Finance Minister

  • Jan Dhan Yojana will not a burden on banks, says Arun Jaitley 3 days ago

    New Delhi: Finance Minister Arun Jaitley on Saturday said the implementation of Pradhan Mantri Jan Dhan Yojana (PMJDY), under which 2.14 crore accounts have already been opened, will not put any burden on banks. "Any apprehension that this scheme may cause financial burden on the banks does not hold any ground...
  • Insurance Bill in Winter session of Parliament: Arun Jaitley 3 days ago

    New Delhi: Optimistic of passing the Insurance Bill in the next session of Parliament, Finance Minister Arun Jaitley on Friday hoped Congress which mooted the hike in FDI cap to 49 per cent in the sector will not oppose it. "I am reasonably confident. Any political party which have mooted the...
  • Arun Jaitley lauds West Bengal government for its approach on GST August 23, 2014

    Kolkata: Union Finance Minister Arun Jaitley on Friday lauded the West Bengal government for accepting the Goods and Services Tax (GST) in principle and said the state's approach on the issue was very good. "There are several issues in which the Centre and the state government require discussion. To me, GST...
  • RBI notifies increased PPF deposit limit of Rs 1.5 lakh/year August 22, 2014

    Mumbai: The Reserve Bank on Friday notified the increase in deposit money under Public Provident Fund (PPF) to Rs 1.5 lakh from Rs 1 lakh earlier. "We forward herewith a copy of the Government of India Notification...The Government of India, vide this Notification, has enhanced the individual subscription limit under the...
  • Arun Jaitley advocates for low tax regime in tourism sector August 21, 2014

    New Delhi: Advocating for low taxation regime, Finance Minister Arun Jaitley on Thursday said if higher taxes are levied on the tourism industry, then there will be less tourists and lesser revenue collection. "If tourism industry, state governments and the centre are loaded with higher taxes then we will have less...
  • Low growth, high inflation not acceptable: Arun Jaitley August 16, 2014

    Mumbai: Finance Minister Arun Jaitley on Saturday said the current situation of high inflation and low growth has to be reversed to achieve sustainable GDP expansion along with improvement in price situation. "If inflation is high then you begin at a point where growth is low. We need to change this...
  • Bring more retail investors to market: Jaitley to Sebi August 10, 2014

    New Delhi: Pitching for greater transparency in rule-making and other functions of regulators, Finance Minister Arun Jaitley on Sunday asked Sebi to work towards attracting more retail investors to the capital markets. Addressing the board of the capital markets regulator, Jaitley also asked Sebi to consider new measures to address issues...
  • Jaitley to meet heads of PSU banks on Thursday July 28, 2014

    New Delhi: Finance Minister Arun Jaitley is scheduled to hold his first meeting with all the heads of the public sector banks on July 31 and is expected to impress upon them the need to lower interest rates for boosting growth. "The Finance Minister would be meeting heads of banks on...
  • Rape crisis centres soon; Finance Ministry approves Maneka's proposal July 28, 2014

    New Delhi: The Finance Ministry has given its nod to the setting up of rape crisis centres in all the districts, as proposed by the Ministry of Women & Children Development. Formal approval of the Union Cabinet is likely to be taken up on Monday. Women * Children Development Minister Maneka...
  • Finance Minister Arun Jaitley takes on party MP for questioning if black money can be brought back July 26, 2014

    New Delhi: Finance Minister ArunJaitley on Friday rebuffed his party MP NishikantDubey who had caused an embarrassment to the government by questioning the possibility of black money returning to India in "our lifetime", saying he will not have to wait for long for this. "When my colleague Nishikant Dubey spoke...
  • Recapitalisation of PSU banks is on high priority: Arun Jaitley July 19, 2014

    New Delhi: Finance Minister Arun Jaitley on Saturday said recapitalisation to the tune of Rs 2.4 lakh crore in public sector banks to meet Basel III norms is a 'high priority' item for the government. "We suggested proposal for recapitalising of public sector banks over the next four years...the government is...
  • Government closely monitoring Iraq situation: Arun Jaitley July 18, 2014

    New Delhi: The government on Friday said it is closely monitoring the situation in Iraq and will calibrate policy response to cope with it. "The turmoil in Iraq has the potential to have an impact on international prices of oil. The government closely monitors the emerging situation and calibrates appropriate policy...
  • Government takes steps to boost production of tea, coffee, rubber July 18, 2014

    New Delhi: Government has taken measures to boost the production and export of plantation crops like tea, coffee, rubber and spices through the Plantation Commodity Boards which provide financial and technical assistance to the growers and the industry. Finance Minister Arun Jaitley said the help is offered to the growers and...
  • India in talks with a number of countries for new tax treaties July 15, 2014

    New Delhi: India on Tuesday said negotiations are going on for signing new Double Taxation Avoidance Agreements (DTAAs) with Hong Kong, Iran, Nigeria and three other nations. The three other countries are Azerbaijan, Chile and Venezuela, Finance Minister Arun Jaitley informed Rajya Sabha in in a written reply. Besides, negotiations are also...
  • More tax concessions when economy improves: Finance Minister July 12, 2014

    New Delhi: Finance Minister Arun Jaitley on Saturday promised more concessions in income tax when the economy improves. "We do not want a high taxation regime. It was because of the high taxation regime of the previous government that inflation rose." "I think there was never a Union Budget since 1947, which...
  • Growing population of urban India is an increasing cause of concern July 12, 2014

    One of the main takeaway from the Narendra Modi government's budget was the plan to create 100 smart cities to reduce the burden of migrant population on the ever growing urban India. The question is how will the government make this work. ...
  • Three Maharashtra farmers ended lives on budget day July 11, 2014

    Nagpur: Three debt-ridden farmers committed suicide even as Finance Minister Arun Jaitley presented his well-received budget Thursday, a farm NGO said on Friday. The extreme step by the farmers was prompted by the failed monsoon in large parts of eastern Maharashtra, which has compelled many of them to go in for...
  • Snooping row: US promises to deal with it professionally July 10, 2014

    New Delhi: The US on Thursday promised to deal "professionally" with India's "concerns" over reported snooping of BJP by American spy agency NSA. "We understand the concerns which has been raised, we will deal with them professionally," US Deputy Secretary of State William J Burns told reporters after meeting Finance Minister...
  • Arun Jaitley raises exemption limit, introduces Kisan Vikas Patra to boost savings July 10, 2014

    New Delhi: Encouraging household savings, the government today raised tax exemption limit on investments in financial instruments to Rs 1.5 lakh, re-introduced Kisan Vikas Patra and hiked the PPF investment ceiling. In his maiden Budget 2014-15, Finance Minister Arun Jaitley also proposed higher exemption limit for re-payment of interest on loans...
  • Branded petrol price cut by over Rs 5 per litre July 10, 2014

    New Delhi: Price of branded or premium petrol on Thursday was cut by over Rs 5 per litre after Finance Minister Arun Jaitley slashed excise duty on the fuel. Central Excise duty on Branded Petrol was cut from Rs 7.50 per litre to Rs 2.35 per litre. Branded petrol, which contains...
  • India Inc welcomes Modi's Budget, says it sets tone for higher growth trajectory July 10, 2014

    New Delhi: India Inc on Thursday welcomed the Narendra Modi government's maiden budget, saying it sets the tone for attaining higher growth trajectory, job creation and attracting much-needed investments for an economy grappling with multiple challenges. "I think the approach of creating a stable business environment to attract investment and boost...
  • Union Budget: Rs 500 crore for creation of five tourist circuits July 10, 2014

    New Delhi: With an aim of boosting tourism, government on Thursday announced allocation of Rs 500 crore for creation of five tourist circuits with specific themes in the country. In his maiden Budget speech in Parliament, Finance Minister Arun Jaitley said India's rich cultural, historical, and natural heritage provides a huge...
  • Budget doesn't reflect common man's aspirations: Opposition July 10, 2014

    New Delhi: Opposition parties on Thursday criticised the union budget, saying it did not reflect the aspirations of the common man. Finance Minister Arun Jaitley presented his maiden budget on Thursday. "The budget does not reflect the aspiration of the common man. Most of the announcements are ministry programmes, which the finance...
  • Budget 2014: New airports in smaller cities, towns July 10, 2014

    New Delhi: New airports will be developed in smaller cities and towns to encourage air travel in the country, Finance Minister Arun Jaitley announced on Thursday. The Airport Authority of India (AAI) will build the airports through public private partnership (PPP) process, the minister told the Lok Sabha while presenting the...
  • Arun Jaitley allocates Rs 1,000 crore for renewable sector schemes July 10, 2014

    New Delhi: Calling it a 'high priority' area, finance minister Arun Jaitley on Thursday allocated Rs.1,000 crore for the solar power sector, a move that will boost energy generation from renewable sources. The government aims to construct Ultra Mega Solar Power Projects or high capacity plants in the radiation rich...
  • Power producers rise on tax holiday proposal in budget July 10, 2014

    Shares of power producers gain sharply after the finance minister proposed a 10-year tax holiday for power generation companies. Tata Power Co Ltd rises 4.5 per cent, NTPC Ltd is up 2.9 per cent, Adani Power Ltd gains 6.9 per cent and JSW Energy Ltd is 7.8 per cent higher. Arun Jaitley...
  • IT rates unchanged; sops to small, marginal assesses in Budget July 10, 2014

    New Delhi: The Budget for 2014-15 on Thursday left income tax rates unchanged but provided sops to small and marginal assesses by raising the threshold exemption limit from Rs 2 lakh to Rs 2.5 lakh and investments under 80C by Rs 50,000 to Rs 1.5 lakh while promising not to...
  • Tax exemption limit under 80C raised to Rs 1.5 lakh July 10, 2014

    New Delhi: Seeking to boost household savings, the government on Thursday hiked the exemption limit for investments by individuals in financial instruments to Rs 1.5 lakh. Presently the investments and expenditures up to a combined limit of Rs 1 lakh get exemptions under Sections 80C, 80CC and 80CCC of the Income-Tax...
  • Arun Jaitley retains fiscal deficit target at 4.1 pc, outlines road map July 10, 2014

    New Delhi: Outlining the road map for fiscal consolidation, Finance Minister Arun Jaitley on Thursday said the government will retain the fiscal deficit target for 2014-15 at 4.1 per cent of GDP and reduce it further to 3 per cent by 2016-17. Presenting his maiden Budget, the Minister said the prevailing...
  • Government hopes to finalise GST contours this year: Arun Jaitley July 10, 2014

    New Delhi: Committing to expeditiously rolling out Goods and Services Tax (GST), Finance Minister Arun Jaitley on Thursday said a solution to the issues relating to the comprehensive indirect tax regime may be finalised in the current year itself. "I do hope we are able to bring a final solution in...