Finance Minister

  • Interim Budget: Government plans to boost PSU banks, may provide Rs 11,200 crore 17-02-2014 03:03 PM

    New Delhi: Finance Minister P Chidambaram on Monday proposed to infuse Rs 11,200 crore in public sector banks to enhance their capital in the next financial year. "In 2014-15, I propose to provide Rs 11,200 crore for capital infusion in public sector banks. They have opened 5,207 branches so far,...
  • Government to loan Rs 4.57 lakh crore to bridge fiscal deficit in 2014-15 17-02-2014 01:24 PM

    New Delhi: The government on Monday pegged its net borrowing for 2014-15 at Rs 4.57 lakh crore, Rs 11,580 crore less than the revised estimates of the current fiscal. "The net market borrowing of the Central Government in 2014-15 is estimated to be Rs 4,57,321 crore," as per the interim...
  • No policy paralysis, Indian economy better placed today: Chidambaram 17-02-2014 12:36 PM

    New Delhi: Rejecting arguments of "policy paralysis", Finance Minister P Chidambaram on Monday said the economy is more stable than what it was two years ago following several steps taken by the government and that the growth will be higher in the second half of the fiscal. "Thanks to the...
  • UPA II to present its last interim budget in Parliament on Monday 17-02-2014 12:09 AM

    New Delhi: With just two months left for the general elections, UPA II will present its last interim budget in Parliament on Monday. While the Railway Budget was reduced to a mere 14-minute show, people across the country await Congress-led UPA's last minute attempts to woo the voters ahead of...
  • Interim Budget 2014: Auto industry hoping for surprise from North Block 15-02-2014 12:15 PM

    New Delhi: Expectations are running high that despite limitations, Finance Minister P Chidambaram would make one last ditch attempt to revive the manufacturing sector when he presents the last economic statement, the vote on account on Monday. Despite numerous snubs in the past, the auto industry is still hoping for...
  • EU falling behind India, China, says British Finance Minister George Osborne 15-01-2014 04:56 PM

    British Finance Minister George Osborne on Wednesday warned the European Union that it was falling behind India and China and must reform to halt the bloc's decline. "We can't go on like this...(there is a) simple choice for Europe: reform or decline," Osborne stressed while addressing a conference organised by...
  • Slowing economy may force Chidambaram to wield budget knife 03-10-2013 02:27 PM

    New Delhi: The finance minister may have to slice at least 200 billion rupees from government spending to prevent a budget blow-out, which could threaten to send the country's credit rating into "junk" status, two ministry officials said. P Chidambaram will make a final decision on whether to go ahead...
  • UPA's new austerity measures, officers to travel only in economy class 18-09-2013 07:32 PM

    New Delhi: The Central Government has announced new austerity measures to cut non-plan expenditure by 10 per cent. Finance Minister P Chidambaram said that the government officials, barring top bureaucrats, will fly only in economy class for domestic tours. The Finance Minister also added that the government will impose a...
  • UPA’s governance is far sighted: Chidambaram 14-09-2013 08:46 PM

    Sivaganga:Mounting an apparent veiled attack on the governance plank of BJPs prime ministerial candidate Narendra Modi, Union Finance Minister P Chidambaram on Saturday said while the UPA was implementing far sighted projects others were sowing hatred and dividing the people. There are two types of governance. While we are peacefully...
  • Coal India, trade unions to meet on Sep 11 on stake sale issue 06-09-2013 03:23 PM

    New Delhi: State-owned Coal India (CIL) will hold a meeting with five trade unions next week to persuade them to withdraw their strike notice against the government's move to divest five per cent stake in the PSU firm. The development follows the five major trade unions representing the workers of...
  • India @ 9 with Rajdeep Sardesai 02-09-2013 11:50 PM

    Catch the day's top stories with Rajdeep Sardesai on India @ 9. ...
  • Is the government running out of options to control the oil pool deficit? 02-09-2013 11:20 PM

    In an attempt to cut oil consumption, the Oil Ministry had on Sunday proposed petrol pumps to be open from 8 am to 8 pm. However, Oil Minister Veerappa Moily took a U-turn on Monday and denied any such proposal after facing criticism from the Opposition and the public. ...
  • The Last Word: What are sensible and silly ways of conserving fuel? 02-09-2013 09:31 PM

    In an attempt to cut fuel consumption, the Petroleum Ministry has proposed petrol pumps to be open from 8 am to 8 pm only. Oil Minister Veerappa Moily had earlier written a letter to Prime Minister Manmohan Singh and Finance Minister P Chidambaram suggesting further hike on fuel prices. ...
  • News 360: No plan to restrict petrol pump timings, says Veerappa Moily 02-09-2013 09:28 PM

    Petroleum Minister Veerappa Moily does a U-turn on the suggestion of keeping petrol pumps shut from 8 pm to 8 am. Speaking to IBN18 Editor-in-Chief Rajdeep Sardesai, Moily said there has been no such proposal. ...
  • PM, FM wanted Parliament session extension for Pensions Bill: sources 02-09-2013 10:46 AM

    New Delhi: With the Pensions Bill likely to come up for discussion in Parliament on Monday, sources are saying that Prime Minister Manmohan Singh and Finance Minister P Chidambraram had pressed for an extension of Parliament session till September 6 so that the Pensions Bill can be passed in the...
  • Watch: Analysts discuss the market as rupee hits lifetime low 28-08-2013 07:48 PM

    Despite the Finance Minister's statements, the efforts to talk up the economy have not been effective. ...
  • India @ 9 with Rajdeep Sardesai 27-08-2013 11:55 PM

    Catch the day's top stories with Rajdeep Sardesai on India @ 9. ...
  • Rupee hits all-time closing low of 66.24, posts biggest fall in nearly 18 yrs 27-08-2013 07:02 PM

    The rupee hit a record low and posted its biggest percentage fall in 18 years on Tuesday after Lok Sabha's approval of a $20 billion plan to provide cheap grain to the poor renewed doubts about government resolve to control spending ahead of elections due next year. The alarm over...
  • Diesel price likely to go up by at least Rs 5 27-08-2013 03:06 PM

    New Delhi: A steep hike in diesel price is likely after the end of the monsoon session of Parliament. Sources in the Ministry of Petroleum and Natural Gas said that there is a need to hike the diesel price by at least Rs 5 per litre. The ministry feels that...
  • Cut expenditure to check further slide in the rupee, says Montek 25-08-2013 09:04 PM

    Deputy Chairman of the Planning Commission Montek Singh Ahluwalia has suggested a cut in wasteful government expenditure as a strong and necessary measure to control the fiscal deficit but defended financial burden of the Food Security Bill. He was speaking to Karan Thapar on Devil's Advocate. Here is the transcript...
  • Cut wasteful govt expenditures, but spare food subsidies: Montek 25-08-2013 05:42 PM

    Deputy Chairman of the Planning Commission Montek Singh Ahluwalia has suggested a cut in wasteful government expenditure as a strong and necessary measure to control the fiscal deficit but defended financial burden of the Food Security Bill. He was speaking to Karan Thapar on Devil's Advocate. Here is an excerpt...
  • Use foreign exchange reserves to curb the slide of the rupee: Montek 25-08-2013 01:46 PM

    New Delhi: Deputy Chairman of the Planning Commission Montek Singh Ahluwalia in an interview with Karan Thapar on CNN-IBN, suggested the use of foreign exchange reserves as a measure to finance the current account deficit. He said this was one step the government must take to if wants to check...
  • Chidambaram warns of flat Q1, says rupee undervalued 22-08-2013 10:03 PM

    India's troubled economy did not rebound in the quarter that ended in June but will begin to in the rest of the financial year, the finance minister said on Thursday, after the rupee, which he said was "undervalued," hit another record low. The rupee has tumbled 17 percent since May,...
  • India @ 9 with Rajdeep Sardesai 16-08-2013 11:28 PM

    Catch the day's top stories with Rajdeep Sardesai on India @ 9. ...
  • Has UPA 2 lost the battle to revive the faltering economy? 16-08-2013 11:23 PM

    With the economy not showing signs of coming out of the slowdown, the markets crashing and the rupee hitting a record low of 62 to the dollar on Friday, Finance Minister P Chidambaram appealed for calm and urged people not to spread panic saying that the sharp falls in domestic...
  • News 360: Sensex crashes 769 points; its biggest fall in 4 years 16-08-2013 08:50 PM

    There has been a carnage on Dalal Street with the Sensex crashing more than 700 points and the rupee hitting a record low of 62 to the dollar forcing the Prime Minister's Office to call a high-level meeting. Nifty also fell drastically over 200 points down to its biggest percentage...
  • Sodomy case: MP High Court grants bail to former state finance minister Raghavji 13-08-2013 12:16 AM

    Jabalpur: Madhya Pradesh High Court on Monday granted bail to former state finance minister Raghavji, arrested on sodomy charges. The bail was granted by the court of Justice TK Kaushal on the grounds of old age and health condition, advocate Raghvendra Singh Raghuvanshi said. "The bail plea of Raghavji was...
  • Will discuss Telangana issue at the appropriate time: Chidambaram 05-08-2013 08:44 PM

    Finance Minister P Chidambaram has said that the govt is willing to discuss the issue of Telangana but only at an appropriate time. He also said that the various issues including sharing of river waters, generation and distribution of electricity, safety and security of residents of all three regions, guarantee...
  • Govt will liberalise FDI policy to raise more funds: Chidambaram 31-07-2013 04:22 PM

    New Delhi: Faced with sliding rupee, Finance Minister P Chidambaram on Wednesday said that the government will further liberalise the FDI policy and encourage the public sector undertakings to raise funds from overseas markets. Addressing media on completion of one year as Finance Minister, he exuded confidence that economy would...
  • Gold import surges in July, curbs to continue: Chidambaram 29-07-2013 04:57 PM

    Ahmedabad: Restrictions on gold imports will continue following a surge in inward shipments of the metal in July after moderating in the previous month, Finance Minister P Chidambaram said on Monday. "Imports were low in June but in July it has turned again...in July the imports have risen, therefore those...