A 12-member panel of senior officials has been created to accomplish the task of restructuring I-T dept.
However, Arun Jaitley said, various RBI schemes for settlements and restructuring did not bring much result.
In a step aimed at providing legal backing for seeding of Aadhaar with mobile numbers and bank accounts as an optional KYC, the Union Cabinet, headed by Prime Minister Narendra Modi, has approved amendments to the Telegraph Act and the Prevention of Money Laundering Act, according to PTI. The move comes following the Supreme Court's judgement in September imposing restrictions on the mandatory use of Aadhaar by private companies.
PM Modi indicated that the 28 per cent slab of GST would only be restricted to a few select items.
Though important voices have usually supported central banks’ independence, some have also questioned it from time to time.
S&P has an investment grade BBB rating for India with a stable outlook.
Authentication by Aadhaar through QR codes and other means will likely be available in a few weeks.
Of RBI’s reserves of Rs 9.7 lakh crore, the contingency fund (which cannot be touched) stands at Rs 2.3 lakh crore while revaluation reserve (or unrealised gain) is close to Rs 7 lakh crore.
The policy is likely to propose restrictions for differential & predatory pricing strategies such as deep discounts.
The Tamil Nadu AIIMS would come up at Madurai at a cost of Rs 1,264 crore, while the Telangana's one would be built at Bibinagar at a cost of Rs 1,028 crore, an official statement said.
DIPP Secretary Ramesh Abhishek said that the Centre and the states need to work together to provide necessary support to industry to enhance their competitiveness.
The ministry, which is implementing the Companies Act, has sought comments from the public on the proposed changes to the rules.
EEPC Chairman pointed out that India's overall merchandise exports remained static, logging in less than one per cent growth in November this year.
Sanitary ware firm HSIL's CMD Sandip Somany has been elected as the new President of Ficci.
Rating downgrade would make borrowing costlier for RBI and have implication for the entire economy, Rajan said.
Raghuram Rajan said he has seen studies which reaffirm that banning of high value currency notes in late 2016 impacted India's growth significantly.