The government on Thursday decided to ask the 13th Finance Commission to map the road for achieving fiscal deficit targets by including off-budget subsidies like oil, food and fertiliser bonds estimated at over Rs 100,000 crore (Rs 1,000 billion) in the Budget.
On the present government's 'Make in India' campaign, C Rangarajan, former chairman of the Prime Minister's Economic Advisory Council, says it is important to first ask for whom it is being made.
Indian-American filmmaker Dinesh D'Souza, who had made a documentary on US President Barack Obama, has been indicted on charges of violating federal campaign finance laws.
Reliance Industries Ltd on Friday reported a 15 per cent drop in its net profit to Rs 15,792 crore for the third quarter, according to a company's stock exchange filing. The net profit of Rs 15,792 crore in October-December 2022 compares to Rs 18,549 crore a year back.
'After the creation of Telangana, Andhra Pradesh has been left as an agrarian state.' 'Therefore, the special category status to this residual state was imminent and necessary for its development,' YSR Congress MP V Vijayasai Reddy explained in the Rajya Sabha.
Other decisions piled up include rationalisation of GST rate slabs, correction of inverted duty on certain items and inclusion of petroleum products.
Voting came to an end for the Karnataka assembly elections on Wednesday at 6 pm with data showing a voter turnout of 65.69 per cent an hour ago.
Speaking after interacting with gram panchayats and pani samitis/village water and sanitation committees (VWSC) on the Jal Jeevan Mission, Modi said the mission is not just about bringing water to people but it is also a decentralisation movement that is village and women-driven.
The Indian startup ecosystem, which defied odds during a pandemic-hit year to create record 12 unicorns, has the potential to be the engine of growth in the medium to long run, according to the Economic Survey 2020-21. The survey noted that startups are the platform for entrepreneurs who have the ability to think out of the box and innovate to conceive products that can create a niche for themselves in a dynamically changing world.
'There is a misconception that the Centre gives money for the development of Delhi'
The submissions were made by the CBI in a short written reply while opposing the senior Aam Aadmi Party leader's bail plea, which it said was devoid of any merit and was an attempt to misuse the intricacies of law to thwart the progress of investigation in the case.
The government has made several region-wise and sector-wise allocations in its annual plan and budget proposals.
The report said Zuma 'would do anything that the Guptas wanted him to do for them,' including firing competent ministers and senior officials at parastatal institutions, so that Gupta lackeys could be appointed to those positions.
Maharashtra Nationalist Congress Party (NCP) president Jayant Patil appeared before the Enforcement Directorate (ED) in Mumbai on Monday in a money laundering case linked to alleged financial irregularities in the now bankrupt financial services firm Infrastructure Leasing and Financial Services Limited (IL&FS), an official said.
Experts have flagged issues regarding the levying of new cess/tax, especially those related to complications in administering the cess.
Union Finance Minister Nirmala Sitharaman, Congress' chief spokesperson Randeep Surjewala and senior leader Jairam Ramesh were among the 10 candidates elected to the Rajya Sabha on Friday from Karnataka, Rajasthan and Haryana, while counting was underway in Maharashtra after an eight-hour delay due to wrangling by rival parties over alleged breach of voting rules.
The remarks by Naidu in his last address as the country's Vice President came even as Telangana's ruling Telangana Rashtra Samithi RS said the welfare of poorer sections of society is not a freebie and that welfare measures taken by governments should continue.
The panel, to be headed by Reserve Bank of India Deputy Governor Shymala Gopinath, will review the structure of the National Small Savings Fund and give recommendations on making schemes more flexible and market-linked.
The government should speed up the disinvestment process to generate funds for meeting the new needs such as environment protection, 13th Finance Commission chairman Vijay Kelkar said.
Participants are keenly awaiting the rollovers to the next series ahead of the expiry of June F&O.
The National Company Law Tribunal's (NCLT's) declaration that Zee Entertainment is bankrupt adds a new measure of uncertainty to the proposed merger with Sony. Three entities -- Aditya Birla Finance, IndusInd Bank and YES Bank -- have filed appeals in the NCLT for recoveries of Rs 130 crore, Rs 90 crore and Rs 540 crore, respectively. The money was borrowed by a related party - Siti cable - and not returned. Zee was a corporate guarantor.
Assessment note says panel acts as control commission, especially in fund allocations to states.
Consumers are paying an exorbitant 180 per cent tax on petrol, and 140 per cent on diesel in Delhi and in most other towns in India. Little wonder then that the central government expects a staggering Rs 3.46 trillion by levying excise duties on retail sale of the two fuels this year, and Rs 3.2 trillion the next. States would generally have had reason to cheer, as they command a 41 per cent share in Centre's tax revenues. But as the Centre has raised excise duties in the form of "cess," the revenue proceeds are by nature not shareable with states.
Days after cutting the salaries and other allowances of MPs and ministers, the government has passed instructions to all departments to reduce their expenditure by as much as 60 per cent from their first-quarter spending plans.
Food prices have been relentlessly rising and was over 19 per cent year-on-year in the last week of November.
The Centre's revenue deficit is expected to go up by 0.75 per cent of the GDP this fiscal following the implementation of the 12th Finance Commission recommendations, RBI said.
There are over 1.36 lakh employees, including employees and pensioners under the new pension scheme.
Every option before the finance minister comes with a price tag, observes T N Ninan.
Kumar said the Commission will follow the time-tested methods of consultations and consensus building in bringing about any reforms and will not shy away from tough decisions, according to an Election Commission (EC) statement.
'He will go to any extent, and he will have the full support of the Union government as they may not like a Left government to continue here.'
Vodafone Idea's (Vi's) search for a lifeline has turned longer and tougher even as it continues to lose customers and delay vendor payments. Vi's much-needed Rs 1,600-crore fundraising plan got stuck due to the government's silence on picking up a proposed 33 per cent equity in the financially stressed telco. The development spells further trouble for the company, which has an overall debt pile of Rs 2.2 trillion, including hefty dues to the government.
"A solution has been put on the table. It is for Andhra Pradesh to decide whether they want the resources or they want to make an issue (out of it)," he said.
'If the FYUP is making the child employable, then we will have to ensure that learning on the job is integrated.' 'And also ensure that by the time they end FYUP they are completely employable.'
The Centre will take a hit of Rs 26,000 crore (Rs 260 billion) in 2005-06 by implementing the twelfth finance commission's proposal of a higher share of central taxes, grant and debt relief to states.
C Rangarajan, chairman, 12th Finance Commission, will head the committee, J&K Finance Minister Muzaffar Hussain Baig said in Srinagar.
'Both the Centre and the states cannot say that they have been taking good care of public health.'
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