When Vineet Mittal first got into solar power, sometime around 2009, and was planting solar panels in Gujarat, renewable energy looked like a sector ripe for startups. Renewables were clearly the future of energy, and the big boys - Mukesh Ambani's Reliance, Adani Group, and the Tatas - were focusing much more on coal and petroleum. Little did Mittal know that things were going to change drastically.
Three key babus will make room for a new set of officers to carry the baton of Budget programmes.
Pakistan failed to fulfil six of the 27 mandates so far as a result of which the country continues to be in the grey list of the FATF.
Minister of state for finance Namo Narain Meena said 'No' in a written reply to the Rajya Sabha when asked whether the government is considering any proposal to discontinue insurance agents' commission.
Budget has several small steps which will boost growth
The exit of the big movers has meant more opportunities for local players such as Nambiar Finance, which is just one of the 1,465 non-deposit-taking NBFCs registered with the Mumbai office of the Reserve Bank of India.
There will be a dramatic alteration in the role the Centre and the states will play to shape India's fiscal and economic destiny, report Nitin Sethi and Ishan Bakshi.
China also removed Finance Minister Liu Kun and appointed Lan Fo'an in his place. Liu is the third senior Cabinet minister to be replaced without any explanation.
The total salary and pension bill of the central government, which will also include Railway employees, will go up from estimated Rs 4.33 lakh crore to Rs 5.35 lakh crore during 2016-17
The government is also looking to earn 8 paise for every rupee from Union excise duty and 3 paise from customs duty. While, income tax will yield 14 paise to every rupee collection.
The 7th Pay Commission has recommended more than doubling the 'Military Service Pay' to defence personnel, and suggested that Short Service Commissioned Officers should be allowed to exit the Armed Forces at any point in time between 7 and 10 years of service.
The courts in Pakistan have been flooded with petitions as candidates, mostly backed by jailed former prime minister Imran Khan's Pakistan Tehreek-e-Insaf (PTI), challenged the results of Thursday's general elections, alleging rigging.
'The CEA suggested that could be as high as 19 per cent.'
A day before unveiling the Budget, Finance Minister Pranab Mukherjee will table the Economic Survey in Parliament on Thursday which will take stock of the economy and also the impact of stimulus on industry.
Diktat to four general insurance companies says 'avoid competition' in any corporate or group account
The Prime Minister said there is a need to have a relook at the structure of the Planning Commission and give it a new shape.
The poll panel also referred to the reported strong oral observations of the top court against it during the last hearing on the PIL on the issue, saying they have "caused irreparable damage to the reputation of this institution built over the years".
The losses in state elections in Rajasthan, Madhya Pradesh, and Chhattisgarh have put the ruling party under pressure to announce swift measures aimed at addressing rural distress and lack of employment.
State governments are expected to play a more significant role
The Finance Commission (task force) had recommended an overall GST rate of 12 per cent 'but it is likely to be higher than that', revenue secretary Sunil Mitra said at a Confederation of Indian Industry seminar in New Delhi.
While the responses of the candidates were predictable, depending on which side they belonged to, an interesting point slipped through when Rahul Shewale cited the Dharavi Redevelopment Project as a scheme that would add to Mumbai's importance. No big infrastructural project in Mumbai, he said, could be successful without the Centre's nod.
The project is the largest investment undertaken by any private sector entity in CSP in India.
The Election Commission has placed orders estimated at more than Rs 300 crore with Electronics Corporation of India Ltd and Bharat Electronics Ltd to deliver Electronic Voting Machines for the Lok Sabha elections.
'This mega corruption scandal, as certified by the Supreme Court, will expose the unholy nexus between the BJP and its corrupt corporate masters'
'After the creation of Telangana, Andhra Pradesh has been left as an agrarian state.' 'Therefore, the special category status to this residual state was imminent and necessary for its development,' YSR Congress MP V Vijayasai Reddy explained in the Rajya Sabha.
The 61-year-old MLA from Islampur seat of Maharashtra was issued the first summons for appearance on May 12 but he had sought deferment for about 10 days citing some personal and official engagements.
The empowered committee of state finance ministers has virtually trashed the Thirteenth Finance Commission taskforce's Goods and Services Tax report.
Current account deficit in 2010-11 will be well below 3.0 per cent of GDP.
A five-judge Constitution bench headed by Chief Justice D Y Chandrachud, which was hearing an application filed by the Election Commission (EC) seeking a modification of the operative portion of its March 11 order in the electoral bonds case, directed its registrar (judicial) to ensure that the data filed earlier by the poll panel before it in a sealed cover be scanned and digitised.
Union Agriculture and Farmer Welfare Minister Munda, Commerce and Industry Minister Piyush Goyal and Minister of State for Home Affairs Nityanand Rai represented the Centre at the meeting over the farmer unions' various demands, including a law guaranteeing a minimum support price (MSP) for crops. Punjab Chief Minister Bhagwant Mann also joined the meeting at the Mahatma Gandhi State Institute of Public Administration in Sector 26. The meeting started at around 8:45 pm on Thursday and lasted for around five hours.
The finance minister said the economy had been slowing.
Prime Minister Narendra Modi's idea of cooperative federalism is expected to be on display in the 2015-16 Budget.
'Not even a single rupee from the electoral bonds should be allowed to be used in the election.' 'If it is used in the election, it will taint India's electoral process itself.'
Finance Minister Pranab Mukherjee on Thursday said that financial year 2009-10 was ending with clear signs of economic rebound and the growth would rise to about 8.5 per cent in the next fiscal.
Democracy does not begin and end with elections and the integrity of election process is pivotal for sustaining the democratic form of government, the Supreme Court said on Thursday while striking down as unconstitutional the electoral bonds scheme for political funding.
The TDP chief said he tried to speak to Prime Minister Narendra Modi as a 'courtesy' to inform him about the decision to quit but he did not come on line.
Now, the commission will be between zero per cent to 0.5 per cent.
The report for the period ended March 2009, presented in the assembly by Deputy Chief Minister S K Modi, who holds charge of the finance department, said revenue receipts between 2008-09 increased by Rs 4770.97 crore (Rs 47.7 billion) mainly due to grants-in-aid and share of Union taxes from the Centre.
The panel may include or seek inputs from former RBI Governor Urjit Patel, former chief economic advisor Arvind Subramanian, Sajjid Chinoy of the PM-EAC, Rathin Roy, among others.
