Amid ballooning fiscal deficit, the government on Tuesday categorically said that it has 'no intention' to monetise its debt, which implies that it will not directly borrow from the Reserve Bank of India. As fiscal deficit is projected to be at 6.8 per cent of gross domestic product this fiscal and the government has pegged its market borrowings at around Rs 4 lakh crore (Rs 4 trillion) for 2009-10.
The Union Budget may be presented around the middle of March in view of the ongoing Assembly elections, Finance Minister Pranab Mukherjee indicated on Wednesday.
Finance minister Pranab Mukherjee had a brief meeting with Prime Minister Manmohan Singh on salient features of the Budget.
"The bank strike is expected to be called off today. I am being told that talks are on between the bank associations and worker unions," he said replying to supplementaries during the Question Hour.
Market participants say the focus of Finance Minister Pranab Mukherjee will be on fiscal deficit, more so in the wake of the recent debt crisis in some Europeon countries.
'Modi had not discussed demonetization with me prior to his announcement on 8 November 2016. 'I learnt of it along with the rest of the country. 'I was not surprised when he did not discuss the issue with me prior to making the public announcement. 'It fitted in with his style of making dramatic announcements.' A fascinating excerpt from Pranab Mukherjee's The Presidential Years: 2012-2017.
He further said that advanced tax collection and industrial production at 17.6 per cent in the month of March are very positive and encouraging.
The much-awaited talks to finalise the seat-sharing issue between Congress and Trinamool Congress for the coming Assembly elections in West Bengal ended inconclusively in Kolkata on Tuesday night.
Minister of State in Prime Minister's Office, Prithviraj Chavan, considered close to Prime Minister Dr Manmohan Singh, was selected as the new Maharashtra chief minister on Wednesday morning.
Union Finance minister Pranab Mukherjee said banks have positively responded to his suggestion to reduce credit interest\nrates.
Finance Minister Pranab Mukherjee presented the Union Budget 2010-11 in parliament on Friday.
With the exit of Dravida Munnetra Kazhagam leader A Raja from the Union government in the wake of the massive telecom scam and President Pratibha Patil accepting his resignation late on Monday evening, Union Finance Minister Pranab Mukherjee is likely to table the CAG report on the 2G spectrum controversy in Parliament on Tuesday.
In his Budget speech, Finance Minister Pranab Mukherjee announced that the government is committed to the universalisation of the Integrated Child Development Services scheme in the country. Expressing grave concern at the low level of female literacy in the country, Mukherjee said the aim of the National Mission for Female Literacy would be to reduce the current level of female illiteracy by half in three years.
The all-party meet called by Union Finance Minister Pranab Mukherjee to resolve the deadlock in the Parliament ahead of the Budget session ended inconclusively on Tuesday with the Bharatiya Janata Party-led Opposition sticking to their demand for a Joint Parliamentary Committee probe into the 2G scam.
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.
The Union finance ministry has set up a special investigation unit to 'regulate' the funding and donations made to political parties.
The five-day meeting, whose pre-plenary sessions began today, will provide a platform for high-level discussion and co-operation and would evaluate the progress by APG members in implementing the international standards to combat money laundering and the financing of terrorism, a statement said.
Cracking the whip after tough talk, the Congress on Tuesday suspended 12 rebel candidates including three sitting legislators who defied the party line and filed nominations as independents against 'official' nominees of Trinamool and Congress alliance in West Bengal.
Telephone calls from Congress ministers at the Centre, including Union Finance Minister Pranab Mukherjee, on behalf of the party high command may have forced Dravida Munnetra Kazhagam president M Karunanidhi to seal the fate of Union Telecom Minister A Raja, who was asked to resign after he landed in Delhi last night.
The Union Budget 2010-11 seeks to address the needs of multi-service operators to invest in 'digital head end' equipment to adopt digital technology and keep pace with on-going transformation in infotainment sector.
Bharatiya Janata Party spokesman Shahnawaz Hussain on Saturday said the country is not being run by a government, but a private limited company whose basic job is to protect the interests of oil companies and not the common people. He was addressing a news conference at the party headquarters in New Delhi on Saturday. He demanded that the union government must immediately rollback the fuel price hike.
Amid the growing chorus against black money and the government's efforts to pull the plug, Union Law Minster M Veerappa Moily has suggested Finance Minister Pranab Mukherjee to completely overhaul the tax administration.
The government will launch a project for modernising employment exchanges, which will help the youth to get jobs by registering themselves online at any exchange in the country.
As indicated by Union finance minister Pranab Mukherjee, the UPA government has already initiated process to make higher allocation in social sector.
The move to extend the income tax benefits enjoyed by units covered by the Software Technology Parks of India Act and those set up in export oriented units by another year -- up to March 31, 2011 will benefit around 6,000 STPI units and 2,486 EoUs. In its budget-related wish list, the commerce ministry had recommended a three-year extension of the scheme, while the industry has been asking for five.
Congress General Secretary Rahul Gandhi, whose absence from the Lok Sabha was noticed by Union Finance Minister Pranab Mukherjee while presenting the Union Budget for 2011-12, has injured himself while exercising and has been advised complete rest for four weeks.
Haryana Janhit Congress-Bharatiya Janata Party alliance candidate Kuldeep Bishnoi won the Hisar by-poll by defeating nearest rival Ajay Chautala of Indian National Lok Dal by 23,617 votes.
This is Finance Minister Pranab Mukherjee's fourth regular Budget.
Despite the attempts made by the opposition to keep the Bhopal tragedy alive, the Congress leadership has made efforts to put a deliberate closure on the issue.
Budget silent on issue, major decisions unlikely before 2014 election.
As the role of the powers-that-be in the government comes under the scanner, pressure is being mounted on the two ED officers investigating the 2G case from the highest level, particularly the finance ministry.
Why the Union Cabinet was so impatient to allow FDI in multi-brand retail flummoxed many.
Presently, customs duty on natural rubber, the principal raw-material for tyres is 20 per cent, whereas the customs duty on tyres (the finished product) is 10 per cent, or even lower depending upon preferential/concessional tariff under various regional/bi-laterial trade agreements.
Pranab presents his fourth Budget.
Full convertibility is presently not allowed under Indian law and the government is in no hurry on that path.
Dubbing the United Progressive Alliance at the Centre as "the most corrupt government ever seen by independent India", senior Bharatiya Janata Party leader L K Advani on Saturday wanted the Lokpal bill to be passed in the next session of Parliament itself.
"If I go there at all, I would be addressing the (US-India) CEOs meeting and also have some bilateral meetings with Treasury officials. I do not know of any other meeting. I do not know from where these things come," he told media persons in Ahmedabad when asked about reports about his plans to meet with Dow Chemicals CEO Andrew Liveris in the US.
Ludhiana's readymade garment makers on Wednesday announced shutting down of operations for a day on March 4, perturbed by the latest budget proposal, making 10 per cent excise duty on branded apparels mandatory.
When Union Finance Minister Pranab Mukherjee came to the All India Congress Committee headquarters on Tuesday evening to meet the Congress Working Committee members and party office bearers and hear their suggestions on what should be incorporated in the coming budget for the aam admi, he was bombarded with suggestions.
In his desperate bid to bring back the India-England World Cup match to Eden Gardens, Cricket Association of Bengal chief Jagmohan Dalmiya on Saturday called on Union Finance Minister Pranab Mukherjee, though authorities in Kolkata denied taking any political help.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances