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.
As the CBI continues to probe into the NEET-UG paper leak case, career experts help us understand what the future holds for undergraduate medical aspirants.
'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 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.
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.
Chidambaram, who is also senior spokesperson of Congress, said at the AICC briefing.
Former CAG Rajiv Mehrishi says Centre has held back a report he submitted to the President, to end what he called "a nightmare of accounts that militates against good governance".
The Board of Control for Cricket in India's top brass is not overtly perturbed by Law Commission's recommendation of bringing the richest sporting body of the country under the Right To Information (RTI) ambit.
With less than five months left for the report of the Fifteenth Finance Commission to be submitted, its chairman N K Singh said the report will have fiscal road map for states, depending on their current situation.
The securities regulator's approval for the first US-listed exchange traded funds (ETF) to track bitcoin has given Indian cryptocurrency companies hope that the move would create domestic support for the digital assets. The US Securities and Exchange Commission (SEC) on Thursday approved 11 ETFs for bitcoin, perhaps the most popular virtual currency. It would enable investors to access bitcoin without challenges such as setting up wallets or accounts with crypto exchanges that have previously suffered cyberattacks or implosion.
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.
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.
As many as 417 infrastructure projects, each entailing an investment of Rs 150 crore or more, have been hit by cost overruns of more than Rs 4.77 lakh crore in September this year, an official report said. According to the Ministry of Statistics and Programme Implementation, which monitors infrastructure projects worth Rs 150 crore and above, out of 1,763 projects, 417 reported cost overruns and as many as 842 projects were delayed. "Total original cost of implementation of the 1,763 projects was Rs 24,86,402.70 crore and their anticipated completion cost is likely to be Rs 29,64,345.13 crore, which reflects overall cost overruns of Rs 4,77,942.43 crore (19.22 per cent of original cost)," the ministry's latest report for September 2023 said.
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.
The FinCom has recommended a record 10% increase in states' share.
Various alleged administrative and financial irregularities worth crores have been pointed out in execution of development works in worst Naxal-hit Bastar district of Chhattisgarh by state Accountant General.
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.
Unions have also demanded raising the income tax exemption limit from Rs 2 lakhs to Rs 5 lakhs.
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.
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.
Doval raised the issue during his wide-ranging talks with Barrow, who is currently on a visit to India.
India has also taken note of reports of Saeed's son Talha contesting elections in Pakistan and said the "mainstreaming" of radical terror outfits in the neighbouring country is nothing new and that it has been part of its State policy for a long time.
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.
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.
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.
'As far as contract farming is concerned, we already have a model Act and states will be encouraged to adopt them.'
The government, it would seem, is reserving its firepower to spend on big-ticket items that will be announced in the Budget, reports Subhomoy Bhattacharjee.
The bench said it has to balance the equity and it was not against any policy of the government or the scheme.
Tamil Nadu chief minister M Karunanidhi said on Thursday that 'performing states' like Tamil Nadu have not been receiving their 'due share' from successive finance commissions, who, he alleged, gave more importance to backward states. He called for more allocation to the state from the Central Relief Fund, "considering the natural calamities," the compensation for which, especially crop loss, needed to be substantially increased.
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.
Leaders of several opposition parties on Thursday hailed the Supreme Court verdict striking down the electoral bonds scheme and termed it an important step in ensuring transparency in electoral funding.
Rajya Sabha MP Kapil Sibal on Friday described the electoral bonds scheme as a 'very big scam' and demanded that a special investigation team (SIT) be set up with court-appointed officials to probe the alleged quid pro quo and wrongdoings under it.
A stern articulator with outspoken views and a dignified personality, Sitharaman now bears the responsibility of steering the economy which has witnessed sluggish growth in recent quarters.
On one hand, South Indian states have been complaining about denial of a proportionate portion of the sharable funds from the Centre, based on population. On the other hand, they stand to lose Lok Sabha and Rajya Sabha seats that again are based on population, points out N Sathiya Moorthy.
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.
This time Modi has no emotive message to take to the stump. Muscular nationalism doesn't work against the backdrop of China's successive inroads into Indian territory. Rising prices is a sore point that cuts across class and caste barriers; unprecedented levels of unemployment has the youth in a ferment. This has reduced the BJP campaign to a laundry list of recycled grievances and thinly veiled communal appeals, neither of which are working as well as they have in the past, argues Prem Panicker.
'The government should act proactively to instil confidence in the private investors, and also boost the purchasing power of people directly or indirectly by ensuring minimum wages.'
'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.'
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