India finalises details for tax-free bond issuance in 2012/13
MUMBAI (Reuters) - India will allow select companies to issue tax-free bonds in the rest of the financial year, finalising details of a proposal announced in the budget in February, according to a government notification obtained from two of the eligible issuers.
The government said in the notification seen by Reuters that a total of 535 billion rupees would be raised through issue of tax-free infrastructure bonds in the current financial year that ends in March.
The government has set a target for tax-free bonds at 600 billion rupees by infrastructure finance companies in 2012/13, which would be used to bridge the shortfall in cash to fund large projects.
(Reporting by Suvashree Dey Choudhury and Archana Narayanan; Editing by Subhranshu Sahu)
- Tweet this
- Share this
- Digg this
- U.S. nurse defies Ebola quarantine with bike ride; negotiations fail
- In his native Alabama, Apple CEO's announcement he is gay prompts discomfort for some
- Islamic State fighters kill 220 Iraqis from tribe that opposed them
- PM Modi boots officials out of the first class cabin
- Govt considers ban on e-cigarettes, sale of single smokes
The BSE Sensex and Nifty on Friday rose to their second consecutive record highs. The 30-share Sensex surged as much as 1.52 percent to an all-time high of 27,762.13. The broader Nifty gained as much as 1.49 percent to a record of 8,291.65. Full Article
China's shadow banking sector growing rapidly, third largest in world - FSB. Full Article