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The Latest Breaking News from Finance

‘Skill development scam’: Chandrababu Naidu’s arrest a conspiracy hatched by Chief Minister Jagan, alleges TDP leader Somireddy

Why is the CID not questioning former Finance Secretary Ajeya Kallam Reddy and former A.P. Skill Development Corporation Managing Director Prem Chandra Reddy in the scandal, asks Somireddy Chandramohan Reddy.

The Hindu

UDF locks horns with LDF in Assembly over ‘inefficient MPs’ charge

UDF MPs accused of not supporting State's interests in Parliament; heated exchange between both fronts; LDF blames Congress' fear of BJP; UDF blames LDF's inept fiscal management; UDF stages walkout; UDF claims Centre's policies to blame for financial crisis.

The Hindu

Uttar Pradesh approves formation of industrial township in Bundelkhand

An Uttar Pradesh Cabinet meeting headed by Chief Minister Yogi Adityanath on Tuesday approved the formation of a new industrial city in Bundelkhand region, aimed at developing it on the lines of Noida. Uttar Pradesh made a provision for additional ₹5,000 crore for the project. Finance and Parliamentary Affairs Minister…

The Hindu

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Transport Mantri Nitin Gadkari proposes 10% GST on diesel vehicles as pollution tax

Gadkari said, “I am requesting the Finance Minister to impose an 10 percent GST on diesel engines/vehicles." Read further on Dynamite News:

Dynamite News

Recession to end but Govt surplus delayed a year

The pre-election forecasts offer a rosier picture of the economy, with wages growing ahead of inflation, but tougher times for the Government’s own books.

Newsroom.co.nz

'No decisions' made yet on tax rises at next Scottish Budget, says Shona Robison

FINANCE Secretary Shona Robison has said there have been “no decisions” made yet regarding raising taxes at the next Budget.

The National (Scotland)

New Delhi declaration ‘almost ready’, says India’s G-20 Sherpa, as Ukraine para remains sticking point

G-20 Sherpa Kant says joint declaration "almost ready"; India able to bring all countries on board with its priorities. Negotiations on finance, climate action, phasing out fossil fuels, and debt restructuring have seen considerable movement. Leaders to discuss declaration and other issues on September 9 and 10; if no agreement,…

The Hindu

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Madras High Court takes up two more suo motu revision petitions against discharge of Tamil Nadu Minister I. Periyasamy, former Minister B. Valarmathi from corruption cases

The present revision had been taken up against an order passed by an Additional Special Court for MP/MLA cases in Chennai on March 17, 2023.

The Hindu

KSRTC sets new record in daily collection with ₹8.79 crore

The Hindu

State government likely to borrow from welfare boards

Govt to borrow from welfare boards to address liquidity crunch. Sources say decision to be taken post-Onam after assessing cash position. Previous govts have resorted to this option, rarely in recent times. FM Balagopal pegged Onam expenses at ₹18,000 crore.

The Hindu

Madras High Court takes up suo motu revision against withdrawal of disproportionate assets case against O. Panneerselvam in 2012

Madras HC takes up suo motu revision of order allowing DVAC to withdraw case against former AIADMK coordinator O Panneerselvam & family. Justice N. Anand Venkatesh to hear petition on Wed. DVAC had registered FIR against Panneerselvam in 2006. NGO Arappor Iyakkam seeks court-monitored probe into allegations of disproportionate assets.…

The Hindu

Fight for State’s rightful share, Finance Minister tells UDF

Finance Minister K.N. Balagopal on Saturday urged the United Democratic Front (UDF) to fight for the State’s rightful share from Central pool instead of blaming the State government for the State’s financial situation.

The Hindu

Finance dept. to verify CM’s daughter’s IGST remittances based on Cong. complaint

Finance dept. verifying accusations of IGST evasion by CM's daughter; Congress, BJP using it to campaign for Puthuppally bypoll; CPI(M) defending it as honest biz transaction; Isaac accused Congress of hiding behind smokescreen; Kuzhalnadan invited Isaac to inspect his finances; Satheesan using it to disparage CPI(M); Chandrasekhar accused crony capitalism…

The Hindu

Stop using star hotels and expensive facilities for events, government departments told

The Finance department wants government departments to cut down unnecessary expenses and put in place belt-tightening measures

The Hindu

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The Hindu

Congress announces reconstituted Working Committee; Shashi Tharoor, Sachin Pilot new additions

The Hindu Evening Wrap on August 20, 2023

The Hindu

Treasury regulations tightened further

The Finance department has further tightened the treasury regulations in view of the financial crunch and the fund requirements during the Onam month. The department has issued orders placing restrictions on the treasury from clearing bills over ₹5 lakh.

The Hindu

Telangana CM announces loan waiver up to ₹99,999 as I-Day gift to farmers

The Chief Minister made the announcement on the eve of the Independence Day on Tuesday, fulfilling the promise made by the Telangana Rashtra Samithi (now Bharat Rashtra Samithi) in the manifesto of the previous elections.

The Hindu

Parliament paves way for 28% GST on online gaming

Finance Min. Sitharaman introduces bills to amend CGST & IGST laws, allowing 28% tax on full face value of bets in online gaming, casinos & horse race clubs. Amendments provide clarity on taxation of supplies & impose GST liability on offshore entities. GST Council approved levy last week.

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Crikey

Katy Gallagher can find billions in savings — if she gets her department to crack the whip

What if bureaucrats could report dodgy procurement deals to the Department of Finance? The savings could be in the billions.

The Hindu

Opposition walks out of Kerala Assembly, accusing the government of failing to control price rise

UDF Opposition walk out of Assembly, accusing LDF Govt of failing to control food inflation.

The Hindu

Minimum Time Scale staff urge govt. to regularise their services immediately

Min. Time Scale Employees' Assoc. president urges State govt. to regularise services of staff who have served >30 yrs. Successive govts. have ignored plea. Urge govt. to fix gratuity & jobs for family members of deceased staff. Govt. more sympathetic towards contract system employees. Hoping Finance Minister Buggana Rajendranath Reddy…

The Hindu

Keep austerity in mind when preparing 2024-25 Budget proposals, says Finance department

Finance Dept. urges govt. depts. to prepare 2024-25 Budget with extreme austerity. Estimates must be realistic & accurate, revenue & dues to be accelerated. Economy measures may require dropping uneconomical schemes & putting off activities. Deadline for non-plan expenditure is Sept. 5, plan expenditure Sept. 10 & revenue estimates &…

The Hindu

Telangana govt. exploring options for extension of stay related to power dues to Andhra Pradesh

Govt exploring options to extend stay on AP's power dues recovery from Telangana. Union Minister for Power R.K. Singh said Centre directed Telangana to pay dues. Telangana went to court & got stay. Stay expired. Centre consulting Law & Finance Ministries to resolve issue. Amount due adjudicated to be ₹6,000-odd…

Crikey

Inquiry savages Shane Drumgold

ACT chief prosecutor Shane Drumgold is reportedly accused by the Sofronoff inquiry of having ‘knowingly lied’ during the Bruce Lehrmann rape case, and the Finance Department spent $32,000 on an external consultant to get advice on external consultants.

The Guardian - AU

Finance department hires consultant to advise on hiring consultants in move compared to ABC’s Utopia

Exclusive: Department’s $32,000 contract, which comes after PwC tax leak scandal, slammed as ‘laughable scenario’

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