The thinking at the Centre is that since the RBI has ramped up purchases of government bonds, the interest earned on them will be transferred to the exchequer as dividend.
To make possible discretionary spending including capex and that on welfare, the government decided to borrow more than planned in FY21 -- Rs 12.7 trillion.
'Chidambaram, lots of people argue not without justification, is all about bluff and bluster without any concrete achievement on the ground. His record in the finance ministry fully endorses that view,' argues Virendra Kapoor.
'Give cash assistance of Rs 75 per person per day and an android phone and you will see the economy reviving.'
Stating that a weak fiscal position continues to constrain India's sovereign ratings, Fitch said the next government's medium-term fiscal policy will be of particular importance from a rating perspective.
Former chairman of the UIDAI Nandan Nilekani, elucidates how Aadhaar could become the spine for alternative banking and could replace government services with cash benefits.
Of the seven surveys presented under Modi govt, predictions of three were quite close to the actual GDP growth rate, one saw the base year change in between, but the last three were way off the mark.
'Economic issues do not matter during elections; it is the emotional connect that helps swing votes.'
Renu Mittal explains why United Progressive Alliance government's crucial legislative plans may not work despite all its efforts.
The Aadhaar-enabled payment system, or AEPS, allows consumers who don't have smartphones or debit cards to perform basic banking transactions like cash deposit, cash withdrawal, intrabank or interbank fund transfer, balance enquiry and obtaining a mini statement through biometric authentication at micro-ATMs.
Regulator Sebi on Friday imposed penalties on Reliance Industries Ltd, its chairman and managing director Mukesh Ambani as well as two other entities for alleged manipulative trading in the shares of erstwhile Reliance Petroleum Ltd (RPL) back in November 2007. Fines of Rs 25 crore and Rs 15 crore have been imposed on Reliance Industries Ltd (RIL) and Ambani, respectively. Besides, Navi Mumbai SEZ Pvt Ltd has been asked to pay a penalty of Rs 20 crore and Mumbai SEZ Ltd has been directed to pay Rs 10 crore. The case pertains to sale and purchase of RPL shares in the cash and the futures segments in November 2007.
According to an Election Commission statement, the two have decided not to avail exemption from income tax on sumptuary allowance and to surrender two of the three Leave Travel Concessions (LTC) available each year.
A special PMLA court here, while taking cognisance of a charge sheet filed against former policeman Sachin Waze and others in an alleged money laundering case, has said the money trail prima facie indicates that former Maharashtra home minister Anil Deshmukh received Rs 4.7 crore from Waze and his aide Kundan Shinde.
Wonder how you sanitise your groceries and deliveries and keep yourself and your family safe from the coronavirus?
'When we say we want to increase pension participation, do we want to increase participation through the savings route?' 'Or do we want people to save in specific pension products?' asks Renuka Sane.
Retaining the GST rate assumes importance since states are under pressure to increase their revenues, hit hard by lockdown. Also, the Centre has not fully compensated states for their revenue losses on account of GST for 2019-20.
It is a 'very disturbing' scenario in Maharashtra where former police commissioner Param Bir Singh does not have faith in his own force and the state government has no faith in the Central Bureau of Investigation, the Supreme Court said on Tuesday.
'I believe the modified scheme is much more beneficial and simpler.'
The Enforcement Directorate (ED) has issued fresh summons to Shiv Sena MP Sanjay Raut asking him to appear on July 1 for questioning in a money laundering case linked to the re-development of a Mumbai 'chawl' and other related financial transactions involving his wife and friends, officials said.
7 key areas that the Budget must address to re-energise the infrastructure sector, suggests Vinayak Chatterjee.
SpiceJet, India's second-largest private airline, kicked off the process of hiving off its logistics business to its subsidiary SpiceXpress as it looks to raise much-needed capital. On Tuesday, the company sought its shareholders' approval to complete the process and to raise up to Rs 2,500 crore via a qualified institutions placement (QIP). It is in talks with multiple private equity investors as it tries to sell shares in the logistics arm to raise money.
The SIP route suits the salaried class, by matching their income flows with investment frequency.
"Both in terms of what you save on the wage bill as well as the money you make, it would've been desirable. But this is something the coaching staff have to consent to and that's not my place.
Most encouraging thing is savings and investment rates are high.
If you have questions related to online insurance frauds, then Piyush Ranjan, chief technology officer, Coverfox Insurance, will answer your queries.
'I would recommend two parts to fiscal support. One, support the lower end of the society by direct intervention through ways such as direct benefit cash transfer. Second, give fiscal support to the stressed sectors in line with the Rs 3-lakh crore (Rs 3 trillion) emergency credit line guarantee norms'
Against a turbulent and uncertain background, Budget 2017-18 hewed a steady, forward-looking course, says Shankar Acharya, former chief economic adviser to the government.
The two people arrested in Udaipur were alleged by the Congress to have links with the Saffron party.
Taxability of LPG subsidy and other direct benefits paid directly into bank accounts of beneficiaries is unclear.
If retrenched workers are unable to reskill within a fixed period of time, they will have to return the money given to them by the government. Moreover, they may be asked to pay back an interest on the sum transferred.
The federal agency wants to question and record Parab's statement under the Prevention of Money Laundering Act, they said.
It said the searches that were launched on July 22 in nine cities like Bhopal, Indore, Delhi, Ahmedabad, Noida and some others are "continuing and further investigations are in progress."
A bench headed by Chief Justice S A Bobde refused, however, to stay the controversial provisions of the laws and issued notices to both state governments on two different petitions.
Against National Democratic Alliance's 75 million target, United Progressive Alliance added 61 million in 2013-14.
With Narendra Modi about to make his first Independence Day speech, there is a buzz in Delhi that Modi will make some big announcements to signal major reforms and directional shifts. But we have to wait and see if it happens, says Mohan Guruswamy.
It said an estimated 42-66 million children could fall into extreme poverty as a result of the crisis this year, adding to the estimated 386 million children already in extreme poverty in 2019.
'Just see what kind of political, social and economic impact it will have when the number of unemployed goes up four times in one year suddenly.'
The ministry, under Ravi Shankar Prasad, will soon prepare a Cabinet note for bringing Aadhaar under its administrative jurisdiction.
'He is not looking at the interest of farmers. He only wants to do the politics of elections.' 'This Budget is for the new super India. It is exploiting the villages of Bharat.'
'Aggressively stepping up vaccinations will constitute the most enduring stimulus of all in the coming quarters,' observes Sajjid Z Chinoy, Chief India Economist at J P Morgan.
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