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.
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.
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.
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.
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.
Modi's BJP has promised more revdis or freebies for these assembly elections than ever before, points out N Sathiya Moorthy.
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.
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.
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.
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.
Shah said a BJP government would protect and promote the cultural heritage and values of tribals.
Image used for representational purpose only. Photograph: Jayanta Dey/Reuters The Congress also said demonetisation has come a full circle and added that the Rs 2,000 note was a "band-aid to cover up the foolish decision of demonetising" Rs 500 and Rs 1,000 notes.
What some of our leaders were up to on Monday and Tuesday.
The BJP government in the state violated the Indian Government Accounting Standard.
'A political party taking the law into its hands is objectionable, especially in the context of the 2002 incidents in Gujarat.'
Nowadays, our politics is habituated to sitting on a high pedestal, hobnobbing with world leaders, generating impressions of a superpower and returning to earth for the purpose of winning elections. In contrast, the yatra never left earth, observes Shyam G Menon.
Union Finance Minister Nirmala Sitharaman, Congress' chief spokesperson Randeep Surjewala and senior leader Jairam Ramesh were among the 10 candidates elected to the Rajya Sabha on Friday from Karnataka, Rajasthan and Haryana, while counting was underway in Maharashtra after an eight-hour delay due to wrangling by rival parties over alleged breach of voting rules.
The Niti Aayog is preparing 15-year vision document that will replace the Five-Year Plan from the next financial year
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.
The Centre on Monday defended in the Supreme Court the third extension of service granted to Enforcement Directorate chief Sanjay Kumar Mishra, asserting it was due to a peer review being conducted by the Financial Action Task Force (FATF) this year and said he will retire this November.
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.
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
In 1937, a hydrogen-powered German airship flying into New Jersey caught fire and crashed, killing 35 passengers on board. It was sort of a man-made disaster as some 100 people were loaded on to a balloon filled with the most flammable material in the universe. The airship was named Hindenburg. Eight decades later, in 2017, a graduate of international business management from the University of Connecticut founded a "forensic financial research" firm to specialise in spotting wrongdoings and frauds, or what it calls man-made disasters, at companies around the globe and take market bets against them.
A homemaker in every family would get a monthly assistance of Rs 1,000, the manifesto said.
He will be the first bureaucrat to head the central bank in almost five years.
The remarks by Naidu in his last address as the country's Vice President came even as Telangana's ruling Telangana Rashtra Samithi RS said the welfare of poorer sections of society is not a freebie and that welfare measures taken by governments should continue.
His business successes which started with the international distribution rights for the Bollywood blockbuster movie 'Sangam' in 1964 made him one of the richest in Britain but it was the Bofors scam that made Srichand Parmanand Hinduja famous, or rather infamous, back home. SP Hinduja, as he was known, died in London on Wednesday after a prolonged illness. He was 87, a family spokesperson said. Born in a business family in Karachi, British India, he and his two younger brothers were accused of receiving payments totalling Rs 64 crore in illegal commissions to help Swedish gunmaker AB Bofors secure an Indian government contract.
IThe fiscal deficit target for 2020-2021 was originally set at 3.5 per cent of GDP. But the government's revenues have collapsed and its expenditure burden will only increase over the Budget estimates.' With the government having already planned for an additional borrowing of over Rs 4 trillion, the fiscal deficit for the current year would be much higher than the Budget estimate, notes A K Bhattacharya.
The 1984-batch IRS officer was otherwise to remain in office till November 18, 2023, according to the notification issued by the government.
Kumar said the Commission will follow the time-tested methods of consultations and consensus building in bringing about any reforms and will not shy away from tough decisions, according to an Election Commission (EC) statement.
Solicitor General Tushar Mehta, appearing for the Centre, assured the court that everything is under consideration.
Reliance Industries Ltd on Friday reported a 15 per cent drop in its net profit to Rs 15,792 crore for the third quarter, according to a company's stock exchange filing. The net profit of Rs 15,792 crore in October-December 2022 compares to Rs 18,549 crore a year back.
Pakistan has been on the grey list of the Paris-based Financial Action Task Force since June 2018 for failing to check money laundering, leading to terror financing, and was given a plan of action to complete it by October 2019.
The 3 per cent target would now to reached a year later.
India's historical focus on its continental borders has overshadowed its maritime ambitions, but that is changing quickly, notes Ajai Shukla.
