The government promised on Friday to remove distortions in excise duty on branded and packed refined oils, which analysts said allowed companies to avoid the levy.
Unfazed by the rising inflation at over 6.0 per cent, Finance Minister Jaswant Singh said on Wednesday that the government was confident it would be contained at 4-4.5 per cent annual average by March end, as projected by the Reserve Bank of India.\n\n
The government on Thursday cleared 47 proposals envisaging Rs 285 crore (Rs 2.85 billion) foreign direct investment, including a proposal by Hewitt Associates to set up a 100 per cent subsidiary in India with Rs 120 crore (Rs 1.2 billion) investment.
Finance Minister Jaswant Singh on Friday assured the nation that acquisition of Advance Jet Trainer aircraft would not be held up for lack of funds.\n\n\n\n
Government is likely to prepay another $3 billion worth of costly foreign loans this fiscal in continuance to the exercise started by Finance Minister Jaswant Singh last fiscal for reducing interest burden and fiscal deficit.
"Although a finance minister cannot speculate about the growth figures," he said that the macro conditions, which enabled the country to achieve 8.4 per cent growth in the second quarter of this fiscal, would in fact improve in the next two quarters.
The Industrial Finance Corporation of India is likely to be merged with the Punjab National Bank or the Bank of Baroda and a final decision is expected to be taken shortly.
The government on Tuesday gave a clean chit to former Finance Minister Yashwant Sinha in the multi-crore stock markets scam of 2001
With international crude oil prices spiralling to a 12-year high at over $37 a barrel, Petroleum Minister Ram Naik pinned hopes on Finance Minister announcing some fiscal measures to avoid a certain increase in prices of petroleum products,
Petroleum Minister Ram Naik on Friday said oil companies will revise prices of domestic LPG only after Finance Minister Jaswant Singh replied to the Budget debate in Lok Sabha on Tuesday next.\n
CII director general Tarun Das said, "It has outlined new strategies for growth with reduction of excise duty."
Setting at rest speculations of an vote-on-account next year, Finance Minister Jaswant Singh on Friday said the government will present a 'full budget,' as the prime minister had made it clear that there would be no early Lok Sabha elections.
Finance Minister Jaswant Singh is likely to trigger off pension reforms for the unorganized sector in this Budget by exempting tax on a standardized pension policy, which could be sold by insurers at a meager price.
Finance Minister Jaswant Singh has decided to communicate with MPs and VVIPs through e-mail to reduce time and improve efficiency.\n\n\n\n
Finance Minister Jaswant Singh will walk a fine line between economic and political priorities next week when he unveils a Budget that could begin urgently needed tax reforms in Asia's third-largest economy.
The government on Tuesday assured the Rajya Sabha that officials found guilty by the Joint Parliamentary Committee, which looked into the stock scam and the temporary freeze on Unit Trust of India's flagship scheme 64 will not be spared.\n\n\n\n
A committee would be set up by the finance ministry to consider the long-pending demand of ex-servicemen for a 'one-rank one-pension' scheme.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances