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The Latest Breaking News from Finance

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

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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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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.

The Hindu

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.

Crikey

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

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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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The Hindu

GST Council sticks to its guns, imposes 28% tax on online gaming

Finance Minister Nirmala Sitharaman said that the October 1 date of implementation will be followed despite different State Ministers expressing concerns, and requesting reviews

The Hindu

Cabinet decides to merge TSRTC with government

The move is expected to strengthen the Corporation and also the public transport system in the State, says Minister for Municipal Administration briefing the media about the decisions of the Cabinet meeting

The Hindu

Parliament proceedings | Finance Minister terms Opposition’s refusal to discuss Manipur under Rule 176 in Rajya Sabha as ‘running away’

Finance Minister Nirmala Sitharaman criticised the Opposition’s refusal to discuss Manipur in Parliament, despite a discussion being listed in the Rajya Sabha

The Hindu

Telangana Govt. planning to introduce Labour Bima: Harish Rao

Finance and Health Minister T. Harish Rao said that the government has been contemplating on introducing “Labour Bima” for workers on lines of Rythu Bima.

The Hindu

Finance dept. sanctions ₹250 crore for paddy procurement

The Hindu

Focus on infrastructure, investment, innovation, inclusiveness to make India developed nation by 2047: Finance Minister

Finance Minister Nirmala Sitharaman government is focusing on nfrastructure, investment, innovation and inclusiveness to make India a developed nation by 2047

The Hindu

Purandeswari takes YSRCP govt.’s ‘financial irregularities’ to Union Finance Minister Nirmala Sitharaman’s notice

BJP State Pres. Purandeswari submitted rep. to Fin. Min. Sitharaman on AP govt's financial irregularities. Muraleedharan present. AP debt burden rose from ₹97,000 cr. in 2014 to ₹10.77 lakh cr. due to YSRCP govt's mismanagement. Loans raised through corp. w/o income, mortgaging assets, diverting funds. Requested Sitharaman to take action.

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