In the all-party meeting on Tuesday, Opposition parties demanded discussions on price rise, unemployment and Economically Weaker Section (EWS) quota among other issues, sources said.
Finance Commission has got new team who are committed to growth initiatives.
The Sri Lankan government has appointed an advisory committee comprising eminent economic and fiscal experts to provide guidance on addressing the current debt crisis and engaging with the International Monetary Fund (IMF) and other lenders as the country struggles to combat the unprecedented shortage of foreign reserves.
Government's cheap food distribution covers 68 per cent of the population.
The accounting system of the central and state governments may change considerably, with a high-level committee suggesting sweeping changes in how expenditure is classified in Budget documents.
According to the sources, the meeting will be held at 10 am on Thursday in the chamber of Rajya Sabha LoP.
The committee will suggest an action plan for abolishing the present system of classifying expenditure into plan and non-plan, an official statement said.
The IIP growth has been revised downwards to 1.14 per cent for January, from the provisional estimates of 6.8 per cent, according to the official data released on Wednesday.
The government is contemplating changes to the Insolvency and Bankruptcy Code (IBC) to deal with environmental claims and liabilities of defaulting companies to make the law future-ready and meet climate action goals, sources told Business Standard. Currently, the IBC has various categories of claims and creditors, including those related to environmental liabilities.
Finance, oil ministry tussle over exports.
The Migration Advisory Committee said 270,000 less posts should be on the 'shortage list' of jobs, which allows employers to bring in foreign workers without trying to fill them with British staff first. In the latest review published on Thursday, construction workers and quantity surveyors were suspended from the list because unemployment among workers in those professions has risen by 500 per cent as a result of the downturn.
The National Security Strategy document should flag all major issues concerning security strategy and provide guidelines to concerned departments to work out suitable action plans. Since the global and regional geopolitical canvas is dynamic, the NSS document should be deliberated at length before formulation and should be reviewed periodically, recommends Commodore Venugopal Menon (retd).
Announcing the decision after the meeting of the Cabinet Committee on Economic Affairs, Finance Minister P Chiadambaram said this is an ad-hoc measure and the recommendation of Commission for Agricultural Costs and Prices has been referred to the Prime Minister's Economic Advisory Council. The CACP had recommended the paddy MSP at Rs 1,000 per quintal for 2008-09 Kharif season.
Food Min says decision on Rangarajan panel's report in a time bound manner.
A first step in that direction has been taken by the prime minister by setting up an expert panel headed by his economic advisory council.
Rumours in the bureaucracy on his successor include the names of Sajjid Chinoy of JP Morgan, Rathin Roy of the National Institute of Public Finance and Policy, Neelkanth Mishra of Credit Suisse and the principal economic advisor, Sanjeev Sanyal.
Five influential American lawmakers have introduced a resolution in the House of Representatives calling on the US Postal Service to issue a postal stamp to commemorate the festival of Diwali.
The technical report of the NSSO has generated controversy following its observation that as much as 36 per cent units forming part of MCA-21 database, used in computing GDP, could not be either identifiable or traceable in the field.
At the World Bank Banga will be replacing David Malpass, a former Trump treasury official, reports axios.com. Malpass had already announced that he will resign by July, months ahead of his term expired. "Ajay is uniquely equipped to lead the World Bank at this critical moment in history," President Biden said in a statement. Banga, 63, currently serves as vice chairman at General Atlantic.
The Lower House of Parliament took up the Demands for Grants and Appropriation Bills after two adjournments as the ruling and Opposition MPs engaged in a matching duet over demands for an apology by Rahul Gandhi and the Adani issue.
The committee on financial inclusion, headed by C Rangarajan, the chairman of Prime Minister's Economic Advisory Council, has recommended that the profits transferred to their reserves by such banks should be exempted from tax till the banks achieve the standard capital adequacy ratio (CAR).
On the lines of the Sachar Committee for Muslims, Prime Minister Manmohan Singh has set up a panel to assess the status of Scheduled Tribes, to ensure their progress in socio-economic, health and education fields.
Committee of secretaries is working on the formula and it is understood that EAC is also being asked to go through the formula.
Chetan Ghate, Pami Dua and Ravindra Dholakia have been appointed for 4 years
The govt. has set up a panel to review the investments and savings in the Indian economy. The panel will review financial savings and suggest improvements.
Petroleum ministry rejects conclusions of two reports ahead of EGoM.
Bhalla will succeed former RBI deputy governor Subir Gokarn, who died in the US on July 30 after a brief illness.
A group of ministers, constituted to look into pricing and utilization of natural gas produced from new fields like the KG-D6 of Reliance Industries, is likely to hold its first meeting on August 27.
The Planning Commission in May 2012 had constituted the expert group under the then Prime Minister's Economic Advisory Council Chairman C Rangarajan to review the Tendulkar Committee methodology for estimating poverty, following an uproar over the number of poor in the country.
The panel may include or seek inputs from former RBI Governor Urjit Patel, former chief economic advisor Arvind Subramanian, Sajjid Chinoy of the PM-EAC, Rathin Roy, among others.
The divestment of HPCL and BPCL may be delayed by at least three years because of "existing hurdles", prime minister's economic advisory council committee member and BJP national executive member Jagdish Shetigar said on Thursday.
Ajay Banga was on Wednesday appointed the next president of the World Bank, becoming the first-ever Indian-American to head the global financial institution which said it looks forward to working with him at a time when it's tackling the toughest development challenges facing developing countries. "The executive directors of the World Bank today selected Ajay Banga as president of the World Bank for a five-year term beginning June 2, 2023," the bank said in a press statement. In February, President Joe Biden announced that the US would be nominating Banga, 63, to lead the World Bank because he is "well equipped" to lead the global institution at "this critical moment in history."
'The actions of Indian monetary authorities will depend on how quickly they want the inflation to come down to 4 per cent.'
A presidential advisory sub-committee has recommended the federal government to extend the grace period for H1-B workers, who have lost their jobs, from the existing 60 days to 180 days so that the workers have enough opportunities to find a new job or other alternatives. "The immigration subcommittee recommends the Department of Homeland Security and the US Citizenship and Immigration Services (USCIS) to extend the grace period for H1-B workers, who have lost their jobs, from 60 days to 180 days," Ajay Jain Bhutoria, member of the President's Advisory Commission on Asian Americans, Native Hawaiians, and Pacific Islanders, said on Tuesday. In his presentation, Bhutoria highlighted the significant challenges faced by H1-B workers laid off from their jobs.
The Congress will reach out to civil society members and like-minded political groups for the 'Bharat Jodo' yatra from October 2 for rallying support to combat polarisation and protect Constitution, democracy and various institutions, senior party leaders said on Thursday.
Last month, the government approved the proposal of doubling gas price from RIL's KG basin from $4.2 mmbtu to $8.4 mmbtu from April 1, 2014.
The Union Budget for 2017 is likely to be presented on February 1. An approval for merging the Railway Budget with the General Budget was accorded by Finance Minister Arun Jaitley on Monday.
The results of the assembly elections in Gujarat and Himachal Pradesh are also likely to play out during the start of the session.
'If because of El Nino, the monsoon is affected adversely in the current year, naturally it will affect income projections and consequently Budget numbers.'
