In a strongly-worded letter to Bharatiya Janata Party President Nitin Gadkari, eminent lawyer and MP Ram Jethmalani has alleged party leaders are "silent against the huge corruption" in United Progressive Alliance-II government and are instead engaged in infighting.
The finance ministry is planning to change the face of banking in the Red corridors at the tribal heartlands of India. The move is part of the government decision to redraw its law and order management and development plans in view of the growing Naxalite menace threatening India.
With the Biju Janata Dal and the All India Anna Dravida Munnetra Kazhagam indicating their preference for P A Sangma as presidential candidate, the Nationalist Congress Party leader on Thursday thanked them saying they have been responsive to the aspirations of tribals and appealed to other parties to support a candidate from the community.
The ailing carrier was facing a net cumulative loss of Rs 20,320 crore.
Outflow of portfolio investment, and consequential decline in the stock market and the value of the rupee are effects of the problems in Eurozone.
Oil Minister S Jaipal Reddy has written to Finance Minister Pranab Mukherjee demanding a hike in excise duty on diesel cars to make up for subsidised fuel being used in vehicles.
Planning Commission deputy chairman Montek Singh Ahluwalia and former Planning Commission member Kirit S Parikh, who heads an expert committee on fuel pricing, may join the deliberations, official sources said.
The speed at which political statements of doubtful veracity acquire the aura of gospel truth is astonishing. One such "truth" is: coalition compulsions impede economic reforms. Even Chief Economic Advisor Kaushik Basu believes in it. He recently said, "Thanks to coalitional democracy, there is some slowdown in economic reforms and decision-making."
The name of Mitra, a 1975 batch IAS officer from West Bengal cadre, was cleared by the appointments committee of the Cabinet headed by Prime Minister Manmohan Singh.
The finance ministry has offered less than half of the Rs 31,700 crore (Rs 317 billion) sought by the oil ministry to make up for revenue losses incurred by the state-owned retailers on sale of LPG and kerosene. Petroleum Minister Murli Deora on Thursday met Finance Minister Pranab Mukherjee to seek compensation for the public sector oil firms for their losses but the meeting remained inconclusive.
Corruption has emerged as a major issue in the country but Prime Minister Manmohan Singh was not responsible for the situation, Bihar Chief Minister Nitish Kumar said on Saturday. ''I don't hold the prime minister responsible for the entire issue related to corruption. But the situation reflects that governance is not up to the mark,'' he said.
While accepting that there are challenges before the Indian economy arising out of domestic and global factors, the Finance Minister said he did not believe in despondency.
Feels assured by FM's promise that givt will consider their demands.
The Reserve Bank of India on Friday said that the Budget 20010-11 presented by Finance Minister Pranab Mukherjee is in line with the path of fiscal consolidation and economic revival.
India and Switzerland on Monday signed the revised Double Taxation Avoidance Agreement, a move that will help the government seek details about illicit wealth allegedly stashed away by Indians in Swiss banks.
He further added that India needs $1 trillion investment in infrastructure during the 12th Five-Year Plan.
Prime Minister Manmohan Singh said his government expected a reasonably good growth rate of seven per cent in the ongoing 2011-12 financial year.
The markets tanked 209 points after Finance Minister Pranab Mukherjee tabled the Union Budget in Parliament on Friday. Economic Affairs Secretary R Gopalan defends the measures, saying the markets will need time to comprehend the measures.
Borrowing at 29 paise will account for the largest share of every rupee that the government will use for financing the Union Budget 2010-11, while will it spend the most - 21 paise - on central plan.
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