Union Minister of Science & Technology Jitendra Singh said the simplified general financial rules will promote ease of doing research & empower institutes to innovate faster.
Ministry of Finance also informed Parliament that from 2023-24 onwards, it has stopped providing targets in budget for how much it expects to receive through disinvestment.
What did Manmohan Singh have to say about 1991 economic reforms, working with Indira Gandhi & Narasimha Rao, and more. Read this transcript of his Walk The Talk interview to find out.
GST council in its 54th meeting exempted universities, research centres governed by central or state govt, or those exempted from Income Tax, from paying GST on research grants.
Somanathan, currently finance secy, will take over as cabinet secy for 2 yrs starting 30 August. A vital adviser to finance minister & close to PMO, he is vocal about views on taxation.
Speaking at an event, the former CEA says he no longer thinks fuel & electricity should be included in GST and added that India has only now, 7 yrs later, reached pre-GST revenue levels.
July 2024 was first time no official release on GST collections was issued. Collections were Rs 1.74 lakh crore in June & average collections this fiscal yr are highest ever, it is learnt.
This is the game every nation is now learning to play. Some are finding new allies or seeing value among nations where they’d seen marginal interest. The starkest example is India & Europe.
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