Nirmala Sitharaman has a very different personality, knowledge endowment, skill-set and approach for economic policy issues and it became quite apparent very early, that working with her was going to be quite difficult, the former finance secretary wrote in a blog
The Commission’s recommendations will reflect in the Modi government’s 2021-22 Union Budget. The Finance Minister is likely to table the Commission’s report, and an action taken report signifying which recommendations of the Commission have been accepted, along with the budget documents.
The fiscal deficit or gap between the expenditure and revenue had breached the annual target in July this year.
The fourth set of stimulus measures could include an infrastructure push with focus on urban projects, sectoral intervention for sectors like hospitality and tourism, and extension of the PLI scheme to more sectors
Who is eligible to avail the compound interest waiver scheme?
It will be the third Budget of the Modi 2.0 government and Finance Minister Nirmala Sitharaman. Budget 2021-22 is likely to be presented on February 1.
India is close to drawing up rules for companies to directly float overseas without first having to list shares at home, as a way to help startups attain higher valuations and access capital more easily.
In the Budget for 2019-20 (Apr-Mar), finance minister Nirmala Sitharaman had proposed issuing sovereign bonds overseas to raise a part of the government's market borrowing. In Budget for 2020-21, the government announced plans to include Indian government securities on global bond indices
The Centre's insistence to not term the borrowing issue as a dispute is primarily based on concerns that states might then use it to push for a dispute resolution mechanism
The Centre's CAPEX is budgeted at Rs 4.13 lakh crore for FY21. On October 12, the finance ministry announced an additional budget of Rs 25,000 crore.
The government also announced an additional budget of Rs 25,000 crore, which would be provided for capital expenditure of Centre on roads, defence, infrastructure, water supply, urban development and domestically produced capital equipment
Under this LTC Cash Voucher Scheme, government employees can opt to receive cash amounting to leave encashment, plus three times ticket fare, to buy items which attract a GST of 12 percent or more.
E-invoicing is currently mandated for the businesses having annual turnover more than Rs 500 crore.
The RBI’s decision to purchase state bonds in the secondary market through open market operations will provide a boost to the states’ finances at a time when they, just like the centre, are having to deal with a massive revenue crunch and rising expenditure commitments
The scheme is the biggest fiscal component of the Rs 20-lakh crore Aatmanirbhar Bharat Abhiyan package announced by Finance Minister Nirmala Sitharaman in May to mitigate the distress caused by lockdown due to COVID-19 by providing credit to different sectors, especially micro, small and medium enterprises (MSMEs).
The government is yet to appoint book running lead managers and legal advisors. An embedded value has to be decided, the insurer has to pare its stake in a number of other listed companies and has to tweak its balance sheets to comply with regulations, and the LIC Act has to be amended in Parliament.
At the beginning of the 42nd GST Council meeting, the Centre was confident that it had the numbers to have a favourable result on the borrowing options. However, things changed during the discussions, and the government officials were soon found to be trying to force the meeting to a close
The government is considering relief measures for sectors which have been the worst-hit by the COVID-19 pandemic, Principal Economic Advisor Sanjeev Sanyal said in an exclusive interview. He said there may be a case of positive GDP growth in Q4 FY21 and a substantial uptick in FY22 due to a low base effect
Moneycontrol takes a look at the work and fields of research of Ashima Goyal, Shashanka Bhide and Jayanth Verma
With regards to the members of MPC, the RBI Act states that a person cannot be in the panel if they have a material conflict of interest with the RBI and are unable to resolve such conflict.
Small taxpayers having aggregate annual turnover of less than Rs 5 crore will be able to file returns on a quarterly basis with monthly payments from January 1, 2021
The report said data for the 14-day period from September 17 to 30 suggests that India may have crossed the peak of COVID-19 caseload.
India seems to have crossed the peak in COVID-19 cases, as per available data, the Finance Ministry's Monthly Economic Report for September said.
Pre-Budget meetings will begin from October 16 and will continue till the first week of November.
Finance Minister Nirmala Sitharaman has assured repeatedly that there will be no compromise on capital expenditure by the centre and the state-owned companies. However, data showed that the centre’s capital expenditure of Rs 22,598 crore in August was the lowest among all months so far this year