Nirmala Sitharaman says GST compensation will have to be paid from compensation cess kitty only; states are staring at GST revenue shortfall of around Rs 2.35 lakh crore, of which Rs 97,000 crore is believed to on account of GST compensation

Calling it an attempt to \"undermine federalism\", Mamata said it was a travesty and an abrogation of the fundamental basis on which the states gave up 70 per cent of their taxing powers to usher the GST regime

Gross mismanagement of the economy, starting with demonetisation in November 2016 and continued with untimely, unplanned and sudden nation-wide lockdown has compounded the GST problem. Centre's refusal to pay compensation to states now may derail it completely

Centre had recently informed the parliamentary standing committee on finance that it does not have enough funds to pay the 14 per cent GST compensation that it is statutorily mandated to pay to states

In a series of tweets, the ministry said before goods and services tax (GST), the combination of value-added tax (VAT), excise, sales tax and their cascading effect resulted in high standard rate of tax up to 31 per cent

India's COVID-19 tally sprinted past the 30-lakh mark in just 16 days. COVID-19 cases in the country jumped from 10 lakh to 20 lakh in 21 days

Not only Prime Minister Modi, BJP stalwarts such as Amit Shah, Ravi Shankar Prasad, Hardeep Singh Puri also paid tributes to late Finance Minister Arun Jaitley

Gandhi says RBI governor resigned in just over two years as Prime Minister Narendra Modi didn't want him to go after wilful defaulters

Merger plan, envisaged by late former finance minister Arun Jaitley, has been dropped for now and the Centre now wants to make these companies profitable

GST Council has been debating on revenue augmentation, amid severe revenue constraints before Centre and states, however, the Council is not likely to take any decision on increasing GST rates

Wide gaps in corporate and non-corporate direct tax collections are known for years and a huge number of tax evaders are routinely identified every year by the tax authorities but lack of effective follow-up action ensures that the status quo is maintained

The former bureaucrat said that Indian telecom is headed towards becoming a duopoly (Reliance Jio and Bharti Airtel) with the remaining two players- Vodafone Idea and BSNL-MTNL - hurtling towards eventual shutdown

The decision has been taken in the light of the critical financial position and breach of regulatory solvency requirements of these three public sector general insurance companies

The industry has been in the midst of a protracted slowdown as consumers at large, faced with rising unemployment and an unsure future, have stopped spending

The government expects to raise Rs 90,000 crore through sale of stakes in state-owned life insurance company LIC and IDBI Bank

Sitharaman also said the government was strengthening provisions related to safeguard and anti-dumping duties. These measures permitted under WTO guidelines are imposed in cases when a surge in imports in specific instances is reported from member countries

Kasturirangan feels that with new pedagogy, teachers and infrastructure, India could really become a destination for higher education for international students

Machine learning and AI will be used for delivering the Ayushman Bharat scheme

One of the reasons the government would have given importance to the dairy sector is because of the shortage of milk and drastically low levels of SMP (skimmed milk powder)

FM Sitharaman explained taxpayers' charter in her budget speech: \"An important aspect of both ease of living and ease of doing business is fairness and efficiency of tax administration\"