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.
FM may increase income-tax exemption limit to Rs 3 lakh
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.
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.
There are lessons for the Congress to learn from the Karnataka elections of how burying the hatchet among top leaders and not washing dirty linen in public can help, says Ramesh Menon.
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.
The Budget has proposed a Benami Transactions (Prohibition) Bill.
The 13th report of the Analytical Support and Sanctions Monitoring Team cites a UN Member State as saying that Jaish-e-Mohammed (JeM), a Deobandi group ideologically closer to the Taliban "maintains eight training camps in Nangarhar, three of which are directly under Taliban control."
Senior Congress leader Jairam Ramesh puts it succinctly: "Arun Jaitley was every non-BJP person's favourite BJP-ite."
AIBEA said that on April 19 its officer bearers would meet in Punjab to decide the next course of action.
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.
In its scheme of things, tackling inflation now comes ahead of ensuring growth in the world's sixth largest economy, points out Tamal Bandyopadhyay.
The Anti-Terrorism Court (ATC) Gujranwala issued the warrant during a hearing in a terror financing case instituted by the Counter Terrorism Department (CTD) of Punjab police against some members of the JeM.
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.
Jaitley said the Congress may be upset with the government for 'political reasons'
Operationalising the ban is being fleshed out: it will entail which cryptocurrencies will be banned and how.
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
Equities went into a tailspin on Wednesday after the Reserve Bank surprised the market with a mid-cycle rate hike in a bid to tame soaring inflation.
'Although Hong Kong weathered many a storm and displayed a remarkable resilience to bounce back, the developments in the territory have raised question marks with regard to its future stability and prosperity.' A revealing excerpt from Rup Narayan Das's Hong Kong Conundrum: Pangs of Transition.
In a volte-face, Pakistan's cabinet on Thursday rejected the proposal of a high-powered committee to import cotton and sugar from India, with Foreign Minister Shah Mahmood Qureshi asserting that there can be no normalisation of ties until New Delhi reverses its decision to revoke the special status of Jammu and Kashmir.
Rishi Sunak, the former UK chancellor of the exchequer, on Friday formally launched his leadership bid to succeed Boris Johnson as the new Conservative Party leader and future British prime minister.
The FM could scrap the secrecy around tax rates.
For development finance institution to succeed now, the government must stand like a rock behind it and be patient.
The BMS said that creating workers who do not own their industry and without permanent commitment or relationship with the industry, will be a hazard for industrial growth.
'There is no difference between the earlier government and the present government.' 'They are all following the economic policy based on the Chicago School of thought.' 'This school of thought says the government should have very little role in governing the country and the majority of the work should be handed over to the private sector.' 'This has not succeeded in the US.' 'Yet, it is being tried here by people like Arvind Subramaniam, Arvind Panagariya, Urjit Patel and Raghuram Rajan.'
If the items and services such selected subsequently pass the test from the fitment committee and the GST Council, this would be the first of such rate hikes, after a series of cuts in the process of rate rationalisation that started in November 2017.
Earlier, while presenting the Budget on February 1, Finance Minister Arun Jaitley had proposed to cap cash transactions at Rs 300,000 with effect from April 1.
Ending weeks of acrimonious spats and mudslinging, the BJP and its ruling ally Shiv Sena have finally worked out the modalities for running the KDMC.
The Empowered Committee of State Finance Ministers got its new chairman on Monday in Jammu and Kashmir's Abdul Rahim Rather.
Union ministers said Parliament passing over two dozen Bills was evidence of increased productivity of Narendra Modi government 2.0.
'People who have unaccounted money often park it in unregulated deposit schemes.' 'Curbing illegal deposit-raising activity will also carry forward the government's drive against black money.'
Jaitley's concerns are unlikely to cut much ice with the Congress.
In all this, the political establishment -- and especially the finance ministry -- appears the weakest link, and worse still, the possible reason for the political backing to Narain and Ramkrishna that emboldened them to defy all the sentinels -- the independent board, the auditors, top management persons like the chief compliance officer, the company secretary, and unbelievably the super-regulator Sebi, observes V Ranganathan.
'We have about Rs 4 lakh crore debt on a state budget of about Rs 1.5 lakh crore.' 'We are in a debt two-and-a-half times our annual budget,' says the banker who would have been Tamil Nadu's finance minister had the DMK won.
Merger of the three key ministries is expected to help in removing the hurdles in these areas.
Urjit Patel said said the process of remonetisation was on and estimation of costs was a complex exercise.
The bank's response came to a clarification sought by stock exchange on recent reports on debit cards blocking in the wake of suspected data breach
As a politician, Yadav is amiable and a consensus-maker, not hamstrung by dogma.
A parliamentary panel on Friday opposed the new bank licences to corporate houses and voiced concerns over the discretionary power vested with RBI for applying 'fit and proper' criteria for deciding on applications.
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