Mumbai: Even as harsh legislation to punish fugitive economic offenders takes shape in India, 31 individuals accused of fraud and economic offences are holed up abroad, the ministry of external affairs said.

These people, pursued by the Enforcement Directorate and Central Bureau of Investigation (CBI) in 15 different cases, collectively owe Rs40,000 crore to banks and public institutions in India, calculations by Mint based on investigation reports show.

New Delhi: The goods and services tax (GST) implemented by the Narendra Modi government from 1 July last year is one of the most complex with the second highest tax rate in the world among a sample of 115 countries which have a similar indirect tax system, the World Bank said in a report.

India’s GST structure has five tax slabs of 0, 5%, 12%, 18%, and 28%. Further, there are several exempted sales and exports are zero rated, which allows exporters to claim refund for taxes paid on inputs.

An arm of Larsen and Toubro Ltd. has landed a contract worth 2,864 crore from Dedicated Freight Corridor Corporation of India Ltd. (DFCCIL).

L&T Construction’s Transportation Infrastructure Business has been awarded the contract for Eastern Dedicated Freight Corridor.

Private sector lender Yes Bank has sold 2.17 per cent stake in Fortis Healthcare, out of over 17 per cent stake it acquired last month. In a regulatory filing, Yes Bank said it had sold 1.12 crore shares representing 2.17 per cent stake of Fortis Healthcare in the open market between February 23 and March 15, 2018. Yes Bank had acquired 17.31 per cent stake in Fortis Healthcare following invocation of nearly 9 crore pledged shares last month.

Microsoft's intelligent keyboard, SwiftKey, announced a product update, whereby the existing Hub will be replaced with Toolbar, an expandable menu that gives fast and easy access to a host of new and existing frequently used features, on both Android and iOS.

The new feature, available on SwiftKey 7.0, can be found under the new + sign on the left of the prediction bar.

FMCG major ITC today said it would file an FIR in the national capital, the third in the country, against circulation of videos which claimed presence of plastic in its Aashirvaad Atta.

The company has already filed FIRs in Kolkata and Hyderabad.

India's largest passenger car maker Maruti Suzuki India is all set to end this fiscal as the top utility vehicle (UV) player, toppling the erstwhile market leader in the segment Mahindra and Mahindra (M&M). For the April to February period, Maruti already has a lead of 21,700 units over M&M (which is equal to the average monthly volume of M&M), and thus it is expected to end the year with a lead over its closest rival.

Markets regulator Securities and Exchange Board of India (SEBI) is considering a proposal to disincentivise algorithmic trading by traders with a ‘congestion charge’ for high volumes along with other restrictions.

The proposal which was made at a recent meeting of an expert panel is aimed at addressing concerns that high-frequency or algo traders have unfair access to the trading system of exchange.

NEW DELHI: Equity indices on Friday started off on a negative note as trade war woes reached new heights after US dragged India to World Trade Organisation (WTO) over six export subsidy schemes.

The BSE index opened absolutely flat but soon started to slip as bank and metal stocks cracked. The two sectors have been under pressure due to frauds and Trump administration's decision to impose substantial tariffs on steel and aluminium imports, respectively.

BENGALURU: Infosys will open its fourth tech and innovation hub in Hartford, Connecticut, and hire 1,000 American workers by 2022. It inaugurated its first tech hub in Indianapolis, Indiana, followed by Raleigh in North Carolina and a design and innovation hub in Providence in Rhode Island.

The Connecticut hub will have a special focus on insurance, healthcare and manufacturing. It will bring Infosys closer to its Connecticut clients and serve as the global hub to further strengthen its insurtech and health tech efforts.

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