Business

The government increased import tariffs on nearly 75 items, including gold and automobile parts, to help pay for recapitalising banks and supporting small business in a bid to revive sagging growth.

Examples of indirect taxes in India include service tax, central excise and customs duty, value added tax (VAT) and most importantly goods and services Tax (GST).

Plan expenditures are estimated after discussions between each of the ministries concerned and the Planning Commission. Non-plan revenue expenditure is accounted for by interest payments, subsidies (mainly on food and fertilisers), among other factors.

Finance Commission chairman NK Singh Thursday said finance minister Nirmala Sitharaman has reacted "positively" to the request, adding the same plea was also made to her predecessor Arun Jaitley.

The survey lays strong emphasis on increasing the overall energy usage in the country.

Sitharaman is also likely to seek a higher dividend from the Reserve Bank of India, draw up plans to raise funds from a 5G telecom auction and propose more privatisation.

Eveready Industries shares lost 5% after it said that Price Waterhouse & Co Chartered Accountants LLP (PWC) has expressed its inability to continue as the auditors of the company.

Vishwanathan is one of the three deputy governors, besides BP Kanungo and MK Jain, working at the central bank.

Top gainers in the Sensex pack in early trade included Tata Steel, NTPC, Bajaj Auto, HDFC Bank, Axis Bank, Hero MotoCorp, PowerGrid and Tata Motors, rising up to 1.27 per cent.

Forex traders said that rupee appreciated on reports that Chinese President Xi Jinping and his American counterpart Donald Trump at the G20 summit have agreed to re-launch the stalled negotiations to end the trade war.

The broader NSE Nifty slipped 6 points, or 0.05 per cent, to end at 11,841.55. During the day, the index touched a high of 11,911.15 and a low of 11,821.05.

The 1997 budget was called the ‘Dream Budget’ primarily because P. Chidambaram massively reduced personal income tax and corporate tax rates.

The Union Budget can set a clear target and roadmap towards improving productivity by measures that a) create a conducive atmosphere for formalisation, both enterprises and jobs, and b) enhance workforce quality.

Bharti Infratel Ltd shares gained 2.6% after global investment firm Morgan Stanley resumed its coverage with overweight rating on the stock, citing stability in tenancy.

Why India Inc shies away from investing in agriculture could be a mix of reasons: small and fragmented land holdings, poor returns on investment, inadequate investment in technological advances.

Larsen and Toubro (L&T) had initiated a hostile takeover of Mindtree Ltd in March and has since then expanded its shareholding to a majority stake with large investors, like Nalanda, selling their shares in the ongoing open offer.