The Twelfth Finance Commission chairman C Rangarajan said on Tuesday that he was in favour of an early implementation of the value added tax regime.
The recommendation was for imposing a cess of Rs 60 a year for families above the poverty line and Rs 25 for families below the poverty line, its report said.\n\n
Suggestions made by the different experts have been noted and would be forwarded to Prime Minister Narendra Modi.
The Supreme Court of India on Wednesday said the problem with electoral bonds scheme is that it provides for "selective anonymity" and "selective confidentiality" as the details are available with the State Bank of India (SBI) and can also be accessed by the law enforcement agencies.
A section of the media on Thursday reported, quoting an unnamed EC official, that it may not allow RBI to go ahead with the plan before the polls and that they need more clarity from the Mint Road on certain aspects.
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.
The government has proposed to implement GST from April 1, 2016, and the new Finance Commission may be set up ahead of its schedule to look into the issues related to the new indirect tax regime.
'The Budget numbers presented severely underestimate the magnitude of the unstated fiscal crisis that we went through in 2018-2019, which cannot be conceivably be fully reversed in 2019-2020,' points out Rathin Roy, director, National Institute of Public Finance and Policy.
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.
As many as 386 infrastructure projects, each entailing an investment of Rs 150 crore or more, have been hit by cost overruns of more than Rs 4.7 lakh crore, as per a report. According to the ministry of statistics and programme implementation, which monitors infrastructure projects of Rs 150 crore and above, out of 1,505 projects, 386 reported cost overruns and as many as 661 projects were delayed. "Total original cost of implementation of the 1505 projects was Rs 21,21,793.23 crore and their anticipated completion cost is likely to be Rs 25,92,537.79 crore, which reflects overall cost overruns of Rs 4,70,744.56 crore (22.19% of original cost)," the ministry's latest report for July 2022 said.
West Bengal Chief Minister Mamata Banerjee on Saturday tore into Narendra Modi government, accusing it of bulldozing the federal structure and running a Presidential form of government, drawing sharp reaction from the Bharatiya Janata Party.
A panel will examine the merits and demerits of various dates for the commencement of the financial year.
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'.
Outlay for infra is also expected to see a significant increase in view of the government's Rs 111-trillion investment plan under the national infrastructure pipeline to develop social and economic infrastructure over five years.
'Both the Centre and the states cannot say that they have been taking good care of public health.'
What the INDIA alliance needs is neither a counter to Modi's tall personality and undiminished charisma nor a counter-narrative to his Hindutva agenda, now centred on the Ayodhya temple consecration on January 22, argues N Sathiya Moorthy.
State industries minister Uday Samant and party leader Ramdas Kadam gave information about the resolutions passed in the meeting.
Shah said a BJP government would protect and promote the cultural heritage and values of tribals.
The BJP government in the state violated the Indian Government Accounting Standard.
International Monetary Fund on Friday warned the Centre of high fiscal deficit that could come in the way of sustaining high growth in the economy, which clocked 8.4 per cent rise in the second quarter of 2003-04.
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.
States may face a GST compensation shortfall of Rs 3 lakh crore in the next financial year, a situation that will force them to borrow more from the markets, says a report. The states may face a shortfall of Rs 2.7-3 lakh crore as Goods and Services Tax (GST) compensation from the Centre next fiscal. Out of that amount, the shortfall from cess collections will be at Rs 1.6-2 lakh crore, according to an Icra report released on Monday. In FY21, the states were facing a shortfall of Rs 1.1 lakh crore in GST compensation from the Centre but over 90 per cent of that amount has been cleared now.
The Niti Aayog is preparing 15-year vision document that will replace the Five-Year Plan from the next financial year
The Twelfth Finance Commission on Monday warned that rising fiscal deficit of the Centre and the states at over 10 per cent of GDP in 2002-03 may have an "adverse" impact on debt, developmental expenditure and growth.\n\n\n\n
He also said that the focus will be on developing infrastructure in a big way and bring the state out of the debt trap if the BJP wins the assembly polls that are likely to be held in April-May this year.
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."
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.
'Within a short span, it increased attendance, improved children's physical fitness, and led to a rise in the enrolment ratio.'
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 report said Zuma 'would do anything that the Guptas wanted him to do for them,' including firing competent ministers and senior officials at parastatal institutions, so that Gupta lackeys could be appointed to those positions.
Politicians and Twitter warriors around the globe have a new buzzword among them: Net zero. Everyone appears to be keen to state their commitment to net zero, with India providing an outlay of Rs 35,000 crore to achieve energy transition and net-zero objectives in its Budget for FY24, even as the latest and final report by the United Nations' Intergovernmental Panel on Climate Change (IPCC) warned that current efforts are not enough to curb global warming. A number of small factory owners and businesses, however, have pointed out that the transition to net-zero emissions will cost them hugely.
He will be the first bureaucrat to head the central bank in almost five years.
The Supreme Court on Friday asked the Army to put its "house in order", saying that it feels that it has not been "fair" to the women officers who have alleged delay in promotions after being granted permanent commission on the directions of the top court in 2020.
Assembly Speaker M Appavu said leaders of the two AIADMK factions submitted him 6 letters, including 4 from Palaniswami, asking for separate seating arrangement in the Assembly for their respective members.
Of the total cash outgo Rs 40,000 crore is towards enhanced expenditure under Mahatma Gandhi National Rural Employment Guarantee Program and Rs 33,771.48 crore have been sought for direct benefit transfer under Pradhan Mantri Jan Dhan Yojana and National Social Assistance Programme.
'Politics is a game of public perception and my father felt that by his long disappearances, Rahul Gandhi was losing the battle of perception.'
She said Prime Minister Narendra Modi has received the highest civilian awards from 13 countries, including six with predominantly Muslim population.
