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Govt exempts capital gains tax on FIIs' govt bond investments
With an aim to attract foreign capital, the government on Friday promulgated an ordinance to exempt capital gains tax on investments made by Foreign Institutional Investors in government securities, according to a PTI report. The move is aimed at making Indian debt markets more attractive to overseas investors while helping shield the economy from the effects of the continuing Iran conflict. The Union Cabinet, chaired by Prime Minister Narendra Modi, approved an ordinance on Wednesday to...
G-Secs rally as govt and RBI ease foreign investing rules
Bonds rallied after govt and RBI announced measures to encourage foreign investment in govt securities on Friday. The yields on benchmark 10-year govt securities (G-Secs) softened to 6.94% in early trades, from 6.99% on Thursday, after the govt said foreign portfolio investors (FPIs) would be exempted from long-term capital gains and withholding taxes on interest from G-Secs. Prices of bonds and their yields move in opposite directions.
From tax waivers to free hedges, RBI & govt join hands to boost Rupee
In a coordinated move, govt and RBI Friday rolled out a clutch of measures aimed at attracting foreign portfolio investors and non-resident funds to govt bonds and bank deposits. The strategy is as much about sentiment as it is about flows: signalling openness, easing friction, and offering a small subsidy from RBI in the form of free insurance cover to banks against rupee depreciation. As a result, the rupee gained by 84 paise to close at 94.95 compared with Thursday's close of 95.79 - its...
SC asks Tamil Nadu govt to act against forest encroachments, fine 118 babus for
Seeking to protect the biodiversity hotspot in Agasthyamalai landscape from depredation through illegal settlements, Supreme Court has ordered Tamil Nadu govt to prepare within a month a comprehensive time-bound action plan to evict thousands of encroachers, some of whom have been settled there for decades. Warning that failure to ensure compliance would invite administrative accountability at the highest level, the bench also asked TN govt to initiate disciplinary and legal action against...
How English-to-Hindi shift in many govt schools has Delhi parents, kids in a fix
Students of several govt schools in northeast and east Delhi are allegedly grappling with the discontinuation of English-medium teaching in Class XI. The students are faced with the choice of either switching to Hindi-medium classes or changing schools as English-medium teaching is either being discontinued or those classes are being merged with Hindi-medium. Parents, teachers and students say the move is affecting academic performance, confidence and communication skills, with some now...
Dozens of Afghan men protest govt crackdown on women, police accused of ‘firing shots’
Dozens of Afghan men protest govt crackdown on women, police accused of ‘firing shots’ Dozens of men on Tuesday took to the streets of the western Afghan city of Herat to protest the multiple arrests of women in recent days. The women were detained by the morality police for not properly adhering to the Taliban-ordered dress code, which requires them to fully cover themselves when in public. According to several protesters, security forces used sticks and whips to disperse them, and “even...
CBSE chief and secretary booted over OSM row, govt panel to probe procurement
The Centre on Tuesday removed CBSE chairperson Rahul Singh and secretary Himanshu Gupta from their posts with immediate effect and ordered a one-member inquiry into the procurement of the digital evaluation (on-screen marking) system. The appointments committee of Cabinet approved the appointment of Lokhande Prashant Sitaram, additional secretary in the ministry of home affairs, as the new CBSE chairperson in place of Singh, who has been shifted as additional secretary in the department of...
'5 buildings, 13 plots, mountain of cash': Rs 6k-salaried govt engineer's empire under scanner
Vigilance sleuths on Saturday detected five multi-storeyed buildings, 13 high-value plots, 341gm gold, Rs 45 lakh deposits and Rs 2.04 crore in cash from the assistant executive engineer of Integrated Tribal Development Agency (ITDA), Baliguda, in Kandhamal district. Sources said the properties of Baikuntha Nath Behera, 52, are likely to increase, as the anti-corruption agency continued the search for his ill-gotten properties at nine different places. During the search, they found four...
Outcry over judicial missteps linked to missing girl prompts French govt reckoning
French Prime Minister Sebastien Lecornu summoned the interior minister, the justice minister and others on Friday over the case of a missing 11-year-old girl that has sparked an outcry over judicial missteps and missed opportunities to intervene, the government said. Lyhanna, currently identified only by her first name, was reported missing in her small southern French town of Fleurance on May 29 after she left her middle school in the afternoon. The suspect arrested in the case, the...
Affordable housing now crosses Rs 45 lakh — but govt limit stays unchanged
What was once “affordable” is now harder to find. India’s urban population is running out of affordable homes, and the numbers are getting harder to ignore. India’s urban affordable housing shortage continues to widen, with the deficit currently estimated at 9.4 million units and projected to rise to 30 million by 2030, according to Anarock.