Rising study-abroad costs are prompting families to use education loans strategically while preserving savings, liquidity and long-term financial stability, says Yogesh Rawat
The Confederation of Indian Industry (CII) has proposed a 20-point policy agenda to the finance ministry, including a conflict-linked emergency credit line guarantee scheme and tax rationalisation on energy inputs, to support MSMEs, exporters, and energy-intensive industries affected by the ongoing West Asia war.
Experts highlight India's significant market potential for assistive technologies, estimated at Rs 75,000-95,000 crore by 2030. They advocate for a National Assistive Technology Policy to address current gaps in access and service delivery, fostering inclusion, independence, and economic participation for persons with disabilities and the elderly.
The power ministry had approached the department of disinvestment in August 2007 for approval for NTPC's FPO, which could fetch the company nearly Rs 6,000 crore to part-finance its expansion programme.
Global oil prices fell on Thursday to their lowest levels since before the outbreak of the Iran conflict, offering a significant economic tailwind for India, the world's third-largest crude importer, by easing inflation risks, reducing the import bill and improving the government's fiscal position.
Finance Minister Nirmala Sitharaman convened a high-level meeting with bank heads to assess cybersecurity risks linked to advanced AI models, following concerns over Anthropic's Claude Mythos system and its potential impact on financial data security.
A parliamentary committee has voiced concerns over ongoing examination irregularities despite government measures, recommending the Ministry of Education publish a time-bound roadmap for reforms. The panel also urged a nationwide blacklist of firms involved in exam processes and suggested utilising the National Testing Agency's financial surplus to enhance its capabilities.
Chinese Foreign Minister Wang Yi met with National Security Advisor Ajit Doval in New Delhi, stressing the importance of respecting each other's "core interests" and implementing leaders' consensus for stable bilateral relations. Wang highlighted that India and China should view each other as partners, not rivals, and properly handle sensitive issues like the border dispute to foster cooperation and accelerate the modernisation of the Global South.
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.
Work has commenced on restoring the North and South Blocks to their original design, paving the way for the Yuge Yugeen Bharat National Museum project, with a target completion date for the first phase set for 2028.
The finance ministry has asked all ministries and departments not to initiate any new scheme in the current financial year and said that there is a need to use resources prudently in the wake of the COVID-19 crisis. However, funds for schemes under the Pradhan Mantri Garib Kalyan Package, the Aatmanirbhar Bharat Abhiyan package and any other special package or announcement would be allocated, according to an office memorandum by the department of expenditure, which comes under the finance ministry.
If we really want to curb the further depreciation of the rupee and make the rupee appreciate, we want to come out of the mindset that the exchange rate is merely a number, bring policy corrections to help reduce the outflow of foreign exchange by imposing suitable tariffs to discourage imports and bring self reliance, discipline FPIs, and correcting rules governing royalty outflows, suggests Dr Ashwani Mahajan, National Co-Convenor, Swadeshi Jagaran Manch.
India appears poised to sustain its growth in a more durable way than before with the economy carrying the momentum from FY23 into the current fiscal year, the Annual Economic Review for 2022-23 released by the finance ministry on Thursday said. However, the report cautioned that escalation of geopolitical stress, enhanced volatility in global financial systems, sharp price correction in global stock markets, a high magnitude of El-Nino impact, and modest trade activity and FDI inflows, are factors that could constrain the pace of growth. "Should these developments deepen and dampen growth in the subsequent quarters, the external sector may challenge India's growth outlook for FY24," the finance ministry said.
After reviewing the preparations at the headquarters of the National Testing Agency (NTA), Pradhan said meetings have been held under the Cabinet secretary, and all the states have been asked to cooperate.
The distance between North Block and Mint Road has been growing for quite some time. The latest evidence of tension is the finance ministry's decision to introduce a clause in the Banking Amendment Bill allowing banks to trade in commodity futures, despite the central bank's reservations on the issue.
Reserve Bank has expressed dissent at the finance ministry panel's suggestion on allowing foreign institutional investors to issue Participatory Notes and allowing them to take exposure in India's debt instruments.
The Indian government has imposed a new windfall gains tax of Rs 3 per litre on petrol exports, while simultaneously reducing the levy on diesel to Rs 16.5 per litre and aviation turbine fuel (ATF) to Rs 16 per litre, effective May 16.
Diktat to four general insurance companies says 'avoid competition' in any corporate or group account
A quick assessment of the ground reality will tell you that it is a reflection of the finance ministry's mistaken faith in factors beyond its control.
The telecom ministry has referred the matter of number of 3G spectrum slots in each circle to the Finance Ministry.
While Arun Jaitley remains part of the decision making process, Piyush Goyal, who was given additional charge on May 14, attends cabinet meetings and takes the day-to-day decisions.
We know what Mrs Sitharaman and Mr Chaudhary (who may soon be moving out of the finance ministry to head to Lucknow to take charge as president of the Bharatiya Janata Party's Uttar Pradesh unit) look like, but who are the others in these photographs?
PMO joint secretary Subrahmanyam to play a key ro#8804 full-time finance minister likely before October
Finance Minister Nirmala Sitharaman met with bank heads to discuss the risks associated with Artificial Intelligence (AI) following global concerns about Anthropic's Mythos model and its potential threat to financial systems' data security.
State-owned enterprises in India are projected to significantly increase their overseas borrowings, potentially exceeding $15 billion in FY27, driven by the Reserve Bank of India's new concessional forex swap facility which offers a 3 per cent funding-cost advantage.
Chief Economic Advisor V Anantha Nageswaran stated that India's economy is projected to return to a 7 per cent-plus growth trajectory by 2027-28 (FY28), or sooner if external conditions improve, despite near-term challenges from the West Asia crisis.
Following through announcements with enforcement of measures is key, as a run through recent Indian economic history shows, points out A K Bhattacharya.
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.
Businesses may eventually have to file returns largely based on invoices uploaded by suppliers, with limited scope for manual changes.
The appointment, expected shortly, will come in the backdrop of tax expert Parthasarathy Shome recently resigning from the post of adviser to Finance Minister P Chidambaram.
'OMCs are incurring losses of Rs 1,000 crore per day due to the West Asia crisis.'
As finance ministry officials remained glued to news flashes on the LCD screens in their rooms, others were constantly monitoring news on the web. The support staff got its share of the news feed by keeping a close watch on politicians visiting North Block, reports Vrishti Beniwal
'...A new challenge has emerged in the form of Mythos.'
British armed forces, including Royal Marine Commandos, intercepted the Russian shadow fleet oil tanker SMYRTOS in the English Channel, marking the UK's first such operation. The action aims to disrupt Russia's funding for its war in Ukraine, with the UK government highlighting the shadow fleet's role in sustaining Moscow's military efforts.
The newly appointed Union Finance Minister Pranab Mukherjee took charge of his new office in north block, returning to it after a gap of 24 years. The Finance Ministry office, which has been sealed off to outsiders and particularly prying journalists with the vote-on-account preparations in full swing, was on Thursday opened up at 4 p.m. when the media was invited in to cover the taking over ceremony.
The global financial crisis has empowered fiscal conservatives in India.
