India, which imports 12 per cent of its oil from Iran, will not scale down its petroleum imports from Tehran despite US and European sanctions against the Islamic republic, Finance Minister Pranab Mukherjee has said.
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.
A day after Union Finance Minister Pranab Mukherjee trashed Team Anna's allegations of corruption against him, its key member Arvind Kejriwal said he should face an independent probe to prove his innocence.
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.
Finance Minister Pranab Mukherjee's security is being beefed up after the ruling party announced his name as their candidate for the Presidential polls. There will now be a heavy security at his house and the traffic flow will not be restricted for one month.
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.
These suggestions were made by Finance Minister Pranab Mukherjee in his address at a meeting with chief executives of the public sector banks, which among others, was also attended by RBI Deputy Governor K C Chakrabarty.
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.
Central goal of the Budget must be to restore confidence in the prospects for rapid growth in India.
Union Finance Minister Pranab Mukherjee on Sunday said treaties had been signed with a total 37 countries to know the details of money stashed abroad by Indians.
Bharatiya Janata Party leader Arun Jaitley feels ministers in the Manmohan Singh government are either "arrogant or sulking" and that it was tough to have a dialogue with them.
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.
Meeting on Tuesday to decide on letting foreign airlines buy into domestic ones.
He said assessees' "comfort zones" have to be significantly enhanced, even as deliberate evaders and offenders are punished.
The auction of 2G spectrum might be delayed, as the government may file a petition in the Supreme Court for an extension of the timeline. According to current SC directive, the auction has to be conducted by August 31 this year. However, due to procedural delays, the department of telecommunications is looking at extending the timeline.
The EGoM decided to auction a minimum of eight blocks in all service areas after reserving spectrum for refarming against the allocation of 900 MHz for incumbent operators whose licences will expire during 2014-2016.
While some have praised the Budget, others have expressed their displeasure.
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.
"Food inflation is still negative... There is a declining trend... If this trend continues, then the overall inflation will be manageable, says Mukherjee.
The controversial note, made by the finance ministry and sent to the Prime Minister's office on March 25, 2011, involved two Cabinet ministers -- finance minister Pranab Mukherjee and home minister P Chidambaram, who was the finance minister at the time of the 2G scam in 2007-08.
Prime Minister Manmohan Singh said his government expected a reasonably good growth rate of seven per cent in the ongoing 2011-12 financial year.
Pranab Mukherjee says India's economic fundamentals are strong.
As India's investment rate is estimated to decline this financial year, industry chamber CII has asked Finance Minister Pranab Mukherjee to give a boost to investments in the forthcoming Budget, but economists believe a rollback of stimulus may continue.
Sector to see funding push; tax reforms as well as sops to wait longer.
The tsunami of recession that originated in the Wall Street and spread to Europe did not affect India because our banks are conservative, said Overseas Indian Affairs Minister Vayalar Ravi while addressing a seminar at the 10th Pravasi Bharatiya Diwas in Jaipur on Sunday.
The government has replied to Vodafone's notice that threatened international arbitration, saying there was no cause of action. It may send a reply and a tax notice to the company after the Finance Act is notified in the official gazette.
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.
Meanwhile, Uttarakhand, Kerala and Delhi have already announced cut in value added tax on petrol.
This is the first time in almost six years, for which data with base year 2004-05 is available, that food inflation has shown a decline on an annual basis.
High food prices have pushed 44 million people into poverty since June.
Industry is of the view that rising interest rates is increasing the input cost as loans are getting costlier.
Commerce and Industry Minister Anand Sharma on wednesday said the Reserve Bank of India would have to step in to stem the downslide of rupee.
The Indian rupee slid to a fresh low of Rs 55.32 against the US dollar in the afternoon trade on Tuesday as foreign funds pulled out from emerging markets avoiding risky assets.
The 97-page document tabled by Finance Minister Pranab Mukherjee made a strong case for setting up Lokpal and Lokayuktas. Though, there was no was mention of government's estimate of black money within and outside the country, it pitched for courts to expeditiously deal with the offence.
Mukherjee, along with Parliamentary Affairs Minister PK Bansal and Human Resources Development Minister Kapil Sibal, held meetings with BSP leader Satish C Mishra and RJD chief Lalu Prasad as the debate was underway in the Rajya Sabha in effort to woo them
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.
On the eve of consideration of Lokpal Bill by the Rajya Sabha, Trinamool Congress on Wednesday mounted difficulties on the government by giving notice for amendment to the crucial legislation in which it wants references to formation of Lokayuktas to be dropped.
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