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
- Rihanna, CBS bench opening number for Thursday football
- UPDATE 3-Boeing, SpaceX win contracts to build 'space taxis' for NASA
- Coke, J&J join big corporations behind new employee wellness push
- Citing security threat, Obama expands U.S. role fighting Ebola
- Apple iPhone 6 pre-orders hit record 4 million on first day
India will decide on ending government control on diesel pricing after elections in two states next month, an oil ministry source said, even though local prices of the fuel are currently higher than the global rates, making a case for a cut in retail prices. Full Article
India says to defend China border after standoff ahead of Xi visit. Full Article
Climate smart farmers get tech savvy to save India's bread basket. Full Article