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According to sources, the government has not taken a call on challenging the award yet.
While the cost implication in the case is limited to having to pay Rs 85 crore to Vodafone in legal cost, what is weighing on the government mind is a separate arbitration involving UK's Cairn Energy plc.
If a separate arbitration panel were to hold a demand for Rs 10,247 crore in taxes using the same retrospective legislation as illegal, the government will have to pay Cairn as much as USD 1.5 billion (Rs 11,000 crore).
This is the amount equivalent to the value of shares of Cairn that the government had sold to recover a part of the tax demand. It also includes the dividends and tax refund seized.
Speaking on other issues, the sources said the cost of waiving compound interest for loans up to Rs 2 crore during the moratorium period will be around Rs 6,500 crore.
This comes even as the Centre has told the Supreme Court that the burden of interest on interest will be borne by the government, not the banks.
Meanwhile, the Supreme Court on Tuesday said it would hear a batch of petitions tomorrow, which have raised issues concerning the six-month loan moratorium period announced due to the COVID-19 pandemic.
The pleas came up for hearing before a bench, comprising Justices Ashok Bhushan, R S Reddy and M R Shah, which said it would hear the matter on Wednesday.
Earlier this month, the Centre had filed an affidavit saying that going any further than the fiscal policy decisions already taken, such as waiver of compound interest charged on loans of up to Rs 2 crore for six months moratorium period, maybe \"detrimental\" to the overall economic scenario, the national economy and banks may not take \"inevitable financial constraints\".
On rising food inflation, the sources said the government is there and a set of ministers monitors this regularly.
Inflation is something that this government is sensitive to, they added.
Retail inflation rose to an eight-month high of 7.34 per cent in September over rising prices of essential kitchen items, government data showed on Monday, making the Reserve Bank of India's task to push growth by reducing the interest rate even more difficult in the coming days.
In August, the retail inflation, which is measured by the consumer price index (CPI), grew 6.69 per cent.
Asked if there is fiscal space for further stimulus, the sources said, the option is not closed for providing further relief measures if the need arises.
Finance Minister Nirmala Sitharaman<\/a> on Monday announced a Rs 73,000 crore package, including advance payment of a part of wages to central government employees and cash in lieu of LTC, to stimulate consumer demand and investment in the economy damaged by the coronavirus pandemic.
As much as Rs 11,575 crore would be paid as LTC allowance and advance to central government and PSU employees on the condition that they spend on non-essential goods before March 31, she has said.
States would separately be eligible to get Rs 12,000 crore in 50-year interest-free loans for capital expenditure, while the Union government will spend an additional Rs 2,500 crore toward capital expenditure on roads, defence infrastructure, water supply and urban development.
The sources also said that a proposal for an infrastructure financing company is expected to reach the Union Cabinet soon.
Work on the proposal for a development finance institute is going on and it is at an advanced stage, they added.
Asked about the bad bank, they said there has been no progress on the proposal.<\/body>","next_sibling":[{"msid":78644244,"title":"Vivo partners IDFC First, Bajaj Finance to waive dealer charges for installment schemes","entity_type":"ARTICLE","link":"\/news\/vivo-partners-idfc-first-bajaj-finance-to-waive-dealer-charges-for-installment-schemes\/78644244","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":78646084,"entity_type":"ARTICLE","title":"Govt yet to take any decision on Vodafone tax arbitration case","synopsis":"The government is yet to take a call on appealing against an arbitration award relating to retrospective tax demand against British telecom player Vodafone.","titleseo":"telecomnews\/govt-yet-to-take-any-decision-on-vodafone-tax-arbitration-case","status":"ACTIVE","authors":[],"analytics":{"comments":0,"views":294,"shares":0,"engagementtimems":1429000},"Alttitle":{"minfo":""},"artag":"PTI","artdate":"2020-10-13 22:35:03","lastupd":"2020-10-13 22:41:57","breadcrumbTags":["vodafone tax arbitration","Vodafone tax","BT Group","Vodafone news","tax arbitration case","vodafone tax arbitration case","Nirmala Sitharaman","Industry","Vodafone","telecom news"],"secinfo":{"seolocation":"telecomnews\/govt-yet-to-take-any-decision-on-vodafone-tax-arbitration-case"}}" data-authors="[" "]" data-category-name="" data-category_id="" data-date="2020-10-13" data-index="article_1">
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据消息人士透露,政府没有采取呼吁挑战奖。
虽然成本含义的情况下仅限于不得不支付85卢比,沃达丰在法律成本,政府正在考虑什么想法是一个单独的仲裁涉及英国凯恩能源公司。
如果一个单独的仲裁小组召开需求使用相同的回顾10247卢比的税立法是非法的,政府将不得不支付凯恩高达15亿美元(11000卢比)。
这是凯恩的数量相当于股票的价值,政府已卖给恢复的一部分税收需求。它还包括红利和退税了。
在其他问题上,消息人士称放弃复利的成本为贷款2卢比在暂停期间将大约6500卢比。
这一切发生中心对最高法院说,利息负担的利息由政府承担,而不是银行。
与此同时,最高法院周二表示,它将听到一批明天请愿,这提高了问题贷款6个月的暂停期由于COVID-19宣布大流行。
听证会的请求提出一条长凳上,由法官Ashok Bhushan R S Reddy和M R Shah,周三表示,它将听到此事。
本月早些时候,该中心已提交了证词说,会比已经采取的财政政策决定任何进一步的,比如放弃复利贷款2卢比了六个月的暂停期,也许“有害”整体经济的情况下,国民经济和银行可能不会采取“不可避免的金融约束”。
不断上涨的食品价格通胀,消息人士说,政府有和一组部长定期监控这个。
通货膨胀是政府敏感的东西,他们补充说。
零售9月份通胀率升至八个月高位7.34%基本厨房用品价格上涨,政府周一公布的数据显示,印度央行(Reserve Bank of India)的任务,推动增长降低利率在未来几天更加困难。
今年8月,零售通货膨胀,这是衡量消费者价格指数(CPI),增长了6.69%。
问如果有财政空间进一步刺激,消息人士称,选择不关闭如果需要提供进一步的救援措施。
财政部长吧Sitharaman周一宣布了一项73000卢比包,包括预付款的一部分中央政府雇员工资和现金代替LTC,刺激消费需求和投资经济受损的冠状病毒大流行。
高达11575卢比将先行支付LTC津贴和中央政府和事业单位员工,条件是他们花在不必要的货物在3月31日之前,她说。
州分别将有资格获得12000卢比资本支出的50年的无息贷款,而联邦政府将花费额外的2500卢比对资本支出在公路、国防基础设施、供水和城市发展。
消息人士还说,提议对基础设施融资公司预计将达到联邦内阁。
工作发展金融机构的提议,是在一个高级的阶段,他们补充说。
被问及坏银行,他们说没有进展的建议。
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