'As a result of delays, the desired reliefs are not coming for taxpayers.'
Officials said the government is keen to conform to the convention of the Union Budget for 2026-2027 being presented on February 1 despite it falling on a Sunday in 2026.
Power Ministry said on Wednesday it is working on a legislation to fix more responsibility on the states for the financial health of the electricity boards.
To enable Indian banks and financial institutions to develop an aircraft-leasing ecosystem at GIFT City, the Ministry of Civil Aviation has sought support from the Ministry of Finance. It has also raised concern over slow progress in developing aircraft leasing in India.
The All India Muslim Personal Law Board (AIMPLB) has called for a nationwide 'lights out' protest from 9 PM to 9:15 PM on April 30 to oppose the amendments made to the Waqf Act. The AIMPLB spokesperson, SQR Ilyas, stated that the protest is a symbolic expression of solidarity against the 'discriminatory and constitutionally incompatible' amendments. The Board has been running a campaign against the amendments since April 10, organizing meetings and protests across the country.
Payments banks have urged the Union finance ministry to increase their deposit limit for each account to Rs 5 lakh, according to a source who participated in a meeting, chaired by the Department of Financial Services Secretary M Nagaraju, in New Delhi. At present, they can accept deposits of up to Rs 2 lakh.
Andhra Pradesh Chief Minister Chandrababu Naidu showered gifts on Finance Minister Nirmala Sitharaman when he met her in New Delhi on Wednesday, March 5, 2025.
'If you are not prudent, you may exceed your budget, and if it happens too often, you may end up in debt.'
Even as some government departments have raised concerns on the Bill in its present form, the finance ministry has decided not to delay any further and may table it in Parliament next week.
The government on Thursday proposed to tighten the norms for taxation of cryptocurrencies by disallowing set off of any losses with gains from other virtual digital assets. As per the amendments to the Finance Bill, 2022, circulated among the Lok Sabha members, the ministry proposes to remove the word 'other' from section relating to set off of losses from gains in virtual digital assets. This would mean that loss from the transfer of virtual digital assets (VDA) will not be allowed to be set off against the income arising from the transfer of another VDA.
Terming the Bill as a 'non political bipartisan issue,' he hoped to have all political parties on board as the Bill would benefit over 75 per cent of rural households and 50 per cent of urban households in the country.
In an apparent answer to crusader Anna Hazare's team mobilising the masses suffering corruption of the lower level bureaucracy, the government has quietly kicked of drafting of a Bill for creating a mechanism for the public services grievance redressal.
Reliance Energy Ltd on Thursday launched electricity bills in Braille for its visually impaired customers and announced a project to promote Braille literacy among the blind in Mumbai.
Preparing for a showdown, Aam Aadmi Party government tonight said it was going ahead with tabling of the Jan Lokpal Bill in the Delhi assembly on Thursday notwithstanding Union Law Ministry's view that Centre's prior approval was required for it even as Congress and BJP held the move by the ruling dispensation as "unconstitutional".
The government banks on the support of the Bharatiya Janata Party to push the Insurance and LIC Bills in the next Parliament session, but it seems to have adopted different tactics on the Goods and Services Tax (GST) Bill.
Appealing to Anna Hazare to end his fast, the government on Wednesday said it has forwarded Jan Lokpal Bill to Parliament's Standing Committee for consideration and it is up to it to take a decision.
Amid talk of an ordinance on the Food Security Bill, the law ministry has warned that without putting a proper mechanism in place to distribute foodgrains, a law should not be implemented.
India's inflation trajectory in the coming months will be influenced more by the geo-political situation due to the war in Europe and its impact on supply chains and commodity prices. However, the country is better placed than most to "weather the storm" and achieve growth of close to 8 per cent in the current fiscal year, the finance ministry said in its latest monthly economic report on Thursday. "Through the channel of imports, elevated global crude and edible oil prices now have a significant impact on India's inflation outlook. "Government measures to keep the prices of these commodities in check, along with the recent hike in policy rates by the RBI, are expected to temper inflationary pressures in the economy," the monthly economic report for April, drafted by the finance ministry's economic division, said.
V Singh said that "actual farmers are very happy with what has been done in last six months."
The oil ministry has stopped making fresh allocation of natural gas from domestic fields to the city gas sector, threatening the viability of Rs 2 lakh crore investment planned in the sector besides leading to a hike in CNG and piped cooking gas prices to record levels, sources said. Despite a decision of the Union Cabinet to give 100 per cent gas supply under 'no cut' priority to the city gas distribution (CGD) sector, current supplies have been maintained at March 2021 demand level. Besides, the process of allocating gas on a six-monthly average drawl also is punishing the CGD entities driving growth.
The mines ministry on Friday said it has sought the law ministry's advice on how to go about granting leases till the proposed new mining Bill, having provisions for auctioning of mines, is passed.
The provisions in the FRDI bill do not modify current protections for depositors adversely at all, the ministry held, maintaining that these rather provide additional protections in a more transparent manner.
The Life Insurance Corporation of India has the wherewithal to acquire a composite license, a top source aware of the development told Business Standard, adding that the insurance behemoth may look into entering the health and general insurance segments. "LIC has the scale, capacity, IT infrastructure, and the distribution reach to take advantage of the composite license. "LIC is looking at organic as well as inorganic growth opportunities.
India is now much ahead of other large railway networks in the world in terms of electrification -- with the US at just 1 per cent, China at 72 per cent and Europe at 60 per cent.
In the women's doubles, Treesa Jolly and Gayatri Gopichand won 21-18, 21-19 against the Dutch duo of Debora Jille and Cheryl Seinen. Treesa and Gayatri face Chinese Taipei's Hsu Ya Ching and Lin Wan Ching in the quarter-finals.
The finance ministry on Tuesday cited "green shoots" of recovery in agriculture, manufacturing and services sectors, and said the prompt policy measures taken by the government and RBI have helped reinvigorate the economy with minimal damage. Stating that the agricultural sector remains the foundation of the Indian economy, the ministry said that a normal monsoon, as has been forecast, should support the rebooting of economy.
The first set was over in 31 minutes with the No. 4 seed making the most of a weak Raina serve while saving two break points on her own serve.
Spending continues to be less as people who are getting direct benefits from the government are choosing to save in the current situation.
Since no insurance companies share data on their claims with each other, the finance ministry and Irdai suspect that a lot of the resultant claims are duplicates.
The idea is to get the budget passed by Parliament along with Appropriations Bill and the Finance Bill by the end of March as this would ensure implementation of the Budget proposals from April 1.
Images from the English Premier League matches played on Saturday.
Sukesh in a press statement issued through his lawyers Anant Malik and A K Singh stated that Nora Fatehi always brainwashed him against Jacqueline, so she wanted him to leave Jacqueline and start dating her.
The proposals, to be based on the recommendations of the Shome panel, are likely to be introduced in the Finance Bill to be presented by Finance Minister P Chidambaram in the Budget for 2012-13.
This is despite expectations of a stormy session, given the unresolved standoff on the Opposition's insistence on a Joint Parliamentary Committee probe into the telecom spectrum controversy.
The bill to amend payment of gratuity Act in order to double the ceiling of tax-free gratuity to Rs 20 lakh, would soon be placed before the Union Cabinet for approval.
A slew of challenges that are yet to be resolved include the lack of consensus between the Centre and states over the GST exemption threshold limit, dual control over scrutiny and assessment
IMAGES from the English Premier League matches played on Saturday
Manchester City needed a second-half penalty from striker Erling Haaland to break the resistance of a dogged Crystal Palace.
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