The talks took place on the sidelines of the G-20 foreign ministers' meeting in the Indonesian city of Bali.
FM P Chidambaram has endorsed RBI's monetary policy. He expressed concerns about the gap in India's and the US' interest rates and will discuss it with RBI's Governor Y V Reddy.
For his first Budget in July 2014, Jaitley inherited a fiscal deficit target of 4.1 per cent of GDP. From 4.1 per cent, the fiscal deficit came down to 3.4 per cent by 2018-19, with two slippages from the budgeted targets, in 2017-18 and 2018-19, the former due to introduction of the GST, says Arup Roychoudhury.
While the Cabinet last week approved an amendment to the Insurance Laws (Amendment) Bill, 2008, to raise the foreign direct investment in the sector from 26 per cent to 49 per cent, the proposal needs to be cleared by Parliament.
Budget has already bombed at the box office and passing it without a revisit will be a mockery of the exercise though any modification may be short lived and perfunctory, observes V Ranganathan.
Chidambaram also asks these not to rush for bulk deposits to bloat balance sheets.
The best available recourse to keep the defence sector healthy, is to source most of our requirement within the country so that procurement outlays under both the Revenue and Capital heads flow within the country, recommends says Brigadier S K Chatterji (retd).
Reliance Industries chief Mukesh Ambani on Thursday met Finance Minister P Chidambaram and other senior officials in the ministry.
Foreign institutional investors added $20.10 billion in equities while they pulled out $7.97 billion from the debt market, resulting in total net flows of $12.13 billion.
After holding discussions with the FM, the Sebi chief said the government thought it was an opportune time to levy the LTCG tax as the "markets are booming."
Excluding the pension outgo, the allocation in the Union Budget for the armed forces stands at Rs 3.62 lakh crore.
The government on Saturday said it will review policies to facilitate the State Bank of India get new capital for growing business and international presence.
India Inc on Thursday pitched for continuation of reforms while ensuring tax and policy stability in the forthcoming Budget to prop up the economy hit hard by the COVID-19 pandemic. In the virtual pre-Budget consultation held with Finance Minister Nirmala Sitharaman, industry chambers said that government measures will help firmly entrench the nascent signs of recovery being currently seen in private investment. Capital expenditure by the government through enhanced infrastructure spending should in the meantime continue to support growth, CII president TV Narendran said.
FM has asked brokers to exercise self-regulation for capital markets and also advised them to corporatise. He has commissioned a World Bank study to suggest an effective model for India.
The RBI had opened special swaps windows to attract deposits from non-resident Indians and allow oil-marketing companies to source dollars.
He said the total capital requirement for state-run banks is Rs 455 billion ($7.6 billion) in 2014/15 fiscal year, much lower than the Rs 113 billion provided for recapitalisation in the interim budget in February.
The BJP's investor cell has asked the Prime Minister to gag finance minister P Chidambaram from making any statements, saying his 'abnormal behaviour' was creating more trouble in the capital market.
Two years ago, India was touted as a rare bright spot in a gloomy global economy with GDP growth outpacing a slowing China.
A sovereign bond float continued to be among the range of options to address the current account deficit (CAD), Finance Minister P Chidambaram said on Tuesday, even as former Finance Minister Yashwant Sinha asked him to tell Parliament the Centre would not countenance that measure.
RBI's elbow room is limited in the matter of capital inflows because the finance minister will not ban PNs.
Leading bankers on Friday welcomed the Union Budget 2010-11, in particular the measures on farm loan repayment, capital infusion into PSBs and interest rate subventions to needy sections, saying that these would make the system healthier.
The US and the European capital markets closed on a strong note on Monday night, while the East Asian market staged a rally on Tuesday morning, he said. It appears that the measures announced by various governments and central banks have not only infused greater liquidity into the markets but have also helped in restoring the confidence to a significant degree, the finance minister added.
There's a 13 per cent increase over last year, in an effort to put its flagging revenues back on track.
Afghanistan witnessed a series of terror attacks in the last few weeks as the US aimed to complete the withdrawal of its forces from Afghanistan by August-end, ending a nearly two-decade of its military presence in the war-ravaged country.
The diamond industry found nothing to cheer about in the Union Budget for 2009-10 presented by Finance Minister Pranab Mukherjee. Industry players in Surat - the diamond capital of India - described the Budget as "disappointing", since the beleaguered industry was expecting a special package to counter the recession.
The finance ministry will kick-start the exercise to prepare the Union Budget for financial year 2022-23 (FY23) from October 12, according to an official notification released on Monday. "The pre-Budget meetings as well as the meetings to discuss the revised estimates will start from October 12 and will continue till the second week of November," according to the Budget circular of the Department of Economic Affairs' Budget Division. The Union Budget is expected to be announced on February 1, as has been the practice of the past few years.
Days after the government went public with its intent to examine a Sebi order in the NSE matter, its outgoing chairman Ajay Tyagi on Wednesday made it clear that the markets regulator did not "dilute" any of the quasi-judicial verdicts. The comments assume significance as they come after Finance Minister Nirmala Sitharaman, as per reports, recently said the government is examining if Sebi has taken "necessary punitive" action in the case. In a media interview, the FM had said the government was analysing if there had been "enough application of mind in dealing with this" and if after applying its mind, Sebi took adequate corrective steps.
Finance Minister P Chidambaram on Friday asked market regulator SEBI and the two premier bourses, National Stock Exchange and Bombay Stock Exchange, to chalk out a detailed roadmap to prevent manipulation in regional stock exchanges and misuse of sub
Meet to review progress on lending, impact of recent rate cuts and what is being done on NPAs, among other things
He maintained it is not 'hope' but the 'fact' of a stable government provided by UPA and the numerous measures taken in the last 18 months that have provided stability and strength to the Indian economy.
Announcing the measures, Finance Minister P Chidambaram said the Reserve Bank of India had agreed to release Rs 25,000 crore immediately to lending institutions.
Loans for Indian airlines have dried up as banks have become cautious to lend to the sector.
Even if the same party returns to power, what is important to debate is that having introduced an entitlement, how challenging it is to reverse such decisions, says Mukesh Butani.
The FM said an announcement with regard to the additional steps will be made after consulting Prime Minister Narendra Modi.
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Chidambaram said recent measures taken by the Reserve Bank of India were aimed at reducing volatility in the financial market, where the rupee has dropped to record lows.
There has been nothing consolidated in the Budget for this section that may transform entrepreneurship in any meaningful way
It's not just the archaic tax laws but the anomalies that make the taxpayer's life difficult.
Anil Ambani's radio business, Reliance Media World, which operates radio station BIG FM 92.7, will list on the Bombay Stock Exchange and the National Stock Exchange on Thursday. This makes BIG FM 92.7 the second radio station to be listed on the stock exchanges.
