The Centre's revenue deficit is expected to go up by 0.75 per cent of the GDP this fiscal following the implementation of the 12th Finance Commission recommendations, RBI said.
Food prices have been relentlessly rising and was over 19 per cent year-on-year in the last week of November.
The Supreme Court on Friday asked the Army to put its "house in order", saying that it feels that it has not been "fair" to the women officers who have alleged delay in promotions after being granted permanent commission on the directions of the top court in 2020.
Speaking after interacting with gram panchayats and pani samitis/village water and sanitation committees (VWSC) on the Jal Jeevan Mission, Modi said the mission is not just about bringing water to people but it is also a decentralisation movement that is village and women-driven.
The Centre on Monday defended in the Supreme Court the third extension of service granted to Enforcement Directorate chief Sanjay Kumar Mishra, asserting it was due to a peer review being conducted by the Financial Action Task Force (FATF) this year and said he will retire this November.
Brand India's societal divisions and distortions have remained as much relevant in 'liberal' America and Europe as it still is in the structurally stratified Indian society of the 21st century, observes N Sathiya Moorthy.
The Centre will take a hit of Rs 26,000 crore (Rs 260 billion) in 2005-06 by implementing the twelfth finance commission's proposal of a higher share of central taxes, grant and debt relief to states.
The 1984-batch IRS officer was otherwise to remain in office till November 18, 2023, according to the notification issued by the government.
C Rangarajan, chairman, 12th Finance Commission, will head the committee, J&K Finance Minister Muzaffar Hussain Baig said in Srinagar.
Assembly Speaker M Appavu said leaders of the two AIADMK factions submitted him 6 letters, including 4 from Palaniswami, asking for separate seating arrangement in the Assembly for their respective members.
What some of our leaders were up to on Monday and Tuesday.
His business successes which started with the international distribution rights for the Bollywood blockbuster movie 'Sangam' in 1964 made him one of the richest in Britain but it was the Bofors scam that made Srichand Parmanand Hinduja famous, or rather infamous, back home. SP Hinduja, as he was known, died in London on Wednesday after a prolonged illness. He was 87, a family spokesperson said. Born in a business family in Karachi, British India, he and his two younger brothers were accused of receiving payments totalling Rs 64 crore in illegal commissions to help Swedish gunmaker AB Bofors secure an Indian government contract.
The BJP MLAs -- Vijender Gupta, O P Sharma and Jagdish Pradhan -- were evicted from the House after they trooped to the Well and raised slogans.
"A solution has been put on the table. It is for Andhra Pradesh to decide whether they want the resources or they want to make an issue (out of it)," he said.
Nowadays, our politics is habituated to sitting on a high pedestal, hobnobbing with world leaders, generating impressions of a superpower and returning to earth for the purpose of winning elections. In contrast, the yatra never left earth, observes Shyam G Menon.
'A political party taking the law into its hands is objectionable, especially in the context of the 2002 incidents in Gujarat.'
Days after cutting the salaries and other allowances of MPs and ministers, the government has passed instructions to all departments to reduce their expenditure by as much as 60 per cent from their first-quarter spending plans.
Delhi CM Arvind Kejriwal said the govt will extend a loan of Rs 551 crore to two civic bodies; and alleged a situation was being created through the ongoing strike to prepare grounds for imposition of central rule.
In 1937, a hydrogen-powered German airship flying into New Jersey caught fire and crashed, killing 35 passengers on board. It was sort of a man-made disaster as some 100 people were loaded on to a balloon filled with the most flammable material in the universe. The airship was named Hindenburg. Eight decades later, in 2017, a graduate of international business management from the University of Connecticut founded a "forensic financial research" firm to specialise in spotting wrongdoings and frauds, or what it calls man-made disasters, at companies around the globe and take market bets against them.
RBI is likely to continue with its tough stance on monetary policy to maintain price and financial stability.
India's historical focus on its continental borders has overshadowed its maritime ambitions, but that is changing quickly, notes Ajai Shukla.
Consumers are paying an exorbitant 180 per cent tax on petrol, and 140 per cent on diesel in Delhi and in most other towns in India. Little wonder then that the central government expects a staggering Rs 3.46 trillion by levying excise duties on retail sale of the two fuels this year, and Rs 3.2 trillion the next. States would generally have had reason to cheer, as they command a 41 per cent share in Centre's tax revenues. But as the Centre has raised excise duties in the form of "cess," the revenue proceeds are by nature not shareable with states.
The report said Zuma 'would do anything that the Guptas wanted him to do for them,' including firing competent ministers and senior officials at parastatal institutions, so that Gupta lackeys could be appointed to those positions.
Finance Minister Arun Jaitley to discuss key issues with state finance ministers.
Every option before the finance minister comes with a price tag, observes T N Ninan.
The trio could play a significant role in the global economy, which is facing a slowdown, Finance Commission chairman Vijay Kelkar said at a conference on Russia, India and China in New Delhi. The conference was held to throw light on common policy issues characterising each of the society, said Suman Berry, National Council of Applied Economic Research director general.
Reliance Industries Ltd on Friday reported a 15 per cent drop in its net profit to Rs 15,792 crore for the third quarter, according to a company's stock exchange filing. The net profit of Rs 15,792 crore in October-December 2022 compares to Rs 18,549 crore a year back.
'There is a fiscal crisis building up, which might become apparent when the Finance Commission presents its report,' warns T N Ninan.
Union Finance Minister Nirmala Sitharaman, Congress' chief spokesperson Randeep Surjewala and senior leader Jairam Ramesh were among the 10 candidates elected to the Rajya Sabha on Friday from Karnataka, Rajasthan and Haryana, while counting was underway in Maharashtra after an eight-hour delay due to wrangling by rival parties over alleged breach of voting rules.
The Budget would preserve macro-economic stability.
'Both the Centre and the states cannot say that they have been taking good care of public health.'
The Goods and Services Tax, proposed to be introduced from April 2010, would benefit the economy by at least $15 billion
The remarks by Naidu in his last address as the country's Vice President came even as Telangana's ruling Telangana Rashtra Samithi RS said the welfare of poorer sections of society is not a freebie and that welfare measures taken by governments should continue.
The commerce ministry will approach the 13th Finance Commission next month suggesting measures to reduce the incidence of local taxes on exports. With the state levies accounting for 6 per cent of the cost of exporters' consignments, the ministry wants to ensure that these taxes are rebated on the lines of refund of Central levies through different schemes.
Increase of 10% to 12% likely in a bid to improve citizens' mood after demonetisation.
An international seminar on accounting practices opened on Monday with Finance Commission chairman C Rangarajan asking the government to ensure better expenditure control for containing fiscal deficit.\n\n\n\n
The finance minister defended the change in the tax rates.
Terming India's fiscal decentralisation as 'flawed', the World Bank has mooted six broad strategies, including strengthening the state finance commissions, broadening tax base and greater devolution of power to Panchayati Raj institutions.
The losses in state elections in Rajasthan, Madhya Pradesh, and Chhattisgarh have put the ruling party under pressure to announce swift measures aimed at addressing rural distress and lack of employment.
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