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India, World Bank sign USD 35 million agreement to enhance efficiency in tax administration in Assam

9 hrs ago
Important for Exam: 0 people agreed

The objective of the project is to improve predictability and transparency in budget execution and efficiency in tax administration in Assam.

India's policy panel proposes to break up of Coal India into 7 firms

16 hrs ago
Important for Exam: 1 people agreed

India should split the seven units of state-controlled Coal India Ltd into independent companies to make it more competitive, the government's policy think-tank said on Tuesday in a draft of a new energy policy.

18 sections, 2 rules for GST notified

Jun 21, 2017
Important for Exam: 6 people agreed

The new tax reform is a step is for the betterment of the economy will help in unifying more than a dozen of central and state levies into one.

CBDT notifies Rule 10CB for Secondary Adjustments under Section 92CE of IT Act, 1961

Jun 20, 2017
Important for Exam: 1 people agreed

The provision also prescribe the rate of interest for computing the income in case of failure to repatriate the excess money within the prescribed time limit.

Black money: Switzerland ratifies automatic exchange of information with India

Jun 18, 2017
Important for Exam: 2 people agreed

Switzerland has ratified the automatic exchange of financial account information with India and 40 other jurisdictions to facilitate immediate sharing of details of suspected black money.

Union Cabinet approves proposal to introduce Financial Resolution and Deposit Insurance Bill 2017

Jun 15, 2017
Important for Exam: 6 people agreed

The Bill aims at providing a comprehensive resolution framework for specified financial sector entities to deal with bankruptcy situation in banks, insurance companies and financial sector entities.

RBI identifies Accounts for Reference by Banks under Insolvency and Bankruptcy Code

Jun 14, 2017
Important for Exam: 0 people agreed

The IAC, in the meeting, agreed to focus on large stressed accounts at this stage and accordingly took up for consideration the accounts, which were classified partly or wholly as non-performing from amongst the top 500 exposures in the banking system.

EU to release remaining 25 mn euros of its grant for primary, secondary education in India

Jun 14, 2017
Important for Exam: 1 people agreed

Contribution from EU has helped in setting up and improving schools and facilities across India. It also helped in bridging gender and social gaps.

RBI issues new batch of Rs 500 notes with inset letter A

Jun 14, 2017
Important for Exam: 0 people agreed

The RBI also made it clear that the old notes, which were introduced after Prime Narendra Modi’s demonetisation drive in November 2016, will continue to remain the legal tender.

GST Council constitutes 18 Sectoral Groups for smooth implementation of GST

Jun 12, 2017
Important for Exam: 2 people agreed

Concerned industry groups and associations or even individual industry representatives can approach the respective Sectoral Group officers with their problems related to GST implementation.

GST Council reduces GST Rates of 66 items

Jun 12, 2017
Important for Exam: 10 people agreed

The GST rates for telecom services, marbles, granite and spectacles were retained.

RBI releases second Bi-monthly Monetary Policy Statement 2017-18

Jun 8, 2017
Important for Exam: 5 people agreed

RBI has cut the Statutory Liquidity Ratio (SLR) by 50 basis points to 20 per cent.

Ministries to decide on FDI proposals within 60 days: Finance Ministry

Jun 7, 2017
Important for Exam: 0 people agreed

Finance ministry in an official memorandum said subsequent to the abolition of the FIPB, concerned administrative ministries have been allotted the work of granting approval for foreign investment in the specific sector.

India to provide $318 million line of credit to Sri Lanka

Jun 7, 2017
Important for Exam: 1 people agreed

India signed an agreement with Sri Lanka to provide fresh assistance of USD 318 million as a credit line for the development of the nation’s railway sector.

India signs loan agreement with World Bank for Assam Citizen Centric Service Delivery project

Jun 6, 2017
Important for Exam: 1 people agreed

The total estimated cost of the Assam Citizen Centric Service Delivery project is USD 49 million.

India, World Bank signs Loan Agreement for HP Public Financial Management Capacity Building

Jun 1, 2017
Important for Exam: 4 people agreed

India and World Bank signed an agreement for IBRD Credit of USD 36 million for Himachal Pradesh Public Financial Management Capacity Building Program.

India loses fastest growing economy tag after sharp growth slowdown

Jun 1, 2017
Important for Exam: 6 people agreed

The 2016/17 GDP growth registered was 7.1 per cent, which was lower than 8 per cent, which was achieved in the previous FY of 2015-17.

Link Aadhaar Card with PAN using SMS: IT Department

May 31, 2017
Important for Exam: 4 people agreed

The linking of Aadhaar number and PAN is a means to seamlessly avail income tax facilities online.

Re. 1 denomination currency notes with Rupee symbol and the inset letter ‘L’ to hit market soon

May 31, 2017
Important for Exam: 5 people agreed

The central bank said that the note will bear the signature of Shaktikanta Das, Secretary in the Ministry of Finance. Rest other currency notes bear the signature of the RBI Governor.

Government tweaked Startup definition, benefits to now flow for 7 years

May 26, 2017
Important for Exam: 1 people agreed

DIPP, the nodal body for Start-up India, said that an entity shall now be considered a start-up up to seven years from the date of its incorporation/registration.

Entertainment, cable, DTH to attract lower taxes under GST

May 23, 2017
Important for Exam: 0 people agreed

Cable TV and Direct-To-Home (DTH) services will attract 18 per cent GST.

PM Narendra Modi calls for creation of Asia-Africa growth corridor for development of Africa

May 23, 2017
Important for Exam: 7 people agreed

The meeting focuses on achieving high 5s–strategy that includes which include agriculture, energy, industrialisation, regional connectivity and improved quality of life.

CBDT signs two Advance Pricing Agreements with Indian taxpayers

May 23, 2017
Important for Exam: 2 people agreed

With the signing of these two APAs, the number of APAs signed in Financial Year 2017-18 is now four.

Petroleum Minister co-chairs India OPEC Institutional Dialogue at Vienna

May 23, 2017
Important for Exam: 0 people agreed

Pradhan said that OPEC should work towards responsible pricing, which is important for India for socio-economic and developmental reasons.

GST Council fixes 4-tier tax slab for services

May 22, 2017
Important for Exam: 2 people agreed

Education, Healthcare and Third Tier Railway Travel will be exempted from GST.

GST Council announces GST Rates of 1211 items

May 19, 2017
Important for Exam: 3 people agreed

GST Rates of 1211 items were finalised by the GST council with 81 per cent of them facing a levy of up to 18 per cent.

Anti-dumping duty imposed on imports of chemical, aluminium foil from China

May 19, 2017
Important for Exam: 1 people agreed

Anti-duty imposed on aluminium foil is up to $1.63 per and up to $8.71 per kg duty was slapped on imports of amoxicillin, used in pharmaceuticals.

CCEA approves electrified doubling line between Phephana-Indara and Mau-Shahganj in UP

May 18, 2017
Important for Exam: 2 people agreed

The estimated cost of the Project will be Rs 1028.95 crore with expected completion cost of Rs 1190.98 crore.

CCEA approves new Coal Linkage Policy 2017

May 18, 2017
Important for Exam: 2 people agreed

The coal allocation of linkages in future will be transparent and bidding based, barring some exceptions as per Tariff Policy.

CCEA approves restructuring plan for Hindustan Organic Chemicals Ltd

May 18, 2017
Important for Exam: 0 people agreed

The restructuring plan involves closing down the operations of all the non-viable plants at Rasayani unit of HOCL except Di-Nitrogen Tetroxide (N2O4) plant which is to be transferred to ISRO.

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