Industry is demanding a cut in repo rate to help revive India's sagging GDP growth that hit decade's low of 4.5 per cent in the third quarter of 2012-13.
Spectrum qualifies for the infrastructure criteria, say ministry officials.
US nominee for World Bank president, Ajay Banga, has tested positive for COVID-19 following which the meetings scheduled during his two-day visit to India have been cancelled. According to a Finance Ministry statement, Banga's meeting with Nirmala Sitharaman would not happen as he is in quarantine. "During routine testing, Ajay Banga tested positive for COVID-19 but remains asymptomatic.
The rupee has lost over 2.5 per cent in the two trading days of this week and nearly 10 per cent in the past six weeks on concerns of scaling down of stimulus packages by the US.
Many bureaucrats have in the recent past switched sides to join companies.
7 key areas that the Budget must address to re-energise the infrastructure sector, suggests Vinayak Chatterjee.
This will enable security agencies to tap any call, real-time chat and data without help from the operators.
The rate of cash withdrawals over deposits was almost double in Uttar Pradesh, Andhra Pradesh and Telangana, according to the latest analysis submitted by the RBI to the finance ministry.
Provident fund body may get support to ensure interest rate comparable with other savings instruments.
One wing of the government's definition of what constitues infrastructure is different from that of another and this needs to be resolved fast.
The finance ministry has already raised the fiscal deficit target to a more acceptable level of 5.3 per cent.
In the first phase, most of the outdated regulations in the state and central Acts will be removed. Further, compliances with regard to annual inspections, licence renewal, and storage of multiple data will be eased.
The Union Cabinet on Thursday cleared setting up of Cabinet Committee on Investment for providing expeditious clearances to major projects worth over Rs 1,000 crore (Rs 10 billion).
Post-sale, the government stake would be 75 per cent, which will help NTPC to comply with the minimum public shareholding norms.
As the United States focuses on the Indo-Pacific, in particular the Quad, the Biden administration needs to address India's ties with Russia and its 'downward trend of democratic values and institutions', said a report by the Democratic Party of the Senate Foreign Affairs Committee.
He will be the first bureaucrat to head the central bank in almost five years.
Finance Ministry officials are engaging in hectic parleys with the PSUs to speed up the process so that the disinvestments can take place in the December and March quarters.
The road transport ministry has asked the National Highways Authority of India (NHAI) to ascertain the findings of a report by the World Bank's Institutional Integrity Unit. According to the report, contractors paid bribes and gifts to influence the actions of NHAI officials and consultants.
'Modigate is snowballing into a huge thing with the electorate. The BJP is in for huge punishment by the electorate.'
Finance Minister Pranab Mukherjee was aware of the contents of the controversial 2G note which was issued as an office memorandum at the insistence of the Prime Minister's Office, a top official told the Joint Parliamentary Committee on Thursday.
Senior finance ministry official said the economic affairs department cleared the proposals on Friday.
As part of the exercise, each family will get complete ownership of the businesses it manages while scrapping the holding company.
The government is likely to file draft papers for the mega initial public offering of LIC with market regulator Sebi by next week, while a portion of the issue would be reserved for anchor investors, a top official said on Wednesday.
The two groups have another JV, Wadia BSN, set up in 1996 to launch Groupe Danone's products from its global portfolio. However, nothing has been launched through the JV till date and Danone is in negotiations with the Wadias to dissolve the JV.
This is not her first stint in North Block or in leading a major economic ministry. She started Prime Minister Narendra Modi's first term as minister of state for finance, was made the commerce minister, and then became the defence minister.
The central government has appointed India Invest Economic Foundation, a private agency, as consultant for operationalisation of new pension scheme by this month.
Earlier in the day, President Ram Nath Kovind accepted Murmu's resignation as the Lt Governor of Jammu and Kashmir.
'The 2017 Doklam stand-off in Bhutan, the 2018 Maldives crisis, and the 2020 Nepal Kalapani border dispute shows how Beijing has shot off these countries' shoulders to target India.'
The finance ministry on Monday said the ability of the Reserve Bank to intervene in the forex market to arrest the fall in rupee is limited, even as the Indian currency declined to a 32-month low of Rs 51.50 per US dollar in the early trade.
Finance Minister Pranab Mukherjee, in the Budget, announced facilitating the establishment of dedicated infra debt funds through special purpose vehicles for attracting foreign investment in the infrastructure sector.
The Reserve Bank will announce draft guidelines for giving new banking licences in the next few days, the Finance Ministry said on Monday.
The state's joblessness is three times higher than the national average of 7.8 per cent.
"RBI has been following a good policy. These are the ways of correcting international imbalances," Department of Economic Affairs Secretary R Gopalan said on the sidelines of a seminar organised by ICRIER in New Delhi.
The posts of finance secretary and secretary, economic affairs department generate ambiguities over ownership of the finance ministry's most important annual exercise.
The Union Cabinet has approved amendments to the General Insurance Business (Nationalisation) Act, paving the way for privatisation of government-owned insurers. The amendments, approved by Cabinet, will remove the clause for the Centre to hold at least 51 per cent in public sector insurance companies at any given time. It will also have an enabling provision for the transfer of management control from the government to the potential buyer of the public sector insurance company. The finance ministry will move amendments to the insurance Act in the ongoing Parliament session.
From defending the shock announcement of demonetisation to spearheading the remonetisation drive that included the cumbersome process of printing and supplying new Rs 500 and Rs 2,000 notes, his calm composure brought a sense of serenity to an otherwise chaotic situation.
Finance Secretary Hasmukh Adhia vacates his post on November 30 and Expenditure Secretary Ajay Narayan Jha, the second seniormost bureaucrat in the finance ministry, retires on January 31, the day before Jaitley presents the 2019-20 interim budget.
The government on Friday said it has started implementing liberal FDI rules under which proposals up to Rs 1,200 crore (Rs 12 billion) foreign equity would be cleared by the Finance Minister without seeking approval of the Cabinet Committee on Economic Affairs.
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