While the government had earlier decided to grant the ailing carrier Rs 800 crore (Rs 8 billion) this fiscal, another Rs 1,200 crore (Rs 12 billion) was planned for release in 2010-11.
Mukherjee has always been obliging to mediapersons waiting for comments outside his North Block office on various issues plaguing the economy and sometimes on politics.
Before leaving to tender his resignation to Prime Minister Manmohan Singh, Mukherjee said, " I stand ready to embark on a new journey".
Has President Pratibha Patil become an embarrassment to the United Progressive Alliance government? The answer is in the affirmative, if judged by reports emanating from the highest corridors of power.
PM taken out of ICU, likely to attend the last day of the Parliament session.
Mukherjee presented the Union Budget in the Parliament on Friday.
Economists on Friday asked Finance Minister Pranab Mukherjee to continue with the fiscal stimulus until firm economic recovery amid intense speculations about a possible withdrawal of measures taken to spur the economy.
P Chidambaram was on Tuesday made the finance minister as Prime Minister Manmohan Singh undertook a minor reshuffle in portfolios in the Union Cabinet, necessitated by the exit of Pranab Mukherjee in June. According to the announcement, Power Minister Sushilkumar Shinde is the new home minister in place of Chidambaram.
On instructions from Finance Minister Pranab Mukherjee, the Intelligence Bureau has taken up the task of identifying sudden quantum jump in the foreign money flowing in the country through withdrawals by foreigners on credit and debit cards issued by the foreign banks.
"There is a need to sustain foreign trade, revive foreign investments and generate domestic demand in order to maintain our growth rates," said External Affairs Minister Pranab Mukherjee, who is also holding the finance portfolio. Boosting the economy was also necessary to "uplift multitudes living below the poverty line." Noting that India cannot remain immune to global crisis, he said, "India faces special challenges from the international financial crisis."
If budget policy started changing around the mid-1980s, it is for a reason. The original oak wood table used by successive finance ministers, right from the time of the interim government before Independence, went missing around then.
Chidambaram wants it reworked; GAAR controversy weighs on implementation.
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.
Finance Minister Pranab Mukherjee on Friday said the government is considering further liberalisation of the country's foreign direct investment policy for attracting investment in the infrastructure sector.
Finance Minister Pranab Mukherjee and other finance ministry officials have reached the last leg of pre-Budget consultations.
As Pranab Mukherjee resigned to contest the Presidential poll, Prime Minister Manmohan Singh on Tuesday took charge of the finance ministry portfolio at a time when the country's economy is going through a bad phase.
There is a serious move afoot to reschedule the second half of the budget session of the Parliament with sources disclosing that leader of the Lok Sabha and Union Finance Minister Pranab Mukherjee would discuss the rescheduling of dates in the meeting of floor leaders of political parties which he has called on April 5.
The government has exempt salaried people earning up to Rs 500,000 annually from filing income tax returns.
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.
As part of the pre-Budget exercise, the finance minister customarily holds parleys with various stakeholders, state finance ministers, industrialist groups, leading economists, trade unionists and officials of various financial sectors.
Finance Minister Pranab Mukherjee's bonanza to Members of Parliament of increasing their Local Area Development funds from Rs 2 crore to Rs 5 crore has come as a shot in the arm for members of the Parliament cutting across party lines. All are happy except one leader, the chairman of the Rajya Sabha Hamid Ansari.
Falling rupee, sluggish stock market is set to make his task more challenging.
In the run-up to Budget, Congress leaders have urged Finance Minister Pranab Mukherjee to take steps to appease the 'common man' - to raise the income tax exemption limit, reduce interest rates and provide greater Budgetary allocations for poverty alleviation programmes.
Union Finance Minister Pranab Mukherjee on Friday presented his fifth budget in Parliament on Friday but Morarji Desai holds the record of doing so 10 times.
Under attack for inability to control surging food prices, especially onions, Finance Minister Pranab Mukherjee has written a letter to state chief ministers asking them to crack down on hoarders to ensure increase in supply of essential items.
Budget 2012 announced by honourable finance minister Pranab Mukherjee will have impact on individuals also: salaried individual as well as self-employed. In this write-up we have tried to summarise various amendments which would have impact on them.
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.
Veteran Congressman Pranab Mukherjee on Monday took over as the Finance Minister and held meetings with top ministry officials to deliberate on various issues faced by the slackening economy as well as the forthcoming Budget.
He reminded the officials that it was because of increased tax buoyancy and collection efforts of Revenue departments that the government was able to waive off the loans to farmers amounting to Rs 71,000 crore (Rs 710 billion).
While maintaining that merit and not nationality should guide selection of the new International Monetary Fund chief, India will in all likelihood support French Finance Minister Christine Lagarde for the job.
Neerja Chowdhury explains why the government was soft where it could have been tough. And tough where it could have demonstrated more patience
Neerja Chowdhury explains why the government was soft where it could have been tough. And tough where it could have demonstrated more patience
After reducing duties on petroleum products, the Centre has now asked the states to follow suit.
Expressing "serious concern" over the generation and circulation of black money, Finance Minister Pranab Mukherjee today said the government has adopted a five-fold strategy to deal with the menace.
Fearing further moderation in economic growth in the next fiscal, the government on Friday said it would take more steps to boost the labour-intensive sectors.
During the last few years, finance ministers like P Chidambaram and Jaswant Singh limited their pre-Budget discussions to representatives from the industrialists' lobby, economists, farmers and trade unions. This time, Pranab Mukherjee has held exclusive meetings with exporters, the financial sector, electronics and information technology. He will also hold a meeting with the finance ministers of the states.
Officials said Mukherjee had proposed the name of Modi for the post, as an experienced person like him could have helped convince BJP-ruled states to move ahead on the Goods & Services Tax (GST).
Mexican bank head seeks support for IMF post.
Top Congress leaders on Thursday held consultations with party chief Sonia Gandhi on the Telangana issue.
The finance Minister's comments came on a day when states finance ministers deliberated on various aspects of GST structure at a meeting in New Delhi.
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