Business

Under the upgraded crop insurance scheme Pradhan Mantri Fasal Bima Yojana (PMFBY), launched early 2016, farmers pay very nominal premium and get full claim for the crop damage.

Currently, 11 domestic lenders including SBI, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Bank of Baroda have opened their businesses at GIFT (Gujarat International Finance Tec-City).

Around 500 corporates have been admitted for resolution and about 100 companies have commenced voluntary liquidation under the Insolvency and Bankruptcy Code (IBC), which is a little over a year old.

Jaitley said it is taxpayers' money which is being infused into the ailing banking system and now the responsibility is on the sector to improve health to help in pushing towards a robust economy.

The minister, in a debate 'short-term discussion on the state of economy' in the Rajya Sabha, said the coming generations will remember this government for creating a 'new economic history' of the country.

A Finance Ministry statement said there was a real and heightened risk of an investment bubble in virtual currencies of the kind seen in “ponzi schemes”.

Nitin Gadkari, Minister for Road Transport and Highways, recently wrote to Finance Minister Arun Jaitley seeking around 18 percent increase in budgetary allocation.

Of the Rs 80,808 crore collected, Rs 7,798 crore has been garnered as compensation cess in November – the fifth month of GST roll out.

The 30-share index crossed the 34,000-mark by jumping 65.07 points, or 0.19 per cent, to 34,005.37.

The committee has made a case for amending banking laws, including the SBI Act, to provide for disclosure of names of loan defaulters.

ASSOCHAM President Sandeep Jajodia said the projections were based on the assumption of stability in government policies, good monsoons, pick-up in industrial activity and credit growth as also stability in the foreign exchange rates.

Till now, tax authorities could only issue notice to a defaulting or erring taxpayer as per the address provided by them in their PAN (Permanent Account Number), the ITR (income tax return) or any tax-related communication.

In the opening session, the domestic unit went up 4 paise to 64 against the dollar.

India's milk production is expected to outperform global production and grow at a similar 4.2 percent CAGR to 185 million MT per annum, and surpass EU to emerge the largest dairy producer by 2020.

Telecom Regulatory Authority of India had issued a regulation in February 2016 on discriminatory pricing over internet access which led to ban of platforms like Free Basics and Airtel Zero.

Imported smartphones will cost more with customs duty on them being increased to 15 per cent from nil now, the Finance Ministry said in a notification.