While she primed up spending on infrastructure to create jobs and boost economic activity, Sitharaman did not tinker with income tax slabs or tax rates. Her Budget for the fiscal year beginning April 2022 proposed a massive 35 per cent jump in capital expenditure to Rs 7.5 lakh crore, coupled with rationalisation of customs duty, an extension of time for setting up new manufacturing companies and plans for starting a digital currency and tax crypto assets.
The session, which was earlier scheduled to conclude on April 3, is now likely to be adjourned sine die on March 23, sources said.
A day after Finance Minister Arun Jaitley criticised Nehruvian model of development, saying it had held the country back, Union Minister Jitendra Singh on Sunday termed Jammu and Kashmir a glaring example of the "failure" of Nehru's political model.
The two-time CM, who had also been the Rajasthan Governor, died at a Lucknow hospital on Saturday after prolonged illness.
Tamil Nadu Chief Minister J Jayalalithaa on Tuesday met Prime Minister Narendra Modi and did not rule out the support of her party All India Anna Dravida Munnetra Kazhagam to his government in the Rajya Sabha where the ruling National Democratic Alliance is in a minority.
The CM urged all Malayalis to donate one month salary to rebuild the state, where the death toll has now touched 302.
These self-appointed well-wishers of AMU are basically for the control or police model of university governance. They have no faith whatsoever in the democratic functioning of the universities, observes Faizan Mustafa, former dean, Faculty of Law, and Registrar, Aligarh Muslim University.
Senior Congress leader Jairam Ramesh puts it succinctly: "Arun Jaitley was every non-BJP person's favourite BJP-ite."
Minister of state for personnel Jitendra Singh said it is a major step to place the right talent for the right role.
Budget planners for now have been told to prepare with the assumption that GST will apply from April 1.
Violence broke out in Patiala house court complex when groups of lawyers attacked journalists, students and teachers of the JNU.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Noting that the nation got freedom from the British through 'andolans' (protests), he said by that logic Mahatma Gandhi should have been the biggest 'andolanjivi'.
These could include strengthening the public-private partnership (PPP) dispute resolution mechanism, uniform PPP institutional framework, easier terms for infrastructure companies accessing bond markets, and tax sops, Business Standard has learnt. Investment in infrastructure projects with high multiplier effect has been the Centre's main plank to revive the economy, create employment and boost consumption.
In an affidavit filed by Union finance ministry on behalf of the Union of India, it said that the relief to all borrowers in respect of compounding of interest during the period of moratorium would be admissible to the categories specified irrespective of whether the borrowers had availed the moratorium or not.
The government, it would seem, is reserving its firepower to spend on big-ticket items that will be announced in the Budget, reports Subhomoy Bhattacharjee.
Taking a cue from neighbouring Gujarat and its successful Vibrant Gujarat summit, Maharashtra has organised a conclave -Transforming MMR into a Global Financial, Commercial and Entertainment Hub - on February 6.
Given the dismal show of the Congress in the recently concluded assembly polls and the JMM eating into its vote bank, the possibility of Congress MLAs switching sides is not bleak, reports R Krishna Das.
Common people expect the government to be aggressive and opt for growth related measures in the upcoming Budget.
A galaxy of top leaders, including Union ministers Rajnath Singh and Nitin Gadkari and leaders of BJP's allies such as Shiv Sena chief Uddhav Thackeray, Shiromani Akali Dal supremo Parkash Singh Badal and Lok Janshakti Party founder Ram Vilas Paswan were present with Shah.
Owing to the risk perception attached with the segment by banks, the residential realty segment has been increasingly relying on non-banking financial companies and housing finance companies to raise debt financing, reports Abhijit Lele.
Maharashtra is the BRS' first target.
The Rajya Sabha approved 15 legislations during the session while the Lok Sabha passed 23 bills, including the GST bills.
The Tatas have the know-how to quickly close deals which can otherwise get caught in legal wrangle. In 2018, on the day the National Company Law Tribunal declared Tata Steel as the winner of the bid for bankrupt Bhushan Steel, Bhushan promoter Neeraj Singhal was planning to file for a stay order. He did get the case listed for the following day, but the judge did not admit it, deferring it until the following week. The Tatas used the narrow window of 48 hours to close the deal and take control of the company.
US-based Oaktree on Monday pipped Piramal Enterprises and Adani Group to emerge as the highest bidder for DHFL after fresh bids were invited under the insolvency process, according to sources. The committee of creditors had fixed December 14 as the last for submission of revised bids. According to the sources, Oaktree raised the bid to Rs 36,646 crore, including Rs 1,000 crore for insurance and Rs 3,000 crore of interest earned, while Piramal Enterprises offered Rs 35,550 crore, including Rs 300 for insurance and Rs 3,000 of interest earned.
Rejecting criticism of tardy relief operations in flood-ravaged Uttarakhand, Union Finance Minister P Chidambaram has said government was making all efforts and complimented armed forces personnel for their untiring efforts in rescuing the stranded people.
Congress members also vociferously pressed for a discussion on the Comptroller and Auditor General report.
Fifteen Cabinet ministers and 28 Ministers of State were sworn-in by President Ram Nath Kovind at a ceremony at Rashtrapati Bhavan on Wednesday evening.
'The decision to supply free food grains is not an economically sound decision because the government will find it very difficult in future to charge anything for food grains.'
The National Company Law Appellate Tribunal (NCLAT) on Tuesday stayed the order of NCLT Mumbai directing the lenders of DHFL to consider the offer by the debt-ridden mortgage firm's erstwhile promoter Kapil Wadhawan. A vacation bench of NCLAT comprising Acting Chairman Justice A I S Cheema and Member Technical V P Singh stayed the order passed by the Mumbai bench of the National Company Law Tribunal (NCLT). On May 19, NCLT Mumbai had directed the settlement plan offered by Wadhawan to be considered by the lenders of DHFL, one of the lawyers engaged in the matter said.
The fresh suit was filed on Monday in the Delhi high court after Jethmalani accused Jaitley of being 'guilty of crimes and crookery'.
Here's a recap of the events from the past 24 hours.
Cap on bank withdrawals to be reviewed after Dec 30, says finance secy.
The GST will replace more than a dozen levies central and state levies, including central excise duty, service tax and central sales tax as well as VAT on sale of goods and entry tax, to make movement of goods seamless across 1.3 billion market.
The first session of 17th Lok Sabha will commence on Monday, which will see the passing of the Union Budget and some key legislations like triple talaq bill being on top of the government agenda.
Sitharaman said the government also proposes Pradhan Mantri Matsya Sampada Yojana to address critical infrastructure gap in fisheries sector.
Budget for women and children welfare increased from Rs 1,56,528 crores to Rs 1,84,632 crores for 2017-18
A special session of the Kerala Assembly is being convened on Wednesday to discuss the three contentious central farm laws and pass a resolution against the acts, whose repeal is being insisted by farmers agitating at the borders of Delhi for nearly a month.
Sheela Bhatt recounts the tension, suspense and disruptions during P Chidambaram's interim budget in the Lok Sabha on Monday.
Bank employees body AIBEA, which is a major constituent of the United Forum of Bank Employees' Association that has called a nationwide strike, on Tuesday said Finance Minister P Chidambaram rejecting wage demands of bank employees is "unfortunate" and the strike was forced on them.
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