The main responsibility for producing the Budget rests with the Budget Division of the Department of Economic Affairs in the finance ministry
It was not immediately clear when Garg submitted his voluntary retirement scheme application to the government. It was also not known if the government would accept the application. If he hadn't applied for VRS, he would have retired from government service at the end of October 2020 on attaining of 60 years of age. Garg did not answer phone calls seeking his comments.
The Department of Telecom, Department of Industrial Policy and Promotion, Ministry of Home Affairs, Ministry of External Affairs and the Department of Economic Affairs had to give their comments on the proposal, sources said.
The differences revolved around the two topics of how much reserves the RBI should carry and whether the finance ministry had precipitated matters by invoking Section 7 of the RBI Act, that allows it to give directions to the RBI in public interest.
This is the first hike in about a decade, signaling a recovery.
Indian Railways is in talks with Reliance Jio Infocomm to allow the Mukesh Ambani-led telecom major's use of its towers. The aim is seamless mobile and internet connectivity for passengers along the 67,368-km of tracks. The Railway Board has entrusted its RailTel Corporation arm to work on the modalities with Jio. The Jio tie-up is expected to bring down its telecom bill by at least 35 per cent from this financial year.
Ernst & Young LLP India has been appointed as transaction adviser for the strategic divestment process.
PSBs have been requested to reach out to MSMEs to provide bill discounting to them against their dues since they suffer the most from shortage of cash.
'So far we have paid our salaries and pension in full because we had some reserve fund.' 'But we cannot afford to do so for more than another three months.'
The senior leader said there an all-round support for Sonia and Rahul Gandhi is "apparent to anyone who is not blind".
The decision will help farmers earn an additional income of Rs 62,635 crore
In 2009, FinMin proposed to move regulators' reserves into public account. These accounts were finally opened in 2013-14. However, no funds have been deposited in it so far.
Three key babus will make room for a new set of officers to carry the baton of Budget programmes.
The RBI is understood to be dithering since it would want more clarity on the cost of the fiscal policies the new government would undertake before it decides to cut rates, even though it has pencilled in a lower gross domestic product growth rate for this fiscal year.
Prodipto Ghosh, presently additional secretary to the prime minister, has been appointed additional secretary, department of economic affairs, an official spokesman said on Friday.
"7.75 per cent savings bonds scheme notified. Would replace 8 per cent scheme. Will be effective from 10th January. This sequenced notifications and gap of a week was necessary to avoid overlap in cheques realisations," Economic Affairs Secretary S C Garg said in a tweet.
About 10,000 km of state highways were declared national highways during the last 10 years.
'Let us hope that this Budget delivers.' 'It needs 10 per cent plus real GDP growth in 2021-22, the rebound year,' notes Omkar Goswami.
The infrastructure spending target for 2020-25 was revised because of additional and amended data provided by central ministries, state governments since the release of the summary NIP Report in December 2019 when it was pegged at Rs 100 trillion.
Watal a 1978-batch Andhra Pradesh cadre IAS officer.
"Indian markets (are) well placed to absorb the US Fed rate hike. Gradual approach in future increases augurs well for emerging markets," Economic Affairs Secretary Shaktikanta Das has tweeted.
The World Bank's executive board unanimously selected 63-year-old Malpass, who is currently Under Secretary of Treasury for International Affairs, as the bank's 13th President for a five-year term beginning April 9.
WPI inflation rose to a 14-month high of 7.52 per cent, while the retail inflation was in double digits at 11.24 per cent in November.
"Cash is still quite high in the system. There is also stocking of Rs 2,000 notes in evidence. The expansion of digital payments is taking place all over the world. It is happening in India as well. The pace is much slower," S C Garg, who took VRS from government service after he was abruptly shifted out of the finance ministry, said in a note.
Parliament has approved a gross borrowing for Rs 7.1 lakh crore for the entire 2019-20 fiscal.
With a spate of clearances, including relief to companies facing delays in development of coal mines, the government is getting its act together.
'With the deaths of Jayalalithaa and Karunanidhi, the BJP and Congress thought that they had a chance.' 'They have conceded that power is with the Dravidian parties.'
JV will set up a full-service carrier based out of New Delhi.
'Several businesses like entertainment, hospitality, travel etc would never be the same again.'
The finance ministry on Wednesday said the government will borrow Rs 4.34 lakh crore in the second half of the current fiscal to meet its expenditure requirement amid COVID-19 crisis afflicting the country's economy.
A panel led by the secretaries of the DEA and the DIPP would conduct a quarterly review on the pending proposals.
The senior Congress leader's role has come under the scanner of investigating agencies in the Rs 3,500-crore Aircel-Maxis deal and the INX Media case involving Rs 305 crore.
Subhash Chandra Garg, the former finance secretary who was shunted out of the finance ministry within three weeks of Modi-2.0 government's first budget last year, on Saturday alleged that new Finance Minister Nirmala Sitharaman got him transferred out.
The regulator said that it is vested within its purview to regulate the bank account for payment systems and the settlement systems are finally posted in the books of account of banks with the RBI to attain settlement finality.
He laid stress on workers' connection with the ground and cited his own example when he was party in-charge for various assembly elections in the past.
Maturity extension for redeemable preference shares stuck due to lack of directions in FDI rules.
A record current account deficit on back of high gold imports too was pressuring the rupee value.
The Foreign Investment Promotion Board (FIPB) on Monday cleared Abu Dhabi-based Etihad Airlines buying 26 per cent stake in Jet Airways for Rs 2,058 crore (Rs 20.58 billion) with some conditions.
The Union Cabinet on Thursday cleared the Rs 2,058 crore (Rs 20.58 billion) stake sale deal between Jet Airways and Abu Dhabi carrier Etihad.
Apart from them, Chidambaram's wife -- Nalini -- has been chargesheeted by the CBI in the Saradha chit-fund scam for allegedly accepting a bribe of Rs 1.4 crore.
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