Parliament's standing committee on finance, headed by Bharatiya Janata Party leader Yashwant Sinha, on Thursday finalised its report on the Companies Bill, 2011.
Concerned over rising incidents of tax evasion, a Parliamentary Committee on Thursday asked the government to keep a close watch on high spending individuals and also take steps to reduce tax arrears.
The government will push for the passage of a long-pending bill to provide statutory status to the Unique Identification Authority of India in the winter session of Parliament.
As the Narendra Modi government nears completing a year in office, the Congress on Wednesday stepped up its offensive against the prime minister accusing him of weakening democracy by running a "one-man show" while scoring maximum on "arrogance" and minimum on governance.
Coming down hard on the government for meagre increase in allocation for armed forces in the last few years, the Parliamentary Standing Committee on Defence said the outlay cannot even fulfill the basic requirements of the armed forces.
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.
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.
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.
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.
Dubbing the new income tax return Form 2F as "kathin" (difficult), a parliamentary committee has asked the government to withdraw the Form, including the controversial cash flow statement that salaried assessees have to file.
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.
A parliamentary committee on Friday hauled up the finance ministry for fall in Tax:GDP ratio to 9.2 per cent in 2003-04 from 10.1 per cent in 1990-91
Industry's wait for new bank licences may get a bit longer as the Reserve Bank of India's (RBI's) suggestions to amend the Banking Regulation Act will not be incorporated in the report of the Standing Committee on Finance in the Banking Laws (Amendment) Bill, 2011.
The government on Tuesday came in for sharp criticism on the divestment issue with a parliamentary committee asking it to come forward with a comprehensive policy document on the matter.
Bharatiya Janata Party leader Sumitra Mahajan will be appointed Speaker of the 16th Lok Sabha on Friday. Other key parliamentary posts like that of Leader of Opposition, deputy Speaker, chairman of the Public Accounts Committee and head of the all-important standing committee on finance will be keenly contested.
The newer ones have not met the stipulation of opening 25 per cent of branches in rural and semi-urban areas, a parliamentary committee report has observed.
A Parliamentary committee has asked Reserve Bank of India to direct banks to channelise more funds to industry and other sectors instead of investing excessively in risk-free government papers.\n\n\n\n
'What matters is meeting the needs and expectations of the people who have voted to provide governance for the country.'
It is thanks to the policy of liberalisation conceived by Manmohan Singh and enforced by P V Narasimha that the Indian economy has now become the world's 5th largest economy by nominal GDP, asserts Dr Sudhir Bisht.
Reserve Bank of India Governor Urjit Patel is learnt to have told the parliamentary panel on demonetisation that discussions between the central bank and the government on the process began early last year.
A parliamentary panel on Friday opposed the new bank licences to corporate houses and voiced concerns over the discretionary power vested with RBI for applying 'fit and proper' criteria for deciding on applications.
A Parliamentary panel that went into a Bill to create a pension fund regulator has favoured 26 per cent FDI in the sector, but found many lacunae in the legislation.
Non-compliance, underreporting or misreporting will attract a penalty of 50-200 per cent. The authorities may during assessment even tax assets that are 15-20 years old
Merger of the three key ministries is expected to help in removing the hurdles in these areas.
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.
The DMK parliamentary party appears to be a house divided, reports R Rajagopalan.
The ministry has proposed similar penalty and jail term for adulteration, besides license suspension and cancellation
The much-delayed insurance bill and the goods and services tax bill are among the 39 bills that are expected to come up during the month-long Winter Session of Parliament beginning next week.
The proposed bill seeks to raise FDI cap in the sector to 49% from the present 26.5%
The bank's response came to a clarification sought by stock exchange on recent reports on debit cards blocking in the wake of suspected data breach
The Budget Session of Parliament will commence on Monday and is scheduled to conclude on April 8 wherein the first part of the session will extend up to February 11, said the Lok Sabha Secretariat on Sunday.
Lalu handled the obstacle of 'departmentalism' with ease.
The speed at which he led the central bank in different areas -- ranging from internal reorganisation to inflation fighting, stabilising the currency, taking on rogue corporations, cleaning up bank balance sheets, and opening the sector -- makes one believe that Rajan knew he had only three years to do his job. A fascinating excerpt from Tamal Bandyopadhyay's MUST-READ Roller Coaster: An Affair with Banking.
.jpg)
The implementation of the much-hyped Aadhaar Card scheme is in trouble following the Supreme Court's interim order on Monday, which observed that the card can be issued only to Indian nationals and the identification number cannot be made mandatory for availing of benefits of the government's subsidy schemes.
The Opposition said that the government was 'bull-dozing'.
Select committees on Mines and Minerals Amendment Bill and Coal Mines Bill recommended their approval without any change
'There is no difference between the earlier government and the present government.' 'They are all following the economic policy based on the Chicago School of thought.' 'This school of thought says the government should have very little role in governing the country and the majority of the work should be handed over to the private sector.' 'This has not succeeded in the US.' 'Yet, it is being tried here by people like Arvind Subramaniam, Arvind Panagariya, Urjit Patel and Raghuram Rajan.'
This means taxpayers might continue to enjoy exemption on maturity of their investments
'People have realised they bought into the prime minister's package and it is empty.'
The BMS said that creating workers who do not own their industry and without permanent commitment or relationship with the industry, will be a hazard for industrial growth.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances