New Delhi: With the Lok Sabha passing the Finance Bill and Demands for Grants for various ministries, Government on Tuesday said it will continue with its efforts for passage of other bills on food security and land acquisition, which are "equally important". "I don't think it is correct to say that with the passage of Finance Bill, the government's concerns are over or its interest is over. All other bills in my view are equally important and I think an effort must be made to pass them," Finance Minister P Chidambaram told reporters outside Parliament.
Chidambaram's remarks come amid clear indications from the party that it was keen that the proposed laws on food security and land acquisition are passed in this session. To a question on whether he is hopeful that these bills will be passed in the Budget session itself, the Finance Minister merely said, "We are ready to debate and pass the bills."
He was talking to reporters soon after the Lok Sabha passed the Finance Bill and Demands for Grants for various ministries without debate after Opposition walkout. There is speculation that the Houses could be adjourned sine die if the government fails to reach an agreement with Opposition, which is disrupting Parliament functioning on coal scam issue and demanding the resignation of Prime Minister Manmohan Singh and Law Minister Ashwani Kumar.
The Finance Minister refused to answer whether the Law Minister will continue. In a big embarrassment to the government in the
03:42 PM, Apr 30, 2013
New Delhi: Despite the political deadlock over the coal scam, the key Finance Bill is likely to be passed in Lok Sabha on Tuesday. A temporary truce has been achieved between the government and the opposition to pass the money bills. The crucial Finance Bill can't be delayed beyond Tuesday as per the rules. Government has to pass all money bills within 75 days of the Budget speech. After being...
07:19 AM, Apr 30, 2013
New Delhi: A Parliament deadlocked yet again over corruption scandals threatens Finance Minister P Chidambaram's ambitious reform agenda, dealing a harsh dose of political reality on the heels of his North American roadshow to sell the India story. Two long-stalled reforms - one to lift the foreign ownership cap in insurers to 49 per cent from 26 per cent and another that would simplify land acquisition for factories - were...
08:38 AM, Apr 29, 2013
New Delhi: Committing to carry forward the economic reforms programme in the remaining term of UPA-II, Finance Minister P Chidambaram on Wednesday said the government will take more executive actions in the next two to four months and sought cooperation of the main opposition party to push through important bills in Parliament. Ruling out early elections, the Minister said the government would last for 13 months more and would continue...
12:15 PM, Apr 24, 2013
Undeterred by adverse political developments, Finance Minister P Chidambaram on Wednesday said there will be no let up in the government's efforts to continue with the economic reforms and he will go ahead with his meetings with foreign investors to persuade them to invest in India. ...
02:50 PM, Mar 20, 2013
Describing the current economic atmosphere in India as "deeply troubling", top American lawmakers and experts on Wednesday said the country needs to take urgent steps towards the next phase of reforms to boost economic growth. ...
01:48 AM, Mar 14, 2013
The UPA government managed to win the FDI in retail battle in both the Houses of Parliament. ...
10:59 PM, Dec 07, 2012
Having won the vote on FDI in retail in Parliament, the UPA sees it as a referendum on its reform zeal. ...
10:50 PM, Dec 07, 2012
New Delhi: Buoyed by the victory on the foreign direct investment (FDI) issue in Parliament, the government on Friday said it would bring more bills in coming weeks for ushering in economic reforms. "Certainly, we are going to bring in more legislation in coming weeks in Parliament (financial bills) and we will be engaging all political parties on it," Parliamentary Affairs Minister Kamal Nath told reporters. The Minister was asked...
05:29 PM, Dec 07, 2012
Mumbai: Amid logjam in Parliament, Finance Minister P Chidambaram on Saturday sought support of the Opposition in pushing through economic reforms, saying economy is not a football that can be kicked around by political parties. "Economic welfare of the country is bipartisan and must be kept above politics.. economics is too important and economic future welfare of this country is too important to become a football to be kicked around...
08:39 PM, Nov 24, 2012
Hyderabad: BJP on Sunday demanded that the UPA government should seek approval of Parliament for reforms like allowing FDI in pension and insurance sectors. Senior BJP leader M Venkaiah Naidu termed the FDI in retail, pension and insurance sectors as anti-poor and anti-farmers and asked the Congress-led UPA government not to take any "unilateral" decisions on major issues that could affect the country in general, and common man in particular....
02:39 AM, Oct 15, 2012
Tokyo: The Reserve Bank and the government must work in tandem to bring down interest rates, Finance Minister P Chidambaram said, while emphasising that high rates hurt everyone. "Fiscal policy and monetary policy should work in tandem to stabilise the exchange rate as well to bring down interest rates," he said in an interview. Chidambaram is in Tokyo to participate in the IMF-World Bank meetings. High interest rates "hurts everyone",...
01:51 AM, Oct 14, 2012
Tokyo: Finance Minister Palaniappan Chidambaram called on Saturday for the Reserve Bank of India (RBI) to take "calibrated risks" to support the struggling economy as a reciprocal measure to government fiscal efforts. In an interview with Reuters, Chidambaram said the government was committed to "fiscal correction", a nod to rating agencies that have threatened to make India the only BRIC nation with a junk credit status, even accounting for recent...
12:54 AM, Oct 14, 2012
Dehradun: The move of inviting FDI in retail sector is designed to serve the interest of global supermarkets, yoga guru Ramdev on Friday alleged and appealed people to dislodge the UPA government in the upcoming General elections. "The move is designed to serve the interest of global supermarkets. If people want a government which works for their interest and not for that of the US, they will have to overthrow...
02:38 AM, Oct 13, 2012
Chennai: DMK President M Karunanidhi on Friday urged the union government not to take hasty decisions in the name of economic reforms. He was referring to setting up the National Investment Board (NIB) to fast-track projects with an investment of Rs 1,000 crore and above. In a statement, Karunanidhi cited media reports faulting the NIB proposal and the difference of opinion between Environment Minister Jayanthi Natarajan and Tribal Affairs Minister...
01:57 AM, Oct 13, 2012
Mumbai: Ratings agency Standard & Poor's warned that India still faced a one-in-three chance of a credit rating downgrade within the next 24 months despite a new drive for economic reform that was launched in September. "A downgrade is likely if the country's economic growth prospects dim, its external position deteriorates, its political climate worsens, or fiscal reforms slow," it said in a report dated Tuesday and released on Wednesday....
02:28 PM, Oct 10, 2012
New Delhi: India's recent reform measures are "very significant" and will fuel private investment in the economy, US Treasury Secretary Timothy Geithner said during a visit to New Delhi on Tuesday. India has announced a series of measures, including raising the price of subsidised fuel and opening the retail sector to foreign supermarkets, to revive economic growth, which has slowed to a near three-year low. "The reforms outlined by the...
02:31 PM, Oct 09, 2012
Kolkata: The Trinamool Congress has attacked the government over introducing foreign direct investment (FDI) in pension and increasing the FDI cap in insurance. The party led by West Bengal Chief Minister Mamata Banerjee has reiterated that it will oppose the move by the government in Parliament. Speaking to mediapersons, Trinamool Congress MP Saugata Roy said that the party would launch agitation against the government throughout the country. "We will launch...
05:14 PM, Oct 04, 2012
New Delhi: The Trinamool Congress rally on Monday was against the government's recent economic reforms and was aimed at giving voice to the 'aam aadmi', the party said as the government clarified that the decisions it had taken were necessary for growth. "It is not a dharna, it is a protest rally. All our MPs will protest, but I have not brought anyone from Bengal," Mamata Banerjee, Trinamool supremo and...
02:42 AM, Oct 02, 2012
Beijing: India's decision to allow 51 per cent FDI in multi-brand retail has improved the market sentiment and helped the rupee to rebound, RBI Deputy Governor Anand Sinha said on Sunday. "On the positive side, it (FDI in retail) improved sentiment as was shown in the market. Rupee has rebounded to a considerable extent. There is certainly promise," he said. Sinha said said the success of FDI in retail depends...
03:52 AM, Oct 01, 2012
