(Reuters) – British finance minister Rishi Sunak is facing criticism over his Indian wife Akshata Murthy’s “non-domiciled” tax status which means she does not pay tax in Britain on her earnings abroad. “Non-dom” status is controversial in Britain as it is an option for very few taxpayers and is overwhelmingly used by the top 1% …
Factbox-What is Britain’s ‘non-dom’ tax status and who can claim it? Read More »
April 8 (Reuters) – The Indian government had no outstanding loans with the central bank under ways and means advances in the week ended April 1, according to the Reserve Bank of India’s weekly statistical supplement released on Friday. The central government had no outstanding loans in the week earlier as well. State governments had …
Indian govt had no outstanding loans from RBI in April 1 week Read More »
April 8 (Reuters) – Indian banks’ loans rose 9.6% in the two weeks to March 25 from a year earlier, while deposits rose 8.9%, the Reserve Bank of India’s weekly statistical supplement showed on Friday. Outstanding loans rose 1.78 trillion rupees ($23.51 billion) to 118.91 trillion rupees in the two weeks to March 25. Non-food …
Indian banks’ loans rose 9.6% y/y in two weeks to March 25 – central bank Read More »
By Chandini Monnappa BENGALURU (Reuters) – Six schools in the southern Indian city of Bengaluru received bomb threats on Friday, police said, with officers conducting searches of premises across the city. “Six schools received a bomb threat, searches are underway and almost complete and nothing has been found so far,” Bengaluru City Police Commissioner Kamal …
Schools in India’s tech hub Bengaluru receive bomb threats Read More »
NEW DELHI (Reuters) – India’s cabinet on Friday approved a policy that will let firms run by the federal or state governments surrender non-operational mines without penalty in a move that would allow the country to auction them off to help boost output. Companies will be able to surrender the mines without forfeiting bank guarantees …
India cabinet backs policy to allow firms to forfeit inactive coal mines Read More »
BENGALURU (Reuters) -India will offer booster doses of COVID-19 vaccine to all adults from Sunday, although free third doses will be limited to frontline workers and those older than 60 who get them at government centres. The country has given 1.85 billion vaccine doses among its population of 1.35 billion. Of these, 82% are the …
India to widen COVID booster effort to all adults from Sunday Read More »
MUMBAI (Reuters) – India could export a record 9 million tonnes of sugar in 2021/22 marketing year as production is likely to jump to a record 35 million tonnes, nearly 5% more than the previous estimate, a leading trade body said on Friday. The higher exports from the world’s second-biggest producer of the sweetener could …
Indian trade body again raises sugar output and exports estimate Read More »
NEW DELHI (Reuters) – India’s gross federal tax collections rose to 27.07 trillion rupees ($356.82 billion) in 2021/22 financial year ending in March, a top finance ministry official told reporters on Friday, surpassing the revised target by a wide margin. In February, Nirmala Sitharaman, India’s finance minister had upwardly revised the tax receipts’ target to …
India’s gross tax receipts for 2021/22 estimated at over $356 billion – official Read More »
By Kate Holton and William James LONDON (Reuters) -British finance minister Rishi Sunak faced awkward questions about his wife’s finances on Thursday after she confirmed she did not pay UK taxes on her foreign earnings on the same day he hiked taxes for millions of people. Sunak, a former banker, is married to Akshata Murthy, …
UK’s Sunak faces questions over wife’s UK tax status Read More »
BENGALURU (Reuters) -Indian carmaker Mahindra & Mahindra said on Thursday that a deal to sell its bankrupt unit, SsangYong Motor Co, to South Korean electric carmaker Edison Motors Co had been terminated. The receiver of SsangYong cited Edison’s inability to deposit the bid amount for the termination of the deal, Mahindra said in an exchange …
India’s Mahindra says deal to sell SsangYong Motor to Edison terminated Read More »
