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.
There will be a dramatic alteration in the role the Centre and the states will play to shape India's fiscal and economic destiny, report Nitin Sethi and Ishan Bakshi.
With the Election Commission (EC) facing flak from some quarters for announcing eight-phase Assembly polls in West Bengal, officials on Friday said the polling had to be spread out due to festivals, the movement of security forces and an increased number of polling stations keeping in mind the Covid protocols.
This is roughly 70% of the national transporter's budgeted wage bill of Rs 40,435 crore for the current financial year.
'I am only asking about his travel bills and expenditure.'
A CBI team on Friday visited office of oil regulator V K Sibal to check records following charges of his receiving favours from Mukesh Ambani-led RIL to approve an inflated expenditure for gas field, a charge denied by him.
Bihar expects transfers from the Centre to grow 28 per cent in 2016-17.
All interest free advances stand discontinued with the exception of interest free advance for medical treatment, travelling allowance for family of deceased, travelling allowance on tour or transfer and leave travel concession
Government auditor CAG has flagged "undue favour" to Wipro Ltd by UIDAI.
There has been criticism of the official statistics ever since MoSPI came out with new methodology to estimate the GDP on the base year of 2011-12 compared to earlier 2004-05.
Gujarat and Jharkhand are most favourably placed in terms of smaller share of public sector employees and lower liability on pension, wages and salaries.
The 13th Finance Commission had last year set a capital expenditure-to-GDP target of 4.5 per cent by FY15.
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
People like Manmohan Singh and P Chidambaram, who as finance minister had fully supported the NPS, refuse to exercise their moral and political influence to try and stop Ashok Gehlot and others hell-bent on wrecking the states' finances, notes Virendra Kapoor.
'By manipulating India's electoral laws, the aim of the Modi government is to weaken democracy to such an extent that it ultimately crumbles.'
Anyone within range of China's expanding navy will have to build capabilities faster and/or work more closely with the US, as Australia has just announced, asserts T N Ninan.
The banks argue since the scale of credits is unforeseen, they will have to bear an unknown cost of servicing these accounts.
The Election Commission has asked the Reserve Bank of India to inquire into the conduct of Allahabad Bank and United Bank of India which made drafts of Rs 1.33 crore for Trinamool Congress in poll-bound West Bengal, allegedly violating its guidelines on election expenditure.
It said it won't respond to the averment to prove its image.
US e-commerce giant Amazon has written to the independent directors of Future Retail Limited (FRL), including Gagan Singh, Ravindra Dhariwal and Jacob Mathew, and its audit committee, providing data and alleging that there have been significant financial irregularities to the prejudice of public shareholders, banks, creditors, and third-party suppliers. Amazon has said this warrants a thorough and independent examination of all relevant facts and related-party transactions, including of past financial years, by an independent agency. Separately, Amazon has written to Securities and Exchange Board of India Chairman Ajay Tyagi, seeking the withdrawal of the regulator's conditional approval granted to FRL related to the merger deal between the Future group and Reliance.
'Event management can distract from, but not permanently mask, execution failures,' points out Rathin Roy, director, National Institute of Public Finance and Policy.
Higher rural incomes, pay commission benefits, and lower interest rates are key positives: Analysts
The Cabinet on Friday gave mandate to the 7th Pay Commission for revising salaries of over 50 lakh central government employees and remuneration of 30 lakh pensioners.
India's GDP growth quickened to 7.4 per cent in the September.
Over Rs 195 crore of cash has been seized so far by Election Commission appointed teams, with Andhra Pradesh topping the list.
There are some 20-odd schemes with this default provision, or something close to it.
Amit Shah said simultaneous polls would curb expenditure.
The demand for extension of the GST cess regime among others was made by several state finance ministers at a pre-budget consultation called by Union Finance Minister Nirmala Sitharaman in New Delhi. Besides, many states also demanded raising the share of the Union government in the Centrally Sponsored Schemes (CSS). Currently, the central government and state government share in some CSS is 60:40 while in others it is 75:25.
This follows concern expressed by environment and forest minister Jairam Ramesh over poor public allocations for research on the impact of climate change in the Lok Sabha on Thursday.
The views were asked for by the law ministry as part of a Cabinet note on the subject.
In April 2004, the ministry had permitted banks to purchase new vehicles for replacement or otherwise on "need basis".
'Slowing down of the economy was mainly due to the demonetisation shock...' 'If you cut off the oxygen supply to a patient in the ICU and the patient dies, the patient does not come alive again when you restore the oxygen supply.'
All elections in India should happen in a free, fair and synchronised manner to ensure minimum "campaign mode" disruption to governance, the government think tank said in its report released recently.
'Football Leaks' documents, showing the two clubs had inflated sponsorship revenues to meet the requirements, were obtained by the German publication Der Spiegel.
Officers responsible for preparing budgets say their detailed costing projections are mostly ignored. The defence ministry simply takes the previous year's budgetary allocations for each service and adds a small percentage to those.
The absence of a clear underlying economic ideology in the Budget was quite evident, say experts.
Congress President Sonia Gandhi has not sought any reimbursement for medical bills from the government, the Central Information Commission has said.
Unfazed by the olanning commission disapproving his demand to grant special category status to Bihar, Chief Minister Nitish Kumar today made a strong pitch for it, alleging that the Centre's Inter-Ministerial Group did not consider the issue with seriousness.
A memorandum, signed by the chief ministers or finance ministers of Andhra Pradesh, Puducherry, Karnataka, Delhi, West Bengal, Kerala and Punjab, said the terms were disruptive and a cause for concern.
Consumer goods manufacturers, expecting to see a revival of demand from the nearly Rs 16,500 crore Pay Commission arrears for government employees, are likely to be disappointed.
