EC failed to check the use of ‘invisible money’, says Arun Jaitley

EC failed to check the use of ‘invisible money’, says Arun Jaitley

“For seventy years — we have to honestly introspect and that is a problem that I am grappling with right now — for seventy years, India’s democracy has been funded by invisible money, Elected representatives, governments, political parties, Parliaments. And I must say that the Election Commission completely failed in checking it,” Jaitley said

Job creation India's biggest challenge: Singapore Deputy PM
Job creation India's biggest challenge: Singapore Deputy PM

The shortage of skilled manpower needs concerted action from policymakers or else "the demographic dividend will become demographic crisis in the years to come", Shanmugaratnam said.

Addressing NPA issue our top priority: RBI Dy Governor
Addressing NPA issue our top priority: RBI Dy Governor

When asked if clean up of bank balance sheets is more important that rate cuts, Acharya said “That is certainly our number one priority.” The Gross NPA of banks has risen to 9.6 per cent in March 2017 from 9.2 per cent in September 2016, as per the RBI data.

Need data protection law in the country, says Nandan Nilekani
Need data protection law in the country, says Nandan Nilekani

Nilekani said that data from tools such as Aadhaar is fundamental for putting the economy on a cycle of growth, and could empower users with data, remove knowledge asymmetry and promote innovation. He also urged policymakers to take steps for data inversion to empower users, who can benefit from their own data.

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When asked if clean up of bank balance sheets is more important that rate cuts, Acharya said “That is certainly our number one priority.” The Gross NPA of banks has risen to 9.6 per cent in March 2017 from 9.2 per cent in September 2016, as per the RBI data.

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“India’s biggest challenge is jobs. It is a real challenge going forward because India has lost a lot of time, it has lost a lot of time because you have legislation, employment legislation which is anti-employment,” he said at the Delhi Economics Conclave 2017 organised by the finance ministry.

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To opt for composition scheme, the taxpayer needs to log into his account at the GST Portal www.gst.gov.in and select 'Application to opt for the Composition Scheme' under 'Services' menu.

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"India is facing threats from China, which is earning a huge profit by selling its products in Indian market. We will close all business establishments for one-day in the state for making people aware about the evil designs of China," association secretary B K Mohanty said

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In a major move aimed at promoting transparency in political funding, Arun Jaitley had in this year's Budget speech announced capping of anonymous cash donations to political parties at Rs 2,000 and introduced electoral bonds.

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Demonetisation helped in curbing round tripping of corrupt and black money," Jaitley said.

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“Our idea is to create a data-driven platform for auditing the GST which is independent of time, place and person. Our State Auditor Generals are already interacting with state governments with requirements for the digital GST audit,” he said.

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Kumar was peaking at a function in New Delhi where Power Purchase Agreements (PPAs) were signed for purchase of 1050 MW of wind power under MNRE’s first wind auction scheme.

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Under Uday, state governments are required to take over 75 per cent of the short-term liabilities of their respective discoms (as in September-end 2015), 50 per cent in the first year (FY16) and the balance in FY17.

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“This was a preliminary meeting. The Cabinet approval for Air India stake sale is already there. We need to see how to go about it,” a senior minister who attended the meeting said, asking not to be named.

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This marks a departure from the general trend, when practically no congestion was recorded in the northern region. The outage at the crucial Champa-Kurukshetra HVDC transmission system had led to a sharp drop of about 1,500 MW in the power wheeling capacity between the western region and the northern region.

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Even as the company witnessed a decline in its data revenues, it said that data usage during the quarter showed a healthy growth. Vodafone attributed the decline in revenue to “continued price competition from the new entrant and incumbents.”

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The government auditor also said that this understatement led to a short payment of revenue of Rs 7,697.62 crore to the government, besides the operators also owe Rs 4,531 crore as interest on this short payment.

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The scheme, being sold by Life Insurance Corporation, provides for pension options of monthly, quarterly, half-yearly and yearly frequency, resulting in return of around 8.3 per cent. It is available till May 3, 2018, for citizens aged 60 years and above.

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“We have invested over 1.3 lakh crore in our energy and material businesses. All of these investments will start generating operating revenues in the coming months. These investments have further strengthened our cost positions, enhanced our scale and competitiveness and created new lines of business,” he said.