Plan and Policy

Plan & Policy

Dassault Systemes bets on construction

While the mining sector solution remains its forte, Dassault Systemes India is now betting big on the civil and construction verticals. Dassault Systemes, known for its 3D experience platform, has tasted success in this area in the development of the ‘virtual shipyard’ industry digital training programme in South Australia and implementation of smart city projects in Singapore, Jaipur (India), and Rennes (France).

Sovereign gold bond scheme to open on Oct 15

The government's sovereign gold bond scheme will be open for subscription from mid-October, running up to five tranches till February, RBI said on Monday.

The sovereign gold bon­ds would be issued every month from October 2018 to February 2019 as per the calendar specified, the RBI said in a release.

The bonds would be sold through banks, Stock Holding Corporation of India (SHCIL), post offices, and stock exchanges – NSE and BSE. The first tranche of the scheme would be open for subscription from on October 15.

Now file ITR, audit report till October 31

The government on Monday extended the deadline till October 31 for filing income tax return (ITR) and audit report for financial year 2017-18.

This is the second extension granted by the central board of direct taxes (CBDT) for return filing by those assessees whose books of accounts have to be audited.

On September 25, CBDT extended deadline for submission of tax return and audit report till October 15 from September 30.

Homebuyers ignore new projects

With many real estate projects stuck across the country, prospective homebuyers are shying away from investing in newly launched projects and instead looking for ready-to-move-in flats or un­i­ts to be completed in 6 mon­ths, according to a survey.

As per the online survey by property consultant Ana­rock, about 49 per cent respondents prefer ready-to-move-in properties while 35 per cent are looking to buy property, which will be in ready-to-move-in stage within 6 months.

Sebi revises norms for recovery of investors’ money

Markets regulator Sebi has put in place revised norms for recovering of investors’ money, wherein a registered insolvency professional will be appointed as administrator to undertake sale of assets.

The regulator has revised the procedures to be followed for refunding the investors’ money pursuant to failure of complying with disgorgement or refund orders passed by it.

India cuts Iran oil imports to win US sanctions waiver

India hopes to secure a waiver from US sanctions on Iran before they take effect on November 4, as it had significantly cut Iranian oil imports before the deadline, officials said on Monday. The United States is imposing new sanctions on Iran’s oil industry after Washington withdrew from a nuclear deal between Tehran and other global powers.

Washington said on Friday it was considering waivers for nations that were reducing imports of Iranian oil.

Fuel price deregulation to stay

Oil minister Dharmendra Pradhan on Monday said there was no question of going back on deregulation of fuel pricing despite the government asking state-owned firms to subsidise petrol and diesel by Re 1 per litre.

Speaking at The Energy Forum here, he said international oil prices touching a four-year high of $85 per barrel is a “challenge” that has resulted in fuel prices continuing to rise despite a one-off excise duty cut and public sector units (PSUs) subsidising fuel.

New closing low for rupee; government, RBI unperturbed

The rupee continues to remain under pressure. The local currency on Monday plunged to a new record closing low of 74.06 against Friday’s close of 73.76, a depreciation of 30 paise against the US dollar. It was the sixth straight session of loss for the rupee.

Experts said the rupee is weighed by a further rise in long-term US treasuries after the country’s unemployment rate fell to the lowest in 49 years.

Govt shifts to top gear for resolving IL&FS crisis

After superseding the IL&FS board, the Centre has once again moved the NCLT seeking relaxation in certain rules for faster resolution of crisis-ridden infra lender. Meanwhile, two major stakeholders in the beleaguered company, SBI and LIC, discussed matters relating to IL&FS with finance minister Arun Jaitley.