As per the current medium-term fiscal policy, which is part of the 2019-20 interim budget, the fiscal deficit target for 2019-20 is 3.4 per cent, and 3 per cent for both 2020-21 and 2021-22
The Finance Minister said the Government was trying to reduce GST burden on homebuyers, but the jury is still out on what the GoM may come up with as its recommendations.
Addressing the Central Board of Indirect Taxes (CBIC) officers on the occasion of International Customs Day, Goyal asked the tax officers to consider crowdsourcing of feedback from stakeholders as to what more could be done towards adopting a taxpayer friendly approach by the department.
Goyal, who has been given an additional charge of the finance ministry on Wednesday in the absence of Arun Jaitley, is scheduled to meet chiefs of the state-owned banks on Monday to review financial performance of the banks.
A list of important headlines from across news agencies that could help in your trade today.
A week before the budget, start watching sectoral movements. Zero in on liquid sectors (Nifty, Bank Nifty and Nifty IT as on date) that are witnessing voluminous buying with the rise in prices
A finance ministry spokesman confirmed the report and said Jaitley was expected to be back by the weekend.
Responding to criticism over surprise resignation of Patel as RBI Governor earlier this month, he said there were cordial discussions at the meeting of the RBI board over issues such as the appropriate size of reserves the central bank must hold.
According to government estimates, this would cost Centre close to Rs 2,840 crore in FY20.
While the markets regulator, the competition watchdog and the insurance regulator all have a tribunal for appeals, some, including the central bank, do not have one.
Unless the country has data which are reliable, which would be worth fighting over, bickering senior ministers are missing the wood for the trees.
In his Budget speech for 2016-17, then Finance Minister Arun Jaitley had said the process of transformation of IDBI Bank has already started. "Government will take it forward and also consider the option of reducing its stake to below 50 percent," he had said.
Money parked by Indians in Swiss banks rose over 50 per cent to CHF 1.01 billion (Rs 7,000 crore) in 2017, reversing a three-year downward trend amid India's clampdown on suspected black money stashed there.
In all heads of 13 PSBs will participate in the meeting to discuss the way forward for the Indian Banking system, they said.
Finance minister Arun Jaitley said No cut in excise duty on oil. Asks to pay the TAXES honestly.
"As far as the law is concerned, the law of the land will take its own course and the processes are already going on – both internally in ICICI Bank and externally, which will come out with their findings," Goyal told reporter here today.
Jaitley, however, did not go to his office after the 90-minute meeting of the Cabinet at the residence of Prime Minister Narendra Modi.
A decision on return simplification could be on the cards with the Sushil Modi-led Group of Ministers putting before the Council the three models of new return form for discussion, an official said. With Jaitley been advised by doctors to stay in isolation to avoid contracting infection, the meeting has been planned through video conferencing.
Rajya Sabha Chairman M Venkaiah Naidu yesterday rejected the impeachment notice given by opposition parties led by the Congress against CJI Dipak Misra, saying it lacked substantial merit and the allegations were neither "tenable nor admissible".
Jaitley, 65, who has skipped office since Monday and even oath of office after being re-elected to the Rajya Sabha, was taken to AIIMS for diagonostic tests, sources close to the minister and doctors in AIIMS said.
Ask resolution professional to make sure an amount of Rs 4000 crore is deposited in an escrow account to complete ongoing projects latest by December 2019
"The way the situation in the world is changing there is a great opportunity that has come in the way of India. The world keep facing its challenges and (in) the last few years India has started leaving its footprints behind.
Finance Minister Arun Jaitley has ruled out advancing the Lok Sabha elections
"India has a serious challenge in terms of compliances. India has a serious challenge in term of increasing the tax base and therefore if you analyse the sum total of my last 4-5 budgets that I have presented, systematically to the smaller taxpayer I have given relief almost in every Budget," he said.
FM Arun Jaitley has presented the Union Budget for 2018-19 in Parliament. The Budget was perceived as favouring the rural populace but wasn't very well received by financial markets.