News for 'Department of Finance'

NewsClick raids: US says it can't verify reports of 'China connection'

NewsClick raids: US says it can't verify reports of 'China connection'

Rediff.com4 Oct 2023

"We have seen reports about this outlet's ties to the People's Republic of China, but we can't comment yet on the veracity of those claims," State Department Spokesperson Vedant Patel told reporters at a news conference in Washington, DC on Tuesday.

Govt allocates Rs 928 cr to CBI, down by Rs 40 cr from FY 2024

Govt allocates Rs 928 cr to CBI, down by Rs 40 cr from FY 2024

Rediff.com1 Feb 2024

The agency had received Rs 946.51 crore to manage its affairs in the Budget Estimates for 2023-24, which was later increased to Rs 968.86 crore in the Revised Estimates.

'A prime minister should take the country forward'

'A prime minister should take the country forward'

Rediff.com19 Apr 2024

'The prime minister took a meeting recently and he asked for suggestions and ideas for a plan till 2047.'

From electronics to semiconductor, MNCs in search of policy stability

From electronics to semiconductor, MNCs in search of policy stability

Rediff.com29 May 2023

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."

DMDK chief Vijayakanth laid to rest with full state honours, people pay homage

DMDK chief Vijayakanth laid to rest with full state honours, people pay homage

Rediff.com29 Dec 2023

In several places, from roof-tops and flyovers, people showered petals and garlands on the truck.

UK student visa: Finance documents that you need

UK student visa: Finance documents that you need

Rediff.com7 Jul 2006

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.

Should you opt for the new tax regime? Read to find out

Should you opt for the new tax regime? Read to find out

Rediff.com1 Feb 2023

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.

'Indian manufacturers are making good-quality EVs'

'Indian manufacturers are making good-quality EVs'

Rediff.com29 Jul 2023

'I'm very much against petrol and diesel....'' 'I travel in an electric car.' 'I have had a really good experience with it.'

New party linked to 26/11 attack mastermind Hafiz Saeed to contest Pak polls

New party linked to 26/11 attack mastermind Hafiz Saeed to contest Pak polls

Rediff.com5 Feb 2024

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.

Ravneet Kaur: An IAS officer with varied experience

Ravneet Kaur: An IAS officer with varied experience

Rediff.com17 May 2023

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.

Expert panel to look into Kerala varsity stampede that claimed 4 lives: Govt

Expert panel to look into Kerala varsity stampede that claimed 4 lives: Govt

Rediff.com26 Nov 2023

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.

FinMin to kick-start Budget exercise from October 10

FinMin to kick-start Budget exercise from October 10

Rediff.com8 Sep 2022

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.

PAN to be invalid if not linked with Aadhaar by March 2023

PAN to be invalid if not linked with Aadhaar by March 2023

Rediff.com24 Dec 2022

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.

India's Startup Scorecard

India's Startup Scorecard

Rediff.com2 Apr 2024

For the startup ecosystem in India, the scorecard so far has been a mixed bag, observes Akhil Gupta.

Is That Raghuram Rajan With Rahul Gandhi?

Is That Raghuram Rajan With Rahul Gandhi?

Rediff.com15 Dec 2022

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.

Young Taxpayers Prefer New Tax Regime

Young Taxpayers Prefer New Tax Regime

Rediff.com31 Aug 2023

'Most young taxpayers prefer income tax filing to be flexible yet straightforward.'

Role of creditors to be probed in Nitin Desai death case: Fadnavis

Role of creditors to be probed in Nitin Desai death case: Fadnavis

Rediff.com3 Aug 2023

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.

Rs 1,900 crore deficit likely to hit infrastructure projects in FY23

Rs 1,900 crore deficit likely to hit infrastructure projects in FY23

Rediff.com20 Apr 2022

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.

US snubs Pak journalist's question over I-T surveys at BBC offices

US snubs Pak journalist's question over I-T surveys at BBC offices

Rediff.com16 Feb 2023

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.

Tasks Cut Out For New Commerce Secretary

Tasks Cut Out For New Commerce Secretary

Rediff.com26 Sep 2022

The government is targeting export of goods and services worth $2 trillion by 2030.

What Pranab Mukherjee thought about Rahul Gandhi

What Pranab Mukherjee thought about Rahul Gandhi

Rediff.com7 Dec 2023

'If Rahul couldn't persuade his colleagues without resorting to theatrics, then maybe politics wasn't his calling

Haven't encroached upon Delhi HC land: AAP tells SC

Haven't encroached upon Delhi HC land: AAP tells SC

Rediff.com16 Feb 2024

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.

Pre-Budget Consultations To Begin Soon

Pre-Budget Consultations To Begin Soon

Rediff.com16 Nov 2022

Seven of the meetings will be held in late November or early December at the finance ministry, as is the norm.

AMCs' contribution to backstop fund for debt MFs tops target

AMCs' contribution to backstop fund for debt MFs tops target

Rediff.com29 Nov 2023

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.

South will help reach Modi's goal of 370 LS seats: Gadkari

South will help reach Modi's goal of 370 LS seats: Gadkari

Rediff.com31 Mar 2024

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.

Kota to go in for suicide-proof ceiling fans as student deaths mount

Kota to go in for "suicide-proof" ceiling fans as student deaths mount

Rediff.com19 Aug 2023

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.

Charan Singh opposed Nehru's socialist economy

Charan Singh opposed Nehru's socialist economy

Rediff.com9 Feb 2024

Chaudhary Charan Singh, who on Friday was conferred with India's highest civilian award Bharat Ratna, is popularly known as a champion of farmers.

Govt lifts expenditure curbs linked to Covid-19

Govt lifts expenditure curbs linked to Covid-19

Rediff.com24 Sep 2021

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.

VVIP chopper scam: ED seeks assets details from MoD, income tax department

VVIP chopper scam: ED seeks assets details from MoD, income tax department

Rediff.com5 May 2016

Officials said the agency has sought property details on ten serving and retired officials of the ministry of defence and the IAF.

Tax 'survey' on BBC offices continues, clocks over 34 hours

Tax 'survey' on BBC offices continues, clocks over 34 hours

Rediff.com15 Feb 2023

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.

'Finance ministry supported NSE in fight with MCX'

'Finance ministry supported NSE in fight with MCX'

Rediff.com22 Mar 2014

Chary also says some government officials have played an important role in favouring organisations that MCX competes with.

Missed ITR Deadline? Read This!

Missed ITR Deadline? Read This!

Rediff.com17 Jan 2024

'If taxpayers have not filed a belated ITR, they will be allowed to file an updated ITR from April 1, 2024.'

Senior-level bureaucratic rejig at Centre, Rajendra Kumar made ESIC chief

Senior-level bureaucratic rejig at Centre, Rajendra Kumar made ESIC chief

Rediff.com25 Sep 2022

Kumar, a 1992-batch Indian Administrative Service officer of Tamil Nadu cadre, is currently an additional secretary in the ministry of electronics and Information Technology.

Does India Need A Population Policy?

Does India Need A Population Policy?

Rediff.com13 Feb 2024

Experts recommend awaiting the findings of the 2021 Census, which is yet to be conducted, before introducing population control policies.

Is There Time For A Reset For Paytm?

Is There Time For A Reset For Paytm?

Rediff.com12 Feb 2024

Going by the RBI directive and the overall narrative, Paytm may have lost the rigour of stress tests, audits and compliance.

Quick decision-making needed for combat-readiness: Rajnath

Quick decision-making needed for combat-readiness: Rajnath

Rediff.com14 Nov 2022

Defence Minister Rajnath Singh on Monday said swift and transparent decision-making and availability of optimal resources were needed for a country's combat readiness.

Health sector allocation hiked by 13% in Union Budget

Health sector allocation hiked by 13% in Union Budget

Rediff.com1 Feb 2023

The health sector has been allocated Rs 89,155 crore in the Union Budget 2023-24, a hike of around 13 per cent over Rs 79,145 crore allocated in 2022-23, with the government also announcing a mission to eliminate sickle cell anaemia by 2047.

132,497 Indians Have Income Of 1 Crore Plus

132,497 Indians Have Income Of 1 Crore Plus

Rediff.com6 Nov 2023

7 states account for over 80 per cent of the total direct tax collections by the Union government.

3-day survey found many tax-linked irregularities at BBC, says I-T dept

3-day survey found many tax-linked irregularities at BBC, says I-T dept

Rediff.com17 Feb 2023

The income and profits shown by various BBC group entities are "not commensurate" with the scale of their operations in India and tax has not been paid on certain remittances by its foreign entities, the income tax authorities said Friday, a day after they ended a three-day-long survey operation against the British media organisation.

Modi, other prominent leaders pay tributes to Parkash Singh Badal

Modi, other prominent leaders pay tributes to Parkash Singh Badal

Rediff.com26 Apr 2023

The Punjab government has declared a holiday on Thursday as a mark of respect to the former chief minister.