Budget has several small steps which will boost growth
By any economic theory or doctrine, this is no Budget that supports economic recovery, whether through supporting aggregate demand, or through expansionary stimulus, declares Rathin Roy.
'If the current mood in North Block, headquarters of the finance ministry, is anything to go by, the government will now keep a closer watch on all kinds of schemes and projects undertaken by different central ministries. 'The next six months will determine which central schemes will have to be wound up and which ones will survive the axe,' says A K Bhattacharya.
The government on Thursday decided to ask the 13th Finance Commission to map the road for achieving fiscal deficit targets by including off-budget subsidies like oil, food and fertiliser bonds estimated at over Rs 100,000 crore (Rs 1,000 billion) in the Budget.
JioMeet, which has already got the endorsement of top government officials and politicians, saw a huge surge in its ranking on Google Play, based on its downloads.
CM Stalin has a procedural problem. Nominating new ministers would entail his having to seek formal permission from governor R N Ravi. Stalin does not want to interact with the person of this governor, as far as possible, predicts N Sathiya Moorthy.
The ED carried out searches against two former auditor firms of IL&FS -- BSR and Associates and Deloitte Haskins and Sells -- on Wednesday in connection with its money-laundering probe into alleged financial irregularities at the infrastructure development and finance company, official sources said. The premises linked to the two auditors in Mumbai were searched under the provisions of the Prevention of Money Laundering Act (PMLA), they added. The action came a week after the Supreme Court set aside a Bombay High Court verdict that quashed an SFIO probe against the two companies, both former auditors of IL&FS Financial Services, paving the way for action against them under the Companies Act and allowing the National Company Law Tribunal (NCLT) to take forward its enquiry against them.
The unidentified youths shot Nijjar, a designated terrorist, inside the premises of Guru Nanak Sikh Gurdwara Sahib, of which he was the head, at Surrey at 8:27 pm (local time) on Sunday, they said.
All GST anti-profiteering complaints would be dealt with by the Competition Commission of India (CCI) from December 1 as the extended tenure of National Anti-profiteering Authority ends this month, an official said on Tuesday. A notification in this regard is expected to be issued by the finance ministry later this month, the official added. The National Anti-profiteering Authority (NAA) was set up in November 2017 under Section 171A of Goods and Services Tax (GST) law to check unfair profiteering activities by registered suppliers.
The top court drew parallel between driving and technology and said if one doesn't know how to handle technology then he or she can't be a judge and questioned the approach of some of the high courts.
The BJP needs to win maximum number of seats from northeast to strengthen Prime Minister Narendra Modi so that development of the region continues.
On the present government's 'Make in India' campaign, C Rangarajan, former chairman of the Prime Minister's Economic Advisory Council, says it is important to first ask for whom it is being made.
Indian-American filmmaker Dinesh D'Souza, who had made a documentary on US President Barack Obama, has been indicted on charges of violating federal campaign finance laws.
This form of government, where secrets and major decisions are kept from the Cabinet itself, appears to be continuing, which is why the speculation around this special session, asserts Aakar Patel.
Concerned over rising incidence of mis-selling, the finance ministry has directed heads of public sector banks to put in place strong mechanisms to avoid unethical practices for selling insurance policies to customers. The Department of Financial Services has received complaints that fraudulent and unethical practices are adopted by banks and life insurance companies for procuring policies from the bank customers, a letter addressed to chairpersons and managing directors of public sector banks said. There have been instances where life insurance policies were sold to customers aged above 75 years in Tier II-III cities.
Policymakers should aspire to restore the pre-Independence environment where the rupee was trusted and used all over South Asia, in Southeast Asia, in West Asia, and in East Africa, suggests Ajay Shah.
The PM-CARES fund, which has been set up to provide relief during the coronavirus pandemic, has contributed over Rs 2,200 crore for the first phase of vaccination drive, which is looking to inoculate frontline healthcare workers, the Expenditure Secretary said on Tuesday.
'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.
Finance Minister Nirmala Sitharaman on Monday said the government has begun an exercise to assess the impact of the pandemic on the economy and likely contraction in GDP, even as she did not rule out the possibility of another stimulus to boost growth.
Gujarat will host the next round of G20 meetings from March 27 to April 4, during which three conclaves will be held in the state on a range of issues, where delegates from different countries will converge for participation, an official said.
'There is a misconception that the Centre gives money for the development of Delhi'
The government has made several region-wise and sector-wise allocations in its annual plan and budget proposals.
Reserve Bank Governor Shaktikanta Das on Wednesday said the country is at the doorstep of economic revival on the back of accommodative monetary and fiscal policies being pursued by the central bank and the government.
Modi's BJP has promised more revdis or freebies for these assembly elections than ever before, points out N Sathiya Moorthy.
'The administration will come to a standstill because the governor will not cooperate with the finance minister.'
A 14-year-old girl was allegedly murdered and her body was burnt in a coal furnace in Rajasthan's Bhilwara district, the police said on Thursday.
Ajay Banga was on Wednesday appointed the next president of the World Bank, becoming the first-ever Indian-American to head the global financial institution which said it looks forward to working with him at a time when it's tackling the toughest development challenges facing developing countries. "The executive directors of the World Bank today selected Ajay Banga as president of the World Bank for a five-year term beginning June 2, 2023," the bank said in a press statement. In February, President Joe Biden announced that the US would be nominating Banga, 63, to lead the World Bank because he is "well equipped" to lead the global institution at "this critical moment in history."
The government is targeting export of goods and services worth $2 trillion by 2030.
State industries minister Uday Samant and party leader Ramdas Kadam gave information about the resolutions passed in the meeting.
She said Prime Minister Narendra Modi has received the highest civilian awards from 13 countries, including six with predominantly Muslim population.
The panel, to be headed by Reserve Bank of India Deputy Governor Shymala Gopinath, will review the structure of the National Small Savings Fund and give recommendations on making schemes more flexible and market-linked.
The government should speed up the disinvestment process to generate funds for meeting the new needs such as environment protection, 13th Finance Commission chairman Vijay Kelkar said.
During a session titled 'Sustaining Democracy; Nurturing Democracy', he claimed that tightening the already stringent Unlawful Activities (Prevention) Act (UAPA) in a way that kept people like Siddique Kappan in jail for two years without bail is one of the many ways the current dispensation has 'managed to depart from the democratic spirit of the Constitution'.
Experts have flagged issues regarding the levying of new cess/tax, especially those related to complications in administering the cess.
'Within a short span, it increased attendance, improved children's physical fitness, and led to a rise in the enrolment ratio.'
Assessment note says panel acts as control commission, especially in fund allocations to states.
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