when questioned on party members becoming more populist closer to the elections, Chidambaram said he was confident of the Congress going into elections if there is growth, more jobs, tamed inflation andthe people have the confidence that tomorrow will be better than today
The Union finance minister allocated Rs 33,000 crore to the Mahatma Gandhi National Rural Employment Guarantee Scheme in the Budget 2013-14.
Foreign fund investment in Indian capital market grew 4-fold to over Rs 1.63 lakh crore in 2012, with the financial services and software sectors cornering bigger pie, Parliament was informed today.
Terming the Railway Budget for 2012-13 as "practical and implementable", Finance Minister P Chidambaram today said that his cabinet colleague Pawan Kumar Bansal has presented the finances of the railways in a very candid manner.
Finance Minister P Chidambaram today said the Cabinet is likely to take a view on the Rs 11,200-crore Vodafone tax case next week.
Chidambaram said the green shoots were visible and with prudent and sound policy "we can recapture the magic of 2004-08. The average growth was 8.5 percent during that period."
Concerned over the reluctance of savers to park surplus funds in financial instruments, Finance<br /><br /> Minister P Chidambaram today said he would modify the Rajiv Gandhi Equity Savings Scheme (RGESS)
The reduction in growth in agriculture and allied sector has been on account of rainfall being lower than normal, particular in the month of June-July., the ministry said.
The government has budgeted to collect over Rs 5.05 lakh crore in the current fiscal from indirect taxes that comprise excise, customs and service tax, an increase of 27 per cent over realisation in the previous fiscal.
The improvement on the fiscal deficit front in comparison to the same period a year ago is attributed to government'smeasures of rationalisation of expenditure including 10 percent mandatory cut on non-plan expenditure.
The Reserve Bank will announce new bank licensing guidelines within a fortnight under which four-five licences are likely to be given to private sector entities, Finance Minister P Chidambaram said today.
The real problem, he said, is to get the stalled projects off the ground, raise the savings ratio and encourage corporates, those who are sitting on piles of cash, to move ahead with investment projects.
India is looking at "some other" steps to curb gold import which has led to widening of the Current Account Deficit (CAD), Finance Minister P Chidambaram has said.
Chidambaram said he was seeking to resolve the outstanding tax matter within the month.
The government believes that the opening the sector will pave the way for the creation of some world-size banks and that deep-pocketed corporates will be able to provide much-needed capital for banks.
Chidambaram is on a four-country roadshow to drum up foreign investment, as he struggles to revive economic growth and lure investment while trying to trim the fiscal deficit - a tough job given a general election looms in 2014.
Finance Minister P Chidambaram today said general elections are 15 months away and the Budget to be presented next month will be "responsible".
The government proposes to reduce fiscal deficit to 4.8 percent in the next financial year
The biggest threat to reforms in India is an unstable government at the Centre after 2014 elections, Finance Minister P Chidambaram said today reaffirming government's commitment to reforms