"The life of a Finance Minister is not easy. Various players, including policy makers, politicians, agriculturists and business houses, participate in the making of the economy."
The government on Monday proposed removing the sectoral restriction on venture capital funds, a move that will allow more startups beyond the current nine sectors to get access to growth-stage capital.
The government said it will provide capital support of Rs 15,888 crore (Rs 158.88 billion) to public sector banks and financial institutions during the next fiscal to strengthen their capital base.
Budget would have cascading impact on inflation and consumer demand.
Finance Minister Pranab Mukherjee made a quantum leap.
Food Security Act will be fully provided for and subsidy to be 2 per cent of GDP for next two years.
In order to augment funds for SMEs (Small and Medium Enterprises), Finance Minister Pranab Mukherjee, in the General Budget 2012-13 presented in Lok Sabha, has proposed to exempt capital gains tax on sale of a residential property, if the sale consideration is used for subscription in equity of a manufacturing SME company for purchase of new plant and machinery.
Union Finance Minister Pranab Mukherjee on Friday expressed firm commitment to enact the Direct Taxes Code (DTC) Bill at the earliest, after expeditious examination of the report of the Parliamentary Standing Committee.
Finance Minister Pranab mukherjee presents his 7th Budget.
Expectations are always high from the Budget, but this year the expectations are even higher due to an increase in inflation as well as a widening fiscal deficit.
Moulya Software's founder Pradeep Soundararajan in an open letter to finance minister Pranab Mukherjee pleads for a budget that would encourage start-ups to become tomorrow's Infosys, Tata and Reliance.
Diesel price needs to be revised upward, or subjected to higher taxes, as misuse of subsidized diesel was adding to pollution and public health costs, the government's pre-budget economic report card said on Thursday.
Diesel price needs to be revised upward, or subjected to higher taxes, as misuse of subsidized diesel was adding to pollution and public health costs, the government's pre-budget economic report card said on Thursday.
Diesel price needs to be revised upward, or subjected to higher taxes, as misuse of subsidized diesel was adding to pollution and public health costs, the government's pre-budget economic report card said on Thursday.
Diesel price needs to be revised upward, or subjected to higher taxes, as misuse of subsidized diesel was adding to pollution and public health costs, the government's pre-budget economic report card said on Thursday.
The rupee had depreciated sharply during the last six months of 2011. It had reached a peak of Rs 43.94 to the dollar on July 27, 2011, and hit a low of Rs 54.23 on December 15, 2011.
Besides, Federation of Indian Chambers of Commerce and Industry secretary general Amit Mitra, L Suresh, vice president of Film Federation of India, UTV Group chief financial officer Rajeev Waghle, chief financial officer of Reliance Big Films Subhashish Sarkar and Zee Tele films chief executive officer Puneet Goenka, among others, were also part of the delegation.
The Congress core group met at the prime minister's residence late on Wednesday night and weighed options to deal with the demand made by Trinamool Congress chief Mamata Banerjee to sack Railway Minister Dinesh Trivedi.
"Our traditional stand has been that we have never supported any country-specific resolution at the UNHCHR," Finance Minister Pranab Mukherjee told the Lok Sabha as DMK, AIADMK and CPI members rushed to the Well raising slogans on the issue.
Finance Minister Pranab Mukherjee on Monday said adverse global economic developments, including the fallout of downgrade of the United States sovereign rating, present new opportunities to India and the country could become a source of stability for the world economy.
Anna Hazare will break his fast at 10 am on Sunday, according to his close associate Kiran Bedi.
As Anna Hazare's fast entered the 12th day, Pranab Mukherjee said the situation was "moving out of hand" and "a crisis" had been created even as he asked lawmakers to "seize the moment and demonstrate the commitment" in dealing with corruption which is "gnawing at the vitals of our polity".
A group of Anna Hazare supporters on Friday protested outside the residence of Congress General Secretary Rahul Gandhi, shouting slogans in favour of the Gandhian and his demand for a strong Lokpal.
The ministry wanted to use spectrum in the 700-MHz band for mobile TV services.
Concerned over huge revenues in form of customs, services and excise duties locked up in litigations, Finance Minister Pranab Mukherjee has constituted a committee to suggest steps to bring down such cases.
Grappling with the situation arising out of Anna Hazare's fast, the government on Tuesday held hectic consultations to find a way out of the logjam with Team Anna demanding that it mandate somebody officially for opening a political dialogue on the Lokpal issue.
Finance Minister Pranab Mukherjee on Friday asserted that India's economy is 'robust' and its growth story is intact, amid fears of another global economic turmoil that sent the world stocks into a tailspin.
Finance Minister Pranab Mukherjee and other finance ministry officials have reached the last leg of pre-Budget consultations.
Accusing the Opposition of not allowing the government to put forth its views in Parliament on Anna Hazare's detention, two senior ministers on Tuesday said such an attitude was "not fair" in a parliamentary system. Leader of the Lok Sabha and Finance Minister Pranab Mukherjee and Parliamentary Affairs Minister Pawan Kumar Bansal said the Opposition created a pandemonium in Parliament forcing its adjournment.
Nandan Nilekani-led task force on an Aadhaar-enabled unified payment infrastructure has recommended setting up a network of one million interoperable micro-ATMs across the country.
The Finance Ministry on Friday said that no bugging device was found within its premises, including the office of Finance Minister Pranab Mukherjee, and the suspicious adhesive discovered was chewing gum-like material.
The government on Friday said that India is the fifth most indebted country among the 20 developing nations but its debt is within manageable limits.
He, however, acknowledged the need for further efforts from the revenue department.
According to the finance minister, India was compliant with most of the internationally accepted standards in banking, securities markets and insurance sector.
Pranab Mukherjee says India's economic fundamentals are strong.
In the wake of Citibank fraud and other scams, Finance Minister Pranab Mukherjee on Tuesday cautioned against 'window dressing' by accounting firms and called for stricter disclosure guidelines.
With passenger cars consuming about 15 per cent of the diesel, the government on Thursday indicated that it might do away with the subsidy enjoyed by such vehicle owners.
Industry is of the view that rising interest rates is increasing the input cost as loans are getting costlier.
As per their law and Constitution, their international agreements are to be ratified by both houses of Parliament and local authorities.
Perturbed by high inflation despite the Reserve Bank of India's monetary tightening initiatives, India on Monday asked Britain for lessons to rein in price rise.
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