India to buy $2 billion missile systems from Israel
The Dollar Business Bureau India, one of the world's largest defence importers, and Israel, globally known as a top exporter of military prowess, have signed a historic defence trade deal of $2 billion. Under the said deal, Israel will provide India with advanced surface to air missile (SAM) systems. These defence systems are used to target enemy aircraft, drones and missiles within a 50 km - 70 km range. The mega defence deal is a big step towards expanding bilateral defence cooperation between the two countries ahead of PM Modi's visit to Tel Aviv in July, 2017. This will also give a fillip to the total trade between India and Israel which stood at $4.9 billion as of 2015-16, registering negative growth every year since 2011-12, when it was at a high of $6.7 billion. Under the agreement, Israel has agreed ...
Government will increase spending in irrigation & rural infrastructure: FM
The Dollar Business Bureau The government in the coming years will increase spending in irrigation and rural infrastructure. The above statement was made by Finance Minister, Arun Jaitley at a press conference to mark the occasion of completion of one year of the present NDA Government, said a PIB release. The Finance Minister highlighting the government’s performance said, “We are in the process of creating history by bringing about the most important Indirect tax Reform through the implementation of GST. The government has been able to contain the fiscal deficit at 4% as against the target of 4.1% for 2014-15. The Government raised Rs 24,277 crore through disinvestment during 2014-15. Laws to squeeze black money have been introduced in ...
High-level committee to deal with tax issues
The Dollar Business Bureau The Union Finance Minister, Arun Jaitley, on Monday, stressed on need for a non-adversarial taxation policy, as he made clear that the Government of India will not impose ‘retrospective’ taxes. “Our taxation process has to be simpler to increase tax buoyancy and the taxation policy has to be non-adversarial. The government does not intend to tax people retrospectively,” said Jaitley, addressing the D P Kohli Memorial Lecture in New Delhi. Further promising a business-friendly environment for the global investors, the Union Finance Minister called for a globally competitive corporate tax structure. He stated this in reference to the Union Budget 2015, where the government has proposed to reduce the corporate tax from 30 % to ...
