The December meeting of the Reserve Bank of India's (RBI's) six-member Monetary Policy Committee (MPC) will start on Wednesday even as there is no clarity on whether Governor Shaktikanta Das, the chair of the panel, will continue in office after his term ends next week. The outcome of the meeting will be announced on Friday by Das at 10 in the morning.
There were two questions everyone wanted to know the answer to. 1. Did Raghuram Rajan advise the Congress on the much-discussed NYAY scheme, as claimed by Rahul Gandhi? 2. Will Raghuram Rajan become India's next finance minister?
How well do you know India's finance ministers?
The Karnataka high court on Monday stayed investigation against Union finance minister Nirmala Sitharaman and others over alleged irregularities concerning the now scrapped electoral bond scheme.
Of the five years when Manmohan Singh was the finance minister, only in two years did the government manage to keep the average annual inflation rate below 10 per cent. The remaining three years were hit by an average annual inflation rate (based on the wholesale price index) of 13.7 per cent in 1991-92, 10.1 per cent in 1992-93 and 12.6 per cent in 1994-95. Yet, a comparison should be useful.
This will be the first budget presented by the government led by Prime Minister Narendra Modi in its third term amid high anticipation following President Droupadi Murmu's assertion that it will be marked by many historic steps.
Union Finance Minister Nirmala Sitharaman will review the performance of regional rural banks (RRBs) after the Budget session of Parliament, according to two people familiar with the matter. The finance minister will review the performance of RRBs after August 13. The review will include discussions on enhancing the digital capabilities of RRBs, said a senior government official.
Sri Lanka's new Finance Minister Ali Sabry on Tuesday resigned, a day after President Gotabaya Rajapaksa appointed him after sacking his brother Basil Rajapaksa amidst the island nation's worst economic crisis.
'Maharashtra is virtually in a debt trap.'
Maharashtra Deputy Chief Minister and Nationalist Congress Party head Ajit Pawar on Monday said discussions were underway among the Mahayuti partners to finalise a formula for the new government formation in the state.
The massive victory of Bharatiya Janata Party-led Mahayuti in Maharashtra indicates a tactical course correction post the Lok Sabha debacle, with factors like Rashtriya Swayamsevak Sangh's active role in the poll campaign, Ladki Bahin scheme, rise in women voting, and subtle message of Hindutva playing a crucial role.
'Since the NDA took office in 2014, and aggressively since 2019, the Union government seems hell bent on centralising all power and resources, only to fail spectacularly.'
Congress President and Leader of the Opposition in Rajya Sabha Mallikarjun Kharge on Wednesday questioned Union Finance Minister Nirmala Sitharaman over the Union Budget and claimed that the plates of all states except Bihar and Andhra Pradesh were empty in the budget allocation.
The Indian National Developmental Inclusive Alliance (INDIA) parties, led by the Congress, staged a walkout from both Houses of Parliament on Wednesday, in protest against all states except two being 'ignored' in the budget, an allegation termed 'outrageous' by Finance Minister Nirmala Sitharamanm, who said all the states never found a mention in any of the previous budgets, including those presented by the Congress.
While Andhra Pradesh is expected to receive Rs 15,000 crore to Rs 20,000 crore, Bihar is likely to get Rs 5,000 crore to Rs 10,000 crore in FY25.
The MP for Richmond in Yorkshire, married to Murthy's daughter Akshata, first entered the UK Parliament in 2015 and has fast risen up the Conservative Party ranks as a staunch Brexiteer who had back Johnson's strategy to leave the European Union.
The government has notified October 1 as the starting date for direct tax dispute resolution scheme Vivad Se Vishwas 2.0. Vivad Se Vishwas scheme 2.0 was originally announced in Budget 2024-25 presented in July for resolution of certain income tax disputes pending appeal.
The government on Tuesday proposed to launch a mission to give fillip to the domestic output of critical minerals like copper and lithium, their recycling as well as acquisition of such assets abroad. Presenting Union Budget for 2024-25, Finance Minister Nirmala Sitharaman also said the government will launch the auction of the first round of offshore mining blocks.
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.
Vala, known to be close to Modi, had succeeded Rajendrasinh Rana as party president on May 13 and had been holding both the posts since then.\n
'We don't have to go abroad for anything.' 'Anyone who thinks we have a lot to learn from the US needs to have his head examined.' 'We are in a new era.'
The finance minister clarified that indexation benefits offered until April 1, 2001 would be protected. This means older properties, including legacy assets, would benefit.
For promoting women-led development, Finance Minister Nirmala Sitharaman on Tuesday said the Budget carries an allocation of more than Rs 3 lakh crore for schemes benefitting women and girls.
Adani Ports, NTPC, Infosys, Hindustan Unilever, HCL Technologies and Sun Pharma were among the other big gainers. However, Larsen & Toubro, Bajaj Finance, State Bank of India, Axis Bank and HDFC Bank were amonh the major laggards.
An average voter turnout of 20 per cent was recorded in the first four hours of voting in the bypolls to 15 assembly seats spread across Uttar Pradesh, Punjab, Kerala and Uttarakhand on Wednesday amid an incident of stone pelting in a village in UP's Meerapur and allegations of police personnel deterring voters from casting their ballot.
Discuss Pranab Mukherjee's tenure as FM with Senior Associate Editor (Business)Faisal Kidwai.
This is not her first stint in North Block or in leading a major economic ministry. She started Prime Minister Narendra Modi's first term as minister of state for finance, was made the commerce minister, and then became the defence minister.
With 7 per cent economic growth, India is not creating enough jobs as reflected by the number of applicants for vacant posts in some states, Reserve Bank's former governor Raghuram Rajan said and suggested the government needs to focus on promoting labour-intensive industries to generate employment. Rajan further said some Indians, especially those at upper level, are comfortable and have high incomes, but consumption growth from the lower half of the country has still not recovered to pre-pandemic level.
A shortlist using artificial intelligence would be prepared to identify eligible candidates and match them to the suitable internship opportunity. The shortlist would be shared with the companies on Tuesday, October 15.
'Patients under the scheme may ultimately have to go to private hospitals.'
The finance minister presented the Interim Budget for 2004-05 in the Lok Sabha on Tuesday.
Finance Minister Nirmala Sitharaman on Tuesday presented the Budget for 2024-25, her 7th straight presentation surpassing the record of former prime minister Morarji Desai. This is the first Budget during Prime Minister Narendra Modi-led government's third term in office.
The Indian government has come out with a nice name for its tried and tested 220MW pressurised heavy water reactor -- Bharat Small Reactor.
The meeting lasted for about 20 minutes but deliberations of the meeting could not be known immediately.
Finance Minister Nirmala Sitharaman on Tuesday announced nine priorities in the Union Budget 2024-25 for generating ample opportunities in the economy. The nine priorities include productivity, jobs, social justice, urban development, energy security, infrastructure, innovation and reforms.
The government on Tuesday announced a new centrally-sponsored scheme for skilling 20 lakh youth over the next five years. The announcement was made by Finance Minister Nirmala Sitharaman in the Union Budget 2024-25. The minister said that model skilling loan scheme will be revised to facilitate loans up to Rs 7.5 lakh.
The government on Tuesday announced that it will undertake a comprehensive review of the Income Tax Act to make it easy to read. Presenting the Union Budget for 2024-25, Finance Minister Nirmala Sitharaman also said the government will come out with SoP (standard operating procedure) for TDS defaults and simplify and rationalise compounding of such offences.
He could be doling out more funds to woo voters and tax cuts to support industry.
How does the Union Budget 2024-25 impact taxpayers, investors and traders?
Finance Minister Pranab Mukherjee presents his 5th Budget in Parliament.
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