-Quartz India On Dec. 30, 2016, Indian prime minister Narendra Modi cajoled president Pranab Mukherjee into promulgating the Specified Bank Notes (Cessation of Liabilities) Ordinance, 2016. Two days later, on Jan. 02, 2017, the supreme court, in a separate matter, delivered a verdict that changed the law of ordinances in powerful ways. It scrubbed out old meanings, unearthed new ones, and further garrisoned judges’ hold on the constitution. A prohibitive change...
More »SEARCH RESULT
Total Matching Records found : 233
Cabinet clears ordinance to punish people holding banned notes beyond deadline -Suchetana Ray
-Hindustan Times New Delhi: The Union cabinet cleared on Wednesday an ordinance to penalise those found holding a “high amount” of scrapped banknotes. The Specified Bank Notes Cessation of Liabilities Ordinance makes holding a large number of old Rs 1000 and Rs 500 notes a criminal offence that will attract a jail term and a monetary penalty of five times the amount of old cash one is caught with. The ordinance allows exchange...
More »I-T lens on 68 lakh non-filers who made high-value transactions
-The Times of India NEW DELHI: The income tax department has identified an additional 67.54 lakh non-filers who carried out high-value transactions in the 2014-15 financial year, but did not file tax returns for 2015-16. The I-T department is set to initiate action against these people soon. The information was collected from banks and other financial institutions. Data analysis carried out by the Central Board of Direct Taxes (CBDT) identifies non-filers about whom specific...
More »Parliamentary panel hears adverse views on demonetisation -Dilasha Seth & Amit Agnihotri
-Business Standard The demonetisation drive has hit job creation, beside adding to the stress on banks New Delhi: Demonetisation is expected to negatively impact the overall economy and job generation, a number of economists told Parliament's standing committee on finance. Reserve Bank governor Urjit Patel was to come but could not; he will do so on January 18. The panel heard four economists — former chief statistician Pronab Sen; Mahesh Vyas, head of...
More »MGNREGA spending high, call for Rs 10,000 crore extra -Shalini Nair
-The Indian Express As part of the first supplementary grant of demands, the ministry had released an additional Rs 5,000 crore — a third of the Rs 15,000 crore the MoRD had demanded to meet increased expenditure in drought-affected states. The Ministry of Rural Development has sought Rs 10,000 crore for the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGA) as part of the second batch of supplementary demand of grants, set...
More »
