Sapna Das

CBEC to be renamed as CBIC

FM approves the re-organisation of the field formations of the Central Board of Excise & Customs for the implementation of goods & services tax. The CBEC is being renamed AS the Central Board of Indirect Taxes & Customs after getting legislative approval. Sapna Das of CNBC-TV18 has more details.

Government to inject Rs 8000 cr more in cash-starved PSBs

The government is looking to inject an additional Rs 8,000 crore into the cash-starved public sector banks by the end of this financial year, reports CNBC-TV18.

Government may announce new mechanism to replace FIPB soon

The government is moving ahead with its plan to wind up the Foreign Investment Promotion Board and it may announce a new mechanism to replace the FIPB, as early as April this year.

Budget 2017: Fiscal deviation needed to push development, says Finance Secy

CNBC-TV18‘s Sapna Das spoke to Secretary of Finance, Ashok Lavasa wherein he gave the reason for the deviation in the fiscal number to 3.2%.

Govt releases draft GST law; to be taken up in Parliament in Dec

The revised draft includes provisions of anti-profiteering measures, which will protect consumers under the GST regime from any possible price surge.

GST Bill proposes new anti-profiteering measure: Sources

Quoting sources, Sapna Das of CNBC-TV18 reports that the proposed authority may also prescribe penalty against profiteering.

Govt may levy commodity-wise rate slab for GST compensation cess

The government may levy a proposed Goods and Services Tax (GST) compensation cess commodity-wise in a rate slab, according to an official privy to the GST Council meeting which is underway, reports CNBC-TV18‘s Sapna Das.

Cabinet likely to form GST Council today

Following the President's assent to constitutional amendment enabling the rollout of the Goods and Services Tax Bill, the Union Cabinet is likely to take up the constitution of the GST Council in its meeting on Monday, reports CNBC-TV18‘s Sapna Das.

GST Agenda Council likely to be formed by mid-September

Once the President‘s nod comes for the GST Constituional Amendment Bill, which was passed the Parliament in August this year, the Cabinet will move towards forming the agenda council. The President‘s nod for the bill is expected to come in by next week.

FY18 Budget likely to have estimate on GST compensation

The Bill is likely to be implemented from April 1, 2017, and revenue loss in FY18 is indicated to be less than Rs 30,000 crore with GST rate at 18 percent, reports CNBC-TV18's Sapna Das.

Banks may set up 2 stressed asset funds: Sources

The proposal made on May 16 included setting up two stressed asset funds instead of one special situations fund. In the two-fold exercise, funds can be Stressed Assets Equity Fund (SAEF) and Stressed Asset Lending Fund (SALF).

Centre may divest stake in general insurance cos: Sources

As per sources, the government plans to bring down stake in general insurance companies to 25 percent and it will initiate stake sale with 10 percent dilution.

Centre bats for sub-20% GST RNR; no consensus among panel

A panel, headed by Chief Economic Adviser Arvind Subramanian, was set up in June this year to set a RNR.

Govt mulling AP Shah report on MAT; to decide soon

CNBC-TV18 has learnt that the government which is considering Justice AP Shah committee's report on minimum alternate tax (MAT), is going to take a final decision on the same soon.

Agri crisis likely to drag FY15 GDP below 7.4% target

Fiscal year 2014-15 gross domestic product (GDP) growth rate, due at 5.30 pm this evening, may came in slightly lower than the government's advance estimate of 7.4 percent.

Govt must step up divestment: NIPFP

The Budget speech is likely to highlight the govt‘s decision to give states a higher share of taxes to reset centre state relations. The govt says the move will help provide an economic lift to states, economists believe the centre will find itself constrained to spend big money to pump prime the economy. Sapna Das spoke with NIPFP Director.

FM confident of achieving fiscal deficit target of 4.1%

As finance minister rises to present his second Budget, his message will be clear - the government will stick to its commitment to pursue the path of fiscal consolidation. This budget may also end up being a 'Make in India Budget' with the government announcing definitive steps to boost manufacturing.

Food, fertliser tough issues; FY16 Budget to be tight

According to CNBC-TV18‘s Sapna Das, the expenditure estimates are routinely put out by the finance ministry once a year. This is a mandate under the FRBM Act. However, the numbers pertaining to petroleum subsidy is revealing. On the other hand there is some kind of a pressure that is evident for fertiliser and food.

Govt prepares 4-year blueprint for fund infusion in PSBs

As per the blueprint, infusion will vary from Rs 44,000 crore to Rs 58,000 crore over the stipulated time span.