Former CAG Rajiv Mehrishi says Centre has held back a report he submitted to the President, to end what he called "a nightmare of accounts that militates against good governance".
As indicated by Union finance minister Pranab Mukherjee, the UPA government has already initiated process to make higher allocation in social sector.
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 deduction is in case of senior citizen is Rs 60,000.
Doubts over implementation of a Cabinet-approved strategic sale policy are puzzling.
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.
Scrapping Plan and non-Plan classifications necessitates the change
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.
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 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.
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.
Economy to grow by 7.2-7.5 per cent in second half of current fiscal, says FM.
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
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.
The ED carried out searches against two former auditor firms of IL&FS -- BSR and Associates and Deloitte Haskins and Sells -- on Wednesday in connection with its money-laundering probe into alleged financial irregularities at the infrastructure development and finance company, official sources said. The premises linked to the two auditors in Mumbai were searched under the provisions of the Prevention of Money Laundering Act (PMLA), they added. The action came a week after the Supreme Court set aside a Bombay High Court verdict that quashed an SFIO probe against the two companies, both former auditors of IL&FS Financial Services, paving the way for action against them under the Companies Act and allowing the National Company Law Tribunal (NCLT) to take forward its enquiry against them.
The meeting with economists and financial experts has been called off due to pressing engagements of the finance minister.
The finance ministry on Wednesday allowed all private sector banks to participate in government-related business, like collection of taxes. pension payments and small savings schemes. At the moment, only few large private sector are allowed to conduct government-related business.
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.
Surplus in March, the last month of a financial year, has helped the government reduce fiscal deficit in the last few years.
The economic reforms started by Singh as the finance minister in 1991 gave a new direction to India as it ushered in a liberal economy, Gadkari said.
'They have started becoming an important player, but not at the same level as they were in the earlier part of the decade.'
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.
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 infrastructure spending target for 2020-25 was revised because of additional and amended data provided by central ministries, state governments since the release of the summary NIP Report in December 2019 when it was pegged at Rs 100 trillion.
Finance Minister Arun Jaitley said the excise duty cut would have an impact of Rs 10,500 crore on central government's tax revenues.
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.
Foreign ministers of G20 major economies will meet in the national capital on March 1 and 2 to deliberate on pressing global challenges amid escalating confrontation between Russia and the West over the Ukraine conflict that entered the second year this week.
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.
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 action came after investigations carried out by an inter-ministerial committee formed by the home ministry in 2020.
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.
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 central staff will now get 65 per cent of the basic pay as DA as against 58 per cent since July 1, 2011.
Apple sought exemption from mandatory local sourcing of components for its products
G C Murmu rarely speaks in public and when he does, his statements are always in lockstep with the thinking within this government.
The NCLT said the new board must hold its meeting by October 8 and come out with a road map before the next hearing on October 31
At least nine separatist organisations supporting terror groups have their bases in Canada and despite multiple deportation requests Ottawa has taken no action against those involved in heinous crimes, including the killing of popular Punjabi singer Sidhu Moosewala, officials in New Delhi said on Tuesday.
'An area of land has already been earmarked for their protected habitation.' 'There are also steps being taken to take care of the coral zone and mangroves.'
The aim of the exercise was to further simplify GST forms and make the filing process more user-friendly, the finance ministry said in a tweet, reports Dilasha Seth.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances