Life Insurance Corporation has invested in nine state-owned banks. The Indian-based insurance group has invested around ₹2,750 crore in shares of nine banks in order to strengthen their capital reserve.
Indian Finance Minister has apparently faced the brunt of imposing tax on withdrawals from EPF. Ahead of widespread criticism, he has explained certain provisions in the proposed budget arguing in its favor. However, he has hinted for a partial rollback.
Gold purchase in India increased 62% during the month of January. The government lifted the import duty on gold citing the growing prices in global market.
India is about to fund $3.56 billion of capital to govrnment-run lenders because of bad and restricted loans. Banks felt relief as the government is ready to help them when they need the capital.
With the release of the yearly budget many are hopeful that their lives will change for the better especially for those who live in the rural areas. The allocated budget focuses mainly on the agrarian sector, health and social and infrastructures that could help alleviate sufferings and give comfort for the less fortunate.
Indian Prime Minister Narendra Modi reveals the details of his much talked-about project, Startup India. Some key highlights are revised IP registration policies, faster exit and entry, income tax exemptions, and benefits for a woman entrepreneur. Modi hopes with this plan in action, India will soon become the hub for global startups.
Indian Prime Minister Narendra Modi recently revealed his ambitious project, Startup India. The Rs10,000-crore plan is meant to encourage a thriving startup culture by reducing government regulations and hurdles from the way. This government aid should prevent the young entrepreneurs from fleeing to another country with better bureaucratic policies.
India plans to raise 410 billion rupees ($6.7 billion) by selling stakes in government companies during the fiscal year 2015/16, according to the budget proposal presented by Finance Minister Arun Jaitley on Saturday.
India's Finance Minister Arun Jaitley on Saturday announced a budget aimed at high growth, saying the pace of cutting the fiscal deficit would slow as he seeks to boost investment and ensure that ordinary people benefit.
India's Finance Minister Arun Jaitley favors a cut in interest rates to trigger demand in the construction sector, a newspaper report said on Saturday, but the central bank has signal it will not ease policy until it is confident of lower inflation.
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