'If the BJP detoxifies the nuclear liability law, it will bring economic, environmental and, most of all, strategic benefits.' 'Let's keep our fingers crossed and hope that this Budget promise is met soon -- ideally, before Mr Modi heads to his first meeting with Trump 2.0,' observes Shekhar Gupta.
Real estate developers are hoping that the slew of tax concessions announced in Union Budget 2025, set to take effect this financial year, will spur demand for affordable and mid-segment housing, even as the broader housing market shows signs of fatigue.
The revamped Special Economic Zone (SEZ) law is unlikely to see the light of the day before the upcoming Lok Sabha elections, two people aware of the matter said. The commerce department had sought the Union Cabinet's nod to bring amendments to the existing SEZ Act, 2005 late last year. The plan, thereafter, was to introduce the Bill in the winter session of Parliament. Cabinet's approval remains pending.
The Union finance ministry on Thursday issued a clarification on the changes in FEMA rules which brings overseas international credit card spending under the RBI's liberalised remittance scheme (LRS). Here's how it affects you.
'It has been an ongoing process, talking to the relevant ministries about eliminating leakages and curbing non-core expenditure in various schemes.'
Finance Minister Nirmala Sitharaman on Friday pitched for front loading of capital expenditure, saying it is critical for revitalisting the economy post the coronavirus pandemic. During a virtual meeting with senior government officials to discuss the infrastructure roadmap ahead, she also asked ministries to aim to achieve more than their capital expenditure (capex) targets. The Union Budget 2021-22 provided a capital outlay of Rs.5.54 lakh crore, a sharp increase of 34.5 per cent over the Budget Estimate of 2020-21.
This will violate the time-honoured convention that a government elected for a five-year tenure presents only five full Budgets, but the NDA government will no doubt present it as yet another initiative of Mr Modi.
Finance Minister Nirmala Sitharaman on Thursday presented her sixth Budget in a row, equalling the record of former Prime Minister Morarji Desai.
The government on Tuesday proposed to launch a mission to give fillip to the domestic output of critical minerals like copper and lithium, their recycling as well as acquisition of such assets abroad. Presenting Union Budget for 2024-25, Finance Minister Nirmala Sitharaman also said the government will launch the auction of the first round of offshore mining blocks.
Earlier, finance ministry officials had said sovereign bonds could address the financing problems of the CAD and the infrastructure sector.
Budget has already bombed at the box office and passing it without a revisit will be a mockery of the exercise though any modification may be short lived and perfunctory, observes V Ranganathan.
Move aimed at speeding up process, checking corruption in funds' transfer.
The Goods and Services Tax (GST) Council, scheduled to meet on June 22, could take a call on ending uncertainty on taxing foreign airlines and shippers as regards certain services, a senior official in the know told Business Standard. He said the Council was expected to decide on exempting the services in question from GST - aircraft lease rentals, maintenance, crew salaries, etc. These services are provided by foreign airlines to their Indian operations.
From the rollback of customs duty on key electronic components to fast tracking delivery of goods imported from China, players are looking for incentives on several counts.
Backloading the government's borrowing programme suggests the finance ministry's confidence in better revenue numbers, says A K Bhattacharya.
Five days after the induction of 18 ministers into his cabinet, Maharashtra Chief Minister Eknath Shinde on Sunday allocated portfolios, keeping Urban Development and 11 other ministries with himself, while giving the crucial Home Department to Deputy CM Devendra Fadnavis.
Enterprising women business correspondents, known as BC Sakhis, have facilitated transactions worth Rs 27,000 crore in Uttar Pradesh, earning Rs 75 crore in commission over the past four and a half years. BC Sakhis, appointed under the nationwide women empowerment programme, are members of self-help groups (SHGs) who are trained and certified to provide banking and financial services in rural areas.
RBI Governor Raghuram Rajan will also participate in the meet.
Quibbling between the Centre and the states on who should provide more relief to consumers on fuel prices intensified with the latter asking the Union Government to give an account of accruals to it from the latest hike in petrol and diesel prices.
This ministry will provide a separate administrative, legal and policy framework for strengthening the cooperative movement in the country, sources added.
The move to extend the income tax benefits enjoyed by units covered by the Software Technology Parks of India Act and those set up in export oriented units by another year -- up to March 31, 2011 will benefit around 6,000 STPI units and 2,486 EoUs. In its budget-related wish list, the commerce ministry had recommended a three-year extension of the scheme, while the industry has been asking for five.
The lack of an informal communication channel is what should bother the government and the RBI, if they want to eliminate the undesirable outcomes of the current tension between the two, says A K Bhattacharya.
Even as the Congress Working Committee met on Monday morning to salute its seniormost member Pranab Mukherjee (who became a CWC member in 1978) and put on record its appreciation of his services both in the party and the government, the union finance minister spent his day tying up loose ends and saying his goodbyes.
The Union finance ministry has set up a special investigation unit to 'regulate' the funding and donations made to political parties.
In a move to help quicken the flagging pace of distribution reforms in the power sector, the Union finance ministry has approved the creation of a Rs 50,000-crore National Electricity Fund - first mooted in the 2008-09 Budget - for attracting investment in this area.
The stormy second part of Budget Session continues. Both houses of Parliament have been facing continuous protests by opposition parties over issues like fuel price hike.
State governments demanded on Tuesday that the Union government should share with them the service tax collection on a 50:50 basis
The deadlock over the 2G spectrum scam continued when the opposition rejected the government's offer of a probe by the Public Accounts Committee into the scam. Finance minister Pranab Mukherjhee had called for a luncheon meet on Monday afternoon to try and break the dealock which has paralysed parliamentary for the past eight days, where the opposition's repeated call for a Joint Parliamentary Committee has not allowed any business to be transacted in either house.
A bench of justices G S Singhvi and A G Ganguly asked the CBI to apprise it of their findings on March 15.
The Budget emphasises on capacity building and empowerment of marginalised sections of society including farmers.
While the exact figures of the total number of taxpayers who will be honoured is not known, officials said these numbers would be few lakhs.
As the role of the powers-that-be in the government comes under the scanner, pressure is being mounted on the two ED officers investigating the 2G case from the highest level, particularly the finance ministry.
The Left unions want concrete action and not just 'assurances'.
Finance ministry takes up a review of the STT regime after a meeting with stock exchange officials.
The Union finance ministry is in favour of increasing non-promoter shareholding in listed companies to 25 per cent of the equity base in a phased manner, so that the number of shares available for trading increases, said Finance Secretary Ashok Chawla.
The East District Consumer Disputes Redressal Forum made this recommendation while ordering Apollo Munich Health Insurance Co Ltd to pay over Rs 180,000 to a policy holder for not reimbursing his treatment expenses and illegally cancelling his insurance cover after he submitted his claim.
Chinese phone maker Xiaomi's India unit has been slapped with a Rs 653 crore notice for alleged evasion of import duty, as per an official statement. A show-cause notice has been slapped on Xiaomi India following recovery of documents during searches on its premises that indicated remittance of royalty and licence fee to US and Chinese firms under contractual obligations, the union finance ministry said on Wednesday. Replying to an email query, a Xiaomi spokesperson said, "At Xiaomi India, we give utmost importance to ensuring we comply with all Indian laws.
Forty-five specialists will soon be joining key posts of joint secretaries, directors and deputy secretaries in different central ministries as part of the Modi government's ambitious plan to infuse fresh talent to further improve ease of governance.
