There will be a dramatic alteration in the role the Centre and the states will play to shape India's fiscal and economic destiny, report Nitin Sethi and Ishan Bakshi.
'If because of El Nino, the monsoon is affected adversely in the current year, naturally it will affect income projections and consequently Budget numbers.'
The TDP chief said he tried to speak to Prime Minister Narendra Modi as a 'courtesy' to inform him about the decision to quit but he did not come on line.
The commission in its recent assessment of the economy also expects economic growth to go up to nine per cent in 2011-12, and further to 10 per cent in 2014-15.
Ahead of the Karnataka assembly elections, the government on Friday approved the issuance of the 26th tranche of electoral bonds that will open for sale on April 3.
FinMin does not expect tax or non-tax revenue to reach anywhere close to the targets set in the interim Budget. Sources say that the challenge before the new government will be either to accept the reduced projection and tailor the Budget accordingly or set a more ambitious target.
Prime Minister Narendra Modi's idea of cooperative federalism is expected to be on display in the 2015-16 Budget.
Prabhu hoped that during this 3-4 years period, railways would be able to absorb the impact from their resources
The government has extended the term of Reserve Bank of India Governor Shaktikanta Das by another three years upto December 2024, according to an official order.
The country's new home minister, Palaniappan Chidambaram, today said he prefers a Congressman as his successor in the finance ministry, setting off speculation about the implication of his statement.
While five resident doctors of Hindu Rao Hospital had been sitting on a relay hunger strike since Friday, the senior doctors of the North Corporation-run facilities had gone on an indefinite strike on Tuesday. Their associations had joined hands in solidarity since Tuesday.
"Shouldn't they get Indian citizenship? Shouldn't their human rights be protected?" Shah asked the audience which responded with a resounding "yes".
The Supreme Court of India on Wednesday said the problem with electoral bonds scheme is that it provides for "selective anonymity" and "selective confidentiality" as the details are available with the State Bank of India (SBI) and can also be accessed by the law enforcement agencies.
'The CEA suggested that could be as high as 19 per cent.'
The Aam Aadmi Party on Sunday raised questions on the genuineness of Prime Minister Narendra Modi's degrees and claimed that they would turn out to be fake if a probe is conducted.
The government on Monday made it clear that it does not propose to tinker with the existing mechanism of setting up Pay Commission for revision of wages for central government employees
'We wanted the PM to speak, and he just refused to -- now we have the opportunity, not just in the Lok Sabha, but also in the Rajya Sabha, to lay the government on the mat.'
The Supreme Court Monday said no state should deny the ex-gratia compensation of Rs 50,000, as recommended by National Disaster Management Authority (NDMA), to the kin of persons who died of COVID-19 on the sole ground that death certificate does not mention it as the cause of death.
'Politics is a game of public perception and my father felt that by his long disappearances, Rahul Gandhi was losing the battle of perception.'
The CrPC (Identification) Bill empowers the police to obtain physical and biological samples of convicts and those accused of crimes while the DMC (Amendment) Bill, 2022 seeks to unify the three civic bodies in the national capital.
The collection from borrowings and other liabilities will be 20 paise, while income tax will yield 17 paise to every rupee collection.
CM Stalin has a procedural problem. Nominating new ministers would entail his having to seek formal permission from governor R N Ravi. Stalin does not want to interact with the person of this governor, as far as possible, predicts N Sathiya Moorthy.
Expelled AIADMK leader Sasikala has said that she is ready to face all enquiries against her over the death of former Tamil Nadu chief minister Jayalalithaa.
The Supreme Court on Wednesday said there must be a "debate" on the "serious" issue relating to the practice of political parties promising freebies and asked why cannot the Centre call for an all-party meeting on it.
The Supreme Court on Tuesday upheld the validity of two central laws and the corresponding rules that provide for a maximum tenure of five years for the directors of the CBI and Enforcement Directorate.
The Adani group has exited the financial services business by selling its entire 90 per cent stake in Adani Capital and Adani Housing to private equity (PE) firm Bain Capital for Rs 1,440 crore. The total valuation of the Adani financial services business stands at Rs 1,600 crore. Gaurav Gupta, managing director (MD) and chief executive officer (CEO) of the Adani firms will hold the rest of the stake.
The demand for extension of the GST cess regime among others was made by several state finance ministers at a pre-budget consultation called by Union Finance Minister Nirmala Sitharaman in New Delhi. Besides, many states also demanded raising the share of the Union government in the Centrally Sponsored Schemes (CSS). Currently, the central government and state government share in some CSS is 60:40 while in others it is 75:25.
'Even before the outbreak of the flu, it had become clear that the tax revenue numbers for 2019-2020 were overestimated,' observes A K Bhattacharya.
Pakistan was put in the inglorious list in 2018 for its failure to check risk of money laundering, leading to corruption and terror financing.
The investor education and protection fund authority (IEPFA) has reached out to top hundred companies to reduce the documentation required for individuals trying to claim their shares, according to a senior government official. Recently, the Supreme Court-appointed expert panel on the Adani-Hindenburg case had raised issues such as capacity constraints faced by IEPFA in clearing these claims which are over Rs 5,000 crore. "Our immediate priority is to ensure that claims of those investors whose application was approved a year ago but the transfer has not gone through yet are settled first.
Banks do extensive investigation before declaring an account fraud; they owe it to us as they deal with our money. Why would they try to fix an innocent borrower? asks Tamal Bandyopadhyay.
The top court drew parallel between driving and technology and said if one doesn't know how to handle technology then he or she can't be a judge and questioned the approach of some of the high courts.
The 61-year-old MLA from Islampur seat of Maharashtra has been asked to depose before the federal agency in Mumbai on Friday, they said. Patil, a former minister of home and finance, is also the Maharashtra president of the NCP and is a seven-term legislator.
State governments want the Centre to direct the 14th Finance Commission to compensate states for implementing pay scales, to be recommended by the pay panel.
Internet major Google has appointed former joint secretary at Niti Aayog Archana Gulati as head of public policy in India. A Google spokesperson confirmed the appointment. Messages sent to Gulati elicited no immediate reply. Gulati was looking after digital communications policy matters at the government think tank and took voluntary retirement in April last year.
In view of the severe drought and growing prices of essential commodities, Prime Minister Manmohan Singh has constituted a crisis management group of Ministers (GoM) for monitoring the situation on a day-to-day basis.
The total salary and pension bill of the central government, which will also include Railway employees, will go up from estimated Rs 4.33 lakh crore to Rs 5.35 lakh crore during 2016-17
In a significant development, India is believed to have placed a funding request of around $55 million in its first call with the Pandemic Fund of the World Bank, sources said. The fund has been set up to finance critical investments in a bid to strengthen pandemic prevention, preparedness, and response capacities at national, regional, and global levels, with a focus on low- and middle-income countries. It was created in the aftermath of the Covid-19 global pandemic.
In an interview with Business Standard's Sapna Dogra Singh and John Samuel Raja D, C Rangarajan says there are some encouraging signs in the economy, but the real recovery will come only in 2010-11.
This form of government, where secrets and major decisions are kept from the Cabinet itself, appears to be continuing, which is why the speculation around this special session, asserts Aakar Patel.
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