Given the gap between budgetary allocation and use, a parliamentary standing committee has asked the Ministry of Ayurveda, Yoga and Naturopathy, Unani, Siddha and Homeopathy (Ayush) to take steps to prevent underutilisation of funds under the National Ayush Mission (NAM) scheme. According to the data, the ministry was allocated Rs 1,200 crore for the mission in the Budgetary Estimate (BE) for FY24. The Revised Estimate (RE) for the year fell to Rs 815 crore, of which Rs 589 crore, or 74 per cent, has been spent till January.
The Union finance ministry has rejected a proposal sent by the labour ministry to double the monthly minimum pension amount to Rs 2,000 under the Employee Pension Scheme (EPS). The Central Board of Trustees (CBT), the apex decision-making body of the Employee Provident Fund Organisation (EPFO), was apprised of the proposal's rejection during a meeting on Saturday. "According to the recommendations made by a highly-empowered monitoring committee constituted by the government, a proposal to increase the minimum pension under EPS from Rs 1,000 to Rs 2,000 per month, by providing additional budgetary support, was sent to the ministry of finance.
To tackle increasing demand, the Union Ministry of Power has urged central and state public-sector power-generating companies (gencos) and state power and energy departments to pick projects that are undergoing insolvency proceedings. The power ministry is looking at a quicker turnaround of these stressed power plants and enhancing power supply. Increasing demand is pushing states to scout for more power sources. "It is requested that state-owned gencos may be encouraged to participate in the corporate insolvency resolution process (CIRP) of stressed power assets, which are of strategic and commercial significance to the capacity addition plans of the states concerned.
The finance ministry has cautioned that global and regional uncertainties and domestic disruptions may keep inflationary pressures elevated in the coming months, warranting "greater vigilance" by the government and the Reserve Bank of India (RBI). "Russia's decision to terminate the Black Sea grain deal, along with dry conditions in major wheat-growing areas, caused a price spike in cereals. Domestic factors like white fly disease and an uneven distribution of monsoon exerted pressure on vegetable prices in India," the ministry said in its latest Monthly Economic Report for July, released on Tuesday. However, the report maintained, the recent price surge in certain food items "is expected to be transitory". "Tomato prices are likely to decline with the arrival of fresh stocks by the end of August or early September.
The first train on the section where the accident happened in Balasore started its journey at around 10.40 pm on Sunday, 51 hours after the horrific crash which killed 275 people, officials said.
Maharashtra minister Dada Bhuse said the decision to impose export duty should have been taken with proper coordination.
A day after the Congress sought to reach out to its allies, party general secretary M Shakeel Ahmed on Saturday called on West Bengal Chief Minister Mamata Banerjee to discuss 'things important to the state and general national scenario'. Emerging from a meeting with Banerjee, which lasted for about 45 minutes, Ahmed told reporters, "It is a courtesy call. We discussed things which are important to West Bengal and the general national scenario."
The Madras high court on Tuesday issued notices to the government and the Central Bureau of Investigation on a petition seeking extradition of Liberation Tigers of Tamil Eelam operative Kumaran Padmanabhan, one of the main suspects in Rajiv Gandhi assassination case, from Sri Lanka.
With the situation in Libya remaining volatile, government on Tuesday said it was putting in place plans for possible evacuation of Indians whose number is around 18,000.
In a sudden development, senior Parliamentarian Jaswant Singh has resigned as chairman of the prestigious Public Accounts Committee, which he had refused to quit when he had a bitter parting of ways with the Bharatiya Janata Party four months ago. His resignation raised questions on whether there was any possibility of a rapprochement with the BJP, but the 71-year-old leader ruled that out, saying he did not take the action under 'any pressure' or with 'some calculation'.
To further tighten its control of practising accountants, the Centre has brought within the ambit of the Prevention of Money Laundering Act (PMLA) their "financial transactions" such as operating and managing their client firms and trusts, and buying and selling business entities. The Union finance ministry issued a gazette notification on this on Wednesday. Under the new rule, chartered accountants, company secretaries, and cost and works accountants carrying out such transactions (on behalf of their clients) will now be required to go through the Know Your Company (KYC) process before commencing work.
Now that the economy is growing at a higher-than-expected rate, it is time to accelerate the pace of fiscal consolidation, and the Budget could be a good starting point, argues Rajesh Kumar.
'Due to the imposition of AFSPA, our people have for so long suffered untold miseries and discrimination at the hands of security forces'
'Mr Minister, it has been more than five years for your government. There is no job creation. Whatever jobs were there, they have been snatched due to the economic slowdown brought by the government. You want to escape by insulting North Indians'
BJP president JP Nadda held a meeting with the ministers on Wednesday to deliberated on the exercise to be held between May 30 and June 15, and to finalise the tour plans.
The main responsibility for producing the Budget rests with the Budget Division of the Department of Economic Affairs in the finance ministry
The EPFO pays rate of return to its subscribers on the basis of returns it generates from its investments.
The oil ministry has stopped making fresh allocation of natural gas from domestic fields to the city gas sector, threatening the viability of Rs 2 lakh crore investment planned in the sector besides leading to a hike in CNG and piped cooking gas prices to record levels, sources said. Despite a decision of the Union Cabinet to give 100 per cent gas supply under 'no cut' priority to the city gas distribution (CGD) sector, current supplies have been maintained at March 2021 demand level. Besides, the process of allocating gas on a six-monthly average drawl also is punishing the CGD entities driving growth.
The finance ministry will kick-start the exercise to prepare the Union Budget for financial year 2022-23 (FY23) from October 12, according to an official notification released on Monday. "The pre-Budget meetings as well as the meetings to discuss the revised estimates will start from October 12 and will continue till the second week of November," according to the Budget circular of the Department of Economic Affairs' Budget Division. The Union Budget is expected to be announced on February 1, as has been the practice of the past few years.
A purported video of Union Minister of State for Home Ajay Kumar Mishra in which he is heard telling farmers that he would 'discipline' them in 'two minutes' appears to have angered them even before Sunday's violent clashes in Lakhimpur Kheri.
Dearness Allowance for central government employees has been hiked to 31 per cent of the basic pay from 28 per cent with effect from July 1, 2021, the Finance Ministry said. In an office memorandum, the Department of Expenditure, under the Finance Ministry, said the term 'basic pay' means the pay drawn as per the 7th pay commission matrix and does not include any other type of pay like special pay, etc. "....the Dearness Allowance payable to central government employees shall be enhanced from the existing rate of 28 per cent to 31 per cent of the basic pay with effect from July 1, 2021," said the office memorandum dated October 25.
Deshmukh said on Twitter that it was "highly deplorable" that two senior Union ministers endorsed the drug.
Karnataka health minister Dr K Sudhakar on Sunday claimed that modern Indian women want to stay single, unwilling to give birth even after marriage and desire children by surrogacy.
Sitharaman said the notion that across the board in India, violence against Muslims is happening is a fallacy.
The 'Iconic Week' under the 'Azadi Ka Amrit Mahotsav' will be a grand celebration by the ministry which will showcase the convergence of the values and glories of the freedom struggle of the past with the aspirations and dreams of a young, new and iconic India.
Prime Minister Narendra Modi had informal interactions with US President Joe Biden, UK Prime Minister Rishi Sunak, French President Emmanuel Macron and several other global leaders on Tuesday on the sidelines of the G20 summit in Bali and exchanged views on a range of issues.
The Delhi government and a section of parents pitching for its cancellation amid the pandemic and others favouring holding it at a later period.
Finance ministry sources have countered CAG audit finding of central government wrongly retaining Rs 47,272 crore of GST compensation cess meant for states, saying temporary retention cannot be termed as diversion.
Taking to Twitter, the Jammu and Kashmir Police said, 'JKP was not consulted before taking any decision on discontinuation of Yatra after conducting 1 km yatra by organizers. The rest of yatra continued #peacefully. There was no security lapse at all. We will provide foolproof security (sic).'
Sharad Pawar said it seems the party's decision to wait for the truth to come out after rape allegations were levelled against Munde was right.
While Union Finance Minister Nirmala Sitharaman reiterated her stand that the central government was committed to cooperative federalism, finance ministers of non-BJP ruled states such as Punjab and Kerala said she refused to give a categorical assurance that states will be paid compensation on time.
Punjab Congress chief Navjot Singh Sidhu on Thursday said Prime Minister Narendra Modi was "troubled" with only 15 minutes of wait whereas farmers protested against the farm laws for a year.
Addressing a joint press conference in New Delhi, All India Congress Committee general secretary organisation K C Venugopal and AICC general secretary, communications Jairam Ramesh, said the Bharat Jodo Yatra has so far covered 3,122 km from Gandhi Mandapam in Kanyakumari to the Red Fort in Delhi.
In a statement Bharat Biotech clarified that the vaccine's efficacy can only be determined 14 days after the second dose.
The efforts drew the spontaneous appreciation of Union Finance Minister Nirmala Sitharaman.
Tharoor's remarks came after several BJP leaders accused the Congress of 'Pakistan parasti (worship)' and Union minister Jyoritiraditya Scindia asked if this was part of the 'Haath Se Haath Jodo Abhiyan' with enemies.
The finance ministry on Friday asked state governments to accord priority to employees of banks and insurance companies for Covid-19 vaccination, saying they are exposed to high risks during these difficult times.
Economy to grow by 7.2-7.5 per cent in second half of current fiscal, says FM.
Tharoor's social media post condoling Musharraf's demise evoked a sharp response from the Bharatiya Janata Party which accused the Congress of "Pakistan parasti (worshipping)".
The ministry has removed its earlier recommendation of the use of anti-HIV drug combinations Lopinavir and Ritonavir on a case-to-case basis depending upon the severity of the condition of a patient suffering from coronavirus infection.
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