For the startup ecosystem in India, the scorecard so far has been a mixed bag, observes Akhil Gupta.
"Cash is still quite high in the system. There is also stocking of Rs 2,000 notes in evidence. The expansion of digital payments is taking place all over the world. It is happening in India as well. The pace is much slower," S C Garg, who took VRS from government service after he was abruptly shifted out of the finance ministry, said in a note.
Other ministers who have presented five straight annual financial statements include Arun Jaitley, P Chidambaram, Yashwant Sinha, Manmohan Singh and Morarji Desai.
Jailed gangster Chhota Rajan's close aide Santosh Mahadeo Sawant was arrested by the Central Bureau of Investigation as he landed at Mumbai airport from Singapore, after being on the run for 18 years, officials said on Wednesday.
India has also taken note of reports of Saeed's son Talha contesting elections in Pakistan and said the "mainstreaming" of radical terror outfits in the neighbouring country is nothing new and that it has been part of its State policy for a long time.
"It (JK) is not a political issue as far as I can see. They have been barking up the wrong tree for the last 50 or 70 years by talking about the politics of it, that the political situation has never improved. We seriously need to look at in terms of how it is a society that is in search for itself," Drabu had said at an event organised by the PHD Chamber of Commerce and Industry in New Delhi on Friday.
Portfolios were on Tuesday allocated in the new Bihar cabinet headed by Chief Minister Nitish Kumar who, predictably, retained the all-important home department which helps him keep direct control on the state police.
State higher education minister R Bindhu has directed a three-member team, comprising the principal secretary of higher education, and Cochin University's vice-chancellor and registrar, to inquire into the stampede incident, an official release said.
Their favourite alternatives: Malaysia, Vietnam and the Philippines. Note, India is missing from that list. And this is despite an attractive financial incentive scheme for OSAT players. The reason, said a senior executive of a US chip company who had a meeting in Taiwan just a few weeks ago, is that "they want more predictability in government policy because they plan to put in big money."
'I'm very much against petrol and diesel....'' 'I travel in an electric car.' 'I have had a really good experience with it.'
The work we have done in the south and the northeast over the last 10 years under Prime Minister Modi's leadership, we have started getting results of the same, he said.
The Aam Aadmi Party has told the Supreme Court that it has not 'encroached' the land of the Delhi high court at Rouse Avenue in New Delhi and that the space was allotted to it in 2015.
Entrepreneurship, education and training will be provided in 2,200 colleges, 300 schools, 500 government ITIs and 50 vocational training centres through massive open online courses.
'If Rahul couldn't persuade his colleagues without resorting to theatrics, then maybe politics wasn't his calling
A taxpayer whose deductions and exemption claims are less than Rs 3.75 lakh annually would be advised to opt for the new income tax regime and pay less tax than they gave in the old regime, a senior finance ministry officer said on Wednesday. The Income Tax Department has arrived at the figure after making due calculations for ensuring a "hassle-free and less tax rate" filing regime for the assessees, he said. Union Finance Minister Nirmala Sitharaman, while presenting the Budget for 2023-24, said the government has made the new income tax regime more attractive for taxpayers bringing "substantial changes" in its structure for the benefit of the middle class.
'Most young taxpayers prefer income tax filing to be flexible yet straightforward.'
The Appointments Committee of Cabinet has named Ravneet Kaur, a Punjab cadre IAS officer of 1988 batch, as chairperson of the Competition Commission of India (CCI). Kaur will hold the post for five years or until attaining the age of 65. She is the second woman to serve in an 'economic regulator' role after Madhabi Puri Buch, who was appointed chairperson of the Securities and Exchange Board of India last year and the first woman to head the country's chief national competition regulator.
Chaudhary Charan Singh, who on Friday was conferred with India's highest civilian award Bharat Ratna, is popularly known as a champion of farmers.
Shelar demanded that Desai's death should not be treated just as a case of accidental death, but must be dealt with from a larger perspective.
The contribution from asset management companies (AMCs) has surpassed the Rs 3,000 crore target for the creation of a Rs 33,000 crore backstop facility for debt mutual funds (MFs). The initial corpus for the Corporate Debt Market Development Fund (CDMDF) is nearly Rs 3,100 crore, according to multiple government officials and AMC executives. "The fund is operational now. "The required corpus has been raised by AMCs and the remaining part (Rs 30,000 crore) is in the form of a guarantee from the government which will be activated only in case of a credit event," explained D P Singh, joint CEO and deputy MD, SBI MF.
The Income Tax department Saturday issued an advisory that those permanent account numbers (PAN) which are not linked with Aadhaar by the end of March next year will be rendered "inoperative". "What is mandatory, is necessary. Don't delay, link it today!" the department said in a public advisory. "As per Income-tax Act, 1961, it is mandatory for all PAN holders, who do not fall under the exempt category, to link their PAN with Aadhaar before 31.3.2023. From 1.04.2023, the unlinked PAN shall become inoperative," it said.
New Delhi was reluctant to spook investors by clipping the bank's wings
Former Reserve Bank of India governor Dr Raghuram Rajan -- the Katherine Dusak Miller Distinguished Service Professor of Finance at the University of Chicago -- walked with Congress leader Rahul Gandhi during the Bharat Jodo Yatra in Sawai Madhopur, Rajasthan, on Wednesday, December 14, 2022.
Notably, Pakistani journalist Ali, cited the BBC documentary on the 2002 Gujarat riots and said he "regretted" that no US official had criticized it, while the US State Department highlighted the close relationship between the two countries, especially over shared values.
The finance ministry will kick-start the exercise to prepare the annual Budget for 2023-24 from October 10, in the backdrop of revival of the Indian economy and fears of recession in developed countries. The budget for the next year will have to address critical issues of high inflation, job creation, boosting demand, and putting the economy on a sustained 8 per cent-plus growth path. On Wednesday, finance minister Nirmala Sitharaman said inflation is no longer "red-lettered" and the priority for the government now is job creation and boosting growth.
'If taxpayers have not filed a belated ITR, they will be allowed to file an updated ITR from April 1, 2024.'
Worried by a spate of suicides by hanging, the authorities in the coaching hub of Kota have taken a desperate measure -- ordering hostels to install a spring device on ceiling fans to stop students from taking their lives.
Experts recommend awaiting the findings of the 2021 Census, which is yet to be conducted, before introducing population control policies.
Going by the RBI directive and the overall narrative, Paytm may have lost the rigour of stress tests, audits and compliance.
The government is targeting export of goods and services worth $2 trillion by 2030.
The Parliamentary Standing Committee on Commerce has observed that a massive shortfall in the budgetary allocation of over Rs 1,900 crore by the finance ministry to the industry department may have an adverse impact on the implementation of infrastructure (infra) projects in 2022-23 (FY23). While the Department for Promotion of Industry and Internal Trade (DPIIT) had sought Rs 10,267 crore from the finance ministry for FY23, it received Rs 8,348-crore allocation. For the National Industrial Corridor Development & Implementation Trust (NICDIT), the finance ministry has allocated Rs 1,500 crore instead of Rs 2,400 crore demanded for the project.
Seven of the meetings will be held in late November or early December at the finance ministry, as is the norm.
7 states account for over 80 per cent of the total direct tax collections by the Union government.
RediffGURUS Ashwini Dasgupta, Anu Krishna, Dr Karthiyayini Mahadevan and Jinal Mehta answer queries from Rediff readers.
The tax department had launched the action on Tuesday at the BBC's Delhi and Mumbai offices along with at least two linked premises as part of an investigation into alleged tax evasion against the British broadcaster in India.
Kevin Woods, head, visa department, British Deputy High Commission, Chennai, says you will need to show evidence that funds will be available throughout the length of your course.
Observing that it does not propose to run the administration in Manipur, the apex court said necessary verifications shall be carried out before issuing the Aadhaar cards expeditiously.
To tackle increasing demand, the Union Ministry of Power has urged central and state public-sector power-generating companies (gencos) and state power and energy departments to pick projects that are undergoing insolvency proceedings. The power ministry is looking at a quicker turnaround of these stressed power plants and enhancing power supply. Increasing demand is pushing states to scout for more power sources. "It is requested that state-owned gencos may be encouraged to participate in the corporate insolvency resolution process (CIRP) of stressed power assets, which are of strategic and commercial significance to the capacity addition plans of the states concerned.
The finance ministry on Friday withdrew expenditure curbs on various departments and ministries imposed in June in the wake of the COVID-19 second wave, reflecting improvement in public finances and the urgency to step up growth.
'Modigate is snowballing into a huge thing with the electorate. The BJP is in for huge punishment by the electorate.'
