Critics call fiscal deficit projections ambitious; government to meet Opposition, chief ministers to discuss issues after Budget session
Lagarde said that she had elaborate discussions on the general economic situation.
Pranab Mukherjee said the government proposes to move various legislative Bills related to financial sector reforms.
Presenting the Union Budget for the year 2012-13, the Finance Minister informed the Lower House of Parliament that the enrolments into the other system have already crossed 20 crore (200 million) and the Aadhaar numbers generated upto date has crossed 14 crore (140 million).
The Individual tax payer exemption limit to be raised to Rs 200,000 from Rs 180,000.
Railway Minister Dinesh Trivedi has not resigned, Finance Minister Pranab Mukherjee told the Lok Sabha on Thursday
Vikas Khemani, President & Head-Institutional Equities, Edelweiss Securities, feels Finance Minister Pranab Mukherjee could really make Union Budget 2012-13 an important one.
The funding will help developmental works in Nepal.
The government on Monday said that it had not violated any election code of conduct in connection with its ambitious direct cash transfer scheme as it was announced in the budget speech by the then Finance Minister Pranab Mukherjee.
The main Opposition party suggested that Prime Minister Manmohan Singh and former Finance Minister Pranab Mukherjee were not on the same page with regard to the retrospective amendment to tax laws against the backdrop of Vodafone case, leading to the current precarious situation.
Anirban Ganguly recounts moments from the past when Pranab Mukherjee had to face uncomfortable questions from opposition MPs.
Focusing on rural India and attaining a high GDP, Finance Minister Pranab Mukherjee outlined targets such as speeding up infrastructure development and spending more for the development of rural areas and the poor.
In April, S&P had lowered India's rating outlook to negative from stable
While two Team Anna members targetted United Progressive Alliance Presidential nominee Pranab Mukherjee and demanding a probe into allegations against him, anti-graft crusader Anna Hazare on Monday appeared to endorse his candidature for the top post terming him as "better than other UPA ministers".
Ending months of speculation, the ruling coalition met on Friday evening at the residence of Prime Minister Manmohan Singh where its Chairperson Sonia Gandhi put forward the name of the 77-year-old veteran Congressman from West Bengal as its candidate, which was unanimously approved by the leaders of the constituent parties
Ending days of suspense, Congress President Sonia Gandhi on Wednesday made it clear that Finance Minister Pranab Mukherjee was her first choice for Presidentship and Vice President Hamid Ansari was also in the reckoning.
West Bengal Chief Minister Mamata Banerjee arrived in Delhi on Tuesday night for consultations with United Progressive Alliance chairperson Sonia Gandhi on Wednesday on the issue of the Presidential poll nominee of the UPA, amid intense speculation on Finance Minister Pranab Mukherjee's candidature for the post.
Pranab Mukherjee will begin the fortnight-long pre-budget brainstorming sessions with various stakeholders.
Among those who submitted their respective ministry's suggestions was Minister of Urban Development S Jaipal Reddy who called on the finance minister in New Delhi on Tuesday.
In a major development in the Congress, the party has formed an informal committee comprising General Secretary Rahul Gandhi, spokesperson Janardan Dwivedi, political secretary to Sonia Gandhi Ahmed Patel and Defence Minister AK Antony to look into the party's affairs, as the Congress president will be away since she is undergoing treatment in the United States.
Attorney General G E Vahanvati on Wednesday told a Delhi court that former Telecom Minister A Raja's letter to the prime minister regarding the DoT's policy to be adopted for 2G spectrum allocation was not based on discussion with him and the then External Affairs Minister Pranab Mukherjee.
Ministries seek more discussions, Cabinet defers decision.
India has had 28 finance ministers since independence.
Association points out that over 40 clearances from various agencies are required for real estate projects.
In a strongly-worded letter to Bharatiya Janata Party President Nitin Gadkari, eminent lawyer and MP Ram Jethmalani has alleged party leaders are "silent against the huge corruption" in United Progressive Alliance-II government and are instead engaged in infighting.
Intensifying its attack on BJP chief Nitin Gadkari, the Congress on Friday demanded a thorough probe into his "interest" in the Maharashtra irrigation project for which he had sought early release of funds. Stating that Gadkari had written a letter even to the then Finance Minister Pranab Mukherjee for release of money for the controversial Gosikhurd project, the ruling party warned the BJP that it will "dig its own grave" if he continued at its helm
With the Biju Janata Dal and the All India Anna Dravida Munnetra Kazhagam indicating their preference for P A Sangma as presidential candidate, the Nationalist Congress Party leader on Thursday thanked them saying they have been responsive to the aspirations of tribals and appealed to other parties to support a candidate from the community.
Amid rupee's free fall and slowdown in western markets, the government is likely to announce incentives in the foreign trade policy (FTP), scheduled for June 5, to boost exports.
However, so far only 16 states have amended their Acts based on the model provided by the centre.
The issue of controversial cartoons in textbooks generated heat in the Lok Sabha with members demanding immediate action in the matter saying the sketch has hurt sentiments of a section of the society.
Rejecting opposition demands, government on Wednesday refused to make public information received from foreign countries with regard to Indian account holders but expressed readiness to issue an elaborate document on the problem.
Buckling under pressure from various quarters, the government on Monday withdrew the harsh provisions relating to excise and customs duty evasion cases. In Finance Bill 2012-13, it had earlier proposed to make certain excise and customs duty evasion cases non-bailable until the court had heard the public prosecutor.
Set to begin next week, the first of its kind uniform discount offer from all jewellers across the country, would be valid for 10 days nationwide.
Backing for Finance Minister Pranab Mukherjee got further boost with United Progressive Alliance constituent Dravida Munnetra Kazhagam endorsing his name for the post of President over which the Congress hopes to build a consensus across the political spectrum.
Finance Minister Pranab Mukherjee on Saturday arrived in Dhaka on a two-day tour to join the 150th birth anniversary celebrations of poet Rabindranath Tagore.
Finance Minister Pranab Mukherjee said on Wednesday fundamentals of the Indian economy are strong despite concerns of inflation and growth, and the overall environment will improve significantly if Parliament functions and approves important legislations.
To modernise the tax system, the government has proposed to replace the Income Tax Act, 1961, with a new legislation.
With the rupee fast losing value against the US dollar, Finance Minister Pranab Mukherjee on Friday blamed volatility in global commodity prices for currency depreciation and said deteriorating balance of payment (BoP) situation in several Asian countries also put stress on currencies.
The speed at which political statements of doubtful veracity acquire the aura of gospel truth is astonishing. One such "truth" is: coalition compulsions impede economic reforms. Even Chief Economic Advisor Kaushik Basu believes in it. He recently said, "Thanks to coalitional democracy, there is some slowdown in economic reforms and decision-making."
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