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The government is likely to file an appeal against the Cairn arbitration award contesting its sovereign rights to tax, sources said.
Pawan Kumar Soni, a 55-year-old farmer based in Sri Ganganagar City in Rajasthan, became a victim of a cyber fraud when his 26-year-old son Harsh Vardhan opened a link from a phishing message that flashed on his mobile phone.
After the government sought Parliament's nod for a second batch of supplementary demand for grants that will cause a hit of Rs 2.99 trillion to the exchequer, doubts suddenly arose about the government's ability to meet the Budget projections of reining in its fiscal deficit at 6.8 per cent of gross domestic product (GDP), or Rs 15.06 trillion, for the current financial year. Till now, many were of the opinion that the government would succeed in checking the deficit at a much lower figure than what was given in the Budget Estimates (BE). The government had sought Parliament's approval to spend Rs 3.74 trillion extra, but Rs 74,517.01 crore will be matched by equal savings on other heads.
Tata Sons has emerged as the top bidder for the takeover of debt-laden State-run airline Air India but the bid is yet to be approved by a group of ministers headed by Home Minister Amit Shah, sources said.
These self-appointed well-wishers of AMU are basically for the control or police model of university governance. They have no faith whatsoever in the democratic functioning of the universities, observes Faizan Mustafa, former dean, Faculty of Law, and Registrar, Aligarh Muslim University.
Since no insurance companies share data on their claims with each other, the finance ministry and Irdai suspect that a lot of the resultant claims are duplicates.
Blinken and Indian leaders on Wednesday will discuss a plethora of pressing issues such as the fluid situation in Afghanistan, regional security concerns, COVID-19 response and ways to boost Indo-Pacific engagement, people familiar with the agenda of talks said.
Governor Acharya Devvrat administered the oath to 10 cabinet ministers and 14 ministers of state, including five ministers of state with independent charge.
In his letter, Singh hinted since the Central Public Works Department's tableau already featured Bose, West Bengal's float was not included for the parade, without saying it in so many words.
A bitter dispute has broken out in the Rajkot royal family of Gujarat over the ancestral property worth hundreds of crores with one of the members moving court.
Every bank offers a different slab of minimum balance to customers, based on which 'free services' are provided
The Comptroller and Auditor General of India on Monday reported multiple irregularities in the accounts of units under the IT and telecom ministries, including purchases of hardware and software worth Rs 890 crore by NICSI in contravention of rules. In its audit report for financial years 2017-18 and 2018-19, the Comptroller and Auditor General (CAG) has flagged anomalies in the decision taken by state-run telecom firm BSNL, C-DoT, the Department of Posts, ITI Limited and CDAC that had adverse financial implications. "NICSI procured hardware and software costing Rs 890.34 crore through the 'Strategic Alliance' route in contravention of General Financial Rules, 2005 and departmental instructions and thus failed to ensure transparency and competitiveness in the procurement process," according to the CAG report tabled in Lok Sabha on Monday.
While presenting her 2021-22 Union Budget, Finance Minister Nirmala Sitharaman had set a fiscal deficit target of 6.8 per cent of nominal gross domestic product (GDP) against the 2020-21 Revised Estimate of 9.5 per cent. The fiscal correction in the upcoming 2022-23 Union Budget is unlikely to be that steep. Even as discussions among top Budget-makers are ongoing, the fiscal deficit target for 2022-23 may likely be in the range of 6.5-6.8 per cent.
There is no proposal to modify income tax returns forms, finance ministry sources clarified when asked to comment on news reports that the purported statement of financial transactions expansion would result in the filing of high-value financial transactions in ITR by the taxpayers themselves.
Four state-owned banks on Friday said the government has extended tenures of their top officials, including managing director and chief executive officers (MD and CEOs) of Punjab National Bank and Bank of Maharashtra. Besides, the government has extended the tenures of executive directors of Punjab National Bank (PNB), Union Bank of India and Central Bank of India. The government sent notifications to these banks on Thursday, informing them about the extensions given to the top-level officials.
"NSO is a private company, it is not a governmental project and therefore even if it is designated, it has nothing to do with the policies of the Israeli government," Israel's Foreign Minister, Yair Lapid, said at a joint press conference with Prime Minister Naftali Bennett and Finance Minister Avigdor Lieberman at the Prime Minister's Office on Saturday evening.
According to a senior government official, the plan is to do "collective bargaining" for certain medical devices and implants by assuring a bulk requirement to the manufacturers. "The requirement for these devices runs into millions. We assure them that the requirement is going to be in bulk. In return, they should offer us better rates," he said.
Earlier this year, the Union Cabinet gave the management of state-run companies the freedom to decide on divesting their subsidiaries. However, the very next day a meeting was held at the top level of the Government of India, for the presentation of proposals for more autonomy for state-run companies. Interestingly, no chiefs of any of these companies were invited. It is a problem that will stare the government in the face with the state-owned banks too, as talks have again begun for inviting strategic investments in these companies.
South Korean President Park Geun-hye's visit to India will enhance economic and military ties between the two countries and give the relationship a strategic dimension, says Jiye Kim.
The most immediate challenge for growth is the disruption of the global economy brought about by the Ukraine war and related sanctions, the Covid shutdowns in China and the rising tide of inflation, points out Nitin Desai.
The list has been sent to Governor Ram Naik for approval.
Sisodia said the growing enthusiasm among the people of Gujarat in supporting the AAP in Gujarat was the reason behind the CBI action against him.
1980-batch IPS officer Sulkan Singh, who was DG-Training, will replace Ahmed, a 1984-batch IPS officer, who has been shifted as the DG of Uttar Pradesh Provincial Armed Constabulary, a senior home department official said.
Maintaining a rapid pace of the vaccination drive and quickly bridging healthcare infrastructure gaps across both urban and rural areas would emerge as the most sustainable stimulus for durable recovery of the Indian economy, says a report by the department of economic affairs.
The agency said it searched a Mumbai-based operator who was running 700 shell companies with 20 dummy directors and had "converted Rs 46.7 crore for Chaggan Bhujbal", the jailed ex-Maharashtra deputy chief minister.
This is Blinken's first visit to India after assuming charge as the US Secretary of State and the third by a high-ranking Biden administration official after it came to power in January.
"In view of the crisis arising out of Covid-19, it has been decided that additional instalment of dearness allowance payable to central government employees and dearness relief (DR) to central government pensioners due from January 1, 2020, shall not be paid. "The additional instalment of DA and DR due from July 1, 2020, and January 1, 2021, shall also not be paid," the department of expenditure said in an office memorandum.
The infrastructure spending target for 2020-25 was revised because of additional and amended data provided by central ministries, state governments since the release of the summary NIP Report in December 2019 when it was pegged at Rs 100 trillion.
The finance ministry has proposed to decriminalise a host of minor offences, including those relating to cheque bounce and repayment of loans, in as many as 19 legislations to help businesses tide over the crisis caused by the coronavirus outbreak. The 19 legislations include Negotiable Instruments Act (cheque bounce), SARFAESI Act (repayment of bank loans), LIC Act, PFRDA Act, RBI Act, NHB Act, Banking Regulation Act and Chit Funds Act.
The statue of Gandhi, which was donated by the Indian government to the city of Davis, was installed by the city council four years ago amidst protests from anti-Gandhi and anti-India organisations.
Jaitley's team presents a quintessential mix of foreign-educated, intellectual technocrats and seasoned bureaucrats
The ED case has been booked under the Prevention of Money Laundering Act (PMLA) and the agency will record the statement of the accused. The central agency will investigate if proceeds of crime were generated by the accused by laundering of funds that were earned through the alleged gold smuggling racket.
The government on Thursday brought a bill in the Lok Sabha to withdraw all back tax demands on companies such as Cairn Energy and Vodafone and said it will refund the money collected to enforce such levies.
In December, Aisha Shah was named as Partnerships Manager at the White House Office of Digital Strategy.
Conformity assessment procedures will be put in place to verify that goods and services sold on e-commerce platforms meet required standards and technical regulations, according to the draft e-commerce policy. The policy, which is under discussion, also stated that actions and things which cannot be done by the online platform entities "can also not be done" by any of its associates and related parties. Government may, from time to time, notify parties which fall in the definition of associates and related parties, it said.
The trouble for Ashok Lavasa's family began a few months back when his wife, Novel Singhal Lavasa, came under the scanner of the income tax department on charges of alleged tax evasion.
Is there more than meets the eye to Kitex Garments, the world's second-largest children's garment producer, abandoning Kerala for Telangana?
As the Centre pushes reforms in the power sector, especially for the beleaguered electricity distribution segment, several states, especially those ruled by Opposition parties, are clamouring against it. Maharashtra, West Bengal, Tamil Nadu, and Kerela have voiced their reservations against the proposed amendments to the Electricity Act, 2003. The irony is the states opposing the amendments on the ground of threat of privatisation already have private partnerships in power supply. The proposed Bill was slated to be placed on the floor of Parliament in the Monsoon session. But it still awaits Cabinet approval amid several states complaining that they have been not consulted on the issue.
Wait for a while before he does another somersault... But one thing is reasonably certain -- the twice betrayed BJP may not embrace him again, predicts Virendra Kapoor.
Of the three major Budget announcements related to the banking sector, privatisation of PSBs is the most audacious, says Tamal Bandyopadhyay.
