FINANCER

  • Government raises natural gas price to US dollar 5.61 per unit 3 days ago

    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 3 days ago

    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...
  • Finance Ministry restructures indirect taxes formations 5 days ago

    Delhi: The Finance Ministry on Wednesday restructure indirect taxes formations with a view to provide better tax payer services and deepen the tax base. "The restructuring of formations is aimed creating larger number of compact commissionerates, by reorganising the existing commissionerates. This shall provide better tax payer services and deepen the...
  • Jan Dhan phase II: LIC, general insurers asked to finalise products 6 days ago

    Mumbai: Government has asked all state-owned general insurers and country's largest life insurer LIC to finalise the micro-insurance products to be sold to account holders in the second phase of the Jan Dhan scheme to be rolled out from January 26. Ministry of Finance, Joint Secretary - insurance, Anoop Wadhwa had...
  • Government clears 25 FDI proposals worth Rs 1,546 crore 1 week ago

    New Delhi: The Finance Ministry has approved 25 FDI proposals, including six of single-brand retail trade, envisaging a total investment of Rs 1,546.12 crore, and referred a Rs 1,800-crore pharma proposal to the Cabinet for consideration. The proposals have been cleared by the Finance Ministry...
  • Finance Commission Chairman YV Reddy calls for upliftment of dalits October 11, 2014

    Patna: Expressing deep concern with plight of dalits in India and discrimination against them, the 14th Finance Commission Chairman Y V Reddy called for corrective measures at societal level for their uplift. The dalits continue to lag behind in terms of socio-economic empowerment and education despite provisions being there in...
  • 'Need to move away from aggressive tax planning & assessment' October 9, 2014

    New Delhi: There is a need to move away from aggressive tax planning and such tax assessment undertaken in certain situations and find a resolution to this issue, Revenue Secretary Shaktikanta Das said on Thursday. "I think, we should move away from this whole business of...
  • Finance Ministry, RBI to decide on monetary policy framework by December end October 7, 2014

    New Delhi: The Finance Ministry and the RBI will finalise a new monetary policy framework by December end under which the central bank will pursue the retail inflation target to be decided by the government. According to official sources, the internal work for the new...
  • Government looking at merging FMC with Sebi October 5, 2014

    New Delhi: The government is considering a proposal to merge the Forward Markets Commission (FMC) with capital market regulator Sebi to ensure better monitoring of the commodity futures market. "One of the options being considered by the government is merging FMC with Sebi," said a...
  • No decision on making CAG multi-member body: Finance Ministry October 5, 2014

    New Delhi: No decision has been taken on the suggestion of the UPA government-appointed Shunglu Committee to make CAG a multi-member body, the Finance Ministry has said. The high-level committee, headed by former CAG VK Shunglu, had in March 2011 written to former Prime Minister Manmohan Singh suggesting changes in the...
  • India Post suited to be payment bank: Financial Ministry September 29, 2014

    Mumbai: Lack of credit disbursing experience makes the postal department with its vast network of offices around the country better suited to be run as a payment bank and not as a full-fledged universal bank, a top Finance Ministry official said on Monday. "The Department of Posts may be considered...
  • 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...
  • One can open Jan Dhan account by just submitting 2 photos: Finance Ministry September 22, 2014

    New Delhi: Finance Ministry on Monday said people who do not have officially valid documents or Aadhaar numbers can open Jan Dhan bank accounts by submitting two copies of signed photographs at a bank branch. "RBI has issued guidelines dated August 26, 2014, where people who do not have officially valid...
  • Finance Minister Arun Jaitley to launch single window portal for taxpayers September 21, 2014

    New Delhi: An updated version of the income tax department website that will be a single window for all online services offered by the department will be launched on Monday by Finance Minister Arun Jaitley. The website will be more userfriendly and robust, so that it can handle many hits at...
  • G20 finance chiefs aim to 'change destiny of global economy' September 20, 2014

    Cairns (Australia): Finance chiefs from G20 nations held talks on Saturday, confident they can "change the destiny of the global economy" despite rising world political tensions and mounting fears of financial instability. The meeting in Cairns aims to thrash out a set of policies to achieve the ambitious goal of raising...
  • India's GDP to rebound to over 7 pc in 23 years: Arvind Mayaram September 18, 2014

    Cairns: India is following economic growth inducing policies and is confident that the GDP will rebound to over 7 per cent in 23 years, Finance Secretary Arvind Mayaram said on Thursday while emphasising that business confidence is back. Making an intervention during the G20 Deputies Meeting, Mayaram said that the Indian...
  • Government to soon double banks' commission for DBT scheme to 2 pc September 15, 2014

    Mumbai: Finance Ministry is in the process of finalising the commission to banks at 2 per cent of the quantum of funds they transfer to individual beneficiaries under the government's direct benefit transfer (DBT) scheme. "The issue of commission is in the final stages and the order will be issued for...
  • Arun Jaitley out of hospital, to skip G20 meet in Australia September 10, 2014

    New Delhi: Finance Minister Arun Jaitley was released from hospital on Wednesday after a longerthanexpected stay for treatment, and will miss a meeting of finance ministers from the Group of 20 nations in Australia next week. Jaitley was admitted to a private hospital in New Delhi on September 1 for planned...
  • Punjab to seek debt relief from 14th Finance Commission September 9, 2014

    Chandigarh: Faced with "burgeoning" debt, Punjab government is all set to seek debt relief through loan restructuring and change in criteria for devolution of funds to states from the 14th Finance Commission tomorrow in order to overcome financial "challenges". "We will seek debt relief from the 14th Finance Commission which...
  • Steel Ministry asks Finance Ministry to roll back duty of coking coal imports September 9, 2014

    New Delhi: The Steel and Mines Ministry has sought rollback of 2.5 per cent duty on coking coal imports, imposed in the last Budget, to unburden domestic steel makers. Finance Minister Arun Jaitley in Budget 201415 had imposed 2.5 per cent duty on coking coal imports, which the steel industry...
  • No facilitation fee to agents for air travel by government officials September 8, 2014

    New Delhi: The Finance Ministry has barred PSU travel agents, including IRCTC and Balmer Lawrie, from charging facilitation fees from government officials on their domestic and international air travels. The government had on October 10, 2013, allowed three authorised travel agents IRCTC, Balmer Lawrie and Ashok Travels and Tours ...
  • Manmohan Singh named member of Parliamentary panel on Finance September 2, 2014

    New Delhi: Former Prime Minister Manmohan Singh, who is hailed as the architect of economic reforms in the country, is a member of the Parliamentary Standing Committee on Finance, it was announced on Tuesday. Incidentally, M Veerappa Moily, who was a minister in the Manmohan Singh government, is heading the...
  • Government to increase dearness allowance to 107 per cent, up from 100 per cent August 31, 2014

    New Delhi: Government is likely to approve a hike in dearness allowance (DA) to 107 per cent from the existing 100 per cent, benefiting around 30 lakh Centre's employees and its 50 lakh pensioners including dependants. "The average rate of retail inflation for industrial workers from July 1, 2013 to...
  • 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...
  • Inflation in check, growth and investment picking up, assures Arun Jaitley August 30, 2014

    New Delhi: Finance Minister Arun Jaitley on Saturday presented the Finance Ministry's report card for the last hundred days since the NDA government came to power, as well as the recent initiatives taken by the Finance Ministry. Jaitley assured that inflation is in check, growth and investment is steadily picking up...
  • Jan Dhan camps by banks on all Saturdays, 1.84 crore accounts opened August 29, 2014

    New Delhi: Over 1.84 crore bank accounts have been opened under the Jan Dhan scheme and banks will organise camps from 8 am to 8 pm on all Saturdays to reach out to unbanked households, the government said on Friday. "It has been decided that henceforth, the banks will be holding...
  • 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...