NEW DELHI India is likely to exempt foreign portfolio investors (FPIs) from an increase in taxes in this year's budget approved by parliament, two government officials told Reuters, in comments that prompted a rally in stock markets.
* Govt may exempt FPIs from higher taxes introduced for the
NEW DELHI India's auto industry demanded tax cuts and easier access to finance for dealers and buyers at a meeting with Indian government officials on Wednesday to discuss the sector's woes, sources said, in an effort to revive sales that have slumped.
NEW DELHI Slumping sales of cars and motorcycles are triggering massive job cuts in India's auto sector, with many companies forced to shut down factories for days and axe shifts, multiple sources said.
NEW DELHI/MUMBAI, Aug 5 India's gold imports in
July plunged 55% from a year ago to the lowest level in three
years as a rally in local prices to a record high and a hike in
import taxes curtailed demand, a government source said on
NEW DELHI/MUMBAI India's gold imports in July plunged 55% from a year ago to the lowest level in three years as a rally in local prices to a record high and a hike in import taxes curtailed demand, a government source said on Monday.
* August imports seen down as prices rise further
(Adds details, bullion dealers comment)
MANESAR/NEW DELHI India's biggest automaker, Maruti Suzuki India Ltd , said it had cut the number of its temporary workers to cope with a slowdown in auto sales, adding to the jobless problem in Asia's third largest economy.
NEW DELHI The Indian government is likely to put on hold a plan to raise the minimum public shareholding in listed companies, a source with direct knowledge of the matter said, amid concerns it could force the issuance of billions of dollars worth of shares.
NEW DELHI The apparent suicide of India's coffee baron V.G. Siddhartha, under investigation by tax authorities, has inflamed anger toward the government among business leaders who feel it is going too far in its crackdown on fraud and tax evasion.