Department Financial News

Delhi government hit by the arrest of Chief Minister Arvind Kejriwal is expected to be back on track if his former deputy Manish Sisodia is restored to his previous position even though the process will take time, officers and constitutional experts said on Friday. Sisodia held portfolios of 18 departments including education, finance, excise, health and PWD among others besides being deputy of Kejriwal before his resignation on February 28 last year. The former deputy chief minister would take care of the Delhi government's functioning in absence of Kejriwal when he used to leave for annual sessions of vipassana meditation for a few days. The Supreme Court on Friday granted him bail in excise policy cases lodged by the CBI and ED.

Haryana schools will change from «Good Morning» to «Jai Hind» as part of an initiative to foster patriotism among students, ToI reported on August 9. The Haryana Directorate of School Education has mandated this change, instructing school principals, headmasters, and education officers at district and block levels to implement it from August 15. The state government aims to «inculcate a deep sense of patriotism and national pride» in the students by making this shift. The department emphasised that the new greeting should be used before the national flag is hoisted on Independence Day. The idea is that using «Jai Hind» as a daily greeting will inspire students with a sense of national unity and respect for India's rich history.

new tax regime in the July 2024 Budget, increasing its attractiveness compared to the old tax regime. This was done by changing the income tax slabs to reduce tax payable, hiking the standard deduction to Rs 75,000 and increasing the deduction to 14% on employer's contribution to the NPS account under the new tax regime. However, these changes have been made in the new tax regime after almost 4 months of the financial year 2024-25 are already over. Salaried individuals have already informed, in April of this financial year, their employers about their individual choice of tax regime for deducting tax from their salaries. Employers use the tax regime chosen by the employees as the basis for calculating the TDS from each employee's salary. In the most cases, this choice has to be made in the first month of the FY as per employers' requirements. Each employee chose the tax regime favourable to him/her based on the income tax slabs under the old and new tax regimes existing at that point in time. Latest income tax slabs in old, new tax regime for FY 2024-25

Liberty Media, owner of Formula One Group, is confirming that it is under investigation by the Justice Department for denying Andretti Global entry into the Formula 1 World Championship

The world is falling well short of a promise signed at global climate talks last year to triple the amount of wind power, according to research by an energy think tank released Thursday

The number of Americans filing for jobless benefits fell last week but remain at slightly elevated though not troubling levels

The U.S. Department of Energy is loaning $1.45 billion to support a South Korean company’s bid to build up key parts of the solar supply chain inside the United States

Delta Air Lines is facing a class action lawsuit, which claims the airline refused to give refunds following a global technology outage last month

Mint. About the Ganga water treaty renewal, the minister said, “We are moving forward positively." The Ganga treaty will complete 30 years in 2026 and calls for a renewal. Queries sent to the spokesperson of the Bangladesh High Commission in New Delhi, and the concerned departments of Sikkim and West Bengal governments remained unanswered at press time.

Palantir Technologies said on Thursday it will offer its products, including the Artificial Intelligence Platform (AIP) on Microsoft's cloud platforms, which cater to the U.S. government and federal agencies such as the Department of Defense. The data analytics company will deploy its products, including the «Gotham» software — which assists in locating targets on battlefields — on Microsoft's Azure Government and Azure Government Secret cloud platforms. Palantir will «be the first industry partner to deploy Microsoft Azure OpenAI Service in classified environments,» CTO Shyam Sankar said in a statement.

Piper Sandler chief global economist Nancy Lazar discusses whether the U.S. economy is as strong as earnings suggest on 'Making Money.'

Left Front rule in Bengal had just got over at the Netaji Indoor Stadium in Kolkata. It was sometime in June 2007. CPI(M) patriarch Jyoti Basu, well into his 90s, had long delivered his speech but showed no signs of departing the dais although supporters had already started leaving the tightly packed venue. That wasn't usual, given the grand old man's failing health and his limited public appearances. Shortly afterwards, the stalwart was seen engrossed in an animated discussion with then chief minister Buddhadeb Bhattacharjee, his frown apparent even from a distance. Biman Bose, then Left Front chairman and secretary of the party's state unit, soon joined what looked more like a debate than a conversation. Again extremely unusual, given a deadpan Basu's demeanour in public rarely bordered on the jittery and the party hardly ever exhibited its differences outside the closed doors of its Alimuddin Street headquarters.

Buddhadeb Bhattacharjee will be handed over to state government-run NRS Medical College and Hospital here on Friday for research work, a CPI(M) official. The body of Bhattacharjee, wrapped with the CPI(M)'s red flag, was taken out of his frugal two-room residence at Palm Avenue in south Kolkata on way to mortuary Peace World on Thursday. Earlier, Governor C V Ananda Bose, Chief Minister Mamata Banerjee, Left Front chairman Biman Bose, CPI(M) state secretary Md Salim visited the Bhattacharjee residence. Bhattacharjee's wife Mira, in tears, walked along with the hearse carrying the mortal remains along with party leaders and hundreds of admirers cutting across political lines and members of the general public, before boarding a car.

Waqf Act, 1995, aiming to curb the unbridled powers of Waqf Boards, powers that were further enhanced by a 2013 amendment. This move is intended to bring transparency and accountability in the regulation and monitoring of over 8.7 lakh properties controlled by state boards across India and to address issues of corruption. Here’s a comprehensive look at what Waqf comprises and the challenges in managing these assets.

Corporate India, Mahindra & Mahindra has been served a notice from the office of the goods and services tax (GST) for the use of the 'Mahindra' brand name by various group companies. The show cause notice has questioned why M&M should not pay GST for the service given by the parent to the group companies by letting them use the flagship brand and logo. The notice relates to 2017-23. A Mahindra spokesperson declined to comment to ET on the communication from the indirect tax department.

Blackstone Inc. debuted an infrastructure fund targeting individuals with at least $5 million of investments, departing from the paths of rivals such as KKR & Co. and Apollo Global Management Inc. that have courted the less-wealthy “mass affluent” for such funds.

CFP Board has issued a permanent bar against a former advisor in New Hampshire who reportedly lost clients millions by placing them in complex investments that were unsuitable for them.

In a London Stock Exchange notice today (7 August), Quilter said Breedon had notified the firm about his plans to retire from the board, which he has been part of since 2020. Breedon will also be stepping down from all of his Quilter affiliated responsibilities, which will see him depart his role as chair of Quilter Investors, which is the multi-asset investment solutions business of the firm, and his board positions on Quilter Investment Platform, Quilter Life & Pensions and Quilter Financial Planning. The company said a further announcement will be made in due course once Breedon re...

The Biden administration has imposed sanctions on a Paraguayan tobacco company for allegedly financing the country’s controversial former president

A federal judge has branded Google as a ruthless monopolist bent on suffocating it competitors

online portal to fast-track visas for Production Linked Incentive (PLI) schemes has been kick-started by the Ministry of Home Affairs, a government official told ANI. The official mentioned that the online portal to fast-track PLI visas has been operational for about a week. The aim of this special initiative is to ensure smoother approvals of visas for technicians, mostly from China. «We have set up an online portal to fast-track visas for technicians in PLI sectors, including for Chinese vendors,» said the official. According to a government source, a meeting was also held with stakeholders to sensitize them on the workings of the online portal to fast-track PLI visas. The objective is to shorten the visa processing time from the current 4-5 months to within 30 days, according to sources familiar with the discussions.