Pune (Maharashtra) [India], September 17 (ANI/PNN): Voltreum will soon be launching "Volt-X", a blockchain-based peer-to-peer (P2P) energy trading application as well as a cryptocurrency token for seamless energy purchases and payments. The company's goal is to help solve one of the most critical problems affecting humankind - increasing energy demand and planet-damaging climate change.

New Delhi [India], June 23 (ANI): The Ministry of Power's scheme to liquidate overdues that distribution companies (discoms) owe to generation companies (gencos) can release the past receivables of the renewable energy (RE) sector of Rs 9,000 crore over the next two fiscals, CRISIL Ratings said in a report on Thursday.

Berlin [Germany], May 3 (ANI): Prime Minister Narendra Modi on Monday said the New India doesn't think only of a secure future alone but takes risks.

Mumbai, April 25: A 40-year-old businessman from Andheri lost Rs 21.17 lakh from his credit card account and that of his wife after a cyber fraudster used the credit cards to shop for electronic goods. The businessman realised the fraud when his wife alerted him that she had received transaction alerts for Rs14.1 lakh to her credit card account. He later figured […]

New Delhi Mar 31 PTI The Centres fiscal deficit at the end of February stood at 827 per cent of the full year budget target mainly on account of higher expenditure according to government data released on ThursdayIn the last financial year the fiscal deficit or gap between the expenditure and revenue was 76 per cent of the Revised Estiamate RE of 2020-21In actual terms the deficit stood at Rs 1316595 crore at the end of February this year as per the data released by the Controller General of Accounts CGAThe central governments total receipts stood at Rs 1827 lakh crore or 839 per of the RE of Budget 2021-22 It was 882 per cent of the RE of 2020-21 in the corresponding periodThe governments total expenditure was at Rs 3143 lakh crore or 834 per cent of the current years RE It was 817 per cent of RE in the corresponding period last financial yearThe government expects the fiscal deficit to be at 69 per cent of the GDP or Rs 1591 lakh crore in the current financial year ending March 31 2022 PTI NKD CS RAM

New Delhi Feb 28 PTI The central governments fiscal deficit at end-January worked out at 589 per cent of the annual budget target for 2021-22 according to official data released on Monday The fiscal deficit was 668 per cent of Revised Estimate RE of 2020-21 during the corresponding period of the last fiscal In actual terms the deficit was Rs 937868 crore at end-January 2022 against upwardly revised annual estimate of Rs 1591 lakh crore according to the data released by the Controller General of Accounts CGA The countrys fiscal deficit -- the difference between total revenue and total expenditure of the government -- is projected to be higher at 69 per cent this fiscal ending March 2022 as against 68 per cent estimated earlier The total receipts of the government at end-January were Rs 1871 lakh crore or 859 per cent of the Revised Estimates RE for 2021-22 The collection was about 80 per cent of the RE of 2020-21 in the corresponding period last fiscal The tax net revenue so far were at 877 per cent of the RE of 2021-22 It was 82 per cent of RE 2020-21 in the corresponding period of last fiscal In actual terms the net tax revenue stood at Rs 1547 lakh crore during April-January 2021-22 The CGA data further said central governments total expenditure at end-January stood at Rs 2809 lakh crore or 745 per cent of this years RE It was 73 per cent of RE in the corresponding period The fiscal deficit of the government for 2022-23 is estimated to be Rs 1661196 crore The Revised Estimate for 2021-22 indicate a fiscal deficit of Rs 1591089 crore as against the Budget Estimate of Rs 1506812 crore The fiscal deficit for 2020-21 was 93 per cent of the Gross Domestic Product GDP PTI NKD MR MR

New Delhi [India], February 9 (ANI): Finance Minister Nirmala Sitharaman sprung a surprise in Budget 2022 by setting aside a whopping Rs 7.50 lakh crore as capital expenditure for FY23 in Budget 2022, which domestic credit rating agency Crisil on Wednesday said "is not as large as it seems".

New Delhi Jan 20 PTI In a bid to spur capital expenditure the Finance Ministry has relaxed spending norms for the fourth quarter with a view to boost economic activities slowed down due to the impact of COVID-19 As per the existing guidelines more than 33 per cent and 15 per cent of the budget estimates BE shall be permissible to be spent by ministries and departments in the last quarter and last month of the financial year respectively It has now been decided to relax the upper limit of 33 per cent of the BE as applicable for the last quarter of the current financial year as a one-time measure the Department of Economic Affairs under the Finance Ministry said in an office memorandum This is subject to the condition that the ceiling of revised estimate RE for 2021-22 is not exceeded the memorandum dated January 19 2021 said For the items of capital expenditure the ceiling of 15 per cent of the BE in the last month for this fiscal is also relaxed provided the capital or overall expenditure is within the RE 2021-22 ceiling it said In view of relaxation ministries and departments have been asked to carry out consequential modifications in their quarterly expenditure plan QEPmonthly expenditure plan MEP The relaxation is applicable with immediate effect for the current financial year or until further order PTI DP RDK RDK

New Delhi Nov 29 PTI The Ministry of Railways needs to be more realistic in its estimation of demand for supplementary grants the Comptroller and Auditor General CAG said in a report tabled in the Lok Sabha on MondayAccording to the Financial Audit of the Accounts of Union Government for the financial year ending in March 2020 the Railway Ministry was provisioned Rs 50014023 croreMinistry of Railways had obtained supplementary grants of Rs 81751 crore in anticipation of higher expenditure at grant level However the final expenditure was even less than the original provisionsThis indicates the need for a more realistic estimation of supplementary requirements after considering up-to-date expenditure and requirements at grant level the report readIt also stated that the unsanctioned expenditure of the ministry was recorded at Rs 499987 crore and no steps have been taken to improve the situationExpenditure incurred by Indian Railways in excess of sanctioned estimates expenditure incurred without detailed estimates and miscellaneous overpayments et cetera are recorded in objection books by the zonal railways administration and treated as an unsanctioned expenditureDuring Financial Year 20 unsanctioned expenditure of Rs 499987 crore involving 3426 cases was incurred by Indian Railways while in Financial Year 19 there was an unsanctioned expenditure of Rs 5003 crore covering 3464 cases Thus no steps had been taken to improve the situation it saidThe Railways also reported savings of Rs 4384539 crore under the revenue section the report said adding they were mainly due to lesser appropriation to Railways funds and lesser operating expenses under fuelSavings of Rs 1289882 crore under capital section was stated to be on account of less expenditure than budgeted from Rashtriya Rail Sanrakshan Kosh and other Railways FundsThe ministry further intimated that the appropriation to Railway Funds had been reduced on account of lower resource availability at RE stage due to less revenue generation the CAG report stated PTI SLB NSD NSD

New Delhi Nov 29 PTI The Ministry of Railways needs to be more realistic in its estimation of demand for supplementary grants the Comptroller and Auditor General CAG said in a report tabled in the Lok Sabha on MondayAccording to the Financial Audit of the Accounts of Union Government for the financial year ending in March 2020 the Railway Ministry was provisioned Rs 50014023 croreMinistry of Railways had obtained supplementary grants of Rs 81751 crore in anticipation of higher expenditure at grant level However the final expenditure was even less than the original provisionsThis indicates the need for a more realistic estimation of supplementary requirements after considering up-to-date expenditure and requirements at grant level the report readIt also stated that the unsanctioned expenditure of the ministry was recorded at Rs 499987 crore and no steps have been taken to improve the situationExpenditure incurred by Indian Railways in excess of sanctioned estimates expenditure incurred without detailed estimates and miscellaneous overpayments et cetera are recorded in objection books by the zonal railways administration and treated as an unsanctioned expenditureDuring Financial Year 20 unsanctioned expenditure of Rs 499987 crore involving 3426 cases was incurred by Indian Railways while in Financial Year 19 there was an unsanctioned expenditure of Rs 5003 crore covering 3464 cases Thus no steps had been taken to improve the situation it saidThe Railways also reported savings of Rs 4384539 crore under the revenue section the report said adding they were mainly due to lesser appropriation to Railways funds and lesser operating expenses under fuelSavings of Rs 1289882 crore under capital section was stated to be on account of less expenditure than budgeted from Rashtriya Rail Sanrakshan Kosh and other Railways FundsThe ministry further intimated that the appropriation to Railway Funds had been reduced on account of lower resource availability at RE stage due to less revenue generation the CAG report statedIt also stated that during FY 20 there was excess disbursement of Rs 3263779 crore over authorization involving two grants of Ministry of Defence and one grant pertaining to the revenue department PTI SLB NSD NSD