The government on Saturday said it has served notices to 17 persons who allegedly kept untaxed money in foreign banks and prosecution has begun against them, but refused to reveal their names. The comments, made by Finance Minister Pranab Mukherjee, came a day after some media reports revealed names of 15 entities, including individuals and trusts, who allegedly kept illicit money in LGT Bank of Liechtenstein, an European country neighbouring Switzerland.
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.
Describing the prevailing global situation as "complex", Finance Minister Pranab Mukherjee today attributed the sharp fall in the stock markets to uncertainty over resolving the Eurozone problems in the wake of the Greek crisis.
The announcement came just ahead of the meeting of a ministerial panel, headed by Finance Minister Pranab Mukherjee, to look into the Cairn-Vedanta deal which was struck in August.
In a possible precursor to further rate cuts, Finance Minister Pranab Mukherjee's meeting with public sector bank chiefs on Monday will review their benchmark prime lending rates and interest rates on loans for automobiles, homes, small and medium enterprises and non-banking finance companies.
Finance Minister Pranab Mukherjee on Wednesday said the Indian economy could grow by 7.5 to 8 per cent during the current financial year, though price rise and fiscal consolidation remained areas of concern.
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".
Ending days of suspense, Congress President Sonia Gandhi on Wednesday made it clear that Finance Minister Pranab Mukherjee was her first choice for Presidentship and Vice President Hamid Ansari was also in the reckoning.
Amid the rituals of Maha Ashtami (the third day of the five-day festival), Pranab Mukherjee spoke to Shine Jacob on the Moody's downgrade of State Bank of India and other issues.
Government on Friday did not rule out setting up of a Joint Parliamentary Committee to probe into the Indian Premier League controversy with Finance Minister Pranab Mukherjee saying a decision would be taken after 'due diligence.'
However, so far only 16 states have amended their Acts based on the model provided by the centre.
Finance Minister Pranab Mukherjee on Friday said surging food and fuel prices amid weak global economic growth are adversely impacting GDP growth of the country.
The money, together with disinvestment proceeds, is crucial for Mukherjee to meet his fiscal deficit target of 5.5 per cent for 2010-11 from 6.7 per cent in 2009-10.
White Papers, which are issued by the government, lay out the policy or proposed action on topics of current concern.
Mukherjee could not implement nine of the promises he made in his Budget for 2009-10 and most of these pertained to significant areas of the economy.
Ahead of the crucial meeting of the Dravida Munnetra Kazhagam top brass in Chennai, Congress on Saturday signalled that its seven-year-old alliance with the Dravidian party in poll-bound Tamil Nadu, would be saved.
Finance Minister Pranab Mukherjee might have to fall back on divestment and other non-tax revenue sources while presenting the Budget for 2009-10 on July 6, economists believe.
Slowly, Rahul Gandhi is becoming more pro-active and taking a great deal of interest in matters of governance and key programmes of the United Progressive Alliance government. On Thursday, Rahul called on Union Finance Minister Pranab Mukherjee at his residence (the first time he paid such a visit) with a Budget wish-list.
Finance Minister Pranab Mukherjee said the government is examining the decision of the Income Tax tribunal in the Bofors case and will decide the future course of action later.
Finance Minister Pranab Mukherjee on Monday said the Direct Taxes Code (DTC), which will replace the Income Tax Act, is proposed to be implemented from April 1, 2012."
Hitting back at the Bharatiya Janata Party for demanding a joint parliamentary committee probe into the 2G spectrum allocation, Finance Minister Pranab Mukherjee on Friday said it had no right to speak on the issue as the Tehelka sting operation had earlier exposed its party president taking a bribe on camera. "People should not forget what we have seen in the earlier regime, what happened in Tehelka. How the president of a national party was found taking money," he said.
The two parties are deadlocked over on a deal over sharing of seats following DMK's decision on Saturday to pull out its ministers from the UPA government over Congress attitude.
"A few public sector undertakings have been identified for sale of small portions of the government shareholding in the domestic market and for issue of fresh equity to meet their fund requirements, if required," Union finance minister Pranab Mukherjee said on Tuesday at the Economic Editors' Conference.
As security situation in Pakistan continues to deteriorate, India has said developments in the neighbouring country would have a "bearing" on its territory too.
Finance Minister Pranab Mukherjee on Wednesday said the wrong policy and non-functional police of the Left Front government in West Bengal were responsible for the rise of Maoism in the state. "The Left Front government should be blamed for the rise of Maoists in West Bengal. Their wrong policy and non-functional police have allowed the Maoists to enter the state and strengthen their base in Junglemahal," the senior Congress leader told an election rally at Harishchandrapur.
Concerned over high credit cost and availability of funds, Finance Minister Pranab Mukherjee on Wednesday said he will ask banks for a 'benign plan of action' while committing to stimulate economic growth by stepping up public expenditure and speeding up reforms.
The Congress core group met at the prime minister's residence late on Wednesday night and weighed options to deal with the demand made by Trinamool Congress chief Mamata Banerjee to sack Railway Minister Dinesh Trivedi.
GDP growth in 2010-11 stood at 8.5 per cent.
From starting off his career a teacher in West Bengal to joining politics and holding several ministerial positions, it has been an enviable journey for Pranab Mukherjee through the echelons of power.
Among the aam aadmi measures, leaders sought an increase in the minimum support price mainly for sugarcane, income tax relief to the salaried class and more benefits to senior citizens. Suggestions were also made to increase subsidy for diesel for farmers and fishermen. Soft loans for minorities and SC/STs were also demanded. But issues like disinvestment, SEZ amendments, insurance bill or financial sector reforms were not discussed.
Finance Minister Pranab Mukherjee will meet heads of public sector banks on Wednesday to impress upon them the need to further moderate interest rates and also increase availability of credit to industry, suffering from the impact of the global downturn.
Finance Minister Pranab Mukherjee on Monday said the hike in prices of petroleum products will have some inflationary impact in the short-term but price pressures will moderate from the middle of July.
Output of the manufacturing sector, which constitutes over 75 per cent of the index, rose 8.5 per cent in January, compared to 8.1 per cent in the same month last year.
Her letter, mostly in jest, also highlights the problems that women face in the country, particularly in the national capital.
Union Finance Minister Pranab Mukherjee is likely to meet the leaders of the opposition parties again on Monday morning in his bid to break the impasse between the government and the opposition parties that has disrupted functioning of both houses of Parliament since the session began on November 9.
After Home Minister P Chidmabaram talked about a 'limited mandate' in the fight against Maoists, Finance Minister Pranab Mukherjee has said the issue will be discussed in the Cabinet and there "cannot be a public debate on the problem". "No, these are issues that we will have to discuss in the Cabinet. There cannot be a public debate because the fact of the matter is (that) the proposals of the home ministry have been adopted by the Cabinet," he said.
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".
Finance Minister Pranab Mukherjee on Friday dismissed as speculation reports that he has emerged as a front runner in the race for presidential election.
The developers, including Raheja Ltd, Ascendas, L&T and GMR, among others, are in the Ministry of Commerce and Industry's Export Promotion Council for export oriented units and special economic zones.
Finance Minister Pranab Mukherjee will hold talks with the opponents of Women's Reservation Bill before the government's takes the next step on it, Minority Affairs Minister Salman Khurshid said on Thursday.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances