No need to repeal LIC Act for divestment of stake

Chennai (IANS) There is no need to repeal the Life Insurance Corporation (LIC) Act 1956 and convert LIC into a company under the Companies Act, but the sovereign guarantee on the policy holders has outlived its utility and can be cancelled, said experts…

'Bona fide Indian workers abroad won't be affected by NRI rule tweak'

New Delhi (IANS) A day after Union Budget proposed to tweak the rule to prevent NRIs from evading tax in India, the Finance Ministry has clarified that bona fide workers in other countries including in the Middle East who are not liable to tax in…

Fuel prices further reduced post Budget

New Delhi (IANS) A day after the Budget, petrol and diesel prices were further cut on Sunday as international crude oil markets got hammered due to slump in demand because of coronavirus scare in China. The price of petrol was cut by 9 paise and that…

Sensex tumbles over 700 points as FM presents Budget

Mumbai (IANS) The Union Budget for financial year 2020-21 has so far been unable to bring cheer to the market and the equity indices slumped with the BSE Sensex falling over 700 points.

Around 1.30 p.m, the Sensex touched an intra-day low of…

AIIEA to protest against LIC disinvestment

Chennai (IANS) Opposing the government's decision to list Life Insurance Corporation of India (LIC) through an initial public offering (IPO), the All India Insurance Employees' Association (AIIEA) will first go on one hour walk-out strike…

GST collection up 8% yoy to Rs 1.10 lakh cr in Jan, signals recovery

New Delhi (IANS) In a much-needed shot in the arm for the government, GST collection increased 8.12 per cent year-on-year to Rs 1,10,828 crore in January 2020.

This is only the second time since roll-out of GST that the monthly revenues have…

Equity market trades flat ahead of Union Budget

Mumbai (IANS) As the markets opened on Saturday on the day of the Union Budget the key equity indices traded on a flat-to-positive note.

The tepid trade in the domestic indices can also be attributed to the decline in the US and Asian markets…

GST portal problems face flak from filers, date extended by 3 days

New Delhi (IANS) Following a barrage of embarrassing complaints about the GST portal not working and lakhs of returns pending, the Central Board of Indirect Taxes and Custorms (CBIC) has extended the dates for filing GSTR-9 and GSTR-9C forms for three…

Sensex shows link between exponential rise in GDP and wealth creation since 1991

New Delhi (IANS) The BSE Sensex captures the story of the correlation between liberalisation and wealth creation in the economy over the last 30 years.

The Economic Survey noted that there has been unprecedented wealth creation in the economy…

No evidence of misestimation of India's GDP growth: Eco Survey

New Delhi (IANS) Amid questions around data quality and claims by former CEA Arvind Subramanian that India's GDP may be overestimated, the Economic Survey 2020 has said that concerns of inflated growth rate are unfounded.

"The models that…