A bench headed by CJI asked the petitioner to approach the high court.
'The finance ministry's decision to accept the deficit target of 4.5 per cent in 2025-2026 appears to have emanated from its endorsement of the Finance Commission's view that the Indian economy will continue to remain impacted by the pandemic, adversely undermining its growth potential,' notes A K Bhattacharya.
The Constitution amendment bill for roll-out of GST is pending in Rajya Sabha for a long time.
This means taxpayers might continue to enjoy exemption on maturity of their investments
Delhi Chief Minister Arvind Kejriwal will on Wednesday lead a protest rally against the Narendra Modi government's land bill at Jantar Mantar in the national capital. However, the common man's minister, who in the past turned down security, has asked the Delhi police to keep the media at bay during the rally, said sources.
Vodafone Idea, which reported a loss of Rs 6,439 crore in the December quarter, said it had received letters from the department of telecommunications (DoT) directing immediate payment of dues amounting to Rs 54,000 crores after the SC judgment. "The company is currently assessing the amount that it will be able to pay to DoT towards the dues calculated based on AGR, as interpreted by the Supreme Court in its order dated October 24, 2019. The company proposes to pay the amount so assessed in the next few days," it stated.
Finance Minister Nirmala Sitharaman has brought down the budgetary allocation for the fertiliser subsidy for FY21 to Rs 71,309 crore, from the RE of Rs 79,998 crore for FY20, while increasing food subsidy to FCI through "ways and means advance" to Rs 50,000 crore for FY21, from Rs 36,000 crore in RE for FY20, and under the National Food Security Act (NFSA) to Rs 77,982 crore, from Rs 75,000 crore.
Such an economic environment tends to be positive for gold, the ultimate safe-haven asset. Since gold cannot be debased by central banks, it naturally gains in value.
Rediff.com does a quick checklist on what the two manifestos have to say on hot-button issues of the day.
The Reserve Bank of India on Friday decided to leave benchmark interest rate unchanged at 4 per cent but maintained an accommodative stance as the economy faces heat of the second Covid wave.
Trai's move is seen as a relief for the debt ridden sector and the industry body COAI expects that continuing with six paise mobile call termination charge will not have any impact on consumers as operators have already absorbed this charge in their recently increased mobile call and data rates.
People affected by the Navi Mumbai international airport insist they be allotted developed land as compensation, not cash as the land acquisition Bill, recently cleared by Parliament
Phantom FDI refers to investments that pass through shell companies that have no real business activities and are tailor-made to cut tax liabilities.
Move could fetch the exchequer Rs 14,000 cr
India will benefit hugely if the representation of women in Parliament is increased to a just level.
The agency has predicted that monsoon will also be a major factor.
In the new decade, the scene will change because the banks till recently had been challenged by the fintechs, but the techfins have now entered the arena, observes Tamal Bandyopadhyay.
When the Centre tries to encroach upon the subjects that are under the prerogative of the state, or where the centre tries to evade from any responsibility guaranteed to a state through a constitutional provision/obligation, it poses a threat to federalism.
Regardless of how the stalemate ends, the government needs to learn that regardless of its parliamentary strength it cannot take people for granted. A little bit of humility would do it a lot of good, recommends Virendra Kapoor.
His interaction was webcast live on Twitter.
Taxmen have come across instances where global firms - charged a withholding tax of 6 per cent - are underreporting the exact income they earned from an Indian user.
There has been criticism of the official statistics ever since MoSPI came out with new methodology to estimate the GDP on the base year of 2011-12 compared to earlier 2004-05.
'No one cares about fiscal deficit now. Or for that matter, inflation.' 'The focus is on growth and growth alone.' 'RBI needs to break the risk aversion of banks and infuse adrenaline in their veins', says Tamal Bandyopadhyay.
The Indian basket represents the price of Oman and Dubai sour grade crude.
Profitability and cash reserves have halved since the global financial crisis.
More rural women are having babies in government hospitals. Facilities have improved, but Bihar has is a long way to go in public health.
The buyout will cost LIC about Rs 100 billion, based on the Rs 248 billion market capitalisation of IDBI Bank as on Friday, and assuming it acquires a 40 per cent equity stake from the government.
Manny Pacquiao weighed in one pound lighter than American Floyd Mayweather after the Filipino was welcomed by deafening cheers from his supporters.
The government on Friday lowered its economic growth forecast.
Reliance Industries has made drastic changes in gas supply contracts that will jack up its KG-D6 gas price by 10 per cent over and above the new rate of $8.3 coming into effect from next month.
The North-West is expected to be hit the most.
New Delhi will spend in 2006-07 about the same on foreign arms as on education and health combined.
After assuming power in 2014 with a full majority of its own, the BJP-led NDA government started an ambitious process of reforming labour laws in the form of codes aimed at making the framework less cumbersome with a variety of alterations. It had planned four codes each for industrial relations, wages, social security and welfare, and occupational safety, health and working conditions. To this end, 35 central labour laws were to be converted into four codes that would have had the virtue of streamlining labour relations. But none of the proposed code Bills could be converted into a law principally because neither trade unions nor industry representatives came on board. They hold the key to India's low-growth-high unemployment paradigm but the government may struggle to push them through this time as well. Somesh Jha explains why
The Modi administration has been unable to initiate key reforms.
Stating that recent agriculture reforms have opened new opportunities, the RBI Governor said the farm sector is emerging as a bright spot.
"GST should not become a 'grossly scary tax'. It should be a 'good and simple tax'," Surjewala said.
The economy could grow at 6-6.5 per cent this fiscal year (2019-20 or FY20), said Chief Economic Advisor Krishnamurthy Subramanian, revising his earlier estimate of 7 per cent in the Economic Survey. In an interaction with Arup Roychoudhury, he said supply-side measures, including corporation tax cuts, will boost consumption and demand, and non-tax revenue may make up for shortfall in tax revenues.
The Constitution should not encumber these choices, specially limiting them to second-best or third-grade options.
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