Leader of the Opposition Lal Kishenchand Advani raised the issue of the Chinese envoy's remark.
Reverting to high growth, managing inflation and insulating India from adverse global economic situation are the major challenges before the country, Finance Minister Pranab Mukherjee said on Friday.
In the turf war between the battered Communist Party of India-Marxist and its arch rival, Trinamool Congress, veteran Congressman and Union Finance Minister Pranab Mukherjee has found a new place of prominence.
Ahead of the Left meeting on Thursday to decide on Presidential poll, Pranab Mukherjee has reached out to CPI-M General Secretary Prakash Karat to seek his support but did not get any commitment.
Finance Minister Pranab Mukherjee on Friday said the rural spending would not be affected by the drought situation caused by delayed monsoon, but was likely to improve due to the government's flagship NREGS. He said there would be some revival in the third and fourth quarters though the overall growth would be moderate, with the current year recording a growth rate of 6 per cent.
Finance Minister Pranab Mukherjee spelt out the details of the United Progressive Alliance's austerity measures on Friday, saying he has advised ministers to travel in the Economy Class domestically and in the Business Class during international travel. The Finance Ministry has asked the various ministries to ensure a 10 per cent cut in non- planned expenditure, except in expenses related to security.
"In India, we derive our strength from tolerance, and respect our pluralism. We celebrate our diversity," he said.
Her letter, mostly in jest, also highlights the problems that women face in the country, particularly in the national capital.
President Pranab Mukherjee has advised state governors not to undertake official visits outside their states as part of the campaign for the Lok Sabha polls.
Output of the manufacturing sector, which constitutes over 75 per cent of the index, rose 8.5 per cent in January, compared to 8.1 per cent in the same month last year.
When the industrial crisis engulfed developed countries and the financial meltdown became a major financial crisis all over the world, it had its worst impact, the minister said adding that credit is required for investment, for carrying business and using it for productive purposes.
Underscoring the need for the society to introspect and find ways to prevent crimes against women, President Pranab Mukherjee on Tuesday exhorted universities to meet the requirements of moral challenges faced by society.
"It is the job of Parliament to legislate. We (government) had several rounds of discussion with him (Anna Hazare) and his team. We know their viewpoints. About nine rounds of meetings have already been held with them. Thereafter also, through interlocutors some discussions also took place with them," Mukherjee told media persons at his south Kolkata residence.
Observing that Islam does not have any link with terrorism, External Affairs Minister Pranab Mukherjee said that sometimes religious texts are misinterpreted to commit terrorist activities.
Finance Minister Pranab Mukherjee and Home Minister P Chidambaram on Saturday elicited the views of their junior cabinet colleagues and Congress leaders from Andhra Pradesh on the Telangana statehood demand, which has virtually divided the party on regional lines.
Manmohan Singh, reveals the former President, was keen that either P Chidambaram or Montek Singh Ahluwalia be the finance minister.
The minister said at a time when banks in the US and Europe needed government support for survival, banks in India were strong enough to sustain on their own.
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.
The launch of the intermediate range ballistic missile Agni-III should be seen as a stepping stone in pushing the country towards further advances in military technology, the defence minister said.
Amid recessionary fears in advanced economies, India's Finance Minister Pranab Mukherjee has called for channelising global surpluses to build infrastructure in developing nations to boost world economy.
G-24 grouping comprises 24 developing countries from Asia, Africa and Latin America.
Diplomat-turned-politician Mani Shankar Aiyar on Friday tore into United Progressive Alliance's handling of Anna Movement, which he said was a "Frankenstein monster" created by the central government itself.
Asking the state finance ministers to resolve the pending issues expeditiously, the Centre on Thursday said introducing Goods and Services Tax was critical for economic reforms.
The fiscal deficit, which is the difference between total expenditure and revenue, as percentage of GDP will come down from 6.9 per cent in the revised estimates for the current fiscal, he said unveiling the 2010-11 Budget in the Lok Sabha.
Justifying the hike in customs duty on gold in the Budget, Finance Minister Pranab Mukherjee today said its huge imports cause strain on the balance of payment and affect exchange rate, but it does not have any direct bearing on the forex reserve.
The OECD is a club of developing countries and has been playing a key role in reforming the international taxation system.
The new United Progressive Alliance government will prepare an approach paper to address the key issues of the economy against the backdrop of the global economic slowdown.
"Despite the global economic crisis, we grew by 6.7 per cent last year...This year, we are getting mixed signal," Mukherjee said, while noting that indicators are coming good from industrial production data and in terms of business demand and investor confidence.
The two also met corporate affairs minister Salman Khurshid, who asked them to keep his ministry in the loop.
The Bharatiya Janata Party on Friday spurned Finance Minister Pranab Mukherjee's request for inputs on the proposed Lokpal Bill, arguing it would not be proper for a political party to submit its views to a drafting committee comprising civil society members as it would upset constitutional propriety.
Food inflation numbers have moderated every week since early November when it stood at double-digit.
In the past three years, agreements on defence cooperation have been entered into by India with several countries, including China, Russia, the UK and France, Mukherjee said.
Here are few excerpts from the July 30 debate
External Affairs Minister Pranab Mukherjee, who arrived in Kabul on Wednesday on a two-day visit, discussed cooperation in the field of security and developmental projects with President Hamid Karzai and Foreign Minister Rangin Dafdar Spanta.
Union Finance Minister and West Bengal Pradesh Congress Committee president Pranab Mukheree on Sunday ruled out any further division of West Bengal.The minister said no problem could be solved by force and hoped that the GJM would call off its indefinite bandh in the Darjeeling Hills.
President Pranab Mukherjee on Monday made a strong case for Bangladesh granting transit and connectivity to India, contending that this can pave the way for greater integration in South and South East Asia.
Speaking about the challenges and the opportunities of development in a globalised era, Mukherjee said, sustaining high growth over an extended period has become more complex.
'I think we will be able able to inspire confidence in the minds of prospective investors,' says Mukherjee.
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