News

Government Cancels 1.6 Crore Bogus Ration Cards; To Save Rs. 10,000 Crore

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 »

Bank Mergers Likely To Happen After SBI Consolidation: Report

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 »

India Preparing Projects Worth $2-3 Billion For Funding By AIIB: Arun Jaitley

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 »

Government Strikes Out Bogus Ration Cards, To Save Rs 10,000 Crore

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 »

Government Says Monetary Policy Panel Rules To Be Notified In Few Weeks

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 »

India Needs $1.5 Trillion For Infrastructure: Arun Jaitley

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 »

Sky Is The Limit For Investments In India: Arun Jaitley

Arun Jaitley also attended the Board of Governors meeting of the China-backed Asian Infrastructure Investment Bank (AIIB). BEIJING:  Sky is the limit for investments in India and its economic growth is sustainable because it has a lot of distance to cover, Finance Minister Arun Jaitley said today. “It (growth) is sustainable for the reason that India has lot of distance ... Read More »

India Needs $1.5 Trillion For Infrastructure: Arun Jaitley

Finance Minister Arun Jaitley said that India will undergo massive modernisation over the next 10 years, and needs $1.5 trillion for infrastructure development. BEIJING:  HIGHLIGHTS India will undergo massive modernisation over next decade: Arun Jaitley This will generate growth, employment, pull many out of poverty, he says Government aims to connect thousands of villages by 2019 India needs over USD ... Read More »

India To Decide On Projects To Be Referred To AIIB: Arun Jaitley

“India has a massive infrastructure programme which is going on,” Arun Jaitley said. BEIJING:  India has a massive infrastructure programme and will decide on which of the projects under it could be referred to the Asian Infrastructure Investment Bank (AIIB) for funding, Finance Minister Arun Jaitley today. Mr Jaitley made the remarks ahead of the crucial AIIB Board of Governors ... Read More »

Finance Minister Arun Jaitley Meets Chinese Counterpart In Beijing

Arun Jaitley, who arrived in Beijing on June 23, is scheduled to attend the annual Financial Dialogue at the ministerial level with Lou Jiwei on June 27. (PTI photo) BEIJING:  Finance Minister Arun Jaitley today met his Chinese counterpart Lou Jiwei in Beijing and discussed the bilateral economic cooperation and the global macroeconomic situation. The two ministers talked about bilateral ... Read More »