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 decision on the DA and DR was taken at the Union Cabinet meeting chaired by Prime Minister Narendra Modi. In view of the COVID-19 pandemic, the Union Government had frozen the three additional instalments of the DA and DR which were due from January 1, 2020, July 1, 2020 and January 1, 2021. There will be no payment of arrears this time, as the rate of DA/DR for the period from January 1, 2020 to June 30, 2021 shall remain at 17 per cent of basic pay/pension.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
'Today, let us reaffirm our commitment to strive to realise Gandhiji's dreams. His watchwords, truth and nonviolence, will continue to remain relevant for the whole world. He also taught us that rights and duties are but the two sides of the coin - indeed, the true source of rights is duty. Today we recall his lessons in compassion too - compassion not only for our human neighbours but also for our other neighbours, namely, flora and fauna, rivers and mountains.'
According to data from Venture Intelligence, PEs invested in two mobile payment solutions firms each in 2009, 2010 and 2011. This grew to four deals in 2012 and five deals in 2013.
Non-resident individuals (NRIs) have also been allowed to apply for the niche banking licence, provided they plan to return to India.
Has the army confronted China, equipping itself with emergency purchases that have been largely paid for by pensioners, asks Ajai Shukla.
11th-hour debt restructuring programme offered no concessions to creditors
The economists who signed the letter included Jean Drze , Abhijit Banerjee, Ajit Ranade, Jayati Ghosh, Kirit Parikh, Mihir Shah, Rohini Pande, and Vijay Joshi
The party released its manifesto -- Samajwadi Vachan Patra -- for the coming assembly elections, shortly after the BJP released its own.
The long-pending One Rank One Pension Scheme for ex-servicemen was tonight brought into force with government issuing a notification which will benefit over 25 lakh veterans and war widows.
7 key areas that the Budget must address to re-energise the infrastructure sector, suggests Vinayak Chatterjee.
Public-sector banks, which are the largest employers in the banking space, have seen a drop in clerical staff over the years.
The retirement fund body plans to launch 'One Employee One EPF Account' system on May 1.
Presenting the Budget for 2019-20 in the Lok Sabha, Finance Minister Piyush Goyal also said Rs 35,000 crore has been given under the One Rank One Pension scheme in the last three years.
With the PMO itself spearheading a re-evaluation, the Director General of Defence Accounts has been asked to justify its earlier contention that the 'slab based' system would benefit a larger number of disabled veterans -- something the army flatly denies, reports Ajai Shukla.
US retail giant Walmart has said it is "open to an IPO" for its Indian e-commerce arm Flipkart but there is "no specific timeline" for the share sale. Both Flipkart and payment app PhonePe continue to do well, Walmart International president and CEO Judith McKenna said while speaking at the DB Access Global Consumer Conference on June 7. "We always made it clear from the day we made the acquisition or the investment, that we would be open to an IPO," said McKenna. However, she noted that there is no specific timeline for the IPO.
The Election Commission on Friday virtually made it mandatory for political parties to deposit their funds in banks and not to exceed ceiling limits in financial assistance for candidates to ensure transparency and accountability.
'As our per capita income increases and various demographic segments emerge, the need for various kinds of protection and risk covers will become even more explicit.'
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
There were concerns that simply opening a bank account wouldn't constitute meaningful financial inclusion, as the poor would rarely use these accounts. However, recent data submitted to Parliament attests to increased account usage, says Ishan Bakshi.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
RBI Governor Shaktikanta Das on Thursday said financial inclusion will continue to be a "policy priority" for the central bank to make the post-pandemic recovery more equitable and sustainable. The Reserve Bank of India will very soon be coming out with the first financial inclusion index, which will assess progress in terms of access, usage and quality, Das said, while speaking at the Economic Times Financial Inclusion Summit. It is the responsibility of all stakeholders to ensure that the financial ecosystem (including the digital medium) is inclusive and capable of effectively addressing risks like mis-selling, cybersecurity, data privacy and promoting trust in the financial system through appropriate financial education and awareness, he added.
The Supreme Court on Wednesday refused to entertain a plea by 14 political parties led by the Congress alleging arbitrary use of central probe agencies against opposition leaders, asserting that laying down guidelines without facts of a criminal case will be "dangerous".
As of now, foreign employees applying for withdrawal of provident funds are required to open bank accounts in India.
"It is clear that there was a slush fund for the German World Cup bid," Zwanziger told Der Spiegel magazine, which first reported the allegations last week.
There shall be two dates for grant of increment - January 1 and July 1 every year
The regulator is more carefully scrutinising applications by infrastructure investment vehicles that have a limited number of investors. They have been asked to broaden their investor base before application approval, according to two people familiar with the matter. The Securities and Exchange Board of India is concerned about the structure being used for getting around tax requirements, according to one of the sources.
Experts, however, said that it is a very nominal benefit to the salaried class.
Shaktikanta Das is a master of the finest balancing act who listens to all but takes his own decisions, discovers Tamal Bandyopadhyay.
The bench said that past conduct of a delinquent employee can be taken into consideration while imposing a penalty on him.
In other welfare schemes, such as those for cooking gas, pension and scholarships, which are linked to DBT, cash is transferred directly into the bank accounts of beneficiaries.
Is it a divine, sacrosanct university, a holy cow, prohibiting human intervention?
Gurbax Singh Dhindsa, father of Kargil war martyr GS Dhindsa, in a letter to the PM and defence minister underlining the fact that military personnel have little recourse to justice in higher courts.
Stating that pushing GDP growth, which has slipped to 5-year low of 6.8 per cent in 2018-19, is the top priority, President Ramnath Kovind said Modi govt will bring more reforms and raise farm investments to boost growth.
'Completely disregarding ground reports of starvation deaths owing to Aadhaar and potentially disguising these deaths to look like accidents appears brutal,' says Rajendran Narayanan.
Resident doctors of three North Delhi Municipal Corporation (NDMC)-run hospitals are currently holding an agitating seeking release of their salaries due for the last three months.
The court was hearing petitions challenging the Aadhaar scheme.
If you plan it out, instead of rushing it in the last moment, you will realise how much you have saved and the difference it makes to your personal wealth.
