The government has decided to hold off introducing the production-linked incentive (PLI) scheme for additional sectors until it verifies the efficacy of existing initiatives. Top government officials have received mixed feedback on the scheme, including insights from the Economic Advisory Council to the Prime Minister, people aware of the matter said. "There are no new PLI schemes in the offing.
Following the Supreme Court verdict which clipped the powers of the LG, the bone of contention between the Delhi government and his office continues to be control over the services department.
Telecom services providers have urged the Ministry of Finance to suspend the universal service obligation (USOF) till the existing corpus is exhausted. In their Budget recommendations, they have also pressed for an exemption from the service tax on "assignment of right to use natural resources" and the slashing of Customs duty on telecom equipment to zero. The Cellular Operators Association of India (Coai), which represents private sector telecom operators Reliance Jio, Bharti Airtel, and Vodafone Idea, called for abolishment of USOF levy.
The Jammu and Kashmir administration has sacked three employees, including the Kashmir University public relations officer, for allegedly working with Pakistan-based militant outfits, raising finances for them and propagating their ideology, officials said on Monday.
Describing the DAD as the "guardian of defence finance", he emphasised the need to bolster the internal vigilance mechanism so that any suspicious activity can be detected and reviewed immediately.
Hafiz Abdul Salam Bhuttavi, an United Nations-designated terrorist who trained the Lashkar-e-Taiba (LeT) attackers for the 2008 Mumbai terror attack and acted as the outfit's chief on at least two occasions, died in a prison in Pakistan's Punjab province while serving a sentence for terror financing, his aide said on Wednesday.
The ministry asked all departments to cut avoidable expenditure, including seminars and conferences at five-star hotels and abroad, purchase of new vehicles, foreign travel and appointment of consultants.
'This mega corruption scandal, as certified by the Supreme Court, will expose the unholy nexus between the BJP and its corrupt corporate masters'
'Each state and central government body may be asked to update its system to ensure PAN is used as a common identification to access its services.'
Tata Motors Limited is looking for finance professionals.
'Not even a single rupee from the electoral bonds should be allowed to be used in the election.' 'If it is used in the election, it will taint India's electoral process itself.'
Alert: The two-year full-time Master of Finance and Control Programme for 2005-2007, from the Department of Financial Studies, University of Delhi South Campus.
Automotive (auto) major Mahindra & Mahindra (M&M), which is readying to launch nine sport utility vehicles (internal combustion engine/ICE), seven Born Electric Vehicles (BEVs), and seven light commercial vehicles by 2030, has outlined an investment of Rs 27,000 crore in its auto business between 2024-25 (FY25) and 2026-27 (FY27). Over the next three years, the company will deploy Rs 37,000 crore, including its auto business, farm business (Rs 5,000 crore), and service business (Rs 5,000 crore).
The Bharatiya Janata Party vs ruling Dravida Munnetra Kazhagam battle over live telecast of the Ayodhya Ram temple consecration in Tamil Nadu shrines reached the Supreme Court on Monday, with the apex court asking the authorities to act in accordance with the law and not based on any oral instructions.
This is due to the newly formed Union Territories of Jammu and Kashmir, and Ladakh, which will get funds from the Centre's share, which means devolution will be for 28 states compared to 29 earlier.
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.
But the government will present a second tranche of Supplementary Demands for Grants during the Budget session of Parliament in February, when it can seek additional spending.
The leaders of the two parties have held five rounds of talks since Wednesday to finalise the portfolio sharing arrangement between the partners.
The chief minister on Monday held consultations with senior officials of finance, transport, food and civil supplies, energy and other departments and asked them to prepare a report on the implementation of the guarantees.
Finance Minister Nirmala Sitharaman on Tuesday, April 11, 2023, met with US Treasury Secretary Janet Yellen in Washington, DC.
This is the fourth such recruitment drive proposed to be undertaken by the Narendra Modi government which had in 2018 initiated lateral entry.
Chief Minister Arvind Kejriwal on Saturday allocated portfolios to his six Cabinet colleagues while keeping the key departments of home, finance, power and vigilance with himself.
The Punjab chief minister said he was asked by Kejriwal to visit different places for campaigning for INDIA bloc candidates.
The message is clear: The 60-year-old wise uncles need to handhold the 40-year-old entrepreneurs when, obsessed with ambition and greed for growth, they become a victim of hubris, points out Tamal Bandyopadhyay.
Life Insurance Corporation (LIC) may require at least five more years to comply with the minimum public shareholding of 25 per cent beyond the current exempted timeline of 2027. Formal communication in this regard had been shared recently with the finance ministry, underlining LIC's roadmap, plans of further dilution of stake, current norms around public float, and challenges ahead, a government source familiar with the matter said. "Going forward, we will have to take a call, along with Sebi (Securities and Exchange Board of India) and the Department of Economic Affairs on the roadmap for minimum public shareholding (MPS).
Coming Wednesday, Finance Minister (FM) Nirmala Sitharaman will present the 2023 Union Budget - the last full Budget ahead of the 2024 Lok Sabha elections. While India exited 2022 as a relatively bright spot in the global economy, the FM will endeavour to present a Budget that insulates India's economy against global headwinds and recession in advanced economies, while sticking to the path of fiscal consolidation. In this, she is being helped by her core team of trusted advisors.
Deputy Chief Minister Manish Sisodia holds as many as 18 of the total 33 departments, including education, finance and home.
The ban has been in force since last Friday.
Annamalai has faced criticism for the breakup between the AIADMK and the BJP, but BJP leaders say 'he attracts youth, who needs change'.
'We need to be far more careful given the fact that while this is group lending, it's essentially unsecured.'
Through a revised return, you can make changes to your ITR and even end up paying lower tax.
Saha has kept the home, health and family welfare and public works department with him while Ratan Lal Nath has been given the charge of power, agriculture and farmers' welfare, according to an official notification issued by Chief Secretary J K Sinha.
The Bharatiya Janata Party also slammed Kejriwal's continuation as the chief minister of Delhi despite being under arrest, saying it is the most unfortunate moment in the country's political journey and the worst kind of politics.
two of the highest tax payers in Bollywood, will star in a documentary produced by the Income Tax Department to spread the message of tax compliance.
Govt to scrap 8 appellate tribunals; National Company Law Appellate Tribunal to take over Competition Appellate Tribunal's duties
While the responses of the candidates were predictable, depending on which side they belonged to, an interesting point slipped through when Rahul Shewale cited the Dharavi Redevelopment Project as a scheme that would add to Mumbai's importance. No big infrastructural project in Mumbai, he said, could be successful without the Centre's nod.
Meghalaya Chief Minister Conrad K Sangma retained the key departments for his National Peoples Party, and gave the lesser politically significant ones to alliance partners Bharatiya Janata Party, Hill State Peoples Democratic Party and United Democratic Party as he allocated portfolios on Thursday.
The income tax department has notified rules for valuation of equity and compulsorily convertible preferable shares issued by startups to resident and non-resident investors. As per the changes in Rule 11UA of I-T rules, which comes into effect from September 25, the Central Board of Direct Taxes (CBDT) provides that the valuation of compulsorily convertible preference shares (CCPS) can also be based on the fair market value of unquoted equity shares. The amended rules also retain the five new valuation methods proposed in the draft rules for consideration received from the non-residents viz., (i) Comparable Company Multiple Method, (ii) Probability Weighted Expected Return Method, (iii) Option Pricing Method, (iv) Milestone Analysis Method, and (v) Replacement Cost Method.
Eases regulatory hurdles for Bharti-MTN deal.
'The people of Tamil Nadu in particular Chennai know about the double standards of the BJP. Nothing will work for them here.'
