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.
RBI is likely to continue with its tough stance on monetary policy to maintain price and financial stability.
'If because of El Nino, the monsoon is affected adversely in the current year, naturally it will affect income projections and consequently Budget numbers.'
The BJP MLAs -- Vijender Gupta, O P Sharma and Jagdish Pradhan -- were evicted from the House after they trooped to the Well and raised slogans.
Delhi CM Arvind Kejriwal said the govt will extend a loan of Rs 551 crore to two civic bodies; and alleged a situation was being created through the ongoing strike to prepare grounds for imposition of central rule.
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.
Various indicators make it amply clear that there are grave challenges facing the new government of Chief Minister Nitish Kumar, reports Indivjal Dhasmana.
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 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.
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.
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.
Finance Minister Arun Jaitley to discuss key issues with state finance ministers.
"A solution has been put on the table. It is for Andhra Pradesh to decide whether they want the resources or they want to make an issue (out of it)," he said.
The trio could play a significant role in the global economy, which is facing a slowdown, Finance Commission chairman Vijay Kelkar said at a conference on Russia, India and China in New Delhi. The conference was held to throw light on common policy issues characterising each of the society, said Suman Berry, National Council of Applied Economic Research director general.
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.
The Budget would preserve macro-economic stability.
The Goods and Services Tax, proposed to be introduced from April 2010, would benefit the economy by at least $15 billion
An international seminar on accounting practices opened on Monday with Finance Commission chairman C Rangarajan asking the government to ensure better expenditure control for containing fiscal deficit.\n\n\n\n
The commerce ministry will approach the 13th Finance Commission next month suggesting measures to reduce the incidence of local taxes on exports. With the state levies accounting for 6 per cent of the cost of exporters' consignments, the ministry wants to ensure that these taxes are rebated on the lines of refund of Central levies through different schemes.
Terming India's fiscal decentralisation as 'flawed', the World Bank has mooted six broad strategies, including strengthening the state finance commissions, broadening tax base and greater devolution of power to Panchayati Raj institutions.
The finance minister defended the change in the tax rates.
The Indian startup ecosystem, which defied odds during a pandemic-hit year to create record 12 unicorns, has the potential to be the engine of growth in the medium to long run, according to the Economic Survey 2020-21. The survey noted that startups are the platform for entrepreneurs who have the ability to think out of the box and innovate to conceive products that can create a niche for themselves in a dynamically changing world.
Increase of 10% to 12% likely in a bid to improve citizens' mood after demonetisation.
Other decisions piled up include rationalisation of GST rate slabs, correction of inverted duty on certain items and inclusion of petroleum products.
In a relief to industry, the government has accepted a parliamentary panel's recommendation on allowing cartels to opt for the settlement scheme under the Competition Amendment Bill, according to official sources. The proposed Bill seeks to introduce a clause for settlement and commitment that offers any enterprise against which an inquiry has been initiated to file an application for settlement. The Parliamentary Committee on Finance had suggested including cartels in the scope for settlement "as a pragmatic recourse to the whole process".
Days after cutting the salaries and other allowances of MPs and ministers, the government has passed instructions to all departments to reduce their expenditure by as much as 60 per cent from their first-quarter spending plans.
For the time being, digital lending remains a grey area, notes Tamal Bandyopadhyay.
For Yoginder, it is a release from pain. But for us, his friends, it is the loss of a warm and generous life companion, says Nitin Desai of his 50-year association with the eminent economist who passed into the ages on December 6, 2022.
'There is a fiscal crisis building up, which might become apparent when the Finance Commission presents its report,' warns T N Ninan.
Banks do extensive investigation before declaring an account fraud; they owe it to us as they deal with our money. Why would they try to fix an innocent borrower? asks Tamal Bandyopadhyay.
Law Minister H R Bhardwaj told delegates that the Centre also plans to introduce a bill in Parliament to set up mobile rural courts known as 'Gram Nyayalayas' to make justice available at doorsteps to people in villages.
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 losses in state elections in Rajasthan, Madhya Pradesh, and Chhattisgarh have put the ruling party under pressure to announce swift measures aimed at addressing rural distress and lack of employment.
'We wanted the PM to speak, and he just refused to -- now we have the opportunity, not just in the Lok Sabha, but also in the Rajya Sabha, to lay the government on the mat.'
The 61-year-old MLA from Islampur seat of Maharashtra has been asked to depose before the federal agency in Mumbai on Friday, they said. Patil, a former minister of home and finance, is also the Maharashtra president of the NCP and is a seven-term legislator.
Speaking after interacting with gram panchayats and pani samitis/village water and sanitation committees (VWSC) on the Jal Jeevan Mission, Modi said the mission is not just about bringing water to people but it is also a decentralisation movement that is village and women-driven.
Every option before the finance minister comes with a price tag, observes T N Ninan.
The reason behind issuing new bank licences is to allow more private sector entities to set up banks
