Business

After shaking mobile telephony with free voice calls and dirt cheap data, richest Indian Mukesh Ambani today unveiled an ultra high-speed fixed line fibre broadband for homes and enterprises across 1,100 cities and announced plans for an e-commerce platform that may rival likes of Amazon. The new offerings alongside the strengthening of the mainstay energy and petrochemicals business will help ...

DAINIK NATION BUREAU Prime Minister Narendra Modi on Sunday ruled out a single tax rate under the GST, saying a Mercedes car and milk cannot be taxed at the same rate and accepting the Congress’ demand for a uniform 18 per cent rate would lead to a spike in cost of food and essential items. Modi said the Goods and ...

DAINIK NATION BUREAU Giving stress that India has been able to implement the major indirect tax reform GST in a least disruptive manner, Union Minister Arun Jaitley today said best of the new regime in terms of contribution to the society was yet to come. The government rolled the Goods and Services Tax (GST), which encompasses 17 indirect taxes and ...

The NDA government repaid over Rs 2 lakh crore, including Rs 70,000 crore interest, which was taken as loan through oil bonds by the previous Congress government at the Centre, Union Petroleum & Natural Gas Minister Dharmendra Pradhan said today. Pradhan’s assertions came as strong retort to the Congress which has been using recent fuel prices hike to attack the ...

DAINIK NATION BUREAU A peak tax rate of 28 per cent plus states levying some amount of local sales tax or VAT on petrol and diesel is likely to be the tax structure when the two auto fuels are covered under the GST regime, a top government official said. The peak GST rate plus VAT will be equal to the ...

DAINIK NATION BUREAU The Economic Offences Wing (EOW) has arrested Ravindra P. Marathe, the Chairman and Managing Director of Bank of Maharashtra, in a case of Rs. 3,000 crore fraudulent loans extended to Pune’s DSK Group, an official said here on Wednesday. The EOW has also arrested the bank’s Executive Director Rajendra K. Gupta, Zonal Manager Nityanand Deshpande from Ahmedabad ...

DAINIK NATION BUREAU Finance Minister Arun Jaitley has ascertained that the chief economic advisor Arvind Subramanian would return to US in October. “Few days ago Chief Economic Advisor Arvind Subramanian met me over video conferencing. He informed me that he would like to go back to the United States on account of pressing family commitments. His reasons were personal but ...

DAINIK NATION BUREAU Acquisition of land for the bullet train project hit a hurdle on Monday, when nearly 200 farmers from over 15 villages in Surat presented a memorandum to the district collector opposing the land acquisition notification for the project. The memorandum, citing 14 objections to the notification, was presented by the group of farmers who had arrived on ...

DAINIK NATION BUREAU To facilitate an independent investigation into charges of favouritism and impropriety ICICI Bank Chief Executive Officer Chanda Kochhar will proceed on leave while the group’s life insurance head Sandeep Bakhshi will run the lender as its Chief Operating Officer. In a recent reshuffle, the bank’s executive director NS Kannan will become the chief executive of ICICI Prudential Life Insurance ...

DAINIK NATION BUREAU Audi chief executive Rupert Stadler was arrested on Monday in connection with parent company Volkswagen’s “dieselgate” emissions cheating scandal, with prosecutors saying they feared he might try to destroy evidence. This comes a week after Munich prosecutors raided Stadler’s home, accusing him of fraud and falsification of documents. Stadler is the most senior executive yet to be ...