Sharp drop in number of new companies registered
For the first time in the last five years, the number of fresh companies registered during a year fell sharply in 1996-97. Though the final figures for the full year are still being compiled by the government, the first nine months to December 1996 saw the registration of 31,962 companies as against 56,326 registered in 1995-96.
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Centre, bank chiefs to discuss VDIS tax collection
The finance ministry plans to soon convene a meeting of all nationalised banks to ensure smooth collection of undisclosed income declared under the voluntary disclosure scheme (VDS).
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