News

Finance Minister Arun Jaitley said the AIIB has come up amidst huge expectations in a difficult time for the global economy. Beijing: India continues to maintain a high growth rate even in times of difficult global conditions and is sticking with its agenda of reforms push and infrastructure creation, Finance Minister Arun Jaitley has said. Addressing the annual general meeting of the Board ... Read More »

Arun Jaitley also offered India’s support in establishment of a regional office of the Asian Infrastructure Investment Bank in New Delhi. (File Photo) BEIJING:  India continues to maintain a high growth rate even in times of difficult global conditions and is sticking with its agenda of reforms push and infrastructure creation, Finance Minister Arun Jaitley said. Addressing the annual general ... Read More »

Beijing/Tianjin: China’s finance minister and leading economists on Sunday voiced concerns about Britain’s vote to leave the European Union, with the policymaker saying it has heightened market uncertainty, though some expect a limited impact on the Chinese economy. The “Brexit” decision “will cast a shadow over the global economy… The repercussions and fallout will emerge in the next five to ... Read More »

Recalling the days of Emergency, Arun Jaitley said Parliament without an opposition amended the Constitution in order to legitimise a Constitutional dictatorship. (File Photo) NEW DELHI:  On the 41st anniversary of imposition of Emergency, Finance Minister Arun Jaitley today took swipes at Congress and blamed it for delaying economic reforms by two decades, transforming India into a ‘dynastic democracy’ and ... Read More »

The government has eliminated 1.6 crore duplicate and bogus ration cards that will help save about Rs. 10,000 crore in subsidy bill annually. NEW DELHI:  The government has eliminated 1.6 crore duplicate and bogus ration cards that will help save about Rs. 10,000 crore in subsidy bill annually, said Finance Secretary Ashok Lavasa. In addition, the government has saved Rs. ... Read More »

The merger of SBI with associate banks is likely to take place towards the end of the current fiscal year. New Delhi: Consolidation among public sector lenders is expected to happen only after the completion of merger between State Bank of India (SBI) and its associates, a senior Finance Ministry official said. “Banks can consider merger and acquisition only when their financial strength ... Read More »

Finance Minister Arun Jaitley made the offer to set up AIIB branch in India while addressing the Board of Governors Session of the Annual General Meeting (AGM) of the bank headquartered in Beijing. BEIJING:  India is preparing a basket of projects worth USD 2-3 billion for funding by the Asian Infrastructure Investment Bank (AIIB) in several areas like urban development ... Read More »

Finance Secretary Ashok Lavasa said the government has eliminated 1.6 crore duplicate and bogus ration cards. New Delhi: The government has eliminated 1.6 crore duplicate and bogus ration cards that will it help save about Rs 10,000 crore in the subsidy bill annually, said Finance Secretary Ashok Lavasa. In addition, the government has saved Rs 14,872 crore by offering subsidy on cooking gas (LPG) ... Read More »

Currently, the interest rates are decided by the Governor of theReserve Bank of India. New Delhi: Moving ahead with the operationalisation of the interest rate setting monetary policy committee, the Finance Ministry has said it will notify the rules “within few weeks” and thereafter appoint three government nominees. “We are already working on it (on the rules). I think it should not take more than ... Read More »

Finance Minister Arun Jaitley said the government is seeking private sector participation in converting railway stations into commercial hubs. Beijing: India needs over $1.5 trillion in investment in the next 10 years to bridge infrastructure gap as the government intends to connect seven hundred thousand villages with roads by 2019 as part of a massive modernisation plan, Finance Minister Arun ... Read More »