While the motives of the Bill are of course laudable, there is every likelihood that the consequences of its passage will be dire.
The cost of food has constantly been on the rise.
The commerce ministry is proposing a host of direct and indirect incentives such as deferral of import duties and exemption from export taxes to revamp Special Economic Zones through a new legislation, an official said. In the Union Budget this year, the government proposed to replace the existing law governing Special Economic Zones (SEZs) with a new legislation to enable states to become partners in 'Development of Enterprise and Service Hubs' (DESH). The official said the commerce ministry has sought views of different ministries, including finance, on the new bill.
Will Annamalai's attacks on the DMK revert the anti-BJP feeling in Tamil Nadu, asks N Sathiya Moorthy.
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.
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.
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 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
The SIT on black money has widened its probe.
Could it have been more reformist? Of course, but this is an election year Budget, observes Akash Prakash.
The Aadhaar Bill passed during Budget session last month, overruling amendments moved in Rajya Sabha.
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.
Finding the right way to save taxes requires a great deal of planning. Here's a helping hand.
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.
'Why wasn't my no-confidence motion tabled in the House?' asks YSRCP MP Y V Subba Reddy.
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.
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.
Finance Minister P Chidambaram on Thursday provided some relief to income tax assesses earning up to Rs 111,250 annually.
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.
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.
When he didn't respond (Mr Saver has lost count of how many relationship managers he has had in the past few years!), the gentleman landed up at his doorstep and started pleading with him to open fixed deposits with the bank, observes Tamal Bandyopadhyay.
The government is targeting export of goods and services worth $2 trillion by 2030.
Three members will be representatives from the government, and three from the RBI.
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.
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.
More services such as ATM operations are proposed to be brought within the service tax net.
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."
Despite being cleared in the lower house, the GST bill has been pending in the Rajya Sabha for clearance, where the Congress enjoys numerical strength, reports Kavita Chowdhury.
The Bill has already been passed by the Lok Sabha.
The government on Monday said it was willing to discuss every issue under rules during the Budget session of Parliament and sought the support of the Opposition in running the proceedings smoothly.
In the entire month's recess during Parliament's Budget session, said the Bharatiya Janata Party, the major opposition grouping, none from the government spoke to it on any of the major stuck legislation.
A new comprehensive Income Tax bill will be drawn up by the next fiscal end to clean up complex and archaic laws, Finance Minister P Chidambaram said on Friday.
On the eve of consideration of Lokpal Bill by the Rajya Sabha, Trinamool Congress on Wednesday mounted difficulties on the government by giving notice for amendment to the crucial legislation in which it wants references to formation of Lokayuktas to be dropped.
The Bharatiya Janata Party on Friday spurned Finance Minister Pranab Mukherjee's request for inputs on the proposed Lokpal Bill, arguing it would not be proper for a political party to submit its views to a drafting committee comprising civil society members as it would upset constitutional propriety.
Ruling out the implementation of value-added tax from June 1, Finance Minister Jaswant Singh on Wednesday announced several excise duty concessions on edible oil and textiles.
Days before the passage of the Finance Bill in the Parliament, Left party leaders on Friday met Prime Minister Manmohan Singh and demanded urgent steps by the United Progressive Alliance government to check growing prices of essential commodities. Top leaders of four Left parties, supporting the government placed six demands before him, saying these measures should be taken immediately to curb burgeoning prices.
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