Search Result for : Union Budget 2014

 Steven Philip Warner | @TheDollarBiz   Policies cannot be judged unequivocally by outcomes. Under such ambiguity, let us say that in many-a-case, failure becomes the twin of a noble impulse, and criticism is the outcome of bold decisions at a macro-level. But there is an indicative measuring rod. A number that has a soul to appraise performance vis-a-vis promise. When FTP 2009-14 was released, the-then policymakers had set a target of crossing the $500 billion mark in India’s exports by FY2014. The target therefore called for $315 billion in incremental annual exports. By FY2012, it had become profoundly certain that India’s FTP lacked punch – perhaps some real big incentives in  the form of credit scrips or drawbacks ...

However, traders should look at the changes closely to spot opportunities in future. Dr. K.S. Rao , General Manager (Strategic Planning), Bank of Baroda, Mumbai, India Among other measures to attract foreign funds, the government’s decision to increase the FDI cap from 26% to 49% in defence and insurance sectors is a far-reaching positive step. It can have a multiplier impact on boosting India’s economy. Moreover, the move to treat income from Foreign Investment Portfolio (FPI) as ‘capital gain’ instead of ‘business income’ provides clarification on treatment of its income that can put tax litigations to rest. Going forward, it is proposed to merge limits for foreign direct, portfolio investment, investment by NRIs and venture capital investors in most sectors into ...

The Dollar Business Bureau | @TheDollarBiz   India's gold imports in FY2013-14 have declined about 34% from previous year   India’s Finance minister Arun Jaitley says that the duty on gold imports is unlikely to change until the current account deficit (CAD) improves further, which means that prices and smuggling of gold could rise sharply this year. Last year, the government increased the customs duty on gold to 10% to contain the current account deficit (CAD) which stood at around $88 billion or 4.7% of Gross Domestic Product (GDP) in FY2012-13. The trade balance improved during FY2013-14 and CAD declined to around $32.4 billion or 1.7% of GDP during 2013-14. High duties and other measures such as the 80:20 (export-import) rule ...

He says that the Finance Minister did not reduce the import duty on gold even by 2-3% (from the current 10%) which means that smuggling of gold will continue. Vipul Shah said that the Modi government’s maiden budget did not signal any bold reforms. However, he added that the Gem & Jewelry sector is happy that its recommendations for rationalization of import duty on broken diamonds and withdrawal of import duty on pre-forms of semiprecious and precious stones have been accepted. “Also the rationalization of import duty on processed diamonds to 2.5% will help the domestic manufacturing sector,” he said.   IOPEPC: Budget is the first step, India needs a favourable FTP Kishore Tanna, Chairman, Indian Oilseeds And Produce Export ...

1:14 pm: Single-window Customs service to be initiated for faster clearance of imports and exports; 24x7 clearance facility to be provided at select airports and sea ports 1:10 pm: Service tax on loading/unloading of cotton exempted 1:08 pm: Increase in excise duty on aerated drinks 1:07 pm: Increase in excise duty on cigarettes and other tobacco products 1:06 pm: Reduction in excise duty on sports goods 1:05 pm: Reduction of excise duties on footwear not exceeding Rs. 1,000 per pair 1:04 pm: Custom duties on various coal varieties harmonised 1:03 pm: Basic custom duty on gems and stones rationalised; exemption for some items to promote gem exports; duties on some diamond varieties raised 12:59 pm: Custom duties ...