'When you need to revive the economy, when you need to revive aggregate demand, you cut taxes.' 'But what's this government doing?' 'It's increasing taxes for the middle class and the vast majority of the poor on fuel, which has a ratchet effect on most other products.'
Speaking at CNBC TV 18's business leadership awards event, Sitharaman made it clear that she was not expecting a jump in the number either.
The aim of the exercise was to further simplify GST forms and make the filing process more user-friendly, the finance ministry said in a tweet, reports Dilasha Seth.
Market experts on why the bulls will be on the rampage first thing on Monday after the scrapping of enhanced surcharge on FPIs and other measures to ease the systemic liquidity squeeze and boost demand. Prasanna D Zore reports.
India Inc on Thursday pitched for continuation of reforms while ensuring tax and policy stability in the forthcoming Budget to prop up the economy hit hard by the COVID-19 pandemic. In the virtual pre-Budget consultation held with Finance Minister Nirmala Sitharaman, industry chambers said that government measures will help firmly entrench the nascent signs of recovery being currently seen in private investment. Capital expenditure by the government through enhanced infrastructure spending should in the meantime continue to support growth, CII president TV Narendran said.
With a rise in the number of cyber crimes and hacking, and many putting a question mark on safety of Aadhaar data, the FM might bring proposals in this regard and allocate funds separately.
Loans for Indian airlines have dried up as banks have become cautious to lend to the sector.
Credit to priority sectors as well as small and medium industries will be discussed to find ways to accelerate economic growth.
At a pre-Budget meeting, the FM was asked to ensure that NBFCs come out of the liquidity crisis they are facing with the help of RBI. They also spoke about the futility of trying to achieve a 3 per cent fiscal deficit target over the medium term.
These new coins will be made available for public use shortly, said Sitharaman.
The e-commerce sector is also fraught with redundant taxation laws that need immediate overhaul
It is learnt that the camp office in Lviv would be able to coordinate the evacuation of Indians to Poland and Hungary while the one at Chernivtsi would facilitate exit to Romania.
Two years ago, India was touted as a rare bright spot in a gloomy global economy with GDP growth outpacing a slowing China.
While India's GDP growth slowed to five-year low of 5.8% in Q4, China grew at 6.4%.
'If the Chinese were keen to mend fences with India, they would merely have to withdraw their troops in Eastern Ladakh.' 'They have not done so and they have not said that they will do so.'
Junking of old Rs 500 and Rs 1000 notes, he said, will help the world's fastest growing major economy to move towards less cash economy and digital payments that will help shore up tax revenues and check evasions.
M&M was the top gainer in the Sensex pack, rallying around 6 per cent, followed by SBI, ITC, NTPC, Bharti Airtel and ONGC. On the other hand, Bajaj Finance, HDFC, Bajaj Finserv, Titan, Sun Pharma and Dr Reddy's were among the laggards. NSE Nifty inched up 1.40 points to its fresh closing record of 14,564.85.
Israel's newly elected Prime Minister Naftali Bennett said on Monday that he was looking forward to working with his Indian counterpart Narendra Modi to further develop the 'unique and warm relations' between the two democracies.
Jaitley said that when cash is deposited in the banks, it loses anonymity and can be identified with its owner.
Shortage of ICU beds, oxygen, ventilators, vaccines, doctors, nurses and crematorium space in India has dominated headlines around the world in the past few weeks with Covid-19 cases surging beyond control and the government failing to deliver. Yes, election rallies, Kumbh Mela, blatant flouting of social distancing and mask protocols coupled with a messy vaccination process are said to be responsible for the health crisis of colossal proportions that India is facing today. But an analysis of Budget speeches made by finance ministers over 75 years also offers a glimpse of how low on the priority list healthcare has featured for the political class and policy-makers, which is a significant reason for the current situation.
Former RBI governor Raghuram Rajan, who faced a stinging attack from Finance Minister Nirmala Sitharaman for presiding over the "worst phase" of the Indian banking sector, on Thursday reminded her that two-third of his tenure as the head of the central bank was under the Bharatiya Janata Party government.
He also reiterated India's strong support in the fight against terrorism with Sri Lanka, which saw the country's worst terror attack on Easter Sunday.
R S Gujral shifted after controversial taxation proposals during his tenure
Referring to demonetisation of high value currency notes, Jaitley said it was well received as 'imandari ka utsav.'
There's a 13 per cent increase over last year, in an effort to put its flagging revenues back on track.
There are no regulations governing virtual currencies in India and the RBI has not given any licence to any entity/company to operate such currencies.
Take some time off to write a postcard to the finance minister, tell Mr Arun Jaitley your wishlist for Union Budget 2018.
These houses will have amenities such as LPG, electricity and toilets, she said.
The NDA government will be following the footsteps of its predecessor, the UPA, which had introduced the concept of "loan mela" to boost credit by directing banks to lend to people through public meetings.
Wang arrived in Delhi on Thursday evening in the highest-level visit between the two countries after the ties came under severe strain following the military standoff in eastern Ladakh that began nearly two years ago.
He rejected suggestions that the Pak-Saudi statement was against India's push at UN.
The finance ministry will kick-start the exercise to prepare the Union Budget for financial year 2022-23 (FY23) from October 12, according to an official notification released on Monday. "The pre-Budget meetings as well as the meetings to discuss the revised estimates will start from October 12 and will continue till the second week of November," according to the Budget circular of the Department of Economic Affairs' Budget Division. The Union Budget is expected to be announced on February 1, as has been the practice of the past few years.
RJ Malishka has a message for the BMC! Who's listening?
Chidambaram said he would count every additional rupee the government infuses into the economy and examine what the poor, hungry and devastated migrant workers get after walking hundreds of kilometres to their home states.
This brings its tax treatment on par with the Prime Minister's National Relief Fund.
India has maintained that there can be no talks with Pakistan unless it stops supporting terrorists.
'Increased allocations for MNREGA could have provided the much needed push to rural demand and consumption at a time when recovery continues to remain uneven.'
Israeli Prime Minister Benjamin Netanyahu on Friday expressed 'full confidence' in the Indian authorities in ensuring the safety of Israelis and Jews in India following a blast close to the country's embassy in New Delhi.
The FM said an announcement with regard to the additional steps will be made after consulting Prime Minister Narendra Modi.
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