From withdrawing the stimulus to implementing the Finance Commission proposals, the FM has his task cut out.
The Union government could target a fiscal deficit of 5.8-6 per cent of nominal GDP for 2023-24, and it should continue its capital expenditure push and look to simplify the personal income tax regime, economists recommended Finance Minister Nirmala Sitharaman and her team during their pre-Budget interaction on Monday. Starting last week, Sitharaman had eight pre-Budget consultations this time. More than 110 invitees representing seven stakeholder groups participated in these meetings, the finance ministry said in a statement. The stakeholder groups included representatives and experts from agriculture and agro-processing industry; industry, infrastructure & climate change; financial sector and capital markets; services and trade; social sector; trade unions and labour organisations; and economists.
It's been a hectic weekend for Bollywood. While some stars attend award shows, many others go about their daily lives, like visiting the salon or going shopping.
The Information and Broadcasting Ministry has come out with a comprehensive document 'Compendium of important action points' detailing its action plan for 2012-17 period.
Finance Minister Nirmala Sitharaman will present the much-awaited 2022-23 Union Budget on February 1. While there has been strong recovery in some sectors, touch services like hospitality, tourism and leisure continue to suffer after two Covid-19 waves. Household savings have been hit due to increased spending on health care. Consumption has still not reached pre-pandemic levels.
Bengal corporate leaders on Thursday termed the 2013-14 Union budget a reformist one and said despite being the last budget of United Progressive Alliance before it goes to poll, Finance Minister P Chidambaram restrained from being populist.
The Telecom Regulatory Authority of India expects at least 1,000 radio stations in the next 2-3 years following its recommendation of a low entry fee and migration to a revenue sharing regime for the second phase.
The FM flew to Chennai on Sunday to inaugurate Nandavanam, the central revenue quarters of the Central Board of Direct Taxes and Central Board of Indirect Taxes and Customs at Anna Nagar in Chennai.
He further added that India needs $1 trillion investment in infrastructure during the 12th Five-Year Plan.
Finance Minister Nirmala Sitharaman on Saturday said the new tax regime will benefit the middle class as it will leave more money in their hands. Talking to reporters after the customary post-Budget address to the central board of the RBI, she said it is not necessary to induce individuals to invest through government schemes but give them an opportunity to make a personal decision regarding investments. "...the way we allowed for standard deduction and also the rates which have been fixed, tax rates which have been fixed for different slabs, it has actually left more money in the hands of the people, the taxpayer, the household," she said.
Jaishankar also met his Iranian counterpart H Amirabdollahian and held productive discussions on bilateral economic cooperation, Afghanistan and the joint comprehensive plan of action, also known as the Iran nuclear deal.
Panel to submit recommendations to the Cabinet for approval.
Jaitleysaid Mallya misused his position as an MP to accost him once in Parliament.
Banks have written off bad loans worth Rs 10,09,511 crore during the last five financial years, finance minister Nirmala Sitharaman informed Parliament on Tuesday. The non-performing assets (NPAs), including those in respect of which full provisioning has been made on completion of four years, are removed from the balance sheet of the bank concerned by way of write-off, she said in a reply to Rajya Sabha. "Banks write off NPAs as part of their regular exercise to clean up their balance sheet, avail tax benefit and optimise capital, in accordance with RBI guidelines and policy approved by their boards.
Within a week of Shiv Sena Chief Bal Thackeray asking private FM radio channels to air Marathi songs, 94.3 Radio One has decided to have a dedicated weekly show for Marathi music.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Finance Minister Nirmala Sitharaman on Friday asked private sector companies to clear dues to small businesses within 45 days and admitted that the central departments and enterprises are also not making payments to them on time. She conceded that the Centre, states and state-owned enterprises too have outstanding dues to micro, small and medium enterprises (MSMEs). The minister said that at a meeting with big businesses here two days ago, she had appealed to them to ensure that the dues of small businesses, who are the backbone of the economy, are cleared on time.
For the cooperation ministry, the government made a total budget outlay of Rs 1,150.38 crore for 2023-24, lower than the revised estimate of Rs 1,624.74 crore for 2022-23.
Russian Foreign Ministry spokeswoman Maria Zakharova said Lavrov will meet Prime Minister Narendra Modi and Foreign Minister S Jaishankar on Friday.
And it's a wrap for Vicky Kaushal's next film, Sam Bahadur!
Godrej Appliances has launched a music-enabled refrigerator, Godrej Edge SX MuziPlay, with FM radio and MP3 player. The refrigerator has additional facilities such as a mobile charging point with USB port.
Currently, domestic supplies and commercial imports of vaccines attract a 5 per cent Goods and Services Tax, while COVID drugs and oxygen concentrators attract a 12 per cent levy.
The Centre will promote Kisan Drones, chemical-free natural farming, public-private partnerships for the delivery of digital and high-tech services to farmers across the country during the financial year 2022-23, Finance Minister Nirmala Sitharaman said on Tuesday. Presenting the Budget 2022-23 in Parliament, Sitharaman said the inclusive development is one of the four priorities of the government moving forward. As part of the inclusive development, the government will promote the use of 'Kisan Drones' for crop assessment, digitisation of land records and spraying of insecticides. The government will also facilitate a fund with blended capital raised under the co-investment model through Nabard to finance agri start-ups and rural enterprises, she said.
The NSE Nifty closed at 4,575, up 75 points. The market breadth was fairly positive - out of 2,771 stocks, 1,711 advanced, while 958 declined.
Ambika Soni, the new I&B minister, called for a full-presentation on Tuesday on both these issues from senior I&B officials, a day after she took charge of the ministry.
The Ministry had disallowed the group from taking part in auction.
A day before the event, I learnt from an old Mumbai crime branch informant that a group of gangsters were planning to serve breakfast to the prisoners at Balgandharva Rangmandir prior to the show.
It is thanks to the policy of liberalisation conceived by Manmohan Singh and enforced by P V Narasimha that the Indian economy has now become the world's 5th largest economy by nominal GDP, asserts Dr Sudhir Bisht.
Civil avation minister Praful Patel said on Tuesday he would once again take up with the finance minister P Chidambaram the issue of rationalisation of taxes on Aviation Turbine Fuel.
India was looking at tapping new markets for import of edible oils, following the conflict between Ukraine and Russia, Union Finance Minister Nirmala Sitharaman said on Tuesday. According to her, the country was facing various hurdles on import of edible oils due to the conflict. "Everyone knows there is a war going on between Russia and Ukraine. There are various hurdles in terms of importing oils.
Stalin, in an interview to a daily, has refuted the FM's allegations, saying "everyone present in the Assembly knew it was a drama enacted by herself," referring to the late Jayalalithaa.
Budget forces last minute change in finance minister's plans.
