This is the first hike in about a decade, signaling a recovery.
In 2009, FinMin proposed to move regulators' reserves into public account. These accounts were finally opened in 2013-14. However, no funds have been deposited in it so far.
The Department of Telecom, Department of Industrial Policy and Promotion, Ministry of Home Affairs, Ministry of External Affairs and the Department of Economic Affairs had to give their comments on the proposal, sources said.
The decision will help farmers earn an additional income of Rs 62,635 crore
'With the deaths of Jayalalithaa and Karunanidhi, the BJP and Congress thought that they had a chance.' 'They have conceded that power is with the Dravidian parties.'
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.
The RBI is understood to be dithering since it would want more clarity on the cost of the fiscal policies the new government would undertake before it decides to cut rates, even though it has pencilled in a lower gross domestic product growth rate for this fiscal year.
The finance ministry on Wednesday said the government will borrow Rs 4.34 lakh crore in the second half of the current fiscal to meet its expenditure requirement amid COVID-19 crisis afflicting the country's economy.
Subhash Chandra Garg, the former finance secretary who was shunted out of the finance ministry within three weeks of Modi-2.0 government's first budget last year, on Saturday alleged that new Finance Minister Nirmala Sitharaman got him transferred out.
Three key babus will make room for a new set of officers to carry the baton of Budget programmes.
"7.75 per cent savings bonds scheme notified. Would replace 8 per cent scheme. Will be effective from 10th January. This sequenced notifications and gap of a week was necessary to avoid overlap in cheques realisations," Economic Affairs Secretary S C Garg said in a tweet.
'Several businesses like entertainment, hospitality, travel etc would never be the same again.'
He laid stress on workers' connection with the ground and cited his own example when he was party in-charge for various assembly elections in the past.
"Cash is still quite high in the system. There is also stocking of Rs 2,000 notes in evidence. The expansion of digital payments is taking place all over the world. It is happening in India as well. The pace is much slower," S C Garg, who took VRS from government service after he was abruptly shifted out of the finance ministry, said in a note.
The World Bank's executive board unanimously selected 63-year-old Malpass, who is currently Under Secretary of Treasury for International Affairs, as the bank's 13th President for a five-year term beginning April 9.
About 10,000 km of state highways were declared national highways during the last 10 years.
Parliament has approved a gross borrowing for Rs 7.1 lakh crore for the entire 2019-20 fiscal.
Watal a 1978-batch Andhra Pradesh cadre IAS officer.
Prodipto Ghosh, presently additional secretary to the prime minister, has been appointed additional secretary, department of economic affairs, an official spokesman said on Friday.
"Indian markets (are) well placed to absorb the US Fed rate hike. Gradual approach in future increases augurs well for emerging markets," Economic Affairs Secretary Shaktikanta Das has tweeted.
The senior Congress leader's role has come under the scanner of investigating agencies in the Rs 3,500-crore Aircel-Maxis deal and the INX Media case involving Rs 305 crore.
The regulator said that it is vested within its purview to regulate the bank account for payment systems and the settlement systems are finally posted in the books of account of banks with the RBI to attain settlement finality.
Apart from them, Chidambaram's wife -- Nalini -- has been chargesheeted by the CBI in the Saradha chit-fund scam for allegedly accepting a bribe of Rs 1.4 crore.
India should not be left behind. It should join the seven central banks which are studying feasibility and safeguards necessary to eliminate risks, particularly from hacking, advises former foreign secretary Shyam Saran.
A panel led by the secretaries of the DEA and the DIPP would conduct a quarterly review on the pending proposals.
WPI inflation rose to a 14-month high of 7.52 per cent, while the retail inflation was in double digits at 11.24 per cent in November.
With a spate of clearances, including relief to companies facing delays in development of coal mines, the government is getting its act together.
JV will set up a full-service carrier based out of New Delhi.
Rajiv Kumar will continue as vice-chairman of the body, along with other full-time members V K Saraswat, Ramesh Chand and V K Paul.
The panel is expected to suggest various relief measures to put economy back on track as soon as possible, the sources said.
Sources said much has been done to ease the tax burden of the middle classes in the last five years, and that such a measure affects only a limited segment of people when the focus should be to put money in rural areas. Archis Mohan reports.
A record current account deficit on back of high gold imports too was pressuring the rupee value.
Maturity extension for redeemable preference shares stuck due to lack of directions in FDI rules.
The Foreign Investment Promotion Board (FIPB) on Monday cleared Abu Dhabi-based Etihad Airlines buying 26 per cent stake in Jet Airways for Rs 2,058 crore (Rs 20.58 billion) with some conditions.
The Union Cabinet on Thursday cleared the Rs 2,058 crore (Rs 20.58 billion) stake sale deal between Jet Airways and Abu Dhabi carrier Etihad.
"Under different scenarios, we see the impact of higher crude prices ranging from $25 billion to a maximum of $50 billion on the oil import bill. The increase in the oil import bill will also affect the current account deficit," economic affairs secretary S C Garg said in a conference on Friday.
Chidambaram and his son Karti were named in the chargesheet filed by the Central Bureau of Investigation in the case on July 19.
The proposed bullet train will run between Mumbai and Ahmedabad.
The move comes after CBI gets sanction to prosecute him in Aircel-Maxis case
How the first FDI in aviation was achieved.
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