The Ministry of Animal Husbandry, Dairying and Fisheries recently told the Parliament that as NDDB Dairy Services was set up through a Rs 200 crore contribution from NDDB, it has advised NDDB to “extend the provisions of the RTI Act, 2005 to its subsidiary companies including NDDB Dairy Services.”
Budget incentives, a mission plan, and a 2030 target show the govt’s intention to get India’s sluggish electric vehicle market going. However, from infrastructure and price bar, to policy confusion and a worried market, there is a long way to go. The Indian Express on the many speed breakers
The Finance Ministry said it would borrow less this year, and pared its fiscal deficit target to 3.3 per cent of GDP, below the interim Budget estimate of 3.4 per cent of GDP. Besides, it also proposed to part-fund its deficit by tapping the international market.
Hyundai Kona SUV launched: S S Kim, MD and CEO, Hyundai India Limited, told The Indian Express that while the car will contribute in setting some electric vehicle culture in Indian market, lack of infrastructure is the biggest challenge.
With the Indian economy expected to grow only marginally higher this fiscal, the government has set a realistic target for Goods and Services Tax (GST) and anti-evasion measures will be taken to increase the efficiency of revenue collections, Revenue Secretary Ajay Bhushan Pandey said Saturday.
In its budget proposal 2019-20, the government proposed to amend section 139 of the Act so as to provide that a person shall be mandatorily required to file his return of income, if during the previous year has entered into certain high-value transactions as mentioned above.
By including companies with turnover of up to Rs 400 crore under 25 per cent corporate tax, Sitharaman said the government has covered additional 0.3 per cent of the India Inc into the lower corporate tax slab.
“Government is setting an enhanced target of Rs 1,05,000 crore of disinvestment receipts for the financial year 2019-20. The Government will undertake strategic sale of PSUs. The Government will also continue to do consolidation of PSUs in the non-financial space as well,” said Finance Minister Nirmala Sitharaman.
Budget 2019: A source told The Indian Express that the government recognises the need for private sector investment and job creation, and there is a likelihood that it may announce tax sops for capital investments.
Under pressure to meet repayment obligations in a scenario where fresh funding has dried, Kapil Wadhawan, chairman and MD, DHFL, told The Indian Express that the company is hopeful of concluding stake sale with strategic investor over the next couple of weeks.
In February 2017, the SEBI issued a circular increasing the additional exposure limit for debt oriented MFs into securities issued by HFCs from 10 per cent to 15 per in a bid to support funding for the affordable housing segment.
MFs and investors have started differentiating between wholesale and retail NBFCs. While earlier MFs had been investing heavily in commercial papers and NCD (non-convertible debentures) of all NBFCs, now they are doing pick-and-choose based on the kind of business model,” an industry source said.
PenBrook is a joint venture of Mumbai-based real estate company Peninsula Land and Canada-based investment firm Brookfield.
Sources said IL&FS Trust Company Ltd, (now called Vistra ITCL after it was acquired by Vistra in 2016), was the trustee company that kept these cheques.
Raising questions of propriety and conflict of interest, the internal probe report reveals that while IFIN extended questionable loans to Ansal Group companies, Bawa had financial links with Ansal Group companies through AAA Infosystem that was fully owned by Asha Kiran (his wife) and Akansha Bawa (his daughter).