There was no official word on the agenda of the session which will be held days after the G20 Summit in the national capital on September 9 and 10.
Party justifies total washout of day's proceedings in Rajya Sabha, citing Dalit atrocity, insult to Congress CMs and the GST bill.
The banking system's liquidity slipped into deficit for the first time in the current financial year (2023-24) due to the imposition of the Incremental Cash Reserve Ratio (I-CRR) for banks and outflows from goods and services tax (GST) payments, according to dealers. Reserve Bank of India (RBI) data shows it injected Rs 23,644 crore on August 21. The last time liquidity was in deficit was on March 27, when the RBI injected Rs 45,575 crore.
The growth of eight key infrastructure sectors rose to a 14-month high of 12.1 per cent in August 2023 against 4.2 per cent a year ago, mainly due to expansion in production of coal, crude oil, and natural gas, according to the official data released on Friday. The expansion in August is the highest since June 2022, when it was 13.2 per cent. The production of refinery products, steel, cement and electricity also grew in August, the data showed.
The implementation of the GST will indeed be a landmark reform.
'The revenue projection arises out of all sectors doing well and the formalisation of the economy helps in making sure the tax domain gets widened.'
Both Lok Sabha and Rajya Sabha did not see a debate on the Manipur violence, but Prime Minister Narendra Modi and Home Minister Amit Shah spoke on it during their addresses on the no-confidence motion.
Its passage in the Lok Sabha is all but certain due to the massive majority the Bharatiya Janata Party and its allies have, and the Union government is confident of its passage in the Rajya Sabha as well with the support of several non-aligned regional parties which have often joined the treasury benches in the past.
They will hold discussions on the requirement of a constitution amendment bill for rolling out the proposed GST, which is all set to miss even the revised deadline of April one, 2011.
The GST has been a great achievement, but it does suffer from weaknesses, says Chief Economic Adviser Arvind Subramanian.
His interaction was webcast live on Twitter.
The Modi government could steer through Parliament 59 out of 75 Bills.
On March 13, Minister of State for Finance Pankaj Chaudhary had tabled the second batch of supplementary demands for grants in the House amounting to a total of Rs 2,70,508.89 crore.
With Tamil Nadu's economy getting increasingly debt-ridden with each passing budget, any concession to the Centre on the tax front, the state government has argued, would only help forgotten 'minor parties' to start hoping of a revival, says N Sathiya Moorthy.
The challenges before the government, he said, is to put public sector banks back on track and continue to operationalise stalled infrastructure projects
He also pointed out that the home ministry was neither consulted, nor did it give the necessary security clearance
The council, headed by Finance Minister Arun Jaitley, will meet again on December 11 and 12 to hammer out the differences.
Arun Jaitley on Friday said he would defer the move.
The progress of the GST Bill in Parliament is also likely to remain in focus
A total of 16 bills, including the GST Bill, Lokpal (Amendment) Bill, Factories (Amendment) Bill and the Anti-Hijacking Bill are pending in Parliament -- five in Lok Sabha and 11 in the Rajya Sabha.
Good monsoon, farm loan waiver -- the two key reasons behind more customers in jewellery shops
The government of India holds 24.5 per cent stake in GSTN while states together hold another 24.5 per cent
"This rationalisation is 3-4 month exercise," he said, adding that the GST Council decided on the rate cut on the recommendation of a Fitment Committee.
A 7:2 majority verdict by the apex court ruled that the tax legislation by the state does not require the consent of the President under Article 304 B of the Constitution
'Right to apprenticeship means that anyone below the age of 25 years with a diploma or other qualifications can demand an apprenticeship with a private, a public sector company or a government organisation. And when he/she demands this, it is the obligation of the government to provide it.'
In a first, Opposition-ruled states on Saturday got the Centre to delete from the records three minutes of the last GST Council meeting that provided for tweaking of agreed criteria for division of taxpayers under the Goods and Service Tax regime.
It's difficult to understand if GDP growth has actually improved.
Goods like chocolates, chewing gum, shampoo, deodorant, shoe polish, detergents, nutrition drinks and marble will now attract 18% GST>
The average rating was seven out of 10.
Prime Minister Narendra Modi on Thursday asked his Council of Ministers to make extra efforts for effective implementation of public welfare schemes at the ground level and work on new ideas in their ministries ahead of the budget.
Following are comments from economists at leading financial institutions, banks and rating agencies on the interim Budget:
Preparing legal framework to protect states from revenue loss.
The mandate will help further the development agenda in these states, with good governance and policy reforms taking centrestage
The Congress filed a dissent note on eight provisions.
The announcement came after the chief minister held a high level meeting with senior government officials on Thursday to discuss the implementation of both schemes, which are part of five poll guarantees of the Congress.
Whether it was the MGNREGS or the NFSA or the Aadhaar-based DBT scheme for cash transfer, the Modi government has built on the basic architecture created by the Singh government. Policy makers in the Modi government, instead of discarding them as products of the previous political regime, worked on them, expanded their scope and reach, and used new tools to improve their performance, explains A K Bhattacharya.
For any proposal to be cleared, it has to get 75% of the vote.
Lok Sabha passed the Finance Bill, after approving more than two dozen official amendments, by voice vote, thus completing the Budgetary exercise for 2019-20 in the Lower House.
Private lenders were among the top losers along with RIL.
Congress is opposing the GST bill in the current form.
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