The centre's promise of a new deal for the states is a welcome development.
Future Retail has shut most of its Big Bazaar stores since February 25 (Friday) and its website is also down as it missed lease payments to Reliance Industries (RIL). RIL will open most of the 200 Future Retail stores as Reliance stores in the next week and it is in the process of taking stock, re-branding, and transferring 30,000 Future Retail and Future Lifestyle employees on to the rolls of its manpower and staffing firm Reliance SMSL, according to a source. The first tranche of stores are set to be opened as early as in the next two days.
The insurance regulator wants the removal of the minimum entry capital requirement of Rs 100 crore for setting up an insurance business in a bid to facilitate the entry of multiple players such as standalone micro insurers and niche players. Debasish Panda, chairman, Insurance Regulatory and Development Authority of India (Irdai), said it should be left to the regulator instead to decide what should be the entry fee for interested players, depending on the size of the business and operations. According to the current norms, insurers are required to have a minimum paid-up capital of Rs 100 crore.
Political observers are keen to see if the BJP will now be guided by its more firmly entrenched ideological dominance in picking a face solidly identified with its core planks, or if it will choose a person tilted more to its electoral calculations. Or, whether its pick will be an ode to its core supporters or a outreach to relatively new groups of votaries.
The global agency said there are "serious deficiencies" on the part of the country in checking terror-financing and it lacks an effective system to deal with it.
'This issue is related to national security because they were compromising the entire capital markets's core infrastructure by leaking confidential information.' 'What would have happened if the servers had come down?' 'Or some confidential information leaked to terrorists who could have knocked out our capital market?'
The data provided by the SBI shows that highest purchase of electoral bonds for the year 2019 was reported from Mumbai where the bonds worth Rs 495.6 crore were sold.
'If Nitish goes alone, he will be washed away.' 'If he hand holds the BJP, it will again crush him because it will be known that he has sided with the BJP because he doesn't have any other option.' 'Lalu knows Nitish coming back will be a political gain for Lalu.'
The studies found that sectors with the highest unaccounted income included real estate, mining, pharmaceuticals, pan masala, gutkka and tobacco, bullion and commodity markets, film industry, educational institutes and professionals.
The income tax (I-T) department on Tuesday extended the deadline for filing settlement applications for eligible taxpayers till September 30, as the income tax settlement commission (ITSC) ceased to exist from February 1. This comes amid interim relief provided by some high courts, directing acceptance of applications of settlement even after February 1. To dispose the pending settlement applications as on January 31, the central government has constituted Interim Board for Settlement.
The perception is rapidly gaining ground that though the chief minister is from the Shiv Sena, the government is being run by the NCP.
This, said Sitharaman, would remove the possibility of unauthorised communication "and consequent harassment", which was a cause of concern for bankers.
In the last budget, then finance minister Arun Jaitley had allocated Rs 85,010 crore for the education sector which was later revised to Rs 83,625.86 crore.
As per latest government data, retail inflation inched up to a 22-month high of 5.77 per cent in June.
It was better to first build a single-rate GST with a low rate, achieve full mastery of this, and then consider more complex possibilities such as high rates and multiple rates.
The CVC has been allocated Rs 39 crore for 2020-21, up from the revised Rs 36.65 crore for the ongoing fiscal.
According to senior officials, nine additional commissioners have been allocated departments and office spaces at different floors of the Civic Centre, while three deputy commissioners were also appointed.
"If the direction of satellites to Mars and Moon can be controlled from the earth, then why can't EVM be hacked," Udit Raj said in a tweet in Hindi. "If elections were held in America with EVMs, could Trump have lost," he asked.
No other corporate house in India is in a better position than Tata group for the takeover of debt-laden airline Air India, former deputy chairman of erstwhile Planning Commission Montek Singh Ahluwalia said on Thursday. Tata Sons has emerged as the top bidder for the takeover of the state-run airline but the bid is yet to be approved by a group of ministers headed by Home Minister Amit Shah. "You can't have a better corporate, with a better position than the Tatas, we can hand it (state-run airline Air India) over," he said while replying to a question in a virtual event.
Polling for 16 Rajya Sabha seats in four states will be held on Friday amid allegations of attempts at horse-trading by rival parties which have corralled their MLAs in hotels and scenic resorts, prompting the Election Commission to appoint special observers and order videography of the entire exercise.
In a soon to be published book, 'Of Counsel: The Challenges of the Modi-Jaitley Economy,' former chief economic advisor Arvind Subramanian says though RBI has a good reputation, it does not mean it's always right, as for years, the RBI was unable to grasp the seriousness of the loan repayment problems or identify the prolonged frauds of Nirav Modi and the likes.
Available in a range of standards, including gold and silver, the special collectors' coin is designed by Heena Glover and features an image of a lotus, India's national flower, alongside one of Gandhi's most famous quotes -- "My life is my message".
So, what's the problem if our present is screwed up when the future promises to be profitable? It's an Indian habit, notes Shyam G Menon.
The finance ministry on Monday said the recent raid on perfume trader Peeyush Jain's house in Kanpur, from where more than Rs 177 cr unaccounted cash was unearthed, was the "biggest ever seizure of cash" by an enforcement agency. The December 26 raid, which resulted in Jain's arrest, included searches at Jain's residential/factory premises in Kannauj, where about Rs 17 crore in cash have been recovered, the ministry said in a release. Further searches are underway at Jain's residential/factory premises in Kannauj.
The proscribed organisations will be examined under heightened security checks at all layers of legal, administrative, investigative and financial regimes, the Dawn newspaper reported.
Reddy has worked to reform the economy.
While the farmers are not getting remunerative prices for their produce, at the same time they are forced to pay high prices for items they consume.
The Parthasarathy Shome committee gives its second reform report to finance ministry.
LIC identifies the problems well, but what the markets will watch is how nimble it is with the solutions.
After witnessing cloudy skies this year, the country's renewable energy sector is expected to boom with a likely investment of over $15 billion in 2022 as the government focuses on electric vehicles, green hydrogen, manufacturing of solar equipment as well as achieving the ambitious 175 GW renewable capacity target. India, which has an installed renewable energy generation capacity of a little over 150 GW, aims to reach 175 GW in 2022. Out of the total mix, 100 GW would be from solar, 60 GW from wind, 10 GW from bio-power and 5 GW from small hydro power projects.
'Legally, anything can be promised in the manifestos. However, the SC has said the promises should not be unreasonable'
The Budget sets out a comprehensive vision.
Lavasa, a career bureaucrat, joined as Election Commissioner on January 23, 2018, and being senior most on the poll panel would have become CEC in April next year after the term of incumbent Sunil Arora ends.
The searches since December 22, which resulted in Jain's arrest, also included searches at the trader's residential/factory premises in Kannauj, wherein about Rs 17 crore in cash, 23 kg of gold and 600 kg sandalwood oil having a market value of about Rs 6 crore have been recovered, the ministry said in a release.
Major Shweta Pandey was commissioned in the Army in March 2012 from the Officers Training Academy, Chennai.
Jaitley told reporters that allegations by the top two officers of the country's premier investigation agency led to a 'bizarre and unfortunate' situation.
Jharkhand mining secretary Pooja Singhal, earlier arrested and remanded to the custody of the ED in a suspected money laundering case, was suspended by the Jharkhand government on Thursday, an official said.
Inter-ministerial body Telecom Commission on Tuesday approved hiking foreign direct investment limit in the sector from 74 per cent to 100 per cent.
Agri experts are meeting FinMin ministry officials on Monday to give their inputs on the Budget.
