Documents related to 2G spectrum allocation cannot be accessed by the public till the Joint Parliamentary Committee completes its probe and submits its report, the Central Information Commission has stated. The JPC, which is probing the high-profile scam, has directed the finance ministry not to reveal any information till it completes the probe.
India's foreign investment panel has approved Swedish retailer IKEA's Rs 10,000 crore plan to set up shop in the country, the trade minister said.
The sluggish market situation notwithstanding, Finance Minister P Chidambaram on Thursday clarified to ministry officials he wouldn't accept any slippage in the government's Budget divestment target of Rs 30,000 crore (Rs 300 billion) for this financial year.
The rupee has lost over 2.5 per cent in the two trading days of this week and nearly 10 per cent in the past six weeks on concerns of scaling down of stimulus packages by the US.
Chidambaram said it was a 'despicable slur' on the six secretaries of the government.
DEA official writes to DIPP suggesting that govt needs to understand what has been left out, and why, in the revised application of the retailer.
The price would increase from $4.2/mbtu to $10/mbtu if Rangarajan formula is accepted.
The foreign investment proposal by Italian jewellery brand Damiani to set up a 51:49 joint venture with Mehta's Pvt Ltd also got the government's approval, sources said.
Industry is demanding a cut in repo rate to help revive India's sagging GDP growth that hit decade's low of 4.5 per cent in the third quarter of 2012-13.
Major gainers in the Sensex pack were Hero Motocorp, which rallied 7.01 per cent, followed by Bharti Airtel (6.69 per cent), Yes Bank (5.30 per cent), Adani Ports (4.90 per cent), Tata Steel (3.75 per cent) and Bajaj Auto (3.70 per cent).
In a note for the Cabinet Committee on Economic Affairs, the ministry has proposed raising gas price for state-run firms immediately and that for RIL from April 2014, sources privy to the development said.
A 10-hour RBI central board meeting, on November 19, decides to set up a panel on the economic capital framework for the central bank and directs it to give forbearances to small businesses.
Traditionally, the Budget making exercise begins from mid-October.
Mandatory pvt participation, annual tariff hikes, conforming to FRBM limits seen difficult.
The call for rate cut comes ahead of the annual monetary policy announcement scheduled for Friday, wherein it is widely expected that the apex bank will cut lending rates by 0.25 per cent as inflationary pressures have eased much more than its projected levels.
The broader NSE Nifty, in a volatile session, recaptured the key 11,300-mark. It ended at 11,369.90, up 82.40 points or 0.73 per cent.
It is more than certain that coal supply is a major constraint on power production; and power is a major constraint on industrial growth.
Bihar Chief Minister Nitish Kumar has long been demanding special category status for his state.
Tech giant allowed to set up fully owned shops, with 30% local sourcing like everyone else.
North Block and Mint Road seem likely to now stick to the earlier convention of the RBI governor coming to Delhi and being the only MPC member meeting the finance minister and senior bureaucrats on pre-policy meetings
This is not her first stint in North Block or in leading a major economic ministry. She started Prime Minister Narendra Modi's first term as minister of state for finance, was made the commerce minister, and then became the defence minister.
The Department of Disinvestment proposes to begin the stake sale process in September.
A government panel said policymakers and regulators should have an open mind regarding the introduction of an official digital currency in India.
The government would be ironing out issues related to the controversial 'bail-in' clause in the earlier Bill, explore hiking the deposit insurance cover of customers, and decide whether the resolution framework should apply to public sector banks.
Rajan has shifted from the conventional ground floor room occupied by CEAs to a room on the first floor, adjacent to Chidambaram's office.
The move is part of a larger initiative by the government to speed up work in the highway sector.
While the FPI limit on most bond issues would not be raised above 6 per cent, there would be some in which there would be no limits, reports Arup Roychoudhury.
The approval for provisioning of Rs 20,000 crore as subordinate debt to provide equity support will benefit 2 lakh stressed MSMEs.
At a pre-Budget meeting, the FM was asked to ensure that NBFCs come out of the liquidity crisis they are facing with the help of RBI. They also spoke about the futility of trying to achieve a 3 per cent fiscal deficit target over the medium term.
A Russian fund submitted its interest to the resolution professional on February 14 and also hired a consultancy firm to help them with the bidding process.
"Historically, all possible combinations have occurred: inflation with and without [economic] development, no inflation with and without [economic] development".
Foreign airlines can now pick up 49 per cent stake in India's domestic carriers, a step that is expected to give a boost to cash-strapped aviation industry.
A direction is this regard was given on Wednesday after Finance Minister P Chidambaram and Coal Minister Sriprakash Jaiswal met in the presence of the secretaries of the Department of Economic Affairs and Coal Ministry
The Finance Ministry on Saturday said there is no dilution of the permission granted to the Swedish furniture major Ikea to set up its business in India, as the Rs 10,500 crore (Rs 105 billion) investment proposal is limited to only single brand retailing.
Even as the rupee plunged to a 10-week low against US dollar on Friday erasing almost the entire gains it made since the recent reform waves, the Finance Ministry on Saturday expressed optimism of a recovery before the fiscal-end and ruled out any intervention by RBI.
In a bid to sort out some thorny issues between India and Bangladesh -- including the delay in implementation of the land boundary agreement, signing of a deal to share water of the Teesta river, the Tipaimukh barrage project etc -- two advisers to Bangladesh Prime Minister Sheikh Hasina are currently visiting New Delhi.
The appointment of new expenditure secretary comes a month-and-a-half ahead of the Budget for 2020-21 to be presented on February 1.
The sources said the matter should have been referred to the Cabinet Committee on Economic Affairs as foreign investments above Rs 600 crore (Rs 6 billion) can only be cleared by Cabinet Committee on Economic Affairs headed by the Prime Minister.
The government is committed to restricting fiscal deficit at 5.3 per cent of GDP this financial year and has no immediate plans to go for additional market borrowings, a senior government official said.
The ED had filed the first chargesheet in the case against Chidambaram's son Karti; later, a supplementary chargesheet was also filed against him.
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