The reduced growth is largely because of consumption slowdown and tax rate cuts.
Tharoor argued that the proposed bill represents a "grave chapter in the history of the Indian republic, seeking to ratify an ordinance that in many ways is an assault on our democratic heritage and the spirit of federalism."
Subhash Chandra Garg, the former finance secretary who was shunted out of the finance ministry within three weeks of Modi-2.0 government's first budget last year, on Saturday alleged that new Finance Minister Nirmala Sitharaman got him transferred out.
Taking advantage of the RBI's different accounting year, the Centre had started demanding an interim dividend till the time the latter's final balance sheet is prepared (usually in August). To address this anomaly, an expert committee led by former RBI governor Bimal Jalan had recommended aligning the RBI's financial year with that of the government.
The total direct tax collection stands at a little over Rs 9 trillion, giving the taxman just few days to reach the 2018-19 revised target of Rs 12 trillion., reports Shrimi Choudhary.
Ayushman Bharat aims at providing a cover of Rs 5 lakh per family annually and is aimed at benefitting more than 10 crore poor families across the country.
Total burden on the exchequer will increase by Rs 12,000 crore to Rs 87,217.50 crore for the year 2019-20.
The government's total debt increased by 2.6 per cent to over Rs 46 lakh crore in the third quarter ended December, compared to the previous three months of the current financial year.
The armed forces are quite happy with the attention paid to their concerns, reports R S Chauhan.
The fiscal deficit for 2015-16 may eventually come down to the targeted level of 3.9 per cent of GDP.
Chidambaram also hit out at senior BJP leader Yashwant Sinha, saying his performance as finance minister.
The minister said it was important to have a flag carrier.
Enunciating slew of measures initiated by the UPA to augment the sector, the finance minister said 19 oil and gas blocks were given out for exploration and 7 new airports are under construction.
It was not immediately known if Modi acceded to Jaitley's request.
"So you will not have anything better... democracy loving, capitalist respecting environment... in India," Sitharaman said at the event hosted by the Federation of Indian Chambers of Commerce and Industry in association with the US India Strategic and Partnership Forum.
The continued rise in interest is a pressure on fiscal, but it is not an easy way out unless the government cuts back on populist measures and sticks to fiscal prudence as laid out in the FRBM, which the government missed for the second consecutive year.
Sitharaman is presenting the full Budget for 2019-20. She is carrying the Budget documents in a red silk bag with national emblem.
He also said that a decision regarding reopening of pre-university and degree colleges will be taken after assessing the situation.
Chief Economic Advisor Arvind Subramanian's interview.
The point to note is that since the new rebate is up to a taxable income of Rs 5 lakh, if anyone earns even little more (say, even Rs 100 more) than this amount, he would have to pay all the taxes, according to the existing slabs.
There appears to be a growing perception among the political class that faster growth will not create jobs fast enough and, therefore, welfare spending needs to be drastically increased, says T T Ram Mohan.
If, as promised, the refunds are done within 24 hours it will obviate one of the biggest reasons that taxpayers distrust the tax department -- delayed refunds especially in cases of large refunds.
Leader of the Opposition in Rajya Sabha Mallikarjun Kharge on Sunday wrote to Prime Minister Narendra Modi and Rajya Sabha Chairman M Venkaiah Naidu and suggested to convene an all party meeting and virtual meetings of Parliament Standing Committees to discuss the COVID-19 situation in the country.
Specially designated global terrorist Sirajuddin Haqqani, who carries a reward of $10 million US bounty on his head, is the acting interior minister while his uncle -- Khalil Haqqani -- has been named as acting minister for refugees.
'The Budget that Mr Jaitley will present on February 29 will be crucial.'
A high-level panel led by former RBI governor Bimal Jalan, set up to decide the appropriate capital reserves that the central bank should maintain, on Wednesday finalised its report.
While the likelihood of these states going the Lanka or Greece way may be an alarming assessment, the financial situation of some states such as Punjab and West Bengal is indeed quite weak.
'The government's projections for 2019-2020 will be disappointing big time.'
Mumbai collected Rs 17,174 crore of advance taxes against Rs 7,356 crore in the same period last year. The tax authorities believe that such a staggering growth rate is a positive sign for the economy.
The rupee had gained nine paise to close at nearly one- month high of 61.84 against the dollar in yesterday's trade after the government said in the interim Budget that fiscal deficit this financial year will be capped below target.
There is talk of a fresh approach to a new labour code as well as reforming land acquisition laws in such a way as to be politically.
The government is likely to overshoot its FY14 fiscal deficit estimate by 0.2-0.3 per cent to 4.8- 4.9 per cent as tax revenues have not been up to expectations, DBS said.
Economists have said if a stimulus is needed it should be different from what was provided in 2008-09, when the economy faced the ripple effects of a global meltdown following the Lehman Brothers collapse.
The apex court observed that the government could not deny benefits to those who did not have not Aadhaar numbers.
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After gaining Rs 235 in last three sessions, gold further spurted by Rs 465 to Rs 31,450 per ten grams, a level last seen on December 12.
Ahead of the Economic Survey, industry body Ficci today lowered its GDP growth forecast for the current fiscal, pegging India's economic expansion rate at 5.3 per cent compared to its 5.5 per cent previous estimate.
SBI raised Rs 8,032 crore (Rs 80.32 billion selling 5.13 crore shares through a QIP in January.
Jaitley, 66, has become 'very weak' as his health has deteriorated over the past few weeks, sources said, adding that he has developed some throat condition as well that prevents him from speaking for long.
'The Modi regime is not willing to use its huge political capital for taking any economic policy measure that it fears might undermine that political strength, says A K Bhattacharya.
The Defence Minister said it has been decided to give women permanent commission in the Army, Navy and the Air Force like their male counterparts.
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