Budget planners for now have been told to prepare with the assumption that GST will apply from April 1.
Unlike the first two stimulus packages, this time the focus would be on boosting demand.
Ahead of the Budget, the government has achieved almost half the divestment target of Rs 65,000 crore. FY23 divestment receipts are unlikely to be anywhere close to the budgeted target.
The loss of income has severely dented the loan repayment ability of small borrowers
Ahead of the 2023-24 Union Budget, the thinking at the top level of the central government is clear: Gross domestic product (GDP) growth of 6-6.5 per cent is a comfortable enough target for FY24 and the focus should be on fiscal consolidation to ensure that the sovereign cost of borrowing does not become prohibitively expensive in a high-interest rate environment, according to people in the know. Those aware of deliberations between the Prime Minister's Office (PMO) and the Ministry of Finance said while the Budget would look to strike a balance between infrastructure investment and welfare schemes, it is unlikely to be populist, though it will be the last full-year Budget before the 2024 Lok Sabha election. Incidentally, 6-6.5 per cent GDP growth is what the upcoming 2022-23 Economic Survey is expected to project for FY24.
The annual earnings of a non-executive chairman of a PSB is capped at Rs 10 lakh, inclusive of fees for attending board meetings. This is way below the compensation of the chairman of any private bank, reveals Tamal Bandyopadhyay.
An official said that people in the government were aware of the benefits as well as the drawbacks of issuing overseas sovereign bonds, and there will be consultations with all stakeholders.
Mudasir Ahmed, a businessman from Kashmir, tells Rediff.com's A Ganesh Nadar what he would like to see in Finance Minister Nirmala Sitharaman's Budget.
There is as yet no clarity on how the process of consulting with the RBI Governor, initiated under Section 7 of the RBI Act, would unfold in the coming days. The government is keen that its suggestions made in the public interest should be heeded by the central bank, says A K Bhattacharya.
It may sound bizarre, but incidents of public sector bankers dying by suicide could probably equal the number of such bankers quitting their jobs, reveals Tamal Bandyopadhyay.
The petroleum ministry's call for an immediate Re 1 cut in excise duty on diesel has been rejected by Finance Minister P Chidambaram.
The finance ministry on Wednesday allowed all private sector banks to participate in government-related business, like collection of taxes. pension payments and small savings schemes. At the moment, only few large private sector are allowed to conduct government-related business.
'An area of land has already been earmarked for their protected habitation.' 'There are also steps being taken to take care of the coral zone and mangroves.'
Indian start-ups raised issues, such as blockages in international wire transfers, disruptions due to threshold limits on withdrawals, lack of communication from US agencies, and the need for preferential access to credit, in a meeting with the government over the fallout of Silicon Valley Bank's collapse. Rajeev Chandrasekhar, minister of state for electronics and information technology, held a virtual meeting with over 450 members from start-ups, venture capitalists, and investors who have been directly affected by the closure of SVB. He assured them that the IT ministry would put together a list of suggestions and give it to the finance minister on behalf of start-ups.
Cos ask US treasury to discuss data localisation norms with Indian officials at all platforms the two countries would meet, including G-20, US-India Strategic Dialogue, and IMF Annual Meet.
The Centre has advised banks to make a 20 per cent reduction in expenditure related to non-core business activities, along with deferring "avoidable expenditure" on "purchase of staff cars", "refurbishment of guest houses" and on the interior decoration of administrative and back offices.
'People who come from IMF-World Bank backgrounds have no dynamism at all,' Subramanian Swamy said.
Ussue will be raised at the meeting of the Central Board of Trustees of the Employees Provident Fund Organisation on Tuesday.
For the startup ecosystem in India, the scorecard so far has been a mixed bag, observes Akhil Gupta.
The Department of Investment and Public Asset Management (Dipam) has asked ministries, government departments, and public sector undertakings (PSUs) to send a list of assets that can be monetised under the proposed National Monetisation Pipeline. The list will be used for creation of an asset monetisation dashboard, which will keep a track of such assets. The government, meanwhile, has asked CRISIL to prepare a road map for monetising assets of PSUs and government departments.
The Budget will indicate where the Modi government stands on reforms, growth and development.
The move will require modifications in Companies Act.
Your promise to protect bankers for their commercial decisions is a huge confidence booster, but how does one define a commercial decision? Are our investigative agencies well equipped to dissect lending decisions of bankers?
The decision had been communicated to the department of telecommunications, a senior official of the department told Business Standard.
The government and MMRDA are keen to develop the 22-km link, which will connect Sewri on the island city to Nhava Seva in Navi Mumbai, on an engineering, procurement and construction basis and not on the build-operate transfer model, considering past experience.
G C Murmu rarely speaks in public and when he does, his statements are always in lockstep with the thinking within this government.
States' demand for 5 years and Constitutional provision ruled out
A cut in rates would have encouraged the banks to lend aggressively on the retail front.
The Kolkata-based firm already has a presence in 22 states with over 2,000 branches and 5.9 million borrowers.
Proceeds may be used to partly pay off its Rs 46,570-cr debt
.jpg)
Diplomatic channels activated to keep India eligible for soft loans from World Bank affiliate, though rules show it's probably time we made way for the needier others.
Almost all infrastructure ministries continued spending on capex throughout the lockdown, even as the Centre tried to maintain some semblance of economic normalcy.
The combined fertiliser, food and petroleum subsidy budgeted estimate for FY19 is Rs 2.64 trillion, while the revised estimate is Rs 2.66 trillion. If the carrying forward to FY20 does not happen, the revised estimates for the major subsidies could actually cross Rs 3 trillion for the first time ever.
Of the 2,562 customer complaints received between January 2020 and March 2021, a majority relate to illegal apps. At least two dozen suicide cases have been reported, perpetrated by the harassment by loan app operators, points out Tamal Bandyopadhyay.
The proposals before the ministry is to hike the tax exemption limit from the existing Rs 250,000 per annum to at least Rs 300,000 if not 500,000.
Existing units stay operational; those approved may not be notified, land could be used for other purposes
Going a step ahead, the state government has suggested laying of very fast tracks to facilitate a speed of up to 350 kmph in the public-private partnership.
The world's largest cash transfer programme has eliminated around 40 million ghost connections
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances