In a US-India Joint Leaders' Statement issued after the first in-person bilateral meeting between US President Joe Biden and Prime Minister Narendra Modi at the White House on Friday, the two leaders underscored the importance of combating terrorism in Afghanistan.
Macroeconomic management is usually a lot more comfortable with lower fiscal deficits. The sooner we get there, the better for the economy, says former Chief Economic Adviser to the Government of India Shankar Acharya.
'There have been many cases where clients have indicated that they feel suicidal as they feel they have no other options to deal with their financial hardship.'
Replying to the notice issued, the Central government said that ex-gratia amount cannot be paid due to financial constraints and other factors.
India lost around 38.5 thousand hectares of tropical forest in the last decade. Nearly 14 per cent of the country's tree cover! It is one thing for Modi to announce that India will reach a net-zero level of emissions in 2070. But if it is serious, it needs to start today, points out Ramesh Menon.
During his three-day UK visit until Tuesday, Modi is listed to address the COP26 summit with a national statement about India's climate action plan in the afternoon session on Monday, ahead of Australian Prime Minister Scott Morrison and Pakistan Prime Minister Imran Khan.
Axis Bank's acquisition of Citibank's consumer finance business for Rs 12,325 crore - the second biggest deal in the Indian banking sector - is seen as a good deal at a good price. The acquisition enables Axis Bank to close the gap with competition in some key segments such as credit cards. At the same time, there are some key issues that are crucial for the deal's success, apart from the fact that it will take some time for Axis to reap the full harvest of its investment.
It was widely expected that this time around, the government would be less likely to initiate fresh reforms and rather loosen its belt a little to give various segments of the economy, especially the multitudes that truly constitute India, something to smile about, says Sudip Bandyopadhyay.
The finance ministry on Friday said advance tax collection increased by 53.50 per cent to Rs 4.60 lakh crore so far this fiscal year, indicating recovery in the economy. Direct tax collections for 2021-22, as on December 16, show that net collections are at Rs 9.45 lakh crore compared to Rs 5.88 lakh crore over the year-ago period, representing an increase of 60.8 per cent, the ministry said in a statement. "The net collection (as on December 16) in FY22 has registered a growth of 40 per cent over the corresponding period of previous year when the net collection was Rs 6,75,409.5 crore, and a growth of 40.93 per cent over the corresponding period of 2018-19 when the net collection was Rs 6,70,739.1 crore," it said.
'This issue is related to national security because they were compromising the entire capital markets's core infrastructure by leaking confidential information.' 'What would have happened if the servers had come down?' 'Or some confidential information leaked to terrorists who could have knocked out our capital market?'
Concerned by GDP slowdown and unrealistic tax targets, the economists urged Finance Minister Nirmala Sitharaman to implement long-term structural steps like land and labour reforms. Warning against any off-Budget financing the economists said the government should prepare a statement of intent for its social, rural and welfare sector expenditure.
Given the dismal show of the Congress in the recently concluded assembly polls and the JMM eating into its vote bank, the possibility of Congress MLAs switching sides is not bleak, reports R Krishna Das.
Prime Minister Narendra Modi on Thursday is scheduled to have as many as eight meetings, including with Vice President Kamala Harris, on the first working day of his current US trip.
After the Reserve Bank of India restricted the Sri Guru Raghavendra Co-operative Bank from doing business with immediate effect and capped the withdrawal limit at Rs 35,000, depositors on Tuesday queued up outside the bank's branches in Bengaluru. The regulatory body said the bank will continue to undertake banking business with restrictions until its financial position improves.
'There will be political opposition, and this monetisation will require continued political will.'
The agency is also investigating the overall financial structure of Kingfisher Airlines.
'If Ranil Wickremesinghe starts repressing and suppressing the protesters who represent the people, that will pose a danger for him to continue in office.'
The 13th report of the Analytical Support and Sanctions Monitoring Team cites a UN Member State as saying that Jaish-e-Mohammed (JeM), a Deobandi group ideologically closer to the Taliban "maintains eight training camps in Nangarhar, three of which are directly under Taliban control."
The government's subsidies on food, fertilisers and petroleum are estimated to decline by 39 per cent to Rs 4,33,108 crore this fiscal and fall further by 27 per cent to nearly Rs 3.18 lakh crore in 2022-23. In its revised Budget (RE) estimate for the 2021-22 fiscal, the government has pegged total subsidies to be at Rs 4,33,108 crore against the actual Budget estimate of Rs 7,07,707 crore in the previous financial year. Out of which, the food subsidy is estimated to decline to Rs 2,86,469 crore in the current fiscal from Rs 5,41,330 crore in 2020-21, while petroleum subsidy is estimated to fall to Rs 6,517 crore from Rs 38,455 crore in the said period.
'Should we shortchange our investors by exiting early?'
US Secretary of State Antony Blinken, in the 2020 Country Reports on Terrorism issued on Thursday, said that regionally, terrorist groups continued to operate from Pakistan.
Taking a jibe at Yashwant Sinha, the finance minister said that he doesn't have luxury of being former finance minister.
The DMK feels its genuine gestures have had no bearing on the governor's politico-administrative conduct, which is 'more political and politicised than administrative and Constitutional', observes N Sathiya Moorthy.
The text of the Income tax amendment is so wide and so riddled with ambiguities that it deserves to be scrapped for those reasons alone, says N S Nigam.
The country was, in February, put on the list of jurisdictions that require increased monitoring. These are done to counter money-laundering, terrorist financing, and proliferation financing in a more efficient manner.
Money is a touchy topic for most of us. Money fights between couples are all about control and freedom. Keeping the communication channels open and respecting each other's attitudes can help couples manage finance better.
It makes sense to shift to a home loan provider offering a lower interest rate or make occasional prepayments by using bonuses or other windfalls, says Sanjay Kumar Singh.
Asked to comment on the raids, Sitharaman spoke of the 2013 raids not being an issue and they suddenly become one now.
Replying to the general discussion on Budget in Lok Sabha, she said the former Congress chief was creating fake narratives but does not have patience to listen to replies on allegations levelled against the government.
The panel will likely play an important role as the Personal Data Protection Bill gets tabled in Parliament.
A heavy agenda including the ordinance on the Food Security Bill awaits the Monsoon session of Parliament beginning on Monday amid expectations that the short sitting will be more businesslike and smooth as compared to the din and dust in the last few sessions.
Special Judge O P Saini issued notice to the agency and sought its response by October 8.
'Raut saheb has mentally wired himself to spend some time in ED custody.' 'He knows the risk is huge, but rewards will be bigger if he comes out unscathed.'
Banks are in the process of getting a board-approved restructuring framework in line with the RBI's framework and eligibility defined by the central bank.
'The book has immense value because it reveals the inner workings of the think-tank which appears to provide facts and insights to Modi, though he himself takes the final decisions and articulates them in his characteristic rhetorical style,' says Ambassador T P Sreenivasan.
The I-T department issued a circular allowing manual filing of Form 15CA/15CB (required for foreign remittances) with banks till June 30, so that business transactions may go on. The forms will be uploaded online on the e-filing portal later, it added.
The finance minister asked lenders to identify eligible borrowers and reach out to them and urged for quick implementation of a sustained resolution plan for the revival of every viable business.
As much as Rs 3.64 lakh crore has been collected as advance tax, which is 14.5 per cent higher than the advance tax collections during the same period last year.
The Financial Intelligence Unit (FIU), the federal economic snoop agency under the Union finance ministry, sent 289 legal requests to its counterparts across the globe during 2018-19 as compared to 177 in 2017-18 and 138 in 2016-17.
The worst may perhaps be over for these stocks, suggests Sanjay Kumar Singh.
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