Common items between Centre and states - bread, eggs, milk, vegetables, cereals, books and salt - will continue to be exempted.
Declining crude price translates into lower under-recoveries for OMCs
January inflation may undershoot RBI's 6% target.
A government panel examined the records of employees surveyed by Labour Bureau's quarterly enterprises surveys and mapped it with the EPFO's subscribers and found "unexplained variations" between the two.
Middle class constituted about 49 per cent of the total tax payees in financial year 2011-12
Prime Minister Narendra Modi defended Mr Rajan, but it would be debated why he took so long to dub criticisms like those against the RBI governor as improper.
In its letter, finance ministry has pointed to sections 35, 35A and 36 of the Banking Regulation Act, 1949, to highlight the powers and functions of the RBI as regulator
The RBI expects the assessment to show if the systemic failure was only in PNB or in the overall banking universe
Finance Secretary Hasmukh Adhia vacates his post on November 30 and Expenditure Secretary Ajay Narayan Jha, the second seniormost bureaucrat in the finance ministry, retires on January 31, the day before Jaitley presents the 2019-20 interim budget.
The sabre-rattling between parties on rival sides of the political divide over demonetisation showed no signs of softening on Saturday with the government accusing Congress of engaging in "fear mongering" and the latter hitting back calling the exercise a "not well thought out move" whose after-effects will last long.
NDDB had helped dairy farmers direct their own development, placing control of the resources they created in their own hands.
Jaitley's team presents a quintessential mix of foreign-educated, intellectual technocrats and seasoned bureaucrats
Modi govt faces extra spending burden due to policies like 7th Pay Commission and OROP
The country had imported 5.5 million tonnes of pulses last year.
Relax fiscal consolidation, boost public capex and reduce cost of finance, industry tells Centre
To be sure, this is not some stunning new revelation that our equity markets are beholden to foreign flows.
The Economic Survey said that a number of indicators -- GDP, IIP, credit, investment and capacity utilisation, point to a deceleration in real activity since first quarter of 2016-17 and a further deceleration since the third quarter.
Economist Arvind Panagariya has also argued for loosening deficit targets to boost capital spending
Arun Jaitley addressed a post-Budget press conference.
For now, the DMK can be expected to sound the bugle for Opposition unity at the national level, predicts N Sathiya Moorthy.
For his first Budget in July 2014, Jaitley inherited a fiscal deficit target of 4.1 per cent of GDP. From 4.1 per cent, the fiscal deficit came down to 3.4 per cent by 2018-19, with two slippages from the budgeted targets, in 2017-18 and 2018-19, the former due to introduction of the GST, says Arup Roychoudhury.
To cover most of the gap, the road ministry plans to raise $7 billion.
The stock market, the Survey felt, had run away from underlying real economy indicators and asked if this indicated rational confidence or irrational exuberance.
Earlier, the RBI cut its policy interest rate to 6.75 per cent.
GST reform has been hanging fire since 2006-07.
'Since the NDA took office in 2014, and aggressively since 2019, the Union government seems hell bent on centralising all power and resources, only to fail spectacularly.'
A wise politician would disarm his critics, try to take them along, co-opt them, or, at least, take the criticism in his stride. Developing a thick skin ought to be an essential part of any politician's toolkit, notes Virendra Kapoor.
FY16 GDP growth was seen at 7.5%, against 8.1-8.5% earlier.
Aakar Patel looks forward to Prime Minister Modi's speech at the bhoomi pujan for the Ram temple in Ayodhya next week. It will be entertaining and stirring, predicts Aakar, and make lots of promises that he most likely won't be able to keep.
The arrival of the June-September rains has been delayed.
GST council may propose a faster refund procedure, deferment of electronic way bill, further simplification of composition scheme
There is a need for tax reforms in the country in a bolder way, Singh said.
Room for rise of up to 2 percentage points, move to help meet higher expenditure need in FY17
ISB professor Krishnamurthy Subramanian tells Shobha Warrier/Rediff.com that Modi government's continuation of tax terrorism is driving away investors.
A tightrope walk ahead, especially as govt's fiscal deficit has already reached 99% of full-year estimates
The Rajya Sabha on Wednesday approved the biggest tax reform since Independence.
Improved performance of manufacturing, services and trade sectors helped boost GDP
The committee would submit its report in the next two weeks.
Panagariya has advocated a more liberalised spending, arguing that greater capital expenditure could relax some of the infrastructure bottlenecks facing the country.
If the new regime is introduced in 2017, the govt may lose out on cess, surcharge
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