Top 10 points about 7th pay commission: The Seventh Pay Commission is an administrative system that is set up by the Government of India to determine the salaries of government employees. Every Pay Commission does its research and then produces its recommendations to the Government of India on the same.
The Government will organise an event on July 1, to celebrate the second anniversary of Goods and Services Tax (GST) roll out, which will be addressed by Finance Minister Nirmala Sitharaman and her deputy Anurag Thakur.
An 'indefinite road blockade' by residents in Bihar's Jogbani has brought trade between India and Nepal to a halt on the Jogbani Land Customs Station for the past 48 hours. Over 2,000 trucks, including oil and gas tankers, are stranded on either side of the Indo-Nepal border.
In a written reply to a question in the Lok Sabha, Nirmala Sitharaman said prosecution has been launched in 68 cases.
The ministry cautioned the general public not to circulate the order since it is confidential in nature and may attract punitive actions under applicable legal provisions.
Market liquidity conditions, on an average basis, were mostly in a deficit mode during January-March 2019. The net average liquidity injection by the Reserve Bank under Liquidity Adjustment Facility (LAF) including MSF was Rs 52,364 crore during Q4 FY 19 (Rs 80,077.24 crore during Q3 FY 19).
The government is considering to increase the personal income tax threshold in Budget 2019-20, according to a Bloomberg report. Budget 2019-20 is set to be presented by Finance Minister Nirmala Sitharaman on July 5.
In order to generate public interest in the Budget, the Finance Ministry has started a quiz series on twitter.
Uttarakhand Finance Minister Prakash Pant passed away in the US during the early hours of Tuesday.
As the election results paved the way for the formation of a new government under Prime Minister Narendra Modi, several names have started doing the rounds for getting plum Cabinet portfolios.
"Income Tax Exemption for Gratuity under Section 10(10)(iii) of the Income Tax Act has been enhanced to Rs 20 lakh. Would benefit all PSU employees and other employees not covered by Payment of Gratuity Act," Finance Minister Arun Jaitley said in a tweet.
In a swipe at the Congress, the Minister said that unlike the previous UPA dispensation, the present Modi government in the interim budget did not reduce levies of SUVs which are used by rich persons.
The finance minister presents a comprehensive statement of government's finances including spending, revenues, deficit and debt etc. on the budget day.
Finance Minister Arun Jailtey on Thursday maintained in the Rajya Sabha that mistakes made by the Congress had led to alienation among people in Kashmir.
The annual revenue implication of the rate cuts would be Rs 5,500 crore, Finance Minister Arun Jaitley said.
FM Arun Jaitley: Monitors and Television screens, Tyres, Power banks of Lithium-ion batteries have brought down from 28% to 18% slab. Accessories for carriages for specially abled persons have been brought down to 5%.
The cost of printing currency notes escalated to Rs 7,965 crore in 2016-17, the year when the government had banned the high-value 500 and 1,000 rupee bills, the government informed Parliament on Tuesday.
However, he questioned how a mere discussion on RBI's functioning could be considered "destruction" of an institution.
Nations across the world are now realising that increased trade helps not just the global economy but also its own economy, he said.
Jaitley's comments reflect a growing tension between the RBI and the government, days after the central bank Deputy Governor Viral Acharya made a bold pitch for autonomy and independence in the banking regulator's functioning.
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