India's finance ministry on Wednesday ordered small-bore austerity measures including a ban on holding meetings at five star hotels and creation of new posts in federal departments, at a time when government revenue growth has slowed down.
The Finance Commission has substantially increased the allocation of funds to panchayats, but a large part of it is apportioned by state governments.
Jammu and Kashmir has spent Rs 12 crore on the maintenance and operation of Omar Abdullah's aircraft since he became the chief minister in January 2009.
The Covid pandemic has left a question mark on how the central government manages its staff.
Ban on purchase of vehicles, except for defence, continues.
The Finance Ministry said it has followed standard practice and has not violated any Constitutional provision by not showing interest on tax refund as separate expenditure in the Budget.
'I am only asking about his travel bills and expenditure.'
The number of centrally sponsored schemes have increased to 35 in FY22 from 30 in FY21 and central sector schemes have increased to 704 from 685 in the previous year, reports Dilasha Seth.
BCCI vice-president CK Khanna, who is also a senior vice-president of the DDCA, was engaged in an ugly war of words with treasurer Ravinder Manchanda regarding procurement of the association's balance sheet for the last financial year (2015-16).
Taking lessons from that, I would think seamless digital payments is something you have to clearly have a roadmap for, the FM said.
Under Section 80D, you can avail of deduction on payment made towards preventive health check-ups.
Facing an acute shortage of COVID-19 vaccines, the Odisha government on Monday decided to float a global tender for procuring the vaccine to inoculate the states entire population, Chief Secretary S C Mohapatra said.
Jalan Kalrock Consortium, the winning bidder for the grounded Jet Airways, will make a total cash infusion of Rs 1,375 crore in the airline and lenders will take a steep haircut on their admitted claims of over Rs 7,800 crore under the approved resolution plan. The National Company Law Tribunal (NCLT) on June 22, approved the consortium's resolution plan for Jet Airways, which has been undergoing insolvency resolution process since June 2019. The carrier shuttered operations in April 2019.
Tuesday's meeting at the PM's residence, attended by all the five secretaries in the finance ministry besides top officials of other economic ministries and NITI Aayog, cleared a five-year vision plan for the government to make India a $5-trillion economy by 2024.
He will look after the Department of Banking Operations and the Development and Urban Banks Department, which were held by Usha Thorat who retired in November last year.
The confiscation of properties of JuD and FIF comes after Pakistan formally placed them in the list of banned organisations on Tuesday.
The former minister said he was under watch and his every step was closely monitored.
If the apex court decides on a 15-year repayment tenure, it would pose a grave challenge for the debt ridden VIL.
Nobody bothered to articulate the upsides; instead, the four-year tour of duty and denial of life-long pensions got played up.
Job-seekers for government and related opportunities found that their future was at risk, points out Shreekant Sambrani.
Apart from outlining its future plans for the development of Bihar, Chief Minister Nitish Kumar led party also referred to poll promises made by the rival Grand Alliance, including approving 10 lakh jobs, and sought to know from where would they manage Rs 5 lakh crore additional money that will be required for fulfilling their 'lofty' announcements.
The finance minister is ready to present a second financial package. The Centre has ruled out a mega stimulus and will rely on targeted, incremental packages. Industry is clamouring for a bailout, the liquidity upheaval in capital markets is nowhere close to being sorted out, and all budgetary forecasts now stand irrelevant, reports Arup Roychoudhury.
To snatch a state government out of Congress hands is therefore a high-stakes game with national political implications, for it denies the party the essential fuel to run effective election campaigns, notes T N Ninan.
It was not immediately clear when Garg submitted his voluntary retirement scheme application to the government. It was also not known if the government would accept the application. If he hadn't applied for VRS, he would have retired from government service at the end of October 2020 on attaining of 60 years of age. Garg did not answer phone calls seeking his comments.
Bahujan Samaj Party supremo Mayawati spent a staggering Rs 86 crore of government funds to renovate her sprawling Mall Avenue bungalow in Lucknow when she was chief minister of Uttar Pradesh with some windows costing Rs 15 lakh each.
From Covid-19 essentials, such as Vitamin C supplements and thermometers, to bicycles, laptops, and personal weighing scales, demand for certain items galloped during last financial year as the pandemic altered what Indians used on a day-to-day basis. Imports of outdoor sports equipment, handbags for women, and dentures, among others, plummeted. With outdoor activities coming to a halt last year and schools functioning virtually, imports of sports goods witnessed a decline, while inbound shipments of laptops and battery chargers saw a sharp uptick, according to the import data for the financial year 2020-21.
Most of the services of the postal department are incurring losses.
The finance ministry is working on a second relief package for the Indian economy hit hard by the coronavirus outbreak and the 21-day nationwide lockdown imposed to curb the contagion, sources said. Last month, the government announced a Rs 1.70 lakh crore relief package in the form of foodgrains and cash transfers for the poor and vulnerable section of the society to help them deal with the hardships caused by the lockdown. Now, the government is working on a stimulus to be given to hard-hit sectors of the economy after the lockdown is lifted, sources said, adding that an announcement is expected in the next few days depending on the severity of the pandemic.
The high value transactions that will be under the I-T Department scanner include the purchase of property, vehicles, shares and bonds, fixed deposits in banks and post offices, etc.
FinMin has already sought inputs from different central ministries for the Budget speech, which would be the last Budget of the current BJP-led NDA government before the 2019 general polls.
Karnataka Governor Vajubhai Vala, a former Gujarat finance minister, was embroiled in a controversy over expenditure of Rs four crore on renovation of Raj Bhavan and another Rs 1.30 crore on air travel including by special flights during nine months.
Deputy Election Commissioner Umesh Sinha said here that that it has now been established the amount belongs to SBI.
Retired college teachers in Bihar are facing financial difficulties as they have not received their pension for the past four months, reports M I Khan.
The NRA will have representatives of IBPS, SSC and Indian Railways.
There are 1.9 million employees and 650,000 pensioners in Maharashtra.
There have been demands from bankers and insurers to hike the tax exemption limit from Rs 100,000 per annum to encourage household savings.
The CDS will be a four-star general and his salary will be equivalent to that of service chiefs.
Following Anand Sinha's elevation as Reserve Bank of India (RBI) deputy governor, S Karuppasamy has been promoted an executive director (ED) to fill the vacancy. Prior to this, Karuppasamy was the regional director (Kolkata).
State-owned companies have been set stiff targets to increase accountability as they get ready for divestment. Nikunj Ohri explains why meeting them will be challenging.
The Rail Land Development Authority has invited online bids from private players to redevelop the station into an integrated commercial, retail, and hospitality hub.
