Tuesday's meeting at the PM's residence, attended by all the five secretaries in the finance ministry besides top officials of other economic ministries and NITI Aayog, cleared a five-year vision plan for the government to make India a $5-trillion economy by 2024.
At present, the EPFO is mandated to invest 20-45 per cent of its incremental funds - of around Rs 1.5 trillion - in debt-related instruments.
The divestment of Bharat Petroleum Corporation (BPCL) may hit a fuel price hurdle, according to officials dealing with the matter. They pointed out that the inconspicuous administered price regime could hamper the prospects for potential buyers of BPCL. A senior oil ministry official said public-sector oil-marketing companies (OMCs) take a hit when they sell petrol, diesel, and liquefied petroleum gas (LPG), three of the most popular petroleum products in the country.
Sputnik V is the third vaccine India has given the go-ahead to after 'Covishield', developed by Oxford University and AstraZeneca and 'Covaxin', the indigenous vaccine manufactured by Bharat Biotech. Covishield is manufactured by the Serum Institute of India.
VIL pegs dues at Rs 21,533 cr, less than half of DoT estimate. During a meeting with Vodafone Group CEO Nick Read, Telecom Minister Ravi Shankar Prasad made it clear that the government is against a monopoly in the telecom sector, and wants Vodafone Idea to survive and remain invested in India.
'I am sure Dr Patra will get the fullest cooperation from the finance minister who needs workhorses, not prima donnas constantly looking to improve their CVs,' says T C A Srinivasa-Raghavan.
This includes an infrastructure push which may lead to the government spending more than its budgeted capital expenditure for 2020-21. There are also discussions on increasing the scope and quantum of direct cash transfers to the beneficiaries who need it the most.
The department of economic affairs, in its Monthly Economic Review for September, said critical reforms undertaken by the government will put India to a strong and sustainable growth path in the long run.
'Women's voices are too high or too low, or they are seen as too short or too tall, or too fat or too thin, to be great leaders.' 'These judgments wear us down.'
The Reserve Bank on Wednesday said the amalgamation of Lakshmi Vilas Bank with DBS Bank India will come into force from November 27 and the moratorium imposed on the crisis-ridden lender will be removed on that day. The RBI issued the statement within hours of the Cabinet clearing the Scheme of Amalgamation of Lakshmi Vilas Bank Limited (LVB) with DBS Bank India Limited (DBIL).
Maybe Modi could ask a patriarch of the stature of the late G D Birla to flesh out the details of a new company to manage government land privatisation.
The total direct tax collection stands at a little over Rs 9 trillion, giving the taxman just few days to reach the 2018-19 revised target of Rs 12 trillion., reports Shrimi Choudhary.
'At this point of time, West Bengal is doing better than other states in tackling the crisis. We have a chief minister who herself has hit the streets to do what is to be done, and at the same time ensuring a proper lockdown. She is also trying day and night to set up the requisite infrastructure.'
'After a ten year search, the so-called 'mastermind' of the Mumbai Terror attacks has been arrested in Pakistan. Great pressure has been exerted over the last two years to find him!' said Trump who is scheduled to meet Khan at his Oval Office on Monday, July 22.
Rediff.com's Syed Firdaus Ashraf traces the journey of PM-CARES from its founding to finally admitting it is not a government fund.
The government on Monday budgeted Rs 1.75 lakh crore from stake sale in public sector companies and financial institutions, including 2 PSU banks and one general insurance company, in the next fiscal year beginning April 1. The amount is lower than the record Rs 2.10 lakh crore which was budgeted to be raised from CPSE disinvestment in the current fiscal year. However, the COVID-19 pandemic impacted the government's CPSE stake sale programme, and the target has been lowered to Rs 32,000 crore in the Revised Estimates.
'He's at best a holding-CEO. Not one who will re-imagine the bank,' a senior banker and former colleague tells Raghu Mohan about HDFC Bank CEO & MD Sashidhar Jagdishan.
Billionaire Anil Agarwal's mining group Vedanta on Monday said it has withdrawn cases in the Delhi high court as well as before an international arbitration tribunal to settle a Rs 20,495 crore retrospective tax dispute with the government. Post slapping of a Rs 10,247 crore tax demand on UK's Cairn Energy Plc for alleged capital gains made on a 2016 internal reorganisation prior to the listing of its India business, the Income Tax Department had sought Rs 20,495 crore in taxes (including penalty) from Cairn India for failing to deduct tax on capital gains made by its British parent. Cairn India was in 2011 bought by Agarwal's group and subsequently, the firm was merged with Vedanta Ltd.
Syed Firdaus Ashraf/Rediff.com presents the names of 10 global terrorists who, according to United Nations Security Council, are operating against India from Pakistan.
Accounting for the first Advance Estimates for 2017-18, an additional planned borrowing of Rs 200 billion, the fiscal deficit could come in at 3.35 per cent of GDP.
These officers also have been divested of their current duties on charges of violating Rules 9 and 3(1)(xx) of the Central Civil Service Conduct Rules.
As around 5,000 nurses went on strike from the afternoon hampering patient care services at the premier hospital, AIIMS Director Randeep Guleria in a video message termed the strike in the time of pandemic as "inappropriate and unfortunate".
State-owned companies have been set stiff targets to increase accountability as they get ready for divestment. Nikunj Ohri explains why meeting them will be challenging.
Despite a steady collection rate, the government faces a steep Budget target of Rs 6.1 trillion for CGST for 2019-20.
'There is a time for lowering one's expectations of the economy -- and therefore not trying to do too much in the Budget,' notes T N Ninan.
Finance Minister Nirmala Sitharaman on Wednesday announced Rs 3 lakh crore collateral free automatic loan for businesses, including MSMEs, to benefit 45 lakh small businesses. Detailing parts of the Rs 20 lakh crore economic stimulus package, she said this loan will have a 4-year tenure and will have 12-month moratorium, she said.
The idea behind advancing the Budget date is to ensure that the Finance Bill is passed before the start of the financial year, on April 1, so that all central government departments get their full allocations to work with right from the first day
'Those who are talking of adopting the Narasimha Rao-Manmohan Singh policy must understand now that what was a reform then is no longer a reform now,' argues Sukumar Mukhopadhyay who was associated with the 1991 economic reforms.
The Anti-Terrorism Court in Lahore granted interim bail to Saeed and his aides -- Hafiz Masood, Ameer Hamza, and Malik Zafar -- until August 31 against surety bonds of Rs 50,000 each, Dawn newspaper reported.
Banking operations including cheque clearance across the country got affected on Monday as bankers under the aegis of the United Forum of Bank Unions have gone on a nationwide strike to protest against the proposed privatisation of two state-owned lenders.
'Nirmalaji's Budget announcements have long-term implications and are not backed by enough money when the short-term outlook looks bleak,' notes T N C Rajagopalan.
While the meetings on Friday were preliminary discussions, it is learnt that sectors like tourism; hospitality; aviation; micro, small and medium enterprises (MSMEs); and livestock have sought deferring loan repayments and temporary tax holidays in specific cases to help them tide over the steep fall in economic activity.
Yellen, 74, was confirmed by the Senate in a broad bipartisan support of 84-15 votes on Monday. Both the Democratic and the Republican parties have 50 members in the 100-seat Senate.
Legislators, bureaucrats feel an impact, with works relating to their constituencies stuck at various levels.
Months before 8/11, MP, Haryana probed note ban
AIADMK coordinator O Panneerselvam is said to be upset at his son Raveendranath Kumar, a Lok Sabha MP, being denied a ministerial chance for a second time in a row, beginning with the formation of Modi 2.0 in 2019, reveals N Sathiya Moorthy.
The 82-year-old former Jammu and Kashmir chief minister received the ED summons a day after the formation of the People's Alliance led by him was announced on October 15.
Former Test opener Langer urged the board and the players union to thrash out their differences behind "closed doors".
The two nations had agreed on $700 million deal under which Pakistan was to pay $270 million (Rs 179 crore) from its national funds to purchase eight F-16s while the US was supposed to finance the rest of the amount from its Foreign Military Financing fund.
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