This is the highest ever AUM registered by the industry that has seen AUM’s value rise by Rs 3,76,956 crore or 46 per cent since the beginning of this financial year.
Jet had planned to launch cargo services earlier as well but the plan had got shelved due to adverse business environment.
The mine, which was earlier allotted to Abhijeet Infrastructure Pvt Ltd has extractable reserves of 12.67 million tonnes.
The maximum fight is for the 900 MHz band, where Bharti Airtel, Vodafone, Idea and Reliance Communications are locked in a do-or-die battle.
The Reserve Bank of India had on Wednesday cut the repo rate by 25 basis points, following up on a similar cut in January this year.
Till january, the nano has contributed only 12.7% to tata motors’ overall passenger vehicle sales.
Apart from Mahindra & Mahindra, the Hero Group too had reportedly shown interest in acquiring the company.
Telecom minister Ravi Shankar Prasad had earlier said he’s looking at mopping up around Rs 1 lakh crore from the auctions.
Out of 45 banks in the country, only three banks had cut lending rates in January when the RBI had, in a surprise move, slashed repo rate by 25 basis points.
Revenue secretary Shaktikanta Das too welcomed the lower rates and said it would help business as well as prompt people to take housing and consumer loans that in turn would boost demand and growth.
Oil prices have firmed up in recent weeks, and significant strengthening will alter the inflation outlook.
Special steel producer Usha Martin won the bids for Brinda and Sasai blocks at Rs 1,804 a tonne.
At present, companies can open NPS accounts for their workers or individuals can open independent accounts under the scheme, but these contributions are over and above the mandatory deductions for the EPFO.
Most of the spectrum put up for auction is presently held by Airtel, Vodafone, Idea Cellular and Reliance Telecom.
The transaction, subject to requisite regulatory and other approvals, is expected to close by August 2015.
The Nachiket Mor Committee has recommended that Reserve Bank should constitute a working group involving the various stake holders.
Sensex inches towards 30,000 mark, closes at 29,593.7.
The proposed law on black money will allow the tax authorities to attach domestic property of equal value.
According to investigations so far, Anand Rathi Commodities had a trading volume of Rs 19,130.2 crore in NSEL.
Approvals are in place for a number of stake sales of smaller public sector companies, and for larger companies in the metals space.
Market experts point that the muted response has been on account of their expectations for actions that resulted in short-term benefits.
The Union Budget had proposed to raise funds for railways, roads and irrigation sectors by issuing tax-free infrastructure bonds.
The proposed Indian Financial Code by the FSLRC had suggested reviewing the roles of the various financial sector regulators.
‘FRBM Act should not be amended through the Finance Bill’.
‘In this Budget revenue expenditures are coming down by 0.6%’.
The target for lending to the agriculture sector has been retained at 18 per cent of ANBC.
The Budget is important for economic reasons that allows for a decent improvement in capital expenditures.
Higher capacity utilisation, lower commodity prices, improved working capital cycle, lower interest and tax rates will accelerate earnings growth over next 8 quarters.
A report on Budget implementation reveals that 17 Rs 100-cr projects are still to be rolled out.
To curb the formation of shell companies, which are located abroad but controlled from India, to evade taxes, the government has amended the income tax act by introducing the concept of ‘place of effective management’. Following the amendment, all such companies would be taxable in India even if they are incorporated abroad but their key […]
Section 11AC of the Excise Act has been amended for similar cases and the taxpayer can now pay the duty along with a penalty of 10 per cent of the duty.
It is also silent on tax provisions for new asset classes in the scheme.
At present, on the back of exemptions & deductions, actual tax rate is 23.22%.
By choosing to keep the fiscal deficit at 3.9 per cent and phasing it to 3 per cent over three years, the FM has kept room for greater public spending on investment.
This means companies like TripAdvisor, who act as aggregators, will have to pay the service tax, Mishra explained.
Petrol price had been cut on ten occasions since August 2014 and diesel six times since October 2014.