Goods and Services Tax (GST) is being implemented from 1st April next year in order to reform the Tax system throughout the country and to prevent any indirect taxation.The central government is now fully engaged.
With the onset of the festive season, the central government has reduced the Import Tax on wheat, potato, and palm oil.This measure has been taken in order to contain their prices and enable distribute the required demand.
The Minister of State for Finance, Arjunram Meghwal, informed that the Goods and Services Tax (GST) will be certainly implemented from April 2017.The Minister informed this while attending a function in ASSOCHAM in New Delhi.
Forbes has released the list of the top 10 richest persons in India.The CEO of the Reliance Group Mukesh Ambanis assets are worth Rs. 15 Lakh Crores. He leads the list to be the richest person in India.
Railway budget merges with Union Budget
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Ending a 92-year-old tradition and easing the way for the government to cut populist subsidies and push through structural reforms, the Central Government will be merging the Railway Budget.
Crude oil imports in India this year has exceeded the quantity of import over the last 7 years.In order to meet the demand, the oil corporations have imported the additional crude oil.Last August, 1.88 Crore tons of crude oil.
The usage of luxury cars in India is on the rise.It is expected that the number of persons applying for loans for purchasing luxury cars will increase 4 times in the next 4 years.This information was shared by the Managing Director.
Soon access bank account at ration shops
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According to sources from the finance ministry, it is understood that the centre is in serious discussions about beginning banking services at 5.5 lakh ration shops present across the country.
The Reserve Bank of India has decided to instigate the customers to buy products using debit and credit cards. The Reserve Bank of India wants banks that are not installing card accepting machines.
ESIC and EPF for construction workers
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Union Minister of Labour and Employment Bandaru Dattatreya while speaking in the inaugural session of the National Conference on Labour mentioned that the central government is planning to extend benefits.
The Reserve Bank of India has asked the banks to report cyber attacks immediately. The harsh stance follows the reluctance of some banks to report such frauds in order to avoid negative publicity.
Spicejets new flight services
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Spicejet Ltd seems to be on an expansion spree as it has recently announced that it will introduce seven new connections from Kolkata. While 5 of them will commence in October, the remaining will begin in December.
ATM use shows clear decline
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Credit cards and debit cards are increasing day by day. The government is motivating people to use debit cards by opening numerous bank ATMs and white Label ATMs in the cities and rural areas.
Prime Minister Narendra Modi on May 1 launched Rs. 8,000 crore scheme to provide 5 crore free LPG connections to Below Poverty Line (BPL) families. The scheme is called Pradhan Mantri Ujjwala Yojana.
Voluntary disclosure of domestic black money under the Income Disclosure Scheme (IDS) comes to a close on September 30. With just 11 days to go before closure of the compliance window under the black money scheme.
On the special occasion of the 60th anniversary of Life Insurance Corporation, the Diamond Jubilee Year, a new policy Bhima Diamond is being introduced by LIC.The new policy was launched in the Madurai Region Managers.
The latest survey indicates that 34 percent of the Indian employees do not have the skill required for their jobs.This is 47 percent in China.Pnp Med Life has released the results of the survey regarding the employee welfare.
As incidences of malpractices on ATM usage are increasing, the banks have warned the ATM users and the customers who do financial transactions to make them aware about the malpractices.
Union Budget on January 31
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The Cabinet may next week take up the proposal for merging Railway Budget with the General Budget and also decide about tabling the budget on 31st January.As of now Railway Budget and general budget are being presented separately.
According to a new analysis by the Hay Group division India’s salary growth stood at 0.2 per cent in real terms since the great recession eight years back.During the period under review, China, Indonesia and Mexico had the largest real salary.
