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The Latest Breaking News from Finance

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

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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…

The Hindu

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.

Crikey

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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’

The Guardian - AU

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

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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.

Roll Call

Senators look to undo jurisdictional snag on Taiwan tax bill - Roll Call

Lawmakers want to strengthen the economic partnership with Taiwan and bolster the U.S. microchip industry.

The Hindu

Capex outlet inaugurated at NS Co-operative Hospital

Cashew industry should give more attention to marketing to increase the sales of the product, Finance Minister K.N .Balagopal has said while inaugurating a Capex sales outlet at NS Co-operative Hospital.

The Hindu

Finance dept. facing tough time in meeting commitments in election year

The announcement made by Chief Minister K.Chandrasekhar Rao comes at a time when the department is scrambling for funds to meet the commitments in the form of welfare schemes, especially during the election year.

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The Hindu

Beneficiaries of pension schemes to get ₹1,200, announces Finance Minister Thangam Thennarasu

Beneficiaries of social security pension schemes implemented by various departments of the Tamil Nadu government will get ₹1,200 instead of ₹1,000 per month, said Finance Minister Thangam Thennarasu.

Newsroom.co.nz

Budget docs reveal pressing need for transport funding overhaul

Officials warned the finance minister that transport funding should not be coming from supplementary Budget bids, reports Emma Hatton

The Hindu

Political, financial reasons behind KSRTC CMD’s decision to step down

KSRTC CMD Biju Prabhakar's decision to step down may be due to various reasons, incl. Finance dept's reluctance to provide timely assistance. A reshuffle in Cabinet portfolios, hostile attitude of Finance dept. & deepening crisis in corp. forced CMD to inform govt. of his decision. If Finance dept. delays monthly…

The Hindu

Eknath Shinde says he has support of 220 MLAs, says Ajit Pawar-led NCP faction’s inclusion necessary for ‘certain political equations’

Remarking that all speculation about the ruling Shiv Sena-BJP government collapsing had proved false, Maharashtra Chief Minister Eknath Shinde on Friday claimed his government had the support of 220 of the 288 legislators in the Maharashtra Assembly.

The Hindu

Balagopal flays banks for delay in payment for paddy procurement

Finance Min. Balagopal blames banks for delay in payments to farmers. Unveiled mascot, logo & TV ads of Kerala Lotteries. E. Sreedharan's report vindicates govt's stand on fast mode of transport. Mascot is green grasshopper, believed to bring luck. Logo carries tagline 'Reliable, Transparent, Popular'. Govt to examine & hold…

The Hindu

Kerala seeks nod for 1% ‘ad hoc borrowing’ in 2023-24

Kerala seeks 1% GSDP borrowing increase from Centre to offset resource loss. FM Balagopal asked for release of grants, arrears due to State. Loss of ₹8,400 cr Revenue Deficit Grant & ₹10-12K cr GST comp. FM seeks ₹265 cr Million-Plus Cities, ₹371 cr Health Grant, ₹521 cr IGNDPS, ₹750 cr…

The Hindu

Stress on continuing education and technology inputs in diabetes treatment to achieve successful outcomes

Finance Minister K.N. Balagopal has stressed the need for prioritising diabetes research in view of the significant burden of diabetes on society, both in terms of health-care costs and the well-being of individuals

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