Finance ministry
New-Delhi- The inability of the National Highways Authority of India (NHAI) to completely use the revenue generated through the tax-free bonds in the previous fiscal has created a lot of tension at the finance ministry as they have expressed their concern. Due to the project awards being stuck, the agencies on the highways are compelled to keep Rs. [...] Continue Reading »
Bangalore- Good news to builders and developers whose projects have been kept on hold due to liquidity crisis. The finance ministry has planned to initiate a measure which is expected to improve the realty sector. Banks will be allowed to permit funds to stalled projects, which would revive the growth in economy. As per RBI‘s [...] Continue Reading »
Delhi- The government has strictly warned all taxpayers to disclose their true income and those who fails would be receiving notices from the Income Tax Department. Since the tax collected was very less in April-November, it asked taxpayers to file correct returns by December 15, when the third instalment of advance tax is due. The [...] Continue Reading »
New Delhi-Recent reports suggest that the public sector banks were quite benefited by the home loan takers as the lower interest rates have resulted in regular monthly payment causing very less defaulters. The outstandings in the first 6 months were almost 96% of 2011-12 and more in 2010-11. Also, the non-performing assets (NPAs) have declined in all home loan [...] Continue Reading »
Union finance minister P Chidambaram has stated that the ministry may soon announce a set of measures to boost the country’s real estate sector. As the realty sector is being hit by the high cost of finance and low availability of housing stock, incentives seem to be in the horizon. The finance ministry is in [...] Continue Reading »
The government is all set to bring in a package to boost real estate activity by easing lending and provisioning norms for banks. The finance ministry is set to work out a strategy to boost the sector as developers expressed their inability to cut prices to increase demand. The ministry has been in talks with [...] Continue Reading »
Union secretary for financial services D K Mittal has reportedly asked the Confederation of Real Estate Developers Association of India (Credai) to conduct a survey of unsold housing stock across the country. The initiative was taken at a meeting which was attended by representatives of both banking industry and developers. The step comes in the [...] Continue Reading »
The finance ministry is to meet chief executives of leading banks to discuss credit flow to the real estate and housing sectors. D K Mittal, secretary of financial services, will chair the meeting of bankers, which will record stock of credit flow to the sensitive sectors. A committee of bankers had been set up to [...] Continue Reading »
Home loans are to become cheaper in near future. While some banks have already slashed their interest rates while others are planning to do the same. The finance ministry has already asked bankers to reduce equated monthly installment (EMIs) on home loans. State-owned Central Bank of India has decided to reduce home loans by 10 [...] Continue Reading »
The money transfers to India by NRIs will not come under the realm of service tax as said by Prime Minister Manmohan Singh. Kerala chief minister, Oommen Chandy, said that the Prime Minister has dismissed all the reports related to levy of tax on the money of Indians working abroad. The Prime Minister asked for [...] Continue Reading »
