dna Money Must Reads: From EPF tax issue concerns to Railway Infra Fund, and more

These are the top 5 business stories of the day:

EPF tax issue to be addressed during Budget 2016 discussion: Arun Jaitley

Amid widespread concerns, Finance Minister Arun Jaitley on Wednesday said in Lok Sabha that the issue related to the proposal to tax Provident Fund (PF) will be addressed by him during the discussion on Budget 2016.

"We are seized of the problem. I will address it during the Budget 2016 discussion," Jaitley said.... Read More

Mercedes-Benz cars to get costlier from March 15; up to Rs 5 lakh hike in prices

Mercedes-Benz India on Wednesday said it will hike prices of its vehicles by up to Rs 5 lakh from March 15 in order to offset the impact of infrastructure cess and luxury tax proposed in the Union Budget 2016-17.

The price increase would be between 3% and 5% depending on the model, leading to a price hike between Rs 1 lakh and Rs 5 lakh... Read More

RBI cheers public sector banks; shares rally 12%

The shares of state-run banks on Wednesday soared by up to 12% after the Reserve Bank of India (RBI) announced amendments to recognise more balance sheet items as common equity tier-I capital which will help unlock up to Rs 35,000 crore for these lenders impacted by asset quality troubles.

Indian Bank jumped 12.27%, Bank of Baroda zoomed 11.71% and SBI surged 10.17% on the BSE... Read More

Compliance window for black money holders is no amnesty: Arun Jaitley

Finance Minister Arun Jaitley on Wednesday said the domestic black money holders being offered a limited period compliance window to come clean is not an amnesty scheme as disclosures will be charged at 45% as against the normal rate of 30%.

"In amnesty (scheme), you just pay tax and get away with it," he said in his post-Budget 2016-17 interaction with industry chambers... Read More

World Bank approached to set up Railway Infra Fund, says Suresh Prabhu

The World Bank has been approached to explore the possibility of setting up of a Railway Infrastructure Development Fund, Railway Minister Suresh Prabhu said on Wednesday.

"The World Bank has taken up a detailed scoping and options study for creating such a fund," he said in Lok Sabha during Question Hour.... Read More