Page 19 - Modi Govt

Fake ITC claims detection by GST officers up 51% at Rs 36,374 cr in FY24

Fake input tax credit (ITC) claims detection by central GST officers increased 51 per cent to Rs 36,374 crore in 2023-24, Parliament was informed on Monday. Minister of State for Finance Pankaj Chaudhary shared details of the fake input tax Credit (ITC) cases booked by Central Tax formations during the 2022-23 and 2023-24 fiscals in a written reply to the Lok Sabha. During 2023-24, 9,190 cases were booked by the central GST officers, involving fake ITC of Rs 36,374 crore. 182 persons were arrested and voluntary deposits of Rs 3,413 crore were made in the cases. During 2022-23, Rs 24,140 crore fake ITC were detected in 7,231 cases. 152 persons were arrested and Rs 2,484 crore taxes were deposited voluntarily. The Number of cases booked by central tax formation during 2021-22 was 5,966. Chaudhary said the challenges in tracking fake ITC fraudsters relate to masterminds, who operate the fake ITC generation through control and management of a complex web of entities created across ...

New fiscal policy questions

India needs a fiscal road map consistent with the objectives of faster debt reduction

Like Abhimanyu, India trapped in new chakravyuh: Rahul Gandhi on Budget

Budget 2024: The govt has stabbed the middle class both in the chest and in the back with this Budget, said the leader of the Opposition in Lok Sabha, Rahul Gandhi

Cong calls Budget copy of its manifesto but also criticising: Himanta

Assam Chief Minister Himanta Biswa Sarma on Tuesday said contradiction and confusion were "trademarks" of the Congress as it called the Union Budget a copy of its election manifesto but also criticised it. He said the Budget would usher in a new wave of development in Assam and the Northeast. "Congress calls our budget - a copy of their manifesto, yet they criticize it. Contradiction and confusion are Congress's trademarks," he said in a post on X. "With enhanced budgetary outlays and key sectoral schemes along with dedicated assistance for combating floods, the budget will be a game-changer for the state," he added. Sarma thanked the Centre for allocating Rs 1,000 crore for the welfare of the tea garden community under the Pradhan Mantri Cha Shramik Protsahan Yojana. "My gratitude to the Government led by Hon'ble Prime Minister Shri @narendramodi Ji for this unique scheme that will greatly benefit our brothers and sisters, who form the backbone of Assam's tea industry," he said.

Union Budget 2024: Fiscal balance amid coalition compromises

Tinkering with rates proposed in the Budget does not change the protectionist stance and there is a need for rethink on the issue

Key highlights of Budget 2024: Major focus on jobs, infra, new tax regime, incentives for allies

Nine priorities expedite journey towards goal of 'Viksit Bharat', said finance minister

Budget 2024: Poor, middle class continue to get tax benefits, says PM Modi

Union Budget 2024: PM Modi made the remarks about the Budget hours after Finance Minister Nirmala Sitharaman made her presentation in the Lok Sabha

Budget 2024: Bonds slip after Modi govt leaves borrowing largely unchanged

New Delhi also forecast a narrower fiscal deficit of 4.9 per cent of gross domestic product, versus 5.1 per cent in the interim spending plan

Budget 2024: Standard deduction limit in new tax regime raised to Rs 75,000

Union Budget 2024: Nirmala Sitharaman on Tuesday announced that the standard deduction limit under the new tax regime has been revised to Rs 75,000 from the existing Rs 50,000

Budget 2024: Centre announces paid internship scheme in top 500 companies

Union Budget 2024: The announcement made by Nirmala Sitharaman was a part of the package aimed at boosting employment and enhancing India's skilling capacity

Budget 2024: Sitharaman outlines 9 priorities for 'Viksit Bharat 2047' goal

Union Budget 2024: Sitharaman said that for the pursuit of 'Viksit Bharat', the Centre has narrowed nine key priorities related to employment, energy security, and infrastructure, among other things

Budget 2024: Prez Murmu offers customary 'dahi-cheeni' to Sitharaman. Pics

Union Budget 2024: FM Sitharaman and her team met with President Droupadi Murmu at the Rashtrapati Bhavan in New Delhi before heading for the Parliament to present the Budget

Sitharaman keeps paperless budget tradition, carries tablet in 'Bahi-Khata'

Budget 2024-25: From 'Bahi-Khata' to going paperless, Finance Minister Nirmala Sitharaman cements new traditions for the budget presentation in India

Budget 2024: FM Sitharaman, her team spotted with 'Bahi Khata'. WATCH

Budget 2024: Sitharaman in her inaugural Budget presentation in 2019, had introduced the 'Bahi Khata' to carry the Budget documents, replacing the traditional leather briefcase

Budget 2024: When and where to watch Sitharaman's speech; other key details

Union Budget 2024-25 will be the seventh consecutive budget presentation by Sitharaman, a record streak by any finance minister of India, marking a key historical milestone.

Budget 2024: Numbers to watch out for in world's fastest-growing economy

Finance Minister Nirmala Sitharaman will on Tuesday present her 7th straight Budget that would lay a roadmap for Viksit Bharat (developed India) by 2047, while giving a glimpse of 10 years' performance. All eyes will be on whether Sitharaman provides the much-expected tax relief for the middle class, leaving more money in their hands, as there is tax buoyancy. Besides, the market also expects staying on the fiscal glide path to lower the fiscal deficit to 4.5 per cent of GDP by 2025-26. Sitharaman, who would be presenting her seventh straight budget, had in her first Budget in 2019 replaced the leather briefcase -- which had been in use for decades for carrying Budget documents -- with a traditional 'bahi-khata' wrapped in red cloth. This year's Budget would be in paperless form, as done in the last three years. Here are the key numbers to watch out for the first full Budget of Modi 3.0: * Fiscal Deficit: The budgeted fiscal deficit, which is the difference between the government .

Tax cuts to welfare support: Here's what to expect from Modi 3.0 1st Budget

Government is expected to reduce its deficit target slightly from the 5.1 per cent of gross domestic product projected before the elections

Nation's air pollution crisis result of policy failure: Congress slams govt

Accusing the Modi government of "poor policy-making" in dealing with air pollution, the Congress on Sunday demanded that the forthcoming Union Budget must provide a path forward to resourcing and equipping India's local bodies, state governments, and the Centre in tackling this "grave public health crisis". Congress general secretary in-charge communications Jairam Ramesh said earlier this month, a study revealed that 7.2 per cent of all deaths in India are associated with air pollution -- about 34,000 deaths each year in just 10 cities. A new study by the Centre for Science and Environment in Delhi has evaluated the National Clean Air Program (NCAP) and brought to light the policy chaos that has resulted in this public health crisis, he said in a statement. "The current budget of the NCAP, including the 15th Finance Commission's grants, is about Rs 10,500 crore -- spread across 131 cities! The programme is therefore desperately underfunded -- and yet, and of this meagre amount, onl

Paswan backs caste census but says if made public, data will create divide

Union minister and LJP (Ram Vilas) chief Chirag Paswan has pitched for a nationwide caste census but warned against making the figures public as it will lead to "division" in society, and said no discussion within the ruling NDA has taken place so far over simultaneous polls and the Uniform Civil Code, both part of the BJP's manifesto. In an interaction with PTI editors, he flagged concerns about the UCC and said he cannot take a position unless a draft on it is placed before him. He, however, asserted that his Lok Janshakti Party (Ram Vilas) strongly supports the concept of simultaneous polls. Asked about his views on the Uniform Civil Code (UCC) and if he supports it, Paswan said, "We don't have a draft for it yet. Until unless we go through that draft, because there are a lot of concerns... India is a country of diversities." Be it language, culture or lifestyle, everything is different in different regions of the country, he said, wondering "how can you bring everyone under one

Union Budget 2024 to signal next steps for IDBI Bank privatisation

IDBI Bank's market capitalisation is around Rs 95,000 crore. The government could secure close to Rs 29,000 crore for the sale of 30.5% of its 45.5% stake