The new agri-infra fund, the duration of which will be 10 years till 2029, aims to provide medium-to-long term debt financing facility for investment in viable projects for post-harvest management infrastructure and community farming assets through interest subvention and financial support.
The scheme initially envisaged conferment of proprietary rights of around 20.55 lakh kanals of land (1,2,50 hectares) to occupants of which 15.85 per cent of land was approved for vesting of ownership rights.
Lt Governor Najeeb Jung, who is now administering Delhi after President's rule was imposed, on Tuesday made it clear that none of the decisions and initiatives taken by the Aam Aadmi Party government will be scrapped, including the 50 per cent subsidy on power tariff.
Despite the government's hectic efforts to avoid voting on the no-confidence motion against Khan, the joint Opposition succeeded in its month-long efforts to oust Khan from the prime minister's office as 174 members of the 342-member National Assembly voted against him in the wee hours of Sunday after a day of high drama.
Days after the government went public with its intent to examine a Sebi order in the NSE matter, its outgoing chairman Ajay Tyagi on Wednesday made it clear that the markets regulator did not "dilute" any of the quasi-judicial verdicts. The comments assume significance as they come after Finance Minister Nirmala Sitharaman, as per reports, recently said the government is examining if Sebi has taken "necessary punitive" action in the case. In a media interview, the FM had said the government was analysing if there had been "enough application of mind in dealing with this" and if after applying its mind, Sebi took adequate corrective steps.
Key to China's decision regarding Taiwan will be its leadership's assessment whether the US will come to Taiwan's defence, explains Jayadeva Ranade, the former senior RA&W officer and China expert.
The Reserve Bank of India is not a free agent. It never has been, nor should it ever be.
RJD chief Lalu Prasad Yadav demanded the Bihar CM to sack his deputy and lodge a case against him and arrest him.
A lot of work is needed to be done on the part of the insurance sector behemoth, and the government, before it is ready for its market debut.
The government may be waiting for the outcome of an arbitration initiated against its levy of Rs 10,247 crore retrospective tax on UK's Cairn Energy Plc before deciding on appealing against losing a tax case against Vodafone Group, sources said. An international arbitral tribunal is expected to give a decree within next few days on Cairn Energy Plc's challenge to the Indian government seeking Rs 10,247 crore in retrospective taxes. If the arbitration award in the Cairn cases goes against India, the government has to pay the British firm over Rs 7,600 crore to reverse the dividend and tax refund it had ceased and shares it sold to recover part of the tax demand.
The Biden administration has come under criticism from several quarters, including from members and supporters of the Democratic party, for not releasing surplus COVID-19 vaccines to India when the country is experiencing its worst-ever public health crisis.
Governor Banwarilal Purohit administered the oath of office and secrecy to 68-year old Stalin, for whom this would be the first stint as CM
The main responsibility for producing the Budget rests with the Budget Division of the Department of Economic Affairs in the finance ministry
He had already been granted bail in the Chaibasa Treasury Scam case in October 2020, and in the Deoghar Treasury Scam case in February 2020.
If the fiscal deficit for the year can be maintained at Rs 7.04 trillion, the deficit as a percentage of GDP will slip to 3.44 per cent
Markets regulator Sebi and the Directorate of Revenue Intelligence (DRI) are probing some Adani Group companies for alleged non-compliance with rules, the government told Lok Sabha on Monday. Minister of State for Finance Pankaj Chaudhary in a written reply to a question said accounts of three of the six Mauritius-based funds, that have invested most of their money in Adani Group firms, were frozen in 2016 over the issuance of Global Depository Receipt (GDR) by certain listed firms. No freeze was ordered for their holding in other firms.
'If more than 60 commissioner-level tax officials were compulsorily retired in the span of a few months, surely the malaise is far deeper,' notes A K Bhattacharya.
Finance Minister Nirmala Sitharaman on Monday assured the industry that momentum of economic reforms will continue to make India a hotspot of global investment. India has turned the crisis created by COVID-19 pandemic into an opportunity to push the economic reforms, which remained pending for decades, she said while addressing the National MNC's Conference 2020 organised by industry chamber CII.
The State Department said US citizens should reconsider non-essential travel abroad. Those that must travel abroad following the implementation of this order should carefully consider the strict implementation of the travel restrictions.
All-rounders in Indian cricket are a rare commodity and the newest entrant to the club, Venkatesh Iyer, knows only too well that he has to keep his focus on both aspects of the game in order to remain relevant.
At the press interaction, Sitharaman said secretaries from the department of financial services and economic affairs will be meeting a deputy governor of RBI soon to look into the "shortcomings" of the functioning of multi-state cooperative banks and see if any amendments can be made to the laws.
"The strategic divestment transaction of Air India successfully concluded today with transfer of 100 per cent shares of Air India to M/s Talace Pvt Ltd along with management control," DIPAM secretary Tuhin Kanta Pandey said in a tweet. A new board, led by the strategic partner, takes charge of Air India, he added.
After witnessing cloudy skies this year, the country's renewable energy sector is expected to boom with a likely investment of over $15 billion in 2022 as the government focuses on electric vehicles, green hydrogen, manufacturing of solar equipment as well as achieving the ambitious 175 GW renewable capacity target. India, which has an installed renewable energy generation capacity of a little over 150 GW, aims to reach 175 GW in 2022. Out of the total mix, 100 GW would be from solar, 60 GW from wind, 10 GW from bio-power and 5 GW from small hydro power projects.
I-T officials are also looking into the finances of candidates who contested state elections in Uttar Pradesh, Punjab, Gujarat, and Karnataka, reports Shrimi Choudhary.
LIC, EPFO and PSBs are likely to be asked to subscribe to bonds.
Scrapping Plan and non-Plan classifications necessitates the change
Providers write to Sebi, FinMin; launches may hit pause.
'A fragile Sri Lanka will have a serious impact on the security of India.'
The current estimate, however, largely covers only the cost of infrastructure such as pipes, construction of borewells, overhead costs among others and not the expenditure to be incurred on operation and maintenance.
Saeed, has been moved to an unknown location.
Of the total cash outgo Rs 40,000 crore is towards enhanced expenditure under Mahatma Gandhi National Rural Employment Guarantee Program and Rs 33,771.48 crore have been sought for direct benefit transfer under Pradhan Mantri Jan Dhan Yojana and National Social Assistance Programme.
The DGP was on the "hit list" of the YSR Congress for some time now, as they were perceived to be close to the previous Telugu Desam Party government.
Bharti Airtel and Vodafone Idea have communicated to the telecom department that they will not pay AGR dues of Rs 88,624 crore, the deadline for which ended on Thursday, and will wait for the outcome of modification petition listed for hearing before the Supreme Court next week, according to official sources. Reliance Jio on Thursday paid Rs 195 crore to the telecom department to clear all adjusted gross revenue dues accounted till January 31, 2020, according to an official source.
The finance ministry has asked public sector banks to monitor cases where insolvency proceedings could be initiated against individuals who are guarantors of corporate debtors that have defaulted on loans.
Patra, as executive director of the central bank, was the principal advisor to the Monetary Policy Department since July 2012.
Taking lessons from that, I would think seamless digital payments is something you have to clearly have a roadmap for, the FM said.
The tax department will remain a source of endless nightmares for citizens and 'transparent taxation' will remain an empty slogan and a cruel joke, observes Debashis Basu.
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Moving quickly towards ending a retrospective tax dispute with a firm that gave India its largest oilfield, the government has accepted Cairn Energy PLC's undertakings which would allow for the refund of taxes, sources said. Meeting the requirements of the new legislation that scraps levy of retrospective taxation, the company had earlier this month given required undertakings indemnifying the Indian government against future claims as well as agreeing to drop any legal proceedings anywhere in the world. The government has now accepted this and issued Cairn a so-called Form-II, committing to refund the tax collected to enforce the retrospective tax demand, two sources with direct knowledge of the development said.
He will be the first bureaucrat to head the central bank in almost five years.
However, the US praises India for its significant counter-terrorism actions.
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