The government has suffered a loss of Rs 12,488.93 crore (Rs 124.88 billion) due to under-invoicing of gross revenue by six telecom companies including Reliance Communications, Vodafone and Bharti Airtel, the CAG said in a damning report on Friday.
The framework also envisages amendments to the Prevention of Corruption Act to exempt commercial decisions by PSBs from scrutiny by investigating agencies. Both the amendments are likely in the monsoon session of Parliament.
The I-T officer can go back up to six years to scrutinise the books of accounts of the assessees.
The United States has demanded the immediate and full restoration of the democratically elected government in Myanmar and said that America stands with the elected representatives of the Asian nation.
The Lalu Prasad-led Rashtriya Janata Dal MPs, including his daughter Misa Bharti and Manoj Jha, also staged a protest at Mahatma Gandhi's statue inside the Parliament complex and contended that despite being the chief opposition party in Bihar and the single largest party in the Assembly, it was not invited.
Citing overlapping of functions, a parliamentary committee on Monday recommended integrating Central Vigilance Commission and anti-corruption wing of the Central Bureau of Investigation to work directly under the command and control of Lokpal to deal with corruption cases.
The panel will submit its recommendations to a ministerial committee, headed by Union Home Minister Rajnath Singh.
The use of RBI capital to strengthen public sector banks will have many positive implications for the economy -- and a few manageable downsides, points out R Jagannathan.
The AG said the country needs the Rafale jet to defend itself 'from F-16 fighter planes that recently bombed us'.
Public banks may have a tough time in 2015 as they had to write off Rs 1 trillion.
The current battle within the party is seen as setting the stage for August 10 when Sonia completes one year of interim presidentship, and questions are being raised about a leadership vacuum. For the first time, responsible quarters are suggesting that as Sonia cannot function as interim president indefinitely and Rahul seems to want power but not the responsibility, one way out is collective leadership, reports Aditi Phadnis.
After taking benefit of the scheme, jobs increased by around 11 mn in establishments that took loans.
Rediff.com's Syed Firdaus Ashraf traces the journey of PM-CARES from its founding to finally admitting it is not a government fund.
The danger to India's democracy is coming from recourse to mobocracy encouraged by the anti-Modi gang, argues Vivek Gumaste.
'Whatever I did, I did for the farmers and whatever I am doing, I am doing for the country'
Criticising the move, the opposition led by the Congress said that Question Hour is the 'golden hour of the House'. Leader of the Congress in Lok Sabha, Adhir Ranjan Chowdhury, said the argument and rationale that has been put forth by Parliamentary Affairs Minister Pralhad Joshi is far from convincing.
The Congress Working Committee finally accepted Rahul Gandhi's resignation during its second meeting of the day.
The Centre's retreat from the farm laws is likely to have a significant bearing on the fate of laws that the Centre has made, for instance, in labour and electricity, predicts A K Bhattacharya.
'Mr. Modi has now become 1st PM to have his illegal orders set aside by the SC'
The Congress may get chairmanship of the prestigious Public Accounts of Committee but still there is no guarantee whether it will get the post of Leader of the Opposition in the Lok Sabha.
Delhi MLA Manjinder Singh Sirsa said Kamal Nath had allegedly given shelter to five people who were accused in one of the seven cases.
The apex court said there was no occasion to doubt the decision-making process in the multi-billion dollar Rafale deal.
A BJP source admitted that a census will inevitably reconfirm the numerical majority of the OBCs. 'That will overturn social equations and consign the upper castes to a twilight zone of marginalisation. The RSS won't accept it.' Radhika Ramaseshan reports.
Of the seven surveys presented under Modi govt, predictions of three were quite close to the actual GDP growth rate, one saw the base year change in between, but the last three were way off the mark.
'The Himmatsinghji Report is still 'missing'.' 'It is a great loss for the knowledge of India's borders.' 'It would have an immense value at a time China is bound to shift its attention to other border fronts in the Himalayas,' notes Claude Arpi.
The most serious recommendations to change the financial year came in the years preceded by deficient rainfall. The Jha committee was formed after droughts in 1979-80 and 1982-83, reports Rishika Pardikar/IndiaSpend.
The Centre has put the blame on state governments while state governments complain that money is not released for the proposals given by them to the Empowered Committee that has been tasked with recommending proposals to be funded under this framework.
Public Money, Private Agenda -- The Use and Abuse of MPLADS by A Surya Prakash provides a comprehensive look at the Members of Parliament Local Area Development Scheme, which was launched 20 years ago in 1993. Excerpts from the book.
Heading to the third year, will Urjit Patel be busy firefighting a currency crisis? Almost no governor of the RBI managed to evade it and Patel perhaps knows it.
Terming investment in infrastructure "quintessential" to boost growth, the Economic Survey on Friday said post unlocking of the economy, infra sectors are poised for growth and construction of roads is expected to return to the high pace attained before COVID-19. The infrastructure sector will be the key to overall economic growth and macroeconomic stability, the Survey said emphasising that the year after the crisis (2021-22) will require sustained and calibrated measures to facilitate the process of economic recovery and enable the economy to get back on its long-term growth trajectory. "Basic infrastructure facilities in the country provide the foundation of growth. In the absence of adequate infrastructure, the economy operates at a suboptimal level and remains distant from its potential and frontier growth trajectory.
It is baffling how the PM chose the LCH as an indigenous product to celebrate on Rashtriya Raksha Samarpan Parv, even while his Cabinet holds up manufacturing clearance for 15 LCHs on the grounds that they are not Indian enough.
The group of journalists also passed a joint resolution seeking justice for the victims.
The comments assume significance in the backdrop of recent disclosures by messaging giant WhatsApp that said Indian journalists and human rights activists were among those globally spied upon by unnamed entities using an Israeli spyware Pegasus.
'Scindia's willingness to consort with the BJP, a party he has rightly, and eloquently, excoriated in various speeches and statements in the recent past suggest a shallowness and hollowness of convictions and principles.'
'Will Mr Jaitley listen, or is that expecting too much in pre-election season?' asks T N Ninan.
The poll panel on Friday took note of alleged breach of 'ethical and dignified behaviour' and revoked the 'star campaigner' status of the Congress leader. While the political party pays for the expenditure of a star campaigner, the candidate pays for the expenditure of other campaigners.
The court also allowed Indian Banks' Association, another respondent, to file a response.
'If Indians are to be truly protected, Parliament must review and address these dangerous provisions before they become law.'
Corporate Affairs Secretary Injeti Srinivas said the issue is how the interests of stakeholders are to be balanced
The apex court said that he won't be allowed to take any major policy decision till the high-powered committee considers the issue of "divestment of power and authority".
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances