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New Delhi, May 23 (PTI) The GST Council is likely to meet soon to discuss rate simplification and rationalisation and the future of compensation cess, according to a source. "There are three or four different aspects relating to making GST simpler. We will take up the issue of compensation cess, rate rationalisation and simplification," the source said. The GST Council, chaired by Union Finance Minister and comprising state counterparts, in its meeting in December last year, did not take up the GoM reports on rate rationalisation and rate reduction in health and life insurance. The two GoMs, which recommended a reduction in rates and providing exemption to certain categories, are yet to submit their final report to the GST council. The GoM on Compensation Cess, headed by Minister of State for Finance Pankaj Chaudhary, is looking into the future of compensation cess beyond March 2026. As of now, the cess is being levied on luxury and sin goods but is being utilised only for paying back loans taken during the COVID to make good the loss to states in GST revenues. GoM is now studying how to retain the revenue from cess in some other form and how it is to be shared between the Centre and the states. PTI JD BAL BAL
Jharkhand supplementary budget: The Jharkhand Assembly on Thursday (December 12) passed the second supplementary budget of Rs 11,697.45 crore for the 2024-25 fiscal year. Following the budget's passage, Speaker Rabindra Nath Mahato adjourned the four-day session of the assembly sine die. Finance Minister Radhakrishna Kishore tabled the second supplementary budget, with the largest allocation of Rs 6,390.55 crore directed to the Women, Child Development, and Social Security Department. This significant funding aims to enhance the government's flagship initiative, the Maiyan Samman Yojana. Und ...Read More >
Mumbai: The Bombay High Court has raised concern over terminally ill prisoners languishing in Maharashtra's jails and asked the state govt to consider proper implementation of an advisory on grant of medical bail or to place them in house arrest. A division bench of Justices Revati Mohite Dere and Prithviraj Chavan on Monday said they visited the Yerwada central prison in Pune on Sunday and met with prisoners, particularly women inmates, and inspected the condition there. The bench referred to a ...Read More >
New Delhi, Jun 5 (PTI) Fintech firm BimaPay Finsure on Thursday said it has entered into corporate insurance financing and aims for Rs 20 crore in premiums in 2025-26. Launching the pilot phase with insurance partners, BimaPay said the initiative will allow businesses to pay premiums in easy equated monthly instalments (EMIs) instead of bearing the burden of full upfront costs. Also Read | Who Is Pinaki Misra? From Age to Family Background and Net Worth, Here's All About BJD Leader With Whom Mahua Moitra Reportedly Married. The company aims to finance over Rs 20 crore worth of premiums by t ...Read More >
Hyderabad: BJP MP and former minister in BRS government Eatala Rajendar spilled the beans before Justice PC Ghose Commission inquiring into the Kaleshwaram project on Friday. The BJP MP told the commission that the three barrages - Medigadda, Annaram and Sundilla were constructed only after the approval of CWC and Technical Committee and as per the recommendations of Cabinet Sub Committee headed by the then Irrigation minister T Harish Rao. Former Chief Minister K Chandrashekhar Rao was the brain behind the Kaleshwaram, the former minister said, adding that the Maharashtra government had opp ...Read More >
Mumbai, Jun 8 (PTI) The Congress on Sunday staged a protest against the Maharashtra government's decision to allot Mother Dairy's land in Kurla for rehabilitating ineligible slum-dwellers who will be displaced by the Dharavi redevelopment project. City Congress president Varsha Gaikwad, who led the demonstration, targeted the state government's decision with a "surrender" barb, alleging that the opposition by local people was ignored. "The market value of this land is in the hundreds of crores, but it is being handed over to Adani at a nominal price," she alleged. The Maharashtra cabinet la ...Read More >
Mumbai, Jun 8 (PTI) The Congress on Sunday staged a protest against the Maharashtra government's decision to allot Mother Dairy's land in Kurla for rehabilitating ineligible slum-dwellers who will be displaced by the Dharavi redevelopment project. City Congress president Varsha Gaikwad, who led the demonstration, targeted the state government's decision with a "surrender" barb, alleging that the opposition by local people was ignored. Also Read | Encroachers Can't Claim Right To Continue Occupying Public Land, Says Delhi High Court. "The market value of this land is in the hundreds of crore ...Read More >
Ludhiana, Jun 8 (PTI) Punjab Congress president Amrinder Singh Raja Warring on Sunday asserted that his party will win the Ludhiana West assembly bypoll, scheduled to be held on june 19, with a "record margin". "Congress practically has no competition here", he claimed. Warring, who is also the Ludhiana MP, said that the ruling Aam Aadmi Party (AAP) was badly mistaken that the Congress would allow it to abuse power and misuse the official machinery for the elections. "First of all, we will not let any misuse of the official machinery and second, in case any official is found to be misusing ...Read More >
Mumbai: Two days ahead of the Maharashtra government formation, top sources have said that Eknath Shinde's Shiv Sena is likely to be allotted eight portfolios including the Urban Development Ministry. Sources also said that Ajit Pawar's NCP will retain the Finance Ministry. Sources have further said that there is no dispute between Shiv Sena and the BJP over the Chief Minister's which is yet to be revealed by the Mahayuti alliance. Meanwhile, reports are doing the rounds that Sena wants swearing in of its ministers on December 5 itself, along with oath taking of Chief Minister and Deputy Chie ...Read More >
New Delhi, Dec 3 (PTI) Finance Minister Nirmala Sitharaman will commence customary pre-Budget consultations with various stakeholders beginning Friday. As part of the process, she will meet eminent economists on December 6 to seek their inputs regarding upcoming Budget amid seven-quarter low GDP print of 5.4 per cent recorded in the second quarter of the current financial year. It will be followed by a meeting with farmer associations and agriculture economists and stakeholders in MSME sector scheduled for December 7, sources said. Union Budget 2025-26 is likely to be tabled in Parliament o ...Read More >
Mumbai, Jun 6 (PTI) The first 'Chhatrapati Shivaji Maharaj Circuit Train Tour' has received overwhelming response as all the seats have been booked ahead of the scheduled departure on June 9, the Indian Railway Catering and Tourism Corporation Limited said on Friday. In a release, IRCTC, a 'Navratna' PSU under the railway ministry, said all 710 seats have been booked in 11 coaches. These comprise 480 in the Economy (Sleeper) category, 190 in Comfort (3AC) and 40 in Superior (2AC), indicating strong interest across travel classes, it added. IRCTC in collaboration with Maharashtra government ...Read More >
New Delhi, Jun 26 (PTI) In a significant enforcement action, the Directorate of Revenue Intelligence (DRI) has seized goods worth Rs 9 crore under 'Operation Deep Manifest', targeting illegal imports of Pakistani-origin goods routed through Dubai. The operation has thus far led to the seizure of 39 containers carrying 1,115 metric tonnes of goods in blatant violation of import policy conditions and prohibitions imposed by the government on direct or indirect import or transit of Pakistani-origin goods, the finance ministry said in a statement on Thursday. One of the partners of an importing ...Read More >
Katra: Prime Minister Narendra Modi visited Jammu and Kashmir on Friday to inaugurate multiple rail projects, including the world's highest Chenab Rail Bridge, the Anji Khad Bridge, and the Katra-Srinagar Vande Bharat Express, as part of the Udhampur-Srinagar-Baramulla Rail Link. These railway projects directly connect Jammu and Kashmir to the rest of the country. The Udhampur-Srinagar-Baramulla Rail Link is an all-weather railway corridor designed to provide seamless connectivity to the region through the rail network. During his visit, PM Modi reviewed the Chenab bridge, world's highest ra ...Read More >
Raipur, June 8 (SocialNews.XYZ) A villager was brutally murdered in Puvarti village, located within the Jagargunda police station area of Sukma district in Chhattisgarh. Puvarti village holds significant strategic importance as it is the native place of Maoist commander Hidma and Battalion 1 chief Deva Barse. The village has produced 22 hardcore Maoists. The attack was allegedly carried out by a group of ten to fifteen Maoists, who ambushed the victim and killed him using sharp weapons, police sources said. The Maoists accused the villager of being a police informant, a charge that has often ...Read More >
Rupee has maintained its position as one of the best performing Asian currencies, despite the ongoing challenges and geopolitical crisis in the Middle East. Pankaj Chaudhary, Minister of State for Finance on Monday said that this stance indicates India's strong economic fundamentals. In a written reply in the Lok Sabha, he mentioned that Rupee's is market-determined, not limited to any target or specific level. He noted that, as of November 19, 2024, the domestic currency had dropped 1.4 percent against the US dollar in the current calendar year (CY) 2024 and decline was primarily driven by ...Read More >
Ranchi, Dec 12 (PTI)The Jharkhand Assembly on Thursday passed the second supplementary budget of Rs 11,697.45 crore for the 2024-25 fiscal. After this, the four-day session of the assembly was adjourned sine die by Speaker Rabindra Nath Mahato. Finance Minister Radhakrishna Kishore tabled the second supplementary budget, allocating a maximum outlay of Rs 6,390.55 crore to the women, child development and social security department to boost the government's flagship scheme Maiyan Samman Yojana. Under this scheme, the state government initially provided Rs 1,000 per month to women between the ...Read More >
Mumbai, Dec 3 (PTI) Maharashtra's caretaker Chief Minister Eknath Shinde on Tuesday visited a private hospital in Thane for a "check-up," two days before a new CM is sworn in at an open ground ceremony in south Mumbai. Even as it is not known yet who would take oath as chief minister at Azad Maidan on the evening of December 5, preparations are in full swing for the ceremony, to be attended by Prime Minister Narendra Modi, about 2,000 VVIPs and some 40,000 supporters. Shinde, who had been staying at his private residence in Thane for the last few days, visited the hospital in the morning. "I ...Read More >
HYDERABAD: Refuting the allegations of the Opposition BRS that the Congress government failed to stop the Andhra Pradesh government's proposed Godavari-Banakacherla project, Irrigation Minister N Uttam Kumar Reddy on Friday declared that "we are ready for any kind of fight" against AP's project. Speaking to reporters here, Uttam said that the state government has already written letters to Jal Shakti Minister CR Patil and Union Finance Minister Nirmala Sitharaman opposing the project. "After our representation, Union Minister CR Patil in a letter assured us that the G-B project will be exami ...Read More >
Chandigarh, Jun 8 (PTI) Punjab BJP president Sunil Jakhar on Sunday said all Akali factions should set aside their "egos" and differences and unite, asserting that a strong 'panthic' party is required not only for the state but also for the nation. He asserted that that would be a "true tribute" to veteran Akali leader and former union minister Sukhdev Singh Dhindsa. Also Read | Bodoland Lottery Result Today, June 8, 2025: Assam State Lottery Sambad Sunday Lucky Draw Results Declared, Check Winners List With Ticket Numbers. Dhindsa died on May 28 following age-related health issues at a pri ...Read More >
New Delhi, Dec 13 (PTI) Brookfield India Real Estate Trust has raised Rs 3,500 crore by selling units to institutional investors through QIP issue mainly to reduce debt. In a regulatory filing on Friday, the company said it has successfully completed a capital raise of Rs 3,500 crore through a qualified institutional placement (QIP) of units. The issue was launched on December 9. Also Read | Kolkata Fatafat Result Today: Kolkata FF Result for December 13, 2024 Declared, Check Winning Numbers and Result Chart of Satta Matka-Type Lottery Game. The issue saw strong demand from long-term invest ...Read More >
New Delhi, Jan 21 (PTI) Congress leader Rahul Gandhi on Tuesday hit out at the Modi government over its economic policies and asserted that real development is when everyone progresses, there is a fair environment for business, a fair tax system and the income of workers increases. In a post in Hindi on X, Gandhi said, "The truth of Modi Ji's developed India: Your hard work, whose profit? The wheel of the country's economy is turning with your sweat and blood, but are you getting your fair share in it? Just think." The share of the manufacturing sector in the economy has gone down to the lowe ...Read More >
New Delhi: The GST Council will soon decide on having fewer and lower rates as the review work is almost complete, Finance Minister Nirmala Sitharaman said on Tuesday. Currently, Goods and Services Tax (GST) is a four-tier tax structure with slabs at 5, 12, 18 and 28 per cent. Luxury and demerit goods are taxed at the highest bracket of 28 per cent, while packed food and essential items are in the lowest 5 per cent slab. The Council, chaired by Sitharaman and comprising her state counterparts, has set up a group of ministers (GoM) to suggest changes in GST rates as well as reduce slabs. "To ...Read More >
New Delhi, Jun 5 (PTI) Moody's Ratings will consider India-Pakistan conflict while evaluating India's rating, a source said. Representatives from the US-based rating agency on Thursday met India's finance ministry officials. Moody's currently has the lowest investment grade rating for India at "Baa3" with a stable outlook. "The rating agency will consider India-Pakistan conflict in its sovereign rating assessment," a source said. Last month, Moody's had said escalation of tensions between India and Pakistan will not have any major economic disruption in the country, but will be a setback f ...Read More >
New Delhi, Jun 7 (PTI) RBI Deputy Governor T Rabi Sankar has been appointed as a part-time member of the 16th Finance Commission, the finance ministry said on Saturday. The appointment, the ministry said, is consequent to the resignation of one of the full-time members, former finance secretary Ajay Narayan Jha, on personal grounds. "The President has appointed T Rabi Sankar, Deputy Governor, Reserve Bank of India (RBI), as a part-time Member of the 16th Finance Commission (XVIFC)," the ministry said in a statement. Sankar will hold office from the date of assuming charge until the submissi ...Read More >
New Delhi, June 7 (PTI) The Director General of GST Intelligence has closed pre-show cause notice proceedings against Infosys for financial years 2018-19 to 2021-22, involving a GST amount of Rs 32,403 crore, the company said in a statutory filing. With the receipt of the communication from DGGI, "this matter stands closed", India's second-largest IT company Infosys said. "In continuation to our earlier communications on July 31, 2024; August 1, 2024, and August 3, 2024, on GST, this is to inform that the company has today received a communication from the Director General of GST Intelligenc ...Read More >
New Delhi, Dec 12 (PTI) Gross non-performing assets (NPAs) of public sector banks (PSBs) have declined to a decade low of 3.12 per cent at the end of September 2024 from a peak of 14.98 per cent in March 2018 on the back of measures like the 4Rs -- recognition, recapitalisation, resolution, and reform -- taken by the government, the finance ministry said on Thursday. Since 2015, the government implemented a comprehensive 4Rs strategy of recognising NPAs transparently, resolution and recovery, recapitalising PSBs, and reforms in the financial system to address the challenges faced by PSBs, it ...Read More >
Lucknow: Days after the chairman of 16th Finance Commission Arvind Panagariya said that Uttar Pradesh, like many other states, had demanded increase in state's share from existing 41% to 50%, state finance minister Suresh Khanna said that such a demand has been raised by other states too and it is justified as UP has being doing better on several parameters.The UP govt's thrust before the 16th Finance Commission was on UP's share in central taxes which should be 20.47% against 17.93% it got in 15th Finance Commission, the finance minister told TOI.Sources said that even if UP does not get the ...Read More >
New Delhi: The second match of the five-match Test series between India and England will be played at Edgbaston in Birmingham. It will start on July 2. In this Test, Shubman Gill has a chance to create history. Actually, the Indian team has not been able to win on this ground so far. Team India played the first match on this ground in 1967. Be it Virat Kohli or Dhoni or Dravid or Sourav Ganguly, no Indian captain has won here in 58 years. However, Gill will have a chance to get his name registered in the history books. If he manages to end the drought of 58 years, he will become the first Indi ...Read More >
Adani Ports, Adani Enterprises, Shriram Finance, UltraTech Cement, and Cipla were the top gainers on the Nifty. Benchmark indices Nifty and Sensex extended morning gains driven by strength in public sector banks ahead of the RBI MPC meet outcome on Friday. Heavyweight stocks like HDFC Bank and Reliance Industries also contributed to the rally on December 3. Broader markets also showed strength with mid- and small-cap indices rising 0.7 percent each. At noon, the Sensex was up 538.04 points or 0.67 percent at 80,786.12, and the Nifty was up 153.45 points or 0.63 percent at 24,429.50. About 2, ...Read More >
Bengaluru, Dec 3 (PTI) The Karnataka High Court on Tuesday quashed a criminal case registered against former state BJP president Nalin Kumar Kateel for allegedly extorting money and pressuring business entities to buy electoral bonds. Justice M Nagaprasanna passed the order while allowing the petition filed by Kateel. Also Read | CII Partnership Summit 2024: S Jaishankar Calls for Stronger Global Partnerships as India Faces Growing Challenges. The FIR was registered by the Bengaluru police based on a complaint lodged by Adarsh R Iyer, a city-based activist. The FIR was also registered agai ...Read More >
Mumbai, Feb 7 (PTI) Reserve Bank Governor Sanjay Malhotra on Friday said India can certainly achieve over 7 per cent growth rate and the nation should aspire for that. The Reserve Bank of India (RBI) in its bi-monthly monetary policy has projected 6.7 per cent growth for financial year 2025-26, up from 6.4 per cent estimated for the current fiscal. "I would like to stick my neck out and say that, certainly India can achieve a 7 per cent and plus growth rate. We should certainly aspire for that," he said when asked whether there was a possibility of the Indian economy growing at a faster pace ...Read More >