'Elections in Madhya Pradesh have so far largely avoided freebies.' 'But this time both the Congress and BJP are making such announcements.'
Dearness Allowance for central government employees has been hiked to 31 per cent of the basic pay from 28 per cent with effect from July 1, 2021, the Finance Ministry said. In an office memorandum, the Department of Expenditure, under the Finance Ministry, said the term 'basic pay' means the pay drawn as per the 7th pay commission matrix and does not include any other type of pay like special pay, etc. "....the Dearness Allowance payable to central government employees shall be enhanced from the existing rate of 28 per cent to 31 per cent of the basic pay with effect from July 1, 2021," said the office memorandum dated October 25.
Policy decisions, particularly those which have wide-ranging implications on the nation's health and security, should be decided by bodies best suited to do so, the Delhi high court said on Monday while refusing to interfere with the Agnipath scheme.
Besides, it has been decided that a complaint received from a citizen will not be closed until an appeal filed against it is disposed of.
The gross tax revenues have touched 65 per cent of the Budget estimates at Rs 17.81 lakh crore during the first eight months of the current fiscal till November, propelled by corporate and personal income tax mop-up, according to the Economic Survey 2022-23 presented in Parliament on Tuesday. The survey, authored by Chief Economic Advisor V Anantha Nageswaran, said the 'substantial reforms' in India's taxation ecosystem post-2014 and policy reforms have removed the distortionary incentives from the economy. Reforms like GST, reduction in corporate taxes, exemption of sovereign wealth funds and pension funds from taxes, and removing Dividend Distribution tax have reduced the tax burden on individuals and businesses.
The Centre is likely to announce the Agnipath recruitment scheme for the defence forces under which troops would be recruited only for four-year tenures.
The government of India will deposit Rs 200 per month for Gramin Dak Sevaks involving an annual expenditure of about Rs 70 crore (Rs 700 million) to provide for the financial security for them and their spouses after retirement from the service at the age of 65, Minister of State for IT & Telecom Sachin Pilot told reporters in New Delhi.
Gehlot made the announcement in the presence of Congress president Mallikarjun Kharge and former party chief Rahul Gandhi at a rally here on the sidelines of the "Bharat Jodo Yatra".
In his second term in office, UP Chief Minister Yogi Adityanath has retained 34 portfolios.
The finance ministry on Friday withdrew expenditure curbs on various departments and ministries imposed in June in the wake of the COVID-19 second wave, reflecting improvement in public finances and the urgency to step up growth.
The Centre plans to create a special window for strategically important investors such as sovereign wealth funds and pension funds that wish to invest over Rs 3,000 crore through a single transaction.
In the manifesto released on Saturday, the Congress also promised unemployment allowance of Rs 3,000 per month, Rs 2,000 pension to divyangs, widows, senior citizens and needy women, and waiver of loans of up to Rs 3 lakh of all fishermen, among other things.
After publication and broadcast of the news, the district administration constituted a committee of revenue and health officials for an inquiry into the news report, the FIR said.
Air India Chairman Rajiv Bansal has been appointed as the new aviation secretary as part of a major top-level bureaucratic reshuffle effected by the Centre on Wednesday. K Rajaraman, additional secretary in the department of economic affairs, has been appointed as secretary, department of telecommunications, a personnel ministry order said.
Allocation of portfolios would be the immediate vexatious issue for the party, with supporters of Virbhadra Singh already feeling sidelined after the elevation of the late chief minister's professed rival Sukhu.
The Centre has initiated 'major penalty proceedings' against former West Bengal Chief Secretary Alapan Bandyopadhyay, amid a tug-of-war between the Union government and the Mamata Banerjee dispensation over him, which may deprive him of post-retirement benefits, partially or fully.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Sharma was the president of the conference, the first since the Paris Agreement of COP21 that expected parties to make enhanced commitments towards mitigating climate change.
Making a scathing attack against the Left government, he said the practice of giving pension benefits to the personal staff of ministers just after completing two years a few months ago was a 'gross violation and abuse of authority.'
The trial of the Russian soldier was the first that Ukraine has conducted since the invasion related to charges that could be considered war crimes.
Kerala Governor Arif Mohammed Khan on Sunday stepped up his attack on the Left government and Chief Minister Pinarayi Vijayan by accusing the latter of directing the police not to lodge a case when he was heckled at the Kannur University in 2019.
Revenue secretary Tarun Bajaj along with senior finance ministry officials on Thursday held a meeting with Infosys managing director Salil Parekh to review the performance of the new income tax portal. More than 3.5 crore Income Tax Returns (ITR) have been filed so far for the financial year 2020-21 through the portal, which had faced glitches following which the ministry had directed Infosys to urgently address the issues. Infosys has developed the new income tax e-filing portal 'www.incometax.gov.in'.
The main purpose of the meeting is to assess their views on reforms that are required to attract long-term capital into the country.
Functioning in several departments related to revenue collection has also been affected. Revenue collection has reduced by Rs 17,000 crore in March.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
The finance ministry on Wednesday reimposed expenditure curbs on ministries and government departments for July-September quarter. There will be no spending restrictions on the ministries of health, rural development, agriculture, MSME (micro, small and medium enterprises) and railways as part of a two-pronged strategy. "The existing guidelines for expenditure control have been reviewed. "Keeping in view the evolving situation arising out of Covid-19 and anticipated cash position of the government, it is felt essential to regulate Quarterly Expenditure Plan (QEP)/Monthly Expenditure Plan (MEP) of specific ministries/departments for July-September, 2021," the Department of Economic Affairs in the finance ministry said in a notification.
7 key areas that the Budget must address to re-energise the infrastructure sector, suggests Vinayak Chatterjee.
A homemaker in every family would get a monthly assistance of Rs 1,000, the manifesto said.
It added that following this, the Department of Ex-Servicemen Welfare of Ministry of Defence vide communication dated November 7, 2015, conveyed the policy of OROP for the defence force personnel.
The government on Monday announced that it has credited revised pensionary benefits along with arrears under One Rank-One Pension scheme to more than 2 lakh pensioners drawing service and disability pensions.
"It is mentioned that there is no provision in the Lokpal and Lokayuktas Act, 2013 for appeal, review or reconsideration of an order passed by a bench of the Lokpal of India. It is hereby informed to all concerned that no appeal or request for review/reconsideration of an order will be entertained by the Lokpal of India," the Lokpal said in a notice.
The scheme is aimed at slashing the salary and pension bills of the three services, which have been increasing rapidly.
Finance Minister Nirmala Sitharaman on Monday reduced the time limit for reopening of income tax assessment cases to three years from six years, while for serious tax fraud cases where concealment of income is Rs 50 lakh or more it would be 10 years.
Over 1.4 lakh jobs are estimated to be created between March 2019 and March 2021 in various central government departments, according to the Union Budget presented on Monday. The strength of government establishments was 32,71,113 as on March 1, 2019, which is estimated to increase to 34,14,226 by the first day of next month - an increase of 1,43,113, it said. The budget documents have given a break-up of the jobs estimated to be created in central government departments between 2019 and March 2021.
Only NIIF has stayed the course as a viable infrastructure financing institution.
The appointment of new expenditure secretary comes a month-and-a-half ahead of the Budget for 2020-21 to be presented on February 1.
The most important institutions have been and are being undermined with almost no resistance, warns Aakar Patel.
If Kerala wants to sustain its room for independent thinking and talk back to Delhi when needed, it should put its finances in order. Or - if one takes the North East example - Kerala's political posturing may end up commensurate with its financial dependence on others, suggests Shyam G Menon.
Sources said the action was in line with Prime Minister Narendra Modi's address to the nation from the ramparts of Red Fort when he said some black sheep in the tax administration may have misused their powers and harassed taxpayers, either by targeting honest assesses or by taking excessive action for minor or procedural violations.
The Department for Promotion of Industry and Internal Trade (DPIIT) will soon start public consultation for a national retail trade policy, which is likely to include an insurance scheme aimed at providing financial protection against losses caused by theft, accidents or natural calamities. The policy will also spell out ways to give traders access to low-cost finance, promote digital inclusion, and create necessary infrastructure to support them, a senior government official told Business Standard. This is expected to offer relief especially to traditional traders, who are facing stiff competition from large e-commerce players.
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