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Easier entry rules, competitive taxation key to boost manufacturing: FM Arun Jaitley

Source: Economic Times Blaming high cost of capital for slowdown in manufacturing sector, Finance Minister Arun Jaitley today pitched for removal of entry barriers and a globally competitive taxation regime to attract investments and boost growth. “We have to put house in order,” Jaitley said, to accelerate the growth, as the manufacturing sector was not growing as per its potential and radical steps might be required to revive growth in this key segment, although as results will not be visible…

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More Time for US Tax Pact

Source: Telegraph India India and some other countries have got one more month from the US to sign the Foreign Account Tax Compliance Act (Fatca), an agreement which seeks to facilitate the flow of financial information. “The US has given a month’s extension to India and some other counties to sign Fatca,” revenue secretary Shaktikanta Das said at an event here. The initial deadline set by the US for signing the Fatca was December 31. “The finance ministry will seek…

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Britain PM David Cameron accords “top priority” to India in 2014

Source: Economic Times India-UK ties touched a new high in 2014 with British Premier David Cameron according “top priority” to India in UK’s foreign policy and a series of high-level visits taking place to foster closer political and economic relations. Cameron held his first meeting with Prime Minister Narendra Modi in Australia ahead of the G20 Summit last month, strengthening the broad and deep ties that UK and India have. At their meeting, Cameron told Modi that “relations with India…

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Goods and Services Tax: How neutral is the revenue neutral rate?

Source: Financial Express The recommendation for an integrated goods and services tax (GST) in India may be traced back to the report of the Kelkar task force on the implementation of the Fiscal Responsibility and Budget Management Act, 2003, published in July 2004. The original proposition for an integrated GST was with the primary objective of controlling the budget deficit. It has since expanded to take within its fold the need to expand the tax base and also address the…

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Indian companies to comply with International Financial Reporting Standards

Source: Economic Times The Ministry of Corporate Affairs has accepted the recommendations of a panel on new accounting standards, which seek to align the reporting requirements of Indian companies with the International Financial Reporting Standards (IFRS). The new standards will initially be applicable for large companies that can voluntarily start adopting them in the next fiscal year starting April 1, 2015, before the rules become compulsory in the following year. Conforming accounting practices to globally accepted standards will reduce the…

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Sharjah keen to attract Indian investments

Source: Economic Times Seeking to promote Sharjah as an investment hub, a business delegation from the emirate has held discussions with top Indian investors and industrialists. The Sharjah Investment and Development Authority (Shurooq) successfully concluded its participation in the Trade Mission to India from December 15-18. Shurooq’s participation comes in line with its strategy to highlight the business potential and investment opportunities in Sharjah, one of the seven monarchical emirates in the UAE. “The four-day B2B event was an opportunity…

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Top ten investment ideas by experts which can give up to 38% return in next 1 year

Source: Economic Times Benchmark indices managed to bounce back in trade on Thursday, snapping five days of continuous fall, as sentiment in global markets turned positive after the US Federal Reserve meet. The Cabinet nod to the GST Bill also raised hopes of reforms in the coming months. For the long-term investors, the recent fall provides a good opportunity to enter stocks at lower levels and average out their positions, say experts. The S&P BSE Sensex has corrected over 1800…

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India signs 625 million euro loan agreement with Germany

Source: Economic Times India has signed a 625 million euro loan agreement with Germany for financial assistance to Green Energy Corridors (GEC) project under Indo-German bilateral development cooperation. “… the loan agreements were also signed for GEC project amounting to 625 million euro,” an official statement said. “Department of Economic Affairs Joint Secretary Rajesh Khullar signed loan agreements with German government’s Development Bank KfW for a loan of 76 million euro to Tamil Nadu and 49 million euro to Rajasthan…

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Govt considering six FDI proposals in single-brand retail

Source: indiatvnews.com Six proposals for foreign direct investment (FDI) in the single brand retail sector are under the process for approval, government said on Tuesday. In January 2012, India raised the FDI cap in single-brand retail to 100 per cent from 51 per cent. Around 18 proposals worth USD 173 million were approved between April 2010 and May 2013, as per the government data. “At present, six proposals for investment in single-brand retail trading are under process for government approval,”…

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Over Rs 24 crore FDI received in defence sector

Source: Economic Times Foreign Direct Investment (FDI) worth Rs 24.36 crore has been received in the defence sector till September this year, government said today in the Rajya Sabha. “After opening up of the defence industry sector for FDI in 2001, 33 FDI proposals/joint ventures have been approved in the defence sector for manufacturing of various defence equipment, both in public and private sectors. “FDI amounting to Rs 24.36 crore has been received up to September 2014,” Minister of State…

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