The strains are telling as old friends and new enemies face each other in the battlefield.
Three years after India declared its goal to become a net-zero economy by 2070, the policy design for achieving the target has begun, with the NITI Aayog forming dedicated multi-sectoral committees to prepare a transition plan. In 2021, India joined a select group of nations that set a target year for becoming net-zero carbon economy. At COP26 in Glasgow, Prime Minister Narendra Modi outlined a five-pronged 'Panchamitra' climate action target for India and committed to a net-zero target by 2070, joining nations like the US, the UK, and China.
Subhash Chandra Garg, the former finance secretary who was shunted out of the finance ministry within three weeks of Modi-2.0 government's first budget last year, on Saturday alleged that new Finance Minister Nirmala Sitharaman got him transferred out.
First things first: For those wondering if they need to reapply, the answer is no.
A delegation of high-level executives from US public pension funds (non-profit and government sectors) is visiting India next week to assess and familiarise themselves with the investment opportunities in the country. These executives belong to various American states and cumulatively represent $1.8 trillion in assets under management (AUM) invested across the US and global markets. The United States (US) mission to India, which includes its embassy and consulates and the Department of Treasury, along with India's Ministry of Finance and the National Investment and Infrastructure Fund (NIIF), is hosting the delegation.
Full exemption for all health insurance premiums and reinsurance or a reduction in the GST rate from 18% to 5% on health insurance services is likely.
BJP's IT department head Amit Malviya said there is a certain propriety and protocol one associates with these all-party meetings.
Aam Aadmi Party MLA Mukesh Ahlawat will be the new face in the Delhi cabinet headed by Atishi, who will be sworn in as chief minister on September 21, and four ministers will be retained, the party said on Thursday.
Amid the Budget preparation, the revenue department is assessing the feasibility of further adjustments to maximise benefits for salaried individuals.
With this allocation of portfolios, the Sharad Pawar-led NCP has got most of the 'plum' ministries.
The BJP accused Congress leaders of colluding with foreign forces to destabilize India and demanded Sonia Gandhi to disclose her role in a George Soros Foundation-funded organization's activities. The ruling party also attacked Rahul Gandhi, calling him a "pawn" for his protests against the Adani issue.
The fitment committee under the Goods and Services Tax (GST) Council, comprising central and state officials, has begun a rate rationalisation exercise afresh, checking the possibility of dropping some of the rates, particularly the 12 per cent slab, to achieve a revenue-neutral structure, a senior official with direct knowledge of the matter
India's GDP is likely to grow at 6.5 to 7 per cent in the current fiscal year amid global challenges which may impact exports, said Economic Survey 2023-24 tabled in Parliament on Monday. The growth projected for 2024-25 is lower than the economic growth rate of 8.2 per cent estimated for the previous financial year. The Reserve Bank has projected the GDP growth for the fiscal year ending March 2025 at 7.2 per cent.
The short-term inflation outlook for India is benign, and the expectation of a normal monsoon and moderating global prices of key imported items give credence to the projections made by the RBI and IMF, the Economic Survey said on Monday. However, to ensure long-term policy stability, the Survey 2023-24 suggested making focused efforts to increase the production of major oilseeds, expanding the area under pulses, and assess the progress in developing modern storage facilities for specific crops.
Atishi will have a brief tenure in office as assembly elections in the national capital are due in February.
Andhra Pradesh Chief Minister N Chandrababu Naidu and his Telangana counterpart Revanth Reddy visited some inundated areas in their respective territories.
The income-tax (I-T) department has started scrutinising cases for the assessment year (AY) 2018-19 to determine which of them need to be reopened, a process that might result in a raft of tax notices. This follows this year's Union Budget move to reduce the time limit for tax reassessment from 10 years to five in cases of escaped income. The new provision becomes effective on September 1 and will make past assessments for AY 2018-19 time-barred.
The Jammu and Kashmir administration on Saturday sacked six government employees, including five policemen, for their 'deep involvement in anti-national activities', officials said.
The ICC has approved a budget of approximately USD 70 million for holding the Champions Trophy in Pakistan early next year.
Watal a 1978-batch Andhra Pradesh cadre IAS officer.
Union minister Nitin Gadkari has said the Maharashtra government's Ladki Bahin scheme, introduced to provide financial assistance to women, could affect the timely payment of subsidies in other sectors.
An order was issued to terminate 223 contractual employees of the Delhi Commission of Women after Lieutenant Governor V K Saxena gave his nod to a proposal on it, officials said on Thursday.
The increased numbers of the Opposition bloc would mean that their MPs are likely to head several more panels than the four that they did by the end of the term of the 17th Lok Sabha.
It was not immediately clear when Garg submitted his voluntary retirement scheme application to the government. It was also not known if the government would accept the application. If he hadn't applied for VRS, he would have retired from government service at the end of October 2020 on attaining of 60 years of age. Garg did not answer phone calls seeking his comments.
'Some of the astounding proposals, if translated into statutory provisions, would be suicidal.' 'This would not be a wonder cure for increasing insurance penetration and only result in mushrooming growth of players like paan kiosks with deleterious consequences.'
The actor-turned-politician has been allotted Panchayat Raj and Rural Development, Environment, Forests, and Science and Technology portfolios.
There are a number of steps taken that will leave more money in the hands of the taxpayers.
These include the reduction in tax rates under the new tax regime, increase in standard deduction, allowing tax collected at source to be adjusted against tax deducted at source from salaries, notes Harsh Roongta.
Long-term tax-saving FDs can also be considered after the PPF limit has been exhausted.
Here stood a man who embodied the legacy of whatever Brand Tata stood for, embellished it, and departed into the long night, leaving the brand legacy for others to further enrich, notes R Gopalakrishnan.
The conspiracy to kill Nationalist Congress Party leader and former Maharashtra minister Baba Siddique was hatched in Pune and shooters were provided with a photo and a flex banner for the target identification, police said on Monday.
Of the total proposed allocation, over Rs 1 lakh crore is meant for BSNL and MTNL-related expenses, including Rs 82,916 crore infusion in BSNL for technology upgradation and restructuring at BSNL.
Users should be aware of "fake emails" sent in the garb of a government e-notice, said the Indian Cyber Crime Coordination Centre (I4C) in a public advertisement.
'The war ended in 2009 and I believe the new generation of Tamils don't know what was going on there.' 'I felt it was my duty to tell our story.' 'Since 2009, it seems like we are sleeping.'
'File all the supporting documents in response to the allegation since there is a possibility of the proceedings getting dropped at that stage if the reply is satisfactory.'
Withdrawing a blanket ban on overseas shipments of non-basmati white rice, the government on Saturday imposed a floor price of $490 per tonne and exempted the commodity from export duty. Exports of non-basmati white rice have been banned since July 20, 2023 to boost domestic supply. "The export policy for non-basmati white rice (semi-milled or wholly milled rice, whether or not polished or gazed) ...is amended from prohibited to free, subject to MEP (minimum export price) of $490 per tonne with immediate effect and until further orders," the directorate general of foreign trade (DGFT) said in a notification.
A 14-member council of ministers was sworn in Patna by Governor Phagu Chauhan on Monday and the BJP bagged seven berths.
'The FSIB will conduct interviews for the SBI chairman position on May 21-22 as the tenure of the current chairman Dinesh Kumar Khara is scheduled to end by August.'
'I gave enough evidence and proof to punish corrupt officials.' 'But my own government has not filed any FIR against such officials.'
The finance ministry has directed all state-owned banks to review their gold loan portfolio as instances of non-compliance with regulatory norms have been noticed by the government. The Department of Financial Services (DFS) in a communication addressed to heads of public sector banks has asked them to look at their system and processes related to gold loan. "We have asked banks to undertake comprehensive review of the gold loan business," financial services secretary Vivek Joshi told PTI.
Public-sector lenders Indian Overseas Bank (IOB) and Uco Bank are likely to raise funds through qualified institutional placement (QIP) next month. Punjab & Sind Bank is likely to follow suit later this financial year to meet the public shareholding norm of 25 per cent. When a public-sector unit raises funds through QIP, the money goes to the company because it involves issuing new shares whereas in the case of offer for sale (OFS), the money raised goes to the government because its shares are sold.
