India’s Rules Tilt In NRIs’ Favour On Property Investments

first_imgThe quantum of NRI investments into Indian properties rises significantly during festive periods. For instance, the period between December 15 to January 31 is usually holiday time in most western countries. Several companies in these countries give their employees a vacation during this period.Read it at Gulf News Related Itemslast_img

Reserve Bank of India Issues Advisory After Bitcoin Value Surge

first_imgThe Reserve Bank of India (RBI) has cautioned users, holders, and traders of virtual currencies (VCs), including Bitcoins, regarding the various risks associated with such dealings. The RBI through an advisory issued earlier this week informed people of the potential economic, financial, operational, legal, customer protection, and security related risks associated in dealing with such VCs.In light of the recent boom in the value of Bitcoin, which was valued at as high as $16,675.01 on Dec. 8, critics have said that the hike in value is a bubble that could burst any moment. The 52-week range in value of Bitcoin has been $752.8023 to $19,230.7695.RBI has also clarified that it has not given any license/ authorization to any entity/company to operate such schemes or deal with Bitcoin or any VC. In the wake of significant spurt in the valuation of many VCs and rapid growth in Initial Coin Offerings (ICOs), RBI reiterates the concerns conveyed in the earlier press releases in 2013 and February 2017, it said.The RBI said that those who deal in it are doing so “at their own risk” in February. The advisory in 2013 said that the central bank is “looking at the developments relating to certain electronic records claimed to be “Decentralised Digital Currency” or “Virtual Currency” (VCs), such as, Bitcoins, litecoins, bbqcoins, dogecoins etc., their usage or trading in the country and the various media reports in this regard.”The bank said that it was not authorized by any central bank or monetary authority.According to Bitcoin’s website, the price of a bitcoin can unpredictably increase or decrease over a short period of time due to its young economy, novel nature, and sometimes illiquid markets. It says that the virtual currency is not an official currency and organizations need to follow tax and other legal or regulatory mandates issued by their government and/or local municipalities. Related ItemsBitcoinCurrencyReserve Bank of Indialast_img read more

Rajasthan budget to be presented on July 10

first_imgRajasthan Chief Minister Ashok Gehlot will present the 2019-2020 budget on July 10 in the Assembly. The date was decided by the Business Advisory Committee at its meeting convened in the Assembly on Thursday, the opening day of the budget session. Mr. Gehlot also holds the Finance portfolio.The second session of the 15th State Assembly started with the members paying tributes to Rajasthan BJP president and Rajya Sabha MP late Madan Lal Saini, former Goa Chief Minister Manohar Parrikar and the victims of a mishap at Jasol in Barmer district last week, when a tent fell on a crowd during a religious event.CLP resolutionThe Congress Legislature Party passed a resolution expressing faith in the leadership of Rahul Gandhi and requested him to continue as the party president. In a meeting held at Mr. Gehlot’s residence before the session commenced, the CLP also resolved to counter the “smear campaign” of the Opposition against the government.Attacking the State government, leader of the Opposition Gulab Chand Kataria said: “The ruling Congress has failed to fulfil the promises made in its election manifesto. The failure of loan waiver scheme has led to suicides by farmers… One of them, Sohan Lal of Sriganganagar district, blamed Mr. Gehlot for his death in his suicide note,” he said.Assembly Speaker C.P. Joshi has given instructions for supplying all budgetary documents and annual reports of government departments in electronic form to the MLAs and making them available online to the public. The proposal was initiated by the then Independent MLA from Fatehpur, Nand Kishore Maharia, in the previous Assembly.Scribes protestJournalists covering the Assembly proceedings staged a demonstration outside Assembly Speaker C.P. Joshi’s office, demanding the withdrawal of new rules restricting their movement in the House. The new arrangement has limited journalists’ access only to the press gallery in the Assembly and the press room on the premises and curtailed their entry into the office rooms of Ministers.last_img read more

People to know soon if Sena will be in power: Uddhav

first_imgAmid the bitter tussle with senior ally BJP over formation of government in Maharashtra, Shiv Sena president Uddhav Thackeray on Sunday said people will come to know in the coming days if his party will be in power.He also said that the ₹10,000 package announced by the Maharashtra government for crop damages suffered by farmers due to unseasonal rains was not enough.The BJP and Shiv Sena, which contested the October 21 state elections together, have been locked in a battle over sharing of the chief minister’s post and are yet to start formal talks over government formation.“You will come to know in the coming days if the Shiv Sena will be in power,” Mr. Thackeray said to a query by reporters at a press conference in the state’s Aurangabad district.He refused to further answer any political questions.He visited Aurangabad to take stock of crop losses due to the untimely rains last month.Mr. Thackeray said he interacted with farmers in Kannad and Vaijapur areas of district.“Review of damages cannot be done from helicopter,” he said, in an apparent jibe at the state leadership.“The ₹10,000 crore for crop losses due to unseasonal rains is very less,” Mr. Thackeray said.He said the affected farmers should get ₹25,000 per hectare as compensation.“More assistance should follow. Farmers should get what is their right,” he said.Mr. Thackeray also demanded that the Centre explain to people how the Regional Comprehensive Economic Partnership (RCEP) agreement will benefit the country.“What are the terms and conditions we are agreeing before signing the agreement tomorrow and how it will benefit the country. I think the issue hasn’t been discussed in Parliament,” he said.The RCEP, comprising 10-member ASEAN bloc and six other countries — India, China, Japan, South Korea, Australia and New Zealand, is engaged in negotiations for a free trade pact.Congress president Sonia Gandhi on Saturday launched a blistering attack on the government on the state of economy, saying signing the RCEP agreement will result in “untold hardship” for farmers, shopkeepers and small enterprises.However, Commerce and Industry Minister Piyush Goyal countered Gandhi’s remarks on the proposed mega free trade agreement, saying it was during the UPA regime when India joined negotiations for this pact.last_img read more