Sitharaman and RBI Governor Das arrive to attend the RBI's central board meeting in New Delhi. File photo/ Reuters
Indian Finance Minister Nirmala Sitharaman announced a slew of measures on Friday to revive sagging investment in Asia's third largest economy including a cut in corporate taxes.
Sitharaman told a news conference that the effective corporate tax rate will be lowered to 25.75% from 30%, which she said would be at par with Asian peers.
The government also scrapped the minimum alternative tax for domestic companies.
India’s current account (CA) balance deficit grew to $68 billion in 2018-19 from $49 billion the previous year, according to the International Monetary Fund (IMF), which said the deficit was justified by development needs.
Bangladesh Prime Minister Sheikh Hasina has arrived in India for a visit during which she is expected to sign agreements on increasing trade and investment and improving regional connectivity.
The Indian government may end the cross-holding structure existing in the oil sector as it looks to further consolidate operations of public sector enterprises and go ahead with its privatisation plan by getting a fair valuation of assets.
MUMBAI: India’s cricket selectors on Sunday named Rishabh Pant as their preferred wicketkeeper for all three formats for next month’s tour of West Indies with the future of long-serving glovesman Mahendra Singh Dhoni still shrouded in mystery. Dhoni, 38, has been the subject of intense speculation on his
South Korea’s Centers for Disease Control and Prevention (KCDC) announced additional 161 cases and 2 deaths on Monday, bringing the toll to 763 that puts the country third in the list of COVID-19 infected hotspots.
Dubai motorists were given a great deal of settling the incurred traffic fines with discounts, and under the condition of not committing a similar traffic fine.
Mahathir, who previously served as premier from 1981 to 2003, had made a pre-election pledge to hand power to Anwar but has repeatedly refused to fix a date.