'All of us have believed in decentralisation. You may not like property taxation, neither do I. My solution is that the Centre does the tax collection, but we can give a matching grant instead of redistribution,' says the outgoing CEA, Arvind Subramanian.
Jaitley said the Indian Army and the Border Security Force are "dominating" the Line of Control irrespective of where the troubles are being created by foreign insurgents or domestic terrorists.
GST will make it easier for governments to spend more, says T C A Srinivasa Raghavan.
FinMin does not expect tax or non-tax revenue to reach anywhere close to the targets set in the interim Budget. Sources say that the challenge before the new government will be either to accept the reduced projection and tailor the Budget accordingly or set a more ambitious target.
PM Modi on Sunday called upon states to "speed up capital expenditure and infrastructure creation" to spur economic growth.
The CAG audit may look into expenditure on printing of notes, RBI dividend payout and banking transaction data.
Prime Minister Narendra Modi and chief ministers of states may soon have an in-person interaction on a common platform for the first time since 2019. The seventh meeting of the Governing Council of NITI Aayog is likely to be held in late June or early July, Business Standard has learnt from sources in the Centre and a state. While the date and other details are yet to be finalised, it is learnt that there will be a conclave of chief secretaries of states and Union Territories in Dharamshala, Himachal Pradesh, on June 14 and 15, which will decide the agenda of the Council meeting to be held at a later date.
Results of some blue-chip companies exceeded expectations, providing additional thrust, traders said.
The budgeted indirect tax collection target is Rs 9.26 trillion, and the Centre has collected around Rs 5 trillion in the first 8 months. So it needs another Rs 4.2 trn in the last four months
'Our automakers export 50 per cent of what they manufacture and once the policy comes into play, which is in the next 2-3 years, we would become a Rs 10 trillion industry.'
On one hand, South Indian states have been complaining about denial of a proportionate portion of the sharable funds from the Centre, based on population. On the other hand, they stand to lose Lok Sabha and Rajya Sabha seats that again are based on population, points out N Sathiya Moorthy.
India's growth presents a win-win partnership for the country and the US, and American companies have a great opportunity to contribute to that, Modi told the CEOs.
The bill was taken up for consideration in the Lok Sabha after the Speaker rejected Opposition demands to refer the key reform measure to a parliamentary Standing Committee.
Rajasthan Congress chief Sachin Pilot said the manifesto was prepared after taking opinions through multiple platforms such as social media.
A hike in cess on luxury cars will not only hinder Jaguar Land Rover's network expansion but also prevent it from introducing new technologies in India, JLR India managing director Rohit Suri tells Shubham Parashar in an interview.
Jewellers in India, the world's second largest gold consuming country after China, have started receiving more inquiries for purchase of gold or silver immediately after the Reserve Bank's announcement to withdraw Rs 2,000 notes from circulation. However, there is no panic buying of the precious metal unlike the situation witnessed in 2016 during demonetisation, jewellers body GJC said on Sunday. In fact in the last two days, the actual gold purchase has been less in exchange of Rs 2,000 notes due to strict Know your Customer (KYC) norms although sources said some jewellers have started charging a 5-10 per cent premium, taking the gold prices to Rs 66,000 per 10 grams level.
ICICI Bank extended yesterday gains, rising 10% in two trading sessions
Cash flow-based analysis should throw up businesses better able to survive the transient effects of a working capital crunch, says Devangshu Datta.
From Hyundai to Tata Motors, automakers are staring at a bleak future. With no succor provided in the Budget, the pain for companies is likely to continue for the next two quarters.
Of the 11,000 kg imported between July 1 and August 9, around 90 per cent was brought in by two business groups which took advantage of the favourable reduction in tax incidence under GST, routing their imports through Korea.
Investors must be prepared to believe that things will get better eventually, no matter how bad the current situation may look. If you don't possess this optimism, you will not possess the courage to invest and if you don't invest, you don't give yourself any chance to get wealthy, says Devangshu Datta.
GST stabilisation, DTC implementation and banking reforms are crucial for sustaining high growth for a long period, says Rashesh Shah.
The shutdown has been complete in not only major cities like Kohima, Dimapur and Mokokchung, but even smaller towns such as Tuli, Jalukie, Pfutsero, CNCCI president Khekugha Muru told PTI.
General Budget is a terminology earlier used to differentiate between the Union Budget with the Railway Budget. Full-fledged budgets are titled "Union Budget", while interim Budgets are titled just that.
"The Congress in a way is in the grip of urban Naxals. That is why its thought has become negative," Modi alleged in his 90-minute speech.
Room for rise of up to 2 percentage points, move to help meet higher expenditure need in FY17
The policy review observed that the moderation in inflation, excluding food and fuel, that was witnessed in the first quarter of 2017-18 has "by and large, reversed".
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.
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.
As per SIAM data, vehicle sales across categories, including passenger vehicles and two-wheelers and commercial vehicles stood at 18,21,490 units last month as against 23,82,436 units in August 2018, a fall of 23.55 per cent.
The BSE 30-share index after a positive opening stretched to 31,772.41, but could not stay there for long buffeted by the selling pressure. It hit a low of 31,562.25 before settling lower by 79.68 points, or 0.25 per cent, at 31,592.03.
Lupin was the top gainer after the USFDA cleared its Goa facility
Experts point out that National Anti-profiteering Authority does not have the power to advise companies on depositing amounts voluntarily.
A Ganesh Nadar/Rediff.com attends Finance Minister Nirmala Sitharaman's presser in Chennai to tom-tom the government's achievements in its first 100 days in office.
Palanivel Thiaga Rajan was on Thursday relieved of the finance portfolio by Tamil Nadu Chief Minister M K Stalin.
'I would like to convey the message to your readers that the prime minister himself is directly seized of the situation on the ground. He periodically reviews the situation on the ground and how it is moving forward, taking inputs from economists, business leaders, chambers of commerce.'
Exporters on Thursday demanded fiscal incentives, tweaking in customs duties on certain products and credit at affordable rates in the forthcoming Budget to boost exports and create jobs. In a pre-budget virtual meeting with Finance Minister Nirmala Sitharaman, the Federation of Indian Export Organisations (FIEO) said the depreciation of the rupee against the US dollar is affecting exports' competitiveness and the sector requires more support. "Creation of employment is the biggest challenge faced by the country...We would urge the government to provide fiscal support to units which provide additional employment in the export sector," the exporter's body said.
Domestic markets are also aided by a rally in the global markets with US market surging to record high and a firming trend at other Asian bourses.
'Non-separation of religion from politics is India's most daunting challenge'
'... the government provides adequate cash and kind support for the poorest of the poor for survival... ...conditional cash and skilling support for the economically poor to raise their incomes to adequate levels... ...and make functional arrangements for providing unemployment allowance to the vulnerable poor during disasters like the present one.'
