News

Besides Budget, markets will be driven by global events and the outcome of Assembly elections As the Narendra Modi-led government prepares to present the   Budget 2017   on February 01 after the big bang demonetisation move in November, the markets have clawed back from their recent December lows with the S&P BSE Sensex rallying nearly six per cent to over 27,200 levels. The rally in the mid-and small-cap indices has been sharper with the S&P BSE Mid-cap and the S&P BSE Small-cap indices surging around 11 per cent each during this period. Also Read:   Arun Jaitley likely to take the stimulus route to economic growth So what does this Budget hold in store, and what are the markets expecting from the Finance Minister this time around? The markets, analysts say, are primed with the expectation that the Budget will be focussed primarily on reinforcing the 'black money crackdown' theme with a secondary focus on delivering token payments to the poor as...

Ahead of the Union   Budget 2017 , a top body of broadcasters has written to the government seeking "Infrastructure Status" for the broadcasting industry. According to sources, the Indian Broadcasting Foundation(IBF), a body which has leading broadcasters as its members, has in a representation to the Finance Ministry said the Indian broadcasting industry is a mass employment creator which as of date has employed nearly 10 million people across the value chain. Given its large size and revenue projections, the sector is expected to contribute Rs 30,000 crore to Rs 35,000 crore in the form of direct and indirect taxes by 2020. The broadcasters have argued that in the present era of convergence of telecommunication, information technology (IT) and broadcasting technology, the distinction between telecom services and broadcasting services has got blurred. They have also mentioned that by way of a notification January 9, 2004 issued by the Ministry of Communication an...

A week after demonetisation,   gold   worth a billion dollar was imported. But, in the past couple of days, with the I-T department issuing 600 notices to jewellers, and also asking banks to report deposits, the thrifty “business” of transferring old cur Seeking to quell apprehensions based on rumours, the government said there is no limit on legitimate holding of   gold and jewellery , including from inheritance, and there would be no seizure of bullion up to a certain limit even if that does not seem to match income. "There is no limit on holding of gold jewellery or ornaments by anybody provided it is acquired from explained sources of income including inheritance," the Finance Ministry said in a statement. As rumours of government crack down on gold holdings raged, the ministry first came out with a statement saying the steeper up to 85 per cent tax in the new Taxation Laws Amendment bill will not apply to legitimate gold holding, including those acquired th...