Policy Updates
Policy Updates
Next steps required on GST after passage of Constitution Amendment Bill
4 August, 2016
A day after the passage of the Goods and Services Tax (GST) Constitutional Amendment Bill by Rajya Sabha, the Revenue Secretary (Union Ministry of Finance), Mr. Hasmukh Adhia presented a roadmap for the implementation of GST in the country. He...
Report of the Sub-Group of Chief Ministers on Rationalisation of Centrally Sponsored Schemes
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3 August, 2016
The Centre has accepted the major recommendations of a Chief Ministers’ panel on rationalisation of Centrally-Sponsored Schemes on 3 August. The panel has recommended that the number of CSSs should not normally exceed 30. In addition to that,...
Compensatory Afforestation Fund Bill, 2016
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28 July, 2016
The Compensatory Afforestation Fund (CAF) Bill, 2016 (also known as CAMPA Bill) has been passed by Rajya Sabha on 28 July. This will allow States to access nearly Rs. 42,000 crore and channel it into afforestation projects. The Bill had earlier been...
Benami Transactions (Prohibition) Amendment Bill, 2015 gets approval from Lok Sabha
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July, 2016
Lok Sabha passed the proposed Bill to check benami transactions, to further curb black money transactions made under fictitious names. According to the 1988 BT Act, ‘Benami Transaction’ is defined as “a transaction where a property is held by...
State Budget 2016-17, Tamil Nadu
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21 July, 2016
The Finance Minister of Tamil Nadu presented the Annual State Budget for the financial year 2016-17 on July 21, 2016. The proposed budgetary allocation for the year is Rs. 1,88,709...
State Budget 2016-17, West Bengal
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24 June, 2016
The Finance Minister of West Bengal presented the Annual State Budget for the financial year 2016-17 on June 24, 2016. The proposed budgetary allocation for the year is Rs. 1,60,044.59...
Andhra Pradesh launches the State Nutrition Mission
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17 June, 2016
Andhra Pradesh has launched the 'Nutrition Mission' that aims to abolish malnutrition in the state in next 10 years. The State Nutrition Mission will focus on multi-sectoral approaches, combining nutrition-specific and nutrition-sensitive...
Comments and suggestions sought from stakeholders and general public on the ToR of the FRBM Committee
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1 June, 2016
Budget Division of the Union Ministry of Finance has sought comments and suggestions on the Terms of Reference (ToR) of the FRBM committee from stakeholders and general public.The committee shall examine and give recommendations on relevance,...
State Budget 2016-17, Jammu and Kashmir
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30 May, 2016
The Finance Minister of Jammu and Kashmir presented the Annual State Budget for the financial year 2016-17 on May 30, 2016. The proposed budgetary allocation for the year is Rs. 64,669...
Union Ministry of Finance constitutes a committee to review and give recommendations on the FRBM roadmap for future
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17 May, 2016
The Government has constituted a committee to review and recommend a roadmap for FRBM Act for the future. It is chaired by Shri N. K. Singh, former Revenue and Expenditure Secretary, with Shri Sumit Bose, Shri Arvind Subramanian, Shri Urijit Patel...