Internship Programme, 2008 formulated by the Department of Economic Affairs.
DEA objects to the company's 29 Indian stores having sub-brands as a rule violation; DIPP doesn't agree.
The finance ministry is of the view that all interests -- direct and indirect -- should be taken into account and that there should not be any threshold for calculating total effective foreign shareholding in a company.
Much on the expected lines, Beijing reacted angrily to Hands' visit, saying that it violates the one-China principle to which London is a signatory.
A preview of many of the tableaux, some of which are still being constructed or given finishing touches, was held at the Rashtriya Rangshala Camp in the city.
The Agency said it has delivered the required certification notifying Congress of this possible sale on Thursday.
The government has shortlisted Cyril Amarchand Mangaldas for giving legal advice on upcoming mega IPO of India's largest insurance company LIC, an official said. Four law firms - Crawford Bayley, Cyril Amarchand Mangaldas, Link Legal and Shardul Amarchand Mangaldas & Co - had made presentations before the Department of Investment and Public Asset Management (DIPAM) on September 24. Following presentations, Cyril Amarchand Mangaldas has been selected as legal advisor for the initial public offering (IPO) of Life Insurance Corporation (LIC), the official told PTI.
The government is committed to restricting fiscal deficit at 5.3 per cent of GDP this financial year and has no immediate plans to go for additional market borrowings, a senior government official said.
A committee of secretaries will be meeting soon to consider a draft proposal, which suggests that decision-making on all policy issues pertaining to FDI be transferred from the Department of Industrial Policy & Promotion (DIPP) in the Ministry of Commerce to the Department of Economic Affairs (DEA) in the Ministry of Finance.
The Income-Tax Department has turned down a proposal by the Department of Economic Affairs to go slow on refunds to taxpayers.
Three key babus will make room for a new set of officers to carry the baton of Budget programmes.
The government has approved 20 new highway and housing projects at a total investment of Rs 14,538 crore (Rs 145.38 billion).
The government may soon give the green light to bilateral trade between Russia and India in their national currencies to avoid any trade disruptions, multiple people aware of the matter said. While the Department of Commerce has recommended the proposal, an announcement is likely to be made by the finance ministry after further deliberations between the Department of Economic Affairs and Department of Financial Services. "The finance ministry will take a call on how to peg the two currencies," a senior government official told Business Standard. In the past, the two nations have had rupee-rouble trade, and when such an arrangement is implemented again, it will bypass the sanctions imposed on Russia by the West.
Although it has not been able to sell stake in any PSU so far this fiscal, the government will be able to meet the Rs 30,000 crore disinvestment target set for 2012-13, according to Department of Economic Affairs secretary Arvind Mayaram.
International companies usually store data on global servers and the requirement to store data locally would require them to make an additional investment. But policymakers in India believe storing data locally would help monitor and conduct investigations if the need arises.
The appointment will be made by Prime Minister Narendra Modi in consultation with Finance Minister Arun Jaitley.
"I dont think we will be able to contain fiscal deficit to our Budget plan of 5.1 per cent (of GDP). It could be 5.2 to 5.3 per cent, which is doable," Department of Economic Affairs Secretary Arvind Mayaram told reporters in New Delhi.
A panel led by the secretaries of the DEA and the DIPP would conduct a quarterly review on the pending proposals.
Maturity extension for redeemable preference shares stuck due to lack of directions in FDI rules.
DIPP's proposal is believed to have the support of the ministry of consumer affairs, food and public distribution and was originally mooted by the Forward Markets Commission.
As part of the ritual, ''halwa'' is prepared in a big ''kadhai'' (large frying pot) and served to the entire staff involved in the Budget making exercise of the ministry. Halwa was served while maintaining COVID protocol with all present in mask and those distributing sweets were wearing gloves.
The Taliban government in Afghanistan is not going anywhere. That being the case, why is the hesitation to establish formal diplomatic relations with the Taliban? asks Lieutenant General Prakash Katoch (Retd).
In order to provide greater leeway to central government departments and ministries to finalise centrally-funded projects, the Department of Expenditure under the finance ministry has increased the financial limits of projects requiring approval from various cost-approving bodies.
The Union Cabinet has cleared disinvestment of the country's largest insurer LIC and a panel headed by the finance minister will now decide on the quantum of stake dilution, a senior official said on Monday. The Department of Investment and Public Asset Management (DIPAM) had in January appointed actuarial firm Milliman Advisors LLP India to assess the embedded value of LIC ahead of the IPO (initial public offering), which is touted to be the biggest public issue in Indian corporate history. The Budget amendments to the LIC Act has been notified and the actuarial firm is expected to finalise the embedded value of the life insurer. Under the embedded value method, the insurance company's present value of future profit is also included in its present net asset value.
The agency had received Rs 946.51 crore to manage its affairs in the Budget Estimates for 2023-24, which was later increased to Rs 968.86 crore in the Revised Estimates.
The proposal was mooted by the department of industrial policy and promotion in the ministry of commerce and industry.
DEA Secretary Arvind Mayaram is also expected to attend the event.
The postal department would be floating tenders for procurement of hardware and development of software. Pilots will be held in rural and urban post offices and the final roll out will be completed by September 2012.
Gold imports in 2011-12 amounted to $56.5 billion and in the current financial year, till December, they are estimated at $38 billion.
Gold and silver imports during April, 2013 jumped by 138 per cent to $7.5 billion against $3.1 billion in the year-ago period.
A high-level meeting will be convened soon to decide on probing the India operations of Chinese Telecom companies -- 'Huawei' and 'ZTE' -- against the backdrop of the US calling the two firms a threat to American national security.
Seeking to prevent misuse of funds belonging to foreign investors, the Reserve Bank has proposed that transfer of such funds to the Indian entity should be allowed only through escrow mechanism under which the money would remain with the bank pending investment.
As part of it, the govt may permit 26% FDI in insurance broking through the automatic route.
This time, Finance Minister P Chidambaram, who attended the first such retreat in 2008, would be present.
Documents related to 2G spectrum allocation cannot be accessed by the public till the Joint Parliamentary Committee completes its probe and submits its report, the Central Information Commission has stated. The JPC, which is probing the high-profile scam, has directed the finance ministry not to reveal any information till it completes the probe.
DEA official writes to DIPP suggesting that govt needs to understand what has been left out, and why, in the revised application of the retailer.
Sri Lankans queued up to apply for fresh passports outside the department of immigration and emigration office in Colombo.
For the first time, the government is considering the merits of a tariff policy to contain prices that could include allowing external agencies to import commodities and cultivating some essential crops overseas. An inter-departmental team from the ministries of finance, food and consumer affairs and commerce has been asked to work out a strategy to this effect.The finance ministry's department of economic affairs has submitted its views and a final paper is under preparation
The Department of Industrial Policy and Promotion (DIPP) under the Ministry of Commerce has called a meeting on July 10 to discuss the foreign direct investment (FDI) policy in the cigarette industry.
A direction is this regard was given on Wednesday after Finance Minister P Chidambaram and Coal Minister Sriprakash Jaiswal met in the presence of the secretaries of the Department of Economic Affairs and Coal Ministry
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