"Despite the global economic crisis, we grew by 6.7 per cent last year...This year, we are getting mixed signal," Mukherjee said, while noting that indicators are coming good from industrial production data and in terms of business demand and investor confidence.
Finance Minister Pranab Mukherjee on Monday said he has noted reports about reservations Swiss banks have in sharing client details with India, but did not say what course of action the government would take.
While the situation Sitharaman finds herself in may not be that good, how does it stack up against her three immediate predecessors Pranab Mukherjee, P Chidambaram and the late Arun Jaitley?
The finance minister said the consensus between the Centre and states is required to amendment the constitution for implementing goods and services tax.
Finance Minister Pranab Mukherjee said 'yes' in a written reply to the Rajya Sabha when asked whether the chairman of the Empowered Committee of the State Finance Minister has expressed the opinion that it was not feasibile to implement GST from April 1, 2010.
The country's economy is estimated to grow at 7.2 per cent in 2009-10 from 6.7 per cent last fiscal. Inflation on Monday rose to 8.56 per cent in January from 7.31 per cent in the previous month on various food items turning costlier.
Trinamool Congress chief Mamata Banerjee and Samajwadi Party chief Mulayam Singh Yadav on Wednesday threw a spanner in the Congress party's works by proposing a completely different set of names for the post of President.
"There will be some challenges" in the switchover to GST in the short term, Finance Minister Arun Jaitley has warned.
Amid the raging controversy over the note on P Chidambaram vis-a-vis 2G spectrum auction, Finance Minister Pranab Mukherjee would meet Prime Minister Manmohan Singh in New York on Sunday to sort out the issue.
The controversial note on the 2G spectrum allocation by the finance ministry, which created a storm by suggestion that the then finance minister P Chidambram could have prevented the scam by enforcing the spectrum auction, was drafted after consultation with the Prime Minister's Office and officials of the cabinet secretariat.
However, the finance minister did not oblige members in the Rajya Sabha with clarifications on his intervention in the debate on the issue of price rise, even when Communist Party of India-Marxist member Sitaram Yechury sought some more information.
Referring to Finance Minister Pranab Mukherjee's letter to the Prime Minister in the 2G Spectrum case, the Bharatiya Janata Party on Thursday alleged that Home Minister P Chidambaram was involved in the scam and demanded that he should resign or else be sacked immediately.
India's Finance Minister Pranab Mukherjee will arrive in London on Thursday to participate in the two-day G20 Finance Ministers' and Bank Governors' meeting commencing on Friday to discuss the financial crisis.
Even as the Congress Working Committee met on Monday morning to salute its seniormost member Pranab Mukherjee (who became a CWC member in 1978) and put on record its appreciation of his services both in the party and the government, the union finance minister spent his day tying up loose ends and saying his goodbyes.
Finance Minister Pranab Mukherjee and Home Minister P Chidambaram's much-awaited statement before the media on the 11-page note of finance ministry on the 2G scam that indicts Chidambaram is a loss of face for Mukherjee, but it may prove a deceptive victory for Chidambaram at a later stage.
Industrial output growth rate remained flat in April.
After 17 tumultuous years, a nationwide Goods and Services Tax (GST) will rollout from midnight of June 30, overhauling India's convoluted indirect taxation system and unifying the $2 trillion economy with 1.3 billion people into a single market.
For starters, the assumption of nominal (ie real plus inflation) GDP growth of 10.1 per cent for 2009-10 seems on the low side if it is assumed, as Mr Mukherjee said, that the worst of the financial crisis is over. Against this backdrop, the assumption of poor tax buoyancy in 2009-10 is confusing.
Mukherjee's family and relatives paid their last respects clad in PPE kits while conforming to COVID-19 safeguards.
Among those who submitted their respective ministry's suggestions was Minister of Urban Development S Jaipal Reddy who called on the finance minister in New Delhi on Tuesday.
A look at things whose prices will change post Budget.
The Centre is likely to give a 100 per cent income tax relief on the prize money, the players and the support staff earned from their World Cup victory.
GST will also make our exports more competitive and also provide a level playing field to domestic industry to compete with imports, the President said.
Bereft of any ideas, the Finance Minister has brought back the conventional model of higher taxes and higher expenditure, said the former finance minister.
The Finance Ministry on Friday said that no bugging device was found within its premises, including the office of Finance Minister Pranab Mukherjee, and the suspicious adhesive discovered was chewing gum-like material.
He's the first finance minister to present Budgets on either side of an election and the first to do so after a quarter-century gap.
As chairman of the parliamentary standing committee on finance, former finance minister, Yashwant Sinha, says he is committed to expediting the legislative work associated with important Bills, including the direct taxes code (DTC) and Goods and Servies Tax.
The Mamata Banerjee government, which came to power in July last year, has been demanding special package in the form of interest moratorium.
Presenting the Union Budget for the year 2012-13, the Finance Minister informed the Lower House of Parliament that the enrolments into the other system have already crossed 20 crore (200 million) and the Aadhaar numbers generated upto date has crossed 14 crore (140 million).
Meanwhile, Uttarakhand, Kerala and Delhi have already announced cut in value added tax on petrol.
Dubbing the statements of Union ministers Pranab Mukherjee and P Chidambaram on the controversial 2G note as "comical", Bharatiya Janata Party on Thursday said the issue was not one of settling bruised egoes but of fixing responsibility for loss of "lakhs of crores" of revenue in spectrum allocation.
Finance Minister Pranab Mukherjee had earlier given a tax holiday to the Railways till December 31. Banerjee now wants the tax relief extended to March 31.
He also advised Congress chief Rahul Gandhi to "learn" from former defence minister Pranab Mukherjee "lessons on national security."
Corporate America has urged India's Finance Minister to announce a bold Union Budget that would unleash the next generation of economic reforms and help the country realise its full growth potential.
Mukherjee presented the Union Budget in the Parliament on Friday.
Coming Wednesday, Finance Minister (FM) Nirmala Sitharaman will present the 2023 Union Budget - the last full Budget ahead of the 2024 Lok Sabha elections. While India exited 2022 as a relatively bright spot in the global economy, the FM will endeavour to present a Budget that insulates India's economy against global headwinds and recession in advanced economies, while sticking to the path of fiscal consolidation. In this, she is being helped by her core team of trusted advisors.
Sharpening his attack on United Progressive Alliance rival Pranab Mukherjee, Opposition-backed Presidential nominee P A Sangma on Tuesday said Rashtrapati Bhavan was being used as a "dumping ground" for the "failed" former finance minister.
The two major changes include: keeping an option open for supplying more than 3 kg of subsidised foodgrains to general households and widening its reach to include lactating women, destitute and aged people and providing nutritious food to children.
Congress president Sonia Gandhi on Monday had separate meetings with Finance Minister Pranab Mukherjee and Home Minister P Chidambaram, stepping in to defuse the raging row over the controversial finance ministry note on 2G spectrum allocation.
Having rejected the three names proposed by the Trinamool Congress and the Samajwadi Party combine, the Congress is expected to come out with the name of the United Progressive Alliance candidate either on Thursday or Friday.
