Unlike any other national asset, which is typically sold to the highest bidder, the profile of the bidder is the most important criterion for a licence to bank, and even for acquiring more than 5 per cent stake, explains Tamal Bandyopadhyay.
The special package assistance would be used to augment irrigation structures in drought-prone areas to address the agrarian distress and drinking water crisis.
'There is a vision in the Budget, and the vision is to take India from a largely agrarian, rural economy into a fast-track digitalised economy.'
Fiscal deficit has a bearing on sovereign rating of the country as well as the debt market.
Though startups find 17 mentions in the Budget speech of the finance minister, and have been promised tax exemptions, the reality is that only 2 per cent of the 4,648 applications received from startups for income tax exemption had been approved as of February 2019, according to an answer to a Parliament question. As India's startup space bubbles with activity - new, young players are tapping into opportunities opening up - there are local anti-portfolio stories circulating about investors missing opportunities in 'unicorns', or companies that have reached valuation of $ 1 billion, says Vandana Gombar.
The election is likely to witness a three-cornered contest involving the ruling Aam Aadmi Party, the Bharatiya Janata Party and the Congress.
The PM-CARES fund, which has been set up to provide relief during the coronavirus pandemic, has contributed over Rs 2,200 crore for the first phase of vaccination drive, which is looking to inoculate frontline healthcare workers, the Expenditure Secretary said on Tuesday.
Finance Minister Nirmala Sitharaman spelled out water, its management, clean rivers as one of the 10 points of vision for the next decade.
Finance Minister Nirmala Sitharaman in his Budget speech said that India's FDI inflows in 2018-19 grew by 6 per cent to $64.37 billion.
Tuesday's bridge collapse once again puts the spotlight on the city's urban infrastructure and a dire need for its development.
Finance Minister Nirmala Sitharaman on Monday presented the Budget for 2021-22 in the Lok Sabha that is expected to provide relief to the pandemic-hit common man as well as focus more on driving economic recovery through higher spending on healthcare, infrastructure and defence amid rising tensions with neighbours, As India emerges from the COVID-19 crisis, the ninth Budget under the Modi government, including an interim one, is widely expected to focus on boosting spending on job creation and rural development, generous allocations for development schemes, putting more money in the hands of the average taxpayer and easing rules to attract foreign investments.
Bank strike continued for day-two on Tuesday, led by nine unions of public sector banks (PSBs) in the country, opposing government's policy to privatise the lenders. Customers will be inconvenienced to get services such as cash withdrawals, deposits, cheque clearances, remittance services. Government transactions related to treasury as well as business transactions will also be impacted. United Forum of Bank Unions (UFBU), an umbrella body of nine unions, had given a strike call for March 15 and 16.
As part of the ritual, ''halwa'' is prepared in a big ''kadhai'' (large frying pot) and served to the entire staff involved in the Budget making exercise of the ministry. Halwa was served while maintaining COVID protocol with all present in mask and those distributing sweets were wearing gloves.
There was no law that prevented the government from presenting a sixth full Budget, or something similar to it.
The income tax department was committed to treat every taxpayer as honest, unless proven otherwise, and provide fair, courteous and reasonable treatment, according to the taxpayers' charter adopted on Thursday. The charter also expects taxpayers to pay taxes on time and be honest and compliant.
What does Arun Jaitley's Union Budget have for India's student population? We explore
A 27-year-old professional shares the ordeal he underwent in the last three years after pursuing a course in animation from Delhi.
'How does it matter to me if a foreigner comes, starts an industry and makes India a $5 trillion economy when I am dead?'
Many experts, including Nobel laureate Joseph Stiglitz, also suggested that industrial groups should not be allowed to do banking business.
Regardless of who forms the next government, the interim Budget speech lays down a must-do list.
The issue of alleged tax evasion by Indians through banks and other entities in offshore locations, specially Switzerland, has been matter of a political debate in India.
It is unfair to expect Mr Jaitley to perform miracles with the Centre's straitened finances.
Fuel cess, TDS on large cash payouts bid to destroy truckers and get foreign players in, says an industry body.
A summary of the budget speech of Union Finance Minister P Chidambaram in the Lok Sabha on Thursday.
Sources in the Rural Development Ministry said the actual expenditure incurred in 2020-21 will be higher than the allocated funds and it will at least be at par with this year's total estimated expenditure of MGNREGS.
But use of that word -- privatisation -- is not encouraged. This seems to be a classic case of reforms through subtle signals, observes A K Bhattacharya.
In the run up to the elections Narendra Modi kept telling us achche din aane wale hain. Far from that, Jaitley's Budget just seems to be more of the wohi raat aur wohi din, says Mohan Guruswamy.
A large part of this fund would be raised through public offers made to retail customers, he said.
Finance Minister Arun Jaitley may not raise I-T exemption limit to Rs 500,000.
Finance Minister Arun Jaitley may not raise I-T exemption limit to Rs 500,000.
There is no doubt that agricultural gross domestic product may grow by 4.6 per cent this year.
We have to wait and see whether Jaitley's Budget speech translates into actions and desired outcomes, says T N C Rajagopalan.
The Indian Railways has proposed to introduce a modern coach "Anubhuti" with good ambience in the premier Rajdhani and Shatabdi trains providing higher travel comfort to passengers.
'Should you give a man fish, or teach him how to fish?' 'Lurking hidden in the new bout of welfarism seems to be an admission that the State can't deliver for the poor anything other than cash,' notes T N Ninan.
'Budget document should not be treated as something secret any longer.'
With the farmers' protest against the three new laws and in support of legalising the minimum support price (MSP) going strong, state governments have announced a slew of measures in their annual Budgets to placate farmers. The Centre kicked things off in the Union Budget by assuring farmers that the MSP would continue and coming out with a report card to demonstrate its commitment. However, these efforts don't seem to have yielded tangible results. In their respective Budgets, states chose to go a step further by announcing a variety of measures.
If P Chidambaram's Budget speech was an hour-long attempt at presenting his government's and his own record in a good light - as he is perfectly entitled to do - such a "marketing" effort invites the recounting of an alternative retelling of the record.
Conservation of cows in Rajasthan will entail a cost for those making rent agreements, mortgage papers and lease agreement as they will now pay a surcharge of 10 per cent on stamp duty for cow protection.
Investors would have much preferred a gritty, honest appraisal of the tough trade-offs.
The supplementary nutrition programme and the Poshan Abhiyaan under the Women and Child Development Ministry has been merged to launch Mission Poshan 2.0 to strengthen nutritional content, delivery, outreach, and outcome, according to the Union Budget announced on Monday.
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