In order to reduce government litigations, the Union Finance Minister Nirmala Sitharaman on Saturday said the GST Council has fixed a monetary limit for filing appeals by the tax department before the various appellate authorities. It has recommended a monetary limit of Rs 20 lakh for GST Appellate Tribunal, Rs 1 crore for the High Court and Rs 2 crore for the Supreme Court for filing of appeals by the department before these legal forums, she said after the 53rd GST Council meeting held in New Delhi.
When it comes to the Congress and Wayanad, the only way the scepticism in the minds of some in Kerala may be addressed is by the Gandhi family proving that they are more than a passing caravan in town, reports Shyam G Menon.
The Sri Lankan government has appointed an advisory committee comprising eminent economic and fiscal experts to provide guidance on addressing the current debt crisis and engaging with the International Monetary Fund (IMF) and other lenders as the country struggles to combat the unprecedented shortage of foreign reserves.
The finance ministry expects a broad-based moderation in inflationary pressures on the back of an anticipated reduction in food prices as a result of the uptick in summer sowing. The retail inflation rate remained stubbornly clung to the 5 per cent mark in seven of the past eight months. "Core inflation is trending downwards, indicating a broad-based moderation in price pressures... Driven by strong domestic growth and benign global commodity prices, core inflation is declining continuously.
China also removed Finance Minister Liu Kun and appointed Lan Fo'an in his place. Liu is the third senior Cabinet minister to be replaced without any explanation.
The government on Monday appointed three eminent economists Ashima Goyal, Jayanth R Varma and Shankanka Bhide as members of the rate-setting Monetary Policy Committee of the RBI
'The message is not clear whether we are wanted.' 'All this could adversely impact our strategy in India and also investments.'
Opposition charged the government with making Parliamentary Standing Committees irrelevant.
India has allocated Rs 1.72 trillion, or 27.67 per cent of the total defence budget to cater to modernisation of the country's arsenal. Modern militaries spend up to 50 to 60 per cent of their total defence budget so that they go into combat with superior weaponry and equipment.
Rejecting the demand for referring Insurance Bill to a Select Committee, the government on Thursday said the Congress was 'stonewalling' the key reform measure to deny credit to Prime Minister Narendra Modi before he goes to the United States.
Former Prime Minister Manmohan Singh, who is hailed as the architect of economic reforms in the country, is a member of the Parliamentary Standing Committee on Finance, it was announced on Tuesday.
While the responses of the candidates were predictable, depending on which side they belonged to, an interesting point slipped through when Rahul Shewale cited the Dharavi Redevelopment Project as a scheme that would add to Mumbai's importance. No big infrastructural project in Mumbai, he said, could be successful without the Centre's nod.
Amid the row over Congress leader Sam Pitroda's remarks, the party on Wednesday asserted that it has no plans whatsoever to introduce an inheritance tax and cited former Union minister Jayant Sinha's remarks to allege that it is the Modi government that wanted to do so.
It will be in Modi's interest to reinvent his party, read the writing on the wall that voters wrote, and move ahead. He has little choice now. The country is watching, asserts Ramesh Menon.
Even though the NIA claims that more than 90 per cent of cases charge-sheeted have ended in conviction, the figure is likely misleading. To date, very few cases investigated by the NIA have resulted in a completed trial, points out former CBI joint director Navneet Rajan Wasan.
The Parliamentary Standing Committee on Commerce has observed that a massive shortfall in the budgetary allocation of over Rs 1,900 crore by the finance ministry to the industry department may have an adverse impact on the implementation of infrastructure (infra) projects in 2022-23 (FY23). While the Department for Promotion of Industry and Internal Trade (DPIIT) had sought Rs 10,267 crore from the finance ministry for FY23, it received Rs 8,348-crore allocation. For the National Industrial Corridor Development & Implementation Trust (NICDIT), the finance ministry has allocated Rs 1,500 crore instead of Rs 2,400 crore demanded for the project.
The recess allows department-related standing committees to examine demands for grants of various ministries. The Finance Bill and related demands for grants are passed in the second phase of the Budget session.
The International Cricket Council seemed to have mend fences with the Board of Control for Cricket in India as president Anurag Thakur is now officially a part of the powerful Finance and Commercial Affairs after completion of its board meeting, in Cape Town, on Friday.
Santishree Dhulipudi Pandit won't be afraid to tangle with the toughest of them.
The report was presented at the UN Climate Convention Summit in Peru on Thursday by the UN Framework Convention on Climate Change's Standing Committee on Finance.
Senior tax officials were told to focus on cash collection from the arrears so that the target for FY23 was achieved and the overall revenue position improved.
'The standing committee on defence was flagging what the services had said.' 'As a soldier, General Khanduri might have felt that it was his duty to point this out in the greater good of India,' points out Aditi Phadnis.
The bill was taken up for consideration in the Lok Sabha after the Speaker rejected Opposition demands to refer the key reform measure to a parliamentary Standing Committee.
'The life of his political career is dependent on success in this constituency.'
Says Finance Ministry is working on tax structures as suggested by the Parliamentary committee
The political crisis arose in Himachal Pradesh during the recently held polling for the Rajya Sabha elections as nine MLAs, including six Congress rebels and three independents, voted in favour of BJP candidate Harsh Mahajan.
In its election manifesto -- 'Sankalp Patra' -- the Bharatiya Janata Party has vowed to implement the Union Civil Code (UCC), maintain peace in the Northeast, among other key poll promises.
'The people of Tamil Nadu in particular Chennai know about the double standards of the BJP. Nothing will work for them here.'
The Congress on Wednesday said the Supreme Court judgment on certain matters relating to transactions by the Adani Group has proven to be 'extraordinarily generous' to Securities and Exchange Board of India (SEBI) and asserted that the party's fight against crony capitalism and its ill-effects on prices, employment and inequalities will continue.
As the Narendra Modi government nears completing a year in office, the Congress on Wednesday stepped up its offensive against the prime minister accusing him of weakening democracy by running a "one-man show" while scoring maximum on "arrogance" and minimum on governance.
Taking a leaf from the US, Canada and the UK, where students and research scholars get to work with Parliamentary panels, Lok Sabha Speaker Sumitra Mahajan is pushing for induction of interns in the Parliamentary standing committees.
Parliamentary standing committee on labour, led by Biju Janata Dal MP Bhartruhari Mahtab, has said in its report that it is unjustifiable for owners to pay workers' wages during natural calamities.
Finance Minister Arun Jaitley appealed to parties to rise above partisan considerations to support it.
The government is likely to amend the death penalty clause in the Narcotic Drugs and Psychotropic Substances Act following observations of a Parliament Standing Committee.
Union Minister Piyush Goyal on Friday sought an apology from the Congress for the controversial statement by party MP that suggested a call for a separate south nation over fiscal injustice, but the opposition party's president said it stands for a united nation and will not tolerate any such call.
All GST anti-profiteering complaints would be dealt with by the Competition Commission of India (CCI) from December 1 as the extended tenure of National Anti-profiteering Authority ends this month, an official said on Tuesday. A notification in this regard is expected to be issued by the finance ministry later this month, the official added. The National Anti-profiteering Authority (NAA) was set up in November 2017 under Section 171A of Goods and Services Tax (GST) law to check unfair profiteering activities by registered suppliers.
Under Urjit Patel, the then RBI Governor, the central bank had a habit of making complete about-turns on various issues, including electoral bonds and digital payments, former finance secretary Subash Chandra Garg said in his book titled 'We Also Make Policy: An Insider's Account of How the Finance Ministry Functions.' Citing some instances of about-turns by the then RBI Governor Patel, Garg in his book said, RBI had done so on the electoral bond issue and it had so in case of setting up of Payments Regulatory Board (PRB). RBI also made unilateral decisions like ordering complete data localization for participation in the payment system, Garg wrote in the book which will hit the stands on October 1.
Observing that it does not propose to run the administration in Manipur, the apex court said necessary verifications shall be carried out before issuing the Aadhaar cards expeditiously.
The Parliamentary Standing Committee on Finance reportedly discussed market volatility on Monday, which was its second meeting on the issue.
The RBI was not party to the decision to demonetize 500 and 1,000-rupee notes, which was taken at the highest level of India's political leadership.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances