FINANCE

  • Bihar all-party meet to write to PM Modi on loss due to Finance Commission 5 days ago

    Patna: An all-party meeting convened by Chief Minister Nitish Kumar, which was boycotted by the BJP, on Monday decided to "write" to Prime Minister Narendra Modi about the "estimated Rs 50,000 crore loss" to the state due to the 14th Finance Commission recommendations. The meeting attended by leaders from RJD,...
  • Government to borrow Rs 3.6 lakh crore in first half of 2015-16 5 days ago

    New Delhi: The Union government will borrow Rs 3.6 lakh crore from markets in the first half of the next financial year, which is over 50 per cent of the annual target of Rs 6 lakh crore. "We will issue long-term bonds of 40 years in early next financial year....
  • India needs to become competitive in infrastructure, tax policy: Arun Jaitley 1 week ago

    Gurgaon: Advocating easing of entry barriers for global corporations, Finance Minister Arun Jaitley on Saturday said that India needs to become globally competitive from infrastructure to taxation. In his convocation address at the Management Development Institute (MDI) here he underlined the need for relaxing norms for...
  • Black money bill likely to be tabled in Lok Sabha on Friday March 19, 2015

    New Delhi: To check the black money menace, a bill is likely to be tabled in the Lok Sabha on Friday with stringent provisions to prosecute those stashing illicit wealth abroad, with rigorous imprisonment of up to 10 years. The Undisclosed Foreign Income and Assets (Imposition of New Tax) Bill,...
  • India to strip RBI of power to regulate government bonds March 18, 2015

    New Delhi: India plans to strip its central bank of authority to regulate government bonds but leave it in charge of other money market instruments, setting the stage for a confrontation with Reserve Bank of India Governor Raghuram Rajan. The move by Arun Jaitley's finance ministry is part of an overhaul...
  • Finance Minister Arun Jaitley wins the Indian of the Year 2014 in politics section March 17, 2015

    New Delhi: Union Finance Minister Arun Jaitley won the Indian of the Year award for his work in politics section. Currently the Union Finance Minister, Arun Jaitley is credited with ending the festering and unresolved leadership issues within the BJP post the Vajpayee-Advani era. He played a crucial role in...
  • India @ 9 with Zakka Jacob March 13, 2015

    Catch the day's top stories on India @ 9 with Zakka Jacob. ...
  • News 360: India summons Pakistan Envoy over 26/11 attacks prime accused Lakhvi's release March 13, 2015

    India on Friday summoned Pakistan High Commissioner Abdul Basit after Islamabad High Court ordered the release of 26/11 mastermind Zakiur Rehman Lakhvi. ...
  • Corporate espionage case: CBI raids expose theft and sale of policy papers March 13, 2015

    New Delhi: Central Bureau of Investigation (CBI) on Friday raided various places in Delhi and Mumbai and blew the lid off a racket involving theft and sale of policy papers from the Finance and Commerce ministries. CBI has arrested three persons including a CA Khemchand Gandhi and a section officer and...
  • No more separatist will be freed, J&K CM Mufti assures Rajnath Singh March 10, 2015

    New Delhi: Three days after the Jammu and Kashmir government released hardliner Masarat Alam from jail, Chief Minister Mufti Mohammad Sayeed assured Union Home Minister Rajnath Singh that no more separatists will be released without consulting the Bharatiya Janata Party (BJP). According to sources, Singh spoke with the J&K Chief Minister...
  • Finance Minister Arun Jaitley to address RBI board on March 22 March 8, 2015

    New Delhi: Finance Minister Arun Jaitley will address board members of the Reserve Bank on March 22 to inform them about steps taken in the Budget for 2015-16 to boost economic growth and contain fiscal deficit. "The meeting has been scheduled for March 22 where he would be addressing the board...
  • States should use additional funds for infrastructure: PM Modi March 4, 2015

    New Delhi: Prime Minister Narendra Modi on Wednesday suggested that additional funds and resources at the disposal of states should be directed primarily towards nation building, an official release said. At a meeting with 35 first-time Maharashtra MLAs, who called on him at the Parliament House, Modi highlighted the union government's...
  • RBI rate to lower EMI, boost growth: Finance Ministry March 4, 2015

    New Delhi: Welcoming RBI's decision to cut policy rate by 0.25 per cent, the Finance Ministry's top functionaries on Wednesday said it will bring down EMIs, increase demand and boost economic growth. "What is going to happen to rate cycle moving forward is going to be driven by data and...
  • Tax evasion through foreign assets to be a criminal offence March 2, 2015

    New Delhi: The announcement by Finance Minister Arun Jaitley categorising tax evasion in relation to holding of illegal foreign assets as a "predicate offence" under anti-money laundering laws has, for the first time, made concealment of income a criminal offence in India. At present, tax evasion is a civil offence...
  • Cut in education budget due to higher tax devolution to states: Smriti Irani March 2, 2015

    New Delhi: The huge cut of 16 per cent in the education sector for 2015-16 has been attributed to the higher tax devolution to the states as has been recommended by the Finance Commission. The Union Budget presented for 2015-16 has proposed Rs 69,074 crore as against Rs 82,771 allocated...
  • Finance Ministry proposes levy of tax on all government services March 2, 2015

    New Delhi: The Finance Ministry on Monday proposed the levy of service tax on all services provided by the government and an enabling provision has been proposed in the Finance Bill in this regard. Although the list of services which will incur the service tax has not been decided, telecom and...
  • Completely wrong to call Budget pro-corporate: Centre March 1, 2015

    New Delhi: Rebutting criticism that proposals in the Budget for 2015-16 are pro-corporate and anti-poor, government on Sunday said the views are "completely wrong and ill founded" and not backed by any data. "They (critics) are completely wrong...it is ill founded, misguided and certainly not backed up with any data,"...
  • Narendra Modi regime cracks down on black money, will have one time compliance opportunity: sources March 1, 2015

    New Delhi: A day after Finance Minister Arun Jaitley presented his first full-fledged Budget, the Narendra Modi government took the first step towards cracking down on black money. The Centre will soon introduce one time compliance opportunity, said Finance Ministry sources on Sunday. Sources said the government expected huge revenue collection...
  • Union Budget: Government emphasises on job creation to create millions of jobs February 28, 2015

    New Delhi: With the government putting strong emphasis on job creation, experts on Saturday said measures proposed in the Union Budget can help in creating millions of employment opportunities in the coming years. Global management consultancy Hay Group India Managing Director Nitin Razdan said, "Jobs and hiring in India needs to...
  • Ministry of External Affairs gets 19 per-cent hike in allocation February 28, 2015

    New Delhi: The foreign ministry has seen a good hike of 19 per-cent in its fund allocations in the Union Budget 2015-16 as the main thrust remained towards various development assistance projects implemented by India in neighbouring countries including Bhutan and Afghanistan. While Rs 12,620 crore was given by Finance Minister...
  • Cochin business chamber unhappy as Budget fails to meet demands February 28, 2015

    Kochi: Cochin Chamber of Commerce and Industry has criticised Finance Minister Arun Jaitley for not giving funds for Kerala's crawling public sector industrial units in the Budget on Saturday. However, the body has hailed proposals like announcement on GST and reduction in corporate tax. "Our long-pending demands like AIIMS, Cancer Hospital,...
  • A good Budget with 3-4 forceful directions February 28, 2015

    By Dr Shankar Acharya, Former Chief Economic Adviser to Government of India It is a good Budget. I rate Arun Jaitley's Budget as good. Lot of things he mentioned sounded good. He has also given a forceful direction to 3-4 things. Fiscal consolidation has also been taken into account. I like...
  • Union Budget 2015: It is pro-poor, Opposition has lost it, say NDA ministers February 28, 2015

    New Delhi: Finance Minister Arun Jaitley's Cabinet colleagues have praised him for the Union Budget 2015 calling historical, pro-poor and visionary. Prime Minister Narendra Modi posted half-a-dozen tweets applauding the Budget. "Union Budget 2015 is a Budget with a clear vision. It is a Budget that is progressive, positive, practical, pragmatic...
  • A pro-corporate, anti-poor, disappointing Budget: Opposition February 28, 2015

    New Delhi: On expected lines, Opposition leaders have criticised the Union Budget 2015 presented by Finance Minister Arun Jaitley in Parliament on Saturday, with party president Sonia Gandhi terming it as a "pro-corporate" one. Congress Lok Sabha MP Kamal Nath said this has only been the Budget of commissions, committees and...
  • Finance Minister Arun Jaitley cuts corporate tax rate, keeps individual tax rates unchanged February 28, 2015

    New Delhi: There has been no change in individual tax rates or slabs while corporate tax rate will be cut from 30% to 25% over the next four years. While delivering his first full Budget speech in Parliament on Saturday, Finance Minister Arun Jaitley said individual tax payer will benefit...
  • Government raises farm credit target to Rs 8.5 lakh crore for 2015-16 February 28, 2015

    New Delhi: In a bonanza for farmers, the government on Saturday raised agriculture credit target by Rs 50,000 crore to Rs 8.5 lakh crore for 2015-16 fiscal and also announced financial support to enhance irrigation and soil health to achieve higher agriculture productivity. "Farm credit underpins the efforts our hardworking farmers...
  • GDP in 2015-16 to be 8-8.5%; double-digit growth soon, says Arun Jaitley February 28, 2015

    New Delhi: Finance Minister Arun Jaitley on Saturday said growth in the next financial year will rise to 8-8.5 per cent and clock double-digit level in the subsequent years. "Growth in 2015-16 is expected to be between 8-8.5 per cent. Aiming for a double digit rate seems feasible very soon," he...
  • Economic Survey 2014-15: 'Scope for big bang reforms' as growth pegged at 8 per cent for next year February 27, 2015

    New Delhi: Economic Survey 2014-15, tabled by Finance Minister Arun Jaitley in Parliament on Friday, pegs a growth rate of over 8 per cent for the next financial year while inflation has declined by over 6 percentage points since late 2013. "There is scope for big bang reforms now," said Jaitley...
  • JP Nadda lauds PM, FM on accepting 14th Finance Commission recommendations February 25, 2015

    New Delhi: Terming it as "historic", Health Minister JP Nadda on Wednesday lauded Prime Minister Narendra Modi and Finance Minister Arun Jaitley for accepting the recommendation of 14th Finance Commission and said long pending demands of states have been met through this decision. "The decision to accept recommendations of the...
  • Gujarat CM Anandiben Patel welcomes move to hike share in central taxes February 25, 2015

    Ahmedabad: Gujarat Chief Minister Anandiben Patel on Wednesday welcomed Prime Minister Narendra Modi's decision to hike states' share in central taxes, by 10 per cent from 32 per cent to 42 per cent. "The decision with far-reaching consequences would make progressive states like Gujarat stronger in their march towards progress,"...