Under the RFQ, companies had to initially participate in technical bids based on certain minimum criteria such as net worth, experience and so on. Only five or six companies that scored the highest on this basis were then permitted to put in financial bids.
Pakistan's Deputy Prime Minister and Foreign Minister Ishaq Dar sustained a hairline fracture in his shoulder after a fall during a reception for his Egyptian counterpart. Despite the injury, he continued with scheduled meetings throughout the day.
'It's a changing world and the opening up doesn't mean that concerns with regards to security have gone away.'
Amidst global energy market volatility driven by the West Asia crisis, Russia has proposed increasing its crude oil and natural gas supplies to India, strengthening bilateral energy ties and aiming for USD 100 billion in annual trade by 2030.
The government hopes the latest action will lead to banks also lowering the cost of borrowing for corporate and individual borrowers.
Finance Minister Nirmala Sitharaman stated that it is premature to comment on the tariff changes announced by the United States, adding that the commerce ministry is currently reviewing the situation.
The finance ministry is learnt to have raised a serious objection to the proposed relaxation in the foreign direct investment norms in restricted sectors such as telecom and insurance.According to sources in the government, in a meeting of a group of ministers on Tuesday, the finance ministry representatives argued that the proposed relaxation would effectively remove the current limits in the respective sectors. Sources said senior members of the GoM also objected.
People giving me unasked for advice of discipline and restraint don't realise that if I disregard discipline there would be a bloodbath.
'This year's detection of frauds and probable recovery will be mainly driven by several compliance measures put in place, and amendments made to the GST regime to plug revenue leakages particularly in new-edge sectors.'
India's privatisation push, once projected as a cornerstone of economic reform, has suffered another setback, with the Centre set to call off the IDBI Bank stake sale, highlighting the political and structural constraints shaping the country's disinvestment policy, experts say.
Prime Minister Narendra Modi convened the Cabinet Committee on Security to address the impact of the West Asia conflict on Indian citizens, focusing on safeguarding them from the conflict's effects and ensuring the smooth flow of essential supplies.
Three key babus will make room for a new set of officers to carry the baton of Budget programmes.
'This Budget has a one-year agenda, which you can call the sprint, and the marathon is towards Viksit Bharat.'
The Indian government has imposed penalties totalling nearly 20 crore on various companies for non-compliance with Corporate Social Responsibility (CSR) norms over the past three financial years, as revealed in the Rajya Sabha.
With the Iran war escalating sharply and crisis deepening in the global energy market, India on Monday unveiled a coordinated plan to support exporters and shippers caught in the fallout.
The National Stock Exchange, Bombay Stock Exchange, MCX Stock Exchange and United Stock Exchange have been invited for the August 6 meet.
The government has sharply reduced excise duty on petrol to 3 and diesel to zero, offering major relief to consumers. Here's how the price cut will impact fuel rates and inflation.
The row over the 2G note on Tuesday resonated in the Joint Parliamentary Committee meeting with members alleging that facts were being suppressed, prompting the Committee to summon two top finance ministry officials besides demanding affidavits from government that all relevant documents have been given.
The review will help all the banks find if there is any loophole.
Fino Payments Bank asserts its compliance with GST regulations following the arrest of its MD and CEO, Rishi Gupta, by the Directorate General of GST Intelligence (DGGI). The bank clarifies that the investigation pertains to program managers associated with multiple banks and not the bank's own GST compliance.
Falling rupee, sluggish stock market is set to make his task more challenging.
The MPC states that the 4 external members will have a tenure of four years each.
Delhi Police inform court that a BMW driver involved in a fatal accident last September is charged with culpable homicide for allegedly delaying medical assistance to the victim.
Following the notification allowing 100 per cent foreign direct investment (FDI) in the insurance sector, the Finance Ministry has revised norms to remove the requirement that a majority of directors and key management personnel in an insurance company with foreign investment be Indian residents.
Capex, infrastructure development, and prudent fiscal management are the key focus areas in the Budget, says Nilesh Shah.
The instructions cite service rules that bar any government servant from making any adverse criticism of any policy or action of the government.
For decades, several key government offices and ministries functioned from fragmented and ageing infrastructure spread across multiple locations in the Central Vista area.
India's consumer price index (CPI)-based inflation could ease in the coming months thanks to the arrival of kharif crops, lower international commodity prices, and a pass through of lower input costs to consumers, the finance ministry said in its Monthly Economic Review (MER) for October, which was released on Thursday. The MER, however, warned that the global macroeconomic situation remained precarious and a recession in many advanced economies would impact India's exports. "Easing international commodity prices and new Kharif arrival are set to dampen inflationary pressures in the coming months.
Set to file nomination papers for the Presidential poll, a sentimental Pranab Mukherjee on Tuesday resigned as finance minister to "embark on a new journey", leaving behind his four-decade stint as a political activist.
The roll-out of 3G or third-generation mobile telephony services, scheduled for this year-end, may be delayed after the Ministry of Finance strongly criticised the Department of Telecommunications for announcing 3G guidelines without consulting it. In a communication with the DoT earlier this week, the finance ministry said the move was inappropriate and contrary to a 2003 cabinet decision.
Delhi Police have detained a 41-year-old woman, Sonia, under the Prevention of Illicit Traffic in Narcotic Drugs and Psychotropic Substances (PIT-NDPS) Act for alleged drug trafficking.
The project is aimed at enabling faster movement of security forces and military equipment during exigencies, while also improving connectivity to Arunachal Pradesh, Manipur and other north eastern states.
Sitharaman continues with the tradition she set in 2019, carrying the budget speech in a 'bahi-khata', which she used after dropping the briefcase tradition.
Customs regimes can lead to labyrinthine legal disputes. Budget 2026 must recognise that an excessively defensive Customs posture can itself become a trade barrier, point out Mukesh Butani and Shankey Agrawal.
Nirmala Sitharaman moved into her Kartavya Bhavan office on October 2, in time to get the work on the Budget 2026-2027 going.
Finance Minister Nirmala Sitharaman on Sunday proposed a six-month foreign asset disclosure scheme for small taxpayers like students, tech professionals and relocated NRIs as she presented the Union Budget 2026-27.
On Agri Stack, Expenditure Secy V Vualnam says it's progressing well; using IT, farmers will be able to choose exact fertiliser quantities needed, reducing crowding at fertiliser outlets.
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