Bimal Jalan, has recommended to the government that it cut fiscal deficit to 3.6 per cent of the GDP during 2015-16.
"The very fact that Pandit Jawaharlal Nehru believed that democracy has made revolution superfluous after independence and how it meant the complete opposite of a bloodless change," it said.
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.
'Very soon you will hear the news of two more MLAs from Uddhavji's side joining our camp.' 'And once the Supreme Court verdict comes out, there will be a waterfall.'
Sitharaman also said the government is also working on a national language translation initiative.
Several loyal party old guards were unhappy and had expressed their displeasure openly about "migrants" scuttling the chances of them becoming ministers.
'Let us hope that this Budget delivers.' 'It needs 10 per cent plus real GDP growth in 2021-22, the rebound year,' notes Omkar Goswami.
Pakistan will remain on the 'grey list' of the Financial Action Task Force (FATF) until it further demonstrates that action is being taken against Jamaat-ud-Dawah chief Hafiz Saeed and Jaish-e-Mohammed founder Masood Azhar who are listed as global terrorists by the United Nations, the global anti-money laundering and terror financing watchdog said on Thursday.
Kremlin spokesman Dmitry Peskov briefly admitted that Russia had suffered a 'significant' loss of its troops in Ukraine, calling the casualties 'a huge tragedy' for the country in an interview with Sky News.
Prime Minister Narendra Modi on Friday reviewed the post-cyclone situation and damages caused by Cyclone Yaas in the state at a meeting in Bhubaneswar where Odisha government demanded long term solutions to mitigate problems of repeated cyclones and provision of disaster resilient power systems.
The most immediate challenge for growth is the disruption of the global economy brought about by the Ukraine war and related sanctions, the Covid shutdowns in China and the rising tide of inflation, points out Nitin Desai.
Finance Minister Arun Jaitley more than halved the central government's financial support.
A well-functioning GST will enhance tax compliance and boost growth: IMF
Revenue buoyancy of GST will be key to improve the resource position of both central and state governments.
Debt-ridden mortgage firm DHFL's shares would be delisted from stock exchanges post acquisition by Piramal Capital and Housing Finance, which has emerged as the successful bidder for the company. As part of resolution process under the Insolvency and Bankruptcy Code (IBC), lenders led by Union Bank of India in January this year favoured the bid by Piramal Capital and Housing Finance to take over the beleaguered housing finance firm. According to sources, shares of DHFL would be delisted post acquisition as per the IBC guidelines and Sebi delisting norms.
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.
In fact, no other recent Union Budget has held so much significance for the Indian economy as the one to be presented in about six weeks from now, notes A K Bhattacharya.
Jaishankar, who presided over the UNSC Briefing: Global Counterterrorism Approach: Challenges and Way Forward, described terrorism as an existential threat to international peace and security and said it knows no borders, nationality, or race.
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.
The final rate will be worked out by the GST Council, Finance Minister Arun Jaitley said on Wednesday.
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.
Finance Minister Nirmala Sitharaman on Tuesday proposed enhancing the funding under the PLI scheme for domestic solar cells and module manufacturing to Rs 24,000 crore from the existing Rs 4,500 crore to make India an exporting nation. "For facilitating domestic manufacturing for the ambitious goal of 280GW of installed solar capacity by 2030, an additional allocation of Rs 19,500 crore for PLI scheme for manufacturing of high efficiency (solar) modules with priority of fully integrate manufacturing units for polysilicon to solar PV modules will be made," Sitharaman said in her Budget speech in the Lok Sabha. In April 2021, the Union Cabinet approved a Rs 4,500 crore production linked incentive (PLI) scheme to boost domestic manufacturing capacity of solar PV modules.
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.
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.
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.
The DMK leadership may now have to deal with a demand for more seats from its Congress ally in the Lok Sabha polls, predicts N Sathiya Moorthy.
Advising judiciary to avoid "perception-driven" verdicts, Prime Minister Narendra Modi on Sunday said it should have an internal mechanism of "self-assessment" as judges are considered "divine" and seldom face any criticism unlike the political class.
As many as 483 infrastructure projects, each worth Rs 150 crore or more, have been hit by cost overruns totalling more than Rs 4.43 lakh crore, according to a report. The Ministry of Statistics and Programme Implementation monitors infrastructure projects worth Rs 150 crore and above. Of the 1,781 such projects, 483 reported cost overruns and 504 were delayed.
Testimony presented before the Bhima Korgaon Commission over the last two months reveals the background to the violence that broke out on January 1, 2018.
The Supreme Court on Wednesday directed the National Disaster Management Authority (NDMA) to issue fresh guidelines for providing minimum standards of financial help to families of those who lost their lives to COVID-19.
According to poll observers, there are about 3.88 lakh voters in Rampur assembly constituency and of them, about 2.27 lakh, about 60 per cent, are Muslims.
Maharashtra deputy Chief Minister Devendra Fadnavis, who also holds the energy portfolio, held a meeting with trade union representatives and later said the government had no intention to privatise state-run power utilities.
Chief ministers of states like Andhra Pradesh, Kerala and Karnataka were among those who raised the issue of loan waver scheme for farmers.
The Financial Action Task Force (FATF) on Friday retained Pakistan on its 'grey list' for failing to check money laundering, leading to terror financing, and asked Islamabad to investigate and prosecute senior leaders and commanders of United Nations-designated terror groups, including Hafiz Saeed and Masood Azhar.
The Kerala government on Friday decided to recommend a judicial inquiry against central probe agencies, including the Enforcement Directorate, which are investigating the gold and dollar smuggling cases.
Manchester United is one of the most famous names in world soccer but is currently in crisis
Excluding the pension outgo, the allocation in the Union Budget for the armed forces stands at Rs 3.62 lakh crore.
Finance Minister Nirmala Sitharaman announced on Monday a record sum of Rs 1.10 lakh crore for the Railways, out of which Rs 1.07 lakh crore is for capital expenditure, and said the national transporter would monetise the dedicated freight corridors after its commissioning. Presenting the Union Budget 2021-22, Sitharaman also applauded the services provided by the Railways to transport essential goods across the country during the coronavirus lockdown.
People like Manmohan Singh and P Chidambaram, who as finance minister had fully supported the NPS, refuse to exercise their moral and political influence to try and stop Ashok Gehlot and others hell-bent on wrecking the states' finances, notes Virendra Kapoor.
