Let there be a rule that if the Budget is not passed and funds cannot be drawn from the Consolidated Fund of India, there will be a government shutdown as it happens in the United States, says A K Bhattacharya.
The government is also planning to set up specialised Benches for competition law to reduce the burden of the appellate tribunal, which is referred to on all matters from company law and IBC to competition law and the national financial reporting authority.
The talk of governance reforms at public-sector banks seems to remain on paper, as a majority of them continue to be working with just a handful board members. Half of the board seat at these banks have been vacant. Ten of the 12 public-sector banks, even large ones like Punjab National Bank, Canara Bank and Union Bank of India - all except State Bank of India (SBI) and Bank of Baroda - don't even have a chairman. In 2014, while splitting the post of chairman & managing director (CMD), the government had decided to appoint non-executive chairmen at these banks. SBI, which has an executive chairman and four managing directors, was an exception.
The final policy may be out only after formation of the new government, according to sources
Twenty two legislators belonging to the Telangana Rashtra Samithi and the Bharatiya Janata Party along with two independent MLAs associated with them were on Monday suspended from the Andhra Pradesh assembly for two days for constantly disrupting proceedings of the House on the Telangana statehood issue.
As the United States focuses on the Indo-Pacific, in particular the Quad, the Biden administration needs to address India's ties with Russia and its 'downward trend of democratic values and institutions', said a report by the Democratic Party of the Senate Foreign Affairs Committee.
Moitra brought two birthday caps in the House to press her argument that the businessman being most talked about had "topi-pehnau-ed" the government.
The Standing Committee on Petroleum and Natural Gas in a report tabled in Parliament said the proposed formula is a simple average of two methodologies -- price of imports of LNG into India by different suppliers, and weighted average of prices of natural gas prevailing at Henry Hub in USA, National Balancing Point in London and netback import price at the well head of suppliers into Japan.
Several top jurists on Monday pushed for scrapping the existing collegium system where judges appoint judges but government's plans to bring a bill to make the process of appointments more transparent may take some more time.
Displaying earnest, government will seek the views of jurists and former judges on the proposed Judicial Appointments Commission bill it plans to bring in Parliament to replace the present collegium system where judges appoint judges.
The early tabling of the financial Budget ends a 70-year tradition.
After the screening, the shortlisted candidates will be vetted by an external committee, to be headed by former RBI governor, Bimal Jalan.
Taxpayer satisfaction is a part of the matrix of key performance indicators of the administration.
Janata Party chief Subramanian Swamy on Thursday sought suspension of the new bilateral air services agreement between India and Abu Dhabi, saying prima facie it appeared to be linked with Jet-Etihad deal.
Pakistan's Finance Minister Miftah Ismail on Monday said the government can consider importing vegetables and other edible items from India following the destruction of standing crops due to massive floods, three years after Islamabad downgraded trade ties with New Delhi over the Kashmir issue.
He also claimed that the people were asking are all the jobs under Kerala government reserved for cadres and the university jobs for powerful people in Thiruvananthapuram.
Bharatiya Janata Party leader Sumitra Mahajan will be appointed Speaker of the 16th Lok Sabha on Friday. Other key parliamentary posts like that of Leader of Opposition, deputy Speaker, chairman of the Public Accounts Committee and head of the all-important standing committee on finance will be keenly contested.
FM may increase income-tax exemption limit to Rs 3 lakh
Equity indices made an emphatic comeback on Friday after falling for seven straight sessions after the RBI hiked interest rates by 50 basis points on expected lines and projected inflation coming under control from January next year. A strong recovery in the rupee added to the momentum, traders said. Overcoming a wobbly start, the 30-share BSE Sensex soared 1,016.96 points or 1.80 per cent to settle at 57,426.92. During the day, it rallied 1,312.67 points or 2.32 per cent to 57,722.63.
A Parliamentary Committee on Wednesday recommended a composite foreign investment cap of 49 per cent in the insurance sector and supported a government Bill to amend the Act.
The bench said it has to balance the equity and it was not against any policy of the government or the scheme.
Shaktikanta Das is a master of the finest balancing act who listens to all but takes his own decisions, discovers Tamal Bandyopadhyay.
Gujarat Deputy Chief Minister Nitin Patel on Monday said he was not unhappy with the Bharatiya Janata Party's decision to select Bhupendra Patel as the state's next chief minister, soon after the CM-designate met him at his residence in Ahmedabad in the morning.
The decision to permit the third child came after this month's once-in-a-decade census showed that China's population grew at the slowest pace to 1.412 billion amid official projections that the decline may begin as early as next year.
The Budget has proposed a Benami Transactions (Prohibition) Bill.
AIBEA said that on April 19 its officer bearers would meet in Punjab to decide the next course of action.
Investors are pushing back more often against companies' resolutions on what is paid out to top executives. In the first four months of financial year 2022-23 (FY23), there have already been five such rejections, according to shareholder voting data from tracker Adrian, a platform maintained by the proxy advisory firm Institutional Investor Advisory Services India (IiAS). Two of these have been at multiplex chain PVR and direct-to-home company Dish TV India.
Piloting the Specified Bank Notes (Cessation of Liabilities) Bill, Finance Minister Arun Jaitley said it will extinguish the government's liability towards scrapped notes and also eliminate the possibility of their bring used as parallel currency.
Finance secretary Rajiv Kumar was positive in formation of a committee consisting all concerned to address the issues arising out of the proposed merger of 10 banks including preserving the identity of all the banks.
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.
Jaitley said the Congress may be upset with the government for 'political reasons'
Prime Minister Narendra Modi on Tuesday offered a floral tribute to former Japanese premier Shinzo Abe at his state funeral in Tokyo.
Senior Assam minister Himanta Biswa Sarma on Wednesday said the government cannot implement the recommendations of the central panel on Clause 6 of the Assam Accord, as those are "far from legal reality".
Senior Congress leader Jairam Ramesh puts it succinctly: "Arun Jaitley was every non-BJP person's favourite BJP-ite."
Non-compliance, underreporting or misreporting will attract a penalty of 50-200 per cent. The authorities may during assessment even tax assets that are 15-20 years old
Sunak joins fellow Indian-origin candidate Suella Braverman, the UK Attorney General who is among the early Tory MPs to announce her plan to contest.
The Congress said the foot march, being led by party leader Rahul Gandhi, will proceed according to its schedule and reach Jammu on Monday afternoon.
The FM could scrap the secrecy around tax rates.
Both India and Nepal claim Kalapani as an integral part of their territory -- India as part of Uttarakhand's Pithoragarh district and Nepal as part of Dharchula district.
Nirmala Sitharaman's messaging was clear when she presented a well-balanced Budget with an eye on state elections in nine states followed by a general election next year, observes Ramesh Menon.
