New Delhi, March 18: Finance minister Pranab Mukherjee today bluntly told bullion dealers, who have gone on a strike against the levies on gold, that their pressure tactics “will simply not work”. Mukherjee in his budget proposals has doubled the basic customs duty on standard gold bars to 4 per cent and non-standard gold to 10 per cent. He has also imposed a 1 per cent excise duty on unbranded jewellery.
New Delhi, March 18: The budget has made a quantum jump in allocation from Rs 2.41 crore in this fiscal to Rs 18.20 crore in the coming year for setting up eight income tax overseas offices in countries such as the US and the UK in its efforts to combat the problem of black money stashed abroad.
Mumbai, March 18: The Reserve Bank has said it is a tall order to manage the government’s enhanced borrowing next fiscal, but it will do its best. “It is going to be a challenge managing the enlarged borrowing programme... but certainly we will see how best we manage,” deputy governor H.R. Khan said.
Mumbai, March 18: German banking leader Deutsche Bank has increased the capital base of its franchise here by Rs 455 crore to fund growth plans.
New Delhi, March 18: State-owned Oil and Natural Gas Corp (ONGC) plans to invest over Rs 33,065 crore next fiscal in exploration and production of oil and gas, a 5 per cent increase over capital expenditure in 2011-12.
