The Financial Sector Regulatory Appointments Search Committee (FSRASC), headed by the cabinet secretary, is free to identify and recommend any other person too, who has not applied for the post, based on merit.
In order to ensure liquidity for small businesses, Sitharaman said banks have been asked to provide bill discounting facility to the MSME sector against payments due from the large corporates
A group of ministers headed by Home Minister Amit Shah has approved a revival plan proposed by the DoT.
In September, GST collections dropped sharply to a 19-month low of Rs 91,916 crore, mirroring a widening slowdown in the economy triggered by shrinking consumer demand.
The offers lined up so far barely move the needle
The move is especially expected to benefit small savers and senior citizens
"We are working on debt ETFs. If it is not launched in this (financial) year, it will be launched in FY21," said a Finance Ministry official on condition of anonymity.
The expected pick up in growth may help in meeting the fiscal deficit gap.
The decision to remove 5 per cent customs duty will help reduce manufacturing cost by around 3 per cent but it wasn't immediately clear if all TV makers will pass on the benefit to consumers.
The blueprint of the revival package likely to be announced in the next few days is ready, the official said without giving further details.
Inflation rate in cereals and products stood remained unchanged at 1.3 percent while vegetables inflation stood at 6.90 percent in August versus 2.82 percent in July.
The meeting was chaired by Atanu Chakraborty, Secretary, Department of Economic Affairs and GC Murmu, Expenditure Secretary.
The real estate sector is facing multi-year slowdown in demand due to various reasons including tight liquidity situation, default by many builders and elevated level of prices
Most vocational or professional training programmes are already expensive
Foreign investors pulled out over Rs 30,000 cr from the equities during July-August after govt levied the tax surcharge on FPIs.
India's gross domestic product (GDP) grew 5 percent in April-June 2019, official data released on August 30 showed, buffeted by weak household spending and muted corporate investment. GDP growth was 8 percent in the same quarter of 2018-19.
GST revenue collection came in at a six-month low of Rs 98,202 crore in August.
The committee submitted its report to finance minister Nirmala Sitharaman on September 2.
In her maiden Budget speech, finance minister Nirmala Sitharaman announced the proposal to issue offshore sovereign bonds, starting from the current fiscal year. “India’s sovereign external debt to GDP is among the lowest globally at less than 5 percent.
Expressing optimism about the state of economy, Sitharaman said India's growth still much higher than global growth.
SEBI Chairman Ajay Tyagi said that there are some aspects on the issue that need to be further examined.
The development comes after multiple instances of deposit frauds post demonetisation, especially into Jan Dhan accounts and is in line with the finance minister budget announcement
The move comes on the heels of a 20 percent tax on share buybacks imposed by the Finance Ministry in Budget 2019 and is apparently aimed at providing a correct picture of companies’ leverage status.
The task force, headed by Akhilesh Ranjan, Member (Legislation), Central Board of Direct Taxes, was scheduled to submit its report by May. However, it got an extension of two-three months.
The task force was supposed to submit its report by May 31, but the then finance minister Arun Jaitley gave two months extension to complete the exercise.