Finance Minister Pranab Mukherjee on Friday sought to downplay the controversy over austerity measures that had kicked up a row in the cabinet meeting on Thursday saying it could be due to some misunderstanding.
The Pittsburgh summit could determine the timing of a calibrated winding down of public spending, now that the signs of a global economic recovery are evident.
'Agri reforms need to go beyond the limited concerns of these three laws in improving agriculture productivity in cereal and crop diversification and production patterns.'
Two important features are Effective Revenue Deficit and Medium Term Expenditure Framework.
The two also met corporate affairs minister Salman Khurshid, who asked them to keep his ministry in the loop.
Direct tax collections fell Rs 12,000 crore (Rs 120 billion) short of the Rs 3.87 trillion target last fiscal, largely owing to lower realisation from corporate tax payers.
In view of the severe drought and growing prices of essential commodities, Prime Minister Manmohan Singh has constituted a crisis management group of Ministers (GoM) for monitoring the situation on a day-to-day basis.
Once the tremors of Mamata Banerjee and Mulayam Singh Yadav's political shock dies down, they will return for fresh negotiations with the Congress, notes Sheela Bhatt.
Here are few excerpts from the July 30 debate
Former Union Minister and Bharatiya Janata Party official spokesperson Shahnawaz Hussain on Sunday said his party would disclose its strategy on Presidential elections only after the ruling United Progressive Alliance coalition announces name of its candidate.
India-China relations have always attracted Parliament's attention and there have always been useful and productive and constructive discussions how to engage with China, notes Rup Narayan Das.
India's economy will revert to the pre-crisis growth level of 9 per cent in the next financial year.
The Congress Working Committee on Monday authorised party President Sonia Gandhi to decide on the candidates for the coming Presidential and Vice Presidential elections.
Under the Budget being presented by Finance Minister Pranab Mukherjee, the Plan expenditure for both the Centre and the states will go up by Rs 61,000 crore (Rs 610 billion) over the Interim Budget.
In an exclusive interview with CNN-IBN Editor-in-Chief Rajdeep Sardesai, Coal Minister Sriprakash Jaiswal assures to begin the process of de-allocation of coal blocks against the errant companies from September 16 while strongly defending the government policy.
The failure of Finance Minister Pranab Mukherjee's Budget in slashing securities transaction tax, the status quo when it came to short-term capital gains tax, no substantial increase in exemption level for calculating personal income tax and no complete tax exemption on interest income earned by senior citizens was a huge letdown for Siddharth Kuvavala.
At present, zero coupon bonds which are issued at a discount to the face value and where interest is in-built, are allowed to be issued only by infrastructure companies or public sector organisations.
Finance Minister Pranab Mukherjee on Monday said that he proposes to exempt the income of New Pension System Trust from the income tax and any dividend paid to this Trust from Dividend Distribution Tax.
Finance Minister Pranab Mukherjee on Monday said that government has taken a conscious and bold decision to enhance the Gross Budgetary Support for the Annual Plan 2009-10 by Rs.40,000 crore (Rs 400 billion) over the Interim Budget for 2009-10.
Here is a financial glossary of words and phrases linked to the budgetary exercise to help you manoeuvre your way through the maze that is the Budget.
Finance Minister Pranab Mukherjee's decision to co-contribute, for 3 years, Rs 1,000 per annum to each individual who opens an account under the New Pension Scheme is more than welcome.
The government on Monday said that it had not violated any election code of conduct in connection with its ambitious direct cash transfer scheme as it was announced in the budget speech by the then Finance Minister Pranab Mukherjee.
The government today extended the tenure of Chief Economic Adviser Arvind Virmani by three months on a temporary basis, said a finance ministry spokesperson. His current two-year term came to an end on Tuesday.
Pranab Mukherjee takes pride in being cautious.
The WPI inflation currently is ruling around 8.6 per cent. He said the duties like 5 per cent import duty on crude oil was abolished when international crude price touched a record high of $147 a barrel.
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.
Finance Minister Pranab Mukherjee would also share his perception on exit strategy at the G-20 Finance Ministers' meeting in Scotland, starting from November 6.
India Inc on Monday gave a thumbs down to the Interim Budget 2009-10, proposed by Finance Minister Pranab Mukherjee, saying it is a non-event and more of a political statement.
External Affiars and Finance Minister Pranab Mukherjee on Monday said the government cannot indulge in 'reckless borrowing' and did not have Parliamentary mandate to tweak taxes.
Experts agree with the assessment that the Budget next month would respond to the predictions of deficient monsoon rains with a policy package. According to them, rain-fed areas, which are likely to be affected by a 'below normal' monsoon, could see increase in allocation in terms of higher spending through the public distribution system and the National Rural Employment Guarantee Scheme.
When crony capitalism flourishes, investor sentiment is bound to take a hit.
Batting for exporters hit hard by global downturn, Commerce and Industry Minister Anand Sharma on Monday met Finance Minister Pranab Mukherjee and made out a strong case for fiscal relief for the export sector in the Budget next month.
The controversial VVIP chopper scam is set to turn the three-month-long Budget session of Parliament beginning Thursday into a troubled affair for the government with the Opposition raring for an attack eyeing the Lok Sabha polls which are not far away.
The United Progressive Alliance government will present its 10th Budget next week.
Exudes confidence that RBI's rate cut move will revive investments and business sentiment; India to get $6.25-bn ADB assistance over three years
Companies that loaded up on debt when India was being hailed as the world's second-fastest-growing economy are now deleveraging to clean up their balance sheets.
In a possible precursor to further rate cuts, Finance Minister Pranab Mukherjee's meeting with public sector bank chiefs on Monday will review their benchmark prime lending rates and interest rates on loans for automobiles, homes, small and medium enterprises and non-banking finance companies.
Chidambaram had expressed unhappiness over the manner in which the two major contributors to the subsidy bill, petroleum and fertilisers, were handled prior to his appointment.
The Finance Minister said despite adverse international environment, India managed to maintain GDP growth rate of about 7 per cent in 2011-12.
Bharti Airtel Chairman and Managing Director Sunil Bharti Mittal, Vodafone Plc CEO Vittorio Colao, Telenor CEO Jon Fredrik Baksaas and Idea Cellular Chairman Kumar Mangalam Birla on Wednesday met ministers and senior government officials to present the industry's concerns over telecom regulator Trai's proposals on the auction of spectrum.
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