The Plan allocation for the power sector has been doubled from Rs 2,230 crore in 2009-10 to Rs 5,130 crore in 2010-11. The allocation does not include allocations for Rajiv Gandhi Grameen Vidyutikaran Yojana (RGGVY). This was announced by the Finance Minister, Pranab Mukherjee in his Budget speech in Parliament on Friday.
The decision to have a symbol for Rupee was taken by the government last year. It was also decided to invite designs from the public for the new symbol.
Reserve Bank Deputy Governor Michael Patra on Wednesday said the central bank's views about cryptocurrencies might have delayed the government's proposed legislation on crypto assets. Emphasising that the Central Bank Digital Currency (CBDC) will be introduced in FY23 as announced by Finance Minister Nirmala Sitharaman in the Budget speech, Patra said India will proceed very gradually on the subject as there are concerns on privacy, its impact on monetary policy formulation and energy intensity. The government had plans to introduce a bill on cryptocurrencies like Bitcoin during the Winter Session of Parliament in November-December 2021 but did not introduce it.
Finance Minister Nirmala Sitharaman spelled out water, its management, clean rivers as one of the 10 points of vision for the next decade.
Finance Minister Nirmala Sitharaman in his Budget speech said that India's FDI inflows in 2018-19 grew by 6 per cent to $64.37 billion.
The government contained its fiscal deficit, the gap between overall expenditure and receipts, at 4.7 of GDP during 2010-11 much lower than the revised estimate of 5.1 per cent, a development which provide much needed comfort to the Centre fighting stubborn inflation.
As per existing provisions, senior citizens aged 60 years and above are eligible for concession in the basic fares of Mail and Express trains, and all inclusive fares of Rajdhani, Shatabdi and Jan Shatabdi trains.
Asked about the BJP's claim that its performance in southern states will be exemplary, Tharoor said, "The claim of an 'exemplary' performance is yet another product of the BJP's propaganda mill."
Only salaried individuals, pensioners or those earning interest income can use the new form.
Income Tax Return forms in India are like the Golmaal series of movies. Every two years there is a new one.
Simplification of India's tax codes including stamp and other duties has to be an end objective by itself and the introduction of DTC and GST should not be delayed by protracted discussions.
FM's decision to make PAN card a neccessity for financial transactions has worried life insurers, who will find it difficult to tap rural India with this requirement.
Railway Minister Lalu Prasad has drawn up an integrated security plan for the railways.
The government on Monday said low-cost housing loans of Rs 15 lakh will be eligible for one per cent interest subsidy, which will help in increasing the demand for such housing.
Finance Minister Pranab Mukherjee on Monday said the Direct Taxes Code (DTC), which will replace the Income Tax Act, is proposed to be implemented from April 1, 2012."
The new Goods and Services Tax (GST) is broadly as announced by Pranab Mukherjee in his Budget speech in July, and will comprise two parallel systems.
The Duronto train, which will run thrice a week, will leave Mumbai every Tuesday, Thursday and Sunday at 2015 hours and will reach Nagpur every Monday, Wednesday and Friday at 0745 hours, a railway statement said on Friday. Similarly the Nagpur-Mumbai Duronto will depart from Nagpur every Monday, Wednesday and Friday at 2025 hours and arrive at Mumbai on every Tuesday, Thursday and Saturday at 7-55 am, it said.
The government is likely to file draft papers for the mega initial public offering of LIC with market regulator Sebi by next week, while a portion of the issue would be reserved for anchor investors, a top official said on Wednesday.
Despite the reforms of the 1990s, the country's corporate structure hasn't transformed in any major manner.
In his Budget speech, finance minister Pranab Mukherjee said the stimulus package given in February this year has been extended from June 30 to December 31 this year.
Gandhi, who is usually flanked by senior party colleagues, was also greeted by both President Droupadi Murmu and Vice President Jagdeep Dhankhar.
In his recent Budget speech, the finance minister reiterated the government's plans to make India "slum-free" within five years.
Just 6.4% of branches owned by new private sector banks are in the rural areas
The government hopes to implement direct tax code from April 2011.
Divestment in India has been a painfully slow process. Will the government finally press the gas?
The allocation was part of the budget 2014-15 presented by Finance Minister Arun Jaitely on Thursday.
Even if the same party returns to power, what is important to debate is that having introduced an entitlement, how challenging it is to reverse such decisions, says Mukesh Butani.
The Union Budget 2021-22 has made it easier for sovereign wealth funds and pension funds to invest in Indian infrastructure projects, but some of the new rules may need more clarity, experts said. The proposed regime requiring investments through holding companies may have adverse tax implications for such funds and may create an arbitrage between the new and old projects, they said. Besides, the ownership structure of holding companies through which investments are to be made requires further clarification, they added.
The details of the BWA auction winners are still awaited from the Department of Telecom.
The Opposition accused the government of bringing a populist budget.
A good tax system should minimise the cost of collection, compliance cost and the cost to the economy in terms of the distortions it creates while generating revenues.
As the adjournment of Parliament for an indefinite period with the Rajya Sabha also adjourning sine die kickstarts the final countdown for the general elections, Modi said the last five years were a period of "reform, perform and transform" with the country moving towards "big changes" at a fast pace.
'How does it matter to me if a foreigner comes, starts an industry and makes India a $5 trillion economy when I am dead?'
"The underlining theme with which we have been working till now is that we trust the taxpayers and from purely an enforcement agency, we are shifting our focus to being a service-oriented department," says CBDT chairman Pramod Chandra Mody.
The Railways have slashed service charges levied on purchase of e-tickets by half from April 1.
Budget for women and children welfare increased from Rs 1,56,528 crores to Rs 1,84,632 crores for 2017-18
The divestment department has lined up a host of companies.
Finance Minster Pranab Mukherjee in his Budget Speech in Parliament on Friday proposed to increase the Plan outlay for the Ministry of New and Renewable Energy by 61% from Rs 620 crore in 2009-10 to Rs 1000 crore in 2010-11.
In a bonanza to farmers, the government on Friday announced a subsidised five per cent interest rate on crop loans on timely repayment, while proposing a 15 per cent hike in credit made available for farm sector.
