Prabhu hoped that during this 3-4 years period, railways would be able to absorb the impact from their resources
FinCom prescribes scrapping of effective revenue deficit.
For every rupee in the government coffer, 58 paise will come from direct and indirect taxes, 35 paise from borrowings and other liabilities, 5 paise from non-tax revenue like disinvestment and 2 paise from non-debt capital receipts, according to the Budget documents for 2022-23. According to the Union Budget 2022-23 presented in Parliament by Finance Minister Nirmala Sitharaman on Tuesday, goods and services tax will contribute 16 paise in every rupee revenue, while corporation tax will contribute 15 paise to each rupee earned. The government is also looking to earn 7 paise for every rupee from Union excise duty and 5 paise from customs duty. Income tax will yield 15 paise to every rupee collection.
Adani group opened a $1.2 billion copper plant, bought a port in Odisha, raised stakes in a cement company and stitched an alliance with rival Mukesh Ambani's Reliance Industries, all in a matter of one week in signs that the apples-to-airport conglomerate has shrugged off the Hindenburg effect and is back to rapid expansion spree. In the last one week, Adani group has through regulatory filings and press statements announced expansions and investments in its mainstay ports business, diversification into metal refining, fund infusion into a two-year-old cement foray and continuing progress in the commissioning of its mega solar project.
'Who has given how much money to which party, the people of India must know this fact.'
Amid a debate on the freebies, the Election Commission on Tuesday proposed amending the model code to ask political parties to provide authentic information to voters on the financial viability of their poll promises.
The states have outstanding liabilities of a whopping Rs 59,89,360 crore as on March 31, 2021, and the new sources of risk have emerged in the form of rising expenditure on non-merit freebies, the Supreme Court was told on Thursday by a PIL petitioner opposing irrational handouts.
According to the budget document, Rs 1,891.78 crore has been allocated for purchase of EVMs by the poll panel.
For the company's latest energy initiative to expand its green energy and storage portfolio, some analysts are beginning to suggest a closer look at some of its segments. In his address to shareholders in the company's FY22 annual report, billionaire Mukesh Ambani, chairman and managing director of the company, said: "The green energy value holds great promise to outshine all our existing growth engines in just 5-7 years." The company has marked an investment of Rs 75,000 crore towards its new energy plans, which include solar energy value chain, green hydrogen, energy storage and other similar businesses.
'If because of El Nino, the monsoon is affected adversely in the current year, naturally it will affect income projections and consequently Budget numbers.'
Holding simultaneous polls for the Lok Sabha and all assemblies would need any no-confidence motion to be coupled with a 'confidence motion' by a leader proposed as next prime minister or chief minister, while any mid-term election can be conducted only for remainder of the term, the Election Commission had said earlier.
In more trouble for senior Bharatiya Janata Party leader Gopinath Munde, facing an Election Commission's show cause notice for his poll spending remark, the Income Tax department has issued a notice seeking his explanation within a week.
Ramesh alleged that through the "electoral bonds scam", the Bharatiya Janata Party has collected Rs 8,200 crore and used the route of "pre-paid, post-paid, post-raid bribes and shell companies".
Extreme poverty in India declined by 38 million in 2021 to 167.49 million after a surge in the two preceding years, but remained above the 2018 level, the latest World Bank data shows. While for most countries poverty rose in 2020, when the Covid-19 pandemic hit the global economy, the data shows poverty shot up in India a year earlier in 2019 to 176.09 million from 151.79 million in 2018, the lowest pre-pandemic count. India's poverty rate at 11.9 per cent in 2021 also remained higher than the 2018 level of 11.09 per cent, though easing from 14.72 per cent in 2020.
'What are the compulsions of the Election Commission that it cannot see any violations by the prime minister'
If left unchecked, the 2024 elections may be infamously remembered as the election of deepfakes. The ECI has a tough task ahead, but, more importantly, it has an opportunity to become a global model for scores of countries going to polls this year, notes Ajay Kumar.
The BJP received Rs 2,555 crore (Rs 2555,00,01,000) from electoral bonds in 2019-20.
Seeking to woo Muslims as well as upper castes, the Samajwadi Party on Wednesday promised quota in police and other government jobs for minority community, release of "innocent" youths jailed on terror charges and constitution of an upper caste commission in its manifesto brimming with sops.
The EC had cautioned that the video van events should not cause inconvenience to the people and should not be a hindrance to smooth flow of traffic.
By any economic theory or doctrine, this is no Budget that supports economic recovery, whether through supporting aggregate demand, or through expansionary stimulus, declares Rathin Roy.
The poll-panel called these seizures by its various field and technical enforcement teams a "historic milestone" achieved "for the first time in any assembly electoral process", meaning during simultaneously-held assembly polls.
Budget for 2022-2023 has returned to its agenda for protectionism in the name of creating a self-reliant India, points out A K Bhattacharya.
The income tax department on Wednesday conducted raids in multiple states as part of a pan-India tax evasion probe against certain registered unrecognised political parties (RUPP) and their alleged dubious financial transactions, official sources said.
Sisodia was arrested Sunday over alleged irregularities in the formulation and implementation of the Delhi Excise Policy 2021-22.
The government is also looking to earn 8 paise for every rupee from Union excise duty and 3 paise from customs duty. While, income tax will yield 14 paise to every rupee collection.
These officers will oversee the entire poll processes as eyes and ears of the commission on the ground to ensure free, fair and voter-friendly elections.
Will the EC would make an example of the RK Nagar by-election, either by ensuring free and fair polls or by countermanding the same, asks N Sathiya Moorthy.
The ministry has also been allocated funds for Lok Sabha polls and photo identity cards for voters.
A total of Rs 39.67 crore has been allocated to the Lokpal for the next fiscal, according to Union Budget 2021-22 presented by Finance Minister Nirmala Sitharaman.
As many as 386 infrastructure projects, each entailing an investment of Rs 150 crore or more, have been hit by cost overruns of more than Rs 4.7 lakh crore, as per a report. According to the ministry of statistics and programme implementation, which monitors infrastructure projects of Rs 150 crore and above, out of 1,505 projects, 386 reported cost overruns and as many as 661 projects were delayed. "Total original cost of implementation of the 1505 projects was Rs 21,21,793.23 crore and their anticipated completion cost is likely to be Rs 25,92,537.79 crore, which reflects overall cost overruns of Rs 4,70,744.56 crore (22.19% of original cost)," the ministry's latest report for July 2022 said.
Grasim Industries has announced a rights issue of around Rs 4,000 crore with the promoters committed to fully subscribing to their entitlements and to covering any unsubscribed portion. This is to part-fund capital expenditure (capex) of Rs 10,000 crore in a new foray into the paints business. The company has already invested Rs 3,640 crore in the paints business (by Q1FY24). The management has outlined a capex of Rs 5,700 crore for FY24, which includes Rs 4,280 crore allocated for the paints business, of which Rs 1,050 crore has already been spent in Q1FY24.
'There was a 77 per cent chance that electorates in India voted for the same party for both the state and Centre when elections were held simultaneously.'
There are several welcome standalone reforms, but these do not add up to a coherent strategy to achieve a $5 trillion economy or secure Aatmanirbharta, observes Rathin Roy.
The Election Commission on Tuesday ordered the delisting of another 86 'non-existent' registered unrecognised political parties, raising the number of such organisations red flagged by the poll panel for failing to comply with electoral rules to 537.
Various indicators make it amply clear that there are grave challenges facing the new government of Chief Minister Nitish Kumar, reports Indivjal Dhasmana.
The government, it would seem, is reserving its firepower to spend on big-ticket items that will be announced in the Budget, reports Subhomoy Bhattacharjee.
Cabinet Secretary Rajiv Gauba will head a top panel, including a senior official from the Prime Minister's Office and seven secretaries, to monitor the implementation of the Centre's ambitious Mission Karmayogi programme for training of government employees, officials said on Monday.
The government on Tuesday informed Rajya Sabha that GST compensation of Rs 17,176 crore is pending to states as on June 2022. Replying to supplementaries during the Question Hour, Minister of State for Finance Pankaj Chaudhary said the Centre is giving GST compensation to states for five years. He said even during Covid times when no GST was collected, the Government of India had given compensation to states after taking loans of Rs 1.1 lakh crore and 1.59 lakh crore during 2020-21 and 2021-22.
In a far-reaching verdict, the Supreme Court on Thursday ruled that the appointment of the Chief Election Commissioner and the election commissioners will be done by the President on the recommendation of a committee, comprising the Prime Minister, Leader of the Opposition in the Lok Sabha and the CJI, to maintain the "purity" of the electoral process.
The Election Commission has done its homework pretty well on political hashtags, observes ad guru Sandeep Goyal.
