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Govt plans to issue overseas bonds in second half of current fiscal: Garg

Sunday, July 7, 2019, 6:20 PM

Govt plans to issue overseas bonds in second half of current fiscal: Garg

The government will soon start the process of raising funds from overseas markets by issuing sovereign bonds in the second half of the fiscal, Finance Secretary Subhash Chandra Garg said. Finance Minister Nirmala Sitharaman in Budget 2019-20 announced that the government would start raising a part of its gross borrowing programme from external markets in foreign currencies.

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Budget stresses on massive infra investments to become USD 5 trn economy

Saturday, July 6, 2019, 9:05 AM

Budget stresses on massive infra investments to become USD 5 trn economy

Finance Minister Nirmala Sitharamanoutlined a host of measures to boost infrastructure, digital economy and jobs creation to achieve USD 5 trillion economy target and said a massive push to all forms of physical connectivity is helping bridge the rural-urban divide. The Jal Marg Vikas project for capacity augmentation of navigation on national waterways is aimed at smoothening internal trade carried through inland water transport.

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Cong FM in Future Will Carry Budget Documents in iPad Says Chidambaram

Friday, July 5, 2019, 9:29 PM

Cong FM in Future Will Carry Budget Documents in iPad Says Chidambaram

Taking a jibe at Union FM Nirmala Sitharaman for carrying the Budget-papers in a four-fold red cloth bag instead of the 'colonial' briefcase, senior Congress-leader P Chidambaram said a minister from his party in the future would bring along the documents in an iPad. "Take it from me, our Congress's finance-minister in the future will bring an iPad," news-agency ANI quoted him as saying.

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Petrol, diesel to be costlier; tax on super-rich, gold imports

Friday, July 5, 2019, 9:09 PM

Petrol, diesel to be costlier; tax on super-rich, gold imports

Finance Minister Nirmala Sitharaman on Friday raised cess on petrol and diesel by Re 1 per litre, while customs duty on gold was also increased to 12.5% from existing 10%. Presenting the first Budget of the Modi government in its second term, Sitharaman said surcharges on individuals having taxable income of Rs 2-crore to Rs 5-crore; and Rs 5-crore and more have been raised.

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Survey for national minimum wage linked to geographic region or skill

Friday, July 5, 2019, 9:05 AM

Survey for national minimum wage linked to geographic region or skill

The Economic-Survey has strongly advocated removing wage disparity in the country to spur demand and proposed the creation of a national minimum-wage that's linked to geographic-region or skill and revised regularly. "The central-government should notify a 'national-floor minimum wage' that can vary-broadly across five geographical-regions," the survey said. "Thereafter, states can fix the minimum wages, which shall not be less than the 'floor wage'."

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Govt appear to be pessimistic about economy: Chidambaram on Eco Survey

Thursday, July 4, 2019, 9:35 PM

Govt appear to be pessimistic about economy: Chidambaram on Eco Survey

The government's Economic Survey for 2018-19 is "bland" and "pessimistic", said Congress leader and former finance minister P Chidambaram on Thursday. Chidambaram, who had four stints as finance minister, said the survey didn't have sector-wise growth projections. "It appears to me that the government, speaking through the economic survey, is pessimistic about the economy."

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Nirmala Sitharaman Meets Manmohan Singh Days Before Her First Budget

Thursday, June 27, 2019, 5:48 PM

Nirmala Sitharaman Meets Manmohan Singh Days Before Her First Budget

Finance Minister Nirmala Sitharaman met former prime minister Manmohan Singh at his home in Delhi today. The meeting comes days before Ms Sitharaman presents the union budget in parliament on July 5. It will be her first budget after taking charge as Finance Minister last month following a landslide win in the national election for Prime Minister Narendra Modi.

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Arun Jaitley opts out of Modi Cabinet, cites health reasons

Wednesday, May 29, 2019, 8:33 PM

Arun Jaitley opts out of Modi Cabinet, cites health reasons

Just before PM Modi's oath-taking ceremony tomorrow, outgoing FM Arun Jaitley has decided not to take-up any active responsibility in the new government due to his poor health. In a letter to the PM, Jaitley said he had orally informed Modi about his desire to not be a part of new BJP-government so that it enabled him to concentrate on his treatment and health.

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Moves To Quell Rumors About Arun Jaitley's Health Include New Photos

Tuesday, May 28, 2019, 7:16 AM

Moves To Quell Rumors About Arun Jaitley's Health Include New Photos

Government officials and friends of Arun Jaitley, 66, took to social-media on the weekend to deny media-reports that he was unwell. Reserve Bank of India Governor Shaktikanta Das tweeted a photo with the finance minister after a "courtesy meeting," while lawmaker Swapan Dasgupta vouched for his "terrific form and wit." Government-spokesman Sitanshu Kar said that reports of Mr Jaitley's health were "false and baseless."

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Arun Jaitley Unlikely To Remain Finance Minister: Report

Friday, May 24, 2019, 4:09 PM

Arun Jaitley Unlikely To Remain Finance Minister: Report

Finance Minister Arun Jaitley is unlikely to continue in his current role due to poor health as PM Narendra Modi begins his second term, according to the source. The sources said that Mr Jaitley, is unlikely to take up any offer to continue in the top job steering Asia's third-largest economy as his health has deteriorated over the past few months.

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