Earlier, an inter-ministerial group used to take these decisions.
What is required from government is intellectual framework.
Hike would have led to higher cost of fertiliser, electricity and even CNG.
The government will not bring down its ownership in public banks.
It was better to first build a single-rate GST with a low rate, achieve full mastery of this, and then consider more complex possibilities such as high rates and multiple rates.
'There will be no serious effect on Indian economy because one person, one man, however powerful, however influential, however great, cannot have an impact on an economy as big and complex as India.'
A host of factors including the reform measures taken by the government and decline in global oil and commodity prices have led to lower inflation, the Finance Ministry said on Wednesday.
Finance Minister Arun Jaitley on Monday presented the Union Budget for 2016-17.
The government now ends its mandate with reaffirmation in the vote-on-account of the same goals, for which it claims to have a clear line of sight.
Arun Jaitley is on a 10-day trip to the US.
What does Nobel Laureate Abhijit Banerjee thinks about India's education sector?
GST will also make our exports more competitive and also provide a level playing field to domestic industry to compete with imports, the President said.
Of the 40 CEOs polled from across the country, 60 per cent identified a fractured electoral mandate as a bigger risk than trade wars, volatile oil prices, and inflation.
P Chidambaram said that the fiscal deficit target for 2013-14 will be met and the current account deficit will be contained below $40 billion.
Significantly, about half of the CEOs who took part in the survey indicated that they propose to increase their investments in near future, 45 per cent cited no change in investment levels, while only 5 per cent expected a fall.
Rome's new mayor, Virginia Raggi, pulled the plug on the city's bid to host the 2024 Olympics, saying staging the summer games would bury the Italian capital under mountains of debt and tonnes of cement.
Reason behind for the change in his stance: gas price increase.
Prime Minister Narendra Modi's three-day visit to Britain has seen India and the UK agreeing on Rs 90,000 crore deals.
A day ahead of Lok Sabha polls announcement, the government today decided to hike interest rates on fixed deposit schemes offered by post offices by up to 0.2 per cent.
Finance minister tries to put house in order before reforms are unveiled in February.
'People who have unaccounted money often park it in unregulated deposit schemes.' 'Curbing illegal deposit-raising activity will also carry forward the government's drive against black money.'
The fourth consecutive rate cut is expected to lower equated monthly instalments (EMIs) for home and auto buyers, and borrowing cost for corporate.
High rates of such schemes deter banks from dropping borrowing rates - and thus lending rates
Abu Dhabi national carrier had bought 24 per cent stake in Jet Airways for $379 million in April.
Private sector firms need to be re-engaged for better infra planning.
Budget is a populist one, wil lbeneift common people
The 'bad bank' -- which will help banks clear their balance sheets by transferring the NPAs to special purpose vehicles -- has been one of the most debated ideas for stressed asset resolution.
The year 2014-15 could well go as one of long-pending financial sector reforms, expected to have a lasting impact.
'Today the real issue facing the Modi government is not about investment, credit and money supply and all those things economists like to talk about.' 'It is whether your average citizen has confidence in the government not to do something utterly whacky,' says T C A Srinivasa-Raghavan.
Rajan said it was important that the government and the RBI be vigilant to the growth scenario.
Priorities include the amendments of the Companies Act and the Motor Vehicle Act
The six-member monetary policy committee voted 5:1 for the decision, with only Ravindra Dholakia voting for a 0.25 per cent reduction in rates.
'The slide in growth has arisen primarily because we have an NBFC crisis on top of a banking crisis,' points out T T Ram Mohan.
Focus to be on unbanked areas; initial capital is set at Rs 100 crore; India Post can apply.
While efforts are being mounted on a war footing to arrest its spread, COVID-19 will impact economic activity in India directly through domestic lockdown. The second-round effects, it said, would operate through a severe slowdown in global trade and growth.
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At the retreat, PSBs had suggested the government cut its stake in these entities to less than 51 per cent over a period of time and empower the boards of individual banks.
FIIs fear short-term capital gains would give rise to tax uncertainty and make their operations difficult, reports Pavan Burugula from Mumbai.
The ministry is likely to go by the recommendations of a committee on liberalising external commercial borrowings, headed by M S Sahoo, a former director with the Securities and Exchange Board of India.
Indian Railways has to up investment to strengthen network just like China and Russia.
Existing units stay operational; those approved may not be notified, land could be used for other purposes
