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The garment industry in Punjab described the levy as "most deplorable" step and said that prices of ready made garments will go up in the range of 2 to 5 per cent.

Krishi Kalyan Cess will be levied on all taxable services at the rate of 0.5 per cent with effect from June 1, 2016, to finance and promote initiatives to improve agriculture, Finance Minister Arun Jaitley said in his Budget speech.

"This (cleanliness) subject was very close to the heart of the Father of the Nation Mahatma Gandhi. The government has allocated Rs 9,000 crore for Swachh Bharat Abhiyan," Union Finance Minister Arun Jaitley said.

Observing that making quality medicines available at affordable prices has been a "key challenge", Jaitley said the government will "reinvigorate" the supply of generic drugs by opening 3,000 stores under Prime Minister Jan Aushadhi Yojna.

Japanese monetary authorities did not conduct any currency intervention between Jan. 28 and last Thursday, according to the Finance Ministry. The results were released after some market participants speculated that the ministry and the Bank of Japan may have stepped into the foreign exchange market earlier this month to stem ...

The dollar erased earlier gains to return to levels around ¥113 in Tokyo trading on Monday, dragged down by drops in Chinese shares and the yuan despite a weekend Group of 20 agreement to boost economic growth and stabilize markets. At 5 p.m., the dollar stood at ¥112.99-113.00, up from ...

Pressured by the yen’s appreciation against the dollar and other major currencies, stocks gave up earlier gains to close substantially lower on the Tokyo Stock Exchange on Monday. The 225-issue Nikkei average lost 161.65 points, or 1 percent, to finish at the day’s low of 16,026.76. On Friday, the key ...

Foreign-exchange forecasters are the most divided about the yen in almost a year. The Japanese currency has defied predictions and it rallied more than 6 percent in February, the biggest monthly surge since 2008, as investors sought haven assets. The gulf has widened between analysts’ forecasts, with Barclays PLC, the ...

Lotte Holdings Co. will convene an extraordinary shareholders meeting on March 6 at its headquarters in Tokyo amid a feud between the sons of the company founder over their control of the company, a person close to the founder’s eldest son, Hiroyuki Shigemitsu, said Monday. Shigemitsu, who was dismissed as ...

Sharp Corp. said Monday it hopes to finalize a takeover deal with Taiwan’s Hon Hai Precision Industry Co. “as soon as practically possible” without setting a deadline for inking the bailout package. “Sharp and Hon Hai Precision Industry have not set a signing date,” the electronics giant said in a ...