The reason for the largesse, a first in the revenue department, is on account of direct and indirect tax collections exceeding the target (Budget estimate) for 2006-07. Total revenue collections stood at Rs 470,987 crore (Rs 4,709.87 billion) for the year, against the targeted Rs 439,952 crore (Rs 4399.52 billion).
Pakistan celebrated its 77th Independence Day on Monday.
Mayank Gupta, of BodhiSutra, discusses 10 career streams that will throw up opportunities in the times to come.
Pensioners to get 40% raise, more gains for octogenarians. The Union Cabinet has accepted this proposal, along with other recommendations of the Sixth Pay Commission on pension benefits for the estimated 3.84 million central government pensioners at a meeting here on Thursday.
In a bonanza to its employees ahead of the ensuing Lok Sabha elections, the government on Friday decided to merge 50 per cent of dearness allowance with the basic pay
While IIM-A hiked its fee in the last academic session, IIM-K recently announced to increase its fee up to Rs 900,000. The move to hike fee is being made following the Centre's decision to stop bloc grant to the institute.
Inflation target remains 5% for January 2017.
India will grow at around 8 per cent this year and next, but the principal risk to this projection stems from the demand-led inflation that "would occur if the total Pay Commission award for government employees were to be paid out immediately," the Paris-based Organisation for Economic Cooperation has warned.Besides, "quick action to write off small farmers' debt would also add substantially to demand," the OECD indicated in its latest Economic Outlook.
The Rs 10,807-crore (Rs 108.07 billion) budget for implementation of Sixth Pay Commission recommendations and to fund various ongoing projects was passed by a voice vote. Some members were not satisfied with the budget. The BJD members walked out alleging that Orissa had been ignored.
The welfare of the common man continues to be the top priority. The minister has reduced fares for the fourth successive year.
The action was expected to affect the general efficiency levels of the Railways and could also eat into its profit margins estimated at a minimum loss of around 20 per cent margins compared to last year, claimed IRPOF. It, however, clarified that the officers will not take any action that will cause inconvenience to the general public.
Creating many more half-decent jobs for the 10 million plus new entrants to the labour force each year must surely constitute the primary development challenge for India today.
The NCDRC gave its order dismissing Air India's appeal against the Tamil Nadu state consumer commission, which had upheld a Chennai district consumer forum's order to pay the compensation.
Congress leader Rahul Gandhi and all 117 party candidates in Punjab will pay obeisance at the Golden Temple and sit down for a langar on Thursday.
The 79-year old veteran leader, who has already announced his retirement from electoral politics, said there is no question of him sitting at home, and after the assembly session he will tour the state and campaign for the party and its candidates.
The over 1.6 million employees of central public sector companies are demanding a salary increase of over 100 per cent, saying the average 40 per cent raise recommended by the Sixth Pay Commission for government employees is not enough. Salaries of public sector workers were last revised in 1997 and were scheduled for the next revision on January 1, 2007. The average gross monthly salary an ONGC executive earns today is between Rs 40,000 and Rs 50,000.
The FIR against the Indian arm of the global NGO Oxfam was registered based on a complaint from the ministry of home affairs.
A new benefit of aggregate two years of paid leave that central government's women employees may avail to take care of their minor children will be limited to only the first two children and not for the third or fourth child, the government clarified through a notification
UAL and Continental Airlines closed their merger on October 1 creating the world's largest carrier by traffic.
India is not so worried about meeting fiscal deficit target.
With the One Rank One Pension scheme for military veterans set to be notified soon, officials of central paramilitary forces, too, may be in for good news soon as the government is to take a final decision on granting of "organised services" status to them.
"The 6th Pay Commission disbursement led to an increase in our working expenses," Chairman of the Railway Board S S Khurana said. He also said the Railways had saved Rs 655 crore. "Our cash surplus before the dividend was Rs 17,399 crore and operating ratio was 90.4 per cent," he said.
The central government babus have been given a big hike in TA/DA (travel allowance/dearness allowance) as part of implementation of the Sixth Pay Commission, but it may be only illusory as ministries and departments will get no additional funds to foot their bills.
SEC charged that Menezes, who retired in 2005 as senior vice chairman of Citigroup, allegedly sold Citigroup stock just before the April 15, 2002 company announcement about significant losses in its Argentine operations.
This case is the largest investigated by the Pandemic Response Accountability Committee Fraud Task Force to date, US Attorney for the Northern District of Texas Leigha Simonton said in a press release.
RBI awaits fiscal stance, inflation to cool off to decide on rates.
Both the forces were of the view that inclusion of its personnel who have joined the service on or after January 1, 2004 in the new contributory pension scheme launched by the government was unfair.
Six years ago, the company discovered an incident of embezzlement of about $4 mn by an employee.
The couple was in a relationship but had a quarrel on Saturday. On Sunday, the victim planned to attend the birthday party of her friend's son but was accosted and stabbed repeatedly. She was also hit with a stone
The strike was supposed to affect about 23 million passengers.
The judges reserved the verdict on Monday after the rival lawyers concluded their arguments on the suspension of the three-year sentence handed down to the 70-year-old PTI chairman by Additional District and Session Judge, Islamabad, Humayun Dilawar on August 5.
The alleged model code of conduct (MCC) violation took place at the event -- 'Dilli ki Yogshala: Yog Prashikon ko Samman Rashi Ka Vitran' -- held on Friday at the Constitution Club, which was attended by Chief Minister Arvind Kejriwal and his deputy Manish Sisodia.
A bonanza is in the offing for the senior ranks as the Defence Ministry has cleared proposals for creating more than 110 posts of Generals.
Abidali Neemuchwala, who had joined Wipro in 2015 as group president and chief operating officer, was also given 200,000 in stock options in the financial year ended March 2016.
Leading brewer Anheuser-Busch InBev will pay USD 6 million (Rs 40.2 crores) to the American authorities for settling charges of making "improper payments" to government officials in India to push sales and production.
The SEC has charged Citigroup's principal US broker-dealer subsidiary with misleading investors about the $1 billion derivatives deal tied to the US housing market.
A public sector unit employee on an average received an annual salary of Rs 6.09 lakh (Rs 609,000) in 2009-10, with total emoluments increasing more than 100 per cent in the last four years.
El-Sisi welcomed Modi, who is on a two-day state visit to Egypt, at the Presidential Palace where the two leaders were closeted for one-on-one meeting after which the two sides signed a memorandum of understandng.
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.
Dr Shreekant Sambrani pays tribute to M S Swaminathan, renowned agricultural scientist and a lifelong crusader against hunger who passed away in Chennai recently.
