In the last meeting of the empowered committee on August 18, Madhya Pradesh, Gujarat, Tamil Nadu, Chhatisgarh, Himachal Pradesh, Karnataka, Uttarakhand, Uttar Pradesh and Bihar had opposed the draft, while Punjab, Kerala, Delhi, Haryana, Maharashtra, Orissa, West Bengal and Andhra Pradesh had broadly accepted it. Their stands remained more or less the same, said a finance ministry official.
Chhattisgarh Chief Minister Bhupesh Baghel has claimed the movie portrays half truth and only shows violence without conveying any message.
The finance ministry (FinMin) has asked Infosys to work on ways to extract and access taxpayers' real-time data faster and accurately as it is crucial for taking decisions on policy changes. While reviewing progress of the income tax portal 2.0, which had faced glitches, the officials also told the Infosys team to increase the scope of pre-filled data in the ITR forms. Senior officials in the ministry held a review meeting last month with the Infosys team and officials of the Central Processing Centre (CPC).
Dispatch of the vaccine is likely to start by early Tuesday morning, sources said. According to the order placed, each dose of the vaccine has been priced at Rs 200 and with GST of Rs 10, it would cost Rs 210.
According to reports, eight hours have been allocated by the speaker for discussion on the tax reform bill.
Maharashtra Chief Minister Uddhav Thackeray met Prime Minister Narendra Modi on Tuesday and discussed issues related to the Maratha reservation, pending GST compensation and the proposed Metro car shed in Kanjur.
The government on Tuesday set the maximum price private hospitals can charge for the three COVID-19 vaccines currently available in the country -- Covishield Rs 780 per dose, Covaxin Rs 1,410 and Sputnik V Rs 1,145.
'Higher than expected inflation in the US or the European Union, faster than expected tightening by the major central banks, break out of a war in Europe, and withdrawal of portfolio equities from the emerging markets are factors which can result in equity market corrections.'
India has a history of jugaad, and retrofitting vehicles is one such manifestation of the legendary Indian skill. Not so long ago autorickshaws and small Marutis used to strap on subsidised LPG cylinders and power themselves to a cheap ride. There were the odd explosions, lives were lost, but the jugaad continued. Then compressed natural gas (CNG) was introduced in Delhi following a court order. Initially, customised CNG kits were fitted to conventional (internal combustion engine or ICE) autos cheaply, enabling commuting at less than half of what you would cough up for diesel. The industry is better organised now with Suzuki and Hyundai designing CNG-fired vehicles, and Mahindra and TVS manufacturing liquefied petroleum gas (LPG)-powered three wheelers.
'Today, after mustering courage, I am resigning from the party post and primary membership of the Congress'
'Those who should have been affected benefitted from demonetisation.' 'And the vast majority who should not have been affected lost out.' 'That is the ultimate result of demonetisation.'
Modi praised Tamil Nadu as a special place and lauded the Tamil language as eternal and its culture as global.
While the common man is facing all these issues, those in power at the Centre are not ready to pay attention to these issues
Generally, before adjourning the house sine die the chair reads out the statistics about the business transacted in the house in detail.
Assocham president Niranjan Hiranandani said his talks with government officials showed dues to industry and states were pending in the form of refunds of income tax, value-added tax, and GST, and compensation, payments to discoms in the power sector, fertiliser subsidies, etc.
'The finance minister said, the MSME is the backbone of the economy. My question is, what have you done for the sector?'
Prime Minister Narendra Modi hosted a number of prominent Sikhs at his residence on Friday and highlighted the works done by his government for the community.
'Non-separation of religion from politics is India's most daunting challenge'
The Maharashtra CM said he doesn't think the Centre has a plan on settlement of Hindu immigrant from other countries.
During the second day of discussion in Rajya Sabha on the pandemic and steps taken by the Centre, Sanjay Raut (Shiv Sena) took exception to the criticism by some Bharatiya Janata Party leaders, including Rajya Sabha MP Vinay Sahasrabuddhe, of the measures taken by the Maharashtra government to control the pandemic.
For his first Budget in July 2014, Jaitley inherited a fiscal deficit target of 4.1 per cent of GDP. From 4.1 per cent, the fiscal deficit came down to 3.4 per cent by 2018-19, with two slippages from the budgeted targets, in 2017-18 and 2018-19, the former due to introduction of the GST, says Arup Roychoudhury.
'Good investment opportunities should not be missed.'
A large percentage of total tourism business activity of India, which is estimated at $28 billion+ in forex and upwards of Rs 2 lakh crore in domestic tourism activity will be at economic risk through the year.
Even with the possible expenditure roll-overs and off-budget financing, the fiscal deficit target will not be met. The FRBM Act, after its amendment in 2018, allows a fiscal deficit slippage of not more than 0.5 per cent for any given year, provided there are justifications. These justifications include war, national security, severe collapse in the agriculture sector, a major natural calamity, big structural economic reforms, or the decline in real output growth of a quarter by at least 3 percentage points below its average of the previous four quarters.
Petrol price on Thursday was cut by Rs 6.07 per litre and diesel price by Rs 11.75 in Delhi as oil companies passed on a record reduction in excise duty rates to consumers. Buckling under pressure, the government had on Wednesday cut excise duty on petrol by Rs 5 per litre and that on diesel by Rs 10 a litre to give reprieve to consumers battered by record high retail fuel prices. Since states charge local sales tax or VAT not just on the base price but also on the excise duty levied by the centre, the total incidence of price reduction is higher.
Responding to a question on the Rajasthan government's claim that there is a shortage in COVID-19 vaccine stock, Union Health Secretary Rajesh Bhushan said the central government regularly monitors the availability of vaccine supply in all states and UTs and their consumption on a daily basis.
Unless ratified by eight states, a Constitutional amendment cannot be signed by the President of India.
All 'important' issues will be up for deliberations, a BJP leader said of the meeting, adding the party is also likely to laud the central government for its handling of the COVID-19 pandemic, including the vaccination drive, and hail Prime Minister Narendra Modi for his development initiatives and successful foreign visits.
Sector analysts opined that the northern, central and eastern markets were particularly hit
There is a need to bring in legal/constitutional changes, reforms in central tax system and state tax systems, said M Govinda Rao, director, National Institute of Public Finance and Policy.
The Congress won 77 seats or 42% of seats in the 2017 polls. How then can Gujarat be called a BJP bastion, asks Sanjeev Nayyar.
Of the seven surveys presented under Modi govt, predictions of three were quite close to the actual GDP growth rate, one saw the base year change in between, but the last three were way off the mark.
The 14th Finance Commission had recommended that states' share in the divisible tax pool be raised to 42 per cent, from 32 per cent earlier.
Some of the Congress's new-found enthusiasm for hitting the streets will show its result in the Gujarat, Himachal Pradesh, and Karnataka elections. That is when we will know if the Congress will go to the regional parties or the parties will come to the Congress.
The comments from Das assume importance as the government for two consecutive terms have missed its fiscal deficit targets by 10 bps
Amid rising consumer complaints, the Central Consumer Protection Authority (CCPA) on Monday barred hotels and restaurants from levying service charge automatically or by default in food bills and allowed customers to file complaints in case of violation. The CCPA has issued guidelines for preventing unfair trade practices and violation of consumer rights with regard to levying of service charge. "No hotels or restaurants shall add service charge automatically or by default in the bill," CCPA chief commissioner said in the guideline.
Gopal Krishna Madhav, who was appointed as an OSD to the deputy chief minister in 2015, was caught red-handed by the CBI while taking a bribe to settle a tax evasion matter.
Experts have flagged issues regarding the levying of new cess/tax, especially those related to complications in administering the cess.
Aditi Phadnis predicts frequent stand-offs between the Centre and states in the future.
Experts consider Sebi's takeover code in its present form to be on a par with any foreign code governing public mergers and acquisitions.
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