The finance minister said the consensus between the Centre and states is required to amendment the constitution for implementing goods and services tax.
A host of political leaders and the cream of Tamil film world were among those who turned up for the wedding reception of Union Minister M K Alagiri's son Durai Dayanidhi on Wednesday at the sprawling Tamukkam grounds in Madurai, which was converted into an excellently decorated wedding hall.
Finance Minister Pranab Mukherjee has asked Communications Minister Andimuthu Raja to complete the auction of the third generation (3G) spectrum within the agreed deadline (February 15), so that the revenue from it can be reflected in the Union Budget for 2009-10. Mukherjee had earmarked Rs 30,000 crore as revenue from 3G auction, which has already been delayed by a year, in the Budget.
"Soon I will not be a political entity," Pranab Mukherjee remarked hours before he resigns as finance minister to contest Presidential poll, but promised to deliver his "last message" before he bids adieu.
Pranab Mukherjee appears set to be the next President with his candidature announced on Friday by the ruling UPA and endorsed swiftly by supporting parties Samajwadi Party and Bahujan Samaj Party amid indications that he will gather more support ahead.
At least a dozen Union ministers, including Prime Minister Manmohan Singh and Finance Minister Pranab Mukherjee, are abroad and some more are slated to be off to attend international conferences in the coming days.
However, he disappointed big time by not announcing any relief in taxes or change in the tax structure to bring relief to the common man.
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.
The government and financial sector regulators buried their differences on the proposed Financial Stability & Development Council (FSDC) after Finance Minister Pranab Mukherjee offered the Reserve Bank of India governor a sweetener.
The first Unique Identification Card to citizens will roll out in 12-18 months.
Tax experts said as a result of the amendments, companies operating from countries with which India didn't have DTAAs, would try to shift to countries with which India had such agreements, including Mauritius.
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.
Breaks self-imposed rule never to return to an office he has occupied in the past.
The Mamata Banerjee government, which came to power in July last year, has been demanding special package in the form of interest moratorium.
Finance Minister Pranab Mukherjee while presenting the budget 2009-10 in Lok Sabha on Monday said that the details about this expert group will be announced by the minister of petroleum and natural gas.
United Progressive Alliance Presidential candidate Pranab Mukherjee on Friday telephoned Bihar Chief Minister Nitish Kumar and is understood to have expressed his gratitude for extending support to him in the July 19 Presidential poll.
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.
What do the glitterati think of the finance minister's delicate balancing act? Here are seven famous voices...
The prime minister's decision is reportedly a fallout of the 'hue and cry' created during his Washington visit over the 2G spectrum issue.
Commerce Minister Anand Sharma and Planning Commission Deputy chairman Montek Singh Ahluwalia will also participate in the India-US Business CEOs Forum Meeting.
Financial performance, tax issues to be discussed on June 13 meeting.
Going the direct subsidy route, the prices of kerosene and LPG will go up in the market, but the extent of rise will not be as high as when the subsidy is given to everyone.
Food inflation had soared to a year's high of 18.32 per cent for the week ending December 25 before declining to 16.91 per cent in the subsequent week.
Meanwhile, Uttarakhand, Kerala and Delhi have already announced cut in value added tax on petrol.
Finance Minister Pranab Mukherjee said this while presenting the Union Budget in the Parliament on Friday.
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.
"It was a good long meeting with the governor. He met the finance minister. He reviewed the situation. Rest, wait for the policy," finance secretary Ashok Chawla told reporters.
There are allegations that MFIs are charging exorbitant interest rates and using strong-arm tactics to recover the loans.
The deadlock over the 2G spectrum scam continued when the opposition rejected the government's offer of a probe by the Public Accounts Committee into the scam. Finance minister Pranab Mukherjhee had called for a luncheon meet on Monday afternoon to try and break the dealock which has paralysed parliamentary for the past eight days, where the opposition's repeated call for a Joint Parliamentary Committee has not allowed any business to be transacted in either house.
With the fiscal deficit likely to shoot up during 2011-12, leading economists urged Finance Minister Pranab Mukherjee to expedite tax reforms to increase revenue and take steps to bring economy back on high growth path.
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.
The finance minister along with his cabinet colleague and Defence Minister A K Antony have been asked by Congress chief Sonia Gandhi to submit a report on the scam.
With the tablet carefully kept inside a red cover with a golden-coloured national emblem embossed on it instead of the briefcase, Parliament will be her next destination after the call on President Droupadi Murmu at Rashtrapati Bhawan.
The funding will help developmental works in Nepal.
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.
He indicated that the government was looking into the problems of the small and medium sector. To a question Mukherjee said, 'there will always be a gap between what should be done and what can be done. The Union Budget is usually presented on the last day of February every year'.
Finance Minister Pranab Mukherjee on Friday said the agreement signed with Switzerland for sharing banking information on demand is likely to come into force by September.
At the meeting, Gandhi described bills on Food Security and Women's Reservation as 'most important' legislative agenda of the government.
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