The deficit for the first five months of the year stood at 96 per cent of the full-year target of Rs 5.46 lakh crore despite cut in capital expenditure in August.
The move follows poor results in detecting undisclosed foreign assets and delay in concluding pending matters under the Black Money Act, which came into effect in 2015. According to the official data, only 52 cases have been identified so far. Of these, nine are from Mumbai alone.
The forthcoming Budget, the last full one before the 2019 Lok Sabha elections, is expected to contain a number of sops and feel-good announcements, especially regarding social sector schemes.
The government plans to raise resources to finance capital spending beyond the Rs 3.10 lakh crore budgeted for 2017-18 through higher borrowing or divestment receipts.
Debroy is expected to have a role and responsibility similar to the erstwhile chairman of the Prime Minister's Economic Advisory Council
'If anybody defaults on something which is due for today, they have to disclose it tomorrow.' 'The accumulation of NPAs is due to asymmetry in information.' 'The investor should have real-time information.'
Petroleum Minister Dharmendra Pradhan's wish to levy indirect tax on petrol unlikely to be taken up
'We saw people tripping over each other, running, screaming.' 'You could see people running with their daily briefcase despite suffering deep cuts and blood pouring from them.'
The government has spent a little less than one-third of the Budget estimate of capital expenditure, it can still spend about Rs 20,000 crore this year without disturbing its fiscal deficit target.
It will launch jurisdiction-free assessment from October
Like 2017-18, govt will seek comments from the public at large, including Facebook and Twitter
This is the first big move in the investigation of the British Virgin Islands list where the I-T department has found a significant amount of tax evasion.
Linking all accounts is a difficult and costly task for brokers
Data mining with the object of ensuring that resources are properly deployed to legitimate beneficiaries is a valid ground for the state to insist on the collection of authentic data
The mergers will not involve any cash but only share swaps
Legal experts fear such shareholder activism could turn into a class-action suit against Infosys
After initiating stern action against 331 companies, the market regulator seems willing to revoke its stringent restrictions for some entities.
Entry of a higher number of technocrats, an appraisal system for civil servants and the benefits of changing the financial year may feature in the PM's fourth speech.
'Look at Mr Modi. He is a part of this new middle class.' 'India has never before seen this kind of social mobility, certainly not since medieval times.' 'As a result, India's entrenched elite, which is a class of people with a strong sense of entitlement, is being tamed,' Sanjeev Sanyal tells Shyamal Majumdar and Arup Roychoudhury.
I-T officials say many lawyers, CAs, consultants, designers have not filed their TDS
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