Finance secretary Ajay Bhushan Pandey on Sunday hinted that the government was working on another stimulus package but he refrained from giving a timeframe.
The free food scheme is driven by electoral considerations, but its long-term fiscal risks outweigh the short-term gains, cautions A K Bhattacharya.
Good monsoon is likely to create more jobs in the agriculture sector, which in turn could save the exchequer around Rs 10,000 crore
Finance Minister is unhappy over lack of storage capacity.
The result is a big blow to the military establishment, revealing the limits of 'political engineering'. It reflected the anger of the electorate, especially its younger voters, who have spoken decisively against the persistent harassment and victimisation of Imran Khan's political party, asserts Rana Banerji, who headed the Pakistan desk at RA&W.
A 14-member council of ministers was sworn in Patna by Governor Phagu Chauhan on Monday and the BJP bagged seven berths.
Kejriwal, who is also the national convener of the AAP, won the confidence motion with the support of 54 MLAs and said no legislator of his party defected.
In the case of the killing of the IAF personnel in a terror attack in Srinagar in 1990, the court had summoned two witnesses for identification, but they could not appear citing medical reasons, Bhat said, adding that both of them had to come from outside.
Electric vehicle (EV) sales in India topped the 1 million mark in less than nine months in 2023, a milestone that took an entire year in 2022. According to data from the Ministry of Road Transport and Highways' Vahan Dashboard, 1,037,011 EVs were registered with regional transport offices till September 19, accounting for 6.4 per cent of the total automobile sales in the country this year. The sales surge can be attributed to increased individual purchases as well as business-to-business (B2B) acquisitions by EV fleet operators, industry sources said.
Among the Sensex firms, Asian Paints, Tata Steel, HCL Technologies, Nestle, Maruti, JSW Steel, NTPC and Larsen & Toubro were the major laggards. Sun Pharma, Bajaj Finserv, Reliance Industries, State Bank of India and Bharti Airtel were the gainers.
'The people of Tamil Nadu in particular Chennai know about the double standards of the BJP. Nothing will work for them here.'
The preparations for the next Budget have already started.
Debt mutual funds are likely to be stripped of the long-term tax benefit if they invest less than 35 per cent of their assets in equities. Such mutual funds will attract short term capital gains tax. The government is likely to make such a proposal in the form of an amendment to the Finance Bill 2023 in the Parliament, sources said.
This is the fourth such recruitment drive proposed to be undertaken by the Narendra Modi government which had in 2018 initiated lateral entry.
I&B Ministry, Prasar Bharati are in tussle over ministry's directives, reports Shreya Jai and Arindam Majumder.
Union Tourism Minister Shripad Naik on Friday said that having Arvind Mayaram as the new secretary in the ministry would be of great help.
Media has raised the issues that new pricing to benefit Reliance Industries.
There has been criticism of the official statistics ever since MoSPI came out with new methodology to estimate the GDP on the base year of 2011-12 compared to earlier 2004-05.
Ali Mohammad Mir, who is the prime accused in the kidnapping case after Malik, had taken Rubaiya Sayeed in his vehicle to Sopore from Srinagar and kept her at a guesthouse.
So how do you rate the Modi government's 11th budget?
Sharif, the three-time former premier, said that there is a need for all the political parties to sit together and form a government to pull Pakistan out of its difficulties.
In an update posted on X, the Israeli defense forces said that dozens of warplanes attacked more than 80 targets throughout Beit Hanon during the night.
Chaudhary Charan Singh, who on Friday was conferred with India's highest civilian award Bharat Ratna, is popularly known as a champion of farmers.
Billionaire Gautam Adani to two Union Ministers and Maharashtra Deputy Chief Minister Devendra Fadnavis among others on Sunday hailed India crossing $4 trillion mark though there was no official confirmation if the country has achieved the landmark. The finance ministry and the National Statistical Office did not immediately comment on the viral social media post on India's GDP crossing $4 trillion. Highly placed sources said that the viral news was incorrect and India was still shy of that landmark.
As Pranab Mukherjee resigned to contest the Presidential poll, Prime Minister Manmohan Singh on Tuesday took charge of the finance ministry portfolio at a time when the country's economy is going through a bad phase.
The RBI was not party to the decision to demonetize 500 and 1,000-rupee notes, which was taken at the highest level of India's political leadership.
The finance ministry will have to rely on the weapons in its arsenal, since monetary policy is not providing the support.
The GST revenues for August 2023 have shown a growth of 11 per cent year on year due to increased compliance and less evasion, Revenue secretary Sanjay Malhotra said on Friday. The collection from Goods and Services Tax (GST) was Rs 1,43,612 crore in August 2022. "Roughly numbers are in the range of 11 per cent year on year growth as in earlier months," Malhotra told reporters.
'The Budget that Mr Jaitley will present on February 29 will be crucial.'
While the corporate sector has benefited from massive capital expenditure, leading to sky-rocketing stock prices, investors would do well to keep an eye on the macroeconomic picture and government finances, not just corporate profits, for signs of trouble, alerts Debashis Basu.
Coming Wednesday, Finance Minister (FM) Nirmala Sitharaman will present the 2023 Union Budget - the last full Budget ahead of the 2024 Lok Sabha elections. While India exited 2022 as a relatively bright spot in the global economy, the FM will endeavour to present a Budget that insulates India's economy against global headwinds and recession in advanced economies, while sticking to the path of fiscal consolidation. In this, she is being helped by her core team of trusted advisors.
Finance ministry asks bank, insurance & market regulators to issue notifications
The finance ministry has rejected the formula and, instead, suggested an alternative that takes into account well-head prices of suppliers in Qatar, Oman, Abu Dhabi and Malaysia.
GST collections rose 12 per cent to over Rs 1.49 lakh crore in February, the finance ministry said on Wednesday. February 2023 witnessed the highest cess collection of Rs 11,931 crore since implementation of GST. The collections are, however, lower than the second highest Goods and Services Tax (GST) mop-up recorded in January at over Rs 1.57 lakh crore.
Seven of the meetings will be held in late November or early December at the finance ministry, as is the norm.
In a breakthrough that could end the political uncertainty in Pakistan, the Pakistan Muslim League-Nawaz and the Pakistan Peoples Party have agreed on a power-sharing deal to form a new coalition government after intense negotiations following a fractured poll verdict.
A decision to this effect has been taken after Arun Ramanathan retired as finance secretary on Thursday. Currently, Chawla is the senior-most official in the finance ministry. In addition, G C Chaturvedi, currently serving as additional secretary in the ministry of health and family welfare, has been appointed as additional secretary in-charge of the financial services department.
It had earlier proposed cutting it down to Rs 250 crore due to slow progress in enrollment of new employees.
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