The Congress on Friday alleged that the electoral bonds data has exposed 'corrupt tactics' of the Bharatiya Janata Party such as quid pro quo, seeking donations for the company's protection, kickbacks and money laundering through shell companies.
BlackRock has again reduced the valuation of its share in edtech firm Byju's - this time to about $1 billion, TechCrunch reported on Friday, citing disclosures made by the US-based asset manager. This is 95 per cent less than its peak valuation of $22 billion in 2022. The markdown comes at a time when the company is facing a multitude of challenges, including securing fresh capital, delays in financial reporting and legal disputes with lenders.
Finance Minister Nirmala Sitharaman on Tuesday met top officials of the finance and corporate affairs ministries to review the implementation of various announcements of the Union Budget FY24. "The finance minister underlined the importance of continuous assessment of progress to ensure that various announcements are implemented in a time-bound manner," the finance ministry said in a tweet. Sitharaman also discussed in detail various issues on the digital competition laws with Rajeev Chandrashekhar, the minister of state for entrepreneurship, skill development, electronics and technology.
Govt is likely to find it hard to meet deficit target next year.
The dealers operating in the space have jumped nearly three times over the past two years.
The identity of the informant shall be kept a secret, it said.
The first Karnataka legislative assembly session, after the formation of the new government will be held on starting Monday next week in Bengaluru.
There's a hint of new competition riding into a sector that has attracted attention for being in a duopoly-like situation. Rapido, a commute app known for its budget-friendly bike-taxi services, on Tuesday announced its entry into the cab market, which is currently dominated by marquee brands Uber and Ola. Rapido's cab foray will be enabled by a software as a service (SaaS)-based platform.
Sitharaman also said states will get 41 per cent share of taxes as per the 15th Finance Commission recommendation and the government has accepted the recommendation.
In its verdict last month, the top court directed the SBI to furnish the details to the Election Commission (EC) by March 6.
Vithal, a 1950-batch IAS officer, died early on Friday morning due to old age ailments, his son Sanjay Baru, media advisor to former prime minister Manmohan Singh, told PTI.
A team of Delhi Police Crime Branch on Sunday visited Finance Minister Atishi's residence and served her a notice in connection with allegations that the Bharatiya Janata Party was attempting to 'poach' Aam Aadmi Party MLAs.
There are several welcome standalone reforms, but these do not add up to a coherent strategy to achieve a $5 trillion economy or secure Aatmanirbharta, observes Rathin Roy.
Amid the opposition UDF's sloganeering against him, Kerala Governor Arif Mohammed Khan on Friday delivered the customary address to the assembly with the policy document outlining the Left government's administrative achievements and criticising the Centre for allegedly pushing the state to financial constraints by reducing its resource allocations.
Eminent economist and Nobel laureate Amartya Sen on Monday described the electoral bonds scheme as a scandal and welcomed the Supreme Court's recent judgment annulling it.
Prabhu hoped that during this 3-4 years period, railways would be able to absorb the impact from their resources
In a landmark judgment that delivered a big blow to the government, the Supreme Court on Thursday annulled the electoral bonds scheme, saying it violates the constitutional right to freedom of speech and expression as well as the right to information.
Adani Power, part of the Adani group, plans to add close to 6 gigawatts (Gw) of new power assets in the next five years, according to an investor presentation by the company. That is clearly meant to ride on India's burgeoning power demand. But there is another side to it: All of this new capacity is expected to be thermal power, or power produced from coal.
Trinamool Congress is the second highest recipient of political donations through electoral bonds.
There were reports that some Commission officials were against the Rajan panel's suggestion to replace Gadgil- Mukherjee formula with Rajan Committee's Multi Dimensial Index for allocation funds to states.
'As far as contract farming is concerned, we already have a model Act and states will be encouraged to adopt them.'
For every rupee in the government coffer, 58 paise will come from direct and indirect taxes, 35 paise from borrowings and other liabilities, 5 paise from non-tax revenue like disinvestment and 2 paise from non-debt capital receipts, according to the Budget documents for 2022-23. According to the Union Budget 2022-23 presented in Parliament by Finance Minister Nirmala Sitharaman on Tuesday, goods and services tax will contribute 16 paise in every rupee revenue, while corporation tax will contribute 15 paise to each rupee earned. The government is also looking to earn 7 paise for every rupee from Union excise duty and 5 paise from customs duty. Income tax will yield 15 paise to every rupee collection.
Kharge termed the high-level committee constituted by the Centre to examine the feasibility of 'One Nation, One Election' a 'gimmick' and alleged the Modi government wants to slowly replace democracy in India with dictatorship.
Delhi CM Arvind Kejriwal said the govt will extend a loan of Rs 551 crore to two civic bodies; and alleged a situation was being created through the ongoing strike to prepare grounds for imposition of central rule.
The government on Wednesday cleared the setting up of an Investment Commission to woo foreign as well as domestic investors for major projects in the country.
Finance firms in these SEZs likely to get tax breaks.
Budget-makers in North Block are looking to maintain this fiscal status quo, in spite of tax revenues nowhere close to where the government wants and in spite of possible higher expenditure commitments.
The 64-year-old Planning Commission, a vestige of the socialist era, will soon become history.
The number of centrally sponsored schemes have increased to 35 in FY22 from 30 in FY21 and central sector schemes have increased to 704 from 685 in the previous year, reports Dilasha Seth.
In the October-December quarter (Q3) of FY24, Hindalco reported flat consolidated revenue year-on-year (Y-o-Y) at Rs 52,800 crore. Copper revenue rose due to higher shipments and better Average Selling Price (ASP). Revenue from the aluminium vertical and Novelis declined 3 per cent and 6 per cent Y-o-Y, respectively.
It shows that states would require a compensation to the tune of at least Rs 1.67 trillion in 2024-25, as none of them would be able to achieve a 14 per cent growth every year.
The states have outstanding liabilities of a whopping Rs 59,89,360 crore as on March 31, 2021, and the new sources of risk have emerged in the form of rising expenditure on non-merit freebies, the Supreme Court was told on Thursday by a PIL petitioner opposing irrational handouts.
The probe agency named her as an accused in its supplementary charge sheet filed in the case on Wednesday. Additional Sessions Judge Dharmender Rana will take up the matter for on November 10.
After the Planning Commission rejected its financing plan for the second time, the National Highways Authority of India (NHAI) is preparing a new draft plan. The earlier proposals were rejected citing that NHAI would find it difficult to borrow funds from the market.
There are justifiable concerns that, if all financial allocation powers are now shifted to the finance ministry, then the end of the Commission might be counter-productive -- states' needs could, in fact, be addressed less.
'I do not believe that you would have a booming economy when you go into elections if you had a budget which did not answer the fiscal deficit concerns.'
The result is a big blow to the military establishment, revealing the limits of 'political engineering'. It reflected the anger of the electorate, especially its younger voters, who have spoken decisively against the persistent harassment and victimisation of Imran Khan's political party, asserts Rana Banerji, who headed the Pakistan desk at RA&W.
Amid a debate on the freebies, the Election Commission on Tuesday proposed amending the model code to ask political parties to provide authentic information to voters on the financial viability of their poll promises.
The agency had received Rs 946.51 crore to manage its affairs in the Budget Estimates for 2023-24, which was later increased to Rs 968.86 crore in the Revised Estimates.
Despite the objections raised by Reserve Bank of India and Election Commission, India's politics has been funded anonymously and it is time to end this, asserts Aakar Patel.
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