Free Press Journal
  • coal mine

    ‘Doubling clean energy cess on coal may hike power tariff’

    New Delhi: Government’s proposal to double the clean-energy cess on coal may lead to increase in power tariff for consumers, with state-run behemoth Coal India Ltd itself anticipating an impact of Rs 5,000 crore. The cess is presently levied on coal, peat and lignite to finance and promote clean energy initiatives and fund research in this area. “In indirect taxes, I propose to increase the Clean Energy Cess from 100 to 200 per metric tonne

  • R K Pachauri

    R K Pachauri’s resignation from PM’s climate panel accepted

    New Delhi: Prime Minister Narendra Modi Saturday accepted the resignation of noted environmentalist R.K. Pachauri from the PM’s Council on Climate Change. Earlier on 26th February, the court granted bail to the TERI chief R K Pachauri in sexual assault case. The Energy and Resources Institute (TERI) director general R K Pachauri, accused of sexually harassing a 29-year-old woman employee, has been admitted to a hospital. Pachauri had quit as chair of the U.N. panel of climate scientists

  • Jaitley postpones fiscal deficit control target deadline by a year

    New Delhi: Finance Minister Arun Jaitley Saturday extended the target deadline for controlling fiscal deficit to three percent reasoning that insistence on a pre-set timetable to contain the deficit would harm growth prospects.

  • Defence allocation increased by 9.87 per cent  

    New Delhi: The government on Saturday increased the defence budget by 9.87 per cent to Rs 2.46 lakh crore for the next fiscal as compared to the revised estimates of Rs 2.22 lakh crore for 2014-15 as it pushes its ‘Make in India’ initiative to curtail over-dependence on imports.

  • Bullion cos welcome gold scheme, unhappy over duty status quo

    Mumbai:  Gems and jewellery players today said the gold monetisation scheme announced in the Union Budget will increase the supply and help in reducing imports of the precious metal.  The industry players, however, expressed disappointment over no reduction in customs duty on the metal.   “We are very happy with the proposal of gold monetisation scheme. This is similar to the ‘Rastra Swarna Nivesh’ scheme we had proposed last year. This will increase the

  • Health Insurance

    Workers may get to opt between EPF&NPS; ESI & health insurance       

    New Delhi: Formal sector workers may soon have an option to choose between EPF scheme run by retirement fund body EPFO and the New Pension Scheme (NPS) as also between and health insurance products and Employees State Insurance Corporation’s (ESIC) health cover, reports PTI.

  • Imported mobile,tablets price may go up, local producers gain

     New Delhi:  In a move to boost local manufacturing of mobile phones and tablets, the government today increased duty benefits for domestic producers of these electronic items. Excise duty structure for mobiles handsets, including cellular phones, is being changed to 1 per cent without CENVAT credit or 12.5 per cent with CENVAT credit, Finance Minister Arun Jaitley said while presenting the Budget in Parliament.  Earlier the duty structure for mobiles was 6 per cent

  • Smoking, eating out, air travel to be costlier

    New Delhi : Smoking and consumption of other tobacco items will be more expensive, while an increase in service tax rate would make costlier a whole lot of other activities including air travel, eating out and paying bills, Continuing the trend set by his many predecessors, Finance Minister Arun Jaitley today came down heavily on smokers and tobacco consumers with a steep increase in excise rate in tax proposals in Budget 2015-16.

  • Bullion cos hail gold scheme, upset over duty status quo

    New Delhi: Gems and jewellery players today said the gold monetisation scheme annunced in the Union Budget will increase the supply and help in reducing imports of the precious metal.

  • Heavy security in Jammu ahead of Mufti swearing-in

    Jammu: A multi-tier security cover has been put in place in the city for the swearing-in tomorrow of the Mufti Mohammed Sayeed-led BJP-PDP government with the ceremony to be attended by Prime Minister Narendra Modi. “Massive security arrangement has been made in and around Jammu city for the swearing-in ceremony and Prime Minister’s visit tomorrow,” said Senior Superintendent of Police (SSP), Uttam Chand.

  • Iraq bomb

    Bombings kill 19 people in Iraq

    Baghdad: A series of car bombs today ripped through a crowded marketplace and Shiite militia’s checkpoint, killing a total of 19 people in separate attacks north of the Iraqi capital Baghdad, officials said. Police said the first attack took place this morning when a car bomb exploded near a busy market in the town of Balad Ruz. Minutes later, a second car bomb went off, targeting people who gathered to inspect the site of the

  • AirAsia QZ 8501

    AirAsia crash: Indonesia officially ends search operations

    Jakarta: An Indonesian official Saturday said the search operation for bodies and wreckage of the AirAsia flight QZ8501 has officially come to an end.  AirAsia QZ 8501 crashed in the Karimata Strait enroute from Indonesia’s Surabaya city to Singapore December 28 last year, killing all 162 people onboard.  The search team has retrieved 103 bodies of passengers and crew with some of the bodies found in waters about 1,000 km away from

  • India FY16 GDP growth pegged at 8-8.5%, FY15-end inflation 5%

     New Delhi: The Union Budget today pegged India’s nominal gross domestic product growth at 11.5% for 2015-16 (Apr-Mar), unchanged from the current fiscal. Real GDP growth for 2015-16 has been estimated at 8.0-8.5%, as against the current year’s estimate of 7.4%. Presenting the full Budget in Parliament today, Finance Minister Arun Jaitley said, “Growth (in real terms) in 2015-16 is expected to be between 8.0-8.5%. Aiming for a double-digit rate seems feasible very

  • Union budget: Air travel becomes costly, AI to get Rs 2500 cr     

    New Delhi: First and business class air travellers would find flying costlier from the next fiscal with an almost 2 per cent hike in service tax rate proposed in the general budget, which also earmarked Rs 2,500 crore for ailing Air India in 2015-16. Union Finance Minister Arun Jaitley today announced hike in service tax from 12.36 per cent to 14 per cent for travel by air in first and business class in

  • India Inc cheers corporate tax cut, wealth tax abolition

    New Delhi: India Inc today cheered the road map for lowering corporate taxation, abolition of wealth tax and steps to check black money menace, while calling the Union Budget a “visionary” document. “I think it is a balanced budget. I feel the Finance Minister has tried to simplify a lot of things like laying a road map for corporate taxation. He has also taken wealth tax off the table. So, I think the

  • Google

    Google scraps ban on sexually explicit content on Blogger

    Washington : Google has changed its decision to ban sexually explicit content on Blogger as it might have a negative impact on users who post such images to express their identities, said a post on the company’s product forums by Social Product Support Manager Jessica Pelegio. According to the Verge, the company earlier banned porn and other sexually explicit images from its blogging platform and had given users a time period of 30

  • Google, Glass Campus

    Google planning to set up ‘glass campus’ in Mountain View

    Washington: Google is reportedly planning to submit a proposal seeking to set up a new campus in Mountain View next month. According to the Verge, the company worked with Danish architect Bjarke Ingels from the Bjarke Ingels Group and Thomas Heatherwick of Heatherwick Studio to build a series of city block-sized “canopies” — glass greenhouse-style buildings. It is reported that the canopies are similar to a piece of glass fabric. The company is opting for

  • Budget Analysis: Non-adversarial tax regime?

    New Delhi: The first full-fledged budget of the NDA government has only partially addressed foreign investor concerns regarding a non-adversarial and conducive tax environment. Exorcising the specter of retrospective taxation — that targeted companies like Vodafone – was eagerly awaited in this budget by many foreign investors. Investor sentiment took a serious beating when tax authorities were given powers to reopen tax cases going back to 1962 enacted by the previous UPA government.

  • Youtube

    Banned Youtube accessibility in some parts of Pak put down to technical glitch

    Karachi : Pakistan’s Minister of State for Information Technology Anusha Rehman has said that the accessibility of Youtube in some regions of the country was due to a technical glitch which will soon be fixed. According to Dawn News, senior official in the Pakistan Telecommunication Authority (PTA) believes that YouTube became accessible through certain Internet Service Providers (ISPs) due to a technical fault. The minister said that the news of unblocking will be