FinMin does not expect tax or non-tax revenue to reach anywhere close to the targets set in the interim Budget. Sources say that the challenge before the new government will be either to accept the reduced projection and tailor the Budget accordingly or set a more ambitious target.
Mukesh Ambani's Reliance Industries (RIL) might be denied a higher gas price from its D1 and D3 fields until the arbitration process with the government is over and a third-party expert report on the fall in output at the KG-D6 block is out.
80-85 per cent of about 700 major infrastructure projects within the Centre's domain have been delayed.
The aim is to reduce working expense by about 15 per cent.
This is roughly 70% of the national transporter's budgeted wage bill of Rs 40,435 crore for the current financial year.
Earlier, an inter-ministerial group used to take these decisions.
A top Home Ministry official said no note has been prepared yet to be placed before tomorrow's scheduled meeting of the Cabinet to be chaired by Prime Minister Manmohan Singh.
Planning Commission on Thursday said a desicion was expected shortlyon using foreign exchange reserves for infrastructure projects.
'Both reflect prejudice and short-sightedness peculiar to Mr Modi's way of thinking.'
Adani Power, part of the Adani group, plans to add close to 6 gigawatts (Gw) of new power assets in the next five years, according to an investor presentation by the company. That is clearly meant to ride on India's burgeoning power demand. But there is another side to it: All of this new capacity is expected to be thermal power, or power produced from coal.
Ministries seek more discussions, Cabinet defers decision.
Finance Minister Arun Jaitley will take a final call on whether to break the tradition of presenting a separate Rail Budget, by merging it with the General Budget.
He also indicated that the current position of the rupee is competitive against world currencies.
'He will go to any extent, and he will have the full support of the Union government as they may not like a Left government to continue here.'
United Nations proscribed terrorist Lakhvi, 61, who was on bail since 2015 in the Mumbai attack case, was arrested by the Counter-Terrorism Department of Punjab province on Saturday.
State-run public sector undertakings live in a mysterious world, without scrutiny from analysts or the public. Here's an overview of Maharashtra's PSUs.
'It is just an excuse to say that the Centre has run out of money.' 'Pruning these schemes would mean hard time for the people of India.'
The panel will also recommend a fiscal consolidation road map for the central and state governments, study the impact of GST on the divisible pool, and propose performance-based incentives for states.
Railway Minister Suresh Prabhu faces a stiff dilemma on whether to raise fares and freight rates in his second Rail Budget.
The country was, in February, put on the list of jurisdictions that require increased monitoring. These are done to counter money-laundering, terrorist financing, and proliferation financing in a more efficient manner.
The idea is to introduce in the next Budget a number of safeguards for preventing disputes with taxpayers.
A controversy broke out on Wednesday over whether or not West Bengal Chief Minister Mamata Banerjee, who was gheraoed by Left activists on Tuesday, ignored an advice to enter the Planning Commission building through the VIP gate.
The Prime Minister directed that a special cell be created immediately in the Cabinet Secretariat.
Two successive reports, one by Percy Mistry in 2007 and the other by Raghuram Rajan in 2008 had provided the RBI and the finance ministry with blueprints of what to do next. Both reports, unfortunately, was put on ice. The global meltdown saved the RBI. It also saved the finance ministry from having to work on the two reports.
Old ideas contained in the heads of old economists still dominate. That's not good, asserts T C A Srinivasa Raghavan.
After Nasim Zaidi retired as Chief Election Commissioner in July, there was a vacancy in the poll panel.
To curb mis-selling of policies and rationalise commissions, radical changes have been proposed to help investors.
Can the newly-minted Jal Shakti ministry bring water to some 19 crore Indian households that have never had taps or heard the sound of flowing water, wonders Vinayak Chatterjee.
Days after cutting the salaries and other allowances of MPs and ministers, the government has passed instructions to all departments to reduce their expenditure by as much as 60 per cent from their first-quarter spending plans.
Going by its past experience of differences between the central bank and the finance ministry, the government might prefer a person who could bridge this gap.
With Prime Minister Narendra Modi emphasising the need to kick-start investment in the country, the project monitoring group (PMG) under the Cabinet Secretariat has asked various government departments to start monitoring projects for which clearances have been facilitated through this mechanism.
'If some measures are implemented quickly, they can help revive growth.'
Officials asked what the point was in going through banks when the government has to give guarantees.
A K Bhattacharya lists three reasons why Finance Minister Arun Jaitley will most likely present a full Budget on February 1, 2019.
Senior bureaucrats say the government has planned a 'feel-good' Budget after the 'pain' of demonetisation.
Outlay for infra is also expected to see a significant increase in view of the government's Rs 111-trillion investment plan under the national infrastructure pipeline to develop social and economic infrastructure over five years.
The Election Commission will hold the 2019 general election under Arora .
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