Apart from Tripura, erstwhile Left ruled states of Kerala and West Bengal too had opposed the scheme.
The epfo’S decision making body — the Central Board of Trustees — is likely to take a call on these proposals at a meeting on March 31.
The Gujarat International Finance Tec-City (GIFT) will be the first international finance centre in the country and will help bring in at least $50 billion annually from investments.
Plans for a law on public procurement were announced by Arun Jaitley in Union Budget 2015-16 tabled last month.
Loans that are written off require full provisioning by banks, thereby impacting their profitability.
However, the related Rs 3,000 crore credit guarantee fund for the Bank would be set up through Budgetary allocations.
The proposed agency would also guide banks on mergers and consolidations.
Centre to allow members to migrate from NPS Swavalamban to the new scheme.
Prime Minister had set up the ministry of skill development and entrepreneurship to impart vocational training across India.
Finance, Jayant Sinha talks about the challenging task of rolling out goods and services tax by April 1, 2016.
The Reserve Bank of India had on Wednesday cut the repo rate by 25 basis points, following up on a similar cut in January this year.
At present, companies can open NPS accounts for their workers or individuals can open independent accounts under the scheme, but these contributions are over and above the mandatory deductions for the EPFO.
The proposed law on black money will allow the tax authorities to attach domestic property of equal value.
Approvals are in place for a number of stake sales of smaller public sector companies, and for larger companies in the metals space.
A report on Budget implementation reveals that 17 Rs 100-cr projects are still to be rolled out.
It is also silent on tax provisions for new asset classes in the scheme.
At present, on the back of exemptions & deductions, actual tax rate is 23.22%.
This means companies like TripAdvisor, who act as aggregators, will have to pay the service tax, Mishra explained.
The provision is at present available only to firms that employ 100 new workers in a fiscal.
Bank to lend to set up SMEs, encourage entrepreneurship among SC/STs, OBCs.
In a major rejig in retirement savings, workers will have a choice on whether to invest in the EPF or the National Pension System.
Jaitley proposed “to commence work on developing an Indian gold coin, which will carry the Ashok Chakra on its face”.
Fiscal deficit goalposts shifted; focus on PSU capex, channelling public savings.
Many announcements from the Budget presented on July 10 have been implemented such as Swachh Bharat, financial inclusion and an expenditure management commission.
Under the plan being finalised, the ministry would largely target school drop outs for skilling.
The Centre should not have much difficulty in meeting its fiscal consolidation plan as the actual increase in tax devolution to states is only 3 to 4 per cent, said M Govinda Rao.
PSUs asked to hike IEBR projections, could enable Centre walk fiscal tightrope.
There are 66 CSS schemes implemented by the Centre and states and more than two dozen Central sector schemes that would now be included under DBT.
The exercise was based on the frame using the data of the Economic Census 2005 of the non-manufacturing, non-farm sector.
The move comes after the Standing Committee in its report suggested a rethink on many of the amendments.
M Govinda Rao, NIPFP and member, 14th Finance Commission believes that the government needs to cut down wasteful expenditure.
The loan amount would be either four times the average monthly balance or 50 per cent of credit summations in six months.
Inflation in manufacturing has tended to be lower than for other sectors.
The CSO has moved from the ‘establishment’ approach to the ‘enterprise’ approach while collecting manufacturing sector data.
Announcement likely in Union Budget if proposal passes muster.
Substitution of hazardous ‘process’ with ‘substance’ faces flak.
Best of Express