FINANCE MINISTER

  • Kerala Finance Minister KM Mani booked in graft case; rules out resignation December 11, 2014

    Thiruvanthapuram: Kerala Finance Minister KM Mani on Thursday was booked by the Vigilance and Anti Corruption Bureau in connection with the bar bribe scam that had rocked the Congress-led UDF government even as the minister ruled out resigning from the post, saying he would prove his innocence. Taking cognizance of the...
  • Arun Jaitley promises 'civilised' tax regime to attract investment December 10, 2014

    New Delhi: India will soon raise the foreign investment cap in insurance sector and work for making the tax regime "civilised" to attract overseas investments, Finance Minister Arun Jaitley on Wednesday said while exuding confidence of achieving 6 per cent growth next fiscal. Underlining that growth would...
  • Centre aims to pass key bills in Winter Session of Parliament November 22, 2014

    New Delhi: With the Winter Session of Parliament set to begin on Monday, Finance Minister Arun Jaitley on Saturday said that the Centre aims to pass many essential reform bills including Insurance Bill, Coal Ordinance and Constitutional Amendment Bill. He said that the government is committed to get these bills...
  • Government aims at raising savings; re-launches Kisan Vikas Patra November 18, 2014

    New Delhi: With the objective to raise savings in the country, the government today re-launched Kisan Vikas Patra (KVP), an instrument which will provide trusted option of investment to poor and keep them off ponzi schemes. "In the last 2-3 years, savings rate in country has declined from a record high...
  • Finance Minister to review progress of Jan Dhan Yojana November 5, 2014

    New Delhi: Months after Prime Minister Narendra Modi launched the 'Jan Dhan Yojana', Finance Minister Arun Jaitley on Wednesday will review the progress of the NDA government's flagship programme. Jaitley will meet the heads of top banks and take inputs from them on the programme that is aimed at making banking...
  • Finance Minister Arun Jaitley to start budgetary exercise on Monday November 2, 2014

    New Delhi: The Finance Ministry will start the budgetary exercise on Monday, with the Expenditure Secretary meeting various ministries starting with Law and Justice and Information & Broadcasting. The ministry will finalise the revised estimates for 2014-15 and Budget estimates for 2015-16 for Plan and Non-Plan expenses. The meetings with various ministries...
  • Black money case: Disclosure of account holders will embarrass Congress, says Arun Jaitley October 21, 2014

    New Delhi: On the backfoot after saying that the Centre will not reveal the names of account holders in the black money case, Finance Minister Arun Jaitley on Tuesday hit back at the Congress saying doing so would embarrass the party itself. Jaitley, however, added that the names will be disclosed...
  • Government raises natural gas price to US dollar 5.61 per unit October 18, 2014

    New Delhi: Government on Saturday approved raising natural gas price to US dollar 5.61 per mmBtu from November 1 but Reliance Industries will continue to get current US dollar 4.2 rate till it makes up for shortfall in output from KG-D6 block. The Cabinet modified the Rangarajan formula approved by previous...
  • Prakash Javadekar leads bank employees' delegation to meet Finance Minister October 18, 2014

    New Delhi: Representatives of bank employees headed by Union Minister Prakash Javadekar on Saturday met Finance Minister Arun Jaitley for early settlement of wage revision negotiations. Javadekar said the Finance Minister assured the delegation that he would look into the matter and the settlement process would be expedited. The delegation's meeting with...
  • Arun Jaitley 'recovering satisfactorily' : Hospital September 25, 2014

    New Delhi: Finance Minister Arun Jaitley, who was readmitted in a hospital for a post-surgery check-up, is "recovering satisfactorily", the hospital said in a statement. "Shri Arun Jaitley had undergone a surgery for his metabolic disorder three weeks ago. He was admitted for evaluation of post-operative gastro intestinal infection. The...
  • Jan Dhan Yojana will not a burden on banks, says Arun Jaitley August 30, 2014

    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 August 30, 2014

    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 rulemaking 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 debtridden farmers committed suicide even as Finance Minister Arun Jaitley presented his wellreceived 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, reintroduced Kisan Vikas Patra and hiked the PPF investment ceiling. In his maiden Budget 201415, Finance Minister Arun Jaitley also proposed higher exemption limit for repayment 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...