The drive of the disinvestment department to move ahead with its plan to raise Rs 40,000 crore was often neutralised by the desire of the administrative ministries to get better valuation and better price for the shares of the companies put on the block.
Sources in the Delhi government said the ministry of home affairs has stopped the Kejriwal government's budget and it will not be tabled in the assembly on Tuesday.
The bamboo water bottle is priced at Rs 560 and the soap variant of 125 grams costs Rs 125 each.
The Finance Audit and Investment committee recommended 8.95% interest.
'Reports in a section of media regarding Union Minister Shri Arun Jaitley's health condition are false and baseless. Media is advised to stay clear of rumour mongering,' Government Spokesman Sitanshu Kar tweeted.
The Union finance ministry is planning to make rules regarding wilful defaulters more stringent, so that criminal charges can be pressed against such entities.
This meeting has led to the deferment of the Goods and Services Tax (GST) Council meeting by a day.
Jaitley said note ban has compelled people to deposit money into bank accounts.
'The numbers are null and void now. Look, we can give out projections now, but we know that a week later those numbers will also be irrelevant. So we need to wait,' a top government official said.
The government and MMRDA are keen to develop the 22-km link, which will connect Sewri on the island city to Nhava Seva in Navi Mumbai, on an engineering, procurement and construction basis and not on the build-operate transfer model, considering past experience.
'I have no problems with the finance ministry or with state governments treating petrol pump prices as the last resort for meeting their ambitious spending targets with very limited revenue resources.' 'But let's do away with this smokescreen of free pricing of petrol and diesel and go back to administered pricing regime,' says Dr Sudhir Bisht.
In its recommendations to the finance ministry, the commerce ministry has made a strong case for helping exports, particularly in the labour-intensive sectors like leather, textile and handicrafts.
PNB took the delivery of these high-end luxury cars worth approximately Rs 1.34 crore last month, unmindful of the coronavirus outbreak, subsequent nation-wide lockdown and its crippling effect on the financial sector as well as the economy. The annual depreciation on this purchase will be around about Rs 20 lakh.
Budget may allow use of advance-pricing agreements for past cases.
Any reduction in devolution could aggravate the strained relations between the Centre and some opposition-ruled states on a number of issues, including CAA.
This decision would pave the way for crediting Rs 54,000 crore as 8.65 per cent interest for 2018-19, into the accounts of more than 6 crore EPFO subscribers.
The Centre is unlikely to offer new direct tax incentives for units operating in special economic zones (SEZs) and may instead allow the grandfathering of previous exemptions that such units were entitled to, according to proposed amendments to the SEZ Act, 2005, people aware of the matter said. The amendments, proposed by the commerce department, will soon be considered by the Cabinet for approval. This represents a departure from the department's earlier plan to introduce these changes through the Development Enterprises and Services Hubs (DESH) Bill, 2023, which faced strong criticism from the ministry of finance.
Petrol and diesel prices were hiked for the fourth consecutive day on Saturday by 35 paise per litre, pushing the total increase in rates on petrol to Rs 36 per litre and on diesel to Rs 26.58 since early May 2020 when taxes on the two fuels were raised to record levels. Petrol in Delhi now costs Rs 107.24 a litre and diesel comes for Rs 95.97, according to a price notification of state-owned fuel retailers. The latest increase that follows the unrelenting hike in international oil prices has pushed pump rates across the country to their highest-ever levels.
Earlier this month, the Union Cabinet had approved the merger of SBS with SBI. The boards of both the banks had given their approval for the merger in August last year. SBS is a wholly-owned subsidiary of the State Bank of India. The merger would be effective from the 'date as may be notified by the Govt of India in the official Gazette'.
Unlike any other business, banking is a turf where the captain's role is the most critical. Often a bank is defined by the personality of the CEO who runs it. Both HDFC Bank and Kotak Mahindra Bank are the creation of their CEOs, notes Tamal Bandyopadhyay.
'If more than 60 commissioner-level tax officials were compulsorily retired in the span of a few months, surely the malaise is far deeper,' notes A K Bhattacharya.
Prime Minister Narendra Modi's state visit to the US is expected to see discussion on India's possible entry into a US-led global alliance on critical minerals, officials told Business Standard. In June last year, the US, the European Union, and other G7 partners launched the Minerals Security Partnership to ensure that China did not further strengthen its grip on supplies of critical minerals the world over. Various ministries, including the Ministry of Finance, have communicated to the Ministry of External Affairs to explore the possibility of India joining the partnership, officials said.
"In view of the crisis arising out of Covid-19, it has been decided that additional instalment of dearness allowance payable to central government employees and dearness relief (DR) to central government pensioners due from January 1, 2020, shall not be paid. "The additional instalment of DA and DR due from July 1, 2020, and January 1, 2021, shall also not be paid," the department of expenditure said in an office memorandum.
Union Finance Minister Pranab Mukherjee has brought about a coup in North Block by bringing an Indian Foreign Service officer Venu Rajamoni as Joint Secretary to head multilateral institutions division.
Gujarat Chief Minister Anandiben Patel and the finance minister were in the commercial capital to participate in a road show organised jointly by the Gujarat government and Confederation of Indian Industry for the Vibrant Gujarat summit, slated for January next year.
"There were discussions and the ministry had received suggestions that petrol-diesel vehicles should be banned. I would like to clarify that the government does not intend to ban petrol and diesel vehicles. We are not going to do anything like that," Gadkari said, addressing a gathering at the Society of Indian Automobile Manufacturers (SIAM) annual convention, 2019.
Why is Union Finance Minister P Chidambaram worried? Who has the sharpest eye in the Congress? How is the Union law minister tackling the turmoil in his ministry? Catch up on all the gossip from Delhi, in this week's Dilli Gupshup.
The ministry said it was an anti-abuse provision amid growing instances of NRIs shifting their stay in low or no-tax jurisdiction to avoid tax payment in India.
The ED identified the properties as Fatima Heights and Aafiyah Heights in Mumbai, an unnamed project in the Bhandup area of Maharashtra's capital city and a project named Engracia in Pune.
A committee on digitalisation headed by Andhra Pradesh Chief Minister Chandrababu Naidu had in an interim report recommended taxing cash transactions of at least Rs 50,000 to promote digital payments.
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 finance minister hiked the total defence expenditure from Rs 203,672 crore in FY 2013-2014 to Rs 229,000 crore for FY 2014-2015. Though the increase appears substantial, it is insufficient to undertake the military modernisation necessary to meet the emerging threats, feels Brigadier Gurmeet Kanwal (retd).
New body to replace Plan panel might retain 40% of existing staff
The Indian stock markets may turn bearish after the US Fed decides to raise interest rates.
'The rate of interest from the EPF is still attractive compared to the rates on fixed deposits, National Savings Scheme, Public Provident Fund...'
He will be the first bureaucrat to head the central bank in almost five years.
In December last year, the finance ministry had asked five state-run banks -- Punjab National Bank, Canara Bank, Union Bank of India, Bank of Baroda and Bank of India -- to explore merger opportunities in the banking industry.
The FM said an announcement with regard to the additional steps will be made after consulting Prime Minister Narendra Modi.
The Supreme Court on Tuesday upheld the validity of two central laws and the corresponding rules that provide for a maximum tenure of five years for the directors of the CBI and Enforcement Directorate.
'The people of Tamil Nadu in particular Chennai know about the double standards of the BJP. Nothing will work for them here.'
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