The newly appointed Union Finance Minister Pranab Mukherjee took charge of his new office in north block, returning to it after a gap of 24 years. The Finance Ministry office, which has been sealed off to outsiders and particularly prying journalists with the vote-on-account preparations in full swing, was on Thursday opened up at 4 p.m. when the media was invited in to cover the taking over ceremony.
The Finance Ministry may introduce a proposal in Budget 2008-09 to allow urban cooperative banks to get tax deductions up to a specified limit for the amount they set aside as provisions for bad loans.
All FIPB records will now be digitised; old and unnecessary files will be weeded out
The NRSC satellite imagery revealed that the lake covered approximately 162.7 hectares. Its area increased to 167.4 hectares on September 28 but drastically reduced to 60.3 hectares.
Under this scheme, North Block may waive both interest and penalty for defaulters and an announcement to this effect is expected in Budget 2008-09 due next month, according to a senior finance ministry source.
The finance ministry is expected to announce the abolition of tax deducted at source (TDS) on corporate bonds in Budget 2008-09, official sources told Business Standard.
Relations between the Mint Road and North Block have often been frosty, with the former's calls for lowering rates being the biggest point of difference
7/11: Home secy given evidence of Pak hand
The Reserve Bank of India may soon be given the job of both collecting and processing inflation data.
The implementation of the commodities transaction tax is likely to be delayed to the end of the year or even next year, thanks to the spiralling inflation and its political fallout.
Maoists torched three vehicles, two machines engaged in road construction work and four mobile towers at separate places in Chhattisgarh's Kanker district, the police said on Monday.
Three days after he was shot while delivering a speech in the western Japanese city of Nara, Abe Shinzo, Japan's longest serving prime minister, began his final journey in Tokyo.
Unlike the finance ministry which takes a larger view, the commerce ministry only looks at exporters' interests.
'The prime minister has not yet expressed anything regarding Manipur. Is Manipur a part of India or not? If it is, why hasn't the Prime Minister of India spoken about it'
A Trinamool Congress legislator on Sunday threatened to not support any bill tabled by the government in the West Bengal Assembly in the future and abstain from voting in the upcoming Rajya Sabha polls in the state if 'atrocities' on his loyalists allegedly by a rival faction continued, even as the Bharatiya Janata Party said the collapse of the Mamata Banerjee government was just a matter of time.
The finance ministry is working on a Cabinet note for establishing a full-fledged Public Debt Management Office, officials told Business Standard.
Finance Ministry and Reserve Bank of India on Thursday sought to play down their differences in perception on interest rates.
ONGC Videsh Ltd (OVL) on Wednesday said its $5 billion bid to buy a stake in Kazakhastan's biggest oilfield has been blocked by the central Asian nation.
There are serious issues in the economy which need to be addressed
From the drones show to projection mapping show, this year's ceremony also presented quite a few firsts.
Sarma said no NDA partner will enter into any alliance with either Congress or the Trinamool Congress after the results are declared on Thursday.
The big guys have access to funds overseas, and their cost of borrowing does not change at all. If anything, a tighter domestic monetary situation gives them a comparative advantage when it comes to the cost of borrowed funds.
Officials in North Block are wondering if a new tax will be mooted again and whether that will pertain to foreign investments.
There is the problem of regions in the North East being theatre for power-play by nations with borders and influences converging in those parts, which in turn requires a sizable presence of the armed forces, notes Shyam G Menon.
If the new governor can think out of the box even as he signals that he can bat for the RBI cadre and respect its institutional memory, that will go a long way in getting out of the current impasse.
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