The IMF expressed its opposition to any move that compromises the independence of central banks anywhere in the world.
To adopt the January-December financial year cycle, the government needs to shrink the current financial year to three quarters and present the new annual budget to the state legislative assembly for its passage in December.
Seeking to enhance green mobility, the Union Cabinet on Wednesday approved the 'PM-eBus Sewa' scheme under which 10,000 electric buses will be provided to 169 cities under the public-private partnership (PPP) model.
Jaitley is now a minister without portfolio in the Narendra Modi government.
Kejriwal, who is also the national convener of the AAP, won the confidence motion with the support of 54 MLAs and said no legislator of his party defected.
Officials in North Block are wondering if a new tax will be mooted again and whether that will pertain to foreign investments.
The Budget chose to stick to an ambitious disinvestment programme for 2016-17.
If Tamil Nadu voters preferred the DMK combine, it owed to the Modi-Annamalai combo's ideological battle which often crossed the line of political decency and also challenged 'Tamil pride', argues N Sathiya Moorthy.
Capital expenditure (capex) by 54 large central public sector enterprises (CPSEs) and five departmental arms with an annual capex target of Rs 100 crore and above has reached around 42.5 per cent of their annual target of about Rs 7.33 trillion in this financial year so far, a senior official from the Ministry of Finance told Business Standard. "The Centre is pushing the big public undertakings in the infrastructure and refinery sector to achieve 90 per cent of their target by the end of the third quarter," he said. The capex by this group of CPSEs stands at around Rs 3.1 trillion in the April-August period so far.
The Government of India has decided to launch a massive rural public works scheme, 'Garib Kalyan Rojgar Abhiyaan', to "empower and provide livelihood opportunities to the returnee migrant workers and rural citizens". Prime Minister Narendra Modi will launch this scheme on June 20 through video conference in the presence of Bihar Chief Minister Nitish Kumar and Deputy Chief Minister Sushil Kumar Modi.
India can become the number one automotive manufacturing hub in the world within five years, but auto companies need to enhance safety features to reduce deaths due to road accidents, Union Minister Nitin Gadkari said on Thursday. In his inaugural address at the Auto Expo 2023 here, the minister for road transport and highways asserted that the government's target is to reduce these accidents by 50 per cent before the end of 2024 while asking the auto industry to take suo moto action for road safety as the government doesn't want to make anything mandatory. Gadkari's sentiments were also echoed by Minister of Heavy Industries Mahendra Nath Pandey, who lamented that while India has only 1 per cent of the total overall vehicles, the country accounts for 11 per cent of the total global deaths due to road accidents.
In a surprise development on July 2, the Sharad Pawar-led NCP split as his nephew Ajit Pawar and almost three dozen MLAs joined the ruling Shiv Sena-BJP alliance. Ajit Pawar and eight other NCP leaders were sworn in as ministers.
Shalini Gupta, a freelance writer from Pudicherry, tells Rediff.com's A Ganesh Nadar what she would like to see in Finance Minister Nirmala Sitharaman's Budget.
Sources said there was no need 'immediately' to look into legal aspects or consider anything else (such as the possibility of political interests over the dismissal and a counter-strategy to frustrate it), as the dismissal was now on hold.
Strengthening the portfolios of the home minister and the finance minister is a message that should not be missed, points out A K Bhattacharya.
The ICICI board is looking to the retired petroleum secretary to provide 'maturity and sagacity'.
Refusing to link his seeking voluntary retirement, a year before his superannuation, to his transfer to the relatively low profile power ministry, he said that he had conveyed his decision to the Prime Minister's Office on July 18.
Reduce the government stake in public sector banks to 33 per cent, recommends A K Bhattacharya
Dissenting states including Chhattisgarh and Kerala, have made it clear they are in no mood to relent. They want the Centre to borrow the entire Rs 2.35 trillion this fiscal citing bleak fiscal position.
'The plan is to secure nod of the Union Cabinet and other relevant regulatory approvals within the next three months,' a senior finance ministry official said, requesting anonymity.
Rather than talking endlessly about lost and marginal opportunities, India's climate envoys need to start thinking bigger, says Mihir S Sharma.
Chaudhary Charan Singh, who on Friday was conferred with India's highest civilian award Bharat Ratna, is popularly known as a champion of farmers.
Last year, Sitharaman had ditched the long-standing tradition of carrying budget documents in a leather briefcase and went swadeshi with a 'bahi-khata'.
Gopal Krishna Pillai, senior Indian Administrative Service officer of the 1972 batch, is going to be the next Union Home Secretary. Pillai, who is serving as the Union Commerce Secretary, will take over from current Union Home Secretary Madhukar Gupta in mid-June. Gupta is slated to be appointed as the governor of Tripura.
SBI-led consortium of 17 banks had a total exposure of about Rs 6,500 cr to Kingfisher Airlines.
With the fall of Congress, Chidambaram's political graph too started moving southwards.
Parliament proceedings were adjourned for the day on Monday following protests by the opposition which has been demanding a statement from Prime Minister Narendra Modi in the House on the Manipur issue. In the Rajya Sabha, the opposition kept insisting on a discussion under Rule 267 of the House.
Chairing a meeting to review the security situation in LWE-affected states, Shah said the Modi government has adopted a policy of zero tolerance against left wing extremism since 2014.
Later, Sitharaman's office clarified that the FM had already met the industrialists, experts, and economists during the pre-budget consultations.
When Nirmala Sitharaman announced her new privatisation policy, there were serious doubts if the move had the BJP's full political backing. All those doubts were dispelled when her initiatives were endorsed by Modi in Parliament, observes A K Bhattacharya.
The direction to the labour ministry was given after the prime minister met a workers' delegation led by G Sanjeeva Reddy of Indian National Trade Union Congress.
Sitharaman, who became the first full-time woman defence minister in the first tenure of the Bharatiya Janata Party-led National Democratic Alliance government -- will also head the Corporate Affairs ministry in the new cabinet.
Gujarat will host the next round of G20 meetings from March 27 to April 4, during which three conclaves will be held in the state on a range of issues, where delegates from different countries will converge for participation, an official said.
Hyderabad has contributed only Rs 20,022 crore out of Andhra Pradesh's total revenue of Rs 1,27,866 crore. This information was part of a note circulated by the Union finance ministry to the Group of Ministers looking into issues leading up to the bifurcation of the state.
Anticipating a sudden and huge crowd in bank branches following the announcement of various measures by the government on Friday, the AIBEA said since the number of employees in bank branches are very few, the crowds can pose a big risk for the bank staff as well as for the customers who might be visiting in large numbers.
While Finance Minister Pranab Mukherjee is aiming for a return to the path of fiscal prudence, various departments of the central government appear to be out of sync.
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