Plan and Policy

Plan & Policy

Only 32% Indians make financial transactions online

Banking transactions, utility bill payment and online shopping are the three top financial transactions users make online, finds a study. However, only 32 per cent respondents who hold insurance policies are comfortable with any value transaction online.

Taxmen asked to encourage filing of returns

The central board of indirect tax and customs (CBIC) has advised field officers to persuade non-filers to file their returns in GSTR-3B and sort out issues with state tax officers to avoid differences between refund sanctioned and their disbursal.

In a communication to the field staff, CBIC chief Vanaja N Sarna said  Bhub­aneshwar zone had issued more than 10,000 notices to taxpayers for not filing returns. Following this, these assessees filed returns and paid Rs 280 crore in cash.

Fitch ups India growth forecast to 7.4% for FY19

Fitch Ratings on Wednesday raised India's economic growth forecast to 7.4 per cent for 2018-19 but cited higher finance costs and rising oil prices as risks. It also said the rupee has been am­ong the worst performers vis-à-vis Asian currencies this year.

India has just a decade to become a developed nation: SBI

India has only one decade to change its status into a developed country and will ne­ed to focus on education, failing which the much-hai­led ‘demographic dividend’ will turn into a disadvantage, a report said on Wednesday.

If India is not able to get its act together, it will never be able to go into the developed group of nations, the report by the research wing of country’s largest lender SBI warned.

India, China join hands to set up oil buyers club

With Opec initiated production cuts playing havoc with oil prices, India has decided to break the dominance of the oil cartel by forging a strategic alliance with China to set up an ‘oil buyers club.’ The grouping would get a better bargaining power to negotiate better terms with sellers. India and China are among the largest economies in the world and the two are also the biggest importers of oil. With the two countries joining hands, oil market could quickly turn from sellers market to buyers market.

Delhi minister begins hunger strike as CM, others ‘wait’ to meet L-G

To press for their demands, which include a direction to IAS officers to end their “strike”, Delhi health minister Satyendar Jain began an indefinite hunger strike on Tuesday after chief minister Arvind Kejriwal and his cabinet colleagues spent Monday night at the lieutenant governor’s office.

The AAP government has also demanded action against those who have struck work for “four months” and asked the L-G to approve the proposal for doorstep delivery of rations.

Artificial intelligence can bridge rich-poor divide: Fadnavis

Dismissing the fear of unemployment due to artificial intelligence (AI), Maharashtra chief minister Devendra Fadnavis has said AI would create more jobs and help in bridging the gap between the rich and the poor. “On the contrary, it will create even more jobs and not just that, it will repair and solve ma-ny problems. Artificial intelligence has the power to bridge the gap between the rich and the poor,” he said at a panel discussion on Governance and Artificial Intelligence with Vice Premier of Quebec Dominique Anglade in Montreal.

Rahul Gandhi to face trial in RSS defamation case

Congress president Rahul Gandhi will face trial in a defamation case filed against him by an RSS worker, with a court here in Maharashtra on Tuesday framing charges against him even as he pleaded not guilty.

The 47-year-old Congress leader appeared before civil judge A I Sheikh in Bhiwandi, who read out the charges levelled against him and also the statement of the complainant Rajesh Kunte.

Kunte had filed the case in 2014 after watching Gandhi’s speech at an election rally in which he had claimed that the RSS was behind the killing of Mahatma Gandhi.

Spiritual guru Bhaiyyu Maharaj commits suicide in MP

Spiritual guru Bhayyu Maharaj, who had refused to accept ministerial rank granted by the Madhya Pradesh government over two months back, allegedly committed suicide on Tuesday by shooting himself in Indore, leaving his followers as well as the political community shocked.

“Bhaiyyu Maharaj has committed suicide by shooting himself,” Indore’s Deputy Inspector General (DIG) H C Mishra said. “He shot himself at his home,” Mishra added.

A large number of his supporters gathered in front of the hospital where the 50-year-old ‘godman’ was rushed after the shooting incident.

Nothing unusual about monsoon lull: IMD

The southwest monsoon, which has covered entire so­u­th peninsula and some pa­r­ts of central India, is likely to reach more areas in 48 hou­rs before entering into a lull, said a senior official of IMD.

Every year the monsoon goes into a lull and there is nothing abnormal in this, the official said.

Meanwhile, conditions are becoming favourable for further advance of monsoon into some more parts of Od­i­s­ha, remaining parts of the no­rtheastern states and so­me parts of Bengal and Si­kkim in 48 hours, said IMD.