PANKAJ CHAUDHARY
Congress won't get main opposition status after June 4: Union minister Pankaj Chaudhary
Union minister and BJP candidate Pankaj Chaudhary claimed that the Congress will not secure enough seats to become the main opposition party in the upcoming Lok Sabha elections, predicting the BJP will win over 400 seats, including 80 from Uttar Pradesh. Chaudhary, a prominent Kurmi community leader, emphasized the BJP's appeal across all castes and dismissed concerns about divided Kurmi votes in his constituency.
Lok Sabha Elections 2024: Local factors an issue in Muzaffarnagar
Muzaffarnagar Lok Sabha Elections 2024: Muzaffarnagar has five assembly segments - Budhana, Charthawal, Muzaffarnagar, Khatauli and Sardhana. BJP has only one MLA from Muzaffarnagar while SP has two MLAs from Sardhana and Charthawal. RLD has two MLAs from Khatauli and Budhana.
Centre’s external debt ratio drops to pre-Covid level
In a written reply, minister of state for finance Pankaj Chaudhary said the Centre’s internal debt ratio has been moderating since hitting 58.3% of GDP in the Covid year of FY21. It’s estimated to touch 55.4% of GDP, or Rs 164.44 lakh crore, in FY24. In absolute terms, the external debt will touch Rs 7.93 lakh crore in FY24, according to the revised estimate.
Over 2.16 lakh people earn above Rs 1 crore in Assessment Year 2023-24: Pankaj Chaudhary
India witnesses a remarkable rise in individuals earning over Rs 1 crore annually, reaching 2.16 lakh for the 2023-24 Assessment Year. Minister Pankaj Chaudhary unveils a positive trend in high-income earners, with significant growth since 2019. Additionally, there's an uptick in 'Profession' income reporting. Finance Minister Sitharaman notes a 27.6% year-on-year increase in personal income tax collections, attributing it to tax reforms and enhanced compliance measures, painting a promising picture for India's economic trajectory.
CPSE purchases via GeM portal hit Rs 1.37 lakh crore, beat entire FY23 level: Finmin
As of December 6 this fiscal year, central public-sector enterprises (CPSEs) have procured goods and services amounting to Rs 1,36,607 crore from the Government e-Marketplace (GeM) portal, marking a nearly 28% increase from the previous fiscal. About one-third of these purchases, valued at Rs 46,013 crore, were made from micro, small, and medium enterprises.
Court denies bail to sacked RPF constable accused of killing four persons on moving train
A court in Maharashtra denied bail to dismissed Railway Protection Force (RPF) constable Chetansinh Chaudhary, accused of shooting dead his colleague and three passengers on a moving train in July. Chaudhary, who is currently in jail in Akola, claimed he was suffering from "haunted illusions" and was doing strange acts. The police opposed his bail plea, citing his anger towards a particular community and his lack of remorse for the crime.
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No impact of Israel conflict on Indian economy via oil prices; taking steps to minimise effect of global shocks: Finmin
In a written reply in the Rajya Sabha, minister of state for finance Pankaj Chaudhary also said the government has been successfully adopting measures to mitigate global shocks on the domestic economy over the past three-four years.
Indian economy has ability to sustain fast growth despite global turmoil: Finance Ministry
Minister of state for finance Pankaj Chaudhary also said India's economic growth of 7.6% in the second quarter of FY24 beat the most optimistic projections. “The real GDP growth in Q2 of 2023-24 was not only higher than the median projections of 6.8% by professional forecasters but also their highest estimate of 7.4%," Chaudhary said.
Centre’s debt estimated to drop to 57.2% of GDP in FY24: MoS finance
Minister of state for finance Pankaj Chaudhary, in a written reply in the Rajya Sabha, stressed that the risk profile of the debt “stands out as safe and prudent in terms of accepted parameters of an indicator-based approach for debt sustainability”. The government debt is held predominantly (about 95%) in the domestic currency, he said, seeking to assuage fears of forex risks.
Nirmala Sitharaman chairs meeting to further improve efficiencies in her ministries
The discussions in the session revolved around skilling, maintaining robust organisational processes, streamlining file management systems and expediting decision-making, onboarding of stakeholders from the start, citizen-friendly technology tools, flexible working hours to enhance productivity, leveraging technology and use of AI for future-readiness, whole-of-government-and-holistic approach towards public service delivery, time-bound delivery of citizen-centric services, removing duplicity of effort, and leveraging technology and use of AI for future-readiness.
PhonePe says it is fully compliant with Press Note 3: MoS Finance Pankaj Chaudhary
Under PN3, all FDI proposals from entities based in a country that shares a land border with India or where the beneficial owner of such FDI is based in a country that shares a land border with India, will only be allowed after government approval.
Centre’s debt profile safe and prudent; external debt-to-GDP ratio eases: Finance Ministry
In a written reply, minister of state for finance Pankaj Chaudhary said: “The risk profile of Central government’s debt stands out as safe and prudent in terms of accepted parameters of indicator-based approach for debt sustainability. The government debt is held predominantly in domestic currency.”
FIU-Director to share suspicious transaction data with GSTN to curb tax evasion: MoS Finance
Replying to a question on whether GSTN has been brought under the purviews of PMLA, Minister of State for Finance Pankaj Chaudhary said there is no such proposal under consideration.
28% GST stays on online gaming, casinos; Council to review taxation in six months from implementation
The Goods and Services Tax (GST) Council has decided to retain a 28% tax on online gaming, casinos, and horse racing. The tax is likely to come into effect on October 1, 2023, and will be reviewed after six months from its implementation. The tax will be imposed on entry level and not on winnings. The Law Committee has advised inserting a new rule under which the total amount deposited with online gaming platforms will be considered for computing the tax value.
India's road map for $5-trillion economy focusses on growth and ‘all-inclusive welfare’: Finance Ministry
The Indian government's road map to make India a $5 trillion economy focuses on macro-level growth and "all-inclusive welfare" on the micro level, according to Minister of State for Finance Pankaj Chaudhary. The plan aims to create a "virtuous cycle of investment and growth" and prioritises digital economy and fintech, technology-enabled development, energy transition and climate action.
Profit or loss of a PSU not among criteria for disinvestment: Fin Min
The finance ministry informed the Parliament that profit or loss of a state-run company is not among the relevant criteria for its privatisation or disinvestment policy but it’s based on the economic principle that the government should discontinue in sectors where competitive markets have come of age. The strategic disinvestment or privatisation is carried out through an “open, transparent and competitive” bidding process, it said
Centre devolves Rs 3.09 lakh cr to states till July
The Centre has transferred over Rs 3.09 lakh crore to states out of the Rs 10.21 lakh crore that are budgeted for the current fiscal year, according to Pankaj Chaudhary, the Minister of State for Finance. As a response to a question in the Lok Sabha, he explained that there is no pending payment in terms of the amount that needs to be devolved to states from the Centre. The 15th Finance Commission has recommended that states be given 41 per cent of the pool of Centre's divisible tax during the period of 2021-22 to 2025-26.
I-T searches, assets seizure increased over the last three fiscals: Govt data
The number of groups searched by the Income Tax Department and the resulting seizure of assets has shown an increasing trend over the last three financial years, according to a government data placed in the Parliament on Tuesday.
Was Parliament misled or SEBI 'fast asleep' as investors duped: Congress on 'no probe against' Adani affidavit
The Securities and Exchange Board of India (SEBI) told the Supreme Court that it was not investigating the Adani Group since 2016 as claimed. The probe pertained to the issuance of Global Depository Receipts (GDRs) by 51 Indian firms and no listed company of the Adani Group was among them, it said.
I-T dept seized assets worth over Rs 4,800 crore in last 4 fiscals: Govt
The data pertains to financial years 2019-20, 2020-22, 2021-22 and 2022-23 (provisional figures till January 2023) and Chaudhary said a total of 2,841 groups were searched by the I-T department leading to seizure of assets worth Rs 4,863.12 crore.
Finance Ministry agencies attach immovable properties worth Rs 1.11 lakh crore in six years
Enforcement agencies under the Finance Ministry have attached immovable properties worth Rs 1.11 lakh crore over the last six years, with Rs 19,832 crore immovable properties attached in 1,657 cases in 2021-22 alone. Despite properties worth Rs 71 crore having been disposed of by the Central Board of Direct Taxes (CBDT) and Central Board of Indirect Taxes and Customs (CBIC) between 2017-18 and 2021-22, many such cases remain challenged in court, said Minister of State for Finance Pankaj Chaudhary.
Lok Sabha okays Centre’s extra net spend of Rs 1.48 lakh crore
Of the total additional cash outgo, Rs 36,325 crore is for payment towards fertiliser subsidy. This includes additional subsidy outgo of Rs 21,000 crore for P&K (phosphorus and potassium) and Rs 15,325.36 crore for urea.
Tax demands of Rs 13,566 crore raised in four fiscals under black money law: MoS Finance
In the four fiscals starting 2018-19, a total of 349 assessment orders were passed and a demand totalling Rs 13,566 was raised.
Government seeks Parliament's nod for additional ₹1.48 L cr spending
While the additional gross spending for FY23 is estimated at over ₹2.70 lakh crore, as much as ₹1.22 lakh crore of this will be met through savings or enhanced receipts of ministries and departments.
Government seeks Parliament nod to spend additional Rs 1.48 lakh cr in 2022-23
This additional spending includes over Rs 36,000 crore towards fertiliser subsidy and Rs 25,000 crore to the Department of Telecom. Another Rs 33,718 crore is towards meeting defence pension expenditure.
No government committee to probe Adani; DRI investigation in Indonesia coal import not concluded: Minister
Lok Sabha saw several questions being put by MPs to the government on the Adani issue, which were replied through written responses by the minister. To a question asking if the government had constituted any committee to investigate allegations made against the Adani group by Hindenburg Research, Minister of State for Finance Pankaj Chaudhary said, "No".
RBI wants opinion of stakeholders whenever there is policy announcement: Governor Shaktikanta Das
The Governor was speaking at a joint conference of the central bank and the Finance Ministry held after the address of Finance Minister Nirmala Sitharaman to the Central Board of Directors of RBI in the customary post-Budget meeting on Saturday.
RBI didn't make letter to govt on inflation public fearing market disruption, reports say
The Reserve Bank of India did not make its letter to the Central government on retail inflation measures public as it feared it could lead to market disruptions and cause financial market volatility, the central bank said in response to an appeal under the Right to Information (RTI) Act, as per Mint.
Budget 2023 will incorporate every section's expectations, says MoS Finance Chaudhary
"This is the budget incorporating the expectations of every section of society. Indian economy is on track due to the leadership of PM Modi and the supervision of Nirmala Sitharaman. The Economic Survey also suggests the same. The budget has been made keeping in view all sections of society and it will stand on everyone's expectations," he said.
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