"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.
The Centre is looking to improve disclosures made by public sector undertakings (PSUs), and has asked such companies to share monthly progress made on capital expenditure targets and corporate social responsibility (CSR) initiatives undertaken by them. New details such as gender-wise reporting of contractual workers, unused land, and profit share in joint venture companies have also been added in the list of disclosures. The Department of Public Enterprises (DPE), which publishes the Public Enterprises Survey and collects information for Memorandums of Understanding (MoUs) signed with PSUs, is looking to integrate data collected from government-owned companies.
The FM said an announcement with regard to the additional steps will be made after consulting Prime Minister Narendra Modi.
Says that the minister has a conflict of interest because his son has been a counsel for Vodafone.
Government looking at cushioning slowdown due to demonetisation with sops and higher outlay for micro, small and medium enterprises, agriculture, and affordable housing.
Merely bringing down the government stake below 51% may not find any taker for the PSBs. The government must bring down its holding to at least 26%, recommends Tamal Bandyopadhyay.
He will be the first bureaucrat to head the central bank in almost five years.
Many life insurance companies are yet to see a sharp spike in the sale of high-value policies as was widely expected in the aftermath of the government's decision to tax income from insurance policies having an aggregate premium above Rs 5 lakh in a year.
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.
There is no clarity yet on how an estimated 10.9 million new jobs would be created every year.
The government has identified nine key focus areas in the AI national programme, including agriculture, education, Indian languages, smart cities, cybersecurity, transportation, and finance.
Employees and workers will meet on November 27 to protest against the recommendations
It is also considering to hike FDI cap for public sector from 20 per cent to 49 per cent
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.
Reducing tax evasion will help government to earn more revenues.
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.
CBDT was considering discontinuing these bonds in the coming Union Budget.
Experts agree with the assessment that the Budget next month would respond to the predictions of deficient monsoon rains with a policy package. According to them, rain-fed areas, which are likely to be affected by a 'below normal' monsoon, could see increase in allocation in terms of higher spending through the public distribution system and the National Rural Employment Guarantee Scheme.
Parrikar submitted his resignation after BJP staked claim to form an alliance government in Goa.
In May 2014, FIIs were net buyers by Rs 20,225 crore (Rs 202.25 billion).
The Finance Ministry's Economic Survey had projected a growth rate of 7-7.75 per cent.
The appointment of new expenditure secretary comes a month-and-a-half ahead of the Budget for 2020-21 to be presented on February 1.
After Raghuram Rajan leaves, the world for the succeeding RBI governors will be distinctly different.
The first such interaction would be in Mumbai on Monday.
Trustees of Retirement fund body EPFO will decide tomorrow on amending the scheme to provide a minimum monthly pension of Rs 1,000, which will immediately benefit about its 28 lakh pensioners.
Modi, after delivering his sixth straight address to the nation on Independence Day from the ramparts of the Red Fort in New Delhi, went into a brainstorming session with Sitharaman and all top officials in her ministry, sources privy to the development said. T
Anand Sharma working tirelessly for extension of tax breaks that expired on March 31, 2010.
The decision to make these changes to the Union Cabinet was apparently taken last week, but the timing of its announcement could not have been more unfortunate, writes Neerja Chowdhury
Two key depts in ministry cold to rationale for one; postal dept says it's more eligible than IDFC or Bandhan, feels 'strong lobby' scuttling its plans.
The scheme calls for banks, refineries and hallmarking centres to work together.
The Income Tax (I-T) department has said Tharoor did not benefit from the Kochi IPL deal. Meanwhile, the finance ministry has said that the I-T department is probing IPL Commissioner Lalit Modi's offshore money and trying to find out if stakeholders are fronts for Modi.
National Mineral Development Corporation (NMDC), the Hyderabad-based public sector undertaking, is the first PSU to come up for divestment during the current financial year.
The finance minister has emphasised on the quick disbursal of additional loans to MSMEs, to simplify process, formats and documentation.
Tamil Nadu Chief Minister J Jayalalithaa on Tuesday met Prime Minister Narendra Modi and did not rule out the support of her party All India Anna Dravida Munnetra Kazhagam to his government in the Rajya Sabha where the ruling National Democratic Alliance is in a minority.
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.
In its letter, finance ministry has pointed to sections 35, 35A and 36 of the Banking Regulation Act, 1949, to highlight the powers and functions of the RBI as regulator
Jaitley, who was the finance minister before a medical procedure led to the charge being temporarily taken away from him, missed presenting the sixth and final Budget of the Narendra Modi government before the general elections. In his absence, the charge of the ministry was given to Railways Minister Piyush Goyal.
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.
The govt could allow start-ups and e-commerce cos to appropriate initial brand building expenses over several years for accounting benefits
As indicated by Union finance minister Pranab Mukherjee, the UPA government has already initiated process to make higher allocation in social sector.
