Prime Minister Manmohan Singh began his bureaucratic career as an advisor in the Ministry of Foreign Trade.
Pranab's earlier fear of Sonia relying too heavily on a coterie due to her lack of experience turned out to be unfounded. As per Pranab, Sonia had her close advisers but she did not follow anyone's advice blindly. A fascinating excerpt from Sharmistha Mukherjee's Pranab, My Father: A Daughter Remembers.
Gupta, arrested in the Czech Republic on June 30 last year, is currently held in Prague's Pankrak prison.
Based on discussions with stakeholders, the ministry is proposing to allocate Rs 26,400 crore for FAME-III subsidy alone with electric two wheelers getting around Rs 8,158 crore, electric buses Rs 9,600 crore and electric three-wheelers Rs 4,100 crore, according to sources in the know. Along with some other components like setting up an innovation fund and money for testing , the total allocation could cross Rs 33,000 crore, estimates suggest.
First Rajya Sabha approved the Rs 45 lakh-crore spending proposed in the Budget, followed by the nod to the Finance Bill that contains tax proposals.
'Das is friendly, but he finally does what he does. The quality of engagement is very good.'
The 4000-page chargesheet, which was filed in the court of special NIA judge AK Lahoti, has 16 protected witnesses.
Minister of state for personnel Jitendra Singh said it is a major step to place the right talent for the right role.
India will also launch a sovereign gold bond to lower physical demand.
The 17 related ministries have been combined into seven different groups, including some infrastructure departments, in a bid to ensure synergy and better results.
Reiterating warnings made in dropped leaflets, the IDF's Arabic spokesman Lieutenant Colonel Avichay Adraee directed Palestinians to continue moving south of Wadi Gaza.
Public-sector enterprise stocks have seen a good run thus far in 2023-24 (FY24), with the S&P BSE PSU Index surging by over 26 per cent during the period, compared to an 11 per cent increase in the benchmark S&P BSE Sensex.
Finance Minister is unhappy over lack of storage capacity.
The 30-day visa-free entry is also currently enjoyed by eight ASEAN countries for the purpose of social visits, tourism and business.
'The prime minister took a meeting recently and he asked for suggestions and ideas for a plan till 2047.'
The finance ministry on Friday amended the foreign exchange management rules to exclude international credit card spends from the purview of liberalised remittance scheme (LRS). The amendment to the Foreign Exchange Management (Current Account Transactions) Rules, 2000, will be effective retrospectively from May 16, the ministry said in a notification. "...the use of International Credit Card for making payment by a person towards meeting expenses while such person is on a visit outside India" will not be covered under LRS, the notification said while inserting Rule 7 in the FEM (CAT) Rules.
Telecom services providers have urged the Ministry of Finance to suspend the universal service obligation (USOF) till the existing corpus is exhausted. In their Budget recommendations, they have also pressed for an exemption from the service tax on "assignment of right to use natural resources" and the slashing of Customs duty on telecom equipment to zero. The Cellular Operators Association of India (Coai), which represents private sector telecom operators Reliance Jio, Bharti Airtel, and Vodafone Idea, called for abolishment of USOF levy.
As many as 417 infrastructure projects, each entailing an investment of Rs 150 crore or more, have been hit by cost overruns of more than Rs 4.77 lakh crore in September this year, an official report said. According to the Ministry of Statistics and Programme Implementation, which monitors infrastructure projects worth Rs 150 crore and above, out of 1,763 projects, 417 reported cost overruns and as many as 842 projects were delayed. "Total original cost of implementation of the 1,763 projects was Rs 24,86,402.70 crore and their anticipated completion cost is likely to be Rs 29,64,345.13 crore, which reflects overall cost overruns of Rs 4,77,942.43 crore (19.22 per cent of original cost)," the ministry's latest report for September 2023 said.
Good monsoon is likely to create more jobs in the agriculture sector, which in turn could save the exchequer around Rs 10,000 crore
'The first duty of the government is to learn lessons from a bad experience and course correct. It's a pity that the government is making policy without looking at evidence and differentiating between immediate and urgent.'
'It has been an ongoing process, talking to the relevant ministries about eliminating leakages and curbing non-core expenditure in various schemes.'
However, as of now, container availability has not been seen as an issue as adequate empties are available. The Red Sea strait is vital for 30 per cent of global container traffic and 12 per cent of global trade.
'Now the political boss decides, and the ED acts.'
China also removed Finance Minister Liu Kun and appointed Lan Fo'an in his place. Liu is the third senior Cabinet minister to be replaced without any explanation.
United Nations proscribed terrorist Lakhvi, 61, who was on bail since 2015 in the Mumbai attack case, was arrested by the Counter-Terrorism Department of Punjab province on Saturday.
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 central government has given banks and credit card entities six to eight months to put in place the requisite reporting mechanism and related features to collect tax at source on international credit card transactions, a senior bureaucrat told Business Standard. According to the bureaucrat, the plan to bring overseas credit cards under the Liberalised Remittance Scheme (LRS) has not been mothballed and is simply being deferred so that banks get adequate time to get the system up and running. The official expects the reporting mechanism to be ready in the given time, and the rule could be implemented in the next financial year (2024-25, or FY25).
Adani Power, part of the Adani group, plans to add close to 6 gigawatts (Gw) of new power assets in the next five years, according to an investor presentation by the company. That is clearly meant to ride on India's burgeoning power demand. But there is another side to it: All of this new capacity is expected to be thermal power, or power produced from coal.
The preparations for the next Budget have already started.
'There is a need for an innovation sandbox where the PSBs can collaborate and then they can do their own innovation on top of it.'
Under Urjit Patel, the then RBI Governor, the central bank had a habit of making complete about-turns on various issues, including electoral bonds and digital payments, former finance secretary Subash Chandra Garg said in his book titled 'We Also Make Policy: An Insider's Account of How the Finance Ministry Functions.' Citing some instances of about-turns by the then RBI Governor Patel, Garg in his book said, RBI had done so on the electoral bond issue and it had so in case of setting up of Payments Regulatory Board (PRB). RBI also made unilateral decisions like ordering complete data localization for participation in the payment system, Garg wrote in the book which will hit the stands on October 1.
Speaking to ANI on Wednesday, Dehadrai said, "I have given my complaint to the CBI. This is a very serious issue and there are people from Odisha who are financing and supporting those against whom I have filed a complaint (to the CBI). This fight is a bit dangerous but I will not back down."
A 14-member council of ministers was sworn in Patna by Governor Phagu Chauhan on Monday and the BJP bagged seven berths.
Plug-in hybrids have two engines and the electric part has a much larger battery than in the regular hybrids. Car companies, led by the Japanese, are pushing the Indian government to look at hybrids in the interim if it wants to reduce carbon emission.
Pant, a 1991-batch Indian Administrative Service officer of Rajasthan cadre, is currently secretary in the ministry of ports, shipping and waterways.
While the responses of the candidates were predictable, depending on which side they belonged to, an interesting point slipped through when Rahul Shewale cited the Dharavi Redevelopment Project as a scheme that would add to Mumbai's importance. No big infrastructural project in Mumbai, he said, could be successful without the Centre's nod.
'We are engaging in substantial open market sales of both wheat and rice to control food inflation; special measures of market intervention in vegetables, pulses and oil seeds were also taken to cushion the impact.'
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.
The government may be staring at a modest slippage in fiscal deficit for 2022-23 (FY23), with the Ministry of Finance seeking parliamentary approval for additional spending through a second and final tranche of supplementary demands for grants. On Monday, as the Budget session of Parliament resumed, Finance Minister Nirmala Sitharaman sought Parliament approval for additional gross spending of Rs 2.7 trillion in FY23 (which ends on March 31). While net cash outgo is pegged at Rs 1.48 trillion, the rest will be matched by savings or enhanced receipts, the finance ministry said.
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