Keyword : Finance Ministry

Govt has shut doors on info-flow

The Indian government has never known to be information-friendly and now it is tightening the lid over info-flow by putting its own officials in cages with wide-ranging gag orders. R

Simplified income tax return forms are less tedious

A chastened government has introduced simplified and shorter income tax return forms after dumping intrusively long ITRs. The government has also extended the last date for filing of returns by a m

Budget in the making: Govt committed to prudent fiscal policies and unveiling of road map for next few years

With union budget in sight and calls for deferring fiscal consolidation becoming louder, the finance ministry today made it clear that the government is committed to promoting and strengthening inc

Finance ministry sacks 72 tax officers

 For the first time, the finance ministry has fired 72 tax officers, besides prematurely retiring another 33 for non-performance and on disciplinary grounds in the last two years. Th

No separate guidelines for JVs of defence PSUs

 The government has decided to end existing guidelines for establishing joint venture (JV) companies by defence public sector undertakings (PSUs). The cabinet’s decision will provide a l

“We cannot afford to do business with black money”

How is the response to the IDS? The response has been good. A number of declarations have come and there have been a large number of inquiries too.

Time to end the marriage of bad money and bad politics

Black money is essentially a popular name for black economy. By now it has ‘evolved’ into a grey, that is an indistinguishable mixture of black (i.e., illegal-immoral) and white (i.e.,

Railway budget is history. Here’s the rationale behind ‘budget reforms’

Doing away with yet another long-standing tradition, the cabinet has decided to do away with the

“But for black economy, each one of us would have been seven times richer”

What do the income disclosure or amnesty schemes reflect on the government? What it suggests is that the government under the normal schemes is not able to take care

Government wants to roll out GST by April 1, 2017: Jaitley

Finance Minister Arun Jaitley on Friday said that the government is working on a target date of April 1, 2017 for the roll out of the Goods and Services Tax (GST) in the country. He

The road not taken

In May 2014, a committee headed by PJ Nayak, former chairman and CEO of Axis Bank, came out with a report that laid out a roadmap for setting public sector banks (PSBs) free from the government&rsq

All you wanted to know about Income Declaration Scheme*

Black money, since the colonial times, has been the elephant in the room: it is everywhere and yet rarely talked about. In recent years, however, the middle class has become more strident i

Exchanging notes

Reasons given for demonetisation   To control counterfeit notes that could contribute to terrorism To undermine or eliminate black econom

Long-pending interviews for top posts at PSU insurers conducted

After a long wait, the finance ministry has completed the interview process to select two managing directors of LIC and the heads of three general insurance companies, United India Insurance, Orien

Reverse Bank of India

 The Reserve Bank of India on Wednesday withdrew its order of December 19 which had stipulated that the demonetised currency notes could be deposited only once in the quantum of Rs 5,000 or mo

PSU stake sale: SEBI to be urged to extend deadline

  The finance ministry may approach the Securities and Exchange Board of India (Sebi) to relax its August 21 deadline for PSUs to meet minimum 25 percent public shareholding requ

One UPA idea NDA is not pursuing: women’s bank

NDA has smartly appropriated a slew of UPA initiatives that it had opposed when in the opposition – from Aadhaar to DBT and financial inclusion. However, here is one initiative the government

Clean Money: Yet another follow-up to make the most of demo

Trying to make the most of the demonetisation drive, the government has taken yet another follow-up step and launched an Operation Clean Portal. Its aim is to “enable citizen engagement for c

“How can an insurance firm promote death?”

Dr Pankaj Chaturvedi, a head and neck cancer surgeon at the Tata Memorial hospital in Mumbai, is a leading anti-tobacco activist. He joined hands with Sumitra Hooda Pednekar and others to file

How you can have the best seat in a dream course in economics

If you want to learn more about the Indian economy, you can’t get a better chance than this. Arvind Subramanian, the chief economic advisor to the government of India and otherwise a teache

On DeMo, yet another goal post change

Some think there is only one way to score a bull’s eye, by hitting the bull’s eye. Then there are creative souls, who first shoot, and then draw a bull’s eye around the

Finance ministry ropes in EESL for energy saving

 In its bid to bring down energy consumption by old government buildings that consume huge amount of power, the ministry of finance has asked central government establishments to install energ

Let’s make the budget more meaningful

Cloaked in obsessive secrecy, our budget process is rooted in our colonial past. By a single document, the government tries to lay down the roadmap of the economy for the coming financial year. I

Key recommendations for Budget 2018 for better healthcare

In India public sector accounts for only 30 percent of the total healthcare expenditure and investment in building and maintaining public health infrastructure needs priority in the upcoming budget

10 things people expect from budget 2018

When finance minister Arun Jaitley rises to present the union budget 2018 in parliament on Thursday, most Indians will be hoping that he leaves them with more money in their pockets. &nbs

Rs 171.15 crore was revenue in India’s first budget

India’s first budget was presented by RK Shanmukham Chetty, minister of finance, on November 26, 1947.   Here are the key highlights of the budget for the y

Budget 2018: Railways expect more funds for safety

Ahead of the union budget 2018-19, Indian railways is hoping to get adequate funds to strengthen safety and introduce modern signaling system for its gigantic rail network of over 65,000 kms. 

Health budget just one-third of the 2025 target

In the union budget for 2018-19, some big announcements have been made especially for the health sector but not supported by corresponding budgetary allocations. While, on the one hand, allocations

How transparent is our budget?

The ideas of ‘good governance’ and ‘budget transparency’ are intricately related where one practice often influences the other. Over the past few years, the importance of tr

GST: Minor shortfall in central government revenue

There is a minor shortfall in central government’s revenue following the implementation of GST, finance minister Arun Jaitley informed parliament.   He said that at

In the age of RTI, black money info goes inside a black hole

During his reply on the Motion of Thanks to the Address of the President of India, in the Lok Sabha on February 7, prime minister Narendra Modi compared his government`s efforts to curb corruption

Finance ministry ropes in NBCC to build houses for officers

Department of Economic Affairs (DEA) and National Buildings Construction Corporation Ltd (NBCC) have signed an agreement for the construction of housing project for Indian Economic Service (IES) of

Breaking down some key terms used in budget

The central government is set to present a complex and comprehensive report of its revenues and expenditures throughout the financial year in the budget address on February 1. Modi led NDA governme

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