A new series of coins will be unveiled soon carrying the Rupee symbol, Finance Minister Pranab Mukherjee announced in the Budget.
Government will lay greater emphasis on social sectors, finance minister said.
Anticipating an adverse impact in view of a bad monsoon, Finance Minister Pranab Mukherjee on Tuesday set an ambitious direct tax collection target for the current fiscal, revising it upward to Rs 4 lakh crore, up Rs 30,000 crore (Rs 300 billion) over the Budget estimates.
Finance minister Pranab Mukherjee on Saturday clarified doubts raised by overseas Indians over double taxation of global income of resident Indians while speaking at the Pravasi Bharatiya Diwas 2011.
Issuing the clarification after Minister for Overseas Indian Affairs Vyalar Ravi brought it to his notice, Mukherjee spelt out what makes for a resident Indian.
Briefing MPs on the Lokpal issue at a meeting of the Congress Parliamentary Party, Mukherjee told them that while the fundamental rights of a person to demonstrate was important, the government was also duty bound to save a human life. Voicing concern over the bad press the government was getting on the Lokpal issue, Congress members of Parliament wanted it to be proactive in apprising people about the truth of the matter.
External Affairs Minister S M Krishna and his deputy Shashi Tharoor are ready to vacate their luxury hotel rooms following Finance Minister Pranab Mukherjee's call for austerity.
Finance Minister Pranab Mukherjee on Sunday called on Sri Lankan President Mahinda Rajapaksa and discussed with him bilateral relations and the issue of resettlement of the war displaced Tamils.
Amid sagging business outlooks from various chambers, economists on Wednesday told finance minister Pranab Mukherjee that Budget 2012-13 should restore the confidence of investors.
Stating that both the CPI and RSP would not vote, CPI general secretary Sudhakar Reddy asserted, "the author of the economic policies was Pranab Mukherjee. The wide chasm created between the rich and poor is the handiwork of Mukherjee as a Finance Minister".
Moderating inflation and a likely reversal of tight monetary policy will boost the economic prospects during 2012, said Finance Minister Pranab Mukherjee.
After conducting a few pilot studies, the government is in the process of introducing a new accounting system in a phased manner that would provide an effective way to track and assess assets created out of public money.
Toughening its stand, key United Progessive Alliance constituent Trinamool Congress on Thursday said if the Congress names Finance Minister Pranab Mukherjee or Vice President Hamid Ansari as its Presidential candidate, it will "contest" the election with A P J Abdul Kalam as its nominee.
Stressing that the Cabinet notes meant for Group of Ministers should be in line with the procedures, a Cabinet secretariat circular cites Finance Minister Pranab Mukherjee pointing out mistakes galore in the notes submitted to him for one of many GoM meetings he chairs.
Pranab Mukherjee on Thursday said that though the exact impact of the drought on the Kharif crop would be known only when the harvesting begins, there is every possibility of a shortfall of 15-20 percent.
Finance Minister Pranab Mukherjee said the Indian Infrastructure Financial Corporation Limited (IIFCL) will evolve a financing mechanism for giving increased support to infrastructure projects.
Why Krishna is miffed. The Congress's power politics. The BJP's politics over Modi. All this, and more, in Dilli Gupshup....
The OECD is a club of developing countries and has been playing a key role in reforming the international taxation system.
The demand got a further clout after the economic growth in 2011-12 recorded the nine-year low growth of 6.5 per cent.
Contending that economic growth has been high during United Progressive Alliance rule, he admitted that gross domestic product of 7 per cent was 'not adequate' but refused to accept the opposition contention that it was all time low.
Strongly defending its decision to allow FDI in retail, Finance Minister Pranab Mukherjee on Thursday told Congress Members of Parliament that the government was "compelled" to suspend the move to avoid "pre-mature elections". Addressing the Congress Parliamentary Party, Mukherjee also apologised to members who had supported the government in allowing FDI in retail but said going ahead with the decision could have created a "crisis" for the government.
India's infrastructure financing requirements and the new manufacturing policy being finalised will open up $1 trillion opportunities for global investors over the next five years.
Pranab Mukherjee's initials are PM. But everyone in the finance ministry is convinced he's the one moving to Rashtrapati Bhavan in the next few weeks.
Anna Hazare's demand for right to recall elected representatives and reject candidates is not feasible in a huge country like India, Union Finance Minister Pranab Mukherjee said on Friday and claimed that the provision, if implemented, would only create political instability.
Union Finance Minister Pranab Mukherjee on Wednesday refused to comment on a letter sent by his ministry to Prime Minister Manmohan Singh on the 2G spectrum scam, saying he cannot make any remark on the matter as it is "subjudice".
Union Finance Minister Pranab Mukherjee on Wednesday refused to comment on a letter sent by his ministry to Prime Minister Manmohan Singh on the 2G spectrum scam, saying he cannot make any remark on the matter as it is "subjudice".
Defending Trinamool Congress chief Mamata Banerjee, Union Finance Minister Pranab Mukherjee said on Sunday that he found "nothing wrong" in the key United Progressive Alliance ally's statement that the killing of top Maoist leader Azad was not correct.
Pant, a 1991-batch Indian Administrative Service officer of Rajasthan cadre, is currently secretary in the ministry of ports, shipping and waterways.
Finance Minister has proposed to levy MAT of 18.5 per cent on the book profits of Special Economic Zone developers and units.
At the IMF, India is expected to link announcement of additional resources to the IMF to the implementation of 2012 quota reform.
Finance minister Pranab Mukherjee said he was confident of the DTC being recommended by the standing committee in the coming (winter) Parliament session.
Admitting that the benefits of high growth have not reached a large section of the country, Finance Minister Pranab Mukherjee said inclusive growth cannot be achieved without removing corruption.
Sending a tough message to the rebels, Finance Minister and senior Congress leader Pranab Mukherjee on Tuesday said it was not possible to satisfy all aspirants for party tickets and warned that contesting against official nominees would invite stern action.
Finance Minister Pranab Mukherjee has rejected a proposal by Communications Minister A Raja for refund of the Rs 29,598 crore paid by state-owned Bharat Sanchar Nigam Limited and Mahanagar Telephone Nigam Limited for third generation (3G) and broadband wireless access (BWA) spectrum.
The government's plans to reign in petroleum subsidies to plug the fiscal deficit next financial year are in jeopardy, as a whopping Rs 2.13 lakh-crore revenue loss is expected at the current levels of global crude oil prices and domestic retail prices of controlled products.
In order to augment funds for SMEs (Small and Medium Enterprises), Finance Minister Pranab Mukherjee, in the General Budget 2012-13 presented in Lok Sabha, has proposed to exempt capital gains tax on sale of a residential property, if the sale consideration is used for subscription in equity of a manufacturing SME company for purchase of new plant and machinery.
Oil Minister S Jaipal Reddy has written to Finance Minister Pranab Mukherjee demanding a hike in excise duty on diesel cars to make up for subsidised fuel being used in vehicles.
Finance Minister P Chidambaram will soon have to decide whether to stick by his predecessor's choice of former Reserve Bank governor Y V Reddy for chairmanship of the 14th Finance Commission, to be set up next month.
He said assessees' "comfort zones" have to be significantly enhanced, even as deliberate evaders and offenders are punished.
Finance Minister Pranab Mukherjee on Monday said adverse global economic developments, including the fallout of downgrade of the United States sovereign rating, present new opportunities to India and the country could become a source of stability for the world economy.
