President Donald Trump today said the US needs a "good shutdown" in September to fix a "mess" in the Senate, expressing frustration over the hurdles posed by the Democratic party in passing the budget proposed by him.
The Budget session of parliament came to an end today, with both houses being adjourned sine die. However the session itself has been one of the most eventful sessions so far, with significant forward movement on several crucial legislations. CNBC-TV18's Rituparna Bhuyan and Areeb Sherwani give a wrap up the session.
Finance Minister Arun Jaitley today received a pat from President Pranab Mukherjee for completing the budget exercise by March 31 and not seeking a the Vote on Account, which happened for the first time in many years.
Foreign brokerage HSBC today said despite financial support from the Centre, Indian state governments' fiscal deficit widened more than budgeted and the gap will remain at the elevated level in 2017-18.
The BJP's decision not to contest the elections for the posts of Mayor and Deputy Mayor in the Brihanmumbai Municipal Corporation (BMC), where it won just two seats less than the Sena in the just-concluded Mumbai civic polls, is likely to ease strains in relations between the two saffron parties.
As NPAs of public sector banks soared to a staggering Rs 6.8 lakh crore, the chairman of a key Parliamentary panel today favoured naming and shaming corporate houses which default on repayment of bank loans.
The CSO, which released the quarterly GDP figures today, has been barred by the Election Commission from releasing any state-specific data during the ongoing assembly elections lest it should influence voting pattern.
The fiscal deficit for April top January period came at 5.64 lakh crore as against Rs 5.32 lakh crore year-on-year (YoY). The fiscal deficit for the period is 105.7 percent of the FY17 Budget estimate.
Amid signs of slide in consumer goods sales and muted investment activity because of the cash crunch, it is highly likely that the CSO will sharply revise downwards Indias GDP growth in its second advance estimates.
Sebi wants more clarity on imposition of 10 percent Long Term Capital Gains (LTCG) tax proposed in the Union Budget, Chairman U K Sinha said today while asserting that the regulator would not allow market manipulation by those abusing tax exemptions.
"The government has expressed its decision to adopt the path of fiscal rectitude. Thus the previous government borrowings figure of Rs 5.80 lakh crore has been pared to Rs 3.48 lakh crore. This leaves of a gap of more than Rs two lakh crore," SEBI wholetime member G Mahalingam said at an Assocham seminar here today.
Finance Minister Arun Jaitley today said Sebi is evolving as per the requirements of the economy and markets as a professional organisation, as he discussed his Budget initiatives with the markets regulator.
Enraged by his "raincoat jibe" against Manmohan Singh, Congress today announced that it will boycott Prime Minister Narendra Modi in Parliament during the entire budget session and will try to bring on board other opposition parties too.