A communiqu sent by the department of investment and public asset management (DIPAM) to the heads of all PSUs, said the move would help the government to get predictable and periodic dividends before Budget estimates are firmed up.
The federal probe agency obtained these receipts from two Ranchi-based dealers and attached those to its charge sheet filed against the 48-year-old Jharkhand Mukti Morcha (JMM) leader and four others last month.
A combination of factors, including heavy investments in US Treasury bonds and dollar sales at a healthy profit, facilitated the Indian central bank in transferring a record surplus of Rs 2.11 trillion to the government for 2023-24 (FY24). The RBI's dollar purchases increased in FY24, supported by robust capital inflows endorsing the economy's health.
'The BJP's numbers in this government are almost the same as those enjoyed by the Congress under P V Narasimha Rao when the reform process was kicked off in 1991.' 'As before, the only constraints on the prime minister's actions are internal, not external.' 'They come from his own assessment of the political consequences of any action,' points out Mihir S Sharma.
The Budget proposed abolishing the under-performing, authority of advance ruling, to replace it with a two-member board of advance ruling.
Tourist centres have been closed in many districts, including Kottayam and Thiruvananthapuram, and a night travel ban has been imposed in the hilly areas of Idukki district.
'If businessmen should be included in the political process -- which is essential in my opinion -- they need to have the freedom to express themselves and to take stands against the government of the day, without fear of reprisals and attacks on their business.'
The IT department has a designated official to execute these rare powers.
Indian family-run business houses have in recent years seen ugly public spats between owners over control. But metals-to-ports conglomerate Essar's Ruia family seems to be an exception. Three generations of the Ruia family - founder brother Shashi and Ravi Ruia, their children and grandchildren - continue to live under one roof and jointly run the business empire.
Bihar Deputy Chief Minister Sushil Kumar Modi said, a hike in GST rates would have hampered consumption amid the economic slowdown. The revenue augmentation panel in the Council meeting recently recommended revisiting and restructuring the GST rate slabs, besides correcting the inverted duty structure. The panel listed 24 items, including mobile phones, footwear, fabrics, LED light, medical equipment, utensils, agri machinery, pharma, and renewable components, which have an inverted duty structure, resulting in refunds of close to Rs 20,000 crore annually.
'We have essentially tried to set out an agenda for the next five years and it, in essence, represents the political commitment to that agenda.'
Taking both direct and indirect taxes, the gross collection is expected to grow 10.45 per cent to Rs 33.61 trillion in 2023-2024.
GST collection rose 11 per cent to over Rs 1.65 lakh crore in July as a result of anti-evasion measures and higher consumer spending. This is the fifth time since the rollout of the Goods and Services Tax (GST) regime that monthly collections have crossed the Rs 1.60 lakh crore mark -- making it the new normal. "Gross GST revenue collected in July is Rs 1,65,105 crore of which CGST is Rs 29,773 crore, SGST is Rs 37,623 crore, IGST is Rs 85,930 crore (including Rs 41,239 crore collected on import of goods) and cess is Rs 11,779 crore (including Rs 840 crore collected on import of goods)," the finance ministry said in a statement.
Rajasthan is reeling under a huge financial burden with the state's debt having gone beyond Rs 5.59 lakh crores. Rajasthan has increased expenditure on education by 203.4 percent, by 105.4 percent on health, by 227.14 percent on housing. Its expenditure on social welfare schemes has increased by almost 2,475 per cent.
If you think that revenue officials are going berserk, acting on their own, while the government chants the mantra of 'ease of doing business', you would be wrong. These moves appear to have full official backing, points out Debashis Basu.
Revenue from divestment has fetched Rs 40,000-50,000 crore against target of Rs 2.10 trillion.
Reliance General Insurance Company (RGIC), a subsidiary of Reliance Capital, finds itself in a bind as the Directorate General of GST Intelligence (DGGI) has issued multiple Show Cause Notices (SCNs) amounting to Rs 922.6 crore. This development comes at a time when Reliance Capital is currently undergoing a debt resolution under the National Company Law Tribunal (NCLT) process in which the Hinduja group has emerged the winner. The Hinduja acquisition is currently awaiting the Supreme Court's approval after the Torrent group, the winner of the first round, challenged the second auction conducted by the lenders of Reliance Capital.
Almost 25 per cent central government posts were vacant as of March 2022, compared to 9.4 per cent in March 2002.
The government has exhausted only 39 per cent of its fiscal deficit target in the first half of FY24.
'Can you imagine that Surat's voters won't have any say now in exercising their fundamental right to choose a candidate of their own choice? This is what the BJP has reduced India's democracy to.' 'With this ugly act, in one stroke, the BJP has disenfranchised the voters of Surat.'
The government has set a revenue target of Rs 9 lakh crore during the current financial year, a top official said.
This is part of a strategy to mop up as much revenue as possible in the current financial year.
The Enforcement Directorate on Tuesday conducted raids against Hero Motocorp executive chairperson Pawan Munjal and others as part of a money laundering investigation, official sources said. The searches were carried out at premises located in Delhi and neighbouring Gurugram in accordance with provisions of the Prevention of Money Laundering Act (PMLA).
"Are we not giving a picture that there is no other person and the entire department is full of incompetent people?" a bench headed by Justice B R Gavai told Solicitor General Tushar Mehta.
The revenue from GST for the current fiscal has been pegged at over Rs 4.44 lakh crore, while for next fiscal it is Rs 7.43 lakh crore.
'We now look at divestment as an opportunity for maximising the value of public assets, not necessarily as a short-term resource-raising measure.'
To check digital frauds, the government has disconnected 70 lakh mobile numbers so far involved in cybercrime or financial frauds, Financial Services Secretary Vivek Joshi said on Tuesday. Emerging from a meeting to discuss issues related to financial cyber security and increasing digital payment fraud, Joshi, who chaired the meeting, said banks have been asked to strengthen the system and processes in this regard. More such meetings would take place, he said, adding the next meeting is scheduled in January.
The Madras high court on Friday upheld a trial court order convicting over 200 men, including forest and police officials and sentencing them to various prison terms for atrocities committed against tribals including rape, where the victims included a minor girl and a pregnant woman.
There are doubts about the meeting of indirect tax collection target for the current fiscal as there is slowdown in the economy.
The Enforcement Directorate (ED) has attached 8.86 acres of land in Ranchi allegedly owned by former Jharkhand chief minister Hemant Soren as part of a money laundering investigation against him and his associates, the federal agency said on Thursday.
PMO asked income-tax department to submit report on action taken against identified benami owners
The minister said the companies have given representation which is being examined by the DoT before taking a final decision.
'There was a statement by a minister that 30,000 Kashmiri Pandits have come back to the Kashmir Valley after the abrogation of Article 370, it is all b.......t and a white lie.' 'Nobody has come back.'
The case was registered against the minister and four others earlier this week on the orders of the high court, after the local police allegedly did not act on the complaint filed with them.
Amid a fresh wave of protests in Maharashtra over the Maratha quota demand, authorities in Dharashiv district of the state on Wednesday started distributing Kunbi caste certificates to the eligible Maratha community members, paving the way for their inclusion in the OBC category.
Chaudhary Charan Singh, who on Friday was conferred with India's highest civilian award Bharat Ratna, is popularly known as a champion of farmers.
According to sources, DoT has been asked to prepare a matrix of various levels of reserve price and spectrum usage charge at every Rs 1,000 crore (Rs 10 billion) difference in descending order and the impact that would have on tariffs for end-consumer and the revenue accrued to the government.
Deputy Chief Minister Manish Sisodia holds as many as 18 of the total 33 departments, including education, finance and home.
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