Uber has received support from 118,000 riders to its online petition against some of the rules.
'The corporate tax cuts will obviously result in lower tax payments by companies,' says Central Board of Direct Taxes member Akhilesh Ranjan who retires after 37 years in government service.
'Defence funding is channelled to State-owned research organisations where scientists are merely bureaucrats holding meetings and sending out minutes of meetings and press releases, but have long ago stopped any innovative work.' 'Unless this tragedy is fixed, India's chances to create world-conquering and job-creating new industries are slim,' says Ajit Balakrishnan.
At a time when investors are taking a "wait and watch" approach on fresh investment, Tamil Nadu in the past 10 months has signed 63 MoUs, enabling investment worth Rs 19,083 crore. After Palaniswami took over as chief minister in February 2017, cumulative FDI rose by Rs 46,427 crore from Rs 133 trillion (April 2000 to March 2017) to Rs 180 trillion by June this year. Thanks to the Tamil Nadu Business Facilitation Act, 2018, and the single window for applying and getting clearance for doing business, the ease of business issue has been addressed.
Tuesday's meeting at the PM's residence, attended by all the five secretaries in the finance ministry besides top officials of other economic ministries and NITI Aayog, cleared a five-year vision plan for the government to make India a $5-trillion economy by 2024.
The ministry of health and family welfare spent Rs 3,948 crore in May this year compared to Rs 7,816 crore in the corresponding month of the previous year. On the other hand, at Rs 12,930 crore, the expenditure had risen almost 200 per cent in April against Rs 4,327 crore in the corresponding month of 2019-20.
Telecom companies have been desperately waiting for a bailout package from the government after a Supreme Court order put their statutory liabilities at Rs 1.47 lakh crore.
This was the one Budget that required radical departures on all these fronts, when it had none, asserts, Shreekant Sambrani.
Capital dumping is being used by foreign e-commerce firms to subsidise and engage in predatory pricing, oil-to-telecom conglomerate Reliance Industries (RIL) has told the Associated Chambers of Commerce and Industry of India (Assocham) in an internal document. The document alleges that this is leading to massive unemployment and financial distress among small merchants and kirana stores. It consists of various recommendations and proposed changes that deal with Press Note 2 of 2018 (PN 2), which RIL wanted Assocham to present to the government, according to sources.
In less than five months of resuming charge of the finance ministry, Palaniappan Chidambaram has put in place virtually a new team to take charge of the government's fiscal policy management in the remaining months of its tenure. Will the celebrated economists and IAS officers share the required equation remains to be seen.
Some of the policy measures announced are expected to go a long way in removing current challenges on financing faced by businesses and also increasing economic activity, especially in areas of construction and manufacturing.
The income tax department has also launched a faceless e-assessment scheme to eliminate interface between an assessing officer and a taxpayer.
From defending the shock announcement of demonetisation to spearheading the remonetisation drive that included the cumbersome process of printing and supplying new Rs 500 and Rs 2,000 notes, his calm composure brought a sense of serenity to an otherwise chaotic situation.
From Covid-19 essentials, such as Vitamin C supplements and thermometers, to bicycles, laptops, and personal weighing scales, demand for certain items galloped during last financial year as the pandemic altered what Indians used on a day-to-day basis. Imports of outdoor sports equipment, handbags for women, and dentures, among others, plummeted. With outdoor activities coming to a halt last year and schools functioning virtually, imports of sports goods witnessed a decline, while inbound shipments of laptops and battery chargers saw a sharp uptick, according to the import data for the financial year 2020-21.
The Maharashtra government has announced a five-level plan to relax the coronavirus-induced restrictions in the state, based on the weekly positivity rate and the occupancy of oxygen beds.
Three key babus will make room for a new set of officers to carry the baton of Budget programmes.
The differences revolved around the two topics of how much reserves the RBI should carry and whether the finance ministry had precipitated matters by invoking Section 7 of the RBI Act, that allows it to give directions to the RBI in public interest.
The new rail and road cargo service launched on Friday, linking Guangdong, Tibet and Nepal, aims to boost trade with the South Asian neighbour as China pushes forward its Belt and Road (Silk Road) initiative, state-run Xinhua news agency reported on Saturday.
It is also for the first time ever that so many Indian-Americans have been roped into a presidential administration ever before the inauguration. Biden, a Democrat, is still quite far away from filling all the positions in his administration.
Finance ministry tells PM fiscal deficit target will be met, capex expenditure won't be cut and GDP growth will surpass 7.5%.
Apart from Modi, Jaggi Vasudev to address 2-day tax officers' conference
There is growing acceptance of the idea in the international community that engaging the Taliban government is a far better approach than ostracising it, observes Ambassador M K Bhadrakumar.
Is it time to take a relook at our economic theories? asks Ajit Balakrishnan.
Following suggestion from Minister for Roads Nitin Gadkari, Centre seeks ideas from IRDAI and General Insurance Council on feasibility of providing insurance cover for retrenchment.
Modi asked bureaucrats to imagine whether or not their life has become "robotic". "If it has happened than this impacts the whole government and system. We can't be robotic. That can't be our life," the prime minister said during an hour-long interaction with civil servants at the 9th Civil Services Day function at Vigyan Bhawan.
The gold, weighing over 30 kg, was seized from the "diplomatic baggage" that had landed by air cargo at the Thiruvananthapuram international airport recently from the Gulf.
Biden has reiterated America's support for India's permanent membership on a reformed UNSC and its entry into the NSG during his first in-person bilateral meeting with Modi at the White House.
Although the first woman to hold the position of chief economist at IMF, it would be wrong to see her appointment through the lens of gender
The US State Department, in its Congressional mandated annual Country Reports on Terrorism for the year 2018, on Friday said even though the Pakistani government voiced support for political reconciliation between the Afghan government and the Taliban, it did not restrict the terror group and the Haqqani Network from operating in Pakistan-based safe havens and threatening the US and Afghan forces in Afghanistan.
Russia and China are tight-fisted and Iran is broke and none of them has the political will or capacity to bankroll the Afghan economy, which only the US can, points out Ambassador M K Bhadrakumar.
The party's research department is quietly collecting data, facts and figures to puncture the Modi government's claims on the note ban, the goods and services tax, and the economic growth.
Agriculture activity, according to recent channel checks by Prabhudas Lilladher, is expected to continue at a strong pace in FY22.
A total of Rs 396 crore has been mopped up, as on August 20 against Rs 407 crore collected in the same period last year. This was despite the expansion of the levy to online e-commerce players from this financial year.
'In a serious fiscal situation like this, an ostrich-like focus on annual budgeting, event management and defensive rhetoric will only make matters worse,' warns Rathin Roy.
In a festival gift to borrowers, the finance ministry on Wednesday approved guidelines for a scheme for grant of ex-gratia payment of the difference between compound interest and simple interest for six months of loans up to Rs 2 crore.
'India should be aware that China will take full advantage of US domestic turmoil and reduced international prestige,' warns Colonel Anil A Athale (retd).
The state has decided that from Monday it will allow the plying of private buses along with the opening of electronics, stationery, tea stalls, and paint and hardware stores, reports Avishek Rakshit
A lot of work is needed to be done on the part of the insurance sector behemoth, and the government, before it is ready for its market debut.
The sanctions list subjected him to a travel ban, assets freeze and an arms embargo.
'The answer for a quicker boost to growth is simple -- run a much larger deficit, use the resulting public resources to ensure adequate price support for agriculture, subsidise wage costs of MSMEs and accelerate public sector construction-intensive activities,' advises Nitin Desai.
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