News for 'Union Finance Ministry'

'No government ever stooped so low'

'No government ever stooped so low'

Rediff.com30 Oct 2023

'It is violation of the Model Code of Conduct.' 'It is a penal offence under the IPC to exert undue influence on voters.' 'Under the election law, it is a corrupt practice.'

Mahua with Bengal cops' help stalking me, lawyer complains to CBI

Mahua with Bengal cops' help stalking me, lawyer complains to CBI

Rediff.com3 Jan 2024

Speaking to ANI on Wednesday, Dehadrai said, "I have given my complaint to the CBI. This is a very serious issue and there are people from Odisha who are financing and supporting those against whom I have filed a complaint (to the CBI). This fight is a bit dangerous but I will not back down."

Why Arun Jaitley's next Budget won't be just a pre-election exercise

Why Arun Jaitley's next Budget won't be just a pre-election exercise

Rediff.com31 May 2017

Besides advancing the presentation of the Budget to perhaps the first week of January, , there are four new initiatives that could be rolled out from the next Budget, says A K Bhattacharya.

Will the recent political troubles impact the Budget?

Will the recent political troubles impact the Budget?

Rediff.com31 Dec 2010

As 2010 comes to an end, the mood in North Block is not that sanguine.

'Doubts About Longevity Of Modi Govt'

'Doubts About Longevity Of Modi Govt'

Rediff.com24 Jun 2024

'I have serious doubts about the longevity of the NDA government and the longevity of the 18th Lok Sabha itself.'

Tourism ministry wants major tax incentives

Tourism ministry wants major tax incentives

Rediff.com23 Jun 2009

The tourism ministry wants rationalisation of import duty on adventure sports equipment to promote adventure tourism in the country. There is a proposal for exemption of service tax for inbound tour operators on their foreign exchange earnings. Sources said Tourism Minister Kumari Selja would submit the detailed proposals to the finance ministry, seeking various tax incentives for the sector.

The case that led to Chidambaram's downfall

The case that led to Chidambaram's downfall

Rediff.com22 Aug 2019

Chidambaram has not been named as an accused in the FIR and the CBI is yet to file a chargesheet in the matter.

Questions raised on viability of Mor panel's banking report

Questions raised on viability of Mor panel's banking report

Rediff.com21 Apr 2014

The committee's suggestion that existing commercial banks be allowed to hold payment banks as subsidiaries is also seen as unviable by RBI and the finance ministry.

Allow hybrid mode hearings, technology not judges' choice, SC tells HCs

Allow hybrid mode hearings, technology not judges' choice, SC tells HCs

Rediff.com6 Oct 2023

The top court drew parallel between driving and technology and said if one doesn't know how to handle technology then he or she can't be a judge and questioned the approach of some of the high courts.

Jaitley continues to be on life support; Advani visits AIIMS

Jaitley continues to be on life support; Advani visits AIIMS

Rediff.com20 Aug 2019

Union ministers Mukhtar Abbas Naqvi, Thaawarchand Gehlot, Ravi Shankar Prasad and Santosh Gangwar, Delhi Lieutenant Governor Anil Baijal, BJP national general-secretary Arun Singh and party MP Maneka Gandhi also visited the hospital to know about his wellbeing.

Rs 19,518 cr allocated to metro projects across India

Rs 19,518 cr allocated to metro projects across India

Rediff.com1 Feb 2023

Finance Minister Nirmala Sitharaman in her speech in Lok Sabha said, "Our vision for the 'Amrit Kaal' includes technology-driven and knowledge-based economy with strong public finances, and a robust financial sector. To achieve this, Jan Bhagidari through Sabka Saath Sabka Prayas is essential."

Rs 3073 allocated to Sports Ministry

Rs 3073 allocated to Sports Ministry

Rediff.com6 Jul 2009

The government on Monday allocated an increased sum of Rs 3073 crore for the Sports Ministry in the Union budget for fiscal 2009-10, and also proposed to sanction Rs 3472 crore for next year's Commonwealth Games. The budget for the Ministry of Youth Affairs and Sports has been increased by Rs 1480 crore than what was proposed in the interim budget presented before the Lok Sabha elections.

Fiscal deficit for 2020-21 at 9.3% of GDP

Fiscal deficit for 2020-21 at 9.3% of GDP

Rediff.com31 May 2021

Fiscal deficit for 2020-21 was at 9.3 per cent of the gross domestic product (GDP), lower than 9.5 per cent estimated by the finance ministry in the revised Budget estimates, according to the CGA data. Unveiling the revenue-expenditure data of the Union government for 2020-21, the Controller General of Accounts (CGA) on Monday said that the revenue deficit at the end of the fiscal was 7.42 per cent.

Housing fund not for projects under litigation: Govt

Housing fund not for projects under litigation: Govt

Rediff.com7 Nov 2019

The finance ministry also said the maximum funding will be Rs 400 crore for any single project that will be seeking assistance from the 'special window' for completion of the 1,508 projects comprising about 4.58 lakh units.

Printing of Budget document begins with 'halwa' ceremony

Printing of Budget document begins with 'halwa' ceremony

Rediff.com19 Jan 2017

The first Budget of Independent India was presented by R K Shanmukham Chetty on November 26, 1947.

Tourism promotion goes into mission and challenge mode

Tourism promotion goes into mission and challenge mode

Rediff.com1 Feb 2023

At least 50 travel destinations would be developed as a "complete package" and states will be encouraged to set up a 'unity mall' for the sale of their products, Finance Minister Nirmala Sitharaman announced in the Budget on Wednesday, asserting that promotion of tourism will be taken up on a "mission mode".

Budget 2022: Centre may not target sharp fiscal correction

Budget 2022: Centre may not target sharp fiscal correction

Rediff.com28 Dec 2021

While presenting her 2021-22 Union Budget, Finance Minister Nirmala Sitharaman had set a fiscal deficit target of 6.8 per cent of nominal gross domestic product (GDP) against the 2020-21 Revised Estimate of 9.5 per cent. The fiscal correction in the upcoming 2022-23 Union Budget is unlikely to be that steep. Even as discussions among top Budget-makers are ongoing, the fiscal deficit target for 2022-23 may likely be in the range of 6.5-6.8 per cent.

Rubaiya case: Yasin Malik, aide appear in court; another accused identified

Rubaiya case: Yasin Malik, aide appear in court; another accused identified

Rediff.com2 Nov 2023

Ali Mohammad Mir, who is the prime accused in the kidnapping case after Malik, had taken Rubaiya Sayeed in his vehicle to Sopore from Srinagar and kept her at a guesthouse.

SC rejects govt's sealed cover on OROP, issues timeline to pay arrears

SC rejects govt's sealed cover on OROP, issues timeline to pay arrears

Rediff.com20 Mar 2023

"I am personally averse to sealed covers. There has to be transparency in court... This is about implementing orders. What can be secret here," the CJI said.

Forget tax cuts, Sitharaman advised against Budget sops

Forget tax cuts, Sitharaman advised against Budget sops

Rediff.com11 Jun 2019

FinMin does not expect tax or non-tax revenue to reach anywhere close to the targets set in the interim Budget. Sources say that the challenge before the new government will be either to accept the reduced projection and tailor the Budget accordingly or set a more ambitious target.

Govt to borrow Rs 5.03 lakh cr in H2 FY'22 to fund revenue gap

Govt to borrow Rs 5.03 lakh cr in H2 FY'22 to fund revenue gap

Rediff.com27 Sep 2021

The government will borrow Rs 5.03 lakh crore in the second half of the current fiscal to fund the revenue gap for reviving the pandemic-hit economy, the finance ministry said on Monday. During the first half, the government has raised Rs 7.02 lakh crore by issuing bonds, the ministry said in a statement. "Out of gross market borrowing of Rs 12.05 lakh crore projected for FY 2021-22 in the Union Budget, Rs 7.24 lakh crore (60 per cent) was planned to be borrowed in first half (H1).

3 witnesses fail to appear before TADA court in cases involving Yasin Malik

3 witnesses fail to appear before TADA court in cases involving Yasin Malik

Rediff.com14 Dec 2023

In the case of the killing of the IAF personnel in a terror attack in Srinagar in 1990, the court had summoned two witnesses for identification, but they could not appear citing medical reasons, Bhat said, adding that both of them had to come from outside.

A something-for-everyone Budget or an epoch-making one a la 1991?

A something-for-everyone Budget or an epoch-making one a la 1991?

Rediff.com26 Feb 2015

The Budget shouldn't be stuck on fiscal numbers, the PMO apparently said.

House panel raps FinMin over dated NPA data

House panel raps FinMin over dated NPA data

Rediff.com17 Jan 2014

RBI will make a presentation on January 24 before the panel on the state of NPAs and stressed loans.

Asset monetisation worth Rs 96,000 crore completed

Asset monetisation worth Rs 96,000 crore completed

Rediff.com13 Apr 2022

The Centre has completed asset monetisation worth Rs 96,000 crore during FY22, surpassing the target of Rs 88,000 crore. For FY23, it has set itself a goal of Rs 1.62 trillion, and already has a pipeline of assets worth Rs 1.6 trillion under advanced stages of implementation, an official said. Union Finance Minister Nirmala Sitharaman on Tuesday reviewed the progress made by several ministries and nudged departments to achieve the targets set for them, the official added.

Railways to save Rs 10,000 cr after budget merger

Railways to save Rs 10,000 cr after budget merger

Rediff.com13 Sep 2016

Finance Minister Arun Jaitley will take a final call on whether to break the tradition of presenting a separate Rail Budget, by merging it with the General Budget.

Do we need so many income tax staffers?

Do we need so many income tax staffers?

Rediff.com11 Aug 2021

The preliminary processing of tax returns is already undertaken with the help of technology. There is now greater scope of using more technology to reduce the human interface even further, notes A K Bhattacharya.

3 Things To Note About The Budget

3 Things To Note About The Budget

Rediff.com16 Feb 2022

Budget for 2022-2023 has returned to its agenda for protectionism in the name of creating a self-reliant India, points out A K Bhattacharya.

Ending the Railway Budget, a step in the right direction

Ending the Railway Budget, a step in the right direction

Rediff.com2 Sep 2016

The best way for the railways to become more professional will be to get corporatised.

Ending Rail Budget is Mr Prabhu's first step in the right direction

Ending Rail Budget is Mr Prabhu's first step in the right direction

Rediff.com31 Aug 2016

He has now to show that he can take on the vested interests within the railways which are resisting change through corporatisation

5 proposals govt will discuss with RBI on November 19

5 proposals govt will discuss with RBI on November 19

Rediff.com12 Nov 2018

There is as yet no clarity on how the process of consulting with the RBI Governor, initiated under Section 7 of the RBI Act, would unfold in the coming days. The government is keen that its suggestions made in the public interest should be heeded by the central bank, says A K Bhattacharya.

PF accounts to get lower returns this year

PF accounts to get lower returns this year

Rediff.com13 Mar 2012

Around 61 million subscribers of the Employees Provident Fund Organisation (EPFO) are likely to get lower returns on their deposits this year.

Municipal investment: Centre for pool financing

Municipal investment: Centre for pool financing

Rediff.com5 Mar 2007

The Centre has approved setting up of a pooled finance development fund to enable urban local bodies to access capital and financial markets for investment in municipal infrastructure.

Finance Commission's recommendations: Will they help India bridge fiscal deficit?

Finance Commission's recommendations: Will they help India bridge fiscal deficit?

Rediff.com25 Feb 2015

FinCom prescribes scrapping of effective revenue deficit.

Union Budget likely to be presented on Feb 1

Union Budget likely to be presented on Feb 1

Rediff.com20 Sep 2016

The entire Budget-making exercise will be advanced by 3-4 weeks so as to complete the legislative part of financial business before April 1, the start of a financial year

EPF: Unions to hold nationwide protest

EPF: Unions to hold nationwide protest

Rediff.com11 Jan 2006

Central trade unions on Wednesday decided to hold a nationwide demonstration on January 20 against the government's notification of 8.5 per cent EPF rate for the current fiscal.

TCS bags electronic passport mandate from MEA

TCS bags electronic passport mandate from MEA

Rediff.com8 Feb 2022

Tata Consultancy Services (TCS) has bagged -- from the Ministry of External Affairs -- the contract for delivering electronic passports (e-passports), according to sources. This deal is in addition to the second phase of implementing the Passport Seva Program, which the company got from the ministry. Players such as Thales India and HP participated in this deal, which is expected to be of Rs 1,000-1,200 crore.

SC asks Sebi to probe allegations against Adani group

SC asks Sebi to probe allegations against Adani group

Rediff.com2 Mar 2023

The Supreme Court on Thursday asked the Sebi to probe within two months allegations of stock price manipulation by the Adani group and any lapses in regulatory disclosures, and also set up a panel to look into protection of Indian investors after a damning report by a US short seller wiped out more than USD 140 billion of the conglomerate's market value. The top court while directing the setting up of a six-member committee headed by former apex court judge Justice A M Sapre for the assessment of the extant regulatory framework and for making recommendations to strengthen the process said it was appropriate to set up such a panel of experts in order to "protect Indian investors against volatility of the kind which has been witnessed in the recent past". The court-appointed Justice Sapre panel, which will be provided assistance by the Centre and other statutory agencies including the Sebi chairperson, will have to submit its report in a sealed cover within two months, said the bench which comprised Chief Justice D Y Chandrachud and Justices P S Narasimha and J B Pardiwala.

Is Defence Budget Enough To Counter China, Pakistan?

Is Defence Budget Enough To Counter China, Pakistan?

Rediff.com10 Feb 2023

To threaten China and Pakistan, and then to sharply cut back on military funding, bespeaks a remarkable trust in Beijing and Islamabad that is not borne out by anything they say or do, notes Ajai Shukla.

Is It Time For 5 Regional RBIs?

Is It Time For 5 Regional RBIs?

Rediff.com7 Feb 2023

Despite its admirable competence and proven track record, the RBI doesn't have the capacity to supervise an economy that's growing so fast and becoming larger by the year, points out T C A Srinivasa Raghavan.