Finance Minister Pranab Mukherjee, who took additional charge of the finance ministry recently, has rejected a Planning Commission proposal to increase the upper limit for Viability Gap Funding (VGF) for infrastructure projects coming up under the public-private partnership model.
Presenting the Interim Budget in Lok Sabha, the minister said the enactment of the Act by the Centre and many states has 'bridged a critical gap in the public decision-making process and ushered in greater accountability of public servants.'
Describing the prevailing global situation as "complex", Finance Minister Pranab Mukherjee today attributed the sharp fall in the stock markets to uncertainty over resolving the Eurozone problems in the wake of the Greek crisis.
Fearing further moderation in economic growth in the next fiscal, the government on Friday said it would take more steps to boost the labour-intensive sectors.
Lok Sabha passes Finance Bill; Will introduce a white paper on black money in current session: FM
Having rejected the three names proposed by the Trinamool Congress and the Samajwadi Party combine, the Congress is expected to come out with the name of the United Progressive Alliance candidate either on Thursday or Friday.
Government on Friday did not rule out setting up of a Joint Parliamentary Committee to probe into the Indian Premier League controversy with Finance Minister Pranab Mukherjee saying a decision would be taken after 'due diligence.'
The defence minister indicated that major defence deals like building of French Scorpion submarines and multi-role fighter aircraft for the Indian Air Force would go through.
Large number of terror camps active along LoC: Pranab
"We expect Pakistan to do whatever it has committed. We want it to fulfill its promises, fulfill its commitments as a responsible nation of the international community," External Affairs Minister Pranab Mukherjee told media persons, adding, "No responsible nation can escape its commitment."
The chief minister said he recently had meetings with the prime minister, union home minister and foreign minister and discussed matters pertaining to the dialogue and peace.
The money, together with disinvestment proceeds, is crucial for Mukherjee to meet his fiscal deficit target of 5.5 per cent for 2010-11 from 6.7 per cent in 2009-10.
White Papers, which are issued by the government, lay out the policy or proposed action on topics of current concern.
Mukherjee could not implement nine of the promises he made in his Budget for 2009-10 and most of these pertained to significant areas of the economy.
The government on Saturday said it has served notices to 17 persons who allegedly kept untaxed money in foreign banks and prosecution has begun against them, but refused to reveal their names. The comments, made by Finance Minister Pranab Mukherjee, came a day after some media reports revealed names of 15 entities, including individuals and trusts, who allegedly kept illicit money in LGT Bank of Liechtenstein, an European country neighbouring Switzerland.
India's Finance Minister Pranab Mukherjee will arrive in London on Thursday to participate in the two-day G20 Finance Ministers' and Bank Governors' meeting commencing on Friday to discuss the financial crisis.
Finance Minister Pranab Mukherjee on Monday said the Direct Taxes Code (DTC), which will replace the Income Tax Act, is proposed to be implemented from April 1, 2012."
The decision was taken a meeting held by Congress chief Sonia Gandhi with Mukherjee, Chidambaram and other senior leaders like A K Antony, Ghulam Nabi Azad, Prithviraj Chavan and Saifuddin Soz, party sources said
"Our advice is not to further escalate tension and defuse the situation through dialogue and discussion."
With External Affairs Minister Pranab Mukherjee set to visit Iran on February 6, there will be more than one pair of eyes watching the visit closely.
Ahead of the crucial meeting of the Dravida Munnetra Kazhagam top brass in Chennai, Congress on Saturday signalled that its seven-year-old alliance with the Dravidian party in poll-bound Tamil Nadu, would be saved.
Making a strong defence of the nuclear deal during the debate on confidence motion, External Affairs Minister Pranab Mukherjee rejected the Left parties' allegations of betrayal and took potshots at leader of opposition Lal Kishenchand Advani, saying he should not "distort" facts in "over enthusiasm" to score political points.
Finance Minister Pranab Mukherjee on Friday said surging food and fuel prices amid weak global economic growth are adversely impacting GDP growth of the country.
Finance Minister Pranab Mukherjee said the government is examining the decision of the Income Tax tribunal in the Bofors case and will decide the future course of action later.
Ending days of suspense, Congress President Sonia Gandhi on Wednesday made it clear that Finance Minister Pranab Mukherjee was her first choice for Presidentship and Vice President Hamid Ansari was also in the reckoning.
Hitting back at the Bharatiya Janata Party for demanding a joint parliamentary committee probe into the 2G spectrum allocation, Finance Minister Pranab Mukherjee on Friday said it had no right to speak on the issue as the Tehelka sting operation had earlier exposed its party president taking a bribe on camera. "People should not forget what we have seen in the earlier regime, what happened in Tehelka. How the president of a national party was found taking money," he said.
The Union defence minister, however, said India wanted to strengthen its "good" relations with Pakistan.
GDP growth in 2010-11 stood at 8.5 per cent.
The two parties are deadlocked over on a deal over sharing of seats following DMK's decision on Saturday to pull out its ministers from the UPA government over Congress attitude.
However, so far only 16 states have amended their Acts based on the model provided by the centre.
On the occasion of his 81st birthday, political leaders across parties and other eminent personalities greeted President Pranab Mukherjee.
Finance Minister Pranab Mukherjee might have to fall back on divestment and other non-tax revenue sources while presenting the Budget for 2009-10 on July 6, economists believe.
Insisting that all options are open on dealing with terrorism emanating from Pakistan, The government said on Sunday that nobody should think that India is "helpless" and asserted that the menace would be confronted with "courage and fortitude".
Mukherjee is in Washington, DC to co-chair the US-India CEO's Forum with US Treasury Secretary Timothy Geithner.
The Empowered Group of Ministers, which is looking into the debacle of the Dabhol power project
The economic stimulus package to protect the country from the impact of the global financial crisis would continue till the economies of Europe and the US recover, Finance Minister Pranab Mukherjee said on Sunday.
From starting off his career a teacher in West Bengal to joining politics and holding several ministerial positions, it has been an enviable journey for Pranab Mukherjee through the echelons of power.
India is ready to share more information with Pakistan if Islamabad wants any more dossiers to further its investigation into the 26/11 Mumbai attack, External Affairs Minister Pranab Mukherjee has said. He reiterated that Pakistan has not given any report to India on its probe into the terror strikes and that a lot of reports have appeared in the media in this regard. Mukherjee's statement contradicts that of National Security advisor M K Narayanan.
Describing the Mumbai attacks as the "most gruesome" manifestation of terrorism, India on Thursday asserted that it will use all means at its command to put an end to the cross-border scourge. External Affairs Minister Pranab Mukherjee said Mumbai was chosen as a target by Pakistani terrorists as they wanted to hit India's business and corporate "vistas".
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