Finance Minister Nirmala Sitharaman on Monday said she is awaiting an approval from the Cabinet on bill on cryptocurrency as the proposed legislation is before it. The inter-ministerial panel on cryptocurrency under the chairmanship of secretary (economic affairs) to study the issues related to virtual currencies and propose specific actions has already submitted its report. It has recommended that all private cryptocurrencies, except any virtual currencies issued by state, will be prohibited in India.
Despite finance minister's assurance, tax officials seem reluctant to take steps for tackling issues at stake
Finance Minister Nirmala Sitharaman captivated her audience at the Women Directors Conclave.
Most of the members, including Prime Minister Narendra Modi, were seen wearing face masks. However, members had crowded the Lok Sabha chamber, while hardly a handful of others, including union ministers Dharmendra Pradhan and Piyush Goyal, were seen seated in the Rajya Sabha chamber.
It is learnt that Lavrov is expected to travel to India either on Thursday or Friday after concluding a two-day visit to China.
Finance minister Nirmala Sitharaman on Monday said windfall tax on petroleum products, crude is not ad hoc, but being charged in regular consultation with the industry. Addressing an event organized online, the minister said it is unfair to call windfall tax as ad hoc, because the tax rate and its resetting are done in complete consultations with the industry. "The very idea was implemented after taking the industry into full confidence," she said at a function organised by Elara Capital.
The Economic Survey will remain a documentation of the government's resolve to not recognise the severe stress on the labour markets and on the livelihoods of Indian households arising out of the pandemic and the consequent lockdown, observes Mahesh Vyas.
With the world's worst pandemic outbreak scarring nascent economic recovery, the government may at the beginning of the unlock phase announce another stimulus package for the most hit sectors such as small business and self-employed, Bernstein said. The brokerage in a note said its macro index suggests a deterioration in economic activity during April/May. "Energy consumption has moderated, with power down over 4 per cent and oil consumption down over 16 per cent in May so far (all 2-year CAGR). "E-waybills are down 16 per cent, suggesting the impact of scale down in factory production for some product categories, owing to the shut down in retail outlets.
At present, a large number of power distribution utilities (discoms) across the country are state-owned. They are unable to ensure 24-hour 'power for all' as envisaged by the central government because they are cash strapped.
External affairs minister S Jaishankar on Tuesday discussed issues relating to Afghanistan and the Indo-Pacific during his bilateral meetings with global counterparts on the sidelines of the annual high-level UN General Assembly session.
Expressing the government's commitment to continue with reforms, Finance Minister Nirmala Sitharaman on Thursday assured India Inc that it is ready to do everything required to revive and support economic growth hit by the COVID-19 pandemic. Stressing that there is a need to promote growth as it helps bring down poverty, she however said it would not be at the cost of inflation. RBI has been mandated to keep inflation at 4 per cent, with tolerance level of 2 per cent on either side.
Prime Minister Narendra Modi on Monday chaired a high-level meeting to review preparedness for the hot weather condition in the upcoming summer season and called for preparing separate awareness material for different stakeholders like common citizens, medical professionals, local body authorities and disaster response teams.
Terming the remarks of a Red FM radio jockey against the Gorkha community as derogatory, the govt has banned the radio channel for 7 days.The remarks about the winner of Indian Idol Prashant Tamang had triggered violent clashes in Siliguri last week.
'This obsession with 'one' is not good for a country like India.'
During the day-long visit, the Pakistani delegation will hold talks with Afghanistan's acting Foreign Minister Amir Khan Muttaqi and call on leadership of the interim government in Kabul and other Afghan leaders, according to Foreign Office.
External Affairs Minister S Jaishankar met United States Secretary of State Antony Blinken in Phnom Penh on Sunday and discussed bilateral ties, the raging Ukraine conflict, energy issues, G20 and the situation in the Indo-Pacific, days ahead of a possible meeting between Prime Minister Narendra Modi and President Joe Biden.
The Union Budget on Wednesday outlined several initiatives to drive India's technology agenda and boost digital infrastructure, including new centres of excellence for artificial intelligence, National Data Governance Policy, and Entity DigiLocker.
GST collections touched a record of Rs 1.40 lakh crore in January on rapid economic recovery, Finance Minister Nirmala Sitharaman said on Tuesday. In her 2022-23 Budget speech, the minister said there has been a remarkable progress made in the Goods and Services Tax (GST) regime, but still a few challenges remain. "Gross GST collection in January at record Rs 1,40,986 crores; this has been possible due to rapid economic recovery," she said while presenting the Budget in the Lok Sabha. January is the seventh straight month when the GST collection has crossed the Rs 1 lakh crore mark.
She posed for the traditional 'briefcase' picture outside her office along with her team of officials before heading to meet the President. She, however, was holding a tablet instead of a briefcase to present the Budget in a digital format.
Wang began a two-day trip to Pakistan on Tuesday primarily to attend a meeting of the Council of Foreign Ministers of the Organisation Islamic Cooperation (OIC) as a special guest.
In a meeting on the sidelines of the summit of the Shanghai Cooperation Organisation (SCO) in Dushanbe on Thursday, the two foreign ministers exchanged views on the current situation in the region and agreed that military and diplomatic officials of both sides should meet again and discuss resolving the remaining issues at the earliest.
Basil had negotiated the Indian economic relief package to help Sri Lanka tackle the current foreign exchange crisis.
'I would want people to have food on their tables and their wages to rise.' 'Will that happen or not is the question that we need to ask and answer.'
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.
The definition will be revised by raising capital base to Rs 2 crore from the current limit of Rs 50 lakh.
7 key areas that the Budget must address to re-energise the infrastructure sector, suggests Vinayak Chatterjee.
Sitharaman also said different departments of the government are working to provide relief to industry, which could be severely impacted by the fast-spreading virus.
Finance Minister Nirmala Sitharaman on Thursday said taxpayer base has almost doubled to 1.28 crore in four years of rollout of the historic tax reform and the enhanced GST mop up in the recent months should now be the "new normal". In a written message to tax officers on the fourth anniversary of GST rollout, she said implementing any reform of this scale in a large and diverse country like India can be highly challenging, but GST has brought about ease in taxpayer compliance and reduced common man's tax burden.
'Three decades of intensive discussions, protocols and Confidence Building Measures were jettisoned one fine morning in 2020.' 'The primary lesson that has been learnt is that that there is no reliability about the Chinese.'
As the FM said, this is a Budget that lays the foundation for the next 25 years, observes Kumar Mangalam Birla.
'The BJP's real weapons are Hindutva, organisation and finance.'
The former umpire's son, Rudi Koertzen Jr, confirmed the tragic news.
In a strongly worded letter to Finance Minister Arun Jaitley, Congress' Jairam Ramesh accused him of distorting facts.
India Inc is encouraged by a determined Budget.
It was one of the toughest times in history to announce a budget, says Harsh Goenka, chairman of RPG Enterprises.
The Congress on Monday strongly criticised the Union budget, saying Finance Minister Nirmala Sitharaman's speech was oblivious to the declining GDP and the budget was a case of "wrong diagnosis and prescription".
