The government will cut the central sales tax rate to 3 per cent from 4 per cent from April 1 through a notification, as announced by Finance Minister P Chidambaram in his Budget speech.
RBI Governor Raghuram Rajan on Tuesday said the Finance Ministry's decision to provide more capital to PSU banks will lower the borrowing cost and increase their capacity to lend, besides promoting investments.
The committee's objections are a curious mixture; some attack the very basis of the project, others question its implementation.
The committee's objections are a curious mixture; some attack the very basis of the project, others question its implementation.
The government wants to use the FDI victory impetus to clear the Companies Bill and those amending the banking and pension Acts.
Dubbing the new income tax return Form 2F as "kathin" (difficult), a parliamentary committee has asked the government to withdraw the Form, including the controversial cash flow statement that salaried assessees have to file.
The Supreme Court on Friday said lawyers and professionals with 10 years of experience will be eligible for appointment as president and member of the state consumer commission and district forums.
The Budget Session of Parliament will commence on Monday and is scheduled to conclude on April 8 wherein the first part of the session will extend up to February 11, said the Lok Sabha Secretariat on Sunday.
On Tuesday, the 32-member Parliamentary Committee is understood to have met officials of the Securities and Exchange Board of India, Reserve Bank of India, stock exchanges, various brokers, Unit Trust of India, Life Insurance Corporation and State Bank of India. The committee is expected to meet officials of the finance ministry next week.
A visit to Tibet appears to have become the new touchstone for expressing fealty to Xi Jinping, observes Jayadeva Ranade, the retired senior RA&W officer and distinguished China expert.
Civil society groups welcome the submission of a memorandum opposing Aadhaar and other anti-people policies to the prime minister along with a big truckload of signatures numbering 3.57 crore on March 14, says Gopal Krishna
According to a presentation by LIC to Parliament standing committee on finance, total investment at the end of March 31, 2012 was Rs 13.49 lakh crore or Rs 13.49 trillion.
The Standing Committee on Finance, which met under the chairmanship of senior BJP leader Yashwant Sinha, has decided to finalise its report by March 2, enabling Parliament to consider the ambitious reforms in direct tax regime.
Prime Minister Modi, Defence Minister Rajnath Singh, Home Minister Amit Shah, Finance Minister Nirmala Sitharaman and External Affairs Minister Dr Subrahmanyam Jaishankar attended CCS meeting.
A parliamentary committee on Friday hauled up the finance ministry for fall in Tax:GDP ratio to 9.2 per cent in 2003-04 from 10.1 per cent in 1990-91
In the midst of the stock market turbulence, the government has sounded a word of caution to investors, with the pre-budget Economic Survey asking them to resist the 'herd mentality.'
Standing committee on finance to also focus on RBI autonomy and citizen's rights.
Seeking to dispel the impression of policy inaction, the government is likely to give a push to pension sector reform by approving changes in the proposed PFRDA Bill so that it can be taken up by Parliament for the passage in the Monsoon session next month.
The Reserve Bank of India has told parliamentarians that it is concerned over the stock market exposure of various non-banking financial companies (NBFCs) promoted by leading banks in the country.
The Companies Bill 2009, which seeks to replace a half-a-century-old Act, will be presented in Parliament in the ongoing Budget session, Finance Minister Pranab Mukherjee said on Monday.
This means taxpayers might continue to enjoy exemption on maturity of their investments
The challenge is to convince productive sectors that a lower general rate would benefit all and remove the prevalent system of favours targeted towards narrow industry and service sector groups.
Government on Friday ruled out replacing its Lokpal Bill with another, saying it will be better to have amendments to the one already introduced.
Under fire over allegations of foreign exchange violations in IPL, BCCI's top officials o Wednesday blamed sacked Commissioner Lalit Modi for "mistakes" as they told a Parliamentary panel that they had given approvals at his behest in "good faith".
The Enforcement Directorate (ED) on Monday conducted raids at over a dozen locations in Chhattisgarh including at premises linked to state Congress leaders as part of an ongoing probe into the alleged coal levy scam, officials said.
The Punjab government has declared a holiday on Thursday as a mark of respect to the former chief minister.
Following is the text of Prime Minister Manmohan Singh's remarks at the all party meeting on the Lokpal issue in New Delhi on Wednesday evening.
Sushil Kumar Modi, who ceased to be Bihar Finance Minister following the JD (U)-BJP split, on Monday resigned as Chairman of the Empowered Committee of State Finance Ministers looking into the implementation of the proposed new indirect tax regime - Goods and Services Tax (GST).
Union Ministers Smriti Irani and D V Sadananda Gowda have been dropped from Inter-State Council, official sources said on Wednesday.
But BSNL operates in the dynamic telecom sector with high growth rates. BSNL's problems have more to do with management and interference from the DoT.
India's per capita expenditure on defence is less than $10, while the average expenditure of the top ten spenders in Asia is $800 approximately.
Industry's wait for new bank licences may get a bit longer as the Reserve Bank of India's (RBI's) suggestions to amend the Banking Regulation Act will not be incorporated in the report of the Standing Committee on Finance in the Banking Laws (Amendment) Bill, 2011.
How do cheer girls promote the cause of cricket? Why are players auctioned like 'gladiators' in IPL system of cricket? These were some of the questions members of the Parliamentary Standing Committee on Finance posed to top officials of the Board of Control for Cricket in India.
A Parliamentary committee has asked the Ministry of Small Scale Industries to work closely with Uttar Pradesh Finance Corporation for reviving mini cement plants in the state.
The speed at which he led the central bank in different areas -- ranging from internal reorganisation to inflation fighting, stabilising the currency, taking on rogue corporations, cleaning up bank balance sheets, and opening the sector -- makes one believe that Rajan knew he had only three years to do his job. A fascinating excerpt from Tamal Bandyopadhyay's MUST-READ Roller Coaster: An Affair with Banking.
The government on Tuesday came in for sharp criticism on the divestment issue with a parliamentary committee asking it to come forward with a comprehensive policy document on the matter.
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