10 vacancies in the Upper House after Rajya Sabha members were elected to the Lok Sabha.
Speaker Meira Kumar said in her valedictory address that the Lok Sabha lost over 23 hours and 34 minutes due to interruptions and forced adjournments, but it sat late for 30 hours and 52 minutes to transact important financial and other business.
The Parliament premises will sport a new look when the 18th Lok Sabha convenes for its maiden session in June as work is underway to integrate the entire complex, comprising four different buildings.
The govt and the opposition appeared set for a showdown in Parliament's monsoon session.
'Nearly 10 million people will benefit from the increase in the rebate limit for those earning up to Rs 12 lakh.' 'We expect all that money will come back into the economy in either savings, consumption, or investments.'
However, the Lok Sabha and the Rajya Sabha will use their respective chambers and galleries for the members to seat, as was the case earlier, they pointed out.
The Centre told the Supreme Court on Tuesday a new data protection bill is ready and will be introduced in the monsoon session of Parliament in July, as the apex court heard a matter related to privacy concerns of social media users.
She has shown shrewdness, sensitivity, and courage. All of these will be needed in ample quantities for the real challenge that will emerge after the elections, notes Shreekant Sambrani.
The resilience of the economy and strength of domestic demand will continue to make India an engine of growth amid the rapidly evolving global trade landscape as a result of US tariffs, Finance Minister Nirmala Sitharaman said in London on Tuesday.
She said crucial elections are going on now, and stressed that she is not important but the issues of the country are.
The finance ministry will kick-start the exercise to prepare the annual Budget for 2023-24 from October 10, in the backdrop of revival of the Indian economy and fears of recession in developed countries. The budget for the next year will have to address critical issues of high inflation, job creation, boosting demand, and putting the economy on a sustained 8 per cent-plus growth path. On Wednesday, finance minister Nirmala Sitharaman said inflation is no longer "red-lettered" and the priority for the government now is job creation and boosting growth.
With the Rail Budget scheduled to be presented in the Lok Sabha on July 3, Railway Minister Mamata Banerjee said on Wednesday that it will be a people's budget.
The rising goods and services tax (GST) and personal income-tax collections may bolster the Narendra Modi government's ability to announce new schemes or enhance existing ones.
Noting that the meeting time was 'unusual and history of sorts in the making', the governor, however, said the decision was taken as per the recommendation of the state Cabinet.
Finance Minister Nirmala Sitharaman on Monday called on President Ram Nath Kovind before presenting the Union Budget 2021-22. As per established tradition, the Finance Minister met the President at the Rashtrapati Bhawan before heading to Parliament. The Union Cabinet will meet at 10.15 am to clear the Budget.
Sources said the decision was taken at a meeting of INDIA bloc leaders, who met on Friday morning in the chamber of Leader of Opposition Mallikarjun Kharge in Parliament House.
The finance minister is likely to announce the government's vision for a tax-friendly regime by raising the I-T exemption limit from the current Rs 250,000 per annum.
The Union Budget delayed because of elections in five states will now be presented on March 16, four days after Parliament will begin its Budget session.
The General Budget will be presented on July 6 and the Railway Budget will be presented on July 3.
Finance Minister Nirmala Sitharaman on Monday tabled the Economic Survey 2021-22 along with Statistical Appendix in the Lok Sabha on the first day of the Budget session of Parliament. Later, the Lok Sabha was adjourned till tomorrow. The Economic Survey will now be tabled in the Upper House. The Budget Session of the parliament commenced on January 31 with President Ram Nath Kovind's address. The first part of the Budget session of Parliament will be held from January 31 to February 11 and the second part of the Budget session will take place from March 14 to April 8.
The supplementary demands for grants include a gross additional spending of over Rs 2 lakh crore, which would be matched by savings of over Rs 1.21 lakh crore.
The Insurance Regulatory and Development Authority of India (Irdai) has asked at least 10 general and life insurance companies to submit a detailed road map for their listing strategies by the end of this month, according to multiple sources with direct knowledge of the matter. "The regulator met four life and six general insurers last month and asked them to provide their listing strategies by the end of February," said one of the sources.
'The BJP's real weapons are Hindutva, organisation and finance.'
'Suddenly we had a new comprehension of affairs, which reminded that the luxury of politics floated atop a foundation by economics.' 'Along with this, finance ministers became crucial in molding the perception and reputation of Union Cabinets.' 'Governments couldn't afford a wrong person in that portfolio,' asserts Shyam G Menon.
The Budget Session will be held from January 29 to April 6.
A day after heated exchanges between the Aam Aadmi Party dispensation and the Centre over the Delhi budget, the Union home ministry on Tuesday approved the city government's financial document, paving the way for its tabling in the assembly.
'It won't be a V-shaped recovery. It'll be consolidation.' 'Investors might exit during that grind. It'll be painful.'
Titan, Nestle, Hindustan Unilever, State Bank of India, Larsen & Toubro, ITC, Zomato and Bajaj Finserv were also among the laggards. Adani Ports, IndusInd Bank, Tata Motors and HDFC Bank were among the major gainers.
Prime Minister Narendra Modi launched a scathing attack on Leader of Opposition Rahul Gandhi and the Aam Aadmi Party (AAP) in the Lok Sabha on Tuesday, accusing them of "speaking the language of urban naxals" and being "AAP-da" for the youth. He also took a swipe at former Congress chief Rahul Gandhi, saying those who entertain themselves by getting photo sessions done in huts of the poor will find the talk about the poor in Parliament boring. Modi also hailed his government's decisions in the Budget and said that the Ayushman Bharat scheme, which his government started for the poor, has been stalled by some states, leaving poor people in hardship.
JD-U chief whip Shravan Kumar said those defying the whip "will lose their membership" even as he maintained that it was a "routine exercise that takes place ahead of every assembly session".
The AAP chief stressed the need for an increase in healthcare spending, suggesting a rise to 10 percent of the GDP, along with the removal of taxes on health insurance premiums.
'When voting clause by clause on Waqf came up in the JPC, the TDP and JD-U supported the BJP on each and every clause.'
The Union Budget may be presented around the middle of March in view of the ongoing Assembly elections, Finance Minister Pranab Mukherjee indicated on Wednesday.
The government is learnt to have described the Union Budget as an annual constitutional exercise covering the entire country and not just a few states.
Rationalisation of income tax slabs, infrastructure status for digital services and incentives to hydrogen storage as well as fuel cell development were some of the suggestions made by various stakeholders at the pre-Budget consultation meeting convened by Finance Minister Nirmala Sitharaman. The customary pre-Budget consultation meetings were held with the finance minister virtually between December 15 and December 22, as per the finance ministry statement. More than 120 invitees representing seven stakeholder groups participated in eight meetings, scheduled during this period, it said.
Sources in the Delhi government said the ministry of home affairs has stopped the Kejriwal government's budget and it will not be tabled in the assembly on Tuesday.
With Valentine's Day falling on a Friday, travel is picking up as people look for quick getaways.
Cricket icon and Rajya Sabha MP Sachin Tendulkar may not be able to attend the first half of the Budget session of Parliament due to his engagements in the on-going India Australia cricket series.
EPS has had its way on most things, alliance-wise. A week earlier, he reiterated that he would not re-admit OPS and Sasikala Natarajan back in the party. It was a message not just to detractors in the AIADMK. It was even more so for the BJP leadership in Delhi. Even more important for the AIADMK was their demand for accepting EPS as the chief ministerial candidate of any alliance that the party would form, observes N Sathiya Moorthy.
The Upper House was earlier adjourned twice in the afternoon session when it took up the discussion on the Budget after Prime Minister Narendra Modi finished his speech on the motion of thanks on the President's address and the motion was passed.
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