Total pending Customs arrears, including amounts under litigation, court stays and cases where the appeal period has not expired, stood at about Rs 1.36 trillion at the end of December 2024.
'The preparedness of our defence forces and positioning of intelligence assets were very different in 2008, so we had to rebuild our assets and preparedness.'
Participatory notes are instruments through which foreign investors trade in the country's equity and debt markets.
'LIC's investment decisions are taken independently, following strict due diligence, risk assessment and fiduciary compliance.'
CAG warns most states of fiscal imprudence as March spending overshoots limits, with key departments exhausting large portions of budgets in the last month of FY24.
The best course for the government at this time would be to tighten the seat belt a little more, without compromising on its investments in creating better infrastructure and giving a push to privatisation, points out A K Bhattacharya.
A 500 per cent tariff would effectively shut out India's goods and services exports to the US.
'Grassroots-level corruption, which disrupts the last-mile work, cannot be ignored in your enthusiasm and drive to get going to complete the project.' 'Like it was in MGNREGA, in some states, it is the case with the Jal Jeevan mission.' 'The last minute levels of corruption can ruin the intent of the project itself.' 'When you see that people can game a particular well-intended and well-crafted project, you need to correct that.'
The latest annual report of the finance ministry has disclosed that the agency funded seven projects worth USD 750 million in 2023-24.
The Federation of Indian Chambers of Commerce and Industry (Ficci) has sought urgent steps to clear the huge backlog of income-tax appeals, simplify tax deducted at source (TDS) compliance, and ensure tax neutrality for fast-track demergers, during its consultation with Revenue Secretary Arvind Shrivastava ahead of the Union Budget 2026-27.
The International Monetary Fund chief economist-designate Raghuram Rajan feels big deficits -- whether India's fiscal deficit or the United States' current account deficit -- are not sustainable in the long term.
While 28,141 applicants accepted internship in round one, in the second phase this was down to 24,638.
The change in the government's engagement with the economy's need for reforms is more nuanced than how analysts have so far perceived it, points out A K Bhattacharya.
A Delhi Police SWAT commando died after allegedly being brutally assaulted by her husband, who reportedly announced the killing during a phone call with the victim's brother. The family alleges prolonged torture and dowry harassment.
CPGRAMS -- an online platform available to citizens 24x7 to lodge their grievances to public authorities on service delivery -- has existed for close to two decades. But it has never been this active, points out Tamal Bandyopadhyay.
The largest tranche came in July, in the wake of Operation Sindoor, with the DAC according acceptance of necessity -- or initial approval -- for 10 capital acquisition proposals amounting to approximately 1.05 trillion through indigenous sourcing.
The finance ministry will have to rely on the weapons in its arsenal, since monetary policy is not providing the support.
To enable Indian banks and financial institutions to develop an aircraft-leasing ecosystem at GIFT City, the Ministry of Civil Aviation has sought support from the Ministry of Finance. It has also raised concern over slow progress in developing aircraft leasing in India.
The government is likely to give a subsidy of Rs 30,000-35,000 crore to state-run oil companies - Indian Oil Corporation (IOC), Bharat Petroleum (BPCL), and Hindustan Petroleum (HPCL) - to compensate for losses incurred from selling LPG at below cost over the past 15 months, according to a senior official.
The revised ceiling will be within the Rs 10 lakh mark.
Opening up the corner office is fine, but will the government be able to attract talent without giving a market-rate salary?, asks Tamal Bandyopadhyay.
Given that a sizeable part of this money is part of the coveted current accounts and savings accounts, it is surprising that banks are not in a hurry to revive these accounts, notes Tamal Bandyopdhyay.
Recalling or relabelling medicines already in the supply chain before September 22 will not be mandatory, the finance ministry said on Tuesday, issuing a fresh set of frequently asked questions (FAQs) to address industry concerns following the announcement of goods and services tax (GST) revisions.
'Money moves in a web of transactions and payment addresses keep changing for offshore companies, which requires heightened monitoring measures.'
'It was like rigorously preparing for a solid, good exam...' 'I don't know what marks I will get, but I felt the rigorous preparation of an exam.' 'You may sweat, but I feel rejuvenated.'
The CBI arrested Shafat Ahmed Shangloo, an absconder carrying a Rs 10 lakh reward, in connection with the 1989 kidnapping of Rubaiyya Sayeed. He is allegedly part of a conspiracy hatched by the banned JKLF.
Maharashtra minister Manikrao Kokate was stripped of his portfolios after being convicted in a 1995 cheating and forgery case. His ministries have been reassigned to Deputy Chief Minister Ajit Pawar. Kokate has been admitted to Lilavati Hospital after complaining of chest pain.
'Suddenly we had a new comprehension of affairs, which reminded that the luxury of politics floated atop a foundation by economics.' 'Along with this, finance ministers became crucial in molding the perception and reputation of Union Cabinets.' 'Governments couldn't afford a wrong person in that portfolio,' asserts Shyam G Menon.
India's market regulator is moving ahead to include real estate investment trusts (Reits) in benchmark indices in a phased manner, Sebi chief Tuhin Kanta Pandey said, while asserting that the regulator was working to strengthen the link between infrastructure building and the markets.
After issuing notices to hotels across the country for allegedly underpaying goods and services tax (GST) on restaurant services, the revenue department has now widened its scrutiny by seeking information from online travel platforms.
'Everyone involved in this transaction must be punished and penalised.'
'Neither SAI nor state departments have a dedicated sports administration service. Instead, roles are filled by generalist civil servants or contractual staff, often lacking sector-specific expertise.'
'The tools of warfare are changing. The MoD must deepen its engagement with technology thinkers that can present compelling visions of where warfare may be heading.'
This was perhaps a missed opportunity for India to spotlight a core domestic challenge: The scale of workforce preparation required for a young, populous, rapidly growing country seeking to reach net zero, points out Radha Roy Biswas.
The Delhi High Court has asked the central government why it cannot reduce the GST on air purifiers, considering the poor air quality in Delhi. The court's concern is that the current 18% GST makes air purifiers unaffordable for the common man.
The Budget assumes significance as it comes on the back of lower-than-expected growth numbers during the second quarter and geopolitical uncertainty.
The CBDT is investigating Jane Street for possibly misusing the India-Singapore tax treaty.
The Supreme Court has directed the CBI to conduct a pan-India investigation into digital arrest scams and questioned the RBI about its lack of AI usage in detecting and freezing accounts used by cybercriminals.
Here's unlocking the real story behind your EPF's 8.25% interest and what it truly means for your retirement kitty.
