Expressing commitment to push forward economic reforms, Finance Minister Pranab Mukherjee today said the government is making efforts to build a consensus on important economic legislations, including PFRDA and foreign investment in multi-brand retail.
Protesting the 'erroneous' stand, Prasenjit Bose, former convenor of the research unit of CPI-M, decided to send his resignation letter to the CPI-M leadership, and was later expelled from the party. We present the letter, where he elaborates his stand, which was first published in Pragati, on July 22.
The Congress on Monday bid a warm farewell to Finance Minister Pranab Mukherjee, poised to become the country's President, with Prime Minister Manmohan Singh saying that the veteran leader will be missed.
The sharp decline in rupee against the dollar is a cause of concern and there are expectations that steps would be announced to boost the domestic currency, the finance minister said.
Expressing regret over the fact that Parliament was not functioning smoothly despite the government's best efforts, Prime Minister Manmohan Singh on Wednesday sought constructive cooperation from all parties to make the House live up to the role the founding fathers envisioned for it. "It is unfortunate that despite our best efforts, Parliament has not been running smoothly," Dr Singh said while giving the K Karunakaran Award to Finance Minister Pranab Mukherjee.
The deadline set by anti-corruption crusader Anna Hazare for passing the Lokpal Bill is inching closer, but the government seems to be in no hurry. Sources in the government said that the Union Cabinet is unlikely to discuss the Lokpal Bill on Sunday.
Bharatiya Janata Party leader Maneka Gandhi, who met Finance Minister Pranab Mukherjee in New Delhi on Monday, described him as an excellent candidate for the coveted post of President of India.
Mukherjee said it was not necessary for the RBI governor to consult him before the mid-quarterly review of the credit policy.
Finance Minister Pranab Mukherjee, Home Minister P Chidambaram, Defence Minister AK Antony and Congress president's political secretary Ahamed Patel were present at the Congress core group meeting in which the Lokpal issue was discussed, sources said
Toughening its stand, key United Progessive Alliance constituent Trinamool Congress on Thursday said if the Congress names Finance Minister Pranab Mukherjee or Vice President Hamid Ansari as its Presidential candidate, it will "contest" the election with A P J Abdul Kalam as its nominee.
Having rejected the three names proposed by the Trinamool Congress and the Samajwadi Party combine, the Congress is expected to come out with the name of the United Progressive Alliance candidate either on Thursday or Friday.
Industrial output growth rate remained flat in April.
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.
Contending that economic growth has been high during United Progressive Alliance rule, he admitted that gross domestic product of 7 per cent was 'not adequate' but refused to accept the opposition contention that it was all time low.
Strongly defending its decision to allow FDI in retail, Finance Minister Pranab Mukherjee on Thursday told Congress Members of Parliament that the government was "compelled" to suspend the move to avoid "pre-mature elections". Addressing the Congress Parliamentary Party, Mukherjee also apologised to members who had supported the government in allowing FDI in retail but said going ahead with the decision could have created a "crisis" for the government.
In Kolkata, Chief Minister Mamata Banerjee let her annoyance be known.
Prime Minister Manmohan Singh on Wednesday discussed with his senior Cabinet colleagues the Mullaperiyar dam issue over which Tamil Nadu and Kerala have been at loggerheads.
Stepping back to break the logjam in Parliament, the government on Wednesday put the controversial decision on foreign direct investment in retail on the backburner till a consensus is evolved, a proposal the entire opposition and the dissenting allies accepted without reservation.
The Mamata Banerjee government, which came to power in July last year, has been demanding special package in the form of interest moratorium.
Union finance minister Pranab Mukherjee said Indian diplomacy needed to acquire an economic perspective to its thinking and strategic approach, for furthering the country's interests in the changing global order.
Concerned over high service tax substantially raising air ticket prices, Civil Aviation Minister Ajit Singh has urged Finance Minister Pranab Mukherjee to revert to the earlier rates which were capped at Rs 100 and Rs 500 per domestic and international ticket.
Rashtriya Lok Dal chief and Civil Aviation Minister Ajit Singh on Monday described Finance Minister Pranab Mukherjee as a "qualified" candidate for the post of President but said his views on others were equally positive.
Financial performance, tax issues to be discussed on June 13 meeting.
The demand got a further clout after the economic growth in 2011-12 recorded the nine-year low growth of 6.5 per cent.
The controversy over allowing FDI in retail rocked Parliament for the third day on Tuesday with a united opposition forcing adjournment of both the Houses till noon. Shortly after the Lok Sabha met for the day, members rushed to the Well, demanding rollback of the decision to allow FDI in the retail sector. Members of Trinamool Congress, a key partner of the United Progressive Alliance, kept shouting 'Cancel FDI in retail'.
The GoM has proposed that 26 per cent of the net profit of mining projects should go to the displaced tribals and other affected locals.
Terming decline in economic growth rate to nine-year low of 6.5 per cent in 2011-12 as "disappointing", Finance Minister Pranab Mukherjee said the government will take "necessary steps" to improve growth.
The finance ministry on Wednesday provided relief to the Rs 18,000-crore (Rs 180-billion) software industry by replacing a multi-level structure of tax deducted at source (TDS) on distributors with a single TDS. This would be deducted by the first distributor -- one who directly purchases packaged software from a developer.
Dr Manmohan Singh for President. The Congress cosies up to Mulayam Singh. Jaya Prada tries to cosy up to the BJP. All this, and more, in Dilli Gupshup....
Anna Hazare's demand for right to recall elected representatives and reject candidates is not feasible in a huge country like India, Union Finance Minister Pranab Mukherjee said on Friday and claimed that the provision, if implemented, would only create political instability.
Team Anna on Saturday clubbed Prime Minister Manmohan Singh and Finance Minister Pranab Mukherjee with 13 other cabinet ministers, whom they accused of corruption, which the Congress dismissed as "unsubstantiated averments" that need not be responded to.
Congress leaders say that part of their calculations and preparations for the Presidential poll have focused on getting the numbers without Mamata, reports Renu Mittal.
The White Paper, which was tabled by Finance Minister Pranab Mukherjee in the Lok Sabha, also did not provide government's estimate of black money, within and outside the country, though it quoted various estimates of other agencies on the issue.
Describing the prevailing global situation as "complex", Finance Minister Pranab Mukherjee today attributed the sharp fall in the stock markets to uncertainty over resolving the Eurozone problems in the wake of the Greek crisis.
With 2014 polls in mind, FM may provide individual tax payers relief despite fiscal constraints.
West Bengal Chief Minister Mamata Banerjee on Tuesday expressed disappointment about the outcome of a meeting with Union Finance minister Pranab Mukherjee on the financial condition of the cash-strapped state.
Releasing the book Icons of Pune, which profiles young entrepreneurs from the city, Mukherjee said the city was country's economic hub, with an expanding automobile and IT sectors.
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.
"Because when we disrupt the House then it serves no purpose. We cannot hear. We cannot speak. Only a handful of members completely throttle the desire of a silent majority to speak," Pranab Mukherjee said, initiating the debate to commemorate the 60th anniversary of the first sitting of Parliament.
During his whirlwind election tour in Tamil Nadu, Kerala and Puducherry, Finance Minister Pranab Mukherjee, also the United Progressive Alliance's chief interlocutor, tells Saubhadra Chatterji the government has its own way of moving against corruption:
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