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It was three weeks since Tamil Nadu Chief Minister Jayalalithaa was wheeled into the Apollo Hospitals. It was taken much of time for Governor Vidyasagar Rao to pull the Tamil Nadu Government out of a state of ICU that it was slowly tumble into. With Finance Minister O Panneerselvam was given temporary charge of Chief Minister portfolios. Apollo Hospitals has already indicated that Jayalalithaa will have to stay longer and no time is specified yet. Opposition parties in Tamil Nadu are in wait and watch mode. The anxiety in Tamil Nadu's political matters are increasing. Part of the reason is the lack of reliable information about the CM's real condition.
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This is the highest ever black money disclosure that at least INR 65,250 Crores ($9.8 Billion) of undisclosed assets were declared under the Govt Income disclosure scheme by more than 64K declarations, yielding the government INR 29,362 Crores ($4.41 Billion) in tax revenues. While the black money declarations will be more once all the manual and online filings of undisclosed incomes and assets are promptly filed at the end of the fourth month window on September 30th are compiled, the Government will get around INR 14,700 Crores or half of the due taxes, this fiscal year.  Government had proffered a one time feasibility to holders of income and assets that had been illegally unpaid taxes, to disclose their unpaid taxes with penalty of 45%.  (Also Read about India's largest spectrum auction worth INR 5.63 lakh Crores)

 Previous year under a similar scheme for 644 foreign black money holders declared undisclosed foreign income and assets, INR 2,428 Crores was collected as taxes. The average declaration per individual or entity comes to INR 1 Crore.
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The Andhra Pradesh government has on friday decided for clearance of contentious Swiss Challenge Model for selecting the master developer plan for new capital city Amaravati. The state Cabinet said that under the chairmanship of Chief Minister Chandrababu Naidu, approved the Swiss Challenge model after a committee headed by Yanamala Ramakrishnudu (Finance Minister) cleared the proposal. Preparation media at the end of the Cabinet meeting, the Chief Minister said a Singapore consortium of Ascendas-Singbridge and Sembcorp Development Limited had submitted a proposal on October 30 last year under Swiss Challenge to be the master developer of Amaravati. We have thoroughly perused the proposal at various levels and the high-powered committee gave its approval in the last week. We discussed this in the Cabinet meeting and approved the Singapore consortium’s proposal, Chandra Babu said. Singapore government has 74.5 % equity in the consortium.
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Yanamala Ramakrishnudu (Finance Minister) said Better employment opportunities are being created in private sector in AP State with the state's intervention as industrial investments worth INR 11,500 crore are set to be made in the state in 2016-17. With the economic growth rate of 10.99% in 2015-16 and targeted growth of 15% in 2016-17 fiscal, better job opportunities will be created in the private sector. As many as 77,737 posts of different cadres were presently vacant in various departments of the state government.
The total number of sanctioned posts was 4,83,491 in that 4,05,754 employees were currently on government rolls in various departments. The total vacancies 22,226 were state cadre and multi-zonal posts. The vacancies include posts to be filled by direct recruitment, promotion and transfer from other services. The direct recruitment to any cadre is usually around 25 to 30% of the total cadre strength. Therefore, the posts available for filling through direct recruitment is around 20,000, Yanamala added. The state Cabinet, at its meeting on April-2, gave the go-ahead for filling up the 20,000 vacancies for which the process would be initiated soon. The last grade posts are usually filled through outsourcing of services or by contracting services on the short-term basis,he said.


(Also read about AP aims investments worth INR 20,000 crores in tourism-Click here )

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Arun Jaitley (Finance minister) has invited businesses in New South Wales to invest in India by saying the country wants foreign sovereign wealth funds to be part of NIIF, pension and insurance funds in India. Mr Jaitley also highlighted various initiatives and reforms measures undertaken by the govt to boost the economy which is growing at a rate of above 7.5 %. Jaitley said india needs foreign direct investment (FDI), especially in manufacturing and infrastructure sectors, he said state governments are taking keen interest and competing among themselves to attract foreign investments.


Baird has showed his keen interest in investment opportunities in india particularly in the infrastructure sector. He highlighted the importance of communicating the information to larger business community in Australia to enable them to understand the opportunities available in India.


Baird also informed the finance minister that he intends to visit India during the next 'Vibrant Gujarat' summit in January-2017.
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Finance Minister Arun Jaitley said as the world becomes extremely difficult and challenging, India should keep the reform momentum going while putting resources in areas where there are lack. Speaking at the opening day of the three day India-IMF Conference, Advancing Asia Investing for the Future he hoped to get through some important measures over the next few months for growth oriented policies. We have been trying to do our best as far as India is concerned, not withstanding the global environment being extremely difficult and challenging. 
The challenge before India is to keep the reform momentum on one hand and take the best advantage of areas where we are doing reasonably well and then putting a large part of our national resource in areas where we are lacking. Agriculture, infrastructure creation, emerging private sector, improving health of banks are the challenges the government faces, he said. In that realistic analysis, we are attempting to address each one of these challenges. Jaitley hoped that India would continue to grow at a slightly more improved pace in 2016-17 and continue to retain its position as fastest growing major economy in the world.
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Saying India as a haven of stability amid a weak economic environment globally, the finance minister (Arun Jaitley) said efforts will have to be made to sustain growth. Prevailing economic scenario across the world is challenging to say the least. This year’s Budget was proposed and presented at a time of unusual volatility in the international economic environment, markets are fearful, the global recovery may be faltering. Jaitley said against this background, india stands out as a haven of stability and opportunity at the Civil Accounts Day 2016.  He said that india's macro economics factors are stable and the government is committed to fiscal consolidation as well as low inflation. He added in world india’s economic growth is among the highest and the achievements are remarkable because they have been accomplished in the face of weak exports demand and a second successive year of poor rainfall.
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Arun Jaitley (Finance Minister) said that India has a great strength to be among-st leading nations in a technology driven forth industrial revolution that is expected to come about. He spock after inaugurating a two day seminar titled Adjudication, Regulation and Telecommunication (ART) of convergence in New Delhi, Finance Minister said that regulatory and adjudicating mechanisms have to keep pace with rapidly evolving technologies in the fields of information technology, telecommunications and broadcasting. Jaitley said that he would convey it to the telecommunications minister Ravi Shankar Prasad to consider strengthening of jurisdiction of the Telecom Disputes Settlement and Appellate Tribunal (TDSAT).
Jaitley also said all parties involved in adjudication, regulation policy framers should keep themselves informed of the latest developments in the field. Attorney General of India, Mukul Rohtagi and member B.B.Srivastava (TDSAT) also spoke on the occasion.
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