Others - Corporate Law Reporter

Eligibility Conditions of Life Insurance Policies for Persons Suffering from Disabilities and Certain Ailments Relaxed

The Finance Bill 2013 proposes relaxation in the eligibility conditions of Life Insurance Policies for persons suffering from disability or certain ailment. Presenting the Union Budget in the Lok Sabha today, the Finance Minister Shri P.Chidambaram proposed that the permissible premium rate is being increased from 10 per cent to 15 percent of the sum… Read More

Commodities Transaction Tax Introduced in a Limited Way

Commodities Transaction Tax (CTT) Introduced in a Limited Way; Agricultural Commodities will be Exempt The Finance Bill 2013 proposes to introduce Commodities Transaction Tax(CTT) in a limited way. Presenting the Union Budget in the Lok Sabha today, the Finance Minister Shri P.Chidambaram said that CTT shall be levied on non-agricultural commodities future contracts at the… Read More

15 % Investment Allowance Provided on Investment of More than 100 Crores in Plant and Machinery

Concessional Rate of Tax of 15 Percent on Dividend Received from its Foreign Subsidiary by a Company Continued for One More Year The Finance Bill 2013-14 proposes an investment allowance at the rate of 15 per cent to a manufacturing company that invests more than Rs.100 crore in plant and machinery during the period 1.4.2013-31.3.2015.… Read More

Rajiv Gandhi Equity Savings Scheme Liberalised

The Finance Bill 2013-14 proposes liberalisation of the Rajiv Gandhi Equity Savings Scheme(RGESS) that was launched in FY 2012-13. The first time investors will now be allowed to invest in mutual funds as well as listed shares. This investment can be done not in one year alone, but in three successive years. Presenting the Union… Read More

Government takes Measures to Rationalise Expenditure

The Union Finance Minister Shri P Chidambaram called the policy decisions of the Central Government to correct some prices and review of certain tax policies as a dose of bitter medicine. Presenting the General Budget 2013-14 in Lok Sabha today, Shri Chidambaram said, faced with a huge fiscal deficit, the Government had no choice but… Read More

Foreign Investment to be Encouraged to Tide over Current Account Deficit

The Current Account Deficit (CAD) of India continues to be high mainly because of our excessive dependence on oil imports, the high volume of coal imports, our passion for gold, and the slow down in exports. This year, and perhaps next year too, we have to find over USD 75 billion to finance the CAD.… Read More

Matching Equity Grants to Registered Farmer Producer Organisations Proposed

In the budget for 2013-14, the Finance Minister has proposed a matching equity grants to registered Farmer Producer Organisations (FPOs) upto a maximum of Rs. 10 lakh per FPO to enable them to leverage working capital from financial institutions. For this purpose, an outlay of Rs. 50 crore has been kept. Besides, a Credit Guarantee… Read More

Government introduces Investment Allowance of 15% for High Value Investments Incentives for Semiconductor Wafer Fab Manufacturing

Government to Introduce Investment Allowance of 15 per cent for High Value Investments Incentives for Semiconductor Wafer Fab Manufacturing The Finance Minister, Shri P Chidambaram in his Budget speech in Lok Sabha today said that to attract new investment and to quicken the implementation of projects, I propose to introduce an investment allowance for new… Read More

Centre Incentivises Saving for Household Sector

The Finance Minister, Shri P Chidambaram in his Budget speech in Lok Sabha today said that increasing savings and their optimal allocation for productive uses lead to higher economic growth. After touching a high of 36.8 percent in 2007-08, gross domestic saving fell by 6 percentage points in 2011-12. The private sector, comprising households and… Read More

A PPP Policy Framework with Coal India to be Devised to Increase Coal Production

The Finance Minister, P Chidambaram in his Budget speech in Lok Sasbha today said that In the medium to long term, we must reduce our dependence on imported coal. One of the ways forward is to devise a PPP policy framework, with coal India Limited as one of the partners, in order to increase the… Read More

A regulatory Authority to Remove Bottlenecks in Road Sector to be Constituted

The Finance Minister Finance, Shri P Chidambaram said in his Budget speech in Lok Sabha today that the road construction sector has reached a certain level of maturity. But it faces challenges not envisaged earlier, including financial stress, enhanced construction risk and contract management issues, that are best addressed by an independent authority. Hence, Government… Read More

Doing Business in India to be Made Easy and Mutually Beneficial

Doing Business in India to be Made Easy and Mutually Beneficial 12th Plan Projects Investment of Rs 55,00,000 Crore in Infrastructure While presenting the Budget for 2013-14 , the Finance Minister , Shri P. Chidambaram Said that the growth rate of an economy is correlated with the investment rate. The key to restart the growth… Read More

Amendment in Juvenile Justice Act

In a meeting held by the Ministry of Home Affairs with Chief Secretaries of the State Governments and Director Generals of Police on 4.1.2013, a suggestion was made regarding lowering of the age of juveniles. However, the Committee on Amendments to Criminal Law under the Chairmanship of Justice J.S. Verma (Retd.), in its recommendations submitted on 23.1.2013,… Read More