Tax payers can expect some relief from high inflation in Budget 2011-12 as the government may raise the income tax exemption limit for individuals.
Financial services company Morgan Stanley's Asia chief Stephen Roach is more bullish on Indian economy than China.
Telecom operators on Friday said that only increased awareness among people about the "Do Not Call" registry can check the menace of unsolicited calls and SMSes on mobile phones.
Decks were cleared for inclusion of caste in the Census with a Group of Ministers on Wednesday approving the exercise to be undertaken from biometric stage, capping months of uncertainty over the issue that had divided many parties.
Many MPs have complained that unsolicited calls have become a regular feature on their phones and sought a ban on these telemarketing calls.
MTN is a kind of bond note with a maturity period usually between 5 to 10 years continually offered through various brokers, rather than issued all at once like other bonds.
The just-concluded Indo-US end-user monitoring defence agreement on Tuesday created heat in the Lok Sabha with Opposition parties demanding an immediate statement on the pact, which they charged compromised the country's security and sovereignty.
The median forecast for wholesale price index-based inflation in the first quarter of 2010/11 is at 10.4 per cent, according to Reserve Bank of India's survey, higher than 9.5 per cent in the previous survey.
Visiting Namibian Foreign Minister Marco Hausiku conveyed his country's "strong support" to India's candidature for permanent membership of the Security Council during talks with External Affairs Minister Pranab Mukherjee.
The delegation, comprising leader of Opposition in Lok Sabha Sushma Swaraj, her counterpart in Rajya Sabha Arun Jaitley and others, said Mukherjee had assured them that DTC was only at the drafting stage and discussions were still on.
Distinguished lawyer Anil Divan who is arguing the case related to black money stashed overseas discusses the legal details of the case and is optimistic that the illicit wealth can be brought back to India.
Responding to the price rise debate in Lok Sabha, Mukherjee said that it should be tackled by leaders across all the political parties.
The spending will erode the surplus generated through the sale of spectrum and could put pressure on fiscal deficit management.
Sources said the belief was that by that time,Trinamool Congress chief Mamata could well be out of the cabinet as there is every likelihood that she could be the next chief minister of West Bengal. Along with this, the the fate of the Dravida Munnetra Kazhagam would also be clear, depending on whether they win the Tamil Nadu Assembly elections. The Congress may rejig its relationship with the DMK depending on the post-poll scenario in Tamil Nadu.
The budget session of Parliament will begin on February 21 and the general budget is slated to be presented to Lok Sabha on February 28.The decision to recommend the date for convening of the session to the President was taken at a meeting of the Cabinet Committee on Parliamentary Affairs chaired by Finance Minister Pranab Mukherjee, who is also Leader of the House in Lok Sabha.
The Indian Budget 2009-10 presented by Finance Minister Pranab Mukherjee earlier this week, has disappointed many Indian American investors as it does not focus adequately on some of the key issues, including disinvestment and infrastructure development, IACC said on Friday.
A week ahead of the RBI reviewing the monetary policy with expectations of a policy rate hike, Commerce and Industry Minister Anand Sharma has cautioned that raising cost of borrowing "may not be suitable" tool to rein in inflation.
Mitra will take over from P V Bhide after January 31.
Finance Minister Pranab Mukherjee has rejected a proposal by Communications Minister A Raja for refund of the Rs 29,598 crore paid by state-owned Bharat Sanchar Nigam Limited and Mahanagar Telephone Nigam Limited for third generation (3G) and broadband wireless access (BWA) spectrum.
The government on Monday announced increasing people's holding in public sector undertakings through the divestment programme, but said it would retain at least 51 per cent equity in these enterprises and would keep the banks and insurance companies under its control.
Necessary funds are proposed to be allocated for the eight national missions that are being launched following the National Action Plan on Climate Change (NAPCC) unveiled last year.
Finance Minister Pranab Mukherjee while presenting the budget 2009-10 in Lok Sabha on Monday said that the details about this expert group will be announced by the minister of petroleum and natural gas.
Prime Minister Manmohan Singh hailed Finance Minister Pranab Mukherjee's Budget for 2009-10 presented in Parliament on Monday, saying that the finance minister 'has done an admirable job'.
This is the tenth hike in the price of petrol in just over a year. With this hike, inflation is likely to rise sharply once again.
The empowered group of ministers headed by Finance Minister Pranab Mukherjee is being convened soon to discuss a combination of a price hike and a reduction in government duties.
The issue of equity infusion in Air India will be taken up by the Cabinet shortly and a cabinet note will be prepared in two weeks.
Finance Minister Pranab Mukherjee on Thursday tabled the Economic Survey for 2008-09 that prescribes doing away with cess, surcharges on taxes, including fringe benefit tax, and sweeping refroms in areas like petrol pricing and financial sector.
Inflation is expected to be higher in December than 7.48 per cent in November, since food inflation has surged up to 18.32 per cent during the week ended December 25.
The government said on Friday that the controversial Women's Reservation Bill would be brought for consideration in the Lok Sabha in the Monsoon Session of Parliament -- a move apparently aimed at dividing opposition unity.
Finance Minister Pranab Mukherjee on Thursday said the government would introduce the Direct Taxes Code (DTC) Bill that will simplify direct tax laws, in the monsoon session of Parliament beginning July 26.
Besides Mukherjee, who is leader of the Lok Sabha, the committee, headed by Speaker Meira Kumar, will have four other members from the Congress, three from Bharatiya Janata Party each from Samajwadi Party, Bahujan Samaj Party, Janata Dal (United), Trinamool Congress, Dravida Munnetra Kazhagam and Communist Party of India-Marxist.
Finance Minister Pranab Mukherjee said the statutory joint committee, proposed to be set up to resolve disputes between financial regulators, would come into play only when there was a conflict between two regulators in an area of hybrid products.
An all party meeting to seek views across the political spectrum on the issue of inclusion of the prime minister under the Lokpal Bill is likely to be held in the first week of next month.
Petroleum secretary RS Pandey said the ministry explained the revenue losses that state run companies were incurring on sale of petrol, diesel, domestic LPG and kerosene.
The developers, including Raheja Ltd, Ascendas, L&T and GMR, among others, are in the Ministry of Commerce and Industry's Export Promotion Council for export oriented units and special economic zones.
The weekly inflation figure is the highest during the past one year. Soaring onion and other vegetables' prices led to the sharp rise in inflation at 18.32 per cent for the week that ended on Christmas, up from 14.44 per cent recorded in the previous week.
Finance Minister Pranab Mukherjee will hold a pre-Budget discussion with state governments on January 13.
Finance Minister Pranab Mukherjee said the government is examining the decision of the Income Tax tribunal in the Bofors case and will decide the future course of action later.
The rupee will soon join the elite currencies like the US dollar, the euro, British pound and Japanese yen in having a distinct identity.
However, finance minister Pranab Mukerjee did not commit himself to this proposal of floating infrastructure bonds, as this requires detailed examination and Parliamentary nod.
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