Sheela Bhatt recounts the tension, suspense and disruptions during P Chidambaram's interim budget in the Lok Sabha on Monday.
He claimed that out of 90 secretaries of the government of India, only three are from the Other Backward Classes and control only five per cent of the Budget, which he said was an "insult" to the backward classes.
The contentious anti-corruption Lokpal bill will come up for discussion next month in Parliament after the ongoing one-month recess of the budget session, Union Minister V Narayanasamy said on Sunday.
Current account deficit in 2010-11 will be well below 3.0 per cent of GDP.
Senior bureaucrats say the government has planned a 'feel-good' Budget after the 'pain' of demonetisation.
ITC was the top laggard in the Sensex pack, tanking 6.97 per cent, followed by L&T, HDFC, SBI, ONGC, ICICI Bank and IndusInd Bank.
Reserve Bank Governor Shaktikanta Das on Thursday said cryptocurrencies are a "threat to macroeconomic and financial stability" and cautioned investors against punting on them, days after the Union government's move to tax the gains made from cryptocurrency trades. In the Union Budget for 2022-23 presented in Parliament on February 1, the government proposed levying a 30 per cent tax on gains made on cryptocurrency trades by investors and the announcement was welcomed by cryptocurrency industry players, saying it legitimises their trades. Das invoked the 17th century 'tulip mania', widely considered to be the first financial bubble, to caution investors, saying the cryptocurrencies do not even possess the value of the exotic flower.
Congress leader Adhir Ranjan Chowdhury raised the Karnataka issue and accused the ruling party of 'poaching' its MLAs in the state.
If they will allow I will speak inside the parliament, the Wayanad MP said.
The Budget oration of the finance minister and the confidence with which she delivered it, along with the measures and the recent upsurge in the economy would all contribute to unleashing the storied 'animal spirits' and help the economy run on the growth path quite smoothly. Or so the government hopes, notes Shreekant Sambrani.
'One thing is sure: After this Budget, no Ambani-Adani tag will be attached to the government.'
For the first, Jaitley said the Parliament held a comprehensive debate on sanitation.
The government may be staring at a modest slippage in fiscal deficit for 2022-23 (FY23), with the Ministry of Finance seeking parliamentary approval for additional spending through a second and final tranche of supplementary demands for grants. On Monday, as the Budget session of Parliament resumed, Finance Minister Nirmala Sitharaman sought Parliament approval for additional gross spending of Rs 2.7 trillion in FY23 (which ends on March 31). While net cash outgo is pegged at Rs 1.48 trillion, the rest will be matched by savings or enhanced receipts, the finance ministry said.
Government looking at cushioning slowdown due to demonetisation with sops and higher outlay for micro, small and medium enterprises, agriculture, and affordable housing.
Several members in a parliamentary panel have pitched for quick implementation of the Centre's proposed move to double salary and allowances of MPs and insisted that report of any government-constituted committee on the matter must be channelled through it.
Stepping up their attack on Rahul Gandhi for his 'democracy under brutal attack' remark in the United Kingdom, Bharatiya Janata Party leaders, including Union ministers, on Thursday demanded an apology from the Congress leader insisting that he was 'not above Parliament'.
'The clubbing of policy announcements in the Budget speech creates policy surprises.' 'Economic actors dislike policy surprises because they throw their plans off track,' points out Alok Tiwari.
The PMO should also present an annual report, on the state of politics and society
Earlier, the chief minister of Punjab had written in the same vein to the prime minister.
Borrowing at 29 paise will account for the largest share of every rupee that the government will use for financing the Union Budget 2010-11, while will it spend the most - 21 paise - on central plan.
Presenting the Union Budget for the year 2012-13, the Finance Minister informed the Lower House of Parliament that the enrolments into the other system have already crossed 20 crore (200 million) and the Aadhaar numbers generated upto date has crossed 14 crore (140 million).
The proposed law seeks bars on storing and processing of personal data by entities without the explicit consent of an individual. It, however, provides for exemptions for "reasonable purposes" such as "prevention and detection of any unlawful activity including fraud, whistle-blowing, merger and acquisitions, network and information security, credit scoring, recovery of debt, processing of publicly available personal data and the operation of search engines".
The Rajya Sabha on Wednesday approved the bill giving primacy to Delhi's Lieutenant Governor (L-G) over the elected government after high drama in the House that saw uproar by the opposition and a walkout by MPs of parties like the BJD, SP, Congress and the YSRC.
The government said on Friday a Bill to amend the Companies Act, 1956, will be introduced in the Budget Session of the Parliament next year, while the new accounting standards for firms in India is expected to be in place by January next year.
The Reserve Bank on Friday said it will soon commence the pilot launch of e-rupee for specific use cases with a view to bolstering India's digital economy, making payment systems more efficient, and checking money laundering. In a concept note on Central Bank Digital Currency, the RBI said CBDC is aimed to complement, rather than replace, current forms of money and is envisaged to provide an additional payment avenue to users, not to replace the existing payment systems. "Supported by state-of-the-art payment systems of India that are affordable, accessible, convenient, efficient, safe and secure, the Digital Rupee (e?) system will further bolster India's digital economy, make the monetary and payment systems more efficient and contribute to furthering financial inclusion," the paper said.
He said politicians should work for non-political causes as well as they have a lot of impact on society. In this context, Modi noted the Gujarat government's work for "beti bachao" (save daughters) when he was the chief minister and said it helped a lot in improving the gender ratio.
The meeting was held at the newly built convention centre at Pragati Maidan, which will host the G20 summit in September.
Amarinder Singh was ousted from the party and he later joined the Bharatiya Janata Party.
Presenting the Union Budget in Parliament recently, finance minister Pranab Mukherjee proposed estimated divestment proceeds of Rs 1,120 crore (Rs 11.2 billion) for 2009-10, which includes divestment in Rail India Technical and Economic Services, Cochin Shipyard Ltd, Telecommunications Consultants India Ltd, Manganese Core India Ltd, Rashtriya Ispat Nigam Ltd and Satluj Jal Vidyut Nigam Ltd.
The Centre is looking to convene a meeting of the all-powerful Goods and Service Tax Council in early January. The meeting is likely to focus on rectifying the inverted duty structure for a few more items and will also serve as a platform for pre-Budget discussions between Union Finance Minister Nirmala Sitharaman and state finance ministers, Business Standard has learnt. "The current Winter Session of Parliament ends on December 23, followed by the Christmas-New Year period. "After that we would like to have a meeting of the GST Council, depending on whether there can be a quorum," a top government official said.
A private member resolution seeking that the government implement the recommendations of the Sachar Committee report and other reports that have discussed the educational and social backwardness of Muslims and enact a legislation for the prevention of atrocities against minorities was moved in the Rajya Sabha on Friday.
The S&P BSE Sensex ended 80 points up at 23,789 while the Nifty50 closed at 7,235, up 24 points.
The bill to set up an Airport Economic Regulatory Authority, which will fix tariffs for different agencies involved in airport operations and management, will be introduced in the budget session of Parliament next year.
MPs cutting across party lines were seen violating social distancing norms during President Ram Nath Kovind's address to the joint sitting of both houses of Parliament on Monday.
The uncertainty over the implementation of the new tax continues as the Finance Bill has not been passed by the Parliament. Finance minister P Chidambaram had announced in his Budget proposal that the levy would come into effect from April 1. The uncertainty over the implementation of the new tax continues as the Finance Bill has not been passed by the Parliament. P Chidambaram had announced in his Budget proposal that the levy would come into effect from April 1.
Aditya Birla Money MD talks about liquidity concerns in the market.
Finance Secretary Hasmukh Adhia vacates his post on November 30 and Expenditure Secretary Ajay Narayan Jha, the second seniormost bureaucrat in the finance ministry, retires on January 31, the day before Jaitley presents the 2019-20 interim budget.
On March 13, Minister of State for Finance Pankaj Chaudhary had tabled the second batch of supplementary demands for grants in the House amounting to a total of Rs 2,70,508.89 crore.
Union Textiles Minister Dayanidhi Maran has hailed the Budget proposals-2010-11 presented in Parliament on Friday. The minister said that these initiative for the textiles sector as a growth spurring initiatives , which dovetail with economic revival, infrastructure development, agriculture development, inclusive growth and restoring export growth.
Jaitley said an effective multi-modal logistics and transport system will "make our economy more competitive.
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