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Posted Date : 13-Feb-2012 , 04:33:55 pm | Posted By CASANSAAR
Indians are the largest depositors in banks abroad with an estimated 500 billion US dollars (nearly Rs 24.5 lakh crore) of illegal money stashed by them in tax havens, the CBI director said on Monday. India, in particular, has suffered from the flow of illegal funds to tax h...
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Posted Date : 11-Feb-2012 , 09:25:24 pm | Posted By CASANSAAR
The Government today approved 20 foreign direct investment proposals amounting to around Rs 1,034 crore. The proposals were cleared following recommendations of the Foreign Investment Promotion Board.According to the Ministry of Finance release, the Government cleared Singapore-based Fluke South Eas...
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Posted Date : 06-Feb-2012 , 07:47:40 pm | Posted By CASANSAAR
Following is the text of the Speech of Union Finance Minister Shri Pranab Mukherjee at the India Corporate and Investor Meet in Kolkata today:- “...
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Posted Date : 03-Feb-2012 , 07:32:06 pm | Posted By CASANSAAR
The Union Finance Minister Shri Pranab Mukherjee has said in order to achieve the objective of inclusive growth, we need to have 9 plus growth rate for a sustainable period. The Finance Minister said that in order to ensure that everybody gets due share of development, it is necessary that the benef...
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Posted Date : 21-Jan-2012 , 07:46:49 am | Posted By CASANSAAR
The Union Finance Minister Shri Pranab Mukherjee has said that on account of the global impact, the Indian economy was facing areas of concern and to address them appropriate policy instruments were required. The Finance Minister Shri Mukherjee was addressing the First meeting of the Consultative Co...
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Posted Date : 18-Jan-2012 , 09:55:12 pm | Posted By CASANSAAR
Finance Minister says, the Government will have to address the slippages in economic parameters in the upcoming Budget. Addressing 84th Annual General Meeting of FICCI in New Delhi, Pranab Mukherjee warned that the months ahead are difficult as growth rate may fall below 7.5 per cent. He said there ...
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Posted Date : 16-Jan-2012 , 08:08:42 pm | Posted By CASANSAAR
The Government has expressed confidence that moderation in inflation will continue in the coming months. Finance Minister Mr. Pranab Mukherjee today said that the headline inflation would be between six and seven per cent by the end of March. Reacting to the decline in monthly inflation to 7.47...
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Posted Date : 15-Jan-2012 , 07:31:19 am | Posted By CASANSAAR
Chief Economic Advisor Kaushik Basu says, the Finance Ministry will include a special chapter on financing of climate change in the Economic Survey. He said this while addressing a UNDP event in New Delhi.As per the 2010-2011 Economic Survey, India's total carbon- dioxide emissions were about 4 per ...
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Posted Date : 14-Jan-2012 , 09:38:06 pm | Posted By CASANSAAR
The Finance Ministry today said, it expects the public sector units to pay good amount of dividend in the current fiscal.Economic Affairs Secretary R Gopalan told reporters in New Delhi, the Ministry is conscious of the fact that they also need resources for their own financing programmes. They also...
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Posted Date : 12-Jan-2012 , 09:20:56 pm | Posted By CASANSAAR
The Union Finance Minister Shri Pranab Mukherjee said that he is confident that moderation in inflation would continue in the coming months, though softening in the prices of manufactured goods, despite the rapid decline in non-food primary inflation, may be more gradual. The Finance Minister Shri M...
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Posted Date : 12-Jan-2012 , 08:25:45 am | Posted By CASANSAAR
The Union Finance Minister Shri Pranab Mukherjee said that the current year was a challenging one as far as the domestic and the global economy was concerned. The Finance Minister said that the inflation especially the food inflation remained very high during the major part of the year. He said that...
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Posted Date : 10-Jan-2012 , 09:40:11 pm | Posted By CASANSAAR
Hundred per cent foreign direct investment in single brand retail has been allowed and it has been made operational with immediate effect. The Commerce Ministry on Tuesday issued a notification to this effect. According to the Ministry press release, this step is aimed at attracting more foreig...
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Posted Date : 10-Jan-2012 , 01:48:22 pm | Posted By CASANSAAR
The government on Tuesday approved 20 foreign direct investment proposals, including that of Sterlite Grid, Equitas Micro Finance and TV Vision, envisaging total investment of Rs 1,935.24 crore. The proposals were cleared following recommendations of the Foreign Investment Promotion Board (FIPB...
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Posted Date : 06-Jan-2012 , 09:50:57 pm | Posted By CASANSAAR
The government says it will soon notify 100 per cent foreign direct investment in single-brand retail. Secretary in the Department of Industrial Policy and Promotion (DIPP) P K Chaudhery said this in response of a question about issuance of notification of 100 per cent FDI in single-brand retail.The...
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Posted Date : 06-Jan-2012 , 09:49:25 pm | Posted By CASANSAAR
Finance Minister Pranab Mukherjee today said the fiscal deficit for 2011-12 could be more than the projected figure. He said this while addressing a three-day international conference organised by the Institute of Chartered Accountants of India in Chennai. He added, the euro-zone crisis and slow pro...
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Posted Date : 04-Jan-2012 , 04:33:03 pm | Posted By CASANSAAR
The government today said interest rates on post office savings schemes, except the PPF, will remain fixed throughout the term of the scheme. It clarified that interest rate for such small savings will be declared on April 1 every year and will remain valid till the maturity of the scheme. ...
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Posted Date : 03-Jan-2012 , 08:47:53 am | Posted By CASANSAAR
Power Finance Corporation (PFC) has come out with a Rs 5,000-crore tax-free bond issue. PFC is a Navratna Government of India undertaking with the government holding 73.72% stake in it. Allotment will be made on a first-come-first-serve basis and the issue closes on January 16. The Product There...
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Posted Date : 02-Jan-2012 , 05:22:24 pm | Posted By CASANSAAR
The Union Budget will be presented after the completion of elections in five states.The Finance Minister Pranab Mukherjee today said in New Delhi that final dates will be announced after due consultations.He was replying to a query on the likely date for presentation of the Budget.The general budget...
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Posted Date : 02-Jan-2012 , 09:02:34 am | Posted By CASANSAAR
The New Year has kicked off with a major economic reform initiative that will allow foreign individuals to directly buy and sell shares of Indian companies in the country’s stock markets.The government has decided to allow Qualified Foreign Investors, to directly invest in the Indian equity ma...
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Posted Date : 21-Dec-2011 , 08:07:50 am | Posted By CASANSAAR
As per Reserve Bank of India (RBI)’s Circular dated May 3, 2011, bank loans extended on or after 1st April, 2011 to MFIs have been given the status of priority sector advances subject to fulfillment of certain conditions like 85% of total assets of MFIs being in the nature of qualifying assets...
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Posted Date : 15-Dec-2011 , 07:48:56 pm | Posted By CASANSAAR
The Government of India and the Asian Development Bank (ADB) today signed an agreement for the first tranche (US$ 113 million) under the US$ 350 million Himachal Pradesh Clean Energy Transmission Investment Programme which is a multi-tranche financing facility. The total estimated investment cost of...
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Posted Date : 14-Dec-2011 , 07:49:13 am | Posted By CASANSAAR
Union Finance Minister, Shri Pranab Mukherjee will inaugurate the International Conference on “Economic Policies for Emerging Economies” tomorrow i.e. December 14, 2011. Shri Mukherjee will also deliver the Inaugural Address on the occasion. This International Conference is marked as the...
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Posted Date : 14-Dec-2011 , 07:48:31 am | Posted By CASANSAAR
New Pension Scheme (NPS) is a defined contribution scheme, its pay out depends upon the amount of contribution and the growth on the investment over a period of time for an individual while defined benefit schemes pay out is defined and is based on salary and number of years in service etc. at the t...
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Posted Date : 11-Dec-2011 , 09:02:19 am | Posted By CASANSAAR
The Finance Ministry today asked state governments of the eastern region to release about 200 crore rupees as part of their share for recapitalisation of Regional Rural Banks, RRBs in the country. Addressing Chief Ministers and Bankers of the eastern region at a meeting in Kolkata, the Finance ...
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Posted Date : 03-Dec-2011 , 08:34:38 am | Posted By CASANSAAR
India's forex reserves fell to a nine-month low despite a temporary reprieve to the rupee which, if inflows don't revive, may resume its slide through June 2012 as more than a $100 billion of debt repayments begin to unfold. Currency strategists HSBC to CLSA are forecasting the Indian rupee to t...
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Posted Date : 30-Nov-2011 , 08:49:33 am | Posted By CASANSAAR
The Rs 45 crore tax exemption given to the ICC on the revenue generated from this year's cricket World Cup here was "unjustified and devoid of merit", the Standing Committee on Finance has concluded in an inquiry.The World Cup was jointly hosted by India, Sri Lanka and Bangl...
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Posted Date : 30-Nov-2011 , 08:45:30 am | Posted By CASANSAAR
Volatility is inherent in any market. It is an outcome of perceptions of the investors – domestic and overseas, retail and institutional – about the economy, the sector and the company. The domestic fundamentals of economy are strong and intact. Capital flows on account of Fo...
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Posted Date : 25-Nov-2011 , 08:19:39 pm | Posted By CASANSAAR
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on November 15, 2011, Government has approved 18 Proposals of Foreign Direct Investment amounting to ` 2126.20 crore appr...
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Posted Date : 22-Nov-2011 , 08:27:01 pm | Posted By CASANSAAR
Finance Minister Pranab Mukherjee has said that the Reserve Bank of India is keeping a close eye on the value of rupee against dollar. Talking to reporters outside Parliament, Mr Mukherjee however said that RBI can not make much intervention as the rupee volatility is because of uncertainty in the i...
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Posted Date : 21-Nov-2011 , 09:00:16 pm | Posted By CASANSAAR
The finance ministry on Monday said the ability of the Reserve Bank to intervene in the forex market to arrest the fall in rupee is limited, even as the Indian currency declined to a 32-month low of Rs 51.50 per US dollar in the early trade. "RBI's ability to intervene in forex market...
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