Sufficient food grain buffer stock and optimism for a healthy kharif harvest are likely to alleviate price pressures, a recent report by finance ministry said.
Furthermore, during the past 5 months (April-August) of the current financial year 2024-25, the transaction volume has reached to 8,659 crore, it added.
The new rules aim to further promote ease of investment, the ministry said.
The CAG also asked the ministry to verify from other sources, including third parties, their declared value of sales to check tax evasion.
This will facilitate the global expansion of Indian companies through mergers, acquisitions, and other strategic initiatives, enabling them to reach new markets and grow their presence worldwide, said a Finance Ministry statement.
The Finance Ministry has said over 8.75 lakh Hindu Undivided Families (HUFs) have filed Income Tax Returns (ITRs) and claimed deductions worth Rs 3,803 crore during 2022-23.
The Finance Ministry on Friday evening clarified that the securities transaction tax (STT) on options trading has been hiked by 25 per cent from 0.05 per cent to 0.0625 per cent, and not from 0.017 per cent to 0.021 per cent, saying that it was a typographical error and the rectification will be done in accordance with the extent procedure of the government.
'During the course of the survey, the (Income Tax) Department gathered several (pieces of) evidence indicating that tax has not been paid on certain remittances which have not been disclosed as income in India by the foreign entities of the group,'' the Finance Ministry said without directly naming the BBC.
Global spillovers may dampen India's export businesses outlook, however, resilient domestic demand and a rejuvenated investment cycle as well as a strong financial system will push economic growth, as per the monthly economic outlook review for October released by the Finance Ministry on Thursday.
The Centre has hiked interest rate for senior citizen savings scheme by 20 basis points from 7.4 per cent to 7.6 per cent, according to a Finance Ministry notification.
