Police in Lucknow busted a gang that misused the Mudra loan scheme to create fake GST firms and commit input tax credit fraud worth approximately Rs 1.3 crore.
The Reserve Bank of India (RBI) brass, including its Governor Sanjay Malhotra, on Tuesday told a Parliamentary panel that it was "optimistic" about the impact of the US tariffs on the Indian economy and, in long-run, it could benefit the country due to dipping trade relations between the US and China.
Even if Mudra steps in to play its main role of refinancing at some stage, the responsibility for the bad loans remains with the banks.
Introducing the 128th Constitution Amendment Bill, which was approved by a two-thirds majority in the Lok Sabha on Wednesday, Meghwal recounted the measures initiated by the Narendra Modi government for the empowerment of women over the last nine years.
'Banks may find small ticket size lending economically unviable due to the cost of branch operations.'
'Degrees get you into the room, it is the attitude that counts,' says adman Madhukar Kamath.
'Today, let us reaffirm our commitment to strive to realise Gandhiji's dreams. His watchwords, truth and nonviolence, will continue to remain relevant for the whole world. He also taught us that rights and duties are but the two sides of the coin - indeed, the true source of rights is duty. Today we recall his lessons in compassion too - compassion not only for our human neighbours but also for our other neighbours, namely, flora and fauna, rivers and mountains.'
Rural populations will get will get employment in the industrial corridors following amendments to the land acquisition bill.
Experts have started giving comments on provisions that the govt must make in Budget 2016-17.
'We want to send a notice to the BJP that Rajputs are no longer their slaves.'
Whether it was the MGNREGS or the NFSA or the Aadhaar-based DBT scheme for cash transfer, the Modi government has built on the basic architecture created by the Singh government. Policy makers in the Modi government, instead of discarding them as products of the previous political regime, worked on them, expanded their scope and reach, and used new tools to improve their performance, explains A K Bhattacharya.
In the second and concluding part of his interview, Gurumurthy outlines the two areas he believes the government should focus on.
Public sector banks have lost nearly Rs 2.85 lakh crore on account of loan dues of 13 corporates even as the banks are used to bail out ailing financial institutions such as Yes Bank and IL&FS, United Forum of Bank Unions alleged on Monday. In a press release, UFBU's convener B Rambabu said the organisation calls for a two-day all India bank strike on December 16 and 17 protesting against Banking Laws (Amendment) Bill 2021 and opposing the Centre's alleged move to privatise PSBs. According to the statistics given by the UFBU, the 13 corporates' outstanding dues were at Rs 486,800 crore and it was resolved at Rs 161,820 crore resulting in a loss of Rs 284,980 crore.
Farmers have suffered a lot on account of natural calamities.
Alipay payment service is about bringing the world's consumers and businesses together.
The government is exploring legal options, including bringing an Ordinance, to tackle the problem of income-tax litigation on reassessment notices under old, time-barred norms, according to official sources. This has come in the wake of writ petitions filed by companies and individuals in recent weeks to challenge the validity of the notices issued by the tax department between April 1 and June 30 and under the old norms.
With his strong views on Bharatiya economics, his appointment to the RBI board may well presage interesting times, says Archis Mohan.
A political party's manifesto is the first stage of building a compact with the voters in any governance plan. If that compact is dependent on a document that reeks of fiscal imprudence and lacks credibility, it is a serious setback to the country's democracy and governance, says A K Bhattacharya.
Replying to the general discussion on Budget in Lok Sabha, she said the former Congress chief was creating fake narratives but does not have patience to listen to replies on allegations levelled against the government.
Addressing the joint session of Parliament at the beginning of the Budget Session, President Ram Nath Kovind said, "The government has been working to fulfill hopes and aspirations of all sections of people."
Finance minister Arun Jaitley has few feathers in his cap for taking serious eff
He assured the startups that both the banking system and the government will make the resources available to them
If Modi's truly a reformer and a believer in minimum government, he would bury the Vodafone ghosts now. He would also then go to Bihar, campaigning on his politically controversial reforms. Both will need him to dip deep into his accumulated political capital and risk it, suggests Shekhar Gupta.
The RBI panel has also recommended a government-sponsored 'fund of funds' of Rs 10,000 crore to support the venture capital and private equity firms investing in the MSME sector.
'Should you give a man fish, or teach him how to fish?' 'Lurking hidden in the new bout of welfarism seems to be an admission that the State can't deliver for the poor anything other than cash,' notes T N Ninan.
Prime Minister Narendra Modi hit out at the Congress for "misusing" Parliament to stop the country's growth and hailed Samajwadi Party chief Mulayam Singh Yadav for "understanding this conspiracy" and working to end the logjam in the House.
The outcome is beyond the market's expectation and will be a sentimental boost, say analysts.
Here's the full text of President's Ram Nath Kovind's address to the joint sitting of both houses of Parliament on the first of Budget Session 2022.
He said while the previous UPA government hid the bad loans, his government has properly recognised them and brought tough laws to deal with defaults and recovery money.
Fiscal discipline has been maintained but toxic assets worth Rs 7 crore are a massive headache
He also lashed out at the Congress for its opposition to the GST and for dubbing it as 'Gabbar Singh Tax'.
Amid a controversy over the recent the JNU row, the BJP said freedom of expression does not give a right to call for the country's destruction.
Here's the full text of President Ram Nath Kovind's customary address to the joining sitting of Parliament on the first day of the budget session.
Finance Minister Arun Jaitley on Monday presented the Union Budget for 2016-17.
In the first part of an exclusive interview with Sheela Bhatt/Rediff.com on the eve of the first year of the Narendra Modi-led NDA government, BJP President Amit Shah talks about the government's achievements and the controversy over the land ordinance.
'Life will not improve overnight; it will happen in a gradual manner.'
Prime Minister Modi highlighted the importance of public participation in a democracy and said that the definition of democracy could not be restricted only to elections and the governments.
Next time you swipe, ask yourself, do you really need it or do you just want it?
The government, he said, has implemented 'bold reforms'.
Softening the demonetisation blow, the Budget for 2017-18 on Wednesday halved the tax to 5 per cent on incomes up to Rs 500,000 but proposed a new surcharge of 10 per cent on incomes between Rs 50 lakh and Rs 1 crore and raised duties on cigarettes and pan masala while stepping up allocations for infrastructure, rural, agriculture and social sectors.
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