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February 2016

Sensex ends lower; ONGC slumps on tax woes

February 29, 2016 by shekarm

Indian stock markets fell on Monday in a volatile session, with energy companies such as Oil and Natural Gas Corp slumping after the government unveiled a higher-than-expected tax in its budget for 2016/17, offsetting hopes for rate cuts that had lifted bonds and the rupee.

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Govt to amend RBI Act to set up Monetary Policy Committee

February 29, 2016 by shekarm

The government today proposed to amend the RBI Act for setting up of a Monetary Policy Committee (MPC) which will fix the benchmark interest rate of the central bank and set inflation targets.

"The RBI Act 1934, is being amended to provide statutory basis for a Monetary Policy Framework and a Monetary Policy Committee through

No capital gains tax on redemption of gold bonds

February 29, 2016 by shekarm

In a bid to popularise the ambitious Sovereign Gold Bond scheme, Finance Minister Arun Jaitley today proposed exempting such bonds from capital gains tax on redemption.

"It is proposed to provide that redemption by an individual of Sovereign Gold Bond issued by Reserve Bank of India under Sovereign Gold Bond Scheme, 2015 shal

RBI sets Re reference rate at 68.6160 against USD

February 29, 2016 by shekarm

The Reserve Bank of India today fixed the reference rate of the rupee at 68.6160 against the US dollar and 76.0796 for the euro.

These rates were 68.7775 and 76.0404, respectively, as on February 26, 2016.

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Govt raises surcharge on income of super-rich to 15 pc

February 29, 2016 by shekarm

The government on Monday increased the surcharge on the super-rich having an annual income of over Rs one crore by three per cent to 15 per cent.

Unveiling the Union Budget for 2016-17, Finance Minister Arun Jaitley said he proposes to "raise the surcharge from 12 per cent to 15 per cent on persons, other than companies, firm

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Defence budget hiked by nearly ten per cent

February 29, 2016 by shekarm

The defence budget was today increased by 9.76 per cent to Rs 2.58 lakh crore for the next fiscal as compared to the revised estimates of Rs 2.33 lakh crore for 2015-16 even as military pension zoomed to Rs 82,000 crore mainly due to the One Rank One Pension scheme.

The capital outlay for the three services, for modernisation

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Budget aims at increasing rural income, infrastructure: FM

February 29, 2016 by shekarm

 Finance Minister Arun Jaitley on Monday said the Union Budget is aimed at improving rural infrastructure and increasing rural income as the biggest challenge to the economy is agrarian distress.

He said the Budget for 2016-17 aims at taking forward economic reforms, increasing spending on infrastructure and giving a boo

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Govt to amend RBI Act to set up Monetary Policy Committee

February 29, 2016 by shekarm

  • Govt to amend RBI Act to set up Monetary Policy Committee

Govt unveils major thrust to Skill India

February 29, 2016 by shekarm

  • Govt unveils major thrust to Skill India

No capital gains tax on redemption of gold bonds

February 29, 2016 by shekarm

  • No capital gains tax on redemption of gold bonds

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