The finance minister hiked the total defence expenditure from Rs 203,672 crore in FY 2013-2014 to Rs 229,000 crore for FY 2014-2015. Though the increase appears substantial, it is insufficient to undertake the military modernisation necessary to meet the emerging threats, feels Brigadier Gurmeet Kanwal (retd).
Union Finance Minister Pranab Mukherjee said on Tuesday that there are no reliable estimates of black money generated by Indians within and outside the country, but it is estimated at being between Rs 500 billion and Rs 1,400 billion.
Delivering her sixth straight Budget, on Thursday, Finance Minister Nirmala Sitharaman left the taxpayers disappointed by not proposing any changes.
'The private sector believes that some enablers in labour-intensive sectors like apparel, toys, tourism, and media retail, can unlock a lot of jobs.'
Nine days after he took charge of the finance ministry after incumbent P Chidambaram was shifted to the home ministry following the terror attacks in Mumbai, Prime Minister Manmohan Singh has informed Congress President Sonia Gandhi that a full-time Cabinet minister would be needed for the portfolio because he was extremely busy with other works.
Pranab Mukherjee, who has been selected as the UPA's Presidential nominee, will resign on Sunday as the Union finance minister.
Investors want lower securities tax, tax breaks on equity investments.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Structural changes to government finances could be focus of the Union Budget, says Mihir S Sharma.
Land, houses and other infrastructure facilities required for the rehabilitation procedure would be constructed at the earliest, the authorities said.
Prime Minister Manmohan Singh hailed the Union Budget 2009-10, which was presented by Finance Minister Pranab Mukherjee on the floor of the Parliament on Monday.
As citizens who voted the BJP to power, here's an opportunity to share your Budget wishlist.
President Droupadi Murmu hosted a dinner for the outgoing Union council of ministers at Rashtrapati Bhavan.
Finance Minister Arun Jaitley to discuss state-level issues before finalising GST.
Nirmala Sitharaman on Wednesday assumed charge as the Finance and Corporate Affairs Minister for the second consecutive term and is slated to soon present the final Budget for FY '25 that is going to set the tone for the Modi 3.0 government's priorities and direction for Viksit Bharat. Upon her reaching the North Block office, Sitharaman was greeted by Finance Secretary T V Somanathan and other top officials. Minister of State for Finance Pankaj Chaudhary was also present. Chaudhary assumed charge on Tuesday evening.
My recommended recipe is for the next government to sell its entire stake in all the public sector banks immediately upon taking office
Finance Minister Nirmala Sitharaman on Thursday said projects for port connectivity, tourism infrastructure and amenities will be taken up 'on our islands, including Lakshadweep' to address the 'emerging fervour' for domestic tourism in the country.
She interacted with fellow commuters during the 30-km ride, the social media post said.
The conference by the think tank Open Europe and the Fresh Start group of MPs came in the wake of growing demand for the British Parliament to block EU laws.
State Bank of India chairman Dinesh Kumar Khara has pitched for tax relief on interest income, saying it would help banks to garner savings that could be used for funding long-term infra projects. Currently, banks are required to deduct tax when interest income from deposits held in all the bank branches put together is more than Rs 40,000 in a year. With regard to savings accounts, interest earned up to Rs 10,000 is exempt from tax.
The members of the cabinet committees included Union ministers from the Bharatiya Janata Party and its National Democratic Alliance partners like Janata Dal-United, Telugu Desam Party, Janata Dal-Secular, Shiv Sena and Lok Janshakti Party-Ram Vilas.
'If you invest in sovereign gold bond, you are going to get the price rise of gold over an eight year period.' 'You're also going to get that two-and-a-half percent which the Government of India is willing to give you, treating the money that you've invested in the sovereign gold bond as a kind of a FD or a deposit.' 'That kind of return you can never get anywhere else.'
Gold prices tumbled by Rs 3,350 to Rs 72,300 per 10 grams in the local market in New Delhi on Tuesday amid subdued demand by jewellers after the government announced the customs duty cut on the yellow metal and silver to 6 per cent.
'With new projects and recently awarded projects kicking in, capital expenditure should only increase going forward.'
Unlike the previous visit, where TDP MPs accompanied Naidu to meetings, sources termed the current visit as "low profile", with one-on-one meetings with key Union ministers.
If the Budget makes no big announcements on new schemes, projects, or tax giveaways, the government would face a major political dilemma as it may have to reluctantly consider shunning the practice of unveiling pre-election sops to woo voters, notes A K Bhattacharya.
A new political party called the 'Jammu and Kashmir Apni (own) Party' (JKAP) will be launched on Sunday and will be led by former state finance minister Syed Altaf Bukhari, with the primary aim of proving "relief to people who have been facing uncertainty since August 5 last year". This will be the first political activity in Jammu and Kashmir after August 5 last year, when the Centre withdrew the special status of the erstwhile state and bifurcated it into Union territories of Jammu and Kashmir, and Ladakh.
'You are not taking any interest in organisational work and election campaigning ever since the party declared Manish Jaiswal as the candidate from the Hazaribagh Lok Sabha seat. You did not even feel the need to exercise your vote. The party's image has been maligned because of your conduct.'
'We are in a position to start due diligence and private data room access shortly.'
The avoidable stresses and strains in ties helped in one way. It showed for the entire region how a matured India handled diplomatic relations, especially with a smaller and suspicious neighbour, with practised dignity and patience, unruffled by provocations in word, deed and action, observes N Sathiya Moorthy.
She also holds the distinction of delivering the longest budget speech at two hours and forty minutes in 2020.
The Ministry of Corporate Affairs has been engaging with officials from several audit firms over the past two months to streamline the process for the expansion of audit firms in the country, according to sources familiar with the matter. These discussions have involved representatives from notable firms who have independently submitted their recommendations to the ministry.
'There is no immediate threat to the government, and they would prefer the growth agenda.'
Finance Minister expects rate cut by RBI.
'If the period between 1991 and 2014 was about laying the foundations and building the runway, the period from 2014 to 2024 has been about the aircraft taking off.'
The target announced is 13.6 per cent higher than that set last year and 145.4 per cent higher than the revised target for 2013-14.
Union Finance Minister Nirmala Sitharaman, along with her team of bureaucrats, delved into the fine print of the 2024-25 Budget documents in a press conference, detailing the government's road map on bringing down the debt-to-GDP ratio and bold tax measures.
'The adjustments (of tax slabs and standard deduction) will reduce the tax burden for salaried individuals with an income of around Rs 20 lakh by approximately Rs 18,000.' 'For non-salaried individuals with the same income level, the savings will be around Rs 10,000.'
Sir Osborne Smith was the first governor of the Reserve Bank, serving from April 1, 1935, to June 30, 1937.
The Financial Intelligence Unit-India (FIU-India), the national agency responsible for analysing suspicious financial transactions, has received requests from four more offshore crypto exchanges to operate in India again, said a senior government official familiar with the matter. In the beginning of 2024, India had banned nine crypto exchanges - Binance, Kucoin, Huobi, Kraken, Gate.io, Bitstamp, MEXC Global, Bittrex, and Bitfenix - for non-compliance with anti-laundering law in the country.
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