The 13th Finance Commission had last year set a capital expenditure-to-GDP target of 4.5 per cent by FY15.
Pragmatism and flexibility is a virtue. An untethered and short-term approach to policymaking is a flaw, argues Mihir S Sharma.
The final rate will be worked out by the GST Council, Finance Minister Arun Jaitley said on Wednesday.
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.
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.
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.
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.
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.
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.
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.
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.
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.
Greenwashing is making misleading or false environment-friendly claims about a product. Consumers in India currently do not have any way of telling whether a claim is authentic or greenwashing. And one never hears of action against any company for making false claims of being environment-friendly.
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.
Ramesh Menon, the veteran journalist suggests Prime Minister Narendra Damodardas Modi what he should do if he wants to win 2024 Lok Sabha elections.
Revenue buoyancy of GST will be key to improve the resource position of both central and state governments.
Minister of state for personnel Jitendra Singh said it is a major step to place the right talent for the right role.
The judge said the prosecution failed to prove that the accused were members of a terrorist organisation.
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.
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.
Chief ministers of states like Andhra Pradesh, Kerala and Karnataka were among those who raised the issue of loan waver scheme for farmers.
'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.'
'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.
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.
Sitharaman also said the government is also working on a national language translation initiative.
'The message is not clear whether we are wanted.' 'All this could adversely impact our strategy in India and also investments.'
States' demand for 5 years and Constitutional provision ruled out
'Growth is predicated on the misery of large sections of people.' 'Maybe Hindutva will be used to suppress any such unrest.'
'By design or default, the BJP's election strategy militated against the very essence of Karnataka politics and the idea of Karnataka.'
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.
Old ideas contained in the heads of old economists still dominate. That's not good, asserts T C A Srinivasa Raghavan.
'The politics that is now being played in Punjab doesn't contribute towards peace and tranquillity.'
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.
'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.'
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.
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.
Being mandatory, these recommendations will have to be immediately built into the Budget for 2015-16.
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.
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.
