Latest news with #BudgetEstimates
Mint
2 days ago
- Business
- Mint
‘No plan for GST on UPI transactions exceeding ₹2,000', says MoS Finance in Rajya Sabha. What we know…
The Minister of State (MoS) for Finance Pankaj Chaudhary has clarified in the Rajya Sabha during the Monsoon Session of Parliament that the government does not intend to charge GST on UPI transactions over ₹ 2,000. Speaking in the Upper House on July 22, while answering questions the minister clarified speculations that the Finance Ministry is plans to impose goods and service tax (GST) on unified payments interface or UPI transactions that exceed ₹ 2,000 in value. 'There is no recommendation of levying GST on UPI transactions of over 2000 from the GST Council,' Pankaj Chaudhary stated on July 22, according to an Economic Times report. He added that GST rates and exemptions are decided on the basis of recommendations of the GST Council, which is a Constitutional body comprising of members from both the Centre and States and Union Territories (UTs), it added. The Central government does not foresee any revenue shortfall at this stage and aims to achieve the targets fixed in the Budget Estimates for 2025-26, Minister of State for Finance Pankaj Chaudhary informed Parliament on Tuesday. As per the Budget, the Centre has estimated the fiscal deficit for 2025-26 at 4.4 per cent of GDP, amounting to ₹ 15.69 lakh crore. In a written reply in the Rajya Sabha, the minister said the Central government supports state finances through Finance Commission grants, Centrally Sponsored Schemes, and Special Assistance as loans to states for capital expenditure. Total resources being transferred to the states, including the devolution of state's share in taxes, grants/loans and releases under Centrally Sponsored Schemes, etc, in Budget Estimates for 2025-26 is about ₹ 25.01 lakh crore, he said. In reply to another question, Chaudhary said, as per inputs received from Public Sector Banks (PSBs), as on March 31, 2025, 96 per cent staff are in position against their business requirement. The small proportion of gap is attributable to attrition on account of superannuation and other usual factors, including unplanned exits, he said. Further, during the last 5 years (FY 2020-25), banks have recruited 1,48,687 employees, and for FY 2025-26, recruitment of 48,570 employees is underway, he added. Replying to another question, Chaudhary said, insurers are required to decide on the request for cashless authorisation within 1 hour of receipt of such request and grant final authorisation within 3 hours of the receipt of discharge authorisation request from the hospital as per IRDAI Master Circular on Health Insurance Business dated May 29, 2024. However, the data related to the average time taken by insurance companies and third-party administrators (TPAs) for the claim settlement is not maintained by IRDAI, he said. IRDAI has informed that during FY 2023-24, 58.39 per cent of total claims were settled through cashless mode in terms of count and 66.16 per cent in terms of amount, he said. As per the data provided by National Health Authority, he said, the number of hospitals onboarded to National Health Claims Exchange (NHCX) is 450 as on March 28, 2025. In another reply, Chaudhary said, enforcement action has been taken against 886 entities during the period April 1, 2024, to June 30, 2025, for violation of provisions of SEBI (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Market) Regulations, 2003. Continuous monitoring of key parameters is done to assess the effectiveness of measures implemented in the market, he said. Surveillance systems, data analytics tools and digital forensics tools are constantly upgraded to detect manipulations, he added.
New Indian Express
3 days ago
- Business
- New Indian Express
Telangana govt releases Rs 205 crore for Warangal airport land acquisition
WARANGAL: The Telangana government on Friday issued orders for the release of Rs 205 crore for land acquisition for Mamnoor airport in Warangal. The funds will compensate farmers from Nakkalapally, Nalakunta, and Gunturpally villages, where additional land is being acquired. Administrative sanctions and fund withdrawals for the compensation were also approved. The order was issued by the Telangana Transport, Roads and Buildings department, with the funds allocated under the Budget Estimates (BE) for 2025–2026. The order was released by Principal Secretary Sundeep Kumar Sultania. In February 2025, the Union government approved the operationalisation of Mamnoor Airport, waiving the 150-kilometre restriction for new airport developments near Rajiv Gandhi International Airport (RGIA). With 696 acres already available, the Airports Authority of India (AAI) requires an additional 253 acres to make the airport operational. Warangal MP Dr Kadiyam Kavya stated that the Congress government is fulfilling a long-standing dream of the people by releasing `205 crore for land acquisition. She thanked Chief Minister Revanth Reddy for supporting the project and said that the state had secured necessary clearances from the Centre. She urged the Union Ministry of Civil Aviation to act swiftly and expedite the airport's revival.
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Business Standard
6 days ago
- Business
- Business Standard
'Govt does not foresee revenue shortfall, aims to achieve deficit target'
The Central government does not foresee any revenue shortfall at this stage and aims to achieve the targets fixed in the Budget Estimates for 2025-26, Minister of State for Finance Pankaj Chaudhary informed Parliament on Tuesday. As per the Budget, the Centre has estimated the fiscal deficit for 2025-26 at 4.4 per cent of GDP, amounting to Rs 15.69 lakh crore. In a written reply in the Rajya Sabha, the minister said the Central government supports state finances through Finance Commission grants, Centrally Sponsored Schemes, and Special Assistance as loans to states for capital expenditure. Total resources being transferred to the states, including the devolution of state's share in taxes, grants/loans and releases under Centrally Sponsored Schemes, etc, in Budget Estimates for 2025-26 is about Rs 25.01 lakh crore, he said. In reply to another question, Chaudhary said, as per inputs received from Public Sector Banks (PSBs), as on March 31, 2025, 96 per cent staff are in position against their business requirement. The small proportion of gap is attributable to attrition on account of superannuation and other usual factors, including unplanned exits, he said. Further, during the last 5 years (FY 2020-25), banks have recruited 1,48,687 employees, and for FY 2025-26, recruitment of 48,570 employees is underway, he added. Replying to another question, Chaudhary said, insurers are required to decide on the request for cashless authorisation within 1 hour of receipt of such request and grant final authorisation within 3 hours of the receipt of discharge authorisation request from the hospital as per IRDAI Master Circular on Health Insurance Business dated May 29, 2024. However, the data related to the average time taken by insurance companies and third-party administrators (TPAs) for the claim settlement is not maintained by IRDAI, he said. IRDAI has informed that during FY 2023-24, 58.39 per cent of total claims were settled through cashless mode in terms of count and 66.16 per cent in terms of amount, he said. As per the data provided by National Health Authority, he said, the number of hospitals onboarded to National Health Claims Exchange (NHCX) is 450 as on March 28, 2025. In another reply, Chaudhary said, enforcement action has been taken against 886 entities during the period April 1, 2024, to June 30, 2025, for violation of provisions of SEBI (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Market) Regulations, 2003. Continuous monitoring of key parameters is done to assess the effectiveness of measures implemented in the market, he said. Surveillance systems, data analytics tools and digital forensics tools are constantly upgraded to detect manipulations, he added.
Time of India
6 days ago
- Business
- Time of India
Govt does not foresee revenue shortfall, aims to achieve deficit target: MoS Finance
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel The Central government does not foresee any revenue shortfall at this stage and aims to achieve the targets fixed in the Budget Estimates for 2025-26, Minister of State for Finance Pankaj Chaudhary informed Parliament on per the Budget, the Centre has estimated the fiscal deficit for 2025-26 at 4.4 per cent of GDP, amounting to Rs 15.69 lakh a written reply in the Rajya Sabha, the minister said the Central government supports state finances through Finance Commission grants, Centrally Sponsored Schemes , and Special Assistance as loans to states for capital resources being transferred to the states, including the devolution of state's share in taxes, grants/loans and releases under Centrally Sponsored Schemes, etc, in Budget Estimates for 2025-26 is about Rs 25.01 lakh crore, he reply to another question, Chaudhary said, as per inputs received from Public Sector Banks (PSBs), as on March 31, 2025, 96 per cent staff are in position against their business small proportion of gap is attributable to attrition on account of superannuation and other usual factors, including unplanned exits, he during the last 5 years (FY 2020-25), banks have recruited 1,48,687 employees, and for FY 2025-26, recruitment of 48,570 employees is underway, he to another question, Chaudhary said, insurers are required to decide on the request for cashless authorisation within 1 hour of receipt of such request and grant final authorisation within 3 hours of the receipt of discharge authorisation request from the hospital as per IRDAI Master Circular on Health Insurance Business dated May 29, the data related to the average time taken by insurance companies and third-party administrators (TPAs) for the claim settlement is not maintained by IRDAI, he has informed that during FY 2023-24, 58.39 per cent of total claims were settled through cashless mode in terms of count and 66.16 per cent in terms of amount, he per the data provided by National Health Authority, he said, the number of hospitals onboarded to National Health Claims Exchange (NHCX) is 450 as on March 28, another reply, Chaudhary said, enforcement action has been taken against 886 entities during the period April 1, 2024, to June 30, 2025, for violation of provisions of SEBI (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Market) Regulations, monitoring of key parameters is done to assess the effectiveness of measures implemented in the market, he systems, data analytics tools and digital forensics tools are constantly upgraded to detect manipulations, he added.
West Australian
16-07-2025
- Health
- West Australian
Vape use among teens dropping for the first time as government regulation stems access
Rates of vaping among young people have started to drop for the first time in signs tighter government regulation is turning the tide. Latest figures from the Generation Vape study reveal 85 per cent of Australian teens aged 14-17 have never vaped, up from 82 per cent in 2023. The proportion of young people who have never smoked is also at its highest too, at 94 per cent. It's a promising sign teens are turning away from nicotine products, with chief investigator of the study Professor Becky Freeman saying the 'social acceptability of vaping over the past few years has shifted'. 'Young people tried vaping as it was marketed to them as fun, 'safe' and full of great flavours, but increasingly young people report the realities of vaping addiction and harm to their wellbeing,' Professor Freeman said. Access to vape products has also declined since the introduction of federal vape laws in July 2024 that aim to limit the sale of vapes to pharmacies only, regardless of nicotine content. About one in four young people reported purchasing their own vape, down from roughly one in three before the laws came into play. Tobacconist and vape shops remained a major source of vape sales with about one in three teens buying from such a retailer, highlighting ongoing difficulties with regulation and enforcement. Chair of the Cancer Council's tobacco issues committee Alecia Brooks said the latest figures were encouraging indicators that vaping laws are protecting young people, but that some retailers 'continue to exploit young people'. 'Some tobacconists and vape shops are still blatantly selling illegal vapes to young people,' Ms Brooks said. It comes as calls to WA's poisons hotline from concerned parents worried their babies have been exposed to vapes have tripled just six months into the year. Speaking on the matter in Budget Estimates earlier this month, Health Minister Meredith Hammat said the spike in calls reflected 'a growing awareness in the community about the harmful nature of vapes'. Since January 2024 the Therapeutic Goods Administration and Australian Border Force have seized more than 10 million illicit vapes with a street value of nearly half a billion dollars. Federal Health Minister Mark Butler said 'vaping rates for young Australians have now turned the corner'. 'Our education and prevention campaigns as well as support to deter people from taking up vaping and smoking or to quit are making a difference,' he said.
