Lok Sabha proceedings were adjourned for the day on Thursday following a request from the government that the Indian Antarctic Bill, 2022 be taken up for consideration when Opposition members are also present in the House.
'Day by day, the queues will shorten.'
According to reports, eight hours have been allocated by the speaker for discussion on the tax reform bill.
Prime Minister Narendra Modi on Wednesday said that the country's economic growth is picking up pace again and the domestic industry needs to enhance its risk-taking appetite. Noting the recent reforms taken by the government, the Prime Minister said that bringing reforms is a matter of conviction for his government, which is ready to take all risks in the national interest. "We have taken bold decisions. Reforms continued even during pandemic. "The government is doing reforms not out of compulsion but out of conviction," he said while addressing the CII's annual meeting.
Weak dollar against other currencies overseas supported the rupee
Here's a recap of events that occurred in India in the past 24 hours.
Ramesh says that since the attitude of the Narendra Modi government is deliberately provocative and confrontational, it should not expect cooperation from the Congress.
The government is mulling changes in the income tax laws to bring cryptocurrencies under the tax net, with some changes that could form part of the Budget next year, a top official said. Revenue secretary Tarun Bajaj said that in terms of income tax, some people are already paying capital gains tax on the income from cryptocurrency, and in respect of Goods and Services Tax (GST) also the law is "very clear" that the rate would be applicable as those in case of other services.
GST has been hanging fire with the Opposition Congress yet to come on board
Congress leader Jairam Ramesh interacts with readers on Rediff Chat as he discusses the period that changed India's history, forever.
Investor wealth shrunk due to markets crashing on Wednesday.
The broader market outperformed with the S&P BSE Midcap down 0.3%, while the S&P BSE Smallcap was little changed.
The Reserve Bank of India (RBI) announced new rules for credit cards, applicable from July 1. "These directions cover the general and conduct regulations relating to credit, debit and co-branded cards which shall be read along with prudential, payment and technology & cyber security related directions applicable to credit, debit and co-branded cards, as issued by the Reserve Bank," the circular by RBI said. Business Standard culled out key rules from the list, and asked financial experts for advice on them, along with the thumb rules one needs to follow while using credit cards.
A figure above 50 indicates that the sector is expanding, while a figure below that level means contraction.
He said that the voices of the weak, did not reach the BJP and the RSS.
Two years of the NDA government have instituted significant reforms, including the passing of the GST bill in India but "cultural issues and saffronisation" have resulted in a slow incremental change instead of big bang reforms, according to a top American think-tank.
The market capitalisation of BSE-listed companies jumped to a record high of Rs 2,40,04,664.28 crore on Tuesday, driven by a rally in stocks that also saw the benchmark Sensex touching its lifetime peak of 53,887.98 points. Rallying for the second consecutive day on Tuesday, the 30-share BSE index closed at a fresh closing peak of 53,823.36 points, a jump of 872.73 points or 1.65 per cent. During the day, it zoomed 937.35 points to 53,887.98 points.
The introduction of GST would constitute India's biggest reform.
Technical rallies and short covering may arise only if the markets break this 500 point band
Jaitley said a very large number of reforms have taken place over the last few years and that has helped in restoring the credibility of the Indian economy
There are two ways: Deliver a rapidly growing economic pie or reform GST and close corporate tax loopholes, suggests T N Ninan.
Congress leader Rahul Gandhi on Monday said that repealing the three farm laws without a debate in Parliament shows that the government is "terrified" and knows that it has done something wrong.
Stating that he had consistently held Singh in high respect, he expected the same from him.
The BSE Mid-Cap index was currently up 0.81%.
After his statement, opposition leaders will speak and if required Singh may give a clarification, the sources said.
Rupee was impacted by renewed dollar demand from banks and importers amid sharp falls in equity market
The BJP's oldest ally Shiv Sena remained silent on the performance of the National Democratic Alliance regime.
An insatiable quest for personal propaganda, event management and attractive slogans has made Modi sovernment as 'catch headline government'
'With 1.3 billion consumers, India's market has great potential.'
Accusing the ruling Bharatiya Janata Party of having "reaped benefits" of communal polarisation in the Lok Sabha elections, the Congress on Wednesday said the government should now focus on good governance and deliver on promises.
In good times, analysts justify valuations giving interesting investment rationale.
Never before has the need for creating an ambience for economic policy reforms been as critical as it is now, points out A K Bhattacharya.
'Prime Minister Modi stated several times that we shall not let this challenge go away without converting it into an opportunity to undertake systemic reforms.' 'And hasn't that been reiterated in action?'
Apart from Smriti, Ravi Shankar Prasad and Ananth Kumar took over as law and parliamentary affairs ministers respectively.
Sensex lacklustre, bluechips in focus.
Government on Thursday claimed that it had Congress "cornered" on the penultimate day of the Monsoon Session of the Parliament.
As the Narendra Modi government nears completing a year in office, the Congress on Wednesday stepped up its offensive against the prime minister accusing him of weakening democracy by running a "one-man show" while scoring maximum on "arrogance" and minimum on governance.
Because from June 1, 2015, you will have to fork out 14 per cent service tax instead of 12.36 per cent
The government will borrow Rs 5.03 lakh crore in the second half of the current fiscal to fund the revenue gap for reviving the pandemic-hit economy, the finance ministry said on Monday. During the first half, the government has raised Rs 7.02 lakh crore by issuing bonds, the ministry said in a statement. "Out of gross market borrowing of Rs 12.05 lakh crore projected for FY 2021-22 in the Union Budget, Rs 7.24 lakh crore (60 per cent) was planned to be borrowed in first half (H1).
Those hardest hit by the second wave of the pandemic have been blue-collared workers, doctors and healthcare workers, law and order and municipal personnel, individuals eking out daily livelihood, and small businesses. And there should be more measures taken to alleviate their pain, the Reserve Bank of India (RBI) said on Monday. The report also indicated that the RBI's growth numbers might have to be revisited as the central bank's real GDP growth projection of 26.2 per cent given in the MPC's resolution of April 7 for the first quarter of 2021-22, were "made before the full fury of the resurgence." Nevertheless, the "resurgence of COVID-19 has dented but not debilitated economic activity in the first half of Q1: 2021-22.
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