In the midst of third wave of COVID-19, Finance Minister Nirmala Sitharaman has come up with an impactful Budget which is balanced, fiscally prudent and growth-oriented, the USA India Chamber of Commerce has said. President of the Boston-based USA India Chamber of Commerce (USAIC) Karun Rishi, however, said it is a matter of concern that the budget lacks tangible measures to increase revenue generation. "Opting to keep the fiscal deficit at 6.9 per cent and increase capital expenditure by 35 per cent is a masterstroke. "The annual budget estimates the effective capital expenditure of Rs 10.68 lakh crore in 2022-23, making up about 4.1 per cent of the GDP," he said. "A phenomenal increase in the government's capital expenditure is likely to facilitate the expenditures on infrastructure and create jobs.
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.
Issuance of new bank licences proves that the apex bank wants the financial sector to flourish.
CBI had lodged an FIR on May 15, 2017, alleging irregularities in Foreign Investment Promotion Board clearance granted to INX Media group for receiving overseas funds of Rs 305 crore in 2007 during Chidambaram's tenure as union finance minister.
The Union Cabinet, headed by Prime Minister Narendra Modi, also observed silence for two minutes in the memory of Mukherjee.
Delhi BJP MLA O P Sharma, who is at the centre of a controversy in connection with the violence in Patiala House court complex, on Tuesday claimed that a group of people had hit him and that his action as "natural".
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.
The council also cut GST rates on affordable housing to 1 per cent from the current 8 per cent.
The bills were passed by voice vote.
They said that massive public investment in infrastructure, social sectors and agriculture would generate employment and the Union Budget should give it a priority and allocate necessary funds for this.
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.
Finance Minister Nirmala Sitharaman on Monday used her trademark 'bahi-khata', a ledger wrapped in a red-coloured cloth, to carry Budget documents as she arrived in Parliament House to present her third straight Budget. Sitharaman, India's first full-time woman finance minister, had in July 2019 ditched the colonial legacy of a Budget briefcase for the traditional 'bahi-khata' to carry Union Budget papers. She used the same last year and again on Monday.
Piramal Enterprises' bid for debt-ridden DHFL received the most votes from lenders at the close of the voting process on Friday, sources said. Piramal Enterprises' bid received 94 per cent votes as compared to 45 per cent for the US-based Oaktree Capital. Voting was done on various parameters, including qualitative and quantitative.
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.
AAP's presence in both states has complicated the contests for the BJP and its Congress rival.
Mutual funds subscriptions and redemptions will not be permitted on February 1 because all the fund houses in their scheme information documents have declared Saturday and Sunday as "non-business day".
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.
The CM urged all Malayalis to donate one month salary to rebuild the state, where the death toll has now touched 302.
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.
The session, which was earlier scheduled to conclude on April 3, is now likely to be adjourned sine die on March 23, sources said.
Senior Congress leader Jairam Ramesh puts it succinctly: "Arun Jaitley was every non-BJP person's favourite BJP-ite."
Common people expect the government to be aggressive and opt for growth related measures in the upcoming Budget.
Your financial goals are of utmost importance and the tax saving is an added incentive, advises Dwaipayan Bose.
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.
The race to replace Boris Johnson as the Conservative Party leader and the British prime minister entered the final countdown stage on Friday, when voting officially closes for Tory members to choose between former chancellor Rishi Sunak or Foreign Secretary Liz Truss.
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.
The Rajya Sabha approved 15 legislations during the session while the Lok Sabha passed 23 bills, including the GST bills.
Ajit Mishra, vice president, research, Religare Broking, answers your stockmarket queries.
Congress members also vociferously pressed for a discussion on the Comptroller and Auditor General report.
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.
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.
The two-time CM, who had also been the Rajasthan Governor, died at a Lucknow hospital on Saturday after prolonged illness.
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 pre-budget Economic Survey, which is tabled in Parliament ahead of the Union Budget to present the state of the economy and suggest policy prescriptions, quite often misses on the GDP forecast, sometimes by a significant margin. This time, Finance Minister Nirmala Sitharaman will table the Economic Survey for 2021-22 in the Lok Sabha on Monday soon after the President's address to both Houses of Parliament. She will present the Union Budget for the next financial year beginning April 1, 2022, on Tuesday.
Cap on bank withdrawals to be reviewed after Dec 30, says finance secy.
Evidently, households see a brighter future after the Budget, reveals Mahesh Vyas.
As vice president and ex-officio chairman of the Rajya Sabha, Jagdeep Dhankar is inheriting a troubled legacy. Although the government faces no real numerical challenges in the Upper House, political and legal challenges are there aplenty.
Here's a recap of the events from the past 24 hours.
