This move will enable it to incur higher-than-mandated borrowing, and possibly spending, till the 2024 Lok Sabha election cycle.
The government had on Wednesday faced major embarrassment in the Rajya Sabha as five amendments moved by the Congress and the CPI-M to the Finance Bill were adopted and approved by the House.
The amendment of around 40 central statutes makes the Finance Bill, 2017 unique
The Opposition on Monday charged the government with trying to promote crony capitalism, creating fear by giving "unbridled power" to taxmen, trying to snoop into people's lives through increased use of Aadhaar through the provisions of the Finance Bill.
'Previously, contributing only 25 per cent of material costs, states now face burdens of 40 per cent to 100 per cent of total costs, ensuring poorer states will curb project approvals, directly stifling work demand.'
The government came in for a scathing attack in the Lok Sabha on Monday from friends and foes alike over handling of the economy.
Thane-based Chitra Tambe, 28, opens up about how she juggles a full-time career and her growing passion while living in a joint family setup.
The annual Finance Bill may soon become far less exciting as the government plans to lift the veil of secrecy surrounding tax proposals in Budget. Once the Direct Taxes Code (DTC) and Goods and Services Tax (GST) are in place, the finance ministry will adopt a public discussion approach for most future decisions, while confining the annual exercise to a few procedural changes.
After Finance Minister Arun Jaitley moved the amended Finance Bill for consideration by the Lok Sabha, Deepender Hooda (Congress) said this was a "historic" occasion as never in the past had the Rajya Sabha amended the Finance Bill.
The first leg of the Budget session concluded with debates over the India-US trade deal and a former army chief's memoir, and will reassemble on March 9.
Govt to scrap 8 appellate tribunals; National Company Law Appellate Tribunal to take over Competition Appellate Tribunal's duties
Arun Jaitley had proposed in the Budget to double the rate of capital gains tax on debt MFs to 20%.
Kerala Chief Minister Pinarayi Vijayan accused Governor Rajendra Vishwanath Arlekar of omitting portions of the state cabinet-approved policy address, specifically criticizing the Union Government's fiscal policies and the pending status of state bills.
A 500 per cent tariff would effectively shut out India's goods and services exports to the US.
You can compound money. You cannot compound being young and stupidly in love. So? 'Don't Play Small' this Valentine's Day
From the 30-Sensex firms, Bharat Electronics surged nearly 9 per cent post its December quarter earnings. Eternal, Bajaj Finance, Power Grid, Trent, Mahindra & Mahindra and UltraTech Cement were the other major gainers. Maruti, Sun Pharma, Infosys and Bharti Airtel were among the other laggards.
According to the Economic Survey 2026, the appropriate stance for 2026 is therefore one of strategic sobriety rather than defensive pessimism.
Finance Minister Nirmala Sitharaman on Monday introduced the Taxation Laws (Amendment) Bill, 2025, which aims to provide tax exemptions to subscribers of the Unified Pension Scheme.
Ajit Pawar became a ray of hope for Muslims, the only man in power who could resolve their grievances.
Officials said the government is keen to conform to the convention of the Union Budget for 2026-2027 being presented on February 1 despite it falling on a Sunday in 2026.
Three laws passed in Parliament could boost central revenues, reshape GST cess flows, shift MGNREGA costs to states and create new budget headroom ahead of the 2026-2027 Union Budget, points out A K Bhattacharya.
A pickup in freight rates, rising fleet utilisation and a long-awaited replacement cycle are breathing fresh life into India's commercial vehicle (CV) market, strengthening the investment case for Tata Motors' CV arm (TMCV). Despite a broadly steady December quarter (Q3) performance, brokerages remain divided on whether the upswing is strong enough to offset margin pressures.
From the 30-Sensex firms, Larsen & Toubro, Tech Mahindra, Tata Consultancy Services, Reliance Industries, Tata Steel, and Trent were among the biggest laggards. On the other hand, Eternal, ICICI Bank, Bajaj Finance, and Bharat Electronics were the gainers.
Union Finance Minister Nirmala Sitharaman on Thursday lashed out at TMC MP Saugata Roy for objecting to her speaking in Hindi on a bill, pointing out that the translation technology allows members to listen to speeches in any language.
Sustaining 8 per cent-plus growth rates is necessary if we are to reach high-income status by 2047, points out Amitabh Kant.
The amendments were adopted with a significant margin, with the difference of votes ranging between 27 and 34 votes.
'Grassroots-level corruption, which disrupts the last-mile work, cannot be ignored in your enthusiasm and drive to get going to complete the project.' 'Like it was in MGNREGA, in some states, it is the case with the Jal Jeevan mission.' 'The last minute levels of corruption can ruin the intent of the project itself.' 'When you see that people can game a particular well-intended and well-crafted project, you need to correct that.'
To digitise Customs processes, the Union finance ministry is planning to integrate the Indian Customs Electronic Gateway (ICEGATE), Risk Management System (RMS), and Indian Customs Electronic Data Interchange System (ICES) into a single unified national Customs platform, according to government sources.
Few proposals included in the Finance Bill would not help ease liquidity concerns in the economy, say RBI officials.
Uttar Pradesh authorities have registered 74 cases and arrested 75 people in connection with the illegal storage and sale of codeine-based cough syrup. A minister alleges links to the Samajwadi Party and an SIT is investigating.
Ask rediffGURU Naveenn Kummar your insurance mutual fund and personal finance-related questions.
Finance Minister Nirmala Sitharaman on Monday introduced two bills in the Lok Sabha to levy excise duty on tobacco and tobacco products, and a new cess on manufacturing of pan masala, which will replace the GST compensation cess on such sin goods.
The Bill is likely to pave the way for amending two existing legislations -- the Atomic Energy Act 1962, and the Civil Liability for Nuclear Damage Act 2010.
Experts said that earmarking of funds for public health at par with national security indicates a key policy shift.
Patel emphasised that one of the most important features of the bill is the establishment of a dedicated tribunal for resolving disputes, reducing the burden on the judiciary and ensuring quicker justice.
In terms of MLA salaries, Odisha is followed by Telangana (about Rs 2.7 lakh), Maharashtra (Rs 2.6 lakh), Manipur (Rs 2.5 lakh), and Uttar Pradesh (Rs 2.4 lakh).
'If a charitable or religious trust sells a capital asset -- such as land, buildings, shares -- and makes a capital gain, it can avoid paying tax on that gain if it reinvests the proceeds in another capital asset for its charitable purposes.'
'The new Bill introduces no policy or rate changes, leaving financial planning strategies largely unaffected.'
'The considerations for choosing between the old and new tax regimes remain essentially unchanged.'
The government has also listed three new bills for the session -- 'The Protection of Interests in Aircraft Objects Bill, 'Tribhuvan Sahkari University Bill', and the 'Immigration and Foreigners Bill'.
'The government, if it deems fit, will incorporate the changes in the Bill, take approval from the Cabinet before moving the bill for consideration and passage in the Lok Sabha.'
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