With Deputy Governor Viral Acharya and another member Chetan Ghate voting for a status quo, RBI governor Shaktikanta Das and three others outvoted them for reduction in repo rate to 6.25 per cent from the existing 6.50 per cent.
With an eye on the forthcoming general elections, Railway Minister Lalu Prasad on Friday presented a feel good, populist interim Railway Budget in Parliament, cutting mail and express train fares by 2 per cent and keeping freight rates unchanged.
Credit rating agency ICRA on Tuesday warned that fiscal deficit will cross 4.8 per cent of GDP during 2003-04, as it was projected by the government in the interim budget.
In a bonanza to its employees ahead of the ensuing Lok Sabha elections, the government on Friday decided to merge 50 per cent of dearness allowance with the basic pay
Finance Minister Jaswant Singh on Tuesday projected a growth of 7.5-8 per cent for the fiscal 2003-04 in the face of strong economic fundamentals.
Finance Minister Jaswant Singh on Tueday presented the Interim Budget for 2004-05 in the Lok
It is unclear if he would be renamed the finance minister soon after his return.
The government has approved the 'Terms of Reference' for the 16 Finance Commission, which makes recommendations on sharing of tax revenues between the Centre and states. The recommendations would cover a five-year period commencing April 1, 2026, Information and Broadcasting Minister Anurag Thakur said on Wednesday, giving details about the decisions taken at the Cabinet meeting last evening. The commission would submit its report by October 31, 2025, Thakur said.
The government of India had budgeted to bring down fiscal deficit to 4.8 per cent of GDP in the current financial year, from 4.9 per cent in 2012-13.
Besides LTCG tax relief, permitting taxpayers to declare two houses as self-occupied brings a huge relief.
This time, five states, including Tamil Nadu, have requested the Centre to delay the pay hikes.
President Ranil Wickremesinghe on Wednesday thanked India and Prime Minister Narendra Modi for giving Sri Lanka 'a breath of life' by providing timely economic assistance to his country as it faced the worst economic crisis in decades.
Railway Board chairman SS Khurana, in an interaction with the media after the Interim Rail Budget, said the railways would lose Rs 700 crore (Rs 7 billion) annually following the fare cut. He also pointed out that the ministry would continue to optimise freight earning through its dynamic pricing policy.
Around 40 per cent of the country is staring at drought-like conditions ahead of the monsoon as water levels have receded sharply.
No increase in passenger and freight fares. Ticket reservations over mobile phones to be introduced soon.
Railway Minister Lalu Prasad on Friday presented a populist interim Railway Budget in Parliament.
'On the tax front, most of the Budget proposals are sensible'.
Nirmala Sitharaman is proving to be a better finance minister than her initial rookie status might have led people to expect, observes T N Ninan.
Ad rates on regular days are less than half, media planners said.
A total of 5,400 unmanned level crossings were eliminated in the last one year.
You don't prep for 2028 but for 2040, or even 2044. Sustained sporting excellence is based on mass support, grassroots development, and funding - and it is this trifecta India needs to work on, systematically, asserts Prem Panicker.
Governments make budgets to retain and consolidate their hold on power, not to please opponents or economists. They do so by trying to gratify as many as possible without causing harm to the others, says Shreekant Sambrani.
Jaitley is now a minister without portfolio in the Narendra Modi government.
Union Budget 2015 cuold have included few smaller reforms.
Yes Bank was the top loser in the Sensex pack, crashing 8.36 per cent, followed by NTPC, M&M, Vedanta, Sun Pharma and TCS, which lost up to 4.81 per cent lower.
Inflation is on a declining trend, Eco Survey stated.
The direct tax collections are likely to fall short of the revised Budget target by Rs 650 billion and, in fact, were Rs 150 billion lower than the original estimate for the fiscal
All banks are eligible for privatisation. A committee of secretaries will decide which banks will be privatised, says Financial Services Secretary Debasish Panda.
The new Chief Economic Advisor Krishnamurthy Subramanian believes that more than unemployment, it is the quality of employment which needs to be focused on. In an interview with Arup Roychoudhury and Indivjal Dhasmana, Subramanian said that controlling inflation was the Modi government's biggest achievement.
The review will not only present data, trends but also list out the achievements of the Narendra Modi government
There is a large population standing outside the coverage of primary healthcare, says Praveen Gupta of Raheja QBE.
This will violate the time-honoured convention that a government elected for a five-year tenure presents only five full Budgets, but the NDA government will no doubt present it as yet another initiative of Mr Modi.
