Planning Commission, on Thursday, expressed reservations on Kelkar Committee proposal to bring processed foods under excise duty net saying it will badly affect growth in the sector.
The Centre will contain its fiscal deficit to 4.8 per cent of GDP as it expects to mop up Rs 13,500 crore (Rs 135 billion) from the ongoing public offering of government equity in six companies, a senior finance ministry official said on Monday.
The finance ministry and Reserve Bank of India plan to put in place a Tax Information Network proposed by the Kelkar Task Force, in a bid to improve tax administration and check evasion.
India, hit by a devastating drought last year that hurt economic growth, is expected to experience a below normal monsoon this year.
The old India was economically fragmented. New India will create one tax, one market, one nation, said Jaitley.
Bharatiya Janata Party on Tuesday rejected the Kelkar panel proposal for lifting tax sops on savings, housing loans and agricultural income saying it was against the interest of vulnerable sections of society.
'A scatterbrained film that fails to encash Arshad Warsi and Naseeruddin Shah's screen presence,' says Prasanna D Zore.
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
A look at the awards night.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
'Mr Modi would compliment a Nobel Prize winner, but members of his party or the government would not be restrained from either making unfair comments or criticising him for having offered advice to an Opposition political party,' says A K Bhattacharya.
The hits and misses of the week.
'The much-awaited decision could be a welcome change at a time when the Indian armed forces are crying for self-reliance and the defence industry is looking forward to more indigenisation,' notes Nitin A Gokhale.
Sangh affiliates believe the government's apparent anti-poor message led to their loss
The south awards night was a GRAND affair!
'The procurement cycle still consumes too much time; little has changed.'
The top posts on social media from your favourite Bollywood celebrities.
The hits and misses of the week.
Will Arundhati Bhattacharya be the RBI's first woman governor? Or will Urjit Patel succeed Raghuram Rajanas RBI governor when his term ends on September 4?
'Defence does not new 'planning commissions'; it needs an implementation commission.'
The pipeline for well-qualified and experienced policy economists at senior levels of government has broken, leading to a growing dearth of suitable candidates for top economist positions.
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