'Lifting of lockdown should be very gradual. Some facilities should remain closed through the month of May like schools, colleges, malls, cinema halls, religious places and markets'
Finance Minister Nirmala Sitharaman on Tuesday held a review meeting on credit guarantee scheme with heads of public sector banks, and asked them to expedite loan disbursement under the Rs 3-lakh crore ECLGS for MSME sector, hit hard by coronavirus-induced lockdown. The meeting on Emergency Credit Line Guarantee Scheme (ECLGS) was held through video conference, and the minister appreciated the efforts of banks in execution of the scheme.
'Economy is leading the way as far as the relationship between the two countries is concerned'.
The ban has been in force since last Friday.
Economic Affairs Secretary Subhash Garg is the finance ministry's primary liaison with the RBI.
States and Union Territories have been given the powers for delineation of Red, Green and Orange Zones as per COVID-19 situation, the MHA said. All shops, except those in containment zones and malls, will be allowed to open from Monday with staggered timings during lockdown 4.0, it said.
FinMin does not expect tax or non-tax revenue to reach anywhere close to the targets set in the interim Budget. Sources say that the challenge before the new government will be either to accept the reduced projection and tailor the Budget accordingly or set a more ambitious target.
'If the Union Budget can provide incentives for animal spirits to come as well as induce demand stimulus and consumption, the Budget would have done a wonderful job.'
The Vanchit Bahujan Aghadi has called for the statewide shutdown to protest against the Citizenship (Amendment) Act and the proposed National Register of Citizens. Barring stray incidents of stone pelting and attempt to disrupt road traffic in Mumbai, there was not much impact of the bandh in the metropolis.
'There is a time for lowering one's expectations of the economy -- and therefore not trying to do too much in the Budget,' notes T N Ninan.
India should not be left behind. It should join the seven central banks which are studying feasibility and safeguards necessary to eliminate risks, particularly from hacking, advises former foreign secretary Shyam Saran.
The Department of Telecommunications has mooted a proposal for increasing additional spectrum charges and has also suggested slashing of one-time fixed spectrum charges.
The rate of cash withdrawals over deposits was almost double in Uttar Pradesh, Andhra Pradesh and Telangana, according to the latest analysis submitted by the RBI to the finance ministry.
Researches reveal that many firms that employ H-1B workers directly, including some of the biggest names in the technology industry such as Amazon, Google, Microsoft, Apple, Qualcomm, Salesforce and Uber, pay a large share of their H-1B workers at one of the two lowest wage levels, Level 1 or Level 2.
While cancelling the legal tender of 500 and 1,000 notes on November 8, the government had allowed them to be used for utility bill payments for the first 72 hours. This deadline was extended repeatedly and the last extension was granted till December 15.
Road ministry identified bike-sharing, carpooling and e-rickshaws as ways to deal with rising pollution in major cities.
'The idea is to have a separate and independent consultation on non-personal data, and decide the contours of how it should be regulated, whether as guidelines, rules, or a separate policy,' said a senior official at MeitY.
The finance ministry has ruled out the proposal for the appointment of a chief operating officer (COO) of the rank of deputy governor in the Reserve Bank of India (RBI), as the government feels no interim arrangements should be made for such high-profile appointments.
SVAMITVA is a new government project that primarily aims to demarcate abadi areas that includes inhabitant land, inhabited areas contiguous to abadi and wadis/basties in rural areas, using drone surveying technology.
Worried over excessive outflow of foreign exchange as royalty and fees for technology transfer and use of brand names, Commerce and Industry Minister Anand Sharma wrote to Finance Minister P Chidambram on the matter.
Making water available is always a serious challenge in the summer for all public authorities. This year, the challenge is higher when hand-washing at every opportunity has become a necessity. So keeping potable water lines running without a glitch has become most necessary.
Likely to select from 3 shortlisted; follows Sanjeev Kaushik's refusal to take the job if made to retire from IAS
The two leaders are expected to make brief remarks at the top of the meeting.
A government panel said policymakers and regulators should have an open mind regarding the introduction of an official digital currency in India.
The prime minister was apparently referring to Swedish environmentalist Greta Thunberg's controversial 'toolkit', which she tweeted and then deleted, outlining ways in which people can participate in the farmers protest.
A K Bhattacharya lists three reasons why Finance Minister Arun Jaitley will most likely present a full Budget on February 1, 2019.
The Biden administration has announced that it is delaying the H-1B policy of the previous Trump administration on allocation of the popular foreign work visas by continuing with the lottery system until December 31, 2021, to give the immigration agency more time to develop, test and implement the modifications to the registration system. On January 7, the US Citizenship and Immigration Services (USCIS) announced to do away with the traditional lottery system in deciding the successful applicants for the H-1B visas. The H-1B visa is a non-immigrant visa that allows US companies to employ foreign workers in specialty occupations that require theoretical or technical expertise.
The 557th meeting of the Central Board was chaired by RBI Governor Raghuram Rajan, and attended by the four deputy governors among others
The allegations of DDT evasion is connected to some transactions the Indian entity has made while buying shares of the company from the Mauritius and US companies of Cognizant.
The GDP slumped to a three-year low lagging China for the second straight quarter -- as manufacturing slowed ahead of the GST launch amid demonetisation effect.
Prez says that India has not assured the United States that it will provide 'equitable and reasonable access to its markets'.
Financial Intelligence Unit detects over Rs 7,800 cr blackmoney.
While the denial rate has dropped slightly to 21 per cent in 2019 from 24 per cent in 2018, the National Foundation for American Policy has said it is much higher for Indian IT companies like Tata Consultancy Services (TCS) and Wipro and very low for American companies like Amazon and Google. For instance, the denial rate for TCS and Infosys in 2019 was 31 per cent and 35 per cent respectively, whereas for Wipro it was 47 per cent and 37 per cent for Tech Mahindra. On the other hand, the denial rate for the new H-1B petitions in 2019 was just four per cent each for Amazon and Google. The denial rate for Microsoft during the same period was six per cent, and Facebook along with Walmart was just three per cent each.
Each train is likely to carry around 1,000-1,200 passengers, keeping in mind the social-distancing protocol.
An alumnus of St Stephen's College, Delhi, his professional career began in the early 1990s. He completed a Master's degree in international affairs from Columbia University during 1996-98. And an MBA from Northeastern University, Boston.
Modi also reached out to traders, saying their past records will not be checked by the income tax department if they join the formal economy by getting themselves registered under the GST regime.
The GST will subsume excise, service tax, value added tax, octroi etc.
The worst-affected Sindh province reported 90 new coronavirus cases, taking the provincial tally to 357. The new cases have been detected in pilgrims who returned from Iran and have been quarantined in Sukkur, according to a spokesperson for the Sindh health department.
Both Mahinda Rajapaksa and Modi have learnt from their past mistakes. Modi has understood that Rajapaksa is a 'forever politician' that India has to live with, observes Ambassador M K Bhadrakumar.
The income tax department on Monday released rules for equalisation levy - a tax on online advertisements that would come into effect from June 1.
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