Finance Minister Jaswant Singh while presenting the Interim Budget for fiscal 2004-05 in Parliament on Tuesday said 50 per cent of dearness allowance of the pay will be merged with basic salary of central government employees.
Finance Minister Jaswant Singh presents an interim Budget on Tuesday amidst mounting pressure from the Bharatiya Janata Party to hike income tax exemption limit to Rs 100,000 and to merge 50% of DA with basic pay of government employees.
Unfazed by the rising inflation at over 6.0 per cent, Finance Minister Jaswant Singh said on Wednesday that the government was confident it would be contained at 4-4.5 per cent annual average by March end, as projected by the Reserve Bank of India.\n\n
The government on Thursday cleared the Rs 30 crore (Rs 300 million) FDI proposal of a Chinese company, Haier Electrical Appliances to set up a 100 per cent subsidiary in India.
The Industrial Finance Corporation of India is likely to be merged with the Punjab National Bank or the Bank of Baroda and a final decision is expected to be taken shortly.
With the help of good management techniques and foresight, India was able to maaintain its position in the areas of petroleum, foreign exchange, inflation and industrial production, despite drought and war.
Government and Securities and Exchange Board of India have taken a number of measures to further enhance the efficiency and safety of the markets and ensure investor protection, Finance Minister Jaswant Singh said in Lok Sabha on Friday.
Finance Minister Jaswant Singh has called off the meeting with empowered committee on value-added tax, scheduled for Tuesday.
Non-Resident Indians in the Gulf have urged Finance Minister Jaswant Singh to retain the present tax benefits for NRIs returning home permanently and not abolish the Not-Ordinarily Resident status now valid for nine years.
Finance Minister Jaswant Singh on Tuesday ruled out the merger of IDBI with IFCI in the near future and said all efforts would be made to restore the state of health of these organisations. \n\n
The government promised on Friday to remove distortions in excise duty on branded and packed refined oils, which analysts said allowed companies to avoid the levy.
The government on Thursday cleared 47 proposals envisaging Rs 285 crore (Rs 2.85 billion) foreign direct investment, including a proposal by Hewitt Associates to set up a 100 per cent subsidiary in India with Rs 120 crore (Rs 1.2 billion) investment.
Finance Minister Jaswant Singh on Friday assured the nation that acquisition of Advance Jet Trainer aircraft would not be held up for lack of funds.\n\n\n\n
Government is likely to prepay another $3 billion worth of costly foreign loans this fiscal in continuance to the exercise started by Finance Minister Jaswant Singh last fiscal for reducing interest burden and fiscal deficit.
Finance Minister Jaswant Singh will soon convene a meeting of state chief ministers to work out details for implementation of the much-delayed value added tax in the country.
With international crude oil prices spiralling to a 12-year high at over $37 a barrel, Petroleum Minister Ram Naik pinned hopes on Finance Minister announcing some fiscal measures to avoid a certain increase in prices of petroleum products,
Petroleum Minister Ram Naik on Friday said oil companies will revise prices of domestic LPG only after Finance Minister Jaswant Singh replied to the Budget debate in Lok Sabha on Tuesday next.\n