Prime Minister Narendra Modi on Thursday asked his Council of Ministers to make extra efforts for effective implementation of public welfare schemes at the ground level and work on new ideas in their ministries ahead of the budget.
Congress leader Rahul Gandhi on Tuesday made a scathing attack on the Narendra Modi government, accusing it of working only for the sake of capitalists.
The PM didn't hold back and launched a scathing attack against the Congress. Here are the highlights from his speech.
Chaos in Parliament threw a spanner in the government's efforts to revive the economy and kick-start reforms.
The Congress on Wednesday dismissed as "totally baseless" and "mischievous" reports that it had offered a deal to government under which it was ready to support passage of GST bill in Parliament if it axed External Affairs Minister Sushma Swaraj and Rajasthan Chief Minister Vasundhara Raje in the wake of the Lalitgate controversy.
The BSE Mid-Cap index was currently up 0.81%.
A total of 16 bills, including the GST Bill, Lokpal (Amendment) Bill, Factories (Amendment) Bill and the Anti-Hijacking Bill are pending in Parliament -- five in Lok Sabha and 11 in the Rajya Sabha.
Hasmukh Adhia to present revenue dept's performance over past year & plan for current financial year
Jaitley says govt is open to scrapping 1% additional tax on GST
The final rate will be worked out by the GST Council, Finance Minister Arun Jaitley said on Wednesday.
"GST should not become a 'grossly scary tax'. It should be a 'good and simple tax'," Surjewala said.
Sushil Kumar Modi, who ceased to be Bihar Finance Minister following the JD (U)-BJP split, on Monday resigned as Chairman of the Empowered Committee of State Finance Ministers looking into the implementation of the proposed new indirect tax regime - Goods and Services Tax (GST).
Two years of the NDA government have instituted significant reforms, including the passing of the GST bill in India but "cultural issues and saffronisation" have resulted in a slow incremental change instead of big bang reforms, according to a top American think-tank.
The FM has been making efforts to make the taxation laws simpler.
"After the meeting which took place in Srinagar last week, it is safe to say that GST will be levied across the country starting July 1," Gangwar told ANI.
While the formation of a holding company will not outright privatise State-owned banks, officials believe it will help the Centre deflect criticism arising out of the latest banking scams.
With a growing penetration of the Internet, which reaches to rural areas of the country, the retailers would be able to deepen their market
Govt is mulling a special session to amend the constitution to enable a national goods and services tax. Kavita Chowdhury answers a few FAQs on the complexities
Even if the GST rate is 18-20 per cent, there would be no average impact on inflation.
Manufacturing taxes, VAT will come down, assures Jaitley
'The low tax to GDP ratio of the country will go up, helping the government to adhere to fiscal discipline and keep inflation in check.'
Rupee was impacted by renewed dollar demand from banks and importers amid sharp falls in equity market
A figure above 50 indicates that the sector is expanding, while a figure below that level means contraction.
Dealers attributed the rupee's fall to increased demand for the US currency from importers.
Naidu was an Akhil Bharatiya Vidyarthi Parishad activist during the Emergency and was arrested and jailed.
Sensex lacklustre, bluechips in focus.
Ruptures in the opposition unity emerged barely a week after 17 parties joined hands to put up a joint candidate against the ruling National Democratic Alliance nominee for the July 17 presidential election.
Some also demanded empowering of local bodies.
India's existing web of federal and state sales taxes is levied at different stages of the supply chain and often results in double taxation, while forcing trucks to spend nearly a quarter of their road time in border checks or other inspections.
Jaitley has pledged to narrow the deficit to 3.9 per cent of GDP in this fiscal year from 4.0 per cent in 2014/15.
The BJP's oldest ally Shiv Sena remained silent on the performance of the National Democratic Alliance regime.
Venkaiah Naidu told the members that provocative statements are being used by anti-BJP forces to deflect the attention from Prime Minister Narendra Modi's development agenda.
Investor wealth shrunk due to markets crashing on Wednesday.
Speaking at the all-party meeting called by the government, Modi said, "People have great expectations and that is why Parliament should function and be productive."
Introduction of GST would make Indian products competitive in the domestic and international markets.
Any residual amount left in the Compensation Fund after five year compensation period shall be shared equally between the Centre and the states.
GST has been hanging fire with the Opposition Congress yet to come on board
Prime Minister Narendra Modi was elected last year on hopes he would revive a languishing economy.
Government on Thursday claimed that it had Congress "cornered" on the penultimate day of the Monsoon Session of the Parliament.
Opposition politicians on Wednesday stalled a last minute attempt by Prime Minister Narendra Modi's government to pass the Goods and Service Tax bill.
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