The Council also discussed process to make return filing simpler with just one return to be filed every month.
Assessing the shape of the Indian economy just a couple of days ahead of the Union Budget for 2016-17, Saugata Bhatacharya, senior vice president and chief economist, Axis Bank, speaks about his budget wishlist and suggests measures that can help finance minister Arun Jaitley achieve the targeted fiscal deficit of 3.5 per cent of India's gross domestic product.
Curbing the federal deficit is the government's absolute priority on February 28.
This is the first time the fight is between mother and son. Both sides don't look in the mood to relent: Advisors and spin doctors have been hired, lawyers have been consulted.
She alleged that her partymen's counter-remarks were deliberately misconstrued by the saffron party, reflecting its "polluted" and "casteist" mentality.
Biju Janata Dal members had staged a walk-out while NDA ally Shiv Sena did not participate in the voting.
The average land given to the rural landless is small and falling, from 0.95 acres in 2002 to 0.88 acres in 2015 - a 7.4 per cent drop over 13 years-and a slowdown is evident in the process of taking land away from rich landlords, the RTI data reveal.
Chief Economic Advisor Arvind Subramanian's interview.
Markets have gone into a tailspin, the Modi govt must revive investment sentiment.
Prime Minister Narendra Modi to include only those who perform well as parliamentarians.
Flagging the challenge of raising foodgrain production, Prime Minister Manmohan Singh on Friday promised all assistance to states for improving agricultural growth.
'Lending to Mr Mallya was the bankers' season ticket to corridors of power and glamour. Borrowing from them was like a favour Mallya did to them,' says Shekhar Gupta.
Against National Democratic Alliance's 75 million target, United Progressive Alliance added 61 million in 2013-14.
Following is the full text of Prime Minister Narendra Modi's address from the ramparts of the Red Fort on the 73rd Independence Day.
'Modi has shown political courage by instituting several economic reforms which include demonetisation, ushering in GST, eradication of benami transactions...'
As part of their deal Diageo agreed to pay Mallya, $75 million for stepping down as chairman of United Spirits and for entering into a non-compete pact
Strategic sales are tricky and were last undertaken when the Vajpayee government was in power.
IDS-2 and raids to uncover black money stash keep receipts flowing
Capital Goods shares ended mixed on the back of weak IIP numbers. L&T ended down 0.7% while BHEL ended with marginal gains.
A new formula for pricing natural gas in the domestic market was determined; the decontrol of diesel prices was announced; and the scheme that directly transferred subsidies to bank accounts of users of liquefied petroleum gas (LPG) cylinders was modified and relaunched.
Water from as many as 78,508 rural habitations is contaminated by arsenic, fluoride, iron or nitrate, finds out Chaitanya Mallapur/IndiaSpend.com.
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'India is doing better than when we took office 17 months ago'.
Livelihoods and lives are being destroyed in the name of building a 'better' India, writes Congress leader Sachin Pilot, in an exclusive column for Rediff.com.
Finance Minister Arun Jaitley on Monday presented the Union Budget for 2016-17.
In 2015, the Reserve Bank of India cut interest rates by 125 basis points to 6.75 per cent.
The S&P BSE Sensex plunged 301 points to close at 25,490 and the Nifty50 fell 86 points to end at 7,815.
Mallya has lived on the edge for long enough to know that his extradition from UK is not a given, says N Sundaresha Subramanian.
India's fiscal deficit trends are a bit like an alcoholic trying, unsuccessfully, to reform. Virtue does not last for too long, says Shankar Acharya.
The Modi government's array of economic policy has been impressive.
GST will make it easier for governments to spend more, says T C A Srinivasa Raghavan.
Arun Jaitley had a tough fiscal hill to climb.
Loan waivers will never be enough. Reforming the agricultural marketing system is essential to addressing the concerns of farmers in a sustainable manner, says Nitin Desai.
There would be a marginal 3% increase in freight rates.
Criticising various provisions in the proposed GST regime, Moily said it will be a "technological nightmare" and the anti-profiteering provisions in it are "far too draconian."
Markets were left high and dry last week, as the 'Monsoon Effect' played havoc on trader sentiment.
The ministries and departments, where bureaucrats are parked after being moved out of key positions, reflect the priorities of the government.
Against a turbulent and uncertain background, Budget 2017-18 hewed a steady, forward-looking course, says Shankar Acharya, former chief economic adviser to the government.
'Drought in the 1990s was essentially the drought of a poor India.' 'This 2016 drought is of a richer and more water-guzzling India.' 'The severity and intensity of the drought is not about lack of rainfall.' 'It is about the lack of planning and foresight, and criminal neglect.'
Markets surged on hopes that the exit polls would show that the BJP winning majority in the general elections.
The overdraft facility has been sanctioned in only 40,000 accounts
