The government has allowed the Enforcement Directorate to share information about economic offenders with 15 more agencies, including SFIO, CCI and NIA, a move that will expedite nailing of law-breakers. The finance ministry notified changes to the Prevention of Money Laundering Act (PMLA), 2002, on November 22. Through the notification, the Enforcement Directorate (ED), which deals primarily with cases of money laundering and violations of foreign exchange laws, would be able to share data with a total of 25 agencies, including the 10 specified earlier.
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.
There has been criticism of the official statistics ever since MoSPI came out with new methodology to estimate the GDP on the base year of 2011-12 compared to earlier 2004-05.
Finance Minister Pranab Mukherjee may have earned plaudits for projecting a decline in the fiscal deficit to 5.5 per cent of gross domestic product (GDP) for 2010-11, but his targets for revenue deficit reduction are relatively modest and represent a departure from the 13th Finance Commission's recommendations.
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.
City's alleged breaches stretch from the 2009-10 season to the 2017-18 campaign, the league said on Monday.
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.
India's role as a leader of the global south may require it to give up its ambition to serve as a bridge between the warring halves of the international community, points out Mihir S Sharma.
'If we want faster growth and want greater flow of credit towards the private sector, it's important to have many more of such large entities.'
Jailed ex-Pakistan premier Imran Khan's party-backed independent candidates on Friday sprang a surprise by winning 86 seats out of the 201 results declared following unusual delays and allegations of rigging, as the country appeared heading towards a hung assembly.
Nirmala Sitharaman has designed the revenue mix in such a way that while Centre's share in taxes would grow a massive 25 per cent, states' share would grow a dismal 6 per cent.
Nijjar was a close associate of Gurdeep Singh alias Deepa Heranwala, who was involved in the killing of around 200 people in Punjab during the late 1980s and early 1990s.
Pawar said, "I will meet PM Narendra Modi on July 18. During the meeting, I will take up various issues related to farmers with him. (NCP leader) Praful Patel and I will attend the National Democratic Alliance (NDA) meeting."
The Supreme Court on Wednesday said there must be a "debate" on the "serious" issue relating to the practice of political parties promising freebies and asked why cannot the Centre call for an all-party meeting on it.
'An era of fiscal pessimism is setting in, which, if not countered intellectually, is going to have the same effect as export pessimism has had,' notes T C A Srinivasa Raghavan.
Divestment also was not covered. One would have expected divestment to be a major instrument for raising fund for various projects, as was the case in the last 3-4 budgets but we did not see it at all.
Rajya Sabha member Pravin Rashtrapal, who has been re-nominated by the Congress from Gujarat for the biennial elections to the Upper House, on Friday filed his nomination papers in Gandhinagar.
False and acrimonious debates such as Modi versus Manmohan might allow for victories that are political and partisan. But the real loser is the nation, India and Bharat, notes Arvind Subramanian, former chief economic advisor to the Modi government in its first term.
Budget has several small steps which will boost growth
Prime Minister Narendra Modi on Tuesday attacked the Congress, saying it skipped the meeting convened to select the new Chief Information Commissioner (CIC) as he is a Dalit and this reflected the anti-Scheduled Castes mindset of the main opposition party.
Internet major Google has appointed former joint secretary at Niti Aayog Archana Gulati as head of public policy in India. A Google spokesperson confirmed the appointment. Messages sent to Gulati elicited no immediate reply. Gulati was looking after digital communications policy matters at the government think tank and took voluntary retirement in April last year.
Expelled AIADMK leader Sasikala has said that she is ready to face all enquiries against her over the death of former Tamil Nadu chief minister Jayalalithaa.
Over the past six months Rajasthan has introduced some of India's most radical free-market labour, land and welfare reform.
Ahead of the Karnataka assembly elections, the government on Friday approved the issuance of the 26th tranche of electoral bonds that will open for sale on April 3.
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.
States could then stop complaining about the Centre and fashion their own economic destinies, says T C A Srinivasa Raghavan.
Once more women assume leadership roles and join the nation-building process, he said, adding they will become a guarantee of the country's bright future.
'If because of El Nino, the monsoon is affected adversely in the current year, naturally it will affect income projections and consequently Budget numbers.'
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.
The National Company Law Tribunal (NCLT) has reserved its order on the merger of Zee Entertainment Enterprises and with Culver Max Entertainment (earlier known as Sony Pictures Networks India). The Mumbai bench of NCLT, comprising H V Subba Rao and Madhu Sinha, reserved the order on Monday, after hearing arguments from creditors who objected to the scheme including Axis Finance, JC Flower Asset Reconstruction Co, IDBI Bank, Imax Corp and IDBI Trusteeship. In December 2021, Zee Entertainment and Sony Pictures had agreed to merge their businesses.
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.
Pakistan was put in the inglorious list in 2018 for its failure to check risk of money laundering, leading to corruption and terror financing.
The BJP needs to win maximum number of seats from northeast to strengthen Prime Minister Narendra Modi so that development of the region continues.
'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 Aam Aadmi Party on Sunday raised questions on the genuineness of Prime Minister Narendra Modi's degrees and claimed that they would turn out to be fake if a probe is conducted.
The government has made several region-wise and sector-wise allocations in its annual plan and budget proposals.
'There is a misconception that the Centre gives money for the development of Delhi'
For the time being, digital lending remains a grey area, notes Tamal Bandyopadhyay.
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.
