FM Nirmala Sitharaman to hold first pre-budget meet on June 11 : Bulletin: Business Today
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FM Nirmala Sitharaman to hold first pre-budget meet on June 11

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June 10, 2019

Chinese President Xi to meet PM Modi on sidelines of SCO summit

Chinese President Xi Jinping will attend the Shanghai Cooperation Organisation (SCO) summit this week at Bishkek where he would also meet Prime Minister Narendra Modi, the first meeting between the two leaders after the BJP's massive victory in the general elections. The SCO summit is due to be held on June 13-14 in Bishkek, Kyrgyzstan.

Anil Ambani's Reliance Power suffers Rs 2,951 crore loss in FY19

Anil Ambani-led Reliance Power, the power generation and coal resources company, on Saturday reported a net loss of Rs 2,951.82 crore for the financial year 2018-19 as against net profit of Rs 840.46 crore in FY18. Meanwhile, Reliance Infrastructure (RInfra) has delayed earnings release for the March quarter.

Traffic violators can pay challans online as Delhi police is set to launch e-payment facility by June end


Traffic violators in Delhi will be able to pay challans online as the traffic police is all set to launch its e-payment facility by the end of this month, officials said. At present, traffic violators have to go to the headquarters of the traffic police in west Delhi's Todapur area to pay the amount of their challan.

Finance Minister Nirmala Sitharaman to hold first pre-budget meet with agricultural experts on June 11


Finance Minister Nirmala Sitharaman will hold her first pre-budget consultation meeting with farm bodies and agricultural experts on June 11 amid delayed monsoon and drought in some states like Maharasthra.

This would be the first interaction of Sitharaman, who took over as India's first full-time woman finance minister last month.

Govt may introduce tax on cash withdrawal of Rs 10 lakh in a year


The government is considering the possibility of introducing a tax on cash withdrawals of Rs 10 lakh in a year. The government is mulling this move to discourage use of paper currency, promote digital payments as well as crack down on black money. It remains to be seen if the cash withdrawal tax will be implemented.

Taxation imbalances in aviation need to be corrected: SpiceJet chairman Ajay Singh

Asserting that Indian aviation sector has terrific potential, SpiceJet chief Ajay Singh has said imbalances in regulatory and taxation structure need to be corrected for the sector, which can be a bright spot of the economy. Singh, who has helmed the turnaround of the once ailing low cost carrier, said big bold reforms and more out of the box thinking can be expected from the government.

Huawei obtains 5G contracts from 30 countries despite US ban


Chinese telecom giant Huawei said it has obtained 46 commercial 5G contracts so far in 30 countries and shipped more than one lakh 5G stations globally, emerging as a top player in the race for setting up the super-fast telecommunications system despite the US ban on use of its 5G services.

G20 finance minister, central bank chiefs admit trade wars pose risk to world economy


The world's top financial policymakers admitted Sunday that trade tensions had worsened & posed a risk for the global economy, after a G20 meeting that laid bare differences between the United States and other nations. Trade battles were front and centre of policymakers' minds as the US and China continue to threaten each other with tariffs that economists fear could slam the brakes on global growth.

 

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