Finance  

Just after finance minister Nirmala Sitharaman announced a slew of measures to revive the economy, the Sensex zoomed over 1300 points. The government has slashed corporate tax to 25.17 per cent inclusive of all cess and surcharges for domestic companies.
 

The Union finance ministry has decided to slash corporate taxes to 22% 

According to ministry of finance, open cell television panels (15.6 inch and above) for use in the manufacture of Liquid Crystal Display (LCD) and Light Emitting Diode (LED) TVs would attract nil duty

 

Top gainers in the Sensex pack in early trade included Bajaj Finance, Reliance Industries, SBI, Yes Bank, Axis Bank, Kotak Bank, Tata Steel, Vedanta, Asian Paints, Bharti Airtel, HCL Tech, HDFC and TCS, rising up to 2.10%.
 

Nirmala Sitharaman said that inflation is under control and there is a clear sign of revival of industrial production. The finance minister also said that inflation in the range of 2.5 to 4% is considered safe and it has been held under 4%. Senior Congress leader Anand Sharma said BJP and its ministers lack vision to revive the economy.              
 

Addressing a press conference here, finance minister Nirmala Sitharaman also announced that fully electronic refund module for a quick and automated refund of input tax credits will be implemented by end of this month
 

Congress MPs Veerappa Moily, Shashi Tharoor who headed the standing committees on finance and external affairs have been replaced by BJP MPs.Standing committees are allocated by Lok Sabha Speaker and Rajya Sabha Chairman on the recommendation of the government.

The Enforcement Directorate has said that former finance minister P Chidambaram need not  be arrested in the money laundering case. Chidambaram is currently lodged in Tihar jail for the INX media case.

As finance minister Nirmala Sitharaman blames ‘millennial mindset’ for the slump in car sales, industry experts like TV Mohandas Pai have batted in her support. However, he added that liquidity freeze of NBFCs is to be blamed for the dip 

Indiabulls Housing shares ended 5% lower, due to reports of a PIL filed against the company, which it termed was done with “malicious intent and vested interests” to upset the stock price of the company
 

Responding to a question by Anurag Thakur on the reasons behind the slowdown in the auto sector, a participant at the ACMA event retorted to say that it was the “effect of demonetisation”.
 

Former finance minister P Chidambaram spent his first night in Tihar jail cell on Thursday. A Delhi court has sent him to two-week judicial custody in the INX Media case. Nephew of Kamal Nath, Ratul Puri is also lodged in the Tihar jail for the AgustaWestland case. 

Minister of state for Finance & Corporate Affairs, Anurag Thakur has blamed former Prime Minister Manmohan Singh and former finance minister P Chidambaram for the economic slowdown that India is facing.

The Indian economy has been hit hard with drop in GDP growth due to sluggishness in private consumption, and this could be explained by a number of factors including a possible income slowdown and cost increases, amid other challenges in the automobile sector, slowing activity in real estate, and an overall dent to consumer sentiment

Deep Dive with Abhinav Khare unravels the INX Media case, which involves the grant of clearance for Rs 300 crore of foreign investment by the Foreign Investment Promotion Board (FIPB) in 2007 when P Chidambaram was the finance minister