Signalling both change and continuity, India's new government, headed by Prime Minister Narendra Modi for a third consecutive term, got into work gear on Tuesday with cabinet ministers and ministers of state filing into their respective offices to assume charge.
Under Urjit Patel, the then RBI Governor, the central bank had a habit of making complete about-turns on various issues, including electoral bonds and digital payments, former finance secretary Subash Chandra Garg said in his book titled 'We Also Make Policy: An Insider's Account of How the Finance Ministry Functions.' Citing some instances of about-turns by the then RBI Governor Patel, Garg in his book said, RBI had done so on the electoral bond issue and it had so in case of setting up of Payments Regulatory Board (PRB). RBI also made unilateral decisions like ordering complete data localization for participation in the payment system, Garg wrote in the book which will hit the stands on October 1.
Amid controversy over the finance ministry's note to the Prime Minister's office (PMO) on awarding licences for 2G spectrum in 2008, a joint parliamentary committee (JPC) is holding a two-day meeting on Tuesday and Wednesday.
Lenders in India, comprising banks and finance companies, anticipate robust growth in retail credit during the upcoming festival season, stretching from September to December 2023. This expectation is based on resilient demand, government initiatives, and elections in key states.
Sources said there was no need 'immediately' to look into legal aspects or consider anything else (such as the possibility of political interests over the dismissal and a counter-strategy to frustrate it), as the dismissal was now on hold.
The Fintech Association for Consumer Empowerment (FACE), the only self-regulatory organisation for financial technology/fintech (SRO-FT) companies, is aiming to secure membership from at least 75 per cent of players across all key fintech categories within the next three years, according to a senior executive. The total number of members in the organisation has increased to 110, up from around 60 when it received approval from the Reserve Bank of India (RBI) to operate as an SRO-FT in August.
'My protest was in the interest of the nation.' 'I am just doing my duty as a citizen of this country.'
Home Minister Rajnath Singh on Sunday met Prime Minister Narendra Modi and briefed him about the situation in violence-hit Saharanpur and students' protests against UPSC syllabus and the steps being taken by the Centre on both the issues.
During 2023, the Indian real estate sector - both housing and commercial - witnessed buoyancy fuelled by demand, supply, and absorption, and the sector is banking on the upcoming Budget to keep the momentum going. Mumbai-based Sattva Group wants the government to focus on the critical pillars for long-term growth. The company emphasised on the infrastructure boom with increased allocation, lower goods and services tax (GST) rates, incentives for affordable housing and single-window clearance to fast-track projects and support liquidity.
The state police have been looking for the Shiromani Akali Dal leader to arrest him.
Home Minister Rajnath Singh is number two in the government when it comes to social media outreach as his official twitter handle has got five lakh followers, second only to the prime minister.
PMAY-Gramin, which was launched in November 2016, aims to construct 10 million homes by March 31, 2019, with private sector and state government participation
The finance ministry is considering a proposal by Indian Bank's Association to give post allowance to chairmen and executive directors of public sector banks, a key official said on Tuesday.
The government has approved 20 new highway and housing projects at a total investment of Rs 14,538 crore (Rs 145.38 billion).
Over 65 Union ministers are likely to take oath, going by the visual of the meeting Modi held with his likely council of ministers.
Although the Disaster Management Act for Covid containment measures, considered a hindrance in conducting the census, was withdrawn in March this year the Centre has not taken any further action on conducting the much-delayed population enumeration.
'The prime minister's comment on 'revdi culture' was welcome. But I am disappointed he did not follow up on that.' 'All political parties, including the BJP, have been guilty of this.' 'Now, Modi's guarantees, the Congress's 'nyay' path and both ruling and Opposition parties are vying with each other for freebies in my home state Andhra Pradesh.'
The list has been sent to Governor Ram Naik for approval.
Although it is only going to be an interim budget this time, the Finance Ministry on Friday organised the ritual 'halwa' ceremony, which heralds the beginning of the quarantine for staff that will be associated with the preparation of the secret document.
Prime Minister Narendra Modi, Home Minister Amit Shah, Lok Sabha Speaker Om Birla, Union Health Minister Harsh Vardhan and Minister of State for Health Ashwini Choubey are at the hospital to enquire about his health condition.
Pranab's earlier fear of Sonia relying too heavily on a coterie due to her lack of experience turned out to be unfounded. As per Pranab, Sonia had her close advisers but she did not follow anyone's advice blindly. A fascinating excerpt from Sharmistha Mukherjee's Pranab, My Father: A Daughter Remembers.
A panel headed by Economic Affairs secretary Arvind Mayaram had suggested FDI limit be raised to 49 per cent in almost all sectors through the automatic route.
The finance ministry has asked the tax department to impose hefty penalties on those hospitals found with unaccounted cash, and such entities could be booked under anti-money laundering laws and prosecuted, reports Shrimi Choudhary.
While there are some new faces in the cabinet, leaders such as BJP president JP Nadda and Jual Oram have returned as ministers.
The AIIMS has not issued any bulletin on Jaitley's health since August 10.
'Modi personally provides the higher direction of the ministry and the minister then works with bureaucrats on implementation,' points out Aakar Patel.
The AIIMS has not issued any bulletin on Jaitley's health condition since August 10.
The finance ministry also said the maximum funding will be Rs 400 crore for any single project that will be seeking assistance from the 'special window' for completion of the 1,508 projects comprising about 4.58 lakh units.
Days after he attacked Home Minister Sushilkumar Shinde, former Home Secretary R K Singh has been stripped of his personal staff by the government.
'Somebody was using somebody to make statements that will stir the stock market and lead to a surge.' 'A sudden surge and a sudden crash is always an ideal situation for people to make illicit gains and then siphoning off the money.'
We need not spend much time going over what this government has done and is doing to the Opposition, by misusing the Enforcement Directorate and the CBI. There is a daily update on that, notes Aakar Patel.
Amid concerns over misleading claims of huge returns on cryptocurrency investment, Prime Minister Narendra Modi on Saturday chaired a meeting on the way forward on the issue, with government sources asserting that such unregulated markets cannot be allowed to become avenues for "money laundering and terror financing".
It is possible to be blind to this and pretend to carry on as if nothing has happened but that will not change the reality, asserts Aakar Patel.
There was more to him than he let on, asserts Aditi Phadnis.
Pant, a 1991-batch Indian Administrative Service officer of Rajasthan cadre, is currently secretary in the ministry of ports, shipping and waterways.
Besides the prime minister, the ministers of defence, home, external affairs and finance are members of the committee.
Jitendra Chouksey from Pune tells Rediff.com's A Ganesh Nadar what he would like to see in Finance Minister Nirmala Sitharaman's Budget.
The accusation comes a day after the President's secretariat forwarded the assertions of the Opposition BJP that Delhi was facing a constitutional crisis to the ministry of home affairs for "proper attention".
The prime minister also asked senior ministers to hand-hold the new incumbents, sources said after the meeting.
Portfolios were on Tuesday allocated in the new Bihar cabinet headed by Chief Minister Nitish Kumar who, predictably, retained the all-important home department which helps him keep direct control on the state police.
