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Centre Bans 54 More Chinese Apps Security Grounds; Check Out Details

Sonia SolankiFebruary 15, 20220

The Union information technology ministry (MeitY) has banned 54 Chinese apps pertaining to data abuse and security issues. The occlusion takes place under Section 69a of the MeitY. This is not the first time that such action has been taken by the Indian Government. In the past, the government had banned many Chinese apps including some big names like TikTok, PUBG, UCBrowser, WeChat, CamScanner and many more. With the latest additions of more apps now the number of banned apps rises to 324. The new occluded apps lie in the categories of beauty, music, dating and gaming ones. The action is taken after a report by the Home Ministry which recommends the action pertaining to privacy and security issues. Details Of The Apps Which Are Occluded "These 54 apps allegedly obtains vari...

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‘Biggest Scam In Independent To Date’: Rahul Gandhi Slams BJP Over ABG Shipyard Bank Fraud; Opposition Takes A Jibe

Sonia SolankiFebruary 13, 20220

The Central Bureau of Investigation (CBI) files a case against the ABG Shipyard for conning 28 banks for the astronomical amount of Rs 22,842 crore. The ABG Shipyard Ltd is the flagship company of the ABG Group and is located in Dahej and Surat, Gujarat. The ABG Group is associated with shipbuilding and ship repair. The FIR was filed against ABG Shipyard and its then chairman Rishi Kamlesh Agarwal, executive director Santhanam Muthaswamy and directors Ashwini Kumar, Sushil Kumar and Ravi Vimal Nevetia. The case is filed under the IPC and the Prevention of Corruption Act by the CBI. FIR also mentions another company ABG International Pvt. Ltd. The complaint by the CBI includes 28 banks including popular ones like ICICI, SBI, IDBI, BOB, PNB and others. The State Bank of India fi...

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Not Allow China Utilising Our Land To Attack India: Sri Lanka Foreign Minister

Monomita NagFebruary 13, 20220

In the midst of a severe economic crisis, the foreign minister of Sri Lanka G L Peiris came for a two day visit to India. He thanked India for providing them $2.40 billion in assistance at a "critical juncture". He said that the people of Sri Lanka look at India as their true friend. However, Tamil's Concerns did not find any mention in the bilateral statements issued by both sides. It was referred to only in the statement issued by New Delhi. Sri Lanka MFA kept absolutely mum on the contentious Tamil issue. Sri Lanka And China Threat To India The former chief minister of Sri Lanka's Jaffna now a Tamil MP C. V. Wigneswaran warned India of being deceived by Sri Lanka. He said that economically, Sri Lanka is in dire strait and caught in a debt trap by China. He faulted India's...

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Delhi Tops As Start-up Capital, Pushes Bengaluru To Second: Survey

Monomita NagFebruary 13, 20220

As per the recent Economic Survey, Delhi with 5,000 registered startups has emerged as a major city replacing  Bengaluru, popularly known as the 'Silicon Valley' with only 4,500 newly registered companies. However, Karnataka policymakers are not perturbed by the loss of this rank. They are unfazed because of two factors -- Bengaluru's share of investment flow and the number of startups reaching unicorn status. Dr. C N Ashwath Narayan, Karnataka minister for electronics, information technology and biotechnology said that comparatively, Bengaluru is far ahead of Delhi-NCR on certain factors such as growth, sustainability and most importantly, the size of FDI among others. He also pointed out that Bengaluru has attracted 45% of total FDI investment in India during the first si...

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Tesla Faces Obstacles To Expand Its Market To India; Know Why Centre Refused Its Tax Cut Proposal?

Snehashish RoyFebruary 8, 20220

The US-based electric vehicle manufacturer, Tesla Inc., has been recently turned down by the Indian government on a proposal demanding a tax cut for importing manufactured cars into the country. The proposal was rejected under the pretext of a non-coherent plan by the EV manufacturer. Tesla Inc. tabled the proposal to deduct import tax on fully assembled cars that the company will export into the country. It has no immediate plans to set up a manufacturing unit in India. While the move may not be environment-sensitive, there are certain reasons why the government decided to discard Tesla's proposal. Unfavourable Move Tesla's proposal to implement duty cuts came with no detail on establishing its manufacturing units in India. However, it detailed that the construction of domestic ...

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Center Rejects Tesla’s Request To Relax Import Tax Regime; Read To Know More!

Pooja YadavFebruary 8, 20220

The Centre has rejected Elon Musk's claims on the "challenges" that the billionaire said his company Tesla is facing while working with the Indian government to urge its cars to be launched within the country. Sources told Business Today that Musk is trying to place pressure on the government. Through social media, Tesla wants the country to cut back import duties on its cars without committing to provide within the country. The Centre has once more turned down the demand for tax cuts to import electrical cars, said rules already permit conveyance in partially-built vehicles and collecting them domestically at a lower levy. Indian government levies a 60% import tax on electric vehicles priced at $40,000 or less, and 100% on those priced above $40,000. Tesla cars start at $44,690 (...

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Debt-Ridden Pakistan Looks For China To Redeem From Financial Crunch

Monomita NagFebruary 7, 20220

Pakistan seems to be expecting China to bail it out from a dire economic condition. Prime Minister Imran Khan has come to China to secure a $3 billion loan for cash trapped Pakistan and secure investments in half a dozen sectors. Pakistan wants this loan to boost its foreign exchange reserves. It needs to be mentioned in this context that Pakistan was already in receipt of $11 billion and $4 billion as commercial loans and foreign reserve deposits respectively from China earlier. What is very crucial is that last year the country had paid PKR 26 billion in the form of interest to China and PKR 794 billion paid as a trade finance facility. Additionally, the country also received a $3 billion loan from Saudi Arabia last month. Dire Economic  Crises Pakistan's economic c...

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cryptocurrency
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Cryptocurrency Becomes Taxable: A Step Towards Its Legalisation In India?

Pooja YadavFebruary 7, 20220

Finance minister Nirmala Sitharaman, while presenting the union budget, has labelled cryptocurrency as digital assets and their transaction is now taxable by 30%. Whatever profit is earned out of the cryptocurrency and other digital assets, 30$ of direct tax will be levied, which is a heavy amount. Does this signal that cryptocurrency has been legalised in the country? Cryptocurrency may be a digital payment system that does not deem banks to verify transactions. It’s a peer-to-peer system that will alter anyone anyplace to send and receive payments. Rather than being physical cash carried around and changed within the globe, cryptocurrency payments exist strictly as digital entries to internet info describing specific transactions. After the transfer of cryptocurrency funds, the tran...

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Want To Know Some Facts About Income Tax ?-Read On!

Pooja YadavFebruary 5, 20220

The government collects tax for meeting its different expenses. The government uses these tax collections for meeting different expenses like expenses on the infrastructure, defense, welfare schemes, education, and health. The taxes are collected by the government through a system. Many times government covers these expenses takes the loan and raises money from other means too. Income tax is a very important means of collecting revenue among the other sources. According to the report of Times of India,28 percent of the government s revenue was contributed by the taxpayers in 2020-21. This figure becomes more interesting when we get to know that out of this only 1 percent of the people give income tax. In the budget, Nirmala Sitaraman our finance minister recognize the efforts of t...

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ArticleFinance

Centre To Sell IDBI Bank, Will Keep Some Stake: Sources

Snehashish RoyFebruary 4, 20220

Centre is planning on selling IDBI Bank by the end of March, however, will keep a part of its stake to itself, the secretary of the department of investment and public asset management (DIPAM) Tuhin Kanta Pandey told The Indian Express. The sale will be made through an expression of interest (EOI). The process of sale will include the Centre filing the Draft Red Herring Prospectus (DRHP) of the Life Insurance Corporation (LIC). It will be made by the next week with the market regulator. The primary prospectus is expected to be listed on stock exchanges by the end of this financial year. LIC holds the management stake in IDBI Bank with a 49.24% share. Whereas, the Government of India holds a 45.48% stake in the bank. Pandey said the detailed consultations have been made with the ...

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Reduce Income Tax Or Not: The Conundrum Explained

Pooja YadavFebruary 3, 20220

BJP leader Subramanian Swamy has recently talked about abolishing the income tax. He shared his opinion during an interview with India Today. Also, Union finance minister Nirmala Sitharaman from the podium of parliament recognised the efforts of middle-class salaried people and their constant efforts. Through this article let's have a look into this crucial topic, should income tax be abolished and also discuss those countries where either income tax is abolished or have a minimum slab rate. Income Tax Payers Despite actively participating in India's GDP, the current Union budget has disappointed the taxpayers. However, if we go by the percentage, only 1-2% are covered by income tax. It suggests how important taxpayers are to the government's treasury. Many economists consid...

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FinancePolitics

Focuses On Middle Class, Poor; A Step Toward Modern India: PM Modi Lauds Union Budget 2022

Snehashish RoyFebruary 3, 20220

Prime Minister Narendra Modi lauded the Union budget 2022-23 and mentioned it as a step towards self-reliant and modern India. He said the budget provides basic amenities to the middle class, poor, and youth of the country. PM Modi was attending the 'Aatmanirbhar Arthvyavastha' event, where he addressed the BJP workers. He said the initial indicators of a new world in a post-pandemic era are already visible. “People, globally, want to see an empowered and strong India. It is imperative for us that we take our country forward at a rapid pace and strengthen it across several sectors,” he said. The Prime Minister compared the current budget with that of the UPA regime and said it has the provision to make a four-fold increase in public investment. He added that this will avail...

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