News on Indian Economy
With 31 new Indians on the list, India comes third after China and USA on Hurun’s Global Rich List 2018. However, China with 819 names and USA with 571 are way ahead in terms of number of billionaires. China, has catapulted in the competition, leaving its competitor USA far behind. Last year the numbers were neck-to-neck at 534 and 535 billionaires respectively.
With a hope of getting larger chunk of $100 billion in global taxes to be paid by digital companies, India is pushing that number of users should determine taxes payable by digital majors in a country. The OECD under its Base Erosion and Profit Shifting initiative has come up with a number — $ 100 billion — in additional taxes digital majors need to pay globally.
Within three months, traders from India and Russia can move goods between the two countries through Iran, said Container Corporation of India (Concor) CMD V Kalyana Rama on Tuesday evening.
Taxability in India depends on your residential status for each relevant tax year. The scope for taxation gets determined based on whether you are a resident or a non-resident (“NR”).
Indian Railways has registered the best ever safety record in the current financial year 2019-20. In the year so far (from 01.04.2019 to 24.02.2020) there has been no fatality of any railway passenger in any consequential railway accident
According to the depositories data, foreign portfolio investors (FPI) invested a net sum of Rs 10,750 crore (US$ 1.54 billion) into equities and Rs 12,352 crore (US$ 1.77 billion) into the debt segment, taking the total net investment to Rs 23,102 crore (US$ 3.31 billion) between February 3-20.
He said that the grid connectivity would ensure better capacity utilization by complementing member country’s demand and supply situation. He said, consumers will also benefit as the price of electricity will come down and they will get uninterrupted power supply.
The leaders today have declared energy as one of the four most important pillars of bilateral strategic engagement. India-US strategic energy partnership has been further energised with more emphasis on technology, innovation and capital infusion,” oil minister Dharmendra Pradhan tweeted.
Gas pipelines are planned to take the fuel to the east and northeast regions as well as to consumers in the south as part of the government push to raise the share of natural gas in India’s energy basket to 15 per cent by 2030 from the current 6.2 per cent, he said.
Currently, the government has a database of beneficiaries for soil health cards, Kisan Credit Cards, crop insurance scheme, PM-KISAN and other government schemes. Now all the database will be linked and integrated and one Aadhaar-authenticated data, which will be used as a reference point for all government-run schemes, will be created. Bringing all databases under one umbrella is expected to help the government reach only the authentic beneficiaries.
