Besides Mukherjee and Deora, the EGoM would have power minister Sushilkumar Shinde, fertiliser minister M K Alagiri, law minister Veerappa Moily and Planning Commission deputy chairman Montek Singh Ahluwalia.
Finance Minister Pranab Mukherjee on Thursday said the Reserve Bank's move to raise its short term lending and borrowing rates is in the right direction as inflationary pressures are still there in the economy.
Financial expert Anil Rego feels that there is nothing much Union Budget 2012-13 offers to the taxpayers.
State-owned oil firms have seen their losses on diesel sales widen to over Rs 6 per litre, even as a ministerial panel meeting on raising prices has not yet been scheduled.
The delegation, comprising leader of Opposition in Lok Sabha Sushma Swaraj, her counterpart in Rajya Sabha Arun Jaitley and others, said Mukherjee had assured them that DTC was only at the drafting stage and discussions were still on.
Amidst the flurry of political activities in Delhi over selection of the Presidential nominee, Union Finance Minister Pranab Mukherjee, whose name has been reported to be Congress' first choice as candidate, on Thursday telephoned former West Bengal chief minister Buddhadeb Bhattacharjee.
Proposed scheme will not provide immunity to tax defaulters.
The government has identified nine areas of concern in the Direct Taxes Code (DTC) draft, and they would be taken into consideration while it is being redrafted.
Finance Minister Pranab Mukherjee on Wednesday said Indian markets cannot remain immune to the Eurozone debt problems and will feel the impact if the $1 trillion bailout package by the European Union and the International Monetary Fund does not inspire confidence.
Crucial financial sector reforms are again stuck, despite Finance Minister Pranab Mukherjee's appealing to political parties to help pass the legislations in this regard.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Disruption is totally unacceptable in Parliamentary system, the President said.
Board of Control for Cricket in India Vice President Rajiv Shukla on Friday briefed Finance Minister Pranab Mukherjee on the ongoing Indian Premier League controversy.
Union Minister Shashi Tharoor met Finance Minister Pranab Mukherjee and Defence Minister A K Antony on Wednesday night as the controversy surrounding him in the IPL snowballed with the opposition demanding his sacking.
The government on Friday said that India is the fifth most indebted country among the 20 developing nations but its debt is within manageable limits.
The prime minister's Economic Advisory Council had said inflation would be at 7-8 per cent by the year-end, compared with 10.55 per cent in June.
Finance Minister Pranab Mukherjee has said that the successful implementation of the Goods and Services Tax (GST) can give a trillion-dollar boost to the economy, taking the total output to $2 trillion in a short span of time.
The finance minister said the consensus between the Centre and states is required to amendment the constitution for implementing goods and services tax.
The fiscal deficit, estimated at 4.6 per cent of the gross domestic product, is expected to be around 5.6 per cent, mainly on account of factors like subdued revenue collection, poor disinvestment receipts, high global commodity prices and increasing subsidy bill.
With BJP president Nitin Gadkari refusing to take back his Afzal Guru 'son-in-law of Congress' remark, Union Finance Minister Pranab Mukherjee has said some decency was expected in comments by political leaders.
A senior official in the finance ministry said the Central Board of Direct Taxes addressed the nine areas of concern in the Code identified by Finance Minister Pranab Mukherjee.
The Union Finance Minister Pranab Mukherjee on Thursday hoped that the steps taken by the government and those by the Reserve Bank of India would bring the inflation down to six percent by the end of this financial year.
Finance Minister Pranab Mukherjee said the economic recovery led by a robust revival in industrial growth is still not broad-based and is primarily guided by government stimulus measures.
The annual rate of price rise of food items in the previous week was 16.74 per cent. Week-on-week, prices of fruits and vegetables fell by six per cent and tea became cheaper by two per cent during the week under review.
Necessary funds are proposed to be allocated for the eight national missions that are being launched following the National Action Plan on Climate Change (NAPCC) unveiled last year.
Kautilya, widely known as pioneer of economics in India and author of Artha Shastra (rules of economics), was invoked for the fourth time in the country's annual Union Budget speech on Friday, including thrice by the incumbent Finance Minister Pranab Mukherjee.
Finance Minister Pranab Mukherjee, who gave up his smoking pipe years ago, feels that others too deserve encouragement to kick the habit and hence has subject tobacco products to higher taxation, while exempting toy balloons from central excise duty.
The delegation, which was led by Communist Party of India-Marxist member of the Parliament Basudeb Acharia, told Mukherjee that the urban cooperative banks have been put to 'extreme hardship' due to the hefty 30 per cent tax on profits.
He also said an impressive industrial growth of 16.8 per cent in December suggests the economy will grow by over 7.5 per cent in 2009-10 and over 8 per cent in the next fiscal.
Several of these measures have cooled down the rate of price increase in cereals and pulses, Mukherjee told Rajya Sabha on Tuesday.
The growth in the industrial sector was fuelled by manufacturing that expanded by 19.4 per cent in April, particularly in capital and consumer goods.
The Union finance ministry has kicked off the exercise for preparation of the Union Budget for the fiscal year 2012-13 and has asked all ministries to rush proposals by October 31 for inclusion in the second supplementary budget for 2011-12 to be presented in the winter session of Parliament.
The Union Budget is in the wings. While economists, analysts and political pundits are busy making predictions about the biggest annual financial event in the country, common people are no less interested either.
Finance minister Pranab Mukherjee had a brief meeting with Prime Minister Manmohan Singh on salient features of the Budget.
Insisting that the controversy over the finance ministry note on 2G spectrum issue with inferences against P Chidambaram is not over, Bharatiya Janata Party on Monday said Finance Minister Pranab Mukherjee has bowed to wishes of the "head of the family" and asked him to clarify where he disagreed with it.
While drought in about half of the country, including producing regions of north-western India, hampered the sowing process, with areas under the paddy crop declining by about six million hectares, floods in Andhra Pradesh, Karnataka and Maharashtra damaged the standing crop.
Jewellers remained firm over complete rollback of excise duty.
Finance Minister Pranab Mukherjee on Thursday stuck to his conservative estimate of economic growth at 8.5 per cent this fiscal and said the economy will be on the high expansion path at 9 per cent in 2011-12.
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President Pranab Mukherjee has sought to counter criticism against the economic stimulus provided when he was the Finance Minister in 2009 and maintained that economy under him registered high growth rates.
Welcoming the truce between the Ambani brothers Mukesh and Anil, Finance Minister Pranab Mukherjee on Monday said it would do a lot of good to the business world.
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