Finance ministry sources have countered CAG audit finding of central government wrongly retaining Rs 47,272 crore of GST compensation cess meant for states, saying temporary retention cannot be termed as diversion.
The CAG has found that the Union government in the very first two years of the GST implementation wrongly retained Rs 47,272 crore of GST compensation cess that was meant to be used specifically to compensate states for loss of revenue.
The Civil Aviation Ministry is looking to increase air seat entitlement to Dubai by 20%.
The Prime Minister's Office has refused to give information on the expenses incurred on Prime Minister Narendra Modi's recent visit to Singapore saying it is too "vague" and "wide".
The trio said the top court had relied upon 'patently incorrect' claims made by the government in an unsigned note given in a sealed cover in the court.
India on Wednesday cancelled its Rs 3,600 crore deal with Anglo-Italian firm AgustaWestland for the supply of 12 VVIP choppers to the Air Force in view of charges that kickbacks to the tune of Rs 360 crore had been paid in it.
The Reserve Bank of India (RBI) has approved a three-member committee of directors to run the day-to-day functioning of cash-strapped Lakshmi Vilas Bank.
Retirement fund body EPFO paid lesser amount as interest on PF deposits of over five crore subscribers than its earnings between 2007-08 and 2010-11, government auditor CAG has said.
The Comptroller and Auditor General detected financial irregularities of over Rs 10,000 crore in Bihar government departments during the financial year 2012-13.
The Centre's revenue from GST registered a decline of 10 per cent in 2017-18 compared to revenue of subsumed taxes in 2016-17.
A better system of operating central and state PSEs, and indeed all commercial activities of the government, would require eliminating the current system that oversees them.
As corporate India gears up to be GST-ready, the ongoing litigation and tax dispute cases are something most businesses are cagey about.
The Comptroller and Auditor General of India has criticised the army for "unauthorised" utilisation of helicopters of the aviation corps including sorties undertaken on Saturday, Sunday and holidays which cost the exchequer nearly Rs three crore extra as unauthorised expenditure.
The four officials were asked questions related to the UPA government's '20:80' gold import scheme, which was cleared by Chidambaram on May 13, 2014, barely three days before the counting of votes of the general election
The MiG29K and MiG29KUB, the aircraft carrier's primary fighters, spent more time in the hangar than in the air, with fleet serviceability remaining below 50 per cent, reports Ajai Shukla.
Rahul Khullar's guiding credo was that a civil servant must never lose sight of his client: The little guy. The evil men are those who are decision-makers but abdicate their responsibility of taking decisions, leading people to lose confidence in public institutions.
Raja said he had, in fact, brought a 'revolution' in the telecom sector.
'It is not as bad an airline as it is made out to be: We serve wonderful food, the leg space is more, our cabin crew is warm and friendly.' 'The customer needs to be apprised of these things.'
Justice Bobde has decided several key cases and was part of the recent historic verdict that cleared the way for the construction of a Ram Temple at the disputed site in Ayodhya.
The Supreme Court on Wednesday stated that the three-member panel of Vikram Limaye, Amitabh Choudhary and Anirudh Chowdhury will represent the Board of Control for Cricket in India at the International Cricket Council's meeting, starting in Dubai, on Thursday.
They were participating in a debate on the bill for giving effect to various compliance relief measures for taxpayers, including extending time limits for filing returns, in the wake of the coronavirus crisis and tax benefits for donations to PM CARES Fund.
Government is framing a rule that will make it compulsory for regulators like Sebi, Irdai and PFRDA to deposit a significant portion of their reserves into the Consolidated Fund of India.
PNB has rich experience in the integration of commercial banks.
The 'context' of the launch of GSAT-15 highlights that India has much ground to cover in the transponder arena while in satellite navigation arena ISRO's progress has been satisfactory, says Ajey Lele.
A homoeopathic state of mind pervades our thinking in governance and infrastructure-building. Do it in small, harmless doses, but nothing bitter, sharp, or bloody, says Shekhar Gupta.
The AG said the country needs the Rafale jet to defend itself 'from F-16 fighter planes that recently bombed us'.
Former cricketer Gautam Gambhir, actor Manoj Bajpayee, mountaineer Bachendri Pal, ISRO scientist Nambi Narayanan and Odisha tea seller D Prakash Rao were among the recipients of the honour.
Air India needs to up the ante in order to compete with rival carriers.
Sanitation is always clubbed with other departments, which lead to its neglect, says Devanik Saha.
'Why do we make finance ministers go into contortions, to tell us that near 6% is 3.5%?' 'Why not encourage more open and full accounting so that the country knows the real picture,' asks T N Ninan.
The Supreme Court judgement will hopefully ensure that those in power and authority will hesitate before allotting precious natural resources that belong to each and every citizen of the country in an arbitrary and corrupt manner, says Paranjoy Guha Thakurta.
The government had last year excluded those with an annual income of more than Rs 10 lakh from LPG subsidy
The Board of Control for Cricket in India president Anurag Thakur is set for a showdown with current International Cricket Council chairman Shashank Manohar during the ICC Board meet in Cape Town, where the richest cricket board will specifically push for a three-point agenda that includes bringing back the 'Big Three' module.
'We feel there is definitely something murky in the system.' 'Will anyone believe that Nirav Modi will go to a branch and bribe a low-level officer?' 'Just look at the people with whom he had moved around.'
"How many more lies will be peddled to sustain a sinking dynast? India, certainly deserves better," Jaitley said.
Public Money, Private Agenda -- The Use and Abuse of MPLADS by A Surya Prakash provides a comprehensive look at the Members of Parliament Local Area Development Scheme, which was launched 20 years ago in 1993. Excerpts from the book.
The government has suffered a loss of Rs 12,488.93 crore (Rs 124.88 billion) due to under-invoicing of gross revenue by six telecom companies including Reliance Communications, Vodafone and Bharti Airtel, the CAG said in a damning report on Friday.
The bench said that 'argument on the preliminary issue and the claim of privilege raised by the Government of India is reserved'.
The government has reached out to investors to apprise them about Life Insurance Corporation of India's (LIC's) growth and prospects as it prepares for the country's largest initial public offering (IPO). Preliminary presentations have been made to inform investors on how the organisation is being restructured ahead of the IPO, along with its financials, so that the IPO process can be hastened once its embedded value is derived. "A detailed presentation has been made to investors, giving them details on how LIC is positioned beyond what is known. "This includes how LIC is being restructured ahead of the IPO, and investors are keen to know that," said an official. In the Finance Bill, 2021, the government had proposed a slew of changes to the LIC Act, 1956.
De-allocation could raise import bill by $3 billion, add to coal shortage.
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