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.
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.
As indicated by Union finance minister Pranab Mukherjee, the UPA government has already initiated process to make higher allocation in social sector.
The govt could allow start-ups and e-commerce cos to appropriate initial brand building expenses over several years for accounting benefits
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
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.
Entrepreneurship, education and training will be provided in 2,200 colleges, 300 schools, 500 government ITIs and 50 vocational training centres through massive open online courses.
Sources in the Prime Minister's Office said Dr Manmohan Singh's meeting with the finance ministry team, led by Finance Minister P Chidambaram, has been deliberately fixed for two days after the results of the assembly elections in five states are declared (for Jammu and Kashmir, the counting is on December 28), as the Congress leadership as well as the United Progressive Alliance members would have by then decided on the timing of the Lok Sabha polls
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.
The finance minister has emphasised on the quick disbursal of additional loans to MSMEs, to simplify process, formats and documentation.
The EPFO started investing in ETFs in August last year after the CBT in March cleared proposal to invest in equity markets.
With people reposing faith in the UPA and voting for stability, this is the government's chance to fulfill its promises, ensure growth and development of the country, check runaway prices, and offer succour to the aam aadmi.
Doubts over implementation of a Cabinet-approved strategic sale policy are puzzling.
GST collections in March slipped below the psychological Rs 1-lakh crore mark for the first time in four months to Rs 97,597 crore as the COVID-19 lockdown that shut most businesses compounded tax collections in an already sluggish economy.
The deduction is in case of senior citizen is Rs 60,000.
A scam had come to light in two lesser-known services-- Railway Board Secretariat Service and Railway Board Secretariat Clerical Service -- where promotions were being made allegedly without following due procedures and bypassing Union Cabinet's jurisdiction.
Mr Chidambaram is known for his ability to think up new taxes to collect more revenue, and a tax for the super-rich could be one of those ideas he might introduce in the coming Budget.
Income tax department sends out notices to cryptocurrency investors on suspicion of tax evasion.
Disclosing this, Union Minister for Information and Broadcasting Priyaranjan Dasmunsi said the finance ministry has agreed to release additional Rs 100 crore for this purpose.
Scrapping Plan and non-Plan classifications necessitates the change
Prime Minister Singh has assigned a senior Congress leader to placate the President, who is upset with Finance Minister P Chidambaram, reports Anita Katyal.
The prime minister's decision is reportedly a fallout of the 'hue and cry' created during his Washington visit over the 2G spectrum issue.
The ED on Monday also examined the state-owned bank's executive director K V Brahmaji Rao to understand how the alleged fraud was detected and other banking procedures.
Accounting for the first Advance Estimates for 2017-18, an additional planned borrowing of Rs 200 billion, the fiscal deficit could come in at 3.35 per cent of GDP.
Surplus in March, the last month of a financial year, has helped the government reduce fiscal deficit in the last few years.
According to the figures released on October 31, the deficit till September had inched down to 65.6 per cent of the budget estimate for 2012-13, compared with 65.7 per cent till August.
Like 2017-18, govt will seek comments from the public at large, including Facebook and Twitter
The meeting with economists and financial experts has been called off due to pressing engagements of the finance minister.
Private airport operators in the country on Wednesday said the government should bring aviation turbine fuel under the Goods and Service Tax (GST) Act and increase the duty-free allowances for incoming international passengers in this Budget.
Banks shall not charge fees for transactions settled on IMPS and UPI in excess of rates charged for NEFT for transactions above Rs 1,000, the order said.
The central staff will now get 65 per cent of the basic pay as DA as against 58 per cent since July 1, 2011.
The forthcoming Budget, the last full one before the 2019 Lok Sabha elections, is expected to contain a number of sops and feel-good announcements, especially regarding social sector schemes.
There are serious issues in the economy which need to be addressed
The challenge is to convince productive sectors that a lower general rate would benefit all and remove the prevalent system of favours targeted towards narrow industry and service sector groups.
The spurt in rates, caused by the rally in international oil prices, has led to the oil ministry asking the finance ministry for a cut in excise duty in the Union Budget 2018-19, to be presented in Parliament next week.
The department of post is planning to offer banking services by starting a full-fledged bank, to be named Post Bank of India.
Air India's hopes of slashing 5,000 jobs through a voluntary retirement scheme (VRS) may be too ambitious, say experts and union leaders. The airline would need about Rs 700 crore to put the offer together, and it is yet to secure the finance ministry's approval for this.
Apple sought exemption from mandatory local sourcing of components for its products
Economy to grow by 7.2-7.5 per cent in second half of current fiscal, says FM.
