"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.
Most senior scientists have complained of repeated questioning by the expenditure department, bureaucratic delays in clearances, more focus on procedure than on result and the lack of an environment for science to grow, reports Akshat Kaushal
This comes at a time when the COVID-19 crisis is expected to derail the government's revenue maths for 2020-21, hitting the mop-up from sources such as taxes and divestment.
'The core sectors have not done very well in the past one year.'
The central government babus have been given a big hike in TA/DA (travel allowance/dearness allowance) as part of implementation of the Sixth Pay Commission, but it may be only illusory as ministries and departments will get no additional funds to foot their bills.
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.
When Prime Minister Narendra Modi recently extended a Rs 8,000-crore (Rs 80 billion) central support for building roads in Jammu & Kashmir, Union Cabinet's approval for the big-ticket announcement came in barely 48 hours.
'Unless we get the health and economic situations right at the same time, we will not recover.'
The CAG audit may look into expenditure on printing of notes, RBI dividend payout and banking transaction data.
The government hopes that the PLI schemes would provide 200,000-300,000 direct employment over five years, according to sources in the know.
The vertical will be based out of Bengaluru.
'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.'
Those conducting their businesses predominantly in cash and evading income tax have reasons to worry.
There was no law that prevented the government from presenting a sixth full Budget, or something similar to it.
Goa Chief Minister Manohar Parrikar on Tuesday said the MLAs who visited Brazil to watch the recent football World Cup would pay from their pockets.
The ones chosen for operation, management and development through a public-private partnership model are Lucknow, Ahmedabad, Jaipur, Mangaluru, Thiruvananthapuram, and Guwahati.
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.
Constantly evolving rules and anomalies over tax treatment have constrained corporate programmes in the first year that the government's CSR mandate has been in force.
'My interest is to open up transparency to the people who unnecessary raise these issues. The prime minister has full right to go wherever he is going but the question is why is he not transparent on expenditure.' 'When the prime minister went to the UN, he spoke of transparency. You are not complying with it. It shows hypocrisy.' Commodore Lokesh Batra (retd) on why he filed an RTI to find out how much Prime Minister Narendra Modi has spent on his foreign visits.
Kumar accused Prasad of renouncing social justice agenda and making it a mere slogan for personal popularity.
'If Kerala votes back the LDF, if Tamil Nadu brings the DMK and if Bengal votes for the Trinamool, we will project a formidable opposition to the BJP.'
Fiscal situation better but spending cuts likely in FY16 too.
The government of India will deposit Rs 200 per month for Gramin Dak Sevaks involving an annual expenditure of about Rs 70 crore (Rs 700 million) to provide for the financial security for them and their spouses after retirement from the service at the age of 65, Minister of State for IT & Telecom Sachin Pilot told reporters in New Delhi.
'I am indirectly related to VG Siddhartha. Excellent human and brilliant entrepreneur. I am devastated with the contents of his letter,' Mallya said on Twitter.
With the online tax filing and automation of the tax process the number of mistakes made by taxpayers during filing of taxes have been reduced, but considering the importance of the information, a mistake or an error will be an invitation to trouble.
Despite crude comfort, heavy spending cuts needed to offset Rs 80k-cr revenue shortfall
The 'One-China' policy states that Taiwan and Tibet are part of China's mainland.
'Nirmalaji's Budget announcements have long-term implications and are not backed by enough money when the short-term outlook looks bleak,' notes T N C Rajagopalan.
The Budget 2015-16 will include many of the schemes announced by Prime Minister Narendra Modi such as smart cities and high speed trains, Finance Secretary Arvind Mayaram said.
Going by the number of changes Mr Jaitley's next Budget is likely to see, he will go down in the history of Budget-making as the finance minister who ushered in the largest number of changes in a single Budget, says A K Bhattacharya.
The new government, which will be required to boost investments and promote growth, will be presenting a regular Budget after completion of the electoral process.
The immediate revenue loss could worsen the Centre's fiscal deficit, from the budgeted 3.3 per cent of gross domestic product (GDP) to 3.7 per cent of GDP -- a massive 40-basis-point increase. It was stabilised at 3.4 per cent since 2016-17, report Abhishek Waghmare and Dilasha Seth.
Incentives for industries have been rolled back and teachers have gone without salary for months as the state grapples with the after-effects of the ban
Given the military's requirement for watertight cyber and communications security, L&T will establish a Security Operations Centre which will deal with security threats.
The National Recruitment Agency will prove to be a boon for crores of youngsters, the PM said.
The way the present government has dealt with appointments of civil servants remains to be a cause for concern.
The Finance Ministry has started preparations for Budget 2014-15 by asking different central ministries and departments to come out with their estimates of receipts as well as expenditure for the next financial year.
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