The Central Board of Trustees of Employees Provident Fund Organisation is likely to cut the EPF interest by one per cent from the present 9.5 per cent when it meets on May 31.
Whilst substantive public allocations have been made in the infrastructure sector, this strategy is plateauing due to the fiscal deficit constraint, capacity limitation of statal implementing agencies, the declining ability of PSUs, and the precarious situation of the Railways' operating ratio. It is, thus, high time to get the policy compass to point at rejuvenating private sector investments in infrastructure, says Vinayak Chatterjee.
"The rule of law is under attack. History shall never forgive our present generation if the situation is not changed," the former PM said.
If this turns into reality, India's gross domestic product (GDP) growth will be the lowest since 2012-13, which could severely hit job creation and income growth in the near term.
The fiscal deficit in current fiscal has been estimated at 3.9%.
The government said on Friday there is no proposal to ban participatory notes, which are instruments through which unregistered entities invest in the Indian securities markets.
Congress on Monday kept the government guessing on the insurance bill asking it to take on board all stakeholders and favouring the select committee route even as it insisted that the measure is its own "baby" and it is a "misnomer" that the party is opposed to it.
The crucial meeting of the Central Board of Trustees will be held in New Delhi on Saturday to decide on the interest rate on Employees Provident Fund
Sunak announced that the Immigration Health Surcharge (IHS) would be hiked from 400 pounds to 624 pounds.
It has been a year since the Reserve Bank of India (RBI) initiated prompt corrective action (PCA), an exercise that puts weak banks under central bank scrutiny, against the 94-year-old Lakshmi Vilas Bank (LVB). But recently, this low-profile Chennai-headquartered bank found itself attracting some unwonted publicity when 60 per cent of its shareholders voted against a proposal to re-appoint seven directors, including one of the promoters, K R Pradeep (who holds around 2 per cent), and the company's managing director & chief executive officer S Sundar.
The CAD in 2012-13 was at 4.7 per cent of GDP and in 2013-14 it will only 1.7 per cent, the Finance Minister said.
'Infusion of fresh capital, handsome growth in deposits and focus on recovery should bring Yes Bank back on the growth path in the next financial year,' observes Tamal Bandyopodhyay.
Jaitley said inflation has been under control for long and is likely to remain so on the back of good monsoon and unlikely spike in oil prices.
Chidambaram and his son Karti Chidambaram were named in the chargesheet filed by the CBI in the case on July 19.
The DMK parliamentary party appears to be a house divided, reports R Rajagopalan.
Such listings will help internationalise our currency, give us economic heft, compel best in class regulations and further develop the professional-services ecosystem., says Amit Tandon.
"My family reputation kept me a silent spectator, as I mutely watched the organisation I founded come to a point where it was publicly auctioned; where my family and myself have been stripped of our legacy, our finances and my personal credibility."
Once three officers reached inside, they opened the gates to allow other team members waiting outside.
'The government should refrain from 'adventurism' and 'megalomania'.' 'But this should be true of reckless government action against every Indian, whether or not they are wealthy or have access to the finance minister even when he is in hospital,' says Aakar Patel.
Chidambaram first met bankers and industrialists in Mumbai to seek ways to revive slowing economic growth.
'The Modi government has been taking credit for improvement in respect of the ease of doing business in India.' 'But when I look at the scams I cannot help feeling that it is too easy to do business with banks in India, if one is a Harshad Mehta, Vijay Mallya or Nirav Modi and their tribe,' says former Union home secretary Madhav Godbole.
The government has given up plans to reconvene a parliament session to secure approval for a common goods and services tax.
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The catalyst is the run on emerging market equities, but many investors are just tired of waiting for India to get its act together.
Members of Parliament, state legislatures, and local governments not eligible to be members of PSB boards
The minister tells Subhomoy Bhattacharjee that he wants to set up a financing corporation for the road and shipping sectors, which will throw up a business opportunity of Rs 25 lakh crore!
The rating agency official did raise concern about the banks' non-performing assets.
But it may come with a downside risk of further rise in prices of several products.
Half a dozen names are doing the rounds as replacement for Cyrus Mistry as the chairman of the Tata Group.
The whistleblower, claiming to be an employee working in the finance department, said he was submitting a 'whistleblower complaint' unanimously as the matter stated was 'volatile' and that he feared retaliation on disclosing the identity.
The Oil Ministry has proposed raising natural gas prices by at least 60 per cent, a move that will result in rise in urea as well as power costs.
Listing out priorities for the Finance Ministry under Arun Jaitley and the Narendra Modi government as a whole, it said the growth rate can pick up to 6 per cent with the extent and pace of reform measures.
The Cabinet on Thursday approved 49 per cent foreign investment in insurance companies through the Foreign Investment Promotion Board route ensuring management control in the hands of Indian promoters.
Food subsidy bill rises 20% in April-January
FM may increase income-tax exemption limit to Rs 3 lakh
The proposed bill seeks to raise FDI cap in the sector to 49% from the present 26.5%
The Governor said the MPC had voted to maintain its accommodative stance, implying more rate cuts in the future if the need arises.
Chidambaram was competent to give approval of upto Rs 600 crore but he gave the approval which was worth approximately Rs 3,500 crore
Addressing the Congress Working Committee, the president of the party said, ""Misfortunes do not come singly. India has been hit by a terrible economic crisis, a pandemic of huge proportions and, now, by a full-blown crisis on the borders with China. Much of each crisis is attributable to the mismanagement of the BJP-led National Democratic Alliance government and the wrong policies pursued by it."
'Public sector banks are like an extended arm of the government.' 'They rush to rescue certain sectors or they rush to invest in certain sectors to prop up the economy which the private banks don't.'
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The toxic brew of fiscal populism, crony capitalism and bad economic management has ensured the collapse of economic growth, industrial stagnation, stubbornly high consumer inflation, declining savings and investment, shrinking employment opportunities, and a dangerously vulnerable external financing situation.
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