After the April-July fiscal deficit data was released on August 31, several analysts hinted that the government may need to go for cuts in capital expenditure to meet the fiscal deficit target.
He was last month appointed as Secretary in Department of Economic Affairs in place of his batchmate Arvind Mayaram, who was first shifted to Tourism and then to Minority Affairs Ministry.
Finance ministry's drive is meant to meet fiscal deficit target and improve overall efficiency in government spending.
India Ratings and Research on Friday revised down India's FY22 real GDP growth forecast to 10.1 per cent, from earlier projection of 10.4 per cent, citing the second wave of COVID-19 infections and slower pace of vaccination. At a time when large parts of the country are experiencing tremendous pressure on medical infrastructure, the agency said it expects the second wave to start subsiding by mid-May. Earlier this month, the Reserve Bank maintained its 10.5 per cent GDP growth estimate, but Governor Shaktikanta Das has flagged the rising cases as the biggest impediment to recovery.
Bharatiya Janta Party's prime ministerial candidate Narendra Modi's 'Hoonkar Rally' in Patna on October 27 has come under the scanner of the income tax department in Bihar, officials said on Thursday.
Like 2017-18, govt will seek comments from the public at large, including Facebook and Twitter
The scheme is aimed at slashing the salary and pension bills of the three services, which have been increasing rapidly.
The expenditure for the elections to the 40-member Mizoram legislative assembly to be held on November 25 was estimated at Rs 24.30 crore and was the highest ever expenses in the history of the state elections.
It said the searches that were launched on July 22 in nine cities like Bhopal, Indore, Delhi, Ahmedabad, Noida and some others are "continuing and further investigations are in progress."
Despite partial restoration of salaries, pilots across airlines remain dissatisfied, throwing challenges for managers.
Shankar Prajapati, a 57-year-old potter in Dharavi, has given up hope of getting a bigger house for his family. He lives cheek by jowl in a hutment measuring 200 square (sq.) feet (ft) in the nondescript shanty town. "We have surrendered to our fate. We cannot wait forever for better accommodation. "Perhaps we are not meant to dream big," despairs Prajapati. Raju Korde, president, Dharavi Redevelopment Committee, and a local resident, agrees with Prajapati.
Responding to another question, Choubey said that the phase-I of clinical trials have revealed excellent safety of the two candidate vaccines indigenously developed by Bharat Biotech in collaboration with Indian Council of Medical Research and Cadila Healthcare Ltd, and now their immunogenicity testing is in progress. Their phase II clinical trials are ongoing.
"The amended second draft (known as DAP) has since been finalised by the review committee driven by tenets of defence reforms announced as part of the 'Atmanirbhar Bharat Abhiyan' and has been placed in the public domain," the ministry said.
Pakistan in a letter to UN Security Council 1267 Committee has contended that Hafiz Saeed supports a family of four members, as a sole supporter, he is responsible for food, drink and clothes expenses for all family members.
Earlier in the day, President Ram Nath Kovind accepted Murmu's resignation as the Lt Governor of Jammu and Kashmir.
The EC has asked all departments to deploy round-the-clock flying squads, quick-response teams, and high-tech machinery to check money inflow. They are also to examine vehicles passing though check-posts, reports Shrimi Choudhary.
Are we creeping back to controls on corporate decision making? Three moves over the past eight months reinforce this notion, says Kanika Datta.
National artificial intelligence unit stuck for lack of anchor department
G C Murmu rarely speaks in public and when he does, his statements are always in lockstep with the thinking within this government.
The idea is to get the budget passed by Parliament along with Appropriations Bill and the Finance Bill by the end of March as this would ensure implementation of the Budget proposals from April 1.
The Centre on Tuesday permitted 20 states to raise Rs 68,825 crore through open market borrowings to bridge the GST revenue shortfall.
President Ram Nath Kovind on Monday appointed Chandra as 24th CEC on Monday.
NITI Aayog had been asking for Rs 7,500 crore for three years to set up an AI framework.
'I do not want every Tom, Dick and Harry to collect money. Is there any state control over this collection of funds via crowdfunding?'
The BJP government in the state violated the Indian Government Accounting Standard.
If the fiscal deficit for the year can be maintained at Rs 7.04 trillion, the deficit as a percentage of GDP will slip to 3.44 per cent
The Budget process is a massive exercise. The exercise has different stages and each stage kicks off at a different stage of Budget making process.
With hotels and restaurants being barred from levying service charge, waiters, chefs and other workers are worried they will lose out on money and are planning to approach managements to seek a pay raise. They are also apprehensive that tips given by customers out of goodwill will dwindle. Uttarakhand-native Prakash Singh Koranga, 27, a chef who works at an outlet of popular franchise Moti Mahal Deluxe restaurant in south Delhi, said service charge which gets proportionally divided among the staff acts as an "extra income" and "incentive to give our best at the job".
This will be an upfront payment for the vaccine doses that these two companies will supply to the government.
India Inc on Thursday pitched for continuation of reforms while ensuring tax and policy stability in the forthcoming Budget to prop up the economy hit hard by the COVID-19 pandemic. In the virtual pre-Budget consultation held with Finance Minister Nirmala Sitharaman, industry chambers said that government measures will help firmly entrench the nascent signs of recovery being currently seen in private investment. Capital expenditure by the government through enhanced infrastructure spending should in the meantime continue to support growth, CII president TV Narendran said.
Finance Minister Nirmala Sitharaman will present her second Budget a little more than a month from now. Like any other FM, Sitharaman will depend on her team of bureaucrats and advisors to frame and present the Budget.
As part of the ritual, ''halwa'' is prepared in a big ''kadhai'' (large frying pot) and served to the entire staff involved in the Budget making exercise of the ministry. Halwa was served while maintaining COVID protocol with all present in mask and those distributing sweets were wearing gloves.
The meetings with various ministries will go on till December 12, according to an office notice
"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.
Asserting that central government employees may have to work with staggered attendance and variable working hours, the personnel ministry has come out with a draft framework for 'work for home' for the staff post-lockdown. The department of personnel and training may provide options for work from home to the eligible officers/staff for 15 days in a year as a matter of policy, it said.
The Government of India amended the General Financial Rules 2017 to enable imposition of restrictions on bidders from countries which share a land border with India on grounds of defence of India, or matters directly or indirectly related thereto including national security, an official statement said.
Last month, Prime Minister Narendra Modi had said that the economy is showing "green shoots" as the country emerges from the coronavirus lockdown and underscored the importance of being focussed on both life and livelihood.
Tamil Nadu, Kerala, West Bengal, Assam and the Union Territory of neighbouring Puducherry are likely to go to polls in April or May.
Accordingly, West Bengal can borrow Rs 20,362 crore, Maharashtra (Rs 46,182 crore), Uttar Pradesh (Rs 29,108 crore), Karnataka (Rs 27,054 crore), Gujarat (Rs 26,112 crore) and Rajasthan (Rs 16,387 crore).
The idea behind advancing the Budget date is to ensure that the Finance Bill is passed before the start of the financial year, on April 1, so that all central government departments get their full allocations to work with right from the first day
