Sinha, a former Finance Minister, said the hike put a 'big burden' on the people as it is 'steep'.
The Standing Committee on Finance, which met under the chairmanship of senior BJP leader Yashwant Sinha, has decided to finalise its report by March 2, enabling Parliament to consider the ambitious reforms in direct tax regime.
Tax experts said many would use this to bring black money and cash stashed in tax havens into the country.
During a meeting with a visiting Indian parliamentary delegation on Wednesday evening, the lawmakers, including former ministers Mani Shankar Aiyar and Yashwant Sinha, noted that Prime Minister Manmohan Singh had "rightly said that Yusuf Raza Gilani was a man of peace".
Yashwant Sinha is currently on a three-day visit to Washington to hold meetings with the think-tank, members of the Indian Diaspora, Congressmen and officials of the Obama Administration.
With the Constitution Amendment Bill on Lokpal failing in Lok Sabha, Bharatiya Janata Party on Tuesday night demanded resignation of the UPA government on moral grounds.
Finance Minister Pranab Mukherjee on Monday held a meeting with senior BJP leaders L K Advani, Sushma Swaraj and Yashwant Sinha to discuss these two legislations.
After staging a walkout from the meeting of the Joint Parliamentary Committee examining the 2G spectrum scam, the BJP on Tuesday accused its Chairman P C Chacko of being 'biased' and threatened to quit the panel.
BJP has demanded the Central government to act decisively to end the deadlock in the state. Onkar Singh reports.
Declaring that the United Progressive Alliance government had lost the moral authority to continue, senior Bharatiya Janata Party leader Yashwant Singh said the only way the opposition could compel the government to quit was for the National Democratic Alliance MPs to resign en masse.
A Parliamentary committee scrutinising the Direct Taxes Code (DTC) Bill will recommend raising of the annual income tax exemption limit to Rs 3 lakh.
Amid talks that Narendra Modi could be the Bharatiya Janata Party's prime ministerial candidate in 2014, senior BJP leader Yashwant Sinha feels the party should project anybody for the top post only after considering whether it would benefit the poll prospects
The talk of an anti-BJP front got revived after leaders of various parties and prominent individuals congregated at Nationalist Congress Party chief Sharad Pawar's New Delhi residence last month.
Suggests far more generous provisions than proposed in Direct Taxes Code
Suggests far more generous provisions than proposed in Direct Taxes Code
When it comes to running between the wickets -- which is exactly what an FM and a governor do -- Jadeja always defers to Dhoni's larger judgement of the situation and the needs of the team, observes T C A Srinivasa-Raghavan.
Last year, Sitharaman had ditched the long-standing tradition of carrying budget documents in a leather briefcase and went swadeshi with a 'bahi-khata'.
Telecom Minister Kapil Sibal brought the government into another stand-off with the Bhartiya Janata Party, accusing it of stalling Parliament in the winter session to prevent the cover up the National Democratic Alliance regime's lapses.
Finance Ministers play a key role in shaping the economy of a country.
A cartoon depicting B R Ambedkar purportedly published in a NCERT textbook and row over Home Minister P Chidambaram's statement in the Aircel-Maxis deal today led to disruption of the Lok Sabha.
Hours after his angry outburst led to an hour-long adjournment of Lok Sabha, Finance Minister Pranab Mukherjee on Thursday expressed his "regret" for losing temper, saying it was not appropriate.
A purported video clip where Bengal Chief Minister Mamata Banerjee is seen sitting on a wheelchair and moving her plastered leg back and forth has gone viral on social media, giving her rivals an opportunity to claim that she was playing up her injuries to win sympathy.
The Trinamool Congress on Friday complained to the Election Commission of partisan behaviour by central police forces in favour of its rival Bharatiya Janata Party, while the saffron party made a counter-complaint that Chief Minister Mamata Benerjee had violated the model code of conduct by being inside a polling booth in Nandigram for two hours on polling day.
Bankers' committee suggests banks lend to meritorious students without collateral.
Having failed its litmus test, the Bengal's ruling party is back to square one, trying to draw up a fresh strategy ahead of the polls in Meghalaya and Tripura.
Sinha said the youth, farmers and the traders were dissatisfied with present policies of the saffron party.
Several Indian companies might have to set aside 2 per cent of their average net profits during the preceding three years to meet corporate social responsibility (CSR) spending requirements. A parliamentary standing committee on finance, which vetted the Companies Bill, 2009, said in its report that the ministry of corporate affairs has agreed to the suggestion.
Former finance minister Yashwant Sinha of the Bhartiya Janata Party (BJP) on Wednesday asked the government to supply 25 million tonnes of food grains to the markets from 65.5 million tonnes stored in its coffers.
Submitting a dissent note against the JPC report on 2G spectrum, Bharatiya Janata Party on Thursday said it was flawed and a bundle of contradictions drafted by people in the government on the directions of the Prime Minister and the Finance Minister as a "cover up" exercise.
Board of Control for Cricket in India vice-president Rajiv Shukla says there is "nothing wrong" with the Parliamentary Standing Committee on Finance, headed by Yashwant Sinha, summoning its president, Shashank Manohar, and Indian Premier League chairman Chirayu Amin to reply to questions on financial transactions related to the Twenty20 league.
Yashwant Sinha on Elections 2009 and Narendra Modi's rise in the BJP.
'Igniting in this country, a false feeding of nationalism combined with religion.' 'They are promoting the religion of the majority people in the country to feed their political agenda.'
'You don't win elections on the basis of borrowed players.' 'There is a great crisis of leadership for the BJP in Bengal'
In its December 14 order, the Supreme Court had dismissed petitions seeking a probe by a Special Investigation Team into the Rafale deal signed two years back, alleging irregularities and corruption in the pact.
'We are not rebelling against our party.' 'We are not fence-crossers.'
Droupadi Murmu scripted history on Thursday by becoming India's first tribal President in the one-sided contest, defeating Opposition candidate Yashwant Sinha.
The Enforcement Directorate on Thursday questioned Congress chief Sonia Gandhi in a money laundering case related to the National Herald newspaper and summoned her for a second round of questioning in the case on July 25.
Home Minister P Chidambaram on Wednesday rejected the demand of Railway Minister Mamata Banerjee for an inquiry into the killing of Maoist leader Cherukuri Rajkumar alias Azad. "Please tell me under which law the Centre should initiate an inquiry into the encounter killing of Maoist leader Azad, I am asking my non-lawyer friend (Bharatiya Janata Party leader) Yashwant Sinha," Chidambaram said while replying to a discussion in the Lok Sabha.
BJP deputy leader in the Lok Sabha Gopinath Munde has been appointed Chairman of Parliament's Public Accounts Committee (PAC), a post vacated by expelled BJP leader Jaswant Singh.
The court's remarks came when the petitioner said they were seeking a court-monitored CBI probe into the deal.
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