The Finance Ministry has started preparations for Budget 2014-15 by asking different central ministries and departments to come out with their estimates of receipts as well as expenditure for the next financial year.
'We are in a position to start due diligence and private data room access shortly.'
While Finance Minister Pranab Mukherjee is aiming for a return to the path of fiscal prudence, various departments of the central government appear to be out of sync.
The cost of Rs 52.71 crore included Rs 33.49 crore spent on the construction of the house and Rs 19.22 crore on a camp office for the chief minister, the report said, citing records of the Public Works Department (PWD).
We asked colleagues, present and past, to reflect on a man who has made such a difference to their lives and careers. Here it is then, a rich collection of memories that offer enchanting glimpses of the enigmatic Ajit Balakrishnan.
The income tax department has garnered about Rs 4,600 crore in taxes from 56 lakh updated I-T returns filed by taxpayers in the past two years, Central Board of Direct Taxes (CBDT) chief Nitin Gupta said. In a post budget interview to PTI TV, Gupta also said the I-T department has set up a demand management centre at Mysuru, Karnataka, which is focusing on disputed pending large tax demands of above Rs 1 crore. "We are continuously improving the services and creating litigation free environment. We have come out with a facility for updation of return.
The poll panel said it found Kharge's letter, placed in the public domain in the middle of the ongoing electoral process, 'highly undesirable' and designed to create confusion, misdirection and impediment to the conduct of smooth, free and fair elections.
A peek into the life of a public-sector banker who did well professionally, but paid a price for it, points out Tamal Bandyopadhyay.
Over 65 Union ministers are likely to take oath, going by the visual of the meeting Modi held with his likely council of ministers.
In his letter to Sitharaman, Venugopal said media reports have exposed the alleged "quid-pro-quo between BJP and several firms, which in a strange coincidence donated to it, after the Enforcement Directorate (ED), Income Tax Department (IT) and Central Bureau of Investigation (CBI) and others, raided or searched those enterprises".
Taxpayers are filing their income tax returns (ITRs) early for the Assessment Year 2024-25 (FY25). By April 29, over 592,000 returns were filed, with over 538,000 verified and 367,000 processed. Early filing allows revisions without penalties.
The finance ministry is of the view that all interests -- direct and indirect -- should be taken into account and that there should not be any threshold for calculating total effective foreign shareholding in a company.
Using the Mahabharat reference as a leitmotif, Leader of Opposition in the Lok Sabha Rahul Gandhi on Monday claimed that an atmosphere of fear prevails all around with a group of six trapping the entire country in a 'chakravyuh' he promised would be broken by the INDIA bloc.
The issue of his wife appearing as counsel for the revenue department has caused P Chidambaram a lot of embarrassment. Tell us if he should quit.
The proposal is currently with the finance department and is expected to be placed before the Cabinet in the coming days.
The submissions were made by the CBI in a short written reply while opposing the senior Aam Aadmi Party leader's bail plea, which it said was devoid of any merit and was an attempt to misuse the intricacies of law to thwart the progress of investigation in the case.
'The global situation is not very good.'
In his poll rallies, Modi framed Pitroda's comments in his wider onslaught against the Congress, asserting that they have exposed its hidden agenda and that the party has become so removed from the country's social and family values that it wants to legally rob people of their assets and lifelong savings they want to bequeath to their children.
Pawar, who joined the Shinde government earlier this month, was allocated the same portfolio once again, raising questions as to how the Sena MLAs react.
The IAS officer, who was posted for nearly 15 months in the sports and youth affairs department, headed by Minister Anil Vij, has been transferred over 45 times in his career so far.
He said with a view to releasing a white paper on the state's finances, the cabinet has asked the officials to furnish information on the expenditure made by the previous government from 2014 to December 7, 2023 on all departments in the state government and the purposes for which the expenditure was incurred.
The transfers were effected keeping in mind the demands of ministers, an official said, adding the conflict between them was resulting in inefficiency of work.
Observing that it does not propose to run the administration in Manipur, the apex court said necessary verifications shall be carried out before issuing the Aadhaar cards expeditiously.
The decision by the Reserve Bank of India to introduce a unified regulatory framework on connected lending for all the regulated entities (RE) is expected to reduce the influence of business conglomerates in the Indian lending space, said bankers and experts. "Connected lending pertains to lending to related parties within the same business group. "While the RBI might appear more agreeable to allowing business conglomerates to own banking licenses, it deems it crucial to bolster regulations that would prevent conglomerate-owned banks from gaming the system," said Shivaji Thapliyal, head of research and lead analyst, YES Securities.
'Das is friendly, but he finally does what he does. The quality of engagement is very good.'
The Enforcement Directorate made these claims in an official statement issued by the federal agency following its raids in this case at Chennai, Madurai and Tiruchirapalli on April 9.
Usually, the chair in the Upper House reads out obituary references before members rise as a mark of respect to the memory of the departed.
The highest collection target has been given to Mumbai at Rs 4.39 trillion, followed by Delhi and Bengaluru.
The government will formulate a strategy to make India self-reliant in edible oils by boosting domestic output of oilseeds and launch a comprehensive programme to support dairy farmers, Finance Minister Nirmala Sitharaman announced on Thursday. India imports a large quantity of edible oils to meet the domestic demand. During the 2022-23 marketing year (November-October), the country imported nearly 165 lakh tonnes of cooking oils, valuing a whopping Rs 1.38 lakh crore.
Delhi Finance Minister Atishi on Monday announced the 'Mukhyamantri Mahila Samman Yojana' for the 2024-25 fiscal, under which Rs 1,000 will be given monthly to women aged above 18 from the fiscal year 2024-25.
Banerjee said her microphone was stopped after five minutes, while other chief ministers were allowed to speak for longer durations.
To offer additional support at the low end of the income ranges, the Centre will consider a large-scale jump in exemption rates under the old income-tax regime in the vote on account, or interim Budget, according to a senior official in the know. Those will include an extension of the income tax exemption rates close to Rs 7 lakh and additional measures for women farmers.
The guidelines for strategic disinvestment were issued on Monday itself when Finance Minister Arun Jaitley presented the Union Budget for 2016-17.
'We now look at divestment as an opportunity for maximising the value of public assets, not necessarily as a short-term resource-raising measure.'
The Dubai's government has ordered its departments to cut spending by 15 per cent to save 3.7 billion dirhams (about Rs 4,602 crore), with the aim of reducing the emirate's deficit, its finance department has said.
'My protest was in the interest of the nation.' 'I am just doing my duty as a citizen of this country.'
Eshwarappa, a senior Bharatiya Janata Party leader from Shivamogga and who had been a long time associate of Yediyurappa, met Governor Vajubhai Vala and submitted a five-page letter on "serious lapses and authoritarian way of running the administration" by the chief minister.
'The BJP's numbers in this government are almost the same as those enjoyed by the Congress under P V Narasimha Rao when the reform process was kicked off in 1991.' 'As before, the only constraints on the prime minister's actions are internal, not external.' 'They come from his own assessment of the political consequences of any action,' points out Mihir S Sharma.
A decision to this effect has been taken after Arun Ramanathan retired as finance secretary on Thursday. Currently, Chawla is the senior-most official in the finance ministry. In addition, G C Chaturvedi, currently serving as additional secretary in the ministry of health and family welfare, has been appointed as additional secretary in-charge of the financial services department.
