FinMin asks depts to avoid spending rush in Jan-March quarter
To avoid rush of expenditure in the last quarter of the fiscal, the Finance Ministry has asked all government departments to cap spending in January-March quarter at 33 per cent of the total funds allocated for the full financial year.In a communication, Expenditure Secretary Ratan Watal has said that departments should "strictly" adhere to the Revised Estimates (RE) ceilings for the current fiscal.
PC Jeweller plans Rs 1,500-cr investment, 200 new outlets
As part of its retail expansion strategy, country's leading jewellery brand PC Jeweller plans to invest Rs1,500 crore and launch 200 new outlets by 2019. Out of the 200 new outlets, 100 will be company-owned and others based on the franchise model."We plan to open 100 company-owned outlets and we will open 100 franchised outlets in tier III and tier IV towns by 2019. We will invest about Rs 1,500 crore for our expansion," said PC Jeweller Managing Director Balram Garg .
AI, IndiGo flyers worst hit by flight delays in Jan: DGCA
Passengers of Air India and no-frill carrier IndiGo, which has best on-time performance record among the domestic airliners, were most affected due to delays of flights by over two hours in January, according to the DGCA data.
The number of Air India passengers affected due to flight delays beyond two hours stood at 96,232 in January while of IndiGo was 75,034, the monthly domestic air traffic report released by Directorate General of Civil Aviation (DGCA) said.Also, as many as 11,666 passengers of private carriers Jet Airways and its subsidiary Jetlite were also affected after their flights were reported late by more than two hours.
Blackmoney: I-T dept to file 100 more complaints in court
The Income Tax department is set to launch over 100 fresh prosecution complaints for "wilful" evasion of taxes against those entities and individuals whose names have figured in the HSBC, Geneva black money bank accounts list.The department, according to sources, is also expected to collect an additional revenue to the tune of Rs3,200 crore after completing final assessments and prosecutions of these cases, as taxes and penalties.
Officials said the taxman will file prosecution complaints, which meanspressing of tax evasion charges against the guilty in a court at the end of investigations, under Section 276C(1) of I-T Act (wilful attempt to evade tax, penalty or interest chargeable) and Section 276D (failure to produce accounts and documents).
NSE to auction government bonds worth Rs 617 cr today
leading bourse National Stock Exchange will auction today government debt securities worth Rs 617 crore for overseas investors, whose total investment has crossed 99 per cent of the permitted limit.The auction would be conducted for overseas investors at 'NSE-ebid' platform for government debt securities, the exchange said in a circular.The total overseas investments in government debt securities through auction route has touched Rs1,23,815 crore till February 18, which is 99.5 per cent of total permitted limit of Rs1,24,432 crore.