finance minister

The Union Finance Minister Shri Pranab Mukherjee said that RBI is closely monitoring the current rupee situation and he is sure that RBI will do the needful, as required. The Finance Minister further said that he would like to add that despite global uncertainty, FII Investments have been in the positive territory in October (USD 634 million) and November as of yesterday (USD 213 million). Full Article

Finance Minister Pranab Mukherjee said, We are not going to reopen cases from 1962. Please remember this is the legal requirement — when we interpret something and if legislation says this is my intention, it goes back to the date it was originally enacted. But, there is also another provision in the Income Tax Act that says we cannot reopen cases beyond six years. We are not going to reopen cases from 1962. Full Article

Last year I provided relief to individual taxpayers by enhancing the exemption limit as a move towards DTC rates. Although DTC will not be effective from this year, I propose to introduce the DTC rates for personal income tax. I propose to enhance the exemption limit for the general category of individual taxpayers from `1,80,000 to `2,00,000. Full Article

The Union Finance Minister Shri Pranab Mukherjee said that setting up of Infrastructure Debt Fund through public private partnership would meet the long term need of infrastructure sector funding. The Finance Minister Shri Mukherjee said that he is confident that the establishment of Infrastructure Debt Fund through PPP model would be a guiding principle for our future activities. The Finance Minister said that funs to the tune of 1Trillion US$ would be required for Infr.. Full Article

The Union Finance Minister Shri Pranab Mukherjee said that Aadhaar-Enabled E-payment system would help not only in ensuring the timely payments directly to the intended beneficiaries but would also help in reducing the time taken, transaction costs and the leakages among others. The Finance Minister said that this would also help in bringing transparency in the system and reducing avoidable delays Full Article

Finance Minister Pranab Mukherjee today expressed hope that indirect tax collection target of Rs 3.92 lakh crore for the current fiscal will be met despite the economic slowdown. Full Article

Inauguration of New Office Buildings ‘Aayakar Bhawan Annexe’, Durgapur and ‘Aayakar Bhawan Poorva’ Kolkata by Shri Pranab Mukherjee, Honorable Finance Minister, Govt. of India on 13.01.2012 and 14.01.2012. Shri Pranab Mukherjee, Honorable Finance Minister, Govt. of India inaugurated the new Office Building ‘Aayakar Bhawan Annexe’ at Durgapur, West Bengal on 13.01.2012 in the august presence of Shri S. C. Jaini, Member, CBDT and Shri D. C. Pant, Chief Commissi.. Full Article

The Union Finance Minister Shri Pranab Mukherjee said that the main reason for decline in the GDP growth is slowdown in industrial growth, in particular in investment growth. The Finance Minister said that the negative growth in mining sector along with slowdown in construction sector has also contributed to the decline in GDP growth. The Finance Minister Shri Mukherjee was reacting to the figures of advance estimates of GDP for the year 2011-12 which were released here .. Full Article