The threshold limit for deduction of tax at source has been raised for unusual income such as winnings from horse race, commission
The free food scheme is driven by electoral considerations, but its long-term fiscal risks outweigh the short-term gains, cautions A K Bhattacharya.
'I'll give it to the vaccine manufacturers without guarantees, take the payment in advance and give me the supplies.' 'The moment you give me one lot of supply, I'll give you more.'
On March 13, Minister of State for Finance Pankaj Chaudhary had tabled the second batch of supplementary demands for grants in the House amounting to a total of Rs 2,70,508.89 crore.
The government will seek Parliament's approval for Rs 37,000-crore additional spending on infrastructure development in the second batch of supplementary demands for grant. Earlier this month, Finance Minister Nirmala Sitharaman had announced additional budget of Rs 25,000 crore as capital expenditure (capex) on roads, defence, water supply, urban development and domestically produced capital equipment. Besides, the central government approved issuance of a special interest-free 50-year loan to states of Rs 12,000 crore for infrastructure development.
NSO Group, an Israeli surveillance software company, has been under increasing attack following allegations that its Pegasus phone spyware was used for surveillance on journalists, activists and political leaders in several countries including India. NSO has denied any wrongdoing.
The government has spent a little less than one-third of the Budget estimate of capital expenditure, it can still spend about Rs 20,000 crore this year without disturbing its fiscal deficit target.
India's fiscal deficit shot up over 23 per cent to Rs 3.80 lakh crore in the first eleven months of this fiscal
Revenue from its IT services business rose 9 percent to $1.86 billion.
Railways to have functional autonomy, bear salary burden
16% jump in unrealisable tax demands that are not under dispute.
What is required from government is intellectual framework.
A substantial expected increase in the Treasury Bill floatation could also contribute to a tightening liquidity situation, the report said. These included a 0.50 per cent cut in cash reserve ratio with effect from January 17, a 1 per cent reduction in the reverse repo rate with immediate effect and a slashing of the repo rate by 1 per cent from 6.5 per cent to 5.5 per cent.
The government must expedite its plan for asset sale and privatisation, both of which hardly got any mention in the Budget speech, points out A K Bhattacharya.
NDA government has shunned populism.
Pencilling in a GDP growth in third and fourth quarters, SBI Research on Wednesday revised its contraction forecast for the current fiscal year to 7 per cent. The agency had earlier forecast a 7.4 per cent contraction in 2020-21 GDP numbers. In April-September, the economy contracted 15.7 per cent but the second half may see a surprise 2.8 per cent growth, if the SBI analysis turns out to be correct.
Let there be a rule that if the Budget is not passed and funds cannot be drawn from the Consolidated Fund of India, there will be a government shutdown as it happens in the United States, says A K Bhattacharya.
Bollywood and Hollywood come together to keep theatres occupied and ensure a yet another bountiful weekend at the box office.
In return, BSNL should be allotted 1.2 MHz in the 1800-MHz band in each circle, subject to some conditions.
The service conditions and judges' remuneration are not alluring .
Railways is expecting investment through various partnerships.
Finance Nirmala Sitharaman on Friday asked various ministries to try to spend more than their capital expenditure targets as well as explore public private partnerships for viable projects. During a meeting with senior government officials to discuss the infrastructure roadmap, she also urged the ministries and their CPSEs to ensure clearance of Micro, Small and Medium Enterprises (MSME) dues at the earliest. This was the fifth review meeting by the finance minister with ministries and departments on the infrastructure roadmap.
It is estimating that this would help monetise assets worth Rs 10,000 crore.
"The higher realisation of taxes in third quarter was associated with reduction in revenue and fiscal deficit," Minister of State for Finance S S Palanimanickam informed Rajya Sabha while tabling the statement on third quarterly review of receipts and expenditure for 2007-08.
Beside manufacturing, deceleration was also witnessed in sectors like agriculture, construction and electricity, gas and water supply.
Siddaramaiah, who hails from the shepherd Kuruba caste, holds the record for presenting the highest number of Budgets in Karnataka -- 13 so far. He has often spoken about how he was mocked in 1994 before he presented his first Budget. 'Some people asked, "Can he count sheep?",' Siddaramaiah told a regional news channel.
Prime Minister Narendra Modi had announced a relief package of Rs 20 lakh crore or about 10 per cent or GDP last week. However, many of the measures unveiled have been in the form of moves like loan guarantees which do not entail an immediate fiscal cost.
The Indian Navy is constrained by its lowest budgetary allocation since 2011-2012, reveals Ajai Shukla.
'Given the 50 per cent or thereabouts increase in borrowing that has been announced, it is a reasonable estimate to say that at this time, an increase of 1.7-1.8 per cent on the 3.5 per cent budgeted fiscal deficit target is being anticipated,' Chief Economic Adviser Krishnamurthy Subramanian said on Friday.
There are about 15.3 crore LPG consumers in the country.
In fact, no other recent Union Budget has held so much significance for the Indian economy as the one to be presented in about six weeks from now, notes A K Bhattacharya.
Expressing determination to eliminate "all delays" in modernisation of the armed forces, the government on Thursday hiked the defence budget by a whopping 23 per cent to Rs 77,000 crore as against the revised estimates of Rs 63,000 crore.
Direct tax collections increased by 41.8 per cent to Rs 1,44,286 crore (Rs 1442.86 billion) during the April-December period this fiscal due to continued buoyancy in corporate earnings.
The total salary and pension bill of the central government, which will also include Railway employees, will go up from estimated Rs 4.33 lakh crore to Rs 5.35 lakh crore during 2016-17
The announcement of a deferral is expected to be part of Finance Minister Arun Jaitley's Budget speech on February 29.
In spite of all the talk of helping the aam aadmi, the outlay under the Indira Aawas Yojana (IAY) for the rural poor in 2009-10 is more or less the same as in 2008-09 (revised estimate).
The revenue from GST for the current fiscal has been pegged at over Rs 4.44 lakh crore, while for next fiscal it is Rs 7.43 lakh crore.
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