Plan and Policy

Plan & Policy

Unlocking US-India Trade Potential' meet on Nov 7

Steps for unlocking the US-India trade potential would be explored by American, Indian, and international businesses with trade experts at a two-day trade meet beginning here on November 7.

Around 100 conference attendees will explore the economic partnership between the United States and India, factors that pose impediments to growth, and potential solutions.

The trade conference would address themes, including ease of doing business, expanding defence cooperation and energy cooperation, US Consulate General, Chennai, said.

GST a better tax regime: Nitish

Bihar Chief Minister Nitish Kumar today praised the GST as a better tax system and said there is a need to give more and detailed information about the new indirect tax regime (GST) to the people.

Kumar said this at a review meeting convened to discuss about the work of Commercial Taxes department and GST at his official residence here.

Officials should be involved in spreading and disseminating information among the people about GST, Kumar said adding that people should not pay heed to disinformation and misinformation regarding the GST, a government release said.

5-judge bench to deal with pleas on depositing scrapped notes

A five-judge constitution bench, which would decide the validity of the Centre's November 8, 2016 decision to scrap Rs 500 and Rs 1000 notes, would also deal with the pleas seeking to deposit the demonetised currency, the Supreme Court today said.

Trump selects Powell for Fed Chairman, replacing Yellen

President Donald Trump plans to nominate Federal Reserve Governor Jerome Powell to the top job at the U.S. central bank, according to four people familiar with the decision. In Powell, he’ll select a former private-equity executive who favors continuing gradual interest-rate increases and sympathizes with White House calls to ease financial regulations. The president will announce his decision Thursday at 3 p.m. Washington time from the Rose Garden, the White House said in a statement. Powell declined to comment when approached by a reporter outside his Washington-area home.

SBI cuts home, auto loan rates

Giving marginal relief to its customers, the country’s largest lender State Bank of India (SBI) on Thursday said that it has cut rates on its home and car loans by 5 basis points. Following a cut in marginal cost lending rate or MCLR by 5 basis points, bank has reduced home loan interest rates to 8.30 per cent per annum from 8.35 per cent per annum.

Similarly, auto loan is now offered at a starting interest rate of 8.70 per cent per annum compared to earlier from 8.75 per cent.

I-T surveys rise by 200%, but money recovered up only 40%

The taxmen seem to be firing more in the dark. The income tax (I-T) department conducted 12,526 surveys in the last financial year (FY17), almost 200 per cent more than the previous year (FY16), but money detected in these cases saw barely 40 per cent increase at Rs 13,736 crore.