Drabu said the GST regime will roll out in the state at midnight on Friday, making Jammu and Kashmir the last state to join the new tax regime.
The political crisis faced by the Digambe Kamat-led government in Goa has blown over with the Congress leadership managing to convince the Nationalist Congress Party, protesting alleged irresponsible utterances against it by some Congress MLAs, to vote for the finance bill in the state assembly.
The government has reached out to investors to apprise them about Life Insurance Corporation of India's (LIC's) growth and prospects as it prepares for the country's largest initial public offering (IPO). Preliminary presentations have been made to inform investors on how the organisation is being restructured ahead of the IPO, along with its financials, so that the IPO process can be hastened once its embedded value is derived. "A detailed presentation has been made to investors, giving them details on how LIC is positioned beyond what is known. "This includes how LIC is being restructured ahead of the IPO, and investors are keen to know that," said an official. In the Finance Bill, 2021, the government had proposed a slew of changes to the LIC Act, 1956.
The new law would boost home buyer confidence as well as investment in the realty sector.
The Parliamentary panel examining the nuclear liability bill on Wednesday decided to seek an extension for submitting its report on the controversial legislation. The decision to seek an extension came after top Bharatiya Janata Party leaders including L K Advani, Sushma Swaraj and Arun Jaitley had a meeting with Finance Minister Pranab Mukherjee."The committee cannot hustle through the proceedings," said BJP leader Jaswant Singh.
Rural populations will get will get employment in the industrial corridors following amendments to the land acquisition bill.
Mechanism for non-resident service providers made stricter.
Bowing to the pressure of Left parties, the government on Wednesday referred the Pension Fund Regulatory and Development Authority Bill to Parliamentary Standing Committee on Finance.
Investors need to evaluate how they stack up against other high credit quality fixed-income options before putting money in them.
He has spoken to the party's heads in the Lok Sabha and the Rajya Sabha, Sushma Swaraj and Arun Jaitley, respectively , to seek support for the two items of proposed legislation. He got no assurance.
Finance Minister P Chidambaram said the improvement in tax-GDP ratio has given enough money to the Central government to vastly increase outlays. The UPA government inherited a tax-to-GDP ratio of 9.2 per cent that has risen to 12.5 per cent in 2007-08. The ratio will be 13 per cent in 2008-09 he said, replying to the debate on the Finance Bill in Lok Sabha. Improvement in tax-GDP ratio has been despite cut in customs, excise & in the current budget cut in personal tax rates.
The cost of food has constantly been on the rise.
The bill, known as the Justice Against Sponsors of Terrorism Act, would prevent Saudi Arabia and other countries with alleged ties to terrorist groups from invoking their legal immunity in US courts.
While the motives of the Bill are of course laudable, there is every likelihood that the consequences of its passage will be dire.
The 47th GST Council meeting that is currently underway is slated to discuss a host of issues, including a mechanism for compensating states for revenue loss, tax rate tweaks in some items and relaxed registration norms for small online suppliers. Further, the meeting of the Council, chaired by the Union Finance Minister Nirmala Sitharaman and comprising state counterparts, will also clear levying the highest tax of 28 per cent on online games, casinos and horse racing, besides, measures to curb tax evasion, especially devising ways to tackle high-risk taxpayers in GST. "The meeting is being chaired by Hon'ble Union Minister of Finance @nsitharaman and many important decisions are expected to be taken at the meet," PIB Chandigarh tweeted.
Agriculture growth this year would be negative at minus two per cent as a result of adverse impact of drought particularly on kharif crop which would be down 15-16 million tonnes.
Rewarding those who had supported them and refused to pay their power bills during AAP's agitation, the Delhi government on Wednesday decided to give them a 50 per cent relief on their pending bills and also waived the penalty.
The entire Budget-making exercise will be advanced by 3-4 weeks so as to complete the legislative part of financial business before April 1, the start of a financial year
Finding the right way to save taxes requires a great deal of planning. Here's a helping hand.
Finance Minister P Chidambaram on Thursday provided some relief to income tax assesses earning up to Rs 111,250 annually.
The SIT on black money has widened its probe.
While the country imposed limits, it also eased and simplified other restriction to attract foreign inflows. This is done to plug record current account deficit.
The government is making behind-the-scenes offers to other parties in a bid to break them but as long as the Congress is firm on the decision, there is little that the government can achieve on the Insurance Bill.
The party -- happy that the government has accepted its demand for a parliamentary probe into the 2G scam -- might not obstruct most of the important Bills the government would present in this session, said senior BJP leaders.
The Delhi cabinet on Friday decided to call a special session of the assembly to take up the Jan Lokpal Bill that seeks to punish corrupt officials on February 16 at the Indira Gandhi Indoor Stadium instead of the historic Ramlila ground as announced by ruling Aam Aadmi Party earlier.
The negotiations on a draft Lokpal Bill on Monday gained momentum with government and civil society members agreeing on a number of basic principles of the proposed law and deciding to meet more often.
Congress reached out to Samajwadi Party Supremo Mulayam Singh Yadav for his support for passage of the Food Security Bill which is expected to be introduced in the Lok Sabha on Tuesday coinciding with the birth anniversary of Rajiv Gandhi.
The Aadhaar Bill passed during Budget session last month, overruling amendments moved in Rajya Sabha.
'Why wasn't my no-confidence motion tabled in the House?' asks YSRCP MP Y V Subba Reddy.
A Bill proposing to prosecute those stashing illicit wealth abroad with 10 year rigorous imprisonment is on cards.
A united Opposition on Tuesday tore into an ordinance promulgated to amend land acquisition rules, calling it an "anti-farmer" move brought by "bypassing" Parliament to benefit corporate houses, a charge vehemently denied by the government.
A bill to amend the Money Laundering Act, 2002 by allowing the appointment of the chairperson and a member of an Appellate Tribunal, was introduced by Finance Minister P Chidambaram in the Lok Sabha on Friday.
More services such as ATM operations are proposed to be brought within the service tax net.
This form of government, where secrets and major decisions are kept from the Cabinet itself, appears to be continuing, which is why the speculation around this special session, asserts Aakar Patel.
Three members will be representatives from the government, and three from the RBI.
Accusing the Left Front government in West Bengal of ignoring Darjeeling Hills, senior Bharatiya Janata Party leader Jaswant Singh on Friday demanded the creation of a separate Gorkhaland. Singh also demanded more funds under the Cyclone Aila package. Initiating a debate on the Finance Bill in the Lok Sabha, the Darjeeling Member of Parliament wondered, "What wrong have the Gorkhas done not to deserve a separate state."
Finance Minister Pranab Mukherjee's meeting with BJP top brass L K Advani, Leader of Opposition in Lok Sabha Sushma Swaraj, her counterpart in Rajya Sabha Arun Jaitley on Tuesday ended on a positive note with both sides reaching a consensus on most issues in the draft bill.The Parliamentary Standing Committee finalised its report on Nuclear Liability Bill. The Compensation cap raised from Rs 500 crore to Rs 1,500 crore.
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