FINANCING

  • Kerala Finance Minister KM Mani booked in graft case; rules out resignation 1 week ago

    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...
  • Sale of 5 per cent SAIL share gets government over Rs 1700 crore December 5, 2014

    New Delhi: The Union government has garnered Rs 1,715 crore from sale of its 5 per cent stake in steel giant SAIL. The government's 5 per cent share has been sold at a floor price of Rs 83 per share. The sale of 5 peer cent stake in SAIL is only...
  • Finance Minister for more global cooperation to check tax evasion, smuggling December 4, 2014

    New Delhi: Calling upon revenue intelligence agencies to enhance cooperation with their global counterparts to check tax evasion and smuggling, Finance Minister Arun Jaitley on Thursday said free trade should also mean fair trade. Although the fiscal incentives for financial malpractices have come down over the years, the Minister said revenue...
  • Finance Minister Arun Jaitley against burdening salaried, middle class November 22, 2014

    New Delhi: Finance Minister Arun Jaitley on Saturday said that he does not favour burdening the salaried and middle-class with more taxes but would go after the evaders in widening the net. In fact, he would encourage more money being put in the pockets of tax payers that will lead to...
  • 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...
  • Jayant Sinha takes charge as MoS in Finance Ministry November 10, 2014

    New Delhi: IIT-Delhi and Harvard Business School alumnus Jayant Sinha on Monday took charge as Minister of State in the Finance Ministry. Sinha was briefed by senior officials in the Ministry soon after taking charge. He assumes office at a time when the Ministry is preparing the Budget for 2015-16. The...
  • Ebola countries to get $450 million in financing November 6, 2014

    United Nations: A new private sector initiative announced on Wednesday will provide at least $450 million in commercial financing to the three West African countries hardest hit by Ebola to promote trade, investment and employment. The International Finance Corporation, which is part of the World Bank Group, announced that the package...
  • Telangana government presents over Rs 1 lakh crore maiden budget November 5, 2014

    Hyderabad: The Telangana government presented its maiden budget with an outlay of over Rs 1 lakh crore in the Assembly on Wednesday. Etela Rajender, Finance Minister of Telangana state formed on June 2 this year, said in his budget speech that for the ten months of the financial year 2014-15,...
  • 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...
  • Devendra Fadnavis reviews status of key departments in Maharashtra November 1, 2014

    Mumbai: A day after taking charge as the 27th Chief Minister of Maharashtra, Devendra Fadnavis on Saturday got down to the job, reviewing the status of key departments. Fadnavis chaired a meeting of the state Cabinet at the government's Sahyadri guest house in south Mumbai. The Chief Minister reviewed presentations of finance,...
  • Government extends the 14th Finance Commission's term by two months November 1, 2014

    New Delhi: Government has extended the term of the 14th Finance Commission by two months to December 31. "The proposal of extension of time period by two months for submission of report by the Fourteenth Finance Commission has been considered and approved by the Cabinet," an official release said. The...
  • Second transfer for Arvind Mayaram in a fortnight, now goes to Minority Affairs October 30, 2014

    New Delhi: The Narendra Modi government on Thursday transferred Arvind Mayaram again. In the second transfer to Mayaram in a fortnight, he is now made Secretary of Minority Affairs. The Appointments Committee of Cabinet (ACC) has approved cancellation of order of appointment of Mayaram, a 1978 batch IAS officer of Rajasthan...
  • 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...
  • Finance Ministry restructures indirect taxes formations October 15, 2014

    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 October 15, 2014

    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 October 14, 2014

    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...