Pragmatism and flexibility is a virtue. An untethered and short-term approach to policymaking is a flaw, argues Mihir S Sharma.
'Looking at the speed at which changes were made post the Franklin Templeton issue, we are awaiting more stricter norms in the months to come.'
The government on Monday announced a one-time Rs 10,000 interest-free festival advance to all its officers and employees as part of plans to increase consumer spending to spur demand in the economy.
If the protected growth in GST revenue is reduced to 10 per cent, the Centre would save more than Rs 25,000 crore in 2020-21 if none of the states show any revenue growth. This would nearly amount to 0.1 per cent of the gross fiscal deficit and help the government in avoiding fiscal slippage to some extent in subsequent years.
This month, advertisements for managing directors and the senior management team for the National Bank for Financing Infrastructure and Development or NaBFID, should be out, signalling the start of a financial institution (FI) like no other the country has ever had. For this and other reasons government managers associated with the NaBFID project are convinced it should remain a 100 per cent government-owned entity. This is somewhat different from what former economic affairs secretary Tarun Bajaj said when the NaBFID Bill was being tabled in Parliament earlier this year: "To begin with, it will be 100 per cent government owned.
The PDP led by former chief minister Mehbooba Mufti has decided to stay away from the delimitation process, saying the body lacks 'constitutional and legal mandate' and is part of the overall process of political disempowerment of people of Jammu and Kashmir.
Rajasthan Chief Minister Ashok Gehlot and some of his cabinet colleagues, including Shanti Dhariwal, figure in the list of 63 Congress candidates for the forthcoming assembly polls, announced by the All India Congress Committee.
At a pre-Budget meeting, the FM was asked to ensure that NBFCs come out of the liquidity crisis they are facing with the help of RBI. They also spoke about the futility of trying to achieve a 3 per cent fiscal deficit target over the medium term.
Minister of state for personnel Jitendra Singh said it is a major step to place the right talent for the right role.
Merely bringing down the government stake below 51% may not find any taker for the PSBs. The government must bring down its holding to at least 26%, recommends Tamal Bandyopadhyay.
The report stated the 2013 land Act was a step forward.
Maharashtra Chief Minister Uddhav Thackeray met Prime Minister Narendra Modi on Tuesday and discussed issues related to the Maratha reservation, pending GST compensation and the proposed Metro car shed in Kanjur.
Several loyal party old guards were unhappy and had expressed their displeasure openly about "migrants" scuttling the chances of them becoming ministers.
"The very fact that Pandit Jawaharlal Nehru believed that democracy has made revolution superfluous after independence and how it meant the complete opposite of a bloodless change," it said.
The Delhi government is likely to extend the ongoing Winter Session to allow passage of the Jan Lokpal Bill which was cleared by the cabinet earlier this week.
Despite their promised and announced reduction in power prices, the Arvind Kejriwal-led Delhi government may want keep the issue on the burner for sometime longer, since none of the concerned players are ready to give an inch, and seem raring for a fight, says Upasna Pandey
'Very soon you will hear the news of two more MLAs from Uddhavji's side joining our camp.' 'And once the Supreme Court verdict comes out, there will be a waterfall.'
Bihar expects transfers from the Centre to grow 28 per cent in 2016-17.
India opened up its economy to the private sector in 1991.
Data on the new series given by a panel on real sector statistics shows that GDP grew by 10.23 per cent in 2007-08 and 10.78 per cent in 2010-11. There are some years for which the new figures show a deceleration in growth as well. The new series has 2011-12 as the base year while the earlier series had 2004-05 and 1993-94.
Shah also attacked the Congress and said "the party was finished in the country due to corruption and family rule."
Kremlin spokesman Dmitry Peskov briefly admitted that Russia had suffered a 'significant' loss of its troops in Ukraine, calling the casualties 'a huge tragedy' for the country in an interview with Sky News.
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.
Jaishankar, who presided over the UNSC Briefing: Global Counterterrorism Approach: Challenges and Way Forward, described terrorism as an existential threat to international peace and security and said it knows no borders, nationality, or race.
The DMK leadership may now have to deal with a demand for more seats from its Congress ally in the Lok Sabha polls, predicts N Sathiya Moorthy.
Sitharaman also said the government is also working on a national language translation initiative.
Addressing a massive public rally to celebrate the signing of the accord on January 27 that is expected to bring lasting peace to the troubled state, Modi said now the time was to work together for peace and development of the North-East.
Pakistan will remain on the 'grey list' of the Financial Action Task Force (FATF) until it further demonstrates that action is being taken against Jamaat-ud-Dawah chief Hafiz Saeed and Jaish-e-Mohammed founder Masood Azhar who are listed as global terrorists by the United Nations, the global anti-money laundering and terror financing watchdog said on Thursday.
Prime Minister Narendra Modi on Friday reviewed the post-cyclone situation and damages caused by Cyclone Yaas in the state at a meeting in Bhubaneswar where Odisha government demanded long term solutions to mitigate problems of repeated cyclones and provision of disaster resilient power systems.
'Let us hope that this Budget delivers.' 'It needs 10 per cent plus real GDP growth in 2021-22, the rebound year,' notes Omkar Goswami.
Deficits could come under more pressure in coming years as states implement their own Pay Commissions.
The BJP's relations with some alliance partners, including its oldest ally the Shiv Sena, Nitish Kumar's Janata Dal-United, Akali Dal and Rashtriya Lok Samta Party of Union minister Upendra Kushwaha, have been somewhat tense, and Shah's comments are being seen as an attempt to smooth their ruffled feathers.
Bimal Jalan, has recommended to the government that it cut fiscal deficit to 3.6 per cent of the GDP during 2015-16.
Maharashtra deputy Chief Minister Devendra Fadnavis, who also holds the energy portfolio, held a meeting with trade union representatives and later said the government had no intention to privatise state-run power utilities.
Debt-ridden mortgage firm DHFL's shares would be delisted from stock exchanges post acquisition by Piramal Capital and Housing Finance, which has emerged as the successful bidder for the company. As part of resolution process under the Insolvency and Bankruptcy Code (IBC), lenders led by Union Bank of India in January this year favoured the bid by Piramal Capital and Housing Finance to take over the beleaguered housing finance firm. According to sources, shares of DHFL would be delisted post acquisition as per the IBC guidelines and Sebi delisting norms.
According to poll observers, there are about 3.88 lakh voters in Rampur assembly constituency and of them, about 2.27 lakh, about 60 per cent, are Muslims.
Finance Minister Nirmala Sitharaman on Tuesday proposed enhancing the funding under the PLI scheme for domestic solar cells and module manufacturing to Rs 24,000 crore from the existing Rs 4,500 crore to make India an exporting nation. "For facilitating domestic manufacturing for the ambitious goal of 280GW of installed solar capacity by 2030, an additional allocation of Rs 19,500 crore for PLI scheme for manufacturing of high efficiency (solar) modules with priority of fully integrate manufacturing units for polysilicon to solar PV modules will be made," Sitharaman said in her Budget speech in the Lok Sabha. In April 2021, the Union Cabinet approved a Rs 4,500 crore production linked incentive (PLI) scheme to boost domestic manufacturing capacity of solar PV modules.
In fact, no other recent Union Budget has held so much significance for the Indian economy as the one to be presented in about six weeks from now, notes A K Bhattacharya.
Revenue buoyancy of GST will be key to improve the resource position of both central and state governments.
Testimony presented before the Bhima Korgaon Commission over the last two months reveals the background to the violence that broke out on January 1, 2018.
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