Some of the policy measures announced are expected to go a long way in removing current challenges on financing faced by businesses and also increasing economic activity, especially in areas of construction and manufacturing.
Amid a stalemate between the government and the Opposition over the issue, the House failed to transact any significant business and was adjourned for the day.
Copies of the bill, to be moved by Finance Minister Amit Mitra tomorrow for consideration and passage, were circulated among members on the first day of a two-day special session of the Assembly on Monday.
The government has given the Yadavs opposing the Women's Reservation Bill a face saver by which they can withdraw their agitation in the Lok Sabha and allow the House to function, and in return, the government has promised them nothing more than a dialogue and time to discuss the bill with Union finance minister Pranab Mukherjee, not even promising them an all party meeting.
17 MLAs of the TDP were suspended from the assembly for disrupting CM Jagan Mohan Reddy's address on the Andhra Pradesh Decentralisation and Inclusive Development of All Regions Bill, 2020.
To enable widen the fiscal deficit beyond the permissible limit under the present legislation, the government may have to propose amendment to the FRBM Act in the Finance Bill.
Entertainment content (movie and music) will be 10-15 per cent more expensive, following the proposals of the Finance Bill 2010.
Decoding four important provisions in the Finance Bill 2018.
The Delhi government is likely to extend the ongoing Winter Session to allow passage of the Jan Lokpal Bill which was cleared by the cabinet earlier this week.
Following passage of the Constitution Bill, 2014, Dass and Finance Minister Himanta Biswa Sarma, who introduced it in the House, exchanged sweets.
Describing the DAD as the "guardian of defence finance", he emphasised the need to bolster the internal vigilance mechanism so that any suspicious activity can be detected and reviewed immediately.
The controversial proposal to amend the Income Tax Act with retrospective effect to bring into tax net Vodafone-type deals is expected to yield to the exchequer Rs 35,000 to Rs 40,000 crore, the government said.
The West Bengal Assembly had in a special session last week passed the West Bengal Protection of Interest of Depositors in Financial Establishment Bill, 2013, to protect investors in chit fund companies.
The retraction was preceded by a shouting match between Finance Minister Pranab Mukherjee and Railway Minister Mamata Banerji, who had threatened to walk out of a Cabinet meeting protesting some provisions in the Bill earlier this month.
In a big relief from cumbersome tax filing process for the salaried class, Finance Minister Pranab Mukherjee on Monday proposed to exempt them from filing tax returns unless they have other sources of income.
Bihar became the first non-NDA state and overall second after the BJP-ruled Assam to pass GST bill.
Finance Minister Pranab Mukherjee on Wednesday justified legislative changes in taxation law with retrospective effect, saying this was required in order to protect "the interests of the (tax) department".
Rejecting Rajya Sabha's five amendments and opposition's appeal not to make "haste", the Lok Sabha on Wednesday passed the legislation that aims at better targeting of subsidies through the Aadhaar unique identity number within hours of the Upper Housing returning it.
The minister recalled the steps taken by the government to deal with general inflation, which was in the negative zone in June-August, 2009, and had since risen to 9.9 per cent in March, 2010.
The bill to amend the 49-year-old law to guard against claims of succession or transfer of properties left by people who migrated to Pakistan and China was passed amid a walkout by the entire Opposition.
Taking exception to the government's 'comparative' analysis of the two drafts of the Lokpal Bill, Anna Hazare team on Monday asked Finance Minister Pranab Mukherjee to treat both its versions as the joint drafting committee's outcome enjoying 'equal weightage'.
Faced with a deadlock over the Pension Fund Regulatory and Development Authority Bill due to stiff opposition from the Left parties, the government is contemplating to bring a separate Bill on pension funds for private sector employees.
On March 13, Minister of State for Finance Pankaj Chaudhary had tabled the second batch of supplementary demands for grants in the House amounting to a total of Rs 2,70,508.89 crore.
'The prime minister took a meeting recently and he asked for suggestions and ideas for a plan till 2047.'
Finance Minister Pranab Mukherjee said this while presenting the Union Budget for 2010-11 in the Parliament on Friday.
Finance Minister Pranab Mukherjee said this while presenting the Union Budget for 2010-11 in the Parliament on Friday.
The GST Council on Tuesday approved changes in tax rates on some goods and services while allowing states to issue an e-way bill for intra-state movement of gold and precious stones, officials said. The Council, chaired by Finance Minister Nirmala Sitharaman and comprising state counterparts, also cleared a host of compliance procedures for GST-registered businesses along with a GoM report on high-risk tax payers to check evasion. The discussion on the crucial issues of extension of compensation to states beyond June 2022 and the imposition of 28 per cent GST on casinos, online gaming and horse racing, will take place on Wednesday.
The code, which will replace the existing Income Tax Act 1961, aims to rationalise tax rates to bring more people and companies under the tax net.
Offering an olive branch to the Opposition to get the GST bill passed, Finance Minister Arun Jaitley on Thursday said that Prime Minister Narendra Modi is willing to speak to everyone to get the landmark indirect tax law through.
Dutch subsidiary Vodafone International Holdings BV on Tuesday severed a notice of dispute on the Indian government regarding proposals in the Finance Bill 2012 which it claimed violated the international legal protections granted Vodafone and other international investors in India.
The government on Monday tabled the much-awaited Direct Taxes Code Bill in the Lok Sabha which proposed to raise the exemption limit on income tax from the current Rs 1,60,000 to Rs 200,000.
Sluggish corporate earnings, lacklustre global markets, FPI and slowdown concerns have played spoilsport for the markets.
Compliance window for those with undisclosed income abroad to come clean by paying 30 per cent tax and 30 per cent penalty
The CPI (M) members seemed determined to thwart the bill, aimed at increasing the FDI limit in the insurance sector. As Minister of State for Finance P K Bansal rose to introduce the Insurance Laws (Amendment) Bill, 2008, CPI (M) member T K Rangarajan tried to grab the copy of the bill from him. An agitated-looking external affairs minister Pranab Mukherjee pushed Rangarajan to protect Bansal. Another minister Meira Kumar rushed to shield Bansal, who introduced the bill.
The SBI (Subsidiary Banks Laws) Amendment Bill 2009, introduced by minister of state for finance P K Bansal, was necessitated as these powers were vested with the Reserve Bank of India from whom the ownership of these banks were transferred to the Centre few years ago. Once passed, the bill would empower the Centre to increase or reduce the authorised capital of a subsidiary bank.
A courier company owner was arrested for allegedly evading service tax of about Rs 70 lakh
In a relief to industry, the government has accepted a parliamentary panel's recommendation on allowing cartels to opt for the settlement scheme under the Competition Amendment Bill, according to official sources. The proposed Bill seeks to introduce a clause for settlement and commitment that offers any enterprise against which an inquiry has been initiated to file an application for settlement. The Parliamentary Committee on Finance had suggested including cartels in the scope for settlement "as a pragmatic recourse to the whole process".
Facing stiff opposition over the Nuclear Liability Bill, the government on Friday said it will consult all political parties before tabling the draft legislation in Parliament. "
Jaitley's concerns are unlikely to cut much ice with the Congress.
