Mumbai: Amidst the ongoing gloom on the economic front, Finance Minister P Chidambaram on Monday allayed fears of the industry over stalled projects and assured all steps to remove the bottlenecks. "The agenda was to identify the projects that have been stalled. We've identified 215 projects which for one reason or another are stalled. We've identified another 126 projects which are new projects, to which banks have sanctioned loans but...
04:41 PM, Apr 08, 2013
Chennai: Union Finance Minister P Chidambaram on Sunday night slammed BJP for not supporting the UPA government's efforts to pass a resolution in Parliament on the Sri Lankan Tamils issue and rejected accusations hurled at Congress that it did not "support" the cause. Addressing a public meeting in Chennai, Chidambaram explained the initiatives the Congress took for passing a resolution in Parliament. The government convened an all-party meet to discuss...
12:27 AM, Apr 08, 2013
New Delhi: Days after a CNN-IBN and FirstPost.com investigation found that ganglord Dawood Ibrahim's cash was washing up in the offshore banking haven of Nassau in The Bahamas in a Bank of Baroda branch, the Central Board of Direct Taxes (CBDT) has approached the channel seeking details into the report and has sought a copy of the CD. On Saturday, Finance Minister P Chidambaram had assured that officials will look...
06:15 PM, Apr 07, 2013
New Delhi: The Indian government will introduce changes in the income tax laws once the dispute with Vodafone is resolved, Finance Minister P Chidambaram said on Saturday. "Amendments to the Income Tax Act is inevitable, that is absolutely necessary," Chidambaram told reporters adding that the government was waiting for a possible outcome of the negotiation on over a $2 billion Vodafone tax dispute. Chidambaram said he would propose the changes...
04:10 AM, Apr 07, 2013
New Delhi: The government is planning to start transferring the subsidy for cooking gas in cash under the direct benefit transfer scheme, Finance Minister P Chidambaram said on Saturday. Addressing a media conference in Delhi, Chidambaram said he would soon meet Petroleum Minister Veerappa Moily and sort out the issues related to the direct cash transfer for liquified petroleum gas (LPG). "We want to quickly move the LPG subsidy to...
03:52 AM, Apr 07, 2013
New Delhi: A day after Prime Minister Manmohan Singh admitted there were problems in the Direct Benefit Transfer (DBT) scheme, Finance Minister P Chidambaram has come out with a clarification saying the government is trying to resolve some issues. The scheme will be rolled out across the country by the end of the financial year 2013-14, Chidambaram further added. On Friday, the Prime Minister had said the exercise of the...
06:30 PM, Apr 06, 2013
New Delhi: A day after a CNN-IBN and FirstPost investigation found that ganglord Dawood Ibrahim's cash was washing up in the offshore banking haven of Nassau in The Bahamas in a Bank of Baroda branch, the government on Saturday assured stern action if any tax laws have been violated. Finance Minister P Chidambaram said officials will look at the CD of the story and take action as required. Earlier on...
05:34 PM, Apr 06, 2013
New Delhi: Finance Minister P Chidambaram on Saturday said the Gross Domestic Product (GDP) of the country will grow by a little over 6 per cent in the fiscal year 2013-14 and the revenue targets would be met. He also noted that the revenue growth of the FY 2012-13, which stands at 16.7 per cent, was "commendable". The Union Minister said the tax target for the last fiscal was at...
04:09 PM, Apr 06, 2013
BJP leader Yashwant Sinha on Wednesday charged that the Indian economy is in a bad shape and asked Congress President Sonia Gandhi to direct her "team of economic managers" to resign and go for elections to choose a new government. ...
08:36 PM, Apr 03, 2013
New Delhi: Responding to Prime Minister Manmohan Singh's rejection of BJP's demand that he appear before the JPC in 2G spectrum allocation case, the opposition on Wednesday said if he has nothing to hide and since he had offered to depose before the PAC, he should not shy away from the panel. "The Prime Minister had earlier written to Public Accounts Committee (PAC) Chairperson Murli Manohar Joshi that he is...
07:59 PM, Apr 03, 2013
Gold extended losses to hit its lowest level in ten months on global cues, attracting bargain hunters in the wedding season. ...
05:16 PM, Apr 03, 2013
Prime Minister Manmohan Singh has rejected Bharatiya Janata Party leader Yashwant Sinha's demand that he must appear before the Joint Parliamentary Committee in the 2G scam case. The Prime Minister has also rejected Yashwant Sinha's allegations against him in the case. ...
03:33 PM, Apr 03, 2013
Faced with muted exports, the government on Wednesday said it will come out with a "pragmatic" Foreign Trade Policy (FTP) on April 18, which among other things, would provide incentives to push shipments. ...
02:20 PM, Apr 03, 2013
Finance Minister P Chidambaram suggested on Tuesday that the government is unlikely to raise the import tax on gold further to avoid gold smuggling and would instead introduce inflation-indexed instruments to help curb a record current account deficit. ...
12:44 PM, Apr 02, 2013
The Bharatiya Janata Party has hit out at 2G Joint Parliamentary Committee Chairman PC Chacko again for not calling former telecom minister A Raja to depose. BJP leader Yashwant Sinha has demanded that former telecom minister A Raja be called to depose as he is equally culpable as Prime Minister Manmohan Singh and Finance Minister P Chidambaram in the 2G case. ...
12:32 PM, Apr 02, 2013
BJP leader Yashwant Sinha, a member of the JPC probing the 2G scam, on Monday wrote to the PM asking him to appear before the panel. Citing former Telecom Minister A Raja's communication to JPC, Sinha asked PM Manmohan Singh to appear before the committee to 'clear his name' following allegations levelled against him. ...
08:57 PM, Apr 01, 2013
>Asserting that India has to sort many internal issues, Finance Minister P Chidambaram on Monday said containing fiscal deficit, current account deficit and inflation are big challenges that country is facing currently. However, he maintained that the problems were being addressed and that fiscal deficit will reach the target of 3 per cent in 2016-17. ...
06:40 PM, Apr 01, 2013
India's economy is capable of absorbing $50 billion in foreign direct investment per year, Finance Minister P Chidambaram said on Monday. Addressing a news conference during a visit to Tokyo promoting India as investment destination, Chidambaram also reiterated that growth in Asia's third-largest economy was expected to accelerate in the current fiscal year to March 2014. ...
02:25 PM, Apr 01, 2013
The new tax policy and charges announced in Union Budget and Railway Budget 2013-14 have become applicable from Monday. Sparing the common man and taxing the super-rich - both individuals and corporate houses, Union Finance Minister P Chidambaram has increased social spending but stayed away from blatant pre-poll sops in his Budget. ...
01:20 PM, Apr 01, 2013
The Finance Ministry has asked public sector banks to limit the amount of loan write-offs and sought details of recoveries made by them in the six years ending 2011-12 with an aim to improve the finances of PSU lenders. ...
12:10 PM, Mar 31, 2013
