The government must expedite its plan for asset sale and privatisation, both of which hardly got any mention in the Budget speech, points out A K Bhattacharya.
A 5 per cent GST rate kicked in on Monday on pre-packed and labelled food items such as cereals, pulses and flour weighing less than 25 kg.
Chinese phone maker Xiaomi's India unit has been slapped with a Rs 653 crore notice for alleged evasion of import duty, as per an official statement. A show-cause notice has been slapped on Xiaomi India following recovery of documents during searches on its premises that indicated remittance of royalty and licence fee to US and Chinese firms under contractual obligations, the union finance ministry said on Wednesday. Replying to an email query, a Xiaomi spokesperson said, "At Xiaomi India, we give utmost importance to ensuring we comply with all Indian laws.
A BTech and PhD in police, human rights and social justice, Singh joined the federal anti-money laundering investigations agency in 2009 on deputation from Uttar Pradesh where he was serving as a state police service officer.
The 8.1 per cent interest rate was recommended by the Central Board of Trustees after its meeting in Guwahati under the chairmanship of Union Labour and Employment Minister Bhupendra Yadav, a labour ministry press statement said.
The printing of one-rupee notes was discontinued in 1994.
It would be interesting to see how fast the finance ministry allocates money to the state.
This will violate the time-honoured convention that a government elected for a five-year tenure presents only five full Budgets, but the NDA government will no doubt present it as yet another initiative of Mr Modi.
Tells RBI this is not the time to consider such a foray, especially given the lack of funds to spare for such a venture.
This may leave those not opting for any of the two options offered by the Centre before the GST Council meet scheduled for October 5 in the lurch. It is clear from the present situation that these states will have to wait till June 2022 to get their compensation, subject to the council extending the cess collection period beyond June 30, 2022.
While the exact figures of the total number of taxpayers who will be honoured is not known, officials said these numbers would be few lakhs.
The East District Consumer Disputes Redressal Forum made this recommendation while ordering Apollo Munich Health Insurance Co Ltd to pay over Rs 180,000 to a policy holder for not reimbursing his treatment expenses and illegally cancelling his insurance cover after he submitted his claim.
Earlier, finance ministry officials had said sovereign bonds could address the financing problems of the CAD and the infrastructure sector.
The West Bengal state government has delayed project approvals. And now, the IT giants may look at other states as the centre is thinking of giving sops to SEZs
RBI may think twice before agreeing with suggestions of a rate cut.
Industry fears waiver of interest on interest would distort credit culture, may encourage borrowers who can pay to defer repayment.
The preliminary processing of tax returns is already undertaken with the help of technology. There is now greater scope of using more technology to reduce the human interface even further, notes A K Bhattacharya.
Value of rupee is an indication of complete failure of the government to achieve the desired results.
Finance Ministry meets market participants, wants feedback.
The Union finance ministry has kicked off the exercise for preparation of the Union Budget for the fiscal year 2012-13 and has asked all ministries to rush proposals by October 31 for inclusion in the second supplementary budget for 2011-12 to be presented in the winter session of Parliament.
The Union finance ministry has set up a special investigation unit to 'regulate' the funding and donations made to political parties.
North Block hasn't made a bureaucrat out of the chief economic advisor yet
To ensure its financial inclusion drive is not restricted to meeting branch opening targets, the Union finance ministry is to ask banks for a performance report of the 'ultra small' branches set up in the past two years in about 73,000 villages.
Move aimed at speeding up process, checking corruption in funds' transfer.
The Central Sales Tax is imposed by the Centre but revenue goes to the states.
The National Stock Exchange, Bombay Stock Exchange, MCX Stock Exchange and United Stock Exchange have been invited for the August 6 meet.
The Financial Intelligence Unit (FIU), the federal economic snoop agency under the Union finance ministry, sent 289 legal requests to its counterparts across the globe during 2018-19 as compared to 177 in 2017-18 and 138 in 2016-17.
Finance ministry takes up a review of the STT regime after a meeting with stock exchange officials.
As the role of the powers-that-be in the government comes under the scanner, pressure is being mounted on the two ED officers investigating the 2G case from the highest level, particularly the finance ministry.
Budget proposal on CKD tax jolts Audi, Harley-Davidson plans.
A bench of justices G S Singhvi and A G Ganguly asked the CBI to apprise it of their findings on March 15.
Car and sports utility vehicle makers say they're taken aback by the Union finance ministry's proposal to bring locally assembled models into the same duty structure as imported units. They say the move would cripple demand, following a substantial rise in vehicle prices.
In the pre-budget Economic Survey 2010-11, the Union finance ministry made a strong pitch for the pro-growth impact of investment in human capital adding, "fortunately, there is awareness of this in India and efforts are afoot in terms of budgetary allocation and actual initiatives to boost the development of skill and human capital."
TDS has been successfully used for direct taxes like the income tax.
The Union finance ministry has endorsed the views of Gajendra Haldea, infrastructure advisor to the deputy chairman of the Planning Commission, who had objected to recent changes in bidding norms by the National Highways Authority of India.
The government has decided to issue biometric PAN (Permanent Account Number) cards to taxpayers across the country to weed out the problem of duplicate and fake ones.
In a move to help quicken the flagging pace of distribution reforms in the power sector, the Union finance ministry has approved the creation of a Rs 50,000-crore National Electricity Fund - first mooted in the 2008-09 Budget - for attracting investment in this area.
The Union finance ministry has temporarily suspended the facility for e-filing of income tax returns as it could not procure a security certification for the Income Tax Department's website in time.
The Union finance ministry has decided to make two important changes to the ordinance issued on June 18, on jurisdictional conflicts between financial market regulators.
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