The panel's report also provides a range for fiscal deficit and debt path of both the Union and states and also recommended additional borrowing room to states based on performance in power sector reforms. Finance Commission is a constitutional body that gives suggestions on Centre-state financial relations. The report of the 15th Finance Commission was tabled in the Lok Sabha by Finance Minister Nirmala Sitharaman.
Overseas bourses may take similar action and stop providing data on foreign indices and commodities traded in India, Ashish Chauhan, chief executive officer, BSE said.
'Wherever in the world there is political instability, those countries are beset with severe crises today. But India is in a much better position than the rest of the world due to the decisions taken by my government in the national interest,' President Droupadi Murmu said in her address to both Houses of Parliament.
It is a record that the saffron party has created, where the majority of its legislators belonged to the minority community.
Finance Minister Nirmala Sitharaman on Thursday reiterated that an international arbitration ruling on India's sovereign right to taxation sets the wrong precedent, but said the government is looking at how best it can sort out the issue arising out of New Delhi being ordered to return $1.2 billion plus interest and cost to UK's Cairn Energy Plc. The government, which participated in an international arbitration brought by the Scottish firm against being taxed retrospectively, has appealed against The Hague based tribunal's ruling asking the government to return the value of shares expropriated and liquidated, tax refunds withheld and dividend seized to recover a wrongly levied retroactive tax demand.
Gandhi also called upon the government to immediately put money into the hands of the poor and provide a financial package to the industry to help revive the economy.
'A strong foreign exchange reserve is the best safety net against global spillovers.'
India needs to tread cautiously on the growth path.
'It is never a good idea to let the broad population determine policy that is the domain of experts and specialists,' notes Aakar Patel.
Air India's earnings of one-two per cent of total air cargo business of Rs 900 crore per annum is almost negligible.
There was no announcement from the government on guaranteeing a minimum basic income, which is the need of the hour. The announcements on portability of ration cards and affordable rental housing to workers are for the long and medium terms. Migrant workers need immediate relief.
Even if the extradition bill has been suspended, Beijing will eventually impose its system on Hong Kong, observes Nitin Pai.
Leading property developers, such as Oberoi Realty, Tata Realty and Infrastructure, and Hiranandani, have turned to redevelopment of existing buildings in the expensive parts of Mumbai as a way of augmenting revenue. Experts estimate that Mumbai's redevelopment projects could be worth Rs 30,000 crore. As such, they are not new. What is new is that the big developers are interested in them. Leading the race is Oberoi Realty, which has set up a separate team for these projects.
Demand has also jumped from abroad, including the European Union and America.
Four decades of federal evolution made India more secure, but coronavirus is reversing that. Modi's central government has tasted power again and is unlikely to give it up, notes Shekhar Gupta.
At least two of them - Lava and Micromax - are arming themselves against the Chinese rivals which made them insignificant in the local market over the past few years.
'We have set out a timetable to reduce income tax rates for all incomes below Rs 50 lakh, and to progressively eliminate the surcharges on income above Rs 50 lakh, by 2024.' The Budget speech past CII president Naushad Forbes wants to hear.
'The numbers are null and void now. Look, we can give out projections now, but we know that a week later those numbers will also be irrelevant. So we need to wait,' a top government official said.
Hitting out at the opposition BJP over its 'lust for power' and 'dirty politics', Thakur said that Maharashtra has given a new formula to the country. She also said that the Shiv Sena-led Maha Vikas Aghadi (MVA) government was stable.
The National Alliance of Women's Organisations released the 'Womanifesto' for consideration of all political parties for the upcoming Lok Sabha elections.
Government is framing a rule that will make it compulsory for regulators like Sebi, Irdai and PFRDA to deposit a significant portion of their reserves into the Consolidated Fund of India.
Deepika Kumari is a story of grits, guts and gumption.
Chief Minister MK Stalin has shown that he is cut from a different cloth when it comes to embracing what is current, modern and absolutely necessary. Thus, even while retaining the spirit and content of the pan-Tamil, Dravidian socio-political and socio-economic ideology to the 't', his government has also acknowledged the need to accepting scientifically-proven facts in operational matters, says N Sathiya Moorthy.
'Even before the outbreak of the flu, it had become clear that the tax revenue numbers for 2019-2020 were overestimated,' observes A K Bhattacharya.
'The recalculated ranking showed India should have had a higher ranking earlier (113 in 2012 instead of 132) and lower ranking later (114 in 2018 instead of 100).' 'This would mean that there has been no change in India's climate of doing business across two regimes.' 'This is exactly consistent with the reality on the ground,' observes Debashis Basu.
Major no-frill carrier IndiGo expects to continue its profit-making streak this financial year too, as it plans to increase frequencies on select international routes soon.
'The business continuity clause will mean the Tatas will have to keep running the airline for three years, and cannot exit the flying business.'
'This is not without risk because extraordinary steps taken in exceptional times have the habit of becoming habits until the next crisis intervenes,' warns T N Ninan.
The failure to reform has meant that there is no buzz about job opportunities, or about urban opportunities enticing young people off the farms. And it is this failure that has contributed to the widespread disappointment that threatens to make the next general elections closer than expected, says Mihir S Sharma.
The government has sanctioned a dozen fresh SSB battalions, comprising over 13,000 personnel for the Nepal and Bhutan borders guarding force, to "fortify" defences along these fronts including the tri-junction area in Sikkim that adjoins Bhutan and Tibet, officials said.
Shutting of stores had not stopped alcohol sales. On the contrary, it had increased black market operations and peddling of illicit hooch, which could cause death/serious injury.
The panel may include or seek inputs from former RBI Governor Urjit Patel, former chief economic advisor Arvind Subramanian, Sajjid Chinoy of the PM-EAC, Rathin Roy, among others.
Gota has to decide if he could order elder brother Mahinda's arrest as the agent provocateur of Monday's violence. Then he has to prepare for an interim government, in which no one would now want to become a cabinet minister leave alone prime minister, explains N Sathiya Moorthy.
The company plans to collaborate with stopover management consolidators, who will participate in the bids to develop food courts and rest areas along the highways. Such stopovers will house multiple restaurant brands, reports Avishek Rakshit.
The IMF expressed its opposition to any move that compromises the independence of central banks anywhere in the world.
'The term 'pro-growth' must be qualified somewhat because, while a rising tide will lift all boats, it will not necessarily do so equally.'
Senior international Olympics official John Coates said on Saturday the delayed Tokyo Olympics could end up being the greatest Games ever, coming next year as the world emerges from COVID-19 crisis. Coates, Australia's Olympic chief and head of the International Olympic Committee's inspectorate for the Games, cited the examples of positive Summer Games that followed the two world wars of the 20th century. The Tokyo Games were postponed for a year to 2021 in the aftermath of the new coronavirus outbreak.
Arsenal have signed forward Nicolas Pepe from French club Lille for a club-record fee, the Premier League side said on Thursday.
The Delhi high court on Friday directed the Delhi government and the police to ensure that the number of Afghan nationals, protesting outside the UNHCR office in New Delhi and seeking refugee status, is suitably reduced and they strictly follow Covid-19 appropriate protocol.
