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Union Finance Minister, Shri Pranab Mukherjee has stressed on the need to sustain and pursue the efforts currently underway to reform the international and national policy regimes for better managing the forces of globalisation, in serving the collective well-being of people. He was speaking after inaugurating the National Banking Conclave organised by ASSOCHAM on the theme ‘Challenges and opportunities in a Trillion Dollar Economy’, here today.
The Central Bureau of Investigation has arrested a private person in Jaipur(Rajasthan) for demanding and accepting illegal gratification of Rs.Seven Lakhs from the complainant who was facing a CBI trial case. It was alleged that the accused private person had demanded illegal gratification from the complainant on behalf of an officer who was involved in investigation of the CBI trap case, the complainant was facing.
The Central Bureau of Investigation has arrested a Divisional Engineer of Indian Railway Service-1995 batch posted at Bhusawal Division (Maharashtra) for demanding and accepting bribe of Rs. 50,000/- (Rs. Fifty thousand only) from the complainant.
Union Finance Minister Shri Pranab Mukherjee has said that by announcing an increase of 25 basis points in repo rate, from the existing 7.25 per cent to 7.50 per cent, RBI has sought to maintain an interest rate environment that moderates inflation and checks inflationary expectations. The Finance Minister was reacting to the Reserve Bank of India’s Monetary Policy announcement made today.
Union Finance Minister Shri Pranab Mukherjee has said that the process of disinvestment of Central Public Sector Enterprises (CPSEs) through public offerings is technical in nature and requires knowledge of not only the rules and regulations laid down by SEBI and other concerned bodies but also the various processes followed by Government. He was releasing the “Handbook on Disinvestment through Public Offerings” prepared by the Department of Disinvestment of the Ministry of Finance, here today.
The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) (collectively, the Boards) have elected to formally expose their joint revenue recognition proposal for a second time because they have made significant changes to the model they proposed last year. Their decision will delay the project, possibly until September 2012, according to the staff paper presented to the Boards, but will give constituents a chance to comment on the changes.
With the losses of oil firms mounting with each passing day, Oil Minister S Jaipal Reddy today met Prime Minister Manmohan Singh to push for an early decision on raising diesel and domestic LPG prices. An Empowered Group of Ministers (EGoM) headed by Finance Minister Pranab Mukherjee, which decides on revising rates of the sensitive products, has not met since June last year even though crude oil prices have spiralled upward by about 50 per cent.
The Union Finance Minister Shri Pranab Mukherjee said that core inflation in May,2011 is higher at 8.71 per cent in comparison to 7.93 per cent in April,2011 and 10.34 per cent in March 2011. Finance Minister Shri Mukherjee said that we would keep a close watch on developments, both domestic as well as international, in the coming months and make appropriate adjustments as we go along.
Various taxes relating to real estate should be rationalised for affordable housing projects in order to tackle the rapid pace of urbanisation in the Indian cities, according to a survey conducted by accountancy firm Grant Thornton and CII. In view of the phenomenal pace of urbanisation, residential real estate ought to be made affordable to accommodate the ever-increasing immigration into our urban centres, Grant Thornton India National Managing Partner Vishesh C Chandiok said in a statement.
Trade Notice No. 10 – Reference is invited to Trade No.9 dated 13.5.2011 on the above subject. The Second Meeting of the ‘Committee to review the Scheme of the deemed export’ was held on 3rd June, 2011. The Committee in this meeting has decided to seek the views of all stakeholders by giving them another opportunity of submitting suggestions in 15 days. Thus, those interested in sending their suggestions may do so by sending an e-mail to [email protected] with a copy to [email protected] within 15 days from the date of this Trade Notice. It would be appreciated if contact details are also mentioned in the e-mail.
