PNB took the delivery of these high-end luxury cars worth approximately Rs 1.34 crore last month, unmindful of the coronavirus outbreak, subsequent nation-wide lockdown and its crippling effect on the financial sector as well as the economy. The annual depreciation on this purchase will be around about Rs 20 lakh.
The correlation between withdrawal of deposits and the Covid death rate is stark, reveals Tamal Bandyopadhyay.
'Under this government, tax laws have become more draconian, and the government itself is setting stiff, unrealistic targets for tax officials, who have got more powers to harass us,' points out Debashis Basu.
The whistleblower, claiming to be an employee working in the finance department, said he was submitting a 'whistleblower complaint' unanimously as the matter stated was 'volatile' and that he feared retaliation on disclosing the identity.
This will be the first time since the presentation of independent India's first budget on November 26, 1947, that the documents containing income and expenditure statement of the Union government along with finance bill, detailing new tax and other measures for the new financial year, will not be physically printed.
Chidambaram has not been named as an accused in the FIR and the CBI is yet to file a chargesheet in the matter.
According to the sources, there are limited prospects of J&J exporting its vaccine from the US to other countries in the near future and the "entire production" at the BE facilities in India, beginning July/August, will be handed over to the pharma giant under a contract between the companies.
Finance Minister Nirmala Sitharaman spelled out water, its management, clean rivers as one of the 10 points of vision for the next decade.
A K Bhattacharya lists three reasons why Finance Minister Arun Jaitley will most likely present a full Budget on February 1, 2019.
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.
There is no reason for keeping an entire ministry with a total staff strength of 2,300, just for the oversight of a few aviation sector laws and regulatory bodies, notes A K Bhattacharya.
There has been a decline in foreign direct inflow from China in the last three years, with FDI coming down to USD 163.77 million in 2019-20, Minister of State for Finance Anurag Singh Thakur informed the Lok Sabha on Monday. Giving details of the total foreign direct investment (FDI) inflow from Chinese companies in India, he said, it was USD 350.22 million in 2017-18, while it declined to USD 229 million in the following year.
Phase-I clinical trials have revealed "excellent safety" of the two candidate vaccines indigenously developed by Bharat Biotech in collaboration with Indian Council of Medical Research and Cadila Healthcare Ltd and their immunogenicity testing is now in progress, minister of state for health Ashwini Choubey informed the Rajya Sabha on Tuesday.
The Reserve Bank of India is not a free agent. It never has been, nor should it ever be.
The finance minister is ready to present a second financial package. The Centre has ruled out a mega stimulus and will rely on targeted, incremental packages. Industry is clamouring for a bailout, the liquidity upheaval in capital markets is nowhere close to being sorted out, and all budgetary forecasts now stand irrelevant, reports Arup Roychoudhury.
There is money to buy the central public sector enterprises, but buyers will need a firm assurance that the disvestment programme will keep environment issues front and centre of their corporate plans.
The session started on January 29 and was originally slated to end on April 8 but several members had urged Speaker Om Birla to end the session earlier as they focus on electioneering for the five assemblies.
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.
But it is disappointing to note that Sitharaman's third Union Budget continues to promote a few problematic ideas, observes A K Bhattacharya.
RJD chief Lalu Prasad Yadav demanded the Bihar CM to sack his deputy and lodge a case against him and arrest him.
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.
This was the one Budget that required radical departures on all these fronts, when it had none, asserts, Shreekant Sambrani.
The main responsibility for producing the Budget rests with the Budget Division of the Department of Economic Affairs in the finance ministry
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.
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.
Sunak joins fellow Indian-origin candidate Suella Braverman, the UK Attorney General who is among the early Tory MPs to announce her plan to contest.
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.
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.
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.
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
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.
Providers write to Sebi, FinMin; launches may hit pause.
'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.
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
Scrapping Plan and non-Plan classifications necessitates the change
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.
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.
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.
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.
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.
