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.
A bench of justices G S Singhvi and A G Ganguly asked the CBI to apprise it of their findings on March 15.
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.
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 total allocation to the defence sector is 12.9 per cent of the total budget of the government of India for the financial year 2024-25.
Finance ministry takes up a review of the STT regime after a meeting with stock exchange officials.
The Left unions want concrete action and not just 'assurances'.
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.
'My protest was in the interest of the nation.' 'I am just doing my duty as a citizen of this country.'
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.
Congress leader Prithviraj Chavan claimed that Modi held 13 pre-Budget consultation meetings which were attended by top industrialists, but to none of these meetings Sitharaman was invited.
The finance ministry had last year notified a new investment pattern for EPFO.
Billionaire Gautam Adani to two Union Ministers and Maharashtra Deputy Chief Minister Devendra Fadnavis among others on Sunday hailed India crossing $4 trillion mark though there was no official confirmation if the country has achieved the landmark. The finance ministry and the National Statistical Office did not immediately comment on the viral social media post on India's GDP crossing $4 trillion. Highly placed sources said that the viral news was incorrect and India was still shy of that landmark.
The Parliamentary Standing Committee on Finance's meeting comes against the backdrop of CBI probing the Saradha scam in which thousands of crores or rupees of gullible investors were allegedly swindled.
This may leave those not opting for any of the two options offered by the Centre before the GST Council meet scheduled for October 5 in the lurch. It is clear from the present situation that these states will have to wait till June 2022 to get their compensation, subject to the council extending the cess collection period beyond June 30, 2022.
A K Bhattacharya lists three reasons why Finance Minister Arun Jaitley will most likely present a full Budget on February 1, 2019.
The generation of quality jobs and skill development should be the focal point, cutting across ministries and departments, asserts Nivedita Mookerji.
The finance ministry has suggested forming a GST council, headed by the Union finance minister, to address disputes between the Centre and the states in the proposed GST regime.
Finance ministry asks Irda to make this and other changes while clearing these products.
'The BJP's numbers in this government are almost the same as those enjoyed by the Congress under P V Narasimha Rao when the reform process was kicked off in 1991.' 'As before, the only constraints on the prime minister's actions are internal, not external.' 'They come from his own assessment of the political consequences of any action,' points out Mihir S Sharma.
The 8.1 per cent interest rate was recommended by the Central Board of Trustees after its meeting in Guwahati under the chairmanship of Union Labour and Employment Minister Bhupendra Yadav, a labour ministry press statement said.
Six years after the rollout of the biggest indirect tax reform in India, Goods and Services Tax (GST) revenue of Rs 1.5 lakh crore every month has become a new normal and tax officers are focusing on dealing with fraudsters who are adopting newer modus operandi to game the system, causing loss to the exchequer. To apprehend black sheep, who operate as syndicates and create fake entities on the basis of forged documents to claim input tax credit (ITC), tax officers have started using data analytics, artifical intelligence and machine learning aiming to curb evasion, which was over Rs 3 lakh crore since inception of GST. It was over Rs 1 lakh crore in 2022-23. Thinktank Global Trade Research Initiative (GTRI) said the most critical pending GST reform is upgradation of GST Network to prevent fake supplies and fraudulent claims of Input Tax Credit (ITC).
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.
As part of the ritual, ''halwa'' is prepared in a big ''kadhai'' (large frying pot) and served to the entire staff involved in the Budget making exercise of the ministry. Halwa was served while maintaining COVID protocol with all present in mask and those distributing sweets were wearing gloves.
Research and development (R&D) spending by BSE 100 companies has grown steadily, rising from 0.89 per cent of revenue in FY20 to 1.32 per cent in FY24, averaging around 1 per cent over the period in-between, according to data compiled from Bloomberg and company annual reports. Also, these companies more than doubled their R&D spending in absolute terms over these five years: From Rs 25,041 crore to Rs 63,072 crore. While this reflects a prioritisation of innovation, corporate R&D investment remains relatively conservative.
The government must expedite its plan for asset sale and privatisation, both of which hardly got any mention in the Budget speech, points out A K Bhattacharya.
The Union finance ministry is considering an increase in the central excise duty for some of the products that had benefited from the two rounds of reductions announced by the government as part of its fiscal stimulus measures last year.
North Block hasn't made a bureaucrat out of the chief economic advisor yet
Finance Ministry meets market participants, wants feedback.
Concerned over the fallout of the Red Sea crisis and severe shortage of containers against the backdrop of a steep decline in merchandise exports in August, the Union government is pulling out all the stops to find a solution. To begin with, the government has devised a strategy aimed at boosting container supply and supporting exporters.
Value of rupee is an indication of complete failure of the government to achieve the desired results.
With the agitating State Bank of India employees refusing to suspend their nationwide stir, the Delhi high court
The Direct Taxes Code 2009 is now on the back burner. The Union finance ministry has veered round to the view that its bold move to reform direct taxes should be subjected to further scrutiny. Contrary to earlier expectations, therefore, the Direct Taxes Code 2009 will not be presented to Parliament as a Bill along with the Union Budget for 20010-11on February 26.
The Union finance ministry has endorsed the views of Gajendra Haldea, infrastructure advisor to the deputy chairman of the Planning Commission, who had objected to recent changes in bidding norms by the National Highways Authority of India.
The Union finance ministry has temporarily suspended the facility for e-filing of income tax returns as it could not procure a security certification for the Income Tax Department's website in time.
Budget proposal on CKD tax jolts Audi, Harley-Davidson plans.
Car and sports utility vehicle makers say they're taken aback by the Union finance ministry's proposal to bring locally assembled models into the same duty structure as imported units. They say the move would cripple demand, following a substantial rise in vehicle prices.
Industry lobbies have begun pre-budget consultations with the Union finance ministry for 2010-11.
The government is examining various amendments to the insurance law, including a special statute for health insurance, aimed at improving the functioning of domestic companies and increasing their penetration.
'Das is friendly, but he finally does what he does. The quality of engagement is very good.'
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