finance minister

The Union Finance Minister Shri Pranab Mukherjee said that the primary benefit of the Goods and Services Tax (GST), when introduced, would be the removal of cascading effect of taxes which acts like a hidden cost and makes goods and services uncompetitive both in domestic and international markets. Full Article

The Union Finance Minister Shri Pranab Mukherjee said that the monetary authority in India has on 17th April 2012 reversed the policy rates for the first time, after a gap of nearly three years. He said that he hopes this will help in investment revival and contribute to strengthening of business sentiments. On the fiscal front, the Finance Minister said that we are committed to bring down the subsidy bill below 2% of GDP in 2012-13 and to 1.75% of GDP in next three year.. Full Article

The rapid growth of the Aviation sector in India has generated demand for additional finance for working capital and capacity expansion. High operating costs, particularly on account of high fuel costs, have put additional stress on the Airline Industry. Full Article

The Income Tax Department achieved another milestone in Tax Payers’ Services when SHRI PRANAB MUKHERJEE HON’BLE UNION FINANCE MINISTER inaugurated and dedicated the AAYAKAR SAMPARK KENDRA (Call Centre Services) to the Nation at Jangipur, Murshidabad, West Bengal on 14th April 2012. Full Article

In the wake of strong protests from jewellery manufacturers on the Excise duty hike on unbranded jewellery as announced in the Union Budget, the Finance Minister Pranab Mukherjee has convened a meeting of jewellery manufacturers from major cities in New Delhi on 6th of this month. Full Article

Honorable Finance Minister, Sh. Pranab Mukherjee will inaugurate the Direct Taxes Regional Training Institute complex, Bangalore on 8th April 2012. Full Article

Finance Minister Pranab Mukherjee today said that persons investing in stock markets through participatory notes, P-Notes, will not have to pay taxes in India. The assurance pushed up the stock market today. He told reporters in New Delhi that the Minister said, the income tax department would examine the tax liability of the FIIs. Full Article

Amidst fears that FIIs may be taxed for short-term capital gains in stock markets, the government today said it will examine and modify the General Anti Avoidance Rules (GAAR) if required. Full Article