India opened up its economy to the private sector in 1991.
Dearness Allowance for central government employees has been hiked to 31 per cent of the basic pay from 28 per cent with effect from July 1, 2021, the Finance Ministry said. In an office memorandum, the Department of Expenditure, under the Finance Ministry, said the term 'basic pay' means the pay drawn as per the 7th pay commission matrix and does not include any other type of pay like special pay, etc. "....the Dearness Allowance payable to central government employees shall be enhanced from the existing rate of 28 per cent to 31 per cent of the basic pay with effect from July 1, 2021," said the office memorandum dated October 25.
India will either have to create a system in which certain geographical areas will wind up being permanent political outsiders at the Union level or it will have to create a system in which certain votes are weighted more heavily than others, observes Mihir S Sharma.
Congress leader Adhir Ranjan Chowdhury's 'rashtrapatni' remark snowballed into a major political row on Thursday with the Bharatiya Janata Party accusing the opposition party of insulting President Droupadi Murmu and demanding that Congress chief Sonia Gandhi should apologise to the nation.
Shah also attacked the Congress and said "the party was finished in the country due to corruption and family rule."
'By design or default, the BJP's election strategy militated against the very essence of Karnataka politics and the idea of Karnataka.'
Pragmatism and flexibility is a virtue. An untethered and short-term approach to policymaking is a flaw, argues Mihir S Sharma.
These self-appointed well-wishers of AMU are basically for the control or police model of university governance. They have no faith whatsoever in the democratic functioning of the universities, observes Faizan Mustafa, former dean, Faculty of Law, and Registrar, Aligarh Muslim University.
Data on the new series given by a panel on real sector statistics shows that GDP grew by 10.23 per cent in 2007-08 and 10.78 per cent in 2010-11. There are some years for which the new figures show a deceleration in growth as well. The new series has 2011-12 as the base year while the earlier series had 2004-05 and 1993-94.
Bimal Jalan, has recommended to the government that it cut fiscal deficit to 3.6 per cent of the GDP during 2015-16.
Deficits could come under more pressure in coming years as states implement their own Pay Commissions.
'The message is not clear whether we are wanted.' 'All this could adversely impact our strategy in India and also investments.'
'The politics that is now being played in Punjab doesn't contribute towards peace and tranquillity.'
The PDP led by former chief minister Mehbooba Mufti has decided to stay away from the delimitation process, saying the body lacks 'constitutional and legal mandate' and is part of the overall process of political disempowerment of people of Jammu and Kashmir.
Ramesh Menon, the veteran journalist suggests Prime Minister Narendra Damodardas Modi what he should do if he wants to win 2024 Lok Sabha elections.
The judge said the prosecution failed to prove that the accused were members of a terrorist organisation.
The BJP's relations with some alliance partners, including its oldest ally the Shiv Sena, Nitish Kumar's Janata Dal-United, Akali Dal and Rashtriya Lok Samta Party of Union minister Upendra Kushwaha, have been somewhat tense, and Shah's comments are being seen as an attempt to smooth their ruffled feathers.
Maharashtra Chief Minister Uddhav Thackeray met Prime Minister Narendra Modi on Tuesday and discussed issues related to the Maratha reservation, pending GST compensation and the proposed Metro car shed in Kanjur.
'Narasimha Rao asked me why China was doing so well in attracting foreign investments and I gave my frank opinion.' 'I told him that giving thrust to exports had to be a national effort.' 'But in India, the system was very centralised in the Government of India and the state governments had no role to play.'
Minister of state for personnel Jitendra Singh said it is a major step to place the right talent for the right role.
This month, advertisements for managing directors and the senior management team for the National Bank for Financing Infrastructure and Development or NaBFID, should be out, signalling the start of a financial institution (FI) like no other the country has ever had. For this and other reasons government managers associated with the NaBFID project are convinced it should remain a 100 per cent government-owned entity. This is somewhat different from what former economic affairs secretary Tarun Bajaj said when the NaBFID Bill was being tabled in Parliament earlier this year: "To begin with, it will be 100 per cent government owned.
Addressing a massive public rally to celebrate the signing of the accord on January 27 that is expected to bring lasting peace to the troubled state, Modi said now the time was to work together for peace and development of the North-East.
'Looking at the speed at which changes were made post the Franklin Templeton issue, we are awaiting more stricter norms in the months to come.'
A bench comprising Chief Justice of India DY Chandrachud and Justice PS Narasimha said the petitions raise three separate issues and hence, the need to hear them separately.
Finance Minister Arun Jaitley more than halved the central government's financial support.
There are lessons for the Congress to learn from the Karnataka elections of how burying the hatchet among top leaders and not washing dirty linen in public can help, says Ramesh Menon.
Old ideas contained in the heads of old economists still dominate. That's not good, asserts T C A Srinivasa Raghavan.
A well-functioning GST will enhance tax compliance and boost growth: IMF
'The BJP's defining character is Hindutva. The party's political strategy is based on a combination of Hindutva+Development.'
The final rate will be worked out by the GST Council, Finance Minister Arun Jaitley said on Wednesday.
State Higher and Technical Education Minister Chandrakant Patil also said that the government will introduce four-year degree courses from June 2023 as mandated under the National Education Policy and the universities will have to implement the decision.
The 13th Finance Commission had last year set a capital expenditure-to-GDP target of 4.5 per cent by FY15.
There were reports that some Commission officials were against the Rajan panel's suggestion to replace Gadgil- Mukherjee formula with Rajan Committee's Multi Dimensial Index for allocation funds to states.
Assam Chief Minister Tarun Gogoi on Monday took on Narendra Modi today saying that the Bharatiya Janata Party's prime ministerial candidate was 'irresponsible' and had made 'wrong statements' at his rally two days ago.
The FRBM report, to be submitted on Tuesday, is likely to have 'excuse clauses', absolving the government of meeting its fiscal commitments under certain conditions such as war or conflict, global economic meltdowns or natural disasters.
Rajasthan Chief Minister Ashok Gehlot, state Bharatiya Janata Party chief Vasundhara Raje and Pradesh Congress Committee president Chandrabhan were among 861 candidates who filed their nomination papers for the Assembly elections on Monday.
Assam chief minister Tarun Gogoi has stated that backward state of Assam and the Northeast region as a while need more fund from the Centre instead of frequent visits of Union ministers, a new and unprecedented trend since Independence.
Sitharaman also said the government is also working on a national language translation initiative.
Among the states due for election next year are AP, Haryana and Odisha, which have a fair share of agri credit. If these states individually announced debt relief, the combined waiver would be at least around Rs 600 bn to Rs 700 bn. Clearly, this will be a frightening challenge for Indian banks.
Revenue buoyancy of GST will be key to improve the resource position of both central and state governments.
