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.
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.
'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 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 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.
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.
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.
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 deficit stood over Rs 8 trillion in the first seven months of the current financial year. Non-tax revenues, comprising transfers from the RBI and dividends of the public sector units, shored up the Centre's revenues.
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 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.
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.
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).
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.
The Congress has, however, countered this saying someone who is not an MP of Rajya Sabha cannot be called to the House and there cannot be any discussion/reflection on or about an MP of Lok Sabha.
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.
'There are many options before opposition parties and this nation has a wealth of leadership.'
'We want to send a notice to the BJP that Rajputs are no longer their slaves.'
Opposition parties, including the Congress, Trinamool Congress, Bharat Rashtra Party and Samajwadi Party, came together in a show of unity on Thursday and accused the Modi government of getting the second half of the budget session washed out, while asserting that if this attitude continues, the country will move towards a "dictatorship".
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 performance of any government is benchmarked on five parameters -- India's external security, the state of the economy, social cohesion, internal security, and India's relations with the world or its foreign policy. On each of the benchmarks in the past nine years, the NDA-BJP government has come up completely short'
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.
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.
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.
One per cent TDS will apply on non-agriculture immovable property of over Rs 50 lakh on the basis of sale price or the stamp duty value, which ever is higher, after an amendment in the Income Tax Act.
Aditya Birla Money MD talks about liquidity concerns in the market.
Jaitley said an effective multi-modal logistics and transport system will "make our economy more competitive.
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.
Pranab Mukherjee's speech was so boring that half of the Treasury benches were found napping. Newsmen peeped from the Press Gallery to see the mood of the MPs.
Communist Party of India's member of Parliament Binoy Viswam on Monday submitted a notice to move a privilege motion against Union minister Ashwini Vaishnaw for his statement in Parliament last year on the Pegasus spyware issue.
The much-delayed Women's Reservation Bill may not come up in the Budget session of Parliament as it has to be scrutinised by a new Parliamentary panel. A Union minister, who declined to be identified, said work needed to be done on the Bill which was before the Standing Committee on Law and Justice.
Senior Congress leader Jairam Ramesh on Saturday said he does not see a 'middle path' to end the logjam in Parliament as the Opposition's demand for a Joint Parliamentary Committee (JPC) probe into the Adani issue was 'non-negotiable' and the question of an apology over Rahul Gandhi's remarks in the United Kingdom does not arise.
In the wake of uproar over the massacre of 76 security personnel in a Naxal attack in Dantewada, Chhattisgarh, both the Houses of Parliament were adjourned till 2 pm on Thursday.
Union Finance Minister Pranab Mukherjee, while presenting the Union Budget in Parliament on Monday, announced that it is proposed to add one handloom mega cluster each in West Bengal and Tamil Nadu and one powerloom mega cluster in Rajasthan.
The Bharatiya Janata Party on Thursday threatened to block proceedings in the upcoming Budget Session of Parliament if Union Home Minister Sushil Kumar Shinde was not sacked over his controversial remark on 'Hindu terror'.
Cheer up, the coming Union Budget might just make your imported tipple more affordable - on a par with local booze.
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