Economists expect a push to reforms by newly-appointed Finance Minister Pranab Mukherjee, who they said is the right person to head the important ministry.
Giving a new turn to the Presidential race, the Bharatiya Janata Party on Monday ruled out supporting Finance Minister Pranab Mukherjee, Vice-President Hamid Ansari or any other candidate who may be put up by the Congress but is open to supporting anyone chosen by the non-Congress parties.
"Yes, if the crisis deepens further and there is greater volatility in financial flows, there is an increased risk of this (currency war) happening," Mukherjee said in response to a question.
Prime Minister Manmohan Singh hailed Finance Minister Pranab Mukherjee's Budget for 2009-10 presented in Parliament on Monday, saying that the finance minister 'has done an admirable job'.
Finance Minister is unhappy over lack of storage capacity.
On Wednesday, Mukherjee addressed two press conferences at the International Monetary Fund.
The Congress on Monday downplayed reports of a disagreement between Prime Minister Manmohan Singh and Finance Minister Pranab Mukherjee over Dr Singh's offer to appear before the Parliamentary Accounts Committee over the 2G spectrum issue, saying Mukherjee was only underlining the legal position. "The finance minister has himself clarified his statement. Mukherjee was only underlining the legal position that it was not binding on the PM to appear before the PAC," Cong said.
G-24 grouping comprises 24 developing countries from Asia, Africa and Latin America.
The government today said the proposed Financial Stability and Development Council, an inter-regulatory agency headed by the finance minister, would not act as a super regulator.
Pranab's earlier fear of Sonia relying too heavily on a coterie due to her lack of experience turned out to be unfounded. As per Pranab, Sonia had her close advisers but she did not follow anyone's advice blindly. A fascinating excerpt from Sharmistha Mukherjee's Pranab, My Father: A Daughter Remembers.
Finance Minister Nirmala Sitharaman on February 1 will present a record eighth consecutive budget that is expected to contain measures to shore up weakening economic growth and ease the burden on the middle class struggling with high prices and stagnant wage growth while being fiscally prudent.
Asking the state finance ministers to resolve the pending issues expeditiously, the Centre on Thursday said introducing Goods and Services Tax was critical for economic reforms.
Focusing on rural India and attaining a high GDP, Finance Minister Pranab Mukherjee outlined targets such as speeding up infrastructure development and spending more for the development of rural areas and the poor.
For 2010-11, the country hopes to achieve a gross domestic product growth of 8.5 per cent (plus or minus of 0.25 per cent), the finance minister said.
Finance Minister Pranab Mukherjee on Monday said that G-20 countries, a club of developed and developing nations, have agreed to continue with the stimulus packages till the global economy fully recovers.
The Empowered Committee of state finance ministers is meeting under the chairmanship of West Bengal finance minister Asim Dasgupta to work out agreements on various aspects of the GST.
Finance Minister Pranab Mukherjee is expected to file on June 28 his nomination papers for the Presidential election.
Ahead of a crucial meeting of the Centre on Kashmir, state Chief Minister Omar Abdullah met Finance Minister Pranab Mukherjee and Defence Minister A K Antony to seek their support on the partial withdrawal of the Armed Forces Special Powers Act from the state. Sources said Omar had met Mukherjee late on Wednesday night at the latter's residence for about half-an-hour, during which the chief minister presented his case for withdrawal of the AFSPA.
As the 2G fire rages, Finance Minister Pranab Mukherjee has written a letter to Prime Minister Manmohan Singh setting out in detail the events surrounding the controversial allocation of spectrum.
Congress President Sonia Gandhi on Monday stepped into the 2G spectrum row that has engulfed the government by meeting Home Minister P Chidambaram and Finance Minister Pranab Mukherjee amid unconfirmed reports that the former had offered to quit.
Mukherjee, accompanied by Andhra Pradesh Chief Minister N Kirankumar Reddy, was in the temple for about 30 minutes. Before leaving the shrine, Mukherjee was presented with sacred laddu prasadam and holy water by temple management, temple sources told PTI
Ahead of his meeting with Congress members of Parliament to allay their apprehensions on FDI, Mukherjee met Gandhi at her 10, Janpath residence for about 10 minutes, party sources said.
As the debate on revealing names of those who had stashed money abroad was hotting up, a Parliamentary panel grilled finance ministry officials on why the confidentiality clause was put in tax treaties in the first place.
Besides Mukherjee, who is leader of the Lok Sabha, the committee, headed by Speaker Meira Kumar, will have four other members from the Congress, three from Bharatiya Janata Party each from Samajwadi Party, Bahujan Samaj Party, Janata Dal (United), Trinamool Congress, Dravida Munnetra Kazhagam and Communist Party of India-Marxist.
Finance Minister Pranab Mukherjee on Tuesday met exporters, a day after the release of the April export data which showed the sharpest fall in overseas shipments in 14 years, assuring them he would do his best in the Budget.
"Despite the global economic crisis, we grew by 6.7 per cent last year...This year, we are getting mixed signal," Mukherjee said, while noting that indicators are coming good from industrial production data and in terms of business demand and investor confidence.
The government on Thursday insisted Finance Minister Pranab Mukherjee's office had not been bugged, claiming the whole thing was "bogus" and the matter should be closed now. "I had myself talked to the finance minister on Wednesday evening on this matter. There is nothing to take forward. The finance minister has categorically and emphatically stated (to the media) that it has been investigated and the answer is there has been no bugging," said Ambika Soni.
The Finance Ministry on Friday said that no bugging device was found within its premises, including the office of Finance Minister Pranab Mukherjee, and the suspicious adhesive discovered was chewing gum-like material.
Industrial output growth rate remained flat in April.
The two major changes include: keeping an option open for supplying more than 3 kg of subsidised foodgrains to general households and widening its reach to include lactating women, destitute and aged people and providing nutritious food to children.
In a move which could further rock the United Progressive Alliance and create fresh fissures at the highest level in the government, union Home Minister P Chidambaram has fired a salvo against Finance Minister Pranab mukherjee on the issue of price rise saying that inflation is the biggest tax which the people have to face.
Set to file nomination papers for the Presidential poll, a sentimental Pranab Mukherjee on Tuesday resigned as finance minister to "embark on a new journey", leaving behind his four-decade stint as a political activist.
About 40,000 jewellers in West Bengal have gone on a three-day strike alleging high-handedness of income tax officials.
The emphasis would be on curbing subsidies and promoting private sector investment by continuing stimulus measures.
Union Finance Minister Pranab Mukherjee on Sunday assured that West Bengal would be provided all assistance to tide over its financial crisis.
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.
Pranab Mukherjee's book The Dramatic Decade: The Indira Gandhi Years takes the readers through the economic and social unrest of the period leading up to the emergency, rise and fall of leaders, many splits within the Congress, while promising to offer more in the next two volumes of the trilogy, says Nivedita Mookerji.
Mukherjee said it was not necessary for the RBI governor to consult him before the mid-quarterly review of the credit policy.
Ahead of a scheduled discussion in Parliament on the Finance Bill, 2012, for its clearance next week, top bosses of Vodafone Plc met senior functionaries of the government on Tuesday to discuss tax issues that have emerged due to the proposed retrospective amendments in the Income Tax Act, 1961.
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