News for 'Department of Finance'

Ajit Pawar back as deputy CM for 3rd time in 4 yrs

Ajit Pawar back as deputy CM for 3rd time in 4 yrs

Rediff.com2 Jul 2023

Pawar, who was also the deputy CM in the previous Uddhav Thackeray-led Maha Vikas Aghadi (MVA) government, which was in power from November 2019 to June 2022, enjoys the image of a grassroot leader and an able administrator.

Govt likely to miss capex target for FY 21-22

Govt likely to miss capex target for FY 21-22

Rediff.com14 Apr 2022

Only 80.6 per cent of the Rs 6-trillion allocation has been spent by February, data from the Controller General of Accounts shows.

Sitharaman on Adani fallout: Regulators will look into it

Sitharaman on Adani fallout: Regulators will look into it

Rediff.com4 Feb 2023

India's economic image is not affected due to Adani Group's recent decision to pull out Rs 20,000 crore FPO (follow-on public offers) amid allegations of financial wrongdoings, Finance Minister Nirmala Sitharaman said on Saturday.

Fodder scam: Lalu Prasad gets bail in Doranda Treasury case

Fodder scam: Lalu Prasad gets bail in Doranda Treasury case

Rediff.com22 Apr 2022

The former Bihar Chief Minister was sentenced to five years in prison and slapped a fine of Rs 60 lakh by a special CBI court in Ranchi in connection with the fifth fodder scam case involving embezzlement of over Rs 139 crore by Doranda treasury.

Unwell Nitish skips Chennai but Friday's Opposition conclave is very much on

Unwell Nitish skips Chennai but Friday's Opposition conclave is very much on

Rediff.com20 Jun 2023

Ill-health forced Bihar Chief Minister Nitish Kumar to cancel his scheduled visit to Chennai on Tuesday, where he was invited by his Tamil Nadu counterpart MK Stalin, a key aide of the Janata Dal-United leader said.

Delhi LG removes AAP govt nominees from discom boards

Delhi LG removes AAP govt nominees from discom boards

Rediff.com11 Feb 2023

The ruling Aam Aadmi Party termed the LG's orders removing Shah and Gupta from the boards of discoms "illegal and unconstitutional". The LG does not have the power to issue such orders, it claimed.

'Aur kya chahiye insider banne ke liye?'

'Aur kya chahiye insider banne ke liye?'

Rediff.com4 Oct 2023

'I have a problem with the term 'outsider'. 'Doctor ka beta doctor banta hain, par aap baki doctors ko outsider nahi na bulate.' 'I always wanted to be an actor, yaar.' 'While I was in the bank for eight years, I was training to be an actor in Delhi.'

Himachal CM Sukhu to expand cabinet, Vikramaditya among new ministers

Himachal CM Sukhu to expand cabinet, Vikramaditya among new ministers

Rediff.com7 Jan 2023

The swearing-in ceremony of the new ministers would take place at the Raj Bhavan in Shimla on January 8 at 10 am, the sources said on Saturday.

26/11 mastermind Hafiz Saeed gets 31 years in jail

26/11 mastermind Hafiz Saeed gets 31 years in jail

Rediff.com8 Apr 2022

Earlier in five such cases, the 70-year-old radical cleric had already been convicted for 36 years imprisonment.

'Politically, BJP is ruthless'

'Politically, BJP is ruthless'

Rediff.com20 Jul 2023

'The BJP think they are running an ideology machine in this country, and they have to convert everyone, from people to parties to party leaders.'

I-T dept may make PAN mandatory for crypto investors

I-T dept may make PAN mandatory for crypto investors

Rediff.com10 Aug 2022

The income-tax department may make a permanent account number (PAN) mandatory for cryptocurrency investors, in line with the demat account rules for stock market transactions, according to two people privy to the discussion. At present, disclosure of crypto holdings and related gains is voluntary. If tax authorities go ahead with the PAN mandate, crypto exchanges will have to furnish a statement of financial transactions (SFT) before the income-tax department.

BJP strikes back as Kharge calls Modi a 'poisonous snake'

BJP strikes back as Kharge calls Modi a 'poisonous snake'

Rediff.com27 Apr 2023

Congress President M Mallikarjun Kharge on Thursday likened Prime Minister Narendra Modi to a "poisonous snake", drawing strong rebuke from the Bharatiya Janata Party which said "hate is coming out" with such comments and sought an apology from the veteran leader.

BJP furious as Kharge fires 'poisonous snake' barb at Modi

BJP furious as Kharge fires 'poisonous snake' barb at Modi

Rediff.com27 Apr 2023

Congress president M Mallikarjun Kharge on Thursday likened Prime Minister Narendra Modi to a poisonous snake, drawing strong rebuke from the Bharatiya Janata Party which said 'hate is coming out' with such comments and sought an apology from the veteran leader.

Revealed: How PM Planned Demonetisation

Revealed: How PM Planned Demonetisation

Rediff.com8 Nov 2022

November 8 marks 6 years after demonetisation. A K Bhattacharya reveals how the prime minister and the RBI worked together for months before Modi's 8 pm speech. A riveting excerpt from The Rise Of Goliath: Twelve Disruptions That Changed India.

Why Amit Mitra is important to Mamata

Why Amit Mitra is important to Mamata

Rediff.com27 Nov 2021

No longer Bengal's finance minister, Amit Mitra, Mamata's principal chief advisor, will still advise and aid the 'chief minister and finance department on all matters relating to management of state finance', represent the 'state government in national and international events/meetings/committees' and examine 'important proposals/files and policy issues relating to financial matters referred to him for advice/views'.

Was Narasimha Rao India's Best Prime Minister?

Was Narasimha Rao India's Best Prime Minister?

Rediff.com22 Aug 2023

'He told senior journalists a few days after the Babri Masjid demolition, 'Jo hua theek hua. Maine isliye hone diya ki BJP ki rajniti hamesha ke liye khatam ho jaye.'

Sebi asks Indiabulls to take a few corrective measures

Sebi asks Indiabulls to take a few corrective measures

Rediff.com5 Mar 2022

Market regulator Securities and Exchange Board of India (Sebi) in its investigation against Indiabulls Housing Finance has found the mortgage financier non-compliant with regards to unavailability of certain information on its website as well as its internal policy. Thereby, it has directed the company to take corrective measures and inform the stock exchanges in a months' time. Several public interest litigations (PILs) and FIRs were filed against Indiabulls Housing Finance back in 2019, alleging irregularities, siphoning of funds, and other violations committed by the promoters of the company.

Can India Break the Jinx in WTC Final?

Can India Break the Jinx in WTC Final?

Rediff.com6 Jun 2023

India has lost three finals and on four occasion it bit dust at the semifinal stage. It also made an exit at the preliminary stage of the 2021 T20 World Cup.

Himanta inducts 2 cabinet ministers, rejigs several seniors' portfolios

Himanta inducts 2 cabinet ministers, rejigs several seniors' portfolios

Rediff.com9 Jun 2022

The expansion was the first by Sarma since he assumed chief ministership of the state about 13 months ago.

Record Rs 32,000 Crore Seized in Tax Raids

Record Rs 32,000 Crore Seized in Tax Raids

Rediff.com24 Jan 2022

Since arraignment under money laundering is a tougher offence, the CBDT hopes it will also overcome its dismal score sheet to prove satisfactorily to the courts that these cases were genuine ones of tax evasion.

GST Council may take up e-game tax in December meet

GST Council may take up e-game tax in December meet

Rediff.com22 Oct 2022

It will also be new Revenue Secretary Sanjay Malhotra's first GST Council meeting. He will take charge after the incumbent Tarun Bajaj retires on November 30.

Trump first US ex-president to face criminal charge, expected to surrender on Monday

Trump first US ex-president to face criminal charge, expected to surrender on Monday

Rediff.com31 Mar 2023

Donald Trump has been indicted by a Manhattan grand jury on charges related to paying off a porn star during his 2016 presidential campaign, making him the first former US president to face a criminal charge and upending his bid to retake the White House in 2024.

Govt gets Rs 4,353 cr as dividend from 7 PSUs

Govt gets Rs 4,353 cr as dividend from 7 PSUs

Rediff.com15 Mar 2022

The government on Tuesday said it has received Rs 4,353 crore as dividend tranches from seven public sector enterprises, including Coal India and PFC. Government has respectively received about Rs 575 crore and Rs 2038 crore from Nuclear Power Corporation of India Ltd and Coal India Ltd as dividend tranches," Department of Investment and Public Asset Management (DIPAM) secretary Tuhin Kanta Pandey tweeted. Besides, about Rs 887 crore and Rs 653 crore have been received from Power Finance Corporation (PFC) and Hindustan Aeronautics Ltd as dividend tranches.

Vodafone Idea in talks with vendors for 5G rollout

Vodafone Idea in talks with vendors for 5G rollout

Rediff.com16 Feb 2023

Vodafone Idea (Vi) is in continuous talks with network vendors to finalise its 5G rollout plans, Vodafone Idea CEO Akshaya Moondra said. "We are in early stages of 5G deployment. "5G is an important development and we are keeping our eyes on it," Moondra said on Wednesday in a post-result analyst call. Already five months behind rivals Jio and Airtel in the 5G race, Vi's efforts will be on the deployment of 5G in target geographies.

China puts hold on proposal at UN to blacklist 26/11 LeT handler

China puts hold on proposal at UN to blacklist 26/11 LeT handler

Rediff.com17 Sep 2022

China has put a hold on a proposal moved at the United Nations by the United States and co-supported by India to designate Lashkar-e-Taiba (LeT) terrorist Sajid Mir, one of India's most wanted terrorists and the main handler of the deadly 2008 Mumbai attacks, as a global terrorist.

India-US joint statement puts trade at heart of enhanced ties

India-US joint statement puts trade at heart of enhanced ties

Rediff.com23 Jun 2023

India and the US on Thursday said they are looking forward to the reconvening of the India-US Trade Policy Forum later this year to further enhance trade relationship and identify new areas for engagement.

Rupee trade: 9 Russian banks open vostro accounts

Rupee trade: 9 Russian banks open vostro accounts

Rediff.com16 Nov 2022

The Reserve Bank of India (RBI) has allowed the opening of nine special vostro accounts with two Indian lenders - Uco and IndusInd Bank - to facilitate overseas trade in rupee, Commerce Secretary Sunil Barthwal said on Tuesday. Apart from the domestic lenders, Russia's two largest banks - Sberbank and VTB Bank - are the first foreign lenders to have received approval from the central bank for settling international trade transactions in rupee. "Nine accounts have been opened. One each in Uco Bank, Sberbank, and VTB and six with IndusInd Bank. There are six different Russian banks who have opened special vostro account in IndusInd," Barthwal said.

New Covid strains may lead to spike in hospitalisation, fear experts

New Covid strains may lead to spike in hospitalisation, fear experts

Rediff.com27 Oct 2022

An immune-escape Covid-19 strain coupled with the natural spike in influenza and pneumonia cases during winters may lead to a rise in hospitalisation.

The Many Portfolios Of Yogi Adityanath

The Many Portfolios Of Yogi Adityanath

Rediff.com4 Apr 2022

In his second term in office, UP Chief Minister Yogi Adityanath has retained 34 portfolios.

Had meeting with Adanis, happy about it: LIC chairman M R Kumar

Had meeting with Adanis, happy about it: LIC chairman M R Kumar

Rediff.com6 Mar 2023

Confirming a meeting with the top management of the Adani Group, Life Insurance Corporation Chairman M R Kumar said on Sunday that the interaction had gone well. "There's nothing I can state as of now on the outcome of that meeting. "But yeah, we've had the meeting....we are quite happy about this meeting," Kumar said on the sidelines of the 22nd Global Conference of Actuaries in New Delhi.

What's Greenwashing?

What's Greenwashing?

Rediff.com21 Apr 2023

Greenwashing is making misleading or false environment-friendly claims about a product. Consumers in India currently do not have any way of telling whether a claim is authentic or greenwashing. And one never hears of action against any company for making false claims of being environment-friendly.

Budget: Health sector allocation sees 16% hike to Rs 86,200 cr

Budget: Health sector allocation sees 16% hike to Rs 86,200 cr

Rediff.com1 Feb 2022

Out of Rs 86200.65 crore, Rs 83,000 crore have been allocated to the department of health and family welfare while Rs 3200 crore have been allocated to the department of health research.

'Firecracker blast' reported from TMC leader's house in Bengal's Birbhum

'Firecracker blast' reported from TMC leader's house in Bengal's Birbhum

Rediff.com22 May 2023

Another explosion "linked to illegal firecrackers" took place in West Bengal on Monday, the third such blast within a span of just seven days.

Unified MCD comes into existence, Gyanesh Bharti new commissioner

Unified MCD comes into existence, Gyanesh Bharti new commissioner

Rediff.com22 May 2022

With the special officer and the new commissioner taking charge, the exercise to reshuffle and reorganise the municipal staff will begin.

CBI grills Satya Pal Malik for 5 hrs over his claim in bribery cases

CBI grills Satya Pal Malik for 5 hrs over his claim in bribery cases

Rediff.com28 Apr 2023

A Central Bureau of Investigation team on Friday arrived at the Som Vihar residence of former Jammu and Kashmir governor Satya Pal Malik in connection with its probe in the alleged insurance "scam" in the Union territory which came to light after his statement that he was offered bribes to clear related files, officials said.

Fund-raises by fintechs slowed by 47% in 2022

Fund-raises by fintechs slowed by 47% in 2022

Rediff.com20 Mar 2023

Recently, Slice, a payment app, acquired a 5 per cent stake in North East Small Finance (NESF) for $3.42 million - the first such deal by a fintech in a small finance bank. Slice (valued at $1.5 billion, and backed by Tiger Global, Blume Ventures and Axis Bank) will technically get a toehold in a scheduled commercial bank if NESF were to get a licence to morph into one down the line Such a transition is well within the banking regulator's declared framework. The transaction has to be seen in a larger context.

FM readies roadmap to boost infrastructure spending

FM readies roadmap to boost infrastructure spending

Rediff.com11 Jun 2021

Finance Nirmala Sitharaman on Friday asked various ministries to try to spend more than their capital expenditure targets as well as explore public private partnerships for viable projects. During a meeting with senior government officials to discuss the infrastructure roadmap, she also urged the ministries and their CPSEs to ensure clearance of Micro, Small and Medium Enterprises (MSME) dues at the earliest. This was the fifth review meeting by the finance minister with ministries and departments on the infrastructure roadmap.

I-T Goes After Rs 7.7 Trillion Tax Arrears

I-T Goes After Rs 7.7 Trillion Tax Arrears

Rediff.com5 Jan 2023

Senior tax officials were told to focus on cash collection from the arrears so that the target for FY23 was achieved and the overall revenue position improved.

Maximum tenure of 5 years for chiefs of CBI and ED, says SC

Maximum tenure of 5 years for chiefs of CBI and ED, says SC

Rediff.com11 Jul 2023

The Supreme Court on Tuesday upheld the validity of two central laws and the corresponding rules that provide for a maximum tenure of five years for the directors of the CBI and Enforcement Directorate.