Budget speeches have been replete with incomprehensible and even hilarious statements, says Rathin Roy.
Accusing the Centre of setting a new trend of playing "dirty politics" for votes through the budget, an editorial in Sena mouthpiece 'Saamana' said the allocation of more funds to poll-bound states is a kind of "bribery".
Sources in the Rural Development Ministry said the actual expenditure incurred in 2020-21 will be higher than the allocated funds and it will at least be at par with this year's total estimated expenditure of MGNREGS.
While seven of the suspended MPs belonged to the TMC, six were from the DMK, three from the Telangana Rashtra Samithi, two from the Communist Party of India-Marxist and one from the Communist Party of India.
Tata Steel was the top gainer in the Sensex pack, zooming 7.57 per cent, followed by Sun Pharma, IndusInd Bank, L&T, ITC and HCL Tech.
'I believe the modified scheme is much more beneficial and simpler.'
Exuding confidence in sustaining the tempo of credit growth, public sector bankers said on Wednesday that consolidation in the public sector bank (PSB) space has given them a robust base to scale. The privatisation of PSBs can be done through divestment of government stake to a wider base of investors without haste. There is nothing to worry about at this point (high credit offtake) as underwriting standards and risk management are much better.
The finance ministry will kick-start the exercise to prepare the Union Budget for financial year 2022-23 (FY23) from October 12, according to an official notification released on Monday. "The pre-Budget meetings as well as the meetings to discuss the revised estimates will start from October 12 and will continue till the second week of November," according to the Budget circular of the Department of Economic Affairs' Budget Division. The Union Budget is expected to be announced on February 1, as has been the practice of the past few years.
Mukesh Ambani has resigned from the board of his group's telecom arm, Reliance Jio and handed over the reins of the company to elder son Akash, a step seen as succession planning by the 65-year old billionaire. In a stock exchange filing, Reliance Jio Infocomm said the company's board at a meeting on June 27, "approved the appointment of Akash M Ambani, non-executive director, as chairman of the board of directors of the company." This comes after his father resigned with effect from close of working hours on June 27, it said.
'They are also sitting on huge public sector assets without many returns.'
Two years after the Centre's flagship village electrification scheme Saubhagya concluded with the government claiming 99.9 per cent success, several states have added close to 1.1 million rural households that remain to be connected to the electricity grid. This new list includes earlier unwilling households that have now agreed to have a metered connection and also those built or discovered in the states' surveys since 2019. Assam and Uttar Pradesh are the states that have the majority of such new additions.
This is the Upper House's third best productive session in the last 14 sessions since the Monsoon Session (243rd Session) of 2017, the Rajya Sabha officials said.
The session will commence with the maiden address of President Droupadi Murmu to the joint sitting of both Houses of Parliament. The address essentially highlights the government's achievements and policy priorities.
The new income tax regime for filing returns has been "sweetened" in the Budget 2023-24 and it will be beneficial for maximum number of taxpayers as they can enjoy a "reduced" tax rate, CBDT chairman Nitin Gupta said. Speaking to PTI during a post-Budget interview, Gupta said the intent of the government while announcing the new slabs and rates under the new tax regime is to gradually "do away with deductions and exemptions" so that the "long-standing demand of reduction of taxes for individual taxpayers and entities can be met." Finance Minister Nirmala Sitharaman, while presenting the Budget 2023-24 in the Parliament on Wednesday, said the government has made the new income tax regime more attractive for taxpayers and has thus brought about 'substantial changes' in its structure for the benefit of the middle class.
Training guns on Jaitley, Ashutosh said the Union finance minister should come clean on the alleged irregularities in the Delhi and District Cricket Association.
While Manipur's Bharatiya Janata Party leadership has flown to Delhi to lay rival claims to the post of chief minister of the north-eastern state, National People's Party leader Conrad K Sangma, who had earlier flown to Imphal to seek a place for his party in the new government, seems miffed by hints that the BJP will go ahead and form a single-party government.
Policymakers are examining the possibility of increasing the tax-free slab to Rs 5 lakh in the two-year-old alternative personal income tax regime to make it attractive, a government official said. At present, taxpayers don't pay income tax if their taxable income is Rs 2.5 lakh and below. Increasing the threshold will reduce the tax outgo for assessees, thereby leaving more money with them to invest, the official said.
Will G20 showcase an India that is inclusive, culturally rich, diverse and tolerant, asks Ramesh Menon.
The session will begin with President Ram Nath Kovind's address to the Lok Sabha and Rajya Sabha assembled together in the Central Hall and chambers of both the Houses in view of the COVID-19 situation.
A total of 10 members of Hizbul Mujahideen, Lashkar-e-Tayiba and other proscribed outfits were on Tuesday designated as terrorists by the Union ministry of home affairs under the Unlawful Activities (Prevention) Act.
The Gujarat International Finance Tech-City, or Gift City, is expected to be spread over 886 acres and will have a special economic zone on 261 acres.
While nearly 200 members were present in the Lok Sabha chamber, a little over 30 were seated in the visitors' gallery located above the main chamber.
Six of the seven Bills listed on the agenda of the Rajya Sabha have already been passed by the Lok Sabha.
The special package assistance would be used to augment irrigation structures in drought-prone areas to address the agrarian distress and drinking water crisis.
According to the third batch of supplementary demands for grants tabled in the Lok Sabha, approval is being sought for gross additional expenditure of over Rs 1.58 lakh crore.
It was after a gap of two decades that saw such an occasion where MPs of the upper house enthralled their fellow colleagues at a dinner hosted by Chairman and Vice President M Venkaiah Naidu for 72 retiring members.
The Enforcement Directorate (ED) on Monday conducted raids at over a dozen locations in Chhattisgarh including at premises linked to state Congress leaders as part of an ongoing probe into the alleged coal levy scam, officials said.
Top on the government's agenda would be getting Parliament's approval to the budgetary proposals and presentation of the budget for the Union Territory of Jammu and Kashmir.
This will be the first time since the presentation of independent India's first budget on November 26, 1947, that the documents containing income and expenditure statement of the Union government along with finance bill, detailing new tax and other measures for the new financial year, will not be physically printed.
Parliamentary standing committee on labour, led by Biju Janata Dal MP Bhartruhari Mahtab, has said in its report that it is unjustifiable for owners to pay workers' wages during natural calamities.
Merely bringing down the government stake below 51% may not find any taker for the PSBs. The government must bring down its holding to at least 26%, recommends Tamal Bandyopadhyay.
The Congress has sought action against Enforcement Directorate officials who 'selectively leaked' to some media houses information related to Rahul Gandhi's questioning, as the party also served a legal notice on three Union ministers over the issue.
Opposition presidential candidate Yashwant Sinha on Monday filed his nomination papers for the July 18 election, with a host of leaders including Rahul Gandhi, Sharad Pawar, Akhilesh Yadav and Farooq Abdullah accompanying him.
Sitharaman also listed out various welfare schemes like affordable housing, direct benefit transfer and Ayushman Bharat.
Unlike the 2012 manifesto, the BJP has chosen not to make any extravagant promises.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
"I don't want to be decided by the prime minister but he knows what he is saying is not true," Singh told reporters after casting his vote at Dispur Government High School in Guwahati.
Finance Minister Nirmala Sitharaman on Tuesday said the government is working out a new Bill on cryptocurrency which will be placed in the ongoing session of Parliament after approval of the Union Cabinet. The ongoing winter session is scheduled to end on December 23. Replying to a series of questions in the Rajya Sabha, she said the new Bill takes into account the rapidly changing dimensions in virtual currency space, and incorporate features of the earlier Bill that could not be taken up.
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With the government pushing key reform measures like insurance and coal block allocation, Finance Minister Arun Jaitley said the country cannot wait even if one of the Houses of Parliament "waits indefinitely".
Your financial goals are of utmost importance and the tax saving is an added incentive, advises Dwaipayan Bose.
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