It could end the payment backlog and improve the revenue flow of discoms, says Piyush Goyal
Jaitley said focus is on larger expenditure on social sector.
There could be multiple measures announced in quick succession, not only by the finance minister but also other ministers regarding their respective sectors, and by the Reserve Bank of India. The total size of these announcements could rival that of other G-20 nations as a percentage of GDP.
Penalties for non-disclosure or inaccurate disclosure of these details can be severe.
During his visit, Hosseini called on Prime Minister Manmohan Singh and also met Finance Minister Pranab Mukherjee and National Security Advisor Shivshankar Menon.
It will allow more transparency in policies and flexibility in premium payment, besides improving processing of claims.
The rising COVID-19 infections across the country are a matter of concern, but it may not impact the ongoing economic revival as one does not foresee lockdowns, Reserve Bank Governor Shaktikanta Das said on Thursday. The economic revival will continue "unabated", Das said, asserting that there is no need for a downward revision of RBI's 10.5 per cent GDP growth forecast for FY22. Speaking at Times Network's India Economic Conclave, Das said, "We have 'insurance' to protect economic revival like a fast-paced vaccination drive, greater ability among people to follow COVID protocols", and one does not see lockdowns as well.
The plan could mature into either an umbrella programme for urban youths similar to the Garib Kalyan Rozgaar Abhiyaan or a modified urban-focused version of MGNREGS.
According to a PMO statement, Narendra Modi told banks this would be a source of immense satisfaction for them, and that he himself would recognise the achievements of the best performing branches.
The hoarding of cash accentuated from the very start of 2020, when the coronavirus pandemic started taking hold the world over, and fear of the pandemic prodded people to remain liquid for emergency use.
Business subsidies may attract tax
Here's what could be ahead for India: A $10-trillion economy by 2030-32, a Sensex at 1,00,000 by 2025, monthly GST revenues at Rs 2 trillion by 2024-25, 100 new unicorns by 2025, and poverty below 5 per cent by 2030, predicts R Jagannathan.
The government plans to transfer all subsidies including food, fertiliser and kerosene, potentially taking direct payments to more than $60 billion.
According to sources, the postal bank will tie up with other banks and financial companies to offer products like loans, mutual funds, and insurance policies to its customers.
'The effect will be seen two-three quarters down the line.'
The global ratings agency, however, cautioned that high debt burden remains a constraint on the country's credit profile.
New government should consider reforming taxation rules.
While GST and insolvency laws are among the major achievements of the Modi government, the list of failures include demonetisation, toxic banks, manufacturing hiccups and most prominently bizarre job creation figures. Mihir S Sharma takes a look at the four years of Modi government.
The Cabinet on Wednesday approved the National Mission on Edible Oils - Oil Palm (NMEO-OP) with a financial outlay of Rs 11,040 crore to promote domestic cultivation of oil palm in the next five years, and reduce the country's dependence on edible oil imports. The decision comes after Prime Minister Narendra Modi announced the new central scheme on August 15 during his Independence Day speech at Red Fort. Briefing the media, Union Information and Broadcasting Minister Anurag Thakur said the Cabinet approved the NMEO-OP with a focus on the northeast region and the Andaman and Nicobar Islands with a financial outlay of Rs 11,040 crore.
Performance-based incentives were recommended by the 13th Finance Commission, but omitted by the 14th Finance Commission
The court was hearing petitions challenging the Aadhaar scheme.
The BJP president also accused Congress leaders, including a chief minister, of trying to actively create vaccine hesitancy during the once-in-a-century pandemic.
Petroleum and Natural Gas Minister Dharmendra Pradhan speaks to Sheela Bhatt/Rediff.com.
On a day the Punjab assembly passed a resolution seeking immediate transfer of Chandigarh to the state, Haryana Chief Minister Manohar Lal Khattar said the city will remain the joint capital of both states.
Modi wants the BJP to gets an additional 10% of the vote share from what it won in 2019. Plans are afoot to get new faces to replace MPs with poor chances of winning. Sources say more than 100 MPs are like to be axed, notes Modi biographer Ramesh Menon.
Attractive pricing coupled with improving prospects make the offer lucrative
The Income-Tax (I-T) department has issued around 8,000 notices to salaried employees, self-employed individuals, and companies who made significant donations to charitable trusts. The department suspects potential tax evasion, as records of these donations do not correspond with the income and expenses of those making them. Sandeep Bajaj, managing partner, PSL Advocates & Solicitors, says, "Notices were issued for donations made during the assessment years of 2017-18 through 2020-21."
The government would have to assure the Supreme Court that collection of biometric data under Aadhaar does not violate privacy.
Modi had campaigned with promises of jobs, infrastructure and development.
To cut subsidy bill and reduce fiscal deficit, the previous United Progressive Alliance government had restricted the number of subsidised domestic cylinders per household to six every year in September 2012, revising it to nine the following January
Fifty-six months on, the government's record in implementing these schemes and projects has been mixed, report Arup Roychoudhury and Indivjal Dhasmana.
The most immediate challenge for growth is the disruption of the global economy brought about by the Ukraine war and related sanctions, the Covid shutdowns in China and the rising tide of inflation, points out Nitin Desai.
'Many non-resident taxpayers faced issues in filing Form 10F since the portal didn't allow those who didn't have PAN to file the form.'
Prime Minister Narendra Modi on Saturday released Rs 20,946 crore to 10.09 crore farmers across India as the 10th installment of financial aid under the PM-KISAN scheme and said there was a need for innovation in agriculture along with promotion of natural farming. Under the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme, a financial benefit of Rs 6,000 per year is provided to the eligible farmer families, payable in three equal installments of Rs 2,000. The PM-KISAN scheme was announced in the February 2019 Budget.
The Lakhimpur Kheri violence, in which four farmers were killed, is "absolutely condemnable," Finance Minister Nirmala Sitharaman has said, emphasising that there are issues of such nature happening in other parts of India equally which should be raised "when they happen and not when it suits others" because there is a Bharatiya Janata Party government in Uttar Pradesh.
Be it loan waiver or DBT transfer, it only helps in creating a "feel good" factor and postpones the problem for some time if structural problems are not handled.
The Direct Benefit Transfer for LPG scheme was rolled out in 291 districts from June 1, 2013 in six phases to do away with the practice of selling the fuel at below cost rates.
Without naming the Congress, he said the frustration of a party, which ruled for four generations, was at the root of this politics of opposition for opposition's sake.
'Gruha Lakshmi Yojana' is an attempt of the Congress party to share the 'burden of the exorbitant' LPG prices and the 'costly daily expenses' that a woman has to bear, the party said.
In a presentation prepared for the incoming Narendra Modi-government, the ministry listed national oil companies losing focus on domestic exploration as well as legal disputes around signed contracts with private explorers among the five things that went wrong during the United Progressive Alliance regime.
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