Ruchika Chitravanshi
Ruchika Chitravanshi
Page 35 - Ruchika Chitravanshi
Govt seeks Rs 78k cr cash outgo in second supplementary demand for grants
The second tranche of supplementary grants by various departments and ministries includes Rs 10,798 crore expenditure towards Mahatma Gandhi National Rural Guarantee Scheme (MGNREGS)
 "Govt seeks Rs 78k cr cash outgo in second supplementary demand for grants")
IBBI allows same RP for company and personal guarantor insolvency
The modifications to the IBBI - Bankruptcy Process for Personal Guarantors to Corporate Debtors, Regulations 2019, took effect from January 31
 "IBBI allows same RP for company and personal guarantor insolvency")
We're on course to reaching inflation target of 4% in FY25: CEA Nageswaran
Our potential growth rate is somewhere between 6.5 and 6.8 per cent and it is not 6 per cent as the international agencies used to estimate, he says
 "We're on course to reaching inflation target of 4% in FY25: CEA Nageswaran")
Tax buoyancy cannot continue year after year, says DEA secy Ajay Seth
Economic Affairs Secretary Ajay Seth spoke on the government's thinking behind the major budget projections and the fiscal math
 "Tax buoyancy cannot continue year after year, says DEA secy Ajay Seth")
It's not priority of govt to monitor consumption: Finance secretary
He says why the Budget numbers are realistic and speaks of the evolving approach of the government towards disinvestment, welfare schemes, and capital expenditure
 "It's not priority of govt to monitor consumption: Finance secretary")
Budget: Tax devolution to states seen at 32%, but lags 15th FC advice
The final report of the 15th Finance Commission had recommended the transfer of 41 per cent to the states after Jammu and Kashmir was carved out into two union territories
 "Budget: Tax devolution to states seen at 32%, but lags 15th FC advice")
Governance, development, performance key themes for Budget 2024-25: FM
We're not just aligning with fiscal consolidation path but bettering it: FM
 "Governance, development, performance key themes for Budget 2024-25: FM")
At Rs 9.82 trillion, April-Dec fiscal deficit 55% of govt's annual target
The fiscal deficit was marginally lower at Rs 9.9 trillion, recorded during the corresponding period last year
 "At Rs 9.82 trillion, April-Dec fiscal deficit 55% of govt's annual target")
Govt appoints 3 full-time, 1 part-time member of 16th Finance Commission
The Finance Commission is a constitutionally mandated body established once every 5 yrs to devise a formula for distributing net tax proceeds between the Centre and the states
 "Govt appoints 3 full-time, 1 part-time member of 16th Finance Commission")
IMF raises India's GDP growth projection for FY25 by 20 bps to 6.5%
But estimate falls below FinMin's 7% projection
 "IMF raises India's GDP growth projection for FY25 by 20 bps to 6.5%")
FY25 likely to see 7% growth: Finance ministry ahead of Interim Budget
Review report flags elevated risk of geopolitical conflicts only area of concern
 "FY25 likely to see 7% growth: Finance ministry ahead of Interim Budget")
Interim Budget 2024: T V Somanathan to Ajay Seth, meet the FM's crack squad
Sitharaman is backed by a strong team of bureaucrats and economists, who will chart the future strategy in the upcoming Budget
 "Interim Budget 2024: T V Somanathan to Ajay Seth, meet the FM's crack squad")
Har Ghar Jal initiative: Can some states come in the way of 100% coverage?
The Jal Shakti ministry's data shows the target is within striking distance: 73.57 per cent of the households have already been covered by this flagship scheme of the Narendra Modi government
 "Har Ghar Jal initiative: Can some states come in the way of 100% coverage?")
Interim Budget: Govt policies to focus on four priority groups, says FM
Country self-sufficient in face of global challenges like the Red Sea crisis, she says
 "Interim Budget: Govt policies to focus on four priority groups, says FM")
Auditors must do basic groundwork, not rely too much on AI: NFRA Chairman
If one reads the Companies Act, Code of Ethics, and Standards of Audit and Quality Control in a harmonious manner, then one would not have any confusion about definition of non-audit services, he said
 "Auditors must do basic groundwork, not rely too much on AI: NFRA Chairman")
Striking balance: CCI may tailor penalties for global corporations
The base penalty would be calculated on a company's relevant turnover, which is the turnover related to the product or service infringing on the law in the domestic market
 "Striking balance: CCI may tailor penalties for global corporations")
Central governments show fiscal prudence in Lok Sabha election years
Emkay Research study shows fiscal deficit trend much healthier than in FY19
 "Central governments show fiscal prudence in Lok Sabha election years")
Highest ever tally: Over 141K firms incorporated in FY24 so far, shows data
Official sources said that this was indicative of increased economic activity in the country
 "Highest ever tally: Over 141K firms incorporated in FY24 so far, shows data")
Cabinet nod for three officer-level posts for 16th Finance Commission
The three posts include two posts of Joint Secretary and one post of Economic Adviser
 "Cabinet nod for three officer-level posts for 16th Finance Commission")
67% of ongoing corporate insolvency resolution cases cross 270-day timeline
Although IBC leaves little room for interference, objections by erstwhile promoters or the suspended board of corporate debtor, competing resolution applicants, and dissatisfied creditors are many
 "67% of ongoing corporate insolvency resolution cases cross 270-day timeline")