Part of the dues has been pending since 1995-96 - the inception year of the Employees' Pension Scheme administered by the EPFO. The Centre also owes the EPFO more than Rs 1,000 crore towards the minimum pension scheme it had notified in September 2014.
Prime Minister Narendra Modi's leash on foreign junkets of his ministers and bureaucrats seems to have trickled down to states as well.
Rs 275 cr payment to Tata Power (SED) blocked for putting Indian part
The recent spate of technical glitches in aircraft has prompted the Directorate General of Civil Aviation (DGCA) to issue an order on July 18, making aircraft maintenance engineers (AMEs) with category B1/B2 licences the final authorities in certifying planes. This has put the spotlight on the availability of such personnel. According to the order, airlines were resorting to frequent one-off authorisation by the Category A certifying staff at transit stations, which is not in line with existing regulatory provisions.
'We can't have the best of both worlds -- large, efficient, world class government-owned banks, doing social banking and making profits. 'Why not set them free from the shackles of such obligations and run them as business units?' says Tamal Bandyopadhyay.
IMF projected India's economic growth at 4.25% in 2013-14.
As spending on infrastructure has three times the desired impact, the government's Rs 111 trillion National Infrastructure Pipeline should be accelerated: Assocham president, Vineet Aggarwal
865 million Indian adults require vaccination.
In its essence, GST is a national level system of value added taxation of goods and services, says Shankar Acharya.
Digital-pay companies see 10x growth spurt after demonetisation, report Ayan Pramanik & Shine Jacob/Business Standard from Bengaluru.
The trade deal, officials say, can lead to an effective trading bloc against the China-led Regional Comprehensive Economic Partnership.
The completely avoidable mess that the finance ministry found itself in was rather surprising, says Debashis Basu.
With the price of a cylinder touching Rs 800, it's becoming increasingly unaffordable to an already price-sensitive population, threatening to risk one of the most-celebrated campaigns of the Modi regime, reports Twesh Mishra.
As Germany took note of Rahul Gandhi's disqualification from Lok Sabha, the Bharatiya Janata Party on Thursday accused the Congress of 'inviting foreign powers' for interference in India's internal matters and the Opposition party hit back, alleging that its rival was attempting to divert attention from the Adani issue.
Last week, the government had introduced a fresh round of austerity measures, including bans on first class travel, creation of new posts and holding meetings in five-star facilities.
Many PSBs are in the process of rationalisation of ATMs
While players in the financial ecosystem are opening up to the idea of receivables funding for the sector, this market needs a regulator, which a Parliament panel feels only RBI can provide.
'Our competitiveness with China is very important.' 'If the exchange rate depreciates, it is good for us because it helps in our competitiveness.'
One of the big takeaways from the recently released data on India's merchandise trade is that gold imports have, once again, skyrocketed.
Arvind Kejriwal will monitor the work of various departments. Adarsh Shastri might also aid Kejriwal in this task. Somesh Jha reports
Move to hasten rollout and, if successful, set a precedent for new banking firms.
Abu Dhabi national carrier had bought 24 per cent stake in Jet Airways for $379 million in April.
The ecosystems of India and China today jostle against one another across Asia and much of the world.
'We asked them to withdraw these instructions immediately.
'We said, "If you don't withdraw, we are going to give a call that from tomorrow officers will totally boycott these instructions".'
The fourth finance ministerial meeting, to be held in New Delhi, will have Finance Minister P Chidambaram from the Indian side and Hyun Oh-seok, Deputy Prime Minister and minister of strategy and finance, from South Korea.
The onus to explain that the gold jewellery was inherited or bought from known sources of income would be on the owner.
'Willing to spend is different from when to spend and how much to spend'
Jaitley's team presents a quintessential mix of foreign-educated, intellectual technocrats and seasoned bureaucrats
With Prime Minister Narendra Modi emphasising the need to kick-start investment in the country, the project monitoring group (PMG) under the Cabinet Secretariat has asked various government departments to start monitoring projects for which clearances have been facilitated through this mechanism.
An RBI official said the supply of currency was adequate in the states facing a crunch at ATMs but the logistic issues led to the present situation
This week, as the I-T department scanned the deposits, reality hit them: Only a minuscule percentage of the Jan Dhan accounts had been used for money laundering.
The government managed to raise revenues by sending notices to high net individuals to did not file I-T returns last year.
Mulls ways to improve the bank's earnings, cut bad loans and step up credit recovery efforts
One crucial revenue source that can help the government achieve its fiscal-deficit target is the proceeds from the sale of its stakes in public sector companies.
The governance reforms, as an official put it, would bring in measures to track the performance of the executive-rank employees of the banks, intensively.
While the most obvious beneficiary of this roll-out will be manufacturers of FASTags, or the Radio Frequency Identification chips, a PwC report says implementation of a pan-India electronic toll collection system on national highways may help save approximately Rs 87,000 crore annually.
'There is tension between the zones all the time.'
State-owned companies have been set stiff targets to increase accountability as they get ready for divestment. Nikunj Ohri explains why meeting them will be challenging.
The divestment of Bharat Petroleum Corporation (BPCL) may hit a fuel price hurdle, according to officials dealing with the matter. They pointed out that the inconspicuous administered price regime could hamper the prospects for potential buyers of BPCL. A senior oil ministry official said public-sector oil-marketing companies (OMCs) take a hit when they sell petrol, diesel, and liquefied petroleum gas (LPG), three of the most popular petroleum products in the country.
