Commerce Department recommends tariffs on steel, aluminum
Tech Luminary Peter Thiel Parts Ways With Silicon Valley
Freezing rain warning issued for Toronto and GTA
FireEye (NASDAQ:FEYE) Rating Increased to Hold at Zacks Investment Research
Celebrity Big Brother star Omarosa says she was 'haunted' by Trump's tweets
Challenges Arun Jaitley Faces In Government's Last Full-Year Budget
01 February 2018, 12:52 | Ruby West
If he gets it right finance minister Arun Jaitley’s last hurrah could be the moment for rewriting the public narrative
Despite Prime Minister Modi's assertion to the contrary, the general observation is that the government is expected to present a populist and please-all budget before elections due in 2019. From farmers to students to salaried class to India Inc, all are keeping their fingers crossed.
"To facilitate cross-border trade and investment without the barrier of double taxation, the Government of India and the United States government should reaffirm the shared commitment to improving tax dispute resolution". The budget proposals are also expected to focus on addressing tax provisions that impact flagship programs of the government, such as "angel tax" that impacts Start-Up India, and MAT on debt restructuring that worries the working of the Insolvency and Bankruptcy Code. "The housing finance companies like us have a key role to play in boosting the government's efforts towards affordable and low-priced housing in metros as well as in tier-II and III cities", said Monu Ratra, ED and CEO, India Infoline Housing Finance Limited. Be it Bharatmala Project aimed at boosting road connectivity in the country or development of ports under Sagarmala, . government may take several steps to boost the infrastructure sector, which will not only boost the economy but also help in creating jobs. He said, "It comes at a time when the world is looking at us, be it the global credit-rating agencies, the World Bank, the International Monetary Fund which have been very positive in their opinion about the growth of India and the road ahead". Last year, the finance minister had reduced the income tax for small companies with annual turnover of up to Rs 50 crore to 25 per cent. Given the importance of MSME for the overall growth of the economy, this sector needs to stabilise first.
"Tax uncertainty results in an increase of risk when investing in any given project drives investors to either withhold investments or require a higher rate of return to account for this risk, thus raising the cost of capital in the uncertain market", she said.
India imports 80 per cent of its energy requirements, and the government may need to respond to higher crude prices like it did in October, by cutting fuel duties.
REVIVING BANKING SECTOR: Banks struggling with the financial crisis and NPAs have great expectations from the budget. It is believed that there can be some other announcement in the budget for both.
The real estate sector is expecting to get infrastructure status to make "Housing for All by 2022" a reality. Will 2018-19 see Budget for all remains to be seen.
The target Jaitley had previously set out was to lower the fiscal deficit to 3.2 per cent of the GDP in the current fiscal and to 3 per cent in 2018-19, the Budget for which he would present in the Lok Sabha tomorrow.
Dutch Spies Exposed Russian Hackers in US Election Meddling
Their camera access was said to add to evidence that the hacks from the group were backed by Russia's Foreign Intelligence Agency. And it was the information that they were able to provide to the United States shed light on Cozy Bear .
Trump turns to 5G to avoid network spies
Shares of the biggest USA wireless carriers fell at the start of trade on Monday, with Verizon and AT&T down 1 percent. The Axios report calls the first option "an unprecedented nationalisation of a historically private infrastructure".
Total lunar eclipse happening early Wednesday morning
A lunar eclipse is when the sun, Earth, and moon form a straight line - with the moon passing through the shadow of the Earth. When the entire disc of the moon crosses the darker shadow, the eclipse is known as a total lunar eclipse .
Glee's Mark Salling Dies Aged 35
He was ordered to pay $50,000 retribution to all victims that requested it, register as a sex offender , and undergo treatment. A month before his death, Salling formally pleaded guilty to possession of child pornography.
Federer walks over Chung, into record 7th Aussie final
Chung delivered a big serve on the first of them which was called out by the line judge. "I like those attitudes". He says he is in a good space with his serve and forehand. 'When he arrived, I didn't want to bother him.
Nokia 3310 with 4G VoLTE, YunOS launched in China
It is also expected that HMD Global might showcase the Nokia 3310 4G at the upcoming Mobile World Congress in Barcelona, Spain. Apparently, it's been working well for them because the company is now introducing a 4G version of the phone in China .
CIA Director: China Has More Potential to Harm US
The North Korean nuclear and missile programs now threaten not only the region but also the United States mainland. Despite this, he told the BBC he was "confident that America will be able to have a free and fair election ".