Economic Advisory Council to the Prime Minister (EAC-PM) chairman Bibek Debroy on Tuesday said the government was losing revenue due to the GST, which should be revenue neutral with a single rate. Speaking at an event organised by the Calcutta Chamber of Commerce in Kolkata, he however said that GST has led to a lot of simplification. "The ideal GST is one that has a single rate, and it was meant to be revenue neutral.
The guidelines for regulating coaching institutes have been framed to address the need for a legal framework and manage the unregulated growth of private coaching centres.
The International Monetary Fund (IMF) warned on Tuesday that India's general government debt (comprising both central and state government debt) could exceed 100 per cent of gross domestic product (GDP) in the medium term. It also cautioned that long-term debt sustainability risks are high due to the significant investment required to meet India's climate change mitigation targets. The Indian government, however, disagreed, arguing that risks from sovereign debt are extremely limited as it is predominantly denominated in domestic currency.
The two sections were not retained in the new bills as the government thought they will go against the judgments of the Supreme Court.
The three main political parties in Pakistan on Sunday intensified their efforts for the formation of a coalition government after it became clear that the coup-prone country faced a hung Parliament after general elections marred by allegations of rigging.
Early indications of Covid infections plateauing have been reported in some places but the trend needs to be observed, the Union government said on Thursday whilst noting that 400 districts have logged weekly Covid positivity of over 10 per cent.
The over half-an-hour meeting between the opposition parties and the government, however, remained inconclusive.
Days after the Supreme Court held as "illegal" the extension of ED Director Sanjay Kumar Mishra's tenure, the Centre on Wednesday moved the apex court seeking modification of its order to allow him to continue in office till October 15 in view of the ongoing FATF review.
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The top 50 exposures, amounting to Rs 7.8 trillion, of government-registered non-banking financial companies (G-NBFCs) constitute about 40 per cent of corporate credit within the NBFC sector, indicating concentration risk, according to the Reserve Bank of India's report "Trend and Progress of Banking in India 2022-23". Notably, all the 50 are tied to the power sector, a domain fraught with inherent challenges, the report said. The report highlighted recognising the escalating systemic importance of G-NBFCs, the Prompt Corrective Action (PCA) framework had been expanded to include G-NBFCs excluding those falling within the base layer.
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Even though the number of cases is rising and the JN.1 sub-variant has been detected in the country, there is no cause of immediate concern as 92 per cent of those infected are opting for home-based treatment, indicating mild illness, they said.
The Supreme Court on Tuesday asked the Bihar government to put in the public domain the break-up of the caste survey data to enable those aggrieved to challenge the findings.
The notification issued by the Union Environment Ministry also exempts projects pertaining to the expansion of terminal buildings at airports (without an increase in the existing area of the airport) from seeking green nod.
The government on Thursday tweaked curbs on imports of laptops and computers as it allowed importers to bring in shipments of IT hardware from overseas on a mere 'authorisation' upon detailing quantity and value. The new 'import management system' is aimed at monitoring shipments of laptops, tablets and computers into the country without hurting market supply or creating a cumbersome licensing regime. The announcement is likely to provide relief to companies in the IT hardware segment in India as they had flagged concerns over the imposition of a strict licensing regime for importers.
The Supreme Court on Monday flagged the issue of "pick and choose" by the Centre in clearing the collegium's recommendations for transferring high court judges and said this does not send a good signal.
The Bill allows stopping of transmission and intercepting messages in case of public emergency, in the interest of the public, to prevent incitement for committing offence.
The Congress on Saturday accused the government of covering up or demolishing slums and rounding up stray animals in view of the G20 Summit, with its leader Rahul Gandhi saying 'there is no need to hide India's reality from our guests'.
He alleged that India "lost access to 26 out of 65 Patrolling Points" which was not the case before May 2020, and questioned the Modi government's "silence" on the issue.
Leaders at an all-party meeting on Maratha quota chaired by Maharashtra Chief Minister Eknath Shinde on Wednesday passed a resolution asking activist Manoj Jarange to call off his indefinite fast.
BRS leader and former Telangana minister Vemula Prashanth Reddy claimed that Kavitha was taken to Delhi on a flight at 8.45 pm.
Holding simultaneous polls for the Lok Sabha and all assemblies would need any no-confidence motion to be coupled with a 'confidence motion' by a leader proposed as next prime minister or chief minister, while any mid-term election can be conducted only for remainder of the term, the Election Commission had said earlier.
The presence of an engine maintenance, repair, and overhaul (MRO) facility in India could have prevented Go First airline from going "belly up", as sending engines abroad for servicing is not an efficient way to operate a carrier, Piyush Srivastava, senior economic advisor, Ministry of Civil Aviation, said in a statement on Tuesday. On May 3, Go First suspended its flights and filed for insolvency, squarely blaming engine manufacturer Pratt & Whitney (PW) for its cash crunch. The airline claimed that about half of its 54 aircraft were grounded on May 3 due to a delay in the supply of engines by the US-based company. PW has denied the charges.
There is no plan to direct over the top (OTT) communications players who generate large amounts of traffic to give a 'fair and proportionate' share of their revenues to telecom network operators, the communications ministry has said. A senior official allayed any such apprehension by saying: "We have no proposal of this kind or anything like this which we are working on. "There is no fresh reference on this matter to the regulator (Trai)," he said. The ministry's view is significant as telecom network operators have been escalating this issue since July when Trai issued a consultation paper called 'Regulatory Mechanism Over OTT Communication Services and Selective Banning of OTT Services'.
India's macroeconomic indicators are improving and inflation has been coming down consistent with the central bank's forecast, but Asia's third-largest economy needs investment growth to pick up, he added.
The government will assist citizens in filing FIR against social media platforms for violation of IT rules in case they are aggrieved from objectionable content like deep fakes.
Attacking the Samajwadi Party, Prime Minister Narendra Modi on Thursday said it supported rioters and the mafia, and fielded criminals in western Uttar Pradesh for the assembly elections.
Extending its winning run in the south, the Congress on Sunday won 64 assembly seats to form government in the Bharat Rashtra Samiti-dominated Telangana, with the southern solace coming in the midst of a saffron sweep of the Hindi heartland where the Bharatiya Janata Party wrested two states from the grand old party and retained one.
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Pfizer Inc and BioNTech SE have said that their vaccine candidate has been found to be more than 90 per cent effective in preventing COVID-19.
The top court was hearing a plea filed by Tushar Gandhi, the great grandson of Mahatma Gandhi, seeking speedy investigation in the case.
"Today, I am quiet because the attorney general has sought a very short time, next time I will not be quiet. Use your good office to see these issues are resolved," Justice Sanjay Kishan Kaul told Attorney General R Venkataramani. "I thought of saying a lot, but since the attorney general is only seeking seven days time, I'm holding myself," said Justice Kaul, whose bench also comprised Sudhanshu Dhulia, after Venkataramani sought a week's time to come back with instructions on the pending recommendations for judges' appointment to the high court.
India stopped the export of Covid vaccines in mid-April.
Karnataka Chief Minister Siddaramaiah on Monday hit out at the BJP-led government at the Centre, alleging the delay in giving approval to the construction of the Mekedatu balancing reservoir over the river Cauvery, and accused neighbouring Tamil Nadu of causing "unnecessary nuisance" on the issue.
Security presence which has been bolstered by flying in more army troops and rapid action force and central police forces was clearly visible at all major areas and roads.
India on Thursday insisted on the need for ensuring "parity" in Canada's diplomatic presence in the country and asserted that its measures are in compliance with the Vienna conventions on diplomatic relations, signalling continuing strain in the bilateral ties over the killing of a Sikh separatist leader in June.
"Government has decided to notify an entity through Meity and that organisation then would be the fact checker for all aspects of content online and only those that are related to the government," Chandrasekhar said. Talking about rules for online gaming, the minister said that there will be multiple self-regulatory organisations (SRO) which will decide on permissibility of online games based on the framework.
The Supreme Court Wednesday asked the Centre and the NCR states to continue implementing for few days the measures to ensure improvement in air quality, saying that preventive actions are needed in anticipation to curb pollution even as it wondered what signals are being sent to the world.
"Hospitals under the central government, state governments and UT administration, including private hospitals managing COVID patients, shall ensure that requirement of a positive test for COVID-19 virus is not mandatory for admission to a COVID health facility.
Bribery can never be a subject matter of immunity and parliamentary privilege is not meant to place a lawmaker above the law, the Centre on Thursday told the Supreme Court which reserved its verdict on reconsideration of its judgment of 1998 when it held that MPs and MLAs enjoy immunity from prosecution for taking bribe to make a speech or cast a vote in legislature.
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