New political outift launches campaign seeking transparency in Bengaluru civic body's accounts
According to party's general secretary Srikanth Narasimhan: “The reason for us launching #LekkaBeku campaign is to create transparency and accountability in public spending. We have filed a petition on change.org to create awareness among the citizens of Bengaluru. We are hopeful that suitable action will be taken soon. In case the desired outcome is not achieved, BNP plans to get at least 10,000 people to file RTI petitions.
Government may include off-budget spending for a clearer picture
The govt may present other liabilities on its books, a move that could raise...
Delhi: How relief on electricity bills is powering election campaigns
Subsidised power became available after AAP came to power in 2015, and ...
RBI should target core inflation at 3 per cent: Pronab Sen
Referring to a report by the Comptroller and Auditor General (CAG), which pegged India’s fiscal deficit for 2017-18 at 5.85% against the government’s reported figure of 3.46%, Pronab Sen said, “3.4-3.5% fiscal deficit figure is fiction. Till the time we have the real deficit number, we can’t talk of the slippage. I think it is 4.2-4.4%.”
FY20 deficit likely to be 4.5-5% of GDP: Ex-Fin Secy
Former finance secretary Subhash Garg has said India's real fiscal deficit in FY20 is likely to be higher at 4.5-5% of GDP due to an expected shortfall in revenue, and higher spending.
Fadnavis govt didn’t submit grant utilisation certs: CAG
NCP president Sharad Pawar demanded a high-level probe into the departments which failed to submit utilization certificate within the stipulated period and financial indiscipline, while finance and planning minister Jayant Patil said offences will be registered against erring officials for dereliction of duty.
IIFL has buy on Coal India, target price Rs 257
The analyst suggested a stoploss at Rs $stopLossL .
Refills under Ujjwala scheme too low, says CAG report
Low consumption of refills by about nine million consumers who had taken loans hindered the recovery of Rs 1,234.7 crore worth of loans, the report said. It also flagged the risk of illegal diversion of subsidised cylinder as there were 344,000 instances of 2-40 refills in a single day by a beneficiary having a single cylinder connection.
Only 4 strategic sales out of 24 PSUs, CAG slams govt
The Comptroller and Auditor General (CAG) Rajiv Mehrishi presented a report in Parliament which revealed that out of the 24 staterun public sector undertakings approved by the Cabinet for strategic stake sale, only one HPCL-ONGC deal was finalised in 2017-18. The auditor slammed the government for using exchange traded fund route for the sale.
6 power, coal PSUs granted Rs 175-crore special pay to staffers: CAG
NLC India paid its employees a total Rs 26.83 crore, which included two special golden jubilee increments from January 2006. In 2009, it distributed two-gram gold coins to employees completing 30 years of service in the company.
Shoddy ammo from ordnance factories hitting military: CAG
TOI had reported on May 14 that the Army had sounded alarm over the unacceptably high number of accidents taking place in the field due to poor quality of ammunition being supplied for tanks, artillery, air defence and other guns by the OFB, which has 41 ordnance factories under it with an annual budget of over Rs 15,000 crore.
Analyst Calls: UPL, Bharat Forge, APSEZ, CIL
Phillip Capital has maintained neutral rating on Jubilant FoodWorks with a target price of Rs 1,445.
CAG flags irregularities in Mizoram tourism project
A CAG report said the state tourism department had awarded a contract to a Delhi-based consultancy firm before getting approval of the project from the Centre and extended "undue benefit" to the company.
Response to Railways' 'Give it Up' scheme 'not encouraging': CAG report
CAG report tabled in Parliament reported that senior citizen concession accounted for 52.5 per cent of the total allowed by the national transporter. Thus, the 'Give it Up' scheme, which started in 2017, encouraging senior citizens to give up their train fare concessions, is not encouraging enough.
ITAT hearing on Trusts’ appeal likely in February: I-T Dept may argue 6 Tata Trusts owning shares in cos wrong
Trusts plan to contend they didn’t violate trust deeds, had surrendered their registrations in 2015.
Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service