GST data remain largely unrealised. While aggregate data provides a broad overview of tax performance and health of the Indian economy, disaggregated sector-wise information is crucial for evidence-based policymaking. A closer look at the performance of GST revenue collection raises several questions. First, though the growth of GST revenue collection improved in the last seven years (13 per cent) compared to the pre-GST period 2012-17 (11.8 ...Read More >
New Delhi: The Centre has decided to scrap the windfall tax, a levy imposed on local production of crude oil and exports of petrol, diesel and jet fuel, at a time of subdued oil prices. A decision to this effect has been taken at the top level in the government, and the finance ministry may shortly issue an order, two people familiar with the development said. Windfall tax was imposed in 2022, as a surge in oil prices to multi-year highs in the wake of the Russia-Ukraine war allowed oil and ga ...Read More >
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