The government will mop up Rs 1,400 crore (Rs 14 billion) this fiscal by taxing the second instalment of arrears due to central government employees, who were awarded increased salaries by the Sixth Pay Commission.
Net NPAs increased to Rs 36,260 crore in the December quarter from Rs 34,843 crore in September and Rs 33,116 crore in December 2023, observes Tamal Bandyopadhyay.
'Not giving the Commission space in Mumbai is an insult to Maharashtra's Dalits who are waiting for the inquiry report.'
By suggesting a substantial hike for government employees, the 6th Pay Commission, like many before it, has indeed been an honest attempt at destabilising the nation. And for that reason the nation need to consign it to the dustbin.
'Your relationship with your child is changing every single day, ditto your relationship with your parents.'
With billionaire Gautam Adani charged in the United States with alleged bribery and fraud, the Congress on Thursday said it 'vindicates' its demand for a Joint Parliamentary Committee investigation into the various 'scams' involving his conglomerate.
The VBL board approved the purchase of SBC Tanzania for Rs 1,304 crore and SBC Beverages Ghana for Rs 127 crore. These own manufacturing/distribution rights for NARTD (PepsiCo branded) beverages in Tanzania and Ghana. The acquisitions will help VBL gain ground in East and West Africa.
On its 177th anniversary, Utkarsh Mishra explores the history and relevance of The Communist Manifesto.
None of Adani group portfolio companies, comprising 11 listed firms, have been accused of any wrongdoing, conglomerate's CFO Jugeshinder Robbie Singh said on founder and chairman Gautam Adani's indictment on bribery charges in the US. In a post on X, Singh said the group would make a detailed comment on the US indictment once it gets counsel approvals.
Income tax at source would be deducted only on 40 per cent of salary arrears to central government employees in the current fiscal on implementation of Sixth Pay Commission recommendations, government said on Tuesday.
The government on Wednesday said it would tax only 40 per cent of salary arrears to be paid to central government employees in the current fiscal on implementation of Sixth Pay Commission recommendations.
The government on Thursday approved the Sixth Pay Commission recommendations, heaping civil and defence staff with a salary hike bonanza on the eve of the country's 61st Independence Day.
In his Budget, Jaitley announced a pay hike for the President to Rs 5 lakh per month, Rs 4 lakh for the VP and Rs 3.5 lakh for governors.
The National Restaurant Association of India has written an advisory to its members against Zomato Pay and Swiggy Diner discount programmes saying these are against the interest of restaurant owners. The advisory alleges that 'middlemen' Zomato and Swiggy are making money at the cost of restaurants, who sign up to be on the Zomato Pay and Swiggy Diner programmes by making them compulsorily offer discounts and also pay commission fee on every transaction on these platforms. "Zomato Pay and Swiggy Diner both operate broadly on the same construct -- no cost/subscription fee to the customer to participate; restaurants must compulsorily offer a discount in the range of 15-40 per cent to be part of the program," NRAI wrote to its members.
An increase in the farmer income support scheme PM Kisan Nidhi, the introduction of a 'robot tax' to fund reskilling of people who lose their jobs to artificial intelligence (AI), and a reduced income-tax (I-T) to bring relief to the middle classes - these are some of the items in the Budget wish list submitted by Sangh Parivar affiliates to Finance Minister (FM) Nirmala Sitharaman. Representatives of the affiliates of the Rashtriya Swayamsevak Sangh (RSS), such as the farmer organisation Bharatiya Kisan Sangh (BKS); trade union Bharatiya Mazdoor Sangh (BMS); Laghu Udyog Bharati, which works for micro and small industries; and Swadeshi Jagran Manch (SJM), which works on economic and policy issues, met the FM and other officials over the last couple of weeks as part of the pre-Budget consultations.
In far-reaching reform measures to the salary structure of an estimated 4.5 million central government employees, the sixth Pay Commission report submitted to the finance ministry today recommended an across-the-board effective salary hike of about 28 per cent, performance-linked increments, fewer holidays and a new medical insurance scheme.
At least 120 insurance intermediaries and aggregators from across the country are under scrutiny, mainly from Mumbai, Gurugram and Bengaluru.
Workers of the Uddhav Thackeray-led Shiv Sena camp on Tuesday visited the memorial of Shiv Sena founder late Bal Thackeray in Mumbai carrying a flaming torch with them, a day after the Election Commission allotted mashaal symbol to the party faction.
The ordinance will be tabled in the next session of the legislature, it said, adding that 27 posts were approved for the commission.
Why did the political system in the country react to these two decisions of the Modi government in a diametrically opposite manner? asks A K Bhattacharya.
The whereabouts of Mahinda Rajapaksa is being speculated since his resignation on Monday.
Billionaire Gautam Adani's group has pulled out of a loan deal with a US agency to fund a port terminal in Sri Lanka, saying it will use its own resources for the project. In an exchange filing late on Tuesday, Adani Ports and Special Economic Zone Ltd (APSEZ) said the project "is on track for commissioning by early next year". "The project will be financed through the company's internal accruals and capital management plan," the firm said.
Farmers with land sizes less than 0.01 hectare have an average annual income of Rs 54732 and annual consumption of Rs 61296, thereby, a debt of Rs 6564 each year. Compare this with the minimum pay for a government employee, says Devanik Saha.
There shall be two dates for grant of increment - January 1 and July 1 every year - instead of the existing July 1 only.
The State Commission concluded the insurer could not take advantage of a typographical error on the bank's part to repudiate a legitimate claim, points out Jehangir B Gai.
Paris St Germain will take their wage dispute with Kylian Mbappe to court after the French football league's governing body (LFP) ruled in favour of the France captain on Friday.
The chairman of the committee, A K Mathur, sought abolishment of the two-year edge accorded to the IAS officers for empanelment, compared to other services, saying it was an 'archaic concept'.
The World Bank held India's Fifth Pay Commission as the "single largest adverse shock" to the country's strained public finance, according to the bank's India Development Policy Review.
After considering the increase proposed in allowances, the hike in remunerations comes to 23.55 per cent.
'I am optimistic about the Budget because of the fiscal discipline the government has committed to.'
The BJP sharpened its attack on the AAP after its Gujarat chief Gopal Italia was heard purportedly mocking the prime minister's mother in a video, and said people of the state will make it pay for 'abusing' her.
'The present generation, either due to historical amnesia or political propaganda, has been fed a narrative that paints India as an adversary rather than an ally.'
'Spend, but create assets, spend but make sure that people benefit from it.' 'This has been a beautiful guiding principle. And I think as a finance minister I owe so much to the prime minister for keeping this path clear before us.'
'Till the BJP does not understand Kejriwal they cannot win Delhi.'
Former Andhra Pradesh Chief Minister YS Jagan Mohan Reddy has strongly refuted allegations of bribery by the Adani Group for solar power purchases during his government. He claimed his name was not mentioned in a US court's indictment and that meetings with Adani Group chairman Gautam Adani were not unusual for a chief minister. Reddy said the power supply agreement was between the state's DISCOMs and SECI, with no third-party involvement. He also defended the deal, calling it 'historic' and highlighting the cost savings for the state. Meanwhile, former CM N Chandrababu Naidu has alleged irregularities in the deal and promised to act upon the alleged charges.
Two Central Board of Excise and Customs staffers, Raman and Suresh, based in Trichy, Tamil Nadu, have set up a Web site based on the 6th Pay Commission recommendations and dedicated exclusively to government employees.
The number of cyberfraud cases has skyrocketed from 2,677 in 1999-2000 to 29,082 in FY24 -- more than a 10-fold increase. The RBI pegs digital payment frauds at Rs 1,457 crore in FY24, up more than five times in a year. It's not just the number of frauds. What's alarming is the growing sophistication of the fraudsters, exposing the vulnerabilities within the financial system, observes Tamal Bandyopadhyay.
A purported video of former Uttarakhand chief minister Tirath Singh Rawat saying no work could be done in the state without paying commission has surfaced online.
However, the details will be worked out after the Fitment committee submits its report to the government. It also seeks to continue the thrust of the original budget for the development of agriculture, education, infrastructure in the state. The first supplementary presented by the Orissa finance minister, Prafulla Chandra Ghadai in the state Assembly amid slogan shouting by the BJP members, proposes an outlay of Rs 7587.69 crore (Rs 75.87 billion) for 2008-09.
