Party leader Rahul Gandhi dubbed the Union Budget as a 'zero-sum budget', saying it has nothing for the salaried, middle class and the poor.
However, Jaitley's son-in-law had earlier issued a statement stating that his law firm had returned the retainership the moment they came to know that the company was involved in a scam.
The UN Security Council is scheduled to vote on Friday evening on a draft resolution on Russia's military operation in Ukraine as well as the escalating situation in the eastern European country.
Our last mile delivery stood out, she said, and promised that programmes will be accelerated and red tape will be reduced.
On August 15 last year, Prime Minister Narendra Modi announced from the ramparts of the Red Fort that the Indian Railways would launch 75 Vande Bharat Express trains by August 2023. Later, in her 2022 Budget speech, Finance Minister Nirmala Sitharaman announced that 400 Vande Bharat trains will be manufactured in the next three years, which are expected to cost between Rs 40,000 crore and Rs 50,000 crore. Those upbeat announcements come after a series of cancelled tenders, vigilance actions against officials and interdepartmental rivalry that delayed the addition of these iconic trains developed entirely indigenously by the Integral Coach Factory (ICF) in Chennai.
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 government's endeavour, she said, is to protect women in this country in collaboration with state governments.
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.
Heeding to demands made by several states, the GST Council on Friday put on hold a decision to hike the tax rate on textiles to 12 per cent and referred to a panel of state ministers to recommend rate by February, Union Finance Minister Nirmala Sitharaman said. The panel, the highest decision-making body for indirect taxes, met under emergency provisions after states made a request for deferring the tax rate hike on textiles, from the current 5 per cent, to be effective from January 1, 2022. Currently, the tax rate on manmade fibre (MMF) is 18 per cent, MMF yarn 12 per cent, while fabrics are taxed at 5 per cent.
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.
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.
'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.'
Credit to priority sectors as well as small and medium industries will be discussed to find ways to accelerate economic growth.
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.
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.
Loans for Indian airlines have dried up as banks have become cautious to lend to the sector.
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
Two years ago, India was touted as a rare bright spot in a gloomy global economy with GDP growth outpacing a slowing China.
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.
While India's GDP growth slowed to five-year low of 5.8% in Q4, China grew at 6.4%.
Jaitley said that when cash is deposited in the banks, it loses anonymity and can be identified with its owner.
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.
R S Gujral shifted after controversial taxation proposals during his tenure
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.
'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.'
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.
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.
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.
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.
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.
He rejected suggestions that the Pak-Saudi statement was against India's push at UN.
RJ Malishka has a message for the BMC! Who's listening?
India has maintained that there can be no talks with Pakistan unless it stops supporting terrorists.
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