Petroleum Minister Ram Naik is likely to meet Finance Minister Jaswant Singh on January 30 to seek excise duty cut on petroleum products in view of excessive volatility in international crude oil prices.\n\n\n\n
Indian firms can invest in listed cos abroad: RBI
The government said on Thursday that it will try to compensate states for the first three years for any loss of revenue they might suffer due to introduction of Value Added Tax regime next fiscal.
As the Lok Sabha debates a no-confidence motion brought against the Narendra Modi government by the opposition, the 28th such motion to be admitted in the Lower House, data compiled by a think tank shows all previous ones have either been defeated or remained inconclusive.
Tempers ran high over Gorkhaland issue in the Lok Sabha on Thursday with a Trinamool Congress member attacking senior Bharatiya Janata Party leader Jaswant Singh for making a strong plea for a political solution to the issue but later expressed regret.
In a bonanza to its employees ahead of the ensuing Lok Sabha elections, the government on Friday decided to merge 50 per cent of dearness allowance with the basic pay
The government on Thursday cleared 40 foreign direct investment proposals worth Rs 501.14 crore (Rs 5.01 billion), including Rs 323.42 crore (Rs 3.23 billion) investment by Swiss major Campagnie Michelin.
The government will be able to keep its fiscal deficit lower at 5.4 per cent during 2003-04 than the budgeted 5.6 per cent of GDP, despite the give-aways announced by Finance Minister Jaswant Singh on January 8, according to rating agency ICRA.
The Reserve Bank of India on Friday said fiscal deficit situation would be better than the budget estimate of 5.6 per cent of GDP for 2003-04, while inflation rate will start falling in the coming days.
The Union Cabinet on Thursday is believed to have deferred a proposal for hiking foreign investment cap in telecom sector to 74 per cent from the existing 49 per cent.
Echoing Finance Minister Jaswant Singh's projection of a "significant" economic growth this year, economists on Friday pegged the GDP growth at 6-6.5 per cent but cautioned the Centre on increasing debt and fiscal deficit.
Indications are that Reddy will take charge as RBI Governor after the annual meeting of the IMF slated in late September.\n\n
India is committed to repay its high interest debt earlier than scheduled and has already paid over $3 billion, Finance Minister Jaswant Singh told the Lok Sabha on Friday.
Less than 4 days after announcing Rs 609 crore aid for cane growers of states having a state advised price regime, the Centre on Monday decided to come out with a comprehensive package which will include the non-SAP states as well.
India's total external debt stood at $101.97 billion as on September last year, Lok Sabha was informed on Friday.
At least 11 states accounting for two-third of the country's trade and industrial output are ready to introduce value-added tax from June
India, the world's largest edible oil importer, on Wednesday slashed customs duty on RBD Palm oil to 70 per cent from 85 per cent but traders here said it is unlikely to have any significant impact on imports.
The Lok Sabha approved the Union Budget for 2003-04 with some minor changes on Wednesday.\n\n\n\n
Only eight out of 16 states, which have agreed to implement Value-Added Tax from June 1, have passed legislations on the issue so far, Finance Minister Jaswant Singh said in Lok Sabha on Friday.
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