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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.
India has attracted total foreign direct investment (FDI) inflow of $67.54 billion during April to December 2020, Centre said on Thursday.
India’s strong economic recovery, an expectation of low-interest environment and improved asset income visibility may drive investments in 2021, according to a survey on capital markets by property consultancy firm JLL India.
India is considering revising its foreign investment rules for e-commerce, three sources and a government spokesman told Reuters, a move that could compel players, including Amazon.com, to restructure their ties with some major sellers.
In a ghastly incident in Pakistan's Faisalabad city, a medical student was tortured, humiliated and sexually harassed for refusing to marry an older man (influential businessman), who is also the father of her friend, media reports said on Wednesday.
The airlines’ crews will distribute the customs’ declaration forms during the flights among all passengers, irrespective of their nationality. The declaration forms will be deposited at the customs` counters before the immigration desks at all airports.
With the theme “Recover Faster, Rise Stronger”, Indonesians across the globe at approximately 288 million, commemorated on Wednesday, August 17, their 77th Freedom Day from The Netherlands.
An Arab child drowned in a bathtub in his family’s house, after being left unattended. This was reported last Tuesday, when the Operations Room of the Sharjah Police received a report stating that a two-and-a-half-year-old Arab child drowned in a bathtub in his family’s house.