Former Finance Commission chairman A M Khusro, who died in New Delhi on Sunday, was a distinguished academic, scholar and a towering personality. Besides heading the 11th Finance Commission, he was the chairman of IEG.
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.
The AAP government has decided to set up a commission of inquiry to probe alleged irregularities including financial bunglings in the DDCA.
'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.'
Govt is likely to find it hard to meet deficit target next year.
When a strong executive decides it wants something, even something that is dangerous and unconstitutional, there is little resistance from within to stop it, notes Aakar Patel.
There are wide spread speculations in corridors of power in the Capital that Deputy Chairman of Planning Commission Montek Singh Ahluwalia may take over as the next finance minister of India.
Doval raised the issue during his wide-ranging talks with Barrow, who is currently on a visit to India.
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.
Finance Minister P Chidambaram will soon have to decide whether to stick by his predecessor's choice of former Reserve Bank governor Y V Reddy for chairmanship of the 14th Finance Commission, to be set up next month.
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.
WC star Azad beats state BJP heavyweight Ghosh from Bardhaman-Durgapur constituency
'Chinese are going bang, bang, bang building 30-35 reactors.' 'We should announce a programme of 50 new reactors and show that we mean business on the ground and not just announcements.'
Trinamool Congress is the second highest recipient of political donations through electoral bonds.
2010 was indeed an eventful year from the personal finance perspective. The year had its share of controversies, forward looking policies as well ones which will pinch your pocket more in days to come. Here is a look at top 10 news items (in no particular order).
A Bench comprising Justice S B Sinha and Justice S H Kapadia took a serious view of the non-allocation of funds by the 12th Finance Commission to enable the continuance of the FTCs.
The FATF continuing Pakistan in the 'Grey' list means its downgrading by IMF, World Bank, ADB, EU and also a reduction in risk rating by Moody's, S&P and Fitch.
The Enforcement Directorate made these claims in an official statement issued by the federal agency following its raids in this case at Chennai, Madurai and Tiruchirapalli on April 9.
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.
Budget for 2022-2023 has returned to its agenda for protectionism in the name of creating a self-reliant India, points out A K Bhattacharya.
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.
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.
The amount constitutes 45 per cent of the railways' total wage bill.
Creating many more half-decent jobs for the 10 million plus new entrants to the labour force each year must surely constitute the primary development challenge for India today.
Sitharaman exhorted the states to work together with the Centre, stating that while the Union government sets the direction of economic growth, it is for the states to ensure effective implementation on the ground.
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.
Andhra Pradesh has been demanding a Special Category State status from the Centre ever since the state's economic powerhouse Hyderabad, which housed several IT and pharmaceutical companies as well as PSUs, went to Telengana in the bifurcation
The government hopes to use this data to assess the extent of financial support needed to recover from the pandemic.
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.
Cities are setting the rules that now carry life and death implications for their residents, and most of these rules are sought to be set by the municipal authorities who have never wielded such power, reports Subhomoy Bhattacharjee.
The revised estimated expenditure for FY20 has been pegged at Rs 26.99 lakh crore and receipts at Rs 19.32 lakh crore, she said.
The Pay Commission process is symptomatic of a national crisis within the Indian state.
Jaitley said focus is on larger expenditure on social sector.
From steel tycoon Lakshmi Mittal to billionaire Sunil Bharti Mittal's Airtel, Anil Agarwal's Vedanta, ITC, Mahindra and Mahindra, and a lesser-known Future Gaming and Hotel Services were among the prominent buyers of the now-scrapped electoral bonds for making political donations.
The commission has, over a period of time, identified various parties which have not contested polls since 2005 and has 'delisted' over 200 of them.
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.
'The estimated expenditure is expected to be more than double the Rs 60,000 crore spent in 2019'
