Out of the total dues, Satyam Computer, which has now been re-branded as Mahindra Satyam, alone owes a hefty Rs 532 crore (Rs 5.32 billion) to the Income Tax department
The government lost Rs 71,255 crore (Rs 712.55 billion) on tax rebates and exemptions awarded to corporates and non-corporates in the 2008-09 fiscal, Minister of State for Finance S S Palanimanickam told Rajya Sabha.
The government said on Tuesday that market regulator Securities and Exchange Board of India has not received any information about participation of terrorist organisations in the Indian stock exchanges.
The Centre on Friday said it will persuade states to reach a consensus on the Goods and Services Tax so that it can be implemented from April 1 next year.
"The RBI has reported that there has been some rise in various crimes, including murders, at bank premises during the last three years," minister of state for finance Namo Narain Meena told the Lok Sabha in a written reply.
The fiscal measures announced by the government and the monetary measures by the Reserve Bank of India were aimed at mitigating the effects of the economic downturn.
Bank loan defaults rose to Rs 74,685 crore (Rs 746.85 billion) at the end of March 2010, with non-performing assets of public sector banks reaching Rs 57,301 crore (Rs 573.01 billion), Parliament was informed on Tuesday.
The government informed the Rajya Sabha on Thursday that Enforcement Directorate is looking into complaints of Foreign Exchange Management Act violations by Anil Dhirubhai Ambani Group, but no conclusion has been reached.
'If some measures are implemented quickly, they can help revive growth.'
"The Union government has been following prudent external debt management policies to manage external debt flows, consistent with overall macroeconomic requirements and to keep the external debt level within manageable limits," Meena told the Lok Sabha in a written reply on Friday.
Corp tax arrears at over Rs 3.11 trillion as of Dec 2014.
"Banks have been exploring the feasibility of using mobile phones as an alternative channel for delivery of banking services. RBI has observed an increase in usage of mobile phones for banking transactions," minister of state for finance Namo Narain Meena told the Upper House in a written reply.
"After the meeting which took place in Srinagar last week, it is safe to say that GST will be levied across the country starting July 1," Gangwar told ANI.
The probe is expected to take about three months.
All these were done on the basis of forged papers.
NPA problem to continue for next 2-3 quarters: banks to FinMin
It also receives large investments from the Europe.
"Preparations for the regular budget are on... priorities are listed in the manifesto. (These) Will get reflected in the finance minister's budget speech," said the new minister of state for finance Namo Narain Meena. 'The focus of the new measures will be to stimulate demand in the domestic economy and to ensure there is more purchasing power in the hands of the people and more liquidity in the hands of the companies,' the Congress manifesto says.
British Virgin Islands, Mozambique, the Netherlands, Mauritius and Singapore were the top five nations where Indian firms made investment of $9.6 billion in the last three years.
At the same time there were few complaints about the wrong reporting of credit information to the Credit Information Bureau (India) Ltd, which was taken up by the RBI with the concerned bank for redressal, minister of state for finance Namo Narain Meena told the house in a written reply.
Ruling out any plans to restructure the National Investment Fund (NIF), the government on Friday said the proceeds from divestment of the NHPC and Oil India Limited (OIL) will be credited to the NIF.
The partially revised figures for FY'08 stood close to $3 billion at $2,827 million while, the two fiscal years FY'06 and FY'07 saw an outflow of $1.1 billion each and the same was $642 million in fiscal 2004-05.
The government has no plans to increase the income tax ceiling on home loan interest payments, though there was a demand from the urban development ministry in this regard.
Rise in NRI deposits pushed up India's per capita external debt by 17.55 per cent to Rs 21,493 in one year period ending March 2014, government said in the Rajya Sabha.
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Prime Minister Narendra Modi arrived in Fortaleza on Monday to attend a summit meeting of the BRICS nations that will address regional crises and security threats to restore a climate of peace while advancing global economic stability.
With 600-700 new NPA cases getting admitted into NCLT every month, the demand for resolution professionals is on the rise with their number more than doubling in less than a year.
The government will give state fuel retailers Indian Oil, Bharat Petroleum and Hindustan Petroleum Rs 12,000 crore (Rs 120 billion) to partly compensate them for losses on LPG and kerosene by March 31.
"Post demonetisation, during November 9, 2016, to January 10, 2017, more than 1,100 searches and surveys were conducted and more than 5,100 notices were issued by the income tax department for verification of suspicious high-value cash deposits," Finance Minister Arun Jaitley said in a written reply in the Lok Sabha on Friday.
Say their aggregate borrowings were "well within the norms"
The top 100 tax defaulters owe the exchequer a whopping Rs 1.41 lakh crore.
The New Pension Scheme (NPS), launched by the government, was extended to all citizens of the country from May 1, 2009. Under the scheme, 50 per cent of the funds is allowed for investment in the stock markets.
Kalikho Pul trekked a long way in his political career to become the eight chief minister of the state, a position he could hold only for six months.
The country's growth may moderate to 6.25 per cent -- the lower end of the forecast by the Economic Survey for 2008-09 -- in the current fiscal if the global economic downturn prolongs, the Lok Sabha was informed on Friday.
While presenting the Union Budget for 2009-10, finance minister Pranab Mukherjee had said that in order to bring in tax reforms in the country the government will bring the new DTC within 45 days. The code will replace the existing Income Tax Act, which was enacted in 1961 and would subsume the direct tax legislations.
Banks have collected about 1,500 kg of gold from temples and trusts under the Gold Monetisation Scheme (GMS) since its launch last November.
The Income Tax department has sent a detailed questionnaire to about 50 individuals and entities figuring in the list of those allegedly holding offshore assets in tax havens.
The government on Friday said total value of Participatory Notes holding Indian shares was Rs 1,03,579 crore (Rs 1.03 trillion) at the May-end and there is no definite trend in the PNs issued since November.
The government on Friday said it has penalised Kingfisher Airlines with a fine of over Rs 26 crore (Rs 260 million) for delay in the payment of tax deduction at source (TDS).
On whether the futures trading policy of the government has resulted in the extremely high inflation (as seen some months ago), he said the committee to study the impact of futures trading on the prices of agricultural commodities could not draw any strong conclusion. The latest inflation rate as on December 6, measured by the wholesale price index, stood at 6.84 per cent. The rate of inflation had touched a high of 12.91 per cent on August 2.
While Arun Jaitley remains part of the decision making process, Piyush Goyal, who was given additional charge on May 14, attends cabinet meetings and takes the day-to-day decisions.
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