Tag: Arun Jaitley

New Delhi: Acknowledging that private investment was short in coming, Finance Minister Arun Jaitley on Thursday said that the government will come out with “appropriate action” at the right time to boost the economy. “From day one, this is a proactive government. We are analysing the economic indicators and appropriate action will be taken at […]

New Delhi: The Union Cabinet on Wednesday decided that the Centre would surrender its 50 per cent stake in three ITDC hotels to the respective state governments, which would now have full authority over the redevelopment of these properties. “The Centre is withdrawing its 50 per cent ownership stake in these ITDC properties and hand them […]

New Delhi: Defending the jump in India’s wholesale price-indexed (WPI) inflation in August to 3.24 per cent, nearly double that of July, Union Finance Minister Arun Jaitley on Thursday said it was well below the target of 4 per cent. “During monsoon, there is a spike in vegetable prices. It is usually the highest level […]

New Delhi: Finance Minister Arun Jaitley on Wednesday said he was sure Aadhaar will stand the test of constitutionality as the Supreme Court’s decision on the legislation is still pending. “The legislation has been passed and I’m sure it will stand the test of constitutionality. Even while upholding the idea of privacy as an important constitutional […]

New Delhi: Finance Minister Arun Jaitley on Thursday said that he expected convergence of two Goods and Services Tax (GST) rates into one in the coming days, though ruling out a single rate of taxation under the new indirect tax regime. “I see two standard rates converging into one in future. The GST Council may decide […]

New Delhi: Denying that demonetisation failed to achieve its objectives, Finance Minister Arun Jaitley on Wednesday said the measure had succeeded in reducing cash in the economy, increasing digitisation, expanding the tax base, checking black money and in moving towards integrating the informal economy with the formal one. “The objective of demonetisation was that India is […]

Bengaluru: Defence Minister Arun Jaitley on Saturday unveiled the third line of metro manufacturing facility of the state-run Bharat Earth Movers Ltd (BEML) here to ramp up its production to meet the demand for more such cars. “The third line will enable the company to increase production capacity to 27 cars from 18 per month […]

New Delhi: The government on Wednesday hiked the creamy layer ceiling for the Other Backward Classes to Rs 8 lakh per annum from the existing Rs 6 lakh for central government jobs, Union Finance Minister Arun Jaitley announced. Those in the OBC category earning upto Rs 8 lakh annually will now be included in reservation benefits.

New Delhi: Former Finance Minister P. Chidambaram on Saturday said the economic slowdown is real as stated by the government’s Chief Economic Advisor Arvind Subramanian and asked whether Prime Minister Narendra Modi and Finance Minister Arun Jaitley believed him. “Economic slowdown is real. CEA says so. Will PM and FM believe him,” Chidambaram asked in […]

New Delhi: Finance Minister Arun Jaitley on Monday introduced a bill under which the Centre may authorise the Reserve Bank of India to direct banks to initiate recovery proceedings against loan defaulters. The Banking Regulation (Amendment) Bill will replace an ordinance that earlier enabled this. The recovery proceedings would be under the Insolvency and Bankruptcy Code, […]

New Delhi: The Centre is fully for bringing petroleum products under GST scheduled for implementing from July 1, and the GST Council will require to take a decision on taxing these as per the new indirect tax regime, Finance Minister Arun Jaitley said on Friday. “As was decided by the Empowered Commitee (EC) of states’ […]

New Delhi: The Union cabinet on Wednesday gave in-principle approval for Air India’s stake divestment, Finance Minister Arun Jaitley said here. “In-principle approval for Air India divestment has been given,” the minister said at a press briefing after the Union cabinet met here. “The Civil Aviation Ministry’s proposal for formation of a group under the […]

New Delhi:The Goods and Services Tax (GST) regime will be launched on the midnight of June 30 at the Central Hall of Parliament, Finance Minister Arun Jaitley announced on Tuesday. President Pranab Mukherjee, Vice President Hamid Ansari, Prime Minister Narendra Modi and former Prime Minister Manmohan Singh will be among those who will attend the […]

New Delhi: The Goods and Services Tax (GST) Council at its 16th meeting here on Sunday revised the rates of 66 items out of the 133 for which representations had been received seeking change from the fitments originally made in the four-slab indirect tax structure, Union Finance Minister Arun Jaitley said. Following the 15th meeting of […]

New Delhi: The GST Council on Saturday completed the exercise of bringing all items under a 4-slab tax structure with gold to be taxed at 3 per cent, ending the suspense on the item dear to Indians, even as all states barring West Bengal agreed on the rollout of the new indirect tax regime on […]