Business Standard's opinion pages this week focused on Indian economy's future, tax exemptions, Data Protection Bill, and much more

BS Views of the week: Economy's future, tax exemptions, old pension scheme, and more

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The Delhi government will soon introduce a new liquor policy with a high-level committee reviewing the policies of different states and preparing a proposal by June 30, officials said.
The objective is to provide quality liquor to the people and to make the system of liquor sale and distribution transparent, modern and accountable, said an official statement.
The government will also ensure that no aspect of the policy adversely affects vulnerable sections of society and that the safety and health of the weaker sections are not compromised, it added.
A high-level committee headed by Chief Secretary Dharmendra Kumar is drafting this policy, and it is reviewing the excise policies of several other states for the same.
The policy will include points on scientific testing of liquor quality, digitalisation of the sales system, prevention of illegal sales and ensuring transparency in the licensing process, the press note said.
Learning from past mistakes, Chief Minister Rekha Gupta said

The objective is to provide quality liquor to the people and to make the system of liquor sale and distribution transparent, modern and accountable, said an official statement

Chartered accountants' apex body ICAI on Friday said the engagement of CA firms by the Comptroller and Auditor General (CAG) will not compromise the independence of the apex auditor.
The comments from ICAI comes in the backdrop of Madurai MP S Venkatesan (CPM) writing a letter to President Droupadi Murmu objecting to the CAG's plan to hire CA firms for auditing of central autonomous bodies will strengthen the auditing process.
In a detailed statement, the Institute of Chartered Accountants of India (ICAI) said the engagement of CA firms by the CAG is in no way a compromise of its independence or constitutional function.
"... Rather (it is) a strategic step to ensure effective coverage, domain-specific audit quality, and timely audit execution," it said.
Further, the statement said, the move is fully supported by professional standards, and ethical safeguards embedded in the ICAI's framework.
"Additionally, the scheme is expected to contribute to the organisation's (CAG) capacity .

In a detailed statement, the Institute of Chartered Accountants of India (ICAI) said the engagement of CA firms by the CAG is in no way a compromise of its independence or constitutional function

The Mumbai Metropolitan Region Development Authority (MMRDA) on Friday presented a Rs 40,187 crore-budget for the megapolis.
Infrastructure spends across projects have been pegged at Rs 35,151 crore or 87 per cent of the overall expenditure, as per an official statement. The revenues have been estimated at Rs 36,939 crore, and the body chaired by Deputy Chief Minister Eknath Shinde will be borrowing Rs 22,000 crore.
This will result in a budget deficit of Rs 3,249 crore, which the body plans to bridge through land sales, issuance of bonds, financial assistance from the government, and loans from financial institutions, the statement said.
The ongoing metro line projects have been earmarked Rs 10,969 crore of expenditure in the new fiscal, which is a fourth of the overall expenditure..
Over Rs 5,697 crore have been allotted for multiple tunnel projects which are going across the megapolis, with Rs 2,684 crore earmarked for the four-lane road running under the Sanjay Gandhi National 

Infrastructure spends across projects have been pegged at Rs 35,151 crore or 87 per cent of the overall expenditure, as per an official statement

The Rajya Sabha on Thursday returned the Finance Bill 2025 to the Lok Sabha, along with 35 government amendments, including one that abolishes a 6 per cent digital tax on online advertisements, thus completing the 2025-26 budgetary exercise that started on February 1.
The House also returned the Appropriation Bill (3) with a voice vote.
Earlier in the day, Finance Minister Nirmala Sitharaman had moved the two bills in the House.
The Lok Sabha had passed the Finance Bill on March 25 and passed the Appropriation Bill on March 21.
Replying to the debate later in the evening, she said the tendency of the finance ministry would be to exercise caution and not let go of revenues.
"But, here we wanted to use this opportunity to show our respect for Indian taxpayer. We have moved towards setting Rs 12 lakh as threshold up to which no one will have to pay any tax," Sitharaman said.
The Union Budget 2025-26 envisages a total expenditure of Rs 50.65 lakh crore, an increase of 7.4 per cent ov

The Union Budget 2025-26 envisages a total expenditure of Rs 50.65 trillion, an increase of 7.4 per cent over the current fiscal

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BS Views of the week: Economy's future, tax exemptions, old pension scheme, and more

Business Standard's opinion pages this week focused on Indian economy's future, tax exemptions, Data Protection Bill, and much more

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