Economics

The Finance Ministry on Wednesday said companies opting for the lower corporate tax rate of 22% will not be allowed to reduce their tax liability by claiming deductions towards additional depreciation and Minimum Alternative Tax (MAT) credits. The Central Board of Direct Taxes (CBDT), in a clarification, said companies will …

Bosch’s devices prevent car occupants, rescuers from suffering electric shock With a rising number of electric vehicles (EVs) expected to hit the road in the coming years, drivers are increasingly becoming uncertain about safety measures, especially as to what they should do in the event of a collision. Damaged cables …

‘Due to time constraints, auditors checked only incremental advances’ The suspended managing director of Punjab and Maharashtra Cooperative (PMC) Bank, Joy Thomas, has blamed the auditors for the mess at the bank, accusing them of only “superficially auditing” the books of the now crippled lender due to “time constraints.” In …

‘The desired rate of improvement under the programme is aspirational’ India is unlikely to meet targets set under the ambitious Poshan Abhiyan or National Nutrition Mission (NNM) for reduction in prevalence of stunting, underweight, low birth weight and anaemia in women and children by 2022 if there is no progress …

Customers can take any type of loan: Finance Minister In a bid to dispel the notion that only the banks have liquidity and it is not flowing to the NBFCs and the customers, Finance Minister Nirmala Sitharaman on Thursday announced that all scheduled banks would hold large gatherings in 400 …

Committee to meet in the first week of every month Aiming at ensuring speedy clearances for investments proposed in Tamil Nadu by foreign companies during his recent visit to the U.S., U.K. and Dubai, Chief Minister Edappadi K. Palaniswami has constituted a high-level committee for investment facilitation and single-window clearances. …

Fuel and power sector contracts Inflation at the wholesale level eased for the fourth consecutive month to a 25-month low of 1.08% in July, on lower inflation in the manufacturing and fuel sectors, according to official data released on Wednesday. Growth in the Wholesale Price Index slowed in July from …

Performance review set in motion The Finance Ministry has initiated a comprehensive consultative process with public sector banks (PSBs) to find out the reasons for the sharp rise in bad loans in the previous five years, apart from outlining national priorities with which these banks have to align themselves. Touted …

Retail inflation in July snapped a five-month accelerating trend to ease marginally to 3.15%, according to official data released on Tuesday.Growth in the Consumer Price Index slowed slightly in July from 3.18% in June. Within the index, food prices bucked an eight-month accelerating trend to ease to 2.33% in July, …

The Reserve Bank of India (RBI) on Tuesday issued the final framework for regulatory sandbox in order to enable innovations in the financial technology space.A regulatory sandbox usually refers to live testing of new products or services in a controlled/test regulatory environment for which regulators may permit certain regulatory relaxations …