Diabytes
Finance Bill 2016 News
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New Delhi: Backing a second term for RBI Governor Raghuram Rajan, leading Indian-American economist at Princeton University Avinash Dixit said the apex bank chief should have "full operational independence" when it comes to pursuing targets on employment, growth and inflation.
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The Finance Ministry is in the process of nominating three independent directors to Monetary Policy Committee (MPC) which will fix the benchmark interest rate of the RBI and set inflation targets.
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The new 10 percent Dividend Tax will be payable only on dividend income over and above Rs 10 lakh threshold in a year, according to an amendment to the Finance Bill 2016 approved by Lok Sabha.
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Disclosures made in the 4-month compliance window beginning June 1 for domestic black money holders to come clean will be kept secret, according to an amendment to the Finance Bill 2016 approved by the Lok Sabha.
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Already the fastest growing major economy in the world, India can grow at an even faster pace this year if predictions of good monsoon hold up, Finance Minister Arun Jaitley said Thursday.
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Finance Minister Arun Jaitley on Thursday said in Lok Sabha that good monsoon will aid in accelerating economic growth.
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