The provisions in the FRDI bill do not modify current protections for depositors adversely at all, the ministry held, maintaining that these rather provide additional protections in a more transparent manner.
The proceedings were washed out over various issues including the Citizenship (Amendment) Bill and roster system for reservation in educational institutions.
Amid demands for calling Prime Minister Manmohan Singh and Finance Minister P Chidambaram as witnesses before the Joint Parliamentary Committee on 2G, Bharatiya Janata Party members in the panel on Thursday once again abstained from its proceedings. During the last meeting of the JPC on October 11, the BJP members had stayed away after accusing JPC Chairman P Chacko of failing to finalise the list of witnesses and include the prime minister and Chidambaram in it.
Joint Parliamentary Committee Chairman P C Chacko on Thursday decided to refer to the Lok Sabha Speaker the demand to summon Finance Minister P Chidambaram as a witness before the panel on the 2G scam.
'Reports in a section of media regarding Union Minister Shri Arun Jaitley's health condition are false and baseless. Media is advised to stay clear of rumour mongering,' Government Spokesman Sitanshu Kar tweeted.
An "exhaustive" list of witnesses, which includes former Prime Minister Atal Bihari Vajpayee and former Finance Minister P Chidambaram, was on Tuesday placed before the JPC probing the 2G spectrum allocation scam, but a decision whether to call them was deferred.
Bharatiya Janata Party members on Tuesday walked out of the proceedings of a Joint Parliamentary Committee on 2G scam, claiming that they were not allowed to raise the issue of finalising the list of witnesses.
On August 22 also, BJP members had walked out of the JPC meeting alleging that Congress members had used foul language when they sought inclusion of Prime Minister Manmohan Singh and Finance Minister P Chidambaram in the finalised list of witnesses to be called before the JPC.
The Joint Parliamentary Committee on the 2G scam will resume its proceedings next week when former Cabinet Secretary K M Chandrasekhar appears before it as one of the 'essential witnesses' before the panel starts writing the draft report.
A bill to ban the practice of talaq-e-biddat has been passed by Lok Sabha and is pending Rajya Sabha's nod.
Asked about the Congress's opposition to the GST Bill, Santosh Kumar Gangwar said no party opposes GST outside Parliament.
The Parliamentary Standing Committee on Finance has passed strictures against the finance ministry for the delay in introducing the draft direct tax code for legislation to replace the voluminous Income Tax Act, 1961.
RBI Governor Raghuram Rajan on Tuesday said the Finance Ministry's decision to provide more capital to PSU banks will lower the borrowing cost and increase their capacity to lend, besides promoting investments.
'But India, increasingly, is not that far behind, which is a story I never expected to tell.'
The JPC has completed the process of questioning most of the bureaucrats in the 2G scam investigation
The vice president met Leader of the party in Lok Sabha Mallikarjun Kharge, P Chidambaram and Deputy Leader of the party in Rajya Sabha Anand Sharma, among others and discussed various points regarding the key tax reform legislation.
Earlier, while presenting the Budget on February 1, Finance Minister Arun Jaitley had proposed to cap cash transactions at Rs 300,000 with effect from April 1.
'There is an evaluation committee which is involved in these matters. The committee comprises six persons and there are persons from the armed forces and also the finance wing. My information suggests that two persons in this committee have allegedly manipulated this deal,' MV Mysura Reddy, member of the parliamentary defence standing committee, tells Vicky Nanjappa
India's growth outlook has weakened sharply this year, with a crunch that started with the non-banking finance institutions spreading to retail businesses, car-makers, home sales and heavy industries.
The decision was taken at a meeting Finance Minister Pranab Mukherjee had with Law Minister Salman Khurshid and Parliamentary Affairs Minister Pawan Kumar Bansal.
Civil society groups welcome the submission of a memorandum opposing Aadhaar and other anti-people policies to the prime minister along with a big truckload of signatures numbering 3.57 crore on March 14, says Gopal Krishna
Coming out in strong defence of Home Minister P Chidambaram, Kapil Sibal on Saturday attacked the Bharatiya Janata Party-led National Democratic Alliance of attempting to "foist" culpability on him in the 2G scam saying it was a desperate attempt to make Parliamentary democracy dysfunctional.
Strongly defending its decision to allow FDI in retail, Finance Minister Pranab Mukherjee on Thursday told Congress Members of Parliament that the government was "compelled" to suspend the move to avoid "pre-mature elections". Addressing the Congress Parliamentary Party, Mukherjee also apologised to members who had supported the government in allowing FDI in retail but said going ahead with the decision could have created a "crisis" for the government.
The list has been sent to Governor Ram Naik for approval.
The new Companies Bill, which was first introduced in the Lok Sabha in 2008, seeks to give a fillip to the cause of corporate social responsibility and corporate governance.
The Standing Committee on Finance, which met under the chairmanship of senior BJP leader Yashwant Sinha, has decided to finalise its report by March 2, enabling Parliament to consider the ambitious reforms in direct tax regime.
According to Mitra, items such as foodgrain, vegetables, leather goods, footwear, cottage cheese, puffed and flattened rice, books and entertainment tax, among several others, should be in the zero-tax bracket.
The politics of hate does not pay. The people are too sensible to fall for such a ruse, says Amulya Ganguli.
He asked BJP MPs/MLAs to take up various programmes, including spending 72 hours to reach out to people, when his government completes three years on May 26.
While players in the financial ecosystem are opening up to the idea of receivables funding for the sector, this market needs a regulator, which a Parliament panel feels only RBI can provide.
In the midst of the stock market turbulence, the government has sounded a word of caution to investors, with the pre-budget Economic Survey asking them to resist the 'herd mentality.'
Mukherjee, along with Parliamentary Affairs Minister PK Bansal and Human Resources Development Minister Kapil Sibal, held meetings with BSP leader Satish C Mishra and RJD chief Lalu Prasad as the debate was underway in the Rajya Sabha in effort to woo them
He accused Jaitley of having the ability to spin "two truths or lies" with "fake self-righteousness" and "indignation to defend the indefensible".
The I-T officer can go back up to six years to scrutinise the books of accounts of the assessees.
A delegation of ex-servicemen on Sunday met Finance Minister Arun Jaitley and submitted a memorandum seeking "corrections" in the One Rank One Pension notification, as their protest on the issue entered the 203rd day.
An assessee's interest in a foreign trust or a company is also proposed to be made taxable assets under the new tax regime.
Chidambaram to meet Congress Parliamentary Party today.
Dissatisfied with the reply about non-submission of the controversial March 25 note on 2G spectrum allocation before the panel examining the issue, non-United Progressive Alliance members of the Joint Parliamentary Committee on Monday asked the finance ministry to provide input documents that helped its compilation.
The Union Budget may be presented around the middle of March in view of the ongoing Assembly elections, Finance Minister Pranab Mukherjee indicated on Wednesday.
AIADMK coordinator O Panneerselvam is said to be upset at his son Raveendranath Kumar, a Lok Sabha MP, being denied a ministerial chance for a second time in a row, beginning with the formation of Modi 2.0 in 2019, reveals N Sathiya Moorthy.
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