-Scroll.in Non-profit organisations will now have to renew their registrations under the Income Tax Act every five years. On February 1, when Finance Minister Nirmala Sitharaman introduced the Budget in Parliament, she presented a number of amendments under the Finance Bill 2020. Some of these alter the validity of registrations granted to Indian non-governmental organisations. The Bill, which will come into effect on June 1, amends certain sections under the Income Tax...
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Employees' unions oppose govt plan to sell shares in LIC
-PTI Finance Minister Nirmala Sitharaman said the Life Insurance Corporation of India (LIC) will be listed as part of the government disinvestment initiative. LIC employees' unions on Saturday opposed the Centre's plan to sell a part of its shares in the state-run insurance behemoth through an initial pubLIC offer (IPO), insisting that the move is "against the national interest". Please cLICk here to read more. ...
More »Modi govt's disinvestment targets make LIC's health, wealth deteriorate -Prudhviraj Rupawat
-NewscLICk.in LIC’s bad loans bulged by 145% in the last five years to Rs 30,000 crore in September 2019. Life Insurance Corporation of India (LIC) has been struggling with rising non-performing assets (NPAs) and downgraded investment portfolio of Rs 67,387 crore, reveals the insurer’s latest pubLIC disclosure figures. The biggest pubLIC insurer has been witnessing a deteriorating health since 2014, significantly due to massive investments in cash-strapped pubLIC and private entities pushed...
More »Internet shutdowns lead to losses of Rs.2.45 crore per hour: Telcos
-The Hindu Business Line Switching off internet services as per government orders hurts dependent businesses to the tune of Rs. 2.45 crore per hour, according to Telecom companies. A telecom industry association representative said, “It is estimated that the loss has increased to Rs. 2.45 crore per hour by the end of 2019 as the dependence of various services on internet has significantly increased.” Telecom companies have to abide by the government orders...
More »The draft seeds bill favours the industry over farmers -Suman Sahai
-Hindustan Times A 2001 law protects farmers’ interests. But the seeds bill neutralises many of the enabling measures granted in it There is a draft seeds bill awaiting Parliament, which seeks to replace the old Seed Act of 1966. A law regulating seed production and trade is needed to ensure that farmers are protected against spurious seeds, and that seed producers are obliged to put only seeds of good and reliable quality...
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