'This government is not in the hands of M K Stalin but in the hands of the bureaucracy -- the IAS and IPS.'
For every rupee in the government coffer, 58 paise will come from direct and indirect taxes, 35 paise from borrowings and other liabilities, 5 paise from non-tax revenue like disinvestment and 2 paise from non-debt capital receipts, according to the Budget documents for 2022-23. According to the Union Budget 2022-23 presented in Parliament by Finance Minister Nirmala Sitharaman on Tuesday, goods and services tax will contribute 16 paise in every rupee revenue, while corporation tax will contribute 15 paise to each rupee earned. The government is also looking to earn 7 paise for every rupee from Union excise duty and 5 paise from customs duty. Income tax will yield 15 paise to every rupee collection.
Nationalist Congress Party leader and Maharashtra Deputy Chief Minister Ajit Pawar on Saturday didn't join his cabinet colleagues Devendra Fadnavis and Chief Minister Eknath Shinde in visiting the Nagpur-based memorial of the Rashtriya Swayamsevak Sangh founder.
'Some of the astounding proposals, if translated into statutory provisions, would be suicidal.' 'This would not be a wonder cure for increasing insurance penetration and only result in mushrooming growth of players like paan kiosks with deleterious consequences.'
The commission said enforcement authorities have seized Rs 4,650 crore even before polling begins for the Lok Sabha elections and it is the "higher than total seizures" made in the 2019 polls
From the Sensex pack, Adani Ports & Special Economic Zones, Mahindra & Mahindra, Reliance Industries, HDFC Bank, Larsen & Toubro, NTPC, State Bank of India, UltraTech Cement and Kotak Mahindra Bank were the major gainers. In contrast, Tata Steel, Titan, Bajaj Finserv, JSW Steel, Bajaj Finance, Hindustan Unilever, ITC, Tata Motors and Tata Consultancy Services were among the laggards.
Tamil Nadu chief minister M Karunanidhi said on Thursday that 'performing states' like Tamil Nadu have not been receiving their 'due share' from successive finance commissions, who, he alleged, gave more importance to backward states. He called for more allocation to the state from the Central Relief Fund, "considering the natural calamities," the compensation for which, especially crop loss, needed to be substantially increased.
An average voter turnout of 20 per cent was recorded in the first four hours of voting in the bypolls to 15 assembly seats spread across Uttar Pradesh, Punjab, Kerala and Uttarakhand on Wednesday amid an incident of stone pelting in a village in UP's Meerapur and allegations of police personnel deterring voters from casting their ballot.
Why did the political system in the country react to these two decisions of the Modi government in a diametrically opposite manner? asks A K Bhattacharya.
Megha Engineering had emerged as the second-biggest buyer of electoral bonds and donated the highest amount of about Rs 586 crore to the Bharatiya Janata Party, according to the data released by the Election Commission on March 21.
Former CAG Rajiv Mehrishi says Centre has held back a report he submitted to the President, to end what he called "a nightmare of accounts that militates against good governance".
An increase in the farmer income support scheme PM Kisan Nidhi, the introduction of a 'robot tax' to fund reskilling of people who lose their jobs to artificial intelligence (AI), and a reduced income-tax (I-T) to bring relief to the middle classes - these are some of the items in the Budget wish list submitted by Sangh Parivar affiliates to Finance Minister (FM) Nirmala Sitharaman. Representatives of the affiliates of the Rashtriya Swayamsevak Sangh (RSS), such as the farmer organisation Bharatiya Kisan Sangh (BKS); trade union Bharatiya Mazdoor Sangh (BMS); Laghu Udyog Bharati, which works for micro and small industries; and Swadeshi Jagran Manch (SJM), which works on economic and policy issues, met the FM and other officials over the last couple of weeks as part of the pre-Budget consultations.
'Money power was deployed like an army in a war.' 'None of the MVA parties had that kind of money.'
There are justifiable concerns that, if all financial allocation powers are now shifted to the finance ministry, then the end of the Commission might be counter-productive -- states' needs could, in fact, be addressed less.
A high-level committee to explore the feasibility of conducting simultaneous elections, headed by former president Ram Nath Kovind, held its first meeting in New Delhi on Saturday and decided to invite political parties and the Law Commission to seek their views on holding synchronised polls in the country, a statement said.
No limit exists on the number of electoral bonds that a person (including corporate entities) can purchase.
Economic stagnation is the advance payment for polarisation, which extracts a terrible price.
According to the Election Commission of India, the code has evolved over the last 60 years to assume its present form.
The states have outstanding liabilities of a whopping Rs 59,89,360 crore as on March 31, 2021, and the new sources of risk have emerged in the form of rising expenditure on non-merit freebies, the Supreme Court was told on Thursday by a PIL petitioner opposing irrational handouts.
The first Karnataka legislative assembly session, after the formation of the new government will be held on starting Monday next week in Bengaluru.
A stern articulator with outspoken views and a dignified personality, Sitharaman now bears the responsibility of steering the economy which has witnessed sluggish growth in recent quarters.
There are a number of steps taken that will leave more money in the hands of the taxpayers.
These include the reduction in tax rates under the new tax regime, increase in standard deduction, allowing tax collected at source to be adjusted against tax deducted at source from salaries, notes Harsh Roongta.
The Indian National Developmental Inclusive Alliance (INDIA) gave a huge blow to the ruling Bharatiya Janata Party-led National Democratic Alliance by winning 43 seats out of total 80 Lok Sabha seats of Uttar Pradesh, as per the Election Commission.
Feature for feature, bank FDs are indeed better than debt funds today, mainly thanks to Ms Sitharaman, notes Debashis Basu.
The government, it would seem, is reserving its firepower to spend on big-ticket items that will be announced in the Budget, reports Subhomoy Bhattacharjee.
Eminent economist Montek Singh Ahluwalia was on Wednesday appointed deputy chairman of the Planning Commission.
Whether she will pare the fiscal deficit target of 5.1 per cent of GDP, using the record dividend received from the RBI, or expand flagship government programmes will be keenly watched.
'This victory would mean a huge inspiration for the next generation who can say that coming from India I can be anybody I want to be if I work hard and acquire the right skills.' 'They could be the next President, members of the Senate, or another Sundar Pichai.'
Sir Osborne Smith was the first governor of the Reserve Bank, serving from April 1, 1935, to June 30, 1937.
Amid a debate on the freebies, the Election Commission on Tuesday proposed amending the model code to ask political parties to provide authentic information to voters on the financial viability of their poll promises.
These are the top buyers of the scrapped electoral bonds, the data for which was released by the Election Commission on Thursday.
The TIME 100 AI list is an interesting assortment of titans. Indians make up about 20 per cent of the coveted list, which is pretty commendable, notes Sandeep Goyal.
Union Finance Minister Nirmala Sitharaman on Monday said GST compensation to some states is delayed due to non-availability of AG's authenticated certificate, and that Kerala has not sent even a single such certificate since 2017-18. Replying to a supplementary question, she also said that Rs 86,912 crore has been released for the Goods and Services Tax (GST) compensation payable to all states up to May 31, 2022. She said as per law, GST Council decides to whom the GST compensation is to be released, not by the central government.
Users should be aware of "fake emails" sent in the garb of a government e-notice, said the Indian Cyber Crime Coordination Centre (I4C) in a public advertisement.
'Individuals have been found providing money to major terrorist groups, Hurriyat leaders, separatists and stone-pelters in Jammu and Kashmir.'
The time is ripe for debate on city governments in India.
Under the Commission proposal, Greece would get the whole 7 billion in one go
Finance firms in these SEZs likely to get tax breaks.
Amid the opposition UDF's sloganeering against him, Kerala Governor Arif Mohammed Khan on Friday delivered the customary address to the assembly with the policy document outlining the Left government's administrative achievements and criticising the Centre for allegedly pushing the state to financial constraints by reducing its resource allocations.
