He also said that the expert committee on amendments to the Income-Tax Act was expected to submit a draft Bill during the early part of 2006, but did not give any time-frame for the introduction of amendments.
Finance Minister P Chidambaram criticised the Bharatiya Janata party for shifting its stance on further opening up the insurance sector, which he said was crucial for greater flow of investment in infrastructure.
This means taxpayers might continue to enjoy exemption on maturity of their investments
Launching a stinging attack on Union Finance Minister P Chidambaram for ridiculing his knowledge of economics, Bharatiya Janata Party's prime ministerial candidate Narendra Modi on Saturday said the country was run with hard work and not Harvard, a reference to the Congress leader's education overseas.
The Finance Ministry has already circulated a draft Cabinet note withdrawing the conciliation offer to Vodafone to resolve the Rs 20,000-crore (Rs 200-billion) tax dispute case.
The social media was abuzz over an image of an image of Finance Minister P Chidambaram alongside Taliban founder Mullah Abdul Salam Zaeef during a conference in Goa.
Show-cause notice has been issued to M/s Advantage Strategic Consulting Private Limited, its directors and also to Karti P Chidambaram who appears to be the controller and ultimate beneficiary in these transactions, the ED said in its notice.
"It is not possible to check supply of fake notes at the source itself as "there is a state support"
Two long-stalled reforms are lifting FDI cap in insurance and simplifying land acquisition for factories.
The probe pertains to firms identified as Advantage Strategic Consulting Private Limited and Chess Global Advisory Services Pvt Ltd, where Karti had been a director
The bullet train project, linking Mumbai and Ahmedabad, is not for ordinary people but an "ego trip for the high and mighty", he alleged.
The government on Monday indicated that it may tinker with the excise duties and service tax rates in the interim budget in an apparent bid to boost economy but may not pursue key reforms legislations due to lack of political consensus.
The shortfall is more pronounced in areas like coal, finished steel, railway revenue freight traffic, fertiliser and natural gas production, construction and strengthening of four-lane national highways, P Chidambaram said in the letter.
A day after the Central Statistical Organisation projecting a sluggish agricultural growth this fiscal, Finance Minister P Chidambaram said on Friday the government will take all steps to ensure a four per cent expansion in the farm sector for next 10-20 years. "First charge on our resources is for agriculture, so that it grows at 4 per cent or more for next 10-20 years" Chidambaram said at a National Bank for Agricultural and Rural Development function in New Delhi.
After a Delhi court framed harges against 17 persons in the 2G case, the Bharatiya Janata Party on Saturday demanded a probe by the Central Bureau of Investigation to ascertain the role of then finance minister P Chidambaram in the scam and insisted that he should either step down or be sacked to facilitate a fair investigation.
The Enforcement Directorate has registered a money laundering case against Karti Chidambaram, son of former finance minister P Chidambaram, and others, taking cognisance of a recent CBI FIR against them.
Chidambaram's statement was in response to Modi's reported claim of economic growth rate during Vajpayee government being 8.4 per cent.
Union Finance Minister P Chidambaram will meet the heads of public sectors banks and financial institutions, like IFCI and Small Industries Development Bank of India (Sidbi) on Tuesday to review their performance for the second quarter ended September 2008.
In his petition, Karti contended that the July 18 circular had been issued arbitrarily and without jurisdiction by the Foreigner Regional Registration Officer and The Bureau of Immigration under the Union home ministry at the behest of different agencies to prevent him from travelling abroad.
When a car gets mixed up with national pride, just as journalism, economy and cricket have, questions are condemned to be still-born.
The application for narco analysis test assumes significance as the agency yesterday alleged that Karti was not cooperating in the investigation and was 'evasive' in his replies.
Mukerjea recorded her statement under the Prevention of Money Laundering Act and said she and her husband Peter Mukerjea met Chidambaram at his office in Delhi's North Block.
Finance Minister Chidambaram has announced a moratorium period for all education loans taken-up to 31.3.2009 and outstanding on 31.12.2013.
Finance Minister P Chidambaram has supported Civil Aviation Minister Ajit Singh's suggestion on doing away with a rule that bars Indian carriers from flying abroad unless they complete five years of service and own a 20-aircraft fleet.
P Chidambaram will make a final decision on whether to go ahead with the cuts at the end of October, when he gets an update on revenue collections.
According to the package, the dues will be cleared in six monthly instalments by March 2009. Current ATF purchases will get 90 days' credit, supported by bank guarantees. Also, jet fuel price revisions will henceforth happen every fortnight. Praful Patel on Thursday admitted in the Lok Sabha that it may take another two months to make the recently-opened third runway at the Delhi airport fully operational.
The two ministers are believed to have discussed the issue of redefining foreign direct investment and foreign institutional investment to remove ambiguities.
The war of words between Finance Minister P Chidambaram and Arun Jaitley, leader of opposition in the Rajya Sabha, refuses to die.
'Today, we are at a striking distance of the goals set by the Tarapore Committee,' he said.
P Chidambaram accused the BJP of making a u-turn on bills like GST after having stalled them during the UPA regime.
The government has taken a number of steps to stem the depreciation of rupee including moderation in demand of non-essential imports and enhancing supply of capital flows, Finance Minister P Chidambaram said.
The senior Congress leader also said over 90 per cent of jobs are in the SME sector which requires an urgent push to boost the economy.
Amidst reports of a cut in interest rate on Employees Provident Fund, Labour Minister Sis Ram Ola on Thursday said he will meet Finance Minister P Chidambaram to decide on the returns for the over 32 million subscribers for this year.
The top court had granted bail to Chidambaram in the case lodged by the CBI saying he is neither a 'flight risk' nor is there a possibility of 'his abscondence from the trial'.
Rubbishing the Bharatiya Janata Party's charge that his father was "running away" from contest, Karti Chidambaram, son of Union Finance Minister P Chidambaram, on Friday said the saffron party has no locus standi to make such a comment.
In an unusual move, Central Bureau of Investigation Director A P Singh on Friday had a meeting with a Bharatiya Janata Party delegation, which demanded a probe into alleged role of the then Finance Minister P Chidambaram in the 2G scam.
Finance Minister P Chidambaram will woo foreign investors to invest in India as he begins his nine-day visit to the US on Tuesday.
The deficit for April-June was at $21.8 billion or 4.9 per cent of GDP.
If convicted, the offences entail a maximum punishment of seven years.
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