Liberalisation
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Day After Budget 2024, M Kharge Recalls "Groundbreaking" 1991 Budget
Congress president Mallikarjun Kharge on Wednesday said his party takes immense pride in the groundbreaking achievement of the Liberalisation Budget of 1991 and asserted that there is a pressing need once again for meaningful budget.
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Centre Won't Liberalise Foreign Direct Investment In Tobacco Sector: Minister
The central government is not inclined to liberalize Foreign Direct Investment (FDI) in the tobacco sector, Union Commerce Minister Piyush Goyal said on Tuesday.
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Centre's Big Praise For Former PM Manmohan Singh In Supreme Court
The BJP-led central government commended former prime minister PV Narasimha Rao and his then finance minister, Manmohan Singh, for their pivotal roles in initiating economic liberalisation and opening up the Indian economy in 1991.
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Opinion: A Long Due Bharat Ratna - Narasimha Rao I Met Three Decades Ago
Rao remains one of the most underestimated Prime Ministers in Indian history. Despite widespread scepticism, he boldly pursued economic liberalisation, dismantling bureaucratic impediments and initiating reforms to attract foreign investment.
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There Was A Time When 1 Dollar Was Less Than Rs 5: Know History
The liberalisation of 1991 proved to be a crucial turning point in India's economic history and significantly impacted the rupee-dollar exchange rate.
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Explained: Why Credit Card Spends Overseas Won't Be Taxed At Source
While credit card spends overseas will not attract tax collected at source now as such transactions have been kept outside the liberalised remittance scheme, any international transaction conducted from India will attract the levy.
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Tax Hike On international Transactions (TCS) Pushed Back To October 1
The government on Wednesday said overseas spending using international credit cards will not be included under the Liberalised Remittance Scheme (LRS) and hence, would not attract TCS.
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Ministry's Clarification On Tax On Overseas Spending Through Credit Cards
The government on Friday said no TCS will be levied on international spending of up to Rs 7 lakh a year by using debit or credit cards.
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Here's What Experts Say About Changes Made In LRS For Credit Cards
Tax Collected at Source (TCS) for spending through international credit cards under RBI's Liberalised Remittance Scheme on overseas tour packages and any other remittance (such as for bonds, shares, and real estate gifts) will be exempted within the annual limits of USD 250,000, the government clarified on Thursday.
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Explained: Finance Ministry's FAQs On Remittance Scheme
The Finance Ministry has published an FAQ on its announcement that international credit card payments will come under the RBI's liberalised remittance scheme, or LRS.
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Credit Card Spend In Forex To Come Under RBI's Remittance Scheme
Spending in foreign exchange through international credit cards will be covered under the RBI's liberalised remittance scheme (LRS), under which a resident can remit money abroad up to a maximum of USD 2.50 lakh per annum without the authorisation of the Reserve Bank.
-
Credit Card Payments For Foreign Tours To Be Brought Under RBI's Liberalised Remittance Scheme
Credit card payments for foreign travel will be brought under the purview of the Liberalised Remittance Scheme (LRS) of the Reserve Bank, to ensure that such expenses do not escape TCS (Tax Collection at Source).
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Apple, Foxconn Efforts Lead to Labour Reforms Ahead of Plans to Ramp Up Production in India: Report
Apple and Foxconn, a major supplier for the Cupertino company, successfully lobbied for liberalisation of labour laws in Karnataka earlier in March, according to a report. Lobbying by Apple and Foxconn led to laws that allow 12-hour shifts and night-time work for women in the state.
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Committee May Suggest Complete Liberalisation Of Natural Gas Pricing By 2026: Report
A committee formed by the Indian government plans to recommend a complete liberalisation of natural gas pricing by Jan 1, 2026,
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Centre Undertakes Series of Reform Measures to Make India Global Drone Hub by 2030, MoS Civil Aviation Says
The government has taken various steps to make India a global drone hub by 2030, Minister of State for Civil Aviation VK Singh told the Rajya Sabha on Monday. The Centre has notified the Liberalised Drone Rules, 2021, and a PLI scheme for drones, published the Drone Airspace Map and UAS traffic management policy framework last year, among other mea...
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Day After Budget 2024, M Kharge Recalls "Groundbreaking" 1991 Budget
Congress president Mallikarjun Kharge on Wednesday said his party takes immense pride in the groundbreaking achievement of the Liberalisation Budget of 1991 and asserted that there is a pressing need once again for meaningful budget.
-
Centre Won't Liberalise Foreign Direct Investment In Tobacco Sector: Minister
The central government is not inclined to liberalize Foreign Direct Investment (FDI) in the tobacco sector, Union Commerce Minister Piyush Goyal said on Tuesday.
-
Centre's Big Praise For Former PM Manmohan Singh In Supreme Court
The BJP-led central government commended former prime minister PV Narasimha Rao and his then finance minister, Manmohan Singh, for their pivotal roles in initiating economic liberalisation and opening up the Indian economy in 1991.
-
Opinion: A Long Due Bharat Ratna - Narasimha Rao I Met Three Decades Ago
Rao remains one of the most underestimated Prime Ministers in Indian history. Despite widespread scepticism, he boldly pursued economic liberalisation, dismantling bureaucratic impediments and initiating reforms to attract foreign investment.
-
There Was A Time When 1 Dollar Was Less Than Rs 5: Know History
The liberalisation of 1991 proved to be a crucial turning point in India's economic history and significantly impacted the rupee-dollar exchange rate.
-
Explained: Why Credit Card Spends Overseas Won't Be Taxed At Source
While credit card spends overseas will not attract tax collected at source now as such transactions have been kept outside the liberalised remittance scheme, any international transaction conducted from India will attract the levy.
-
Tax Hike On international Transactions (TCS) Pushed Back To October 1
The government on Wednesday said overseas spending using international credit cards will not be included under the Liberalised Remittance Scheme (LRS) and hence, would not attract TCS.
-
Ministry's Clarification On Tax On Overseas Spending Through Credit Cards
The government on Friday said no TCS will be levied on international spending of up to Rs 7 lakh a year by using debit or credit cards.
-
Here's What Experts Say About Changes Made In LRS For Credit Cards
Tax Collected at Source (TCS) for spending through international credit cards under RBI's Liberalised Remittance Scheme on overseas tour packages and any other remittance (such as for bonds, shares, and real estate gifts) will be exempted within the annual limits of USD 250,000, the government clarified on Thursday.
-
Explained: Finance Ministry's FAQs On Remittance Scheme
The Finance Ministry has published an FAQ on its announcement that international credit card payments will come under the RBI's liberalised remittance scheme, or LRS.
-
Credit Card Spend In Forex To Come Under RBI's Remittance Scheme
Spending in foreign exchange through international credit cards will be covered under the RBI's liberalised remittance scheme (LRS), under which a resident can remit money abroad up to a maximum of USD 2.50 lakh per annum without the authorisation of the Reserve Bank.
-
Credit Card Payments For Foreign Tours To Be Brought Under RBI's Liberalised Remittance Scheme
Credit card payments for foreign travel will be brought under the purview of the Liberalised Remittance Scheme (LRS) of the Reserve Bank, to ensure that such expenses do not escape TCS (Tax Collection at Source).
-
Apple, Foxconn Efforts Lead to Labour Reforms Ahead of Plans to Ramp Up Production in India: Report
Apple and Foxconn, a major supplier for the Cupertino company, successfully lobbied for liberalisation of labour laws in Karnataka earlier in March, according to a report. Lobbying by Apple and Foxconn led to laws that allow 12-hour shifts and night-time work for women in the state.
-
Committee May Suggest Complete Liberalisation Of Natural Gas Pricing By 2026: Report
A committee formed by the Indian government plans to recommend a complete liberalisation of natural gas pricing by Jan 1, 2026,
-
Centre Undertakes Series of Reform Measures to Make India Global Drone Hub by 2030, MoS Civil Aviation Says
The government has taken various steps to make India a global drone hub by 2030, Minister of State for Civil Aviation VK Singh told the Rajya Sabha on Monday. The Centre has notified the Liberalised Drone Rules, 2021, and a PLI scheme for drones, published the Drone Airspace Map and UAS traffic management policy framework last year, among other mea...
