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Demonetisation: FM Jaitley dismisses slowdown concerns, says higher tax mop up indicates uptick in economic activity
Business & Finance   Tuesday, January 10, 2017 IST
 
Demonetisation: FM Jaitley dismisses slowdown concerns, says higher tax mop up indicates uptick in economic activity

Demonetisation: FM Jaitley dismisses slowdown concerns, says higher tax mop up indicates uptick in economic activity

New Delhi: Dismissing worries of log jam because of demonetisation, Finance Minister Arun Jaitley on Monday said that the circuitous and direct expense accumulations amongst April and December this year expanded by 25 percent and 12.01 percent individually contrasted with a similar period a year ago.

FM additionally said that the demonetised notes had no part to play in the duty accumulations for December as individuals were permitted to pay charges in the spiked money just in November.

Last November, Prime Minister Narendra Modi had rejected 500-and 1,000-rupee certified receipts as a component of a crackdown on duty

"The figures for direct duty accumulations up to December, 2016 demonstrate that net accumulations were at Rs. 5.53 lakh crore which is 12.01 percent more than the net accumulations for the relating time frame a year ago. The figures for circuitous expense accumulations (focal extract, benefit assessment and traditions) up to December 2016 demonstrate that net income accumulations were at Rs 6.30 lakh crore, which is 25 percent more than the net accumulations for the relating time frame a year ago," Jaitley said.

 

Key highlights of Jaitley's announcement:

Focal Excise expanded 31.6% in December 2016 when contrasted with December 2015.

In December 2016 contrasted with last December, the traditions has really declined, it is - 6.3%.

Contrasted with November 2016, the development of Indirect expense in December 2016 is 12.8%.

Coordinate charges for the initial 3 quarters has climbed, roundabout duties essentially climbed.

For most States VAT accumulations have expanded.



 
 
Tata Make f-16 fighter planes in India ,Lockheed Martin signs pact with Tata
Business & Finance   Tuesday, January 10, 2017 IST
 
Tata Make f-16 fighter planes in India ,Lockheed Martin signs pact with Tata

Tata Make f-16 fighter planes in India ,Lockheed Martin signs pact with Tata

Paris: Lockheed Martin signed to an arrangement with India`s Tata Advanced Systems on Monday to create F-16 military aircraft in India, squeezing ahead with an arrangement to move its Fort Worth, Texas plant to win billions of dollars worth of request from the Indian military.

India`s flying corps needs several flying machine to supplant its Soviet-period armada, however, Prime Minister Narendra Modi`s government has said outside providers would need to make the planes in India with a neighborhood accomplice to help assemble a residential modern base and cut out and out imports.

In any case, Modi`s Make-in-India drive risks clashing with U.S. President Donald Trump`s America First crusade under which he has been squeezing for organizations to put resources into the United States and make occupations as opposed to setting up processing plants abroad.

In reporting their understanding at the Paris Airshow, Lockheed and Tata said moving the generation base to India would at present hold employments in the United States.

"F-16 production in India underpins a great many Lockheed Martin and F-16 provider employments in the U.S., makes new assembling occupations in India, and positions Indian industry at the focal point of the most broad contender flying machine supply biological community on the planet," a joint articulation by the organizations said.

Sweden`s Saab is the other contender to supply the Indian Air Force, offering to make its Gripen warrior in India. It has not yet declared a nearby accomplice for the plane which it has pitched as a current contrasting option to the F-16s.

The declaration comes days before Modi goes to Washington for an initially meeting with Trump, booked for June. 26. India and the United States have assembled a nearby guard relationship as of late with Washington rising as among the main three arms providers to India, alongside Russia and Israel.

India will likewise have the opportunity to send out the F-16 that is flown via aviation based armed forces the world over, the joint proclamation said. Somewhere in the range of 3,200 of these planes are being flown by 26 nations and the model that is being offered to India will be Block 70, the most current of all the F-16s.

"This uncommon F-16 generation association between the world's biggest guard contractual worker and India's head mechanical house gives India the chance to create, work and fare F-16 Block 70 air ship, the freshest and most progressive variant of the world's best, battle demonstrated multi-part warrior," the announcement said.

Goodbye is as of now fabricating airframe segments for the C-130 military transport air ship.

India has not opened formal offering for the fly request, which is required to be anything from 100 planes to 250.



 
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