Standing committee on finance to also focus on RBI autonomy and citizen's rights.
At a press conference on Monday, Finance Minister P Chidambaram said when the final version of the Bill was tabled in Parliament, the government would abide by the recommendations of the parliamentary standing committee on DTC.
As chairman of the parliamentary standing committee on finance, former finance minister, Yashwant Sinha, says he is committed to expediting the legislative work associated with important Bills, including the direct taxes code (DTC) and Goods and Servies Tax.
The imapsse continues over issues like bank scams and special status demand for Andhra Pradesh.
Finance Minister Arun Jaitley appealed to parties to rise above partisan considerations to support it.
We have the workforce, now we need to ensure that we take full advantage of game-changing technologies and geopolitical openings, suggests Jayant Sinha, chairman, Parliament's Standing Committee on Finance.
Union Minister Piyush Goyal on Friday sought an apology from the Congress for the controversial statement by party MP that suggested a call for a separate south nation over fiscal injustice, but the opposition party's president said it stands for a united nation and will not tolerate any such call.
The government should shun populist measures and take tough decisions to rein in the fiscal deficit, says Yashwant Sinha.
The new Companies Bill, which was first introduced in the Lok Sabha in 2008, seeks to give a fillip to the cause of corporate social responsibility and corporate governance.
Currently, the select committee is considering the Bill.
A united Opposition on Tuesday tore into an ordinance promulgated to amend land acquisition rules, calling it an "anti-farmer" move brought by "bypassing" Parliament to benefit corporate houses, a charge vehemently denied by the government.
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The GST Bill, introduced in Parliament in 2010, is being vetted by the Standing Committee on Finance. Now, the states and the Centre would together finalise the draft and bring it back to Parliament.
Parliament proceedings were adjourned for a second day on Monday over the insinuations by Prime Minister Narendra Modi against his predecessor Manmohan Singh.
Negotiations near deadlock, as states oppose Constitution Amendment Bill.
Bijayant Panda, the suave Biju Janata Dal MP from Kendrapara, said he was "shocked" at the news.
The Parliamentary Standing Committee on Finance has passed strictures against the finance ministry for the delay in introducing the draft direct tax code for legislation to replace the voluminous Income Tax Act, 1961.
Finance Minister P Chidambaram on Monday said he is reviewing the Direct Taxes Code (DTC) Bill and it will be introduced in Parliament after taking into account the recommendations of the Parliamentary panel.
The RBI governor, who made a presentation about the state of the economy as well about the world economy to the 31-member Parliamentary Standing Committee on Finance, stayed clear of controversial questions like government invoking special powers.
'Modi had not discussed demonetization with me prior to his announcement on 8 November 2016. 'I learnt of it along with the rest of the country. 'I was not surprised when he did not discuss the issue with me prior to making the public announcement. 'It fitted in with his style of making dramatic announcements.' A fascinating excerpt from Pranab Mukherjee's The Presidential Years: 2012-2017.
The parliamentary standing committee on finance has proposed a Securities and Exchange Board of India (Sebi) and Reserve Bank of India (RBI) co-ordination mechanism to monitor foreign investments in the stock market.
The Companies Bill 2009, which seeks to replace a half-a-century-old Act, will be presented in Parliament in the ongoing Budget session, Finance Minister Pranab Mukherjee said on Monday.
The panel of Parliament examining the Direct Taxes Code (DTC) Bill has almost finalised its recommendations. It wants more taxpayer-friendly measures.
The Lok Sabha on Wednesday passed three bills to replace the colonial-era criminal laws by voice vote.
Concerned over the exploitation of credit card holders, a parliamentary committee has suggested that the Reserve Bank of India should prescribe maximum interest rate that can be charged by banks from customers.
On one hand, South Indian states have been complaining about denial of a proportionate portion of the sharable funds from the Centre, based on population. On the other hand, they stand to lose Lok Sabha and Rajya Sabha seats that again are based on population, points out N Sathiya Moorthy.
A parliamentary committee has pulled up the finance ministry for not adhering to Fiscal Responsibility and Budget Management Act in cutting revenue deficit by 0.5 per cent of GDP for 2005-06 saying there should not be deviations every now and then.
After 17 tumultuous years, a nationwide Goods and Services Tax (GST) will rollout from midnight of June 30, overhauling India's convoluted indirect taxation system and unifying the $2 trillion economy with 1.3 billion people into a single market.
A committee would be set up by the finance ministry to consider the long-pending demand of ex-servicemen for a 'one-rank one-pension' scheme.
Former Union minister and senior Bharatiya Janata Party leader Murli Manohar Joshi is likely to become the next chairman of the Parliamentary Public Accounts Committee while Yashwant Sinha will replace him as head of the Standing Committee on Finance, BJP sources said.
Stressing on the 'Make in India' initiative, a Ministry of Defence appointed committee has recommended enhanced private sector involvement by granting manufacturers tax and import concessions.
Janata Party chief Subramanian Swamy on Thursday sought suspension of the new bilateral air services agreement between India and Abu Dhabi, saying prima facie it appeared to be linked with Jet-Etihad deal.
The Rajya Sabha on Wednesday approved the biggest tax reform since Independence.
The government wants to use the FDI victory impetus to clear the Companies Bill and those amending the banking and pension Acts.
Raghuram Rajan, whose current three-year tenure ends on September 4, has already said no to a second term.
Both houses of Parliament were prorogued on Friday, almost a month after being adjourned sine die, ending the possibility of an extension of the Monsoon session in the face of continued stand-off between government and opposition.
The Standing Committee on Finance, which met under the chairmanship of senior BJP leader Yashwant Sinha, has decided to finalise its report by March 2, enabling Parliament to consider the ambitious reforms in direct tax regime.
In the midst of the stock market turbulence, the government has sounded a word of caution to investors, with the pre-budget Economic Survey asking them to resist the 'herd mentality.'
It makes it mandatory for companies to spend on social welfare and seeks to bring in greater transparency.
Seeking to dispel the impression of policy inaction, the government is likely to give a push to pension sector reform by approving changes in the proposed PFRDA Bill so that it can be taken up by Parliament for the passage in the Monsoon session next month.
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