Archive for September, 2014

Task Forces as Recommended by FSLRC Constituted for Laying the Road Map for Setting-up of Resolution Corporation (RC), Financial Data Management Centre (FDMC), Financial Sector Appellate Tribunal (FSAT) and Public Debt Management Agency (PDMA)

Comments Off | 09-30-2014

The Financial Sector Legislative Reforms Commission (FSLRC) set-up in March 2011 for rewriting the financial sector laws to bring them in harmony with the current requirements, submitted its Report to the Government on March 22, 2013. The Commission has inter alia recommended a non-sectoral, principle based, legislative architecture for the financial sector by restructuring/upgrading existing

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Global crude oil price of Indian Basket was US$ 95.26 per bbl on 29.09.2014

Comments Off | 09-30-2014

The international crude oil price of Indian Basket as computed/published today by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas was US$ 95.26 per barrel (bbl) on 29.09.2014. This was higher than the price of US$ 94.78 per bbl on previous publishing day of 26.09.2014.
In rupee terms, the price

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Finance Secretary Exuberates Confidence on Achieving A Growth Rate in the Range of 5.7 to 5.9 Per Cent During the Current Fiscal Year 2014-15; Investment Data in September 2014 Shows an Uptick with A Growth Of 9.8 Per Cent as Against 6.7 Per Cent Growth

Comments Off | 09-29-2014

Dr Arvind Mayaram, Finance Secretary, Government of India exuberated confidence on achieving a growth rate in the range of 5.7 to 5.9 per cent during the current fiscal year 2014-15. Dr Mayaram was speaking at a function organized by the Madras Chamber of Commerce & Industry to celebrate their Chamber Day at Chennai today. He

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Achievements and Initiatives of the Ministry of Water Resources, River Development and Ganga Rejuvenation

Comments Off | 09-26-2014

Ministry of Water Resources, River Development and Ganga Rejuvenation works with three-pronged objectives to ensure effective use of Water Resources, inclusiveness and sustainability. So far the following interventions have been made:
Out of a total irrigable area of 140 M.Ha., irrigation potential of 112.8 M.Ha. has been created. Out of this 88 M.Ha. is currently

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Due Date for filing of return of Income for Assessment Year 2014-15 Extended from 30th September, 2014 to 30th November, 2014 in Specified Cases

Comments Off | 09-26-2014

As per the provisions of the Income-tax Act, 1961 (‘the Act’), for an assessee, who is required to obtain Tax Audit Report (TAR) under section 44AB of the Act, the due date for furnishing his return of income is 30th September of the Assessment Year.
The Central Board of Direct Taxes (‘the Board’) vide order dated

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Government to spend about 2 lakh Crore rupees for Swachh Bharat Mission More than 11 crore toilets will be built in 5 years

Comments Off | 09-25-2014

The Union Minister of Rural Development and Drinking Water and Sanitation Shri Nitin Gadkari said that Swachh Bharat Mission will be converted into a mass movement to make India an open defecation free country in Five Years. Addressing a Joint Press conference with the Urban Development Minister Shri M. Venkaiah Naidu here this afternoon, Shri

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Shri Narendra Singh Tomar earmarks Rs 100 crore for Swachh Vidyalaya Campaign Funds to be sourced from PSUs under the Ministry of Steel

Comments Off | 09-24-2014

In response to the Prime Minister’s mission to tackle sanitation and waste management in the country, the Union Minister of Steel, Mines, Labour and Employment, Shri Narendra Singh Tomar today earmarked Rs 100 crore for the Swachh Vidyalaya Campaign, constituted by the CSR fund of PSUs under the Ministry of Steel, namely, SAIL, NMDC, RINL,

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Ideas, Innovation, Investments and Implementation key to ‘Reinventing the India Story’ says Shri M.Venkaiah Naidu

Comments Off | 09-23-2014

Stressing on the need for ‘Reinventing the India Story’, the Minister of Urban Development Shri M. Venkaiah Naidu today said that ‘business as usual’ approach should make way for radical re-orientation on the part of all stakeholders to enable the country retrieve its past glory. He was addressing the 41st Annual Convocation of All India

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Text of the Intervention Made by the Minister of State of Finance in the G20 Finance Minister’s Meeting on International Tax; Calls for Implementation of the New Global Standards on Automatic Exchange of Information with A Common Timeline and with Coverage of as Many Countries as Possible

Comments Off | 09-23-2014

Following is the text of the intervention made by Smt. Nirmala Sitharaman, Minister of State for Finance at the G-20 Finance Ministers’ Meeting on International Tax in Cairns, Australia yesterday:
“Dear Colleagues
The leadership and guidance provided by G20 since 2009 has led to significant improvements in exchange of information on “request basis”. However, its

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Global crude oil price of Indian Basket was US$ 95.35 per bbl on 19.09.2014

Comments Off | 09-23-2014

The international crude oil price of Indian Basket as computed/published today by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas was US$ 95.35 per barrel (bbl) on 19.09.2014. This was lower than the price of US$ 96.17 per bbl on previous publishing day of 18.09.2014.
In rupee terms, the price

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