News

The Union Cabinet today approved auctioning of airwaves that could add lakhs of crores to the government’s coffers. Finance Minister Arun Jaitley termed the upcoming auction as the “biggest-ever” in India’s history. The mega-spectrum auction is estimated to fetch about Rs 5.66 lakh crore to the exchequer, which is more than double of telecom services industry gross revenue of Rs ... Read More »

Finance Minister Arun Jaitley along with Telecom Minister Ravi Shankar Prasad is briefing the media after a Cabinet meeting earlier in the day. Here are the key highlights: Biggest-ever spectrum auction cleared by Cabinet, says Finance Minister Arun Jaitley TRAI will meet again on spectrum usage charge: Arun Jaitley 2300 Mhz spectrum auction in seven bands Auction to end shortage ... Read More »

Finance Minister Arun Jaitley says government has full confidence in Chief Economic Adviser Arvind Subramanian. (File photo) NEW DELHI:  HIGHLIGHTS Arvind Subramanian, Chief Economic Advisor, discussed as new RBI chief BJP’s Subramanaian Swamy tweets “Sack him!” Swamy led shrill campaign against RBI Chief Rajan, who has refused Term 2 BJP leader Subramanian Swamy has a new target: Chief Economic Adviser ... Read More »

Government doctors have met Finance Minister Arun Jaitley and demanded revision of the 7th Pay Commission recommendations. NEW DELHI:  Government doctors have met Finance Minister Arun Jaitley and demanded revision of the 7th Pay Commission recommendations. Representatives of the Federation of Resident Doctors Association (FORDA) and JACSDO (Joint Action Council of Service Doctor Organisation) met Mr Jaitley on Monday and ... Read More »

New Delhi: In a 15-year-old matter, the Securities and Exchange Board of India (Sebi) on Tuesday barred Tata Finance Ltd’s former managing director D S Pendse and three other entities from the capital market for manipulations at the time of the firm’s right issue in 2001. The watchdog has imposed a three-year ban on Mr Pendse and A L Shilotri, ... Read More »

New Delhi: With the first month nearing completion, the Finance Ministry will hold a high-level meeting to review the ambitious one-time compliance window that has been announced by the government to declare domestic black money. The review meeting, scheduled later this week, will be chaired by Revenue Secretary Hasmukh Adhia with Central Board of Direct Taxes (CBDT) members and they ... Read More »

New Delhi: The Finance Ministry is planning to launch a new Exchange Traded Fund (ETF) as an additional mechanism to monetise government’s stake in listed PSUs and other companies. The ETF may include government stake in companies held through Specified Undertaking of Unit Trust of India (SUUTI) as well as those in which it still has some holding. The Department ... Read More »

New Delhi: The Finance Ministry on Monday said small businesses with a total turnover of up to Rs 2 crore will not be required to get their accounts audited if they opt for the presumptive taxation scheme. “The higher threshold (up to Rs 2 crore) for non-audit of accounts has been given only to assessees opting for presumptive taxation scheme ... Read More »

Punjab Congress chief Amarinder Singh accused Arun Jaitley of trying to “avenge his humiliating defeat” in the 2014 Lok Sabha polls. (File photo) CHANDIGARH:  A day after Union Finance Minister Arun Jaitley attacked him over his family’s alleged foreign accounts, Punjab Congress chief Amarinder Singh today hit back at him, accusing him of trying to “avenge his humiliating defeat” in ... Read More »

New Delhi: The Finance Ministry on Monday said subscribers of the Public Provident Fund (PPF) can prematurely close the deposit scheme after completing five years for reasons such as higher education or expenditure towards medical treatment. “A subscriber shall be allowed premature closure of his account or account of a minor of whom he is the guardian on ground that ... Read More »