Finance Ministry takes steps to cut fiscal deficit
Posted Date : 31-Oct-2014 , 10:18:29 am | Posted By CASANSAAR
The Narendra Modi government launched an austerity drive on Thursday to trim the fiscal deficit to 4.1 per cent of gross domestic product (GDP) in 2014-15 with a 10 per cent across-the-board cut in non-plan expenditure and barred senior officials from first-class air travel, foreign jaunts, holding ...
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Government Committed to Increase Savings Rate in the Country: Secretary, Financial Services
Posted Date : 30-Oct-2014 , 09:11:07 pm | Posted By CASANSAAR
National Savings Institute (NSI), Ministry of Finance, Government of India jointly celebrated here today the World Thrift Day, in collaboration with World Savings & Retail Banking Institute (WSBI), Brussels. In his message on this occasion, the Prime Minister Shri Narendra Modi said that “...
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Government approves Twenty (20) Proposals of Foreign Direct Investment amounting to Rs 988.3 Crore
Posted Date : 24-Oct-2014 , 07:58:58 pm | Posted By CASANSAAR
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on September 16, 2014, the Government has approved twenty (20) proposals of Foreign Direct Investment amounting to Rs. 988.3 crore approximately.
Details of Proposals considered in the Foreign Investment P...
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Arvind Subramanian to be India's next Chief Economic Advisor
Posted Date : 16-Oct-2014 , 10:57:18 pm | Posted By CASANSAAR
The Centre has appointed US-based economist Arvind Subramanian as India's next Chief Economic Advisor in the Finance Ministry.
This was a keenly awaited appointment of the new Modi Government that is facing the challenge of modest economic growth coupled with runaway inflation in recent yea...
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Rajiv Mehrishi Replaces Arvind Mayaram as Finance Secretary
Posted Date : 16-Oct-2014 , 05:39:02 pm | Posted By CASANSAAR
The Narendra Modi government has transferred the top civil servant at the finance ministry, Finance Secretary Arvind Mayaram, replacing him with Rajiv Mehrishi, the chief secretary of Rajasthan, a state that has pushed dramatic free market reforms in recent months.
Mr Mayaram's transfer was p...
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Govt to form joint venture of Maharatnas to revive sick PSU
Posted Date : 25-Sep-2014 , 09:49:09 pm | Posted By CASANSAAR
Heavy Industries and Public Enterprises Minister Anant Geete today said, a Joint Venture of Maharatnas will be formed to help revive sick Public Sector Undertakings. Addressing a Press conference in New Delhi this evening, Mr Geete said, out of 11 sick PSUs, process for reviving five has starte...
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CBI to probe former finance minister P Chidambaram’s FIPB approval
Posted Date : 19-Sep-2014 , 10:46:44 pm | Posted By CASANSAAR
The CBI will investigate the circumstances of the FIPB approval given by the then Finance Minister P Chidambaram in the Aircel-Maxis deal in 2006. The agency told a special court in its chargesheet in the case that Mauritius-based M/s Global Communication Services Holdi...
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Government Approves Fourteen (14) Proposals of Foreign Direct Investment (FDI) Amounting to about Rs. 1528.38 Crore
Posted Date : 06-Aug-2014 , 07:16:35 pm | Posted By CASANSAAR
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its 207th meeting held on 4th July, 2014, the Government has approved Fourteen (14) proposals of Foreign Direct Investment (FDI) amounting to Rs. 1528.38 crore approximately.
Deta...
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Govt clears 19 FDI proposals entailing Rs 2,327 cr investment
Posted Date : 17-Jul-2014 , 07:11:54 am | Posted By CASANSAAR
The government has cleared 19 foreign investment proposals, including that of Walt Disney Company and Reckitt Benckiser (India), entailing total investment of Rs 2,326.72 crore.
"Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on June 11, 2014, Governme...
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FinMin proposes 49% FDI in insurance sector, caps voting right of overseas partner to 26%
Posted Date : 08-Jul-2014 , 08:07:35 am | Posted By CASANSAAR
The government has set the ball rolling for an increase in foreign direct investment limit in the insurance sector to 49 per cent from the current 26 per cent albeit with a rider that voting right of the overseas partner will be restricted at 26 per cent.
It has also proposed that majority ...
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Pre-Budget Parleys Begin Today
Posted Date : 05-Jun-2014 , 06:50:09 am | Posted By CASANSAAR
Finance Minister Arun Jaitley, who is expected to present his maiden Budget in the first week of July, is all set to begin pre-budget consultations with various stakeholders beginning Thursday.
To begin with, Jaitley will hold consultations with the farm sector, which is facing uncertaintie...
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Govt initiates exercise to raise FDI in defence sector to 100 pct
Posted Date : 30-May-2014 , 08:29:06 am | Posted By CASANSAAR
In a major policy initiative, the Narendra Modi government is proposing to raise FDI in defence sector to 100 per cent through the approval route.
"The Commerce and Industry ministry has circulated a Cabinet note for inter-ministerial consultation," sources said.
The proposal to ra...
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Finance ministry wants public banks to report wilful defaults straight to Sebi
Posted Date : 28-Apr-2014 , 08:11:43 am | Posted By CASANSAAR
The finance ministry wants public sector banks (PSB) to send information on listed firms declared as wilful defaulters directly to Sebi instead of routing the same through the RBI, which is the present norm. Necessary changes in the relevant laws are being initiated.
The idea, official sour...
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SEBI tightens norms to check money laundering, terror funding
Posted Date : 13-Mar-2014 , 08:33:39 am | Posted By CASANSAAR
Watchdog SEBI Wednesday tightened norms aimed at countering money laundering and terror financing through the capital markets and asked market entities to conduct detailed risk assessment of their clients, including those linked to countries facing international sanctions.
The market intermediaries...
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Revision of Interest Rates for Small Savings Schemes for the Financial Year 2014-15 Announced
Posted Date : 05-Mar-2014 , 08:22:44 am | Posted By CASANSAAR
Various decisions taken by the Government of India on the recommendations of the Shyamala Gopinath Committee for Comprehensive Review of National Small Savings Fund (NSSF), were communicated to all concerned by the Government through its Office Memorandum dated 11th November, 2011.
&nb...
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GlaxoSmithKline's Rs 6,400 cr FDI proposal cleared by govt
Posted Date : 20-Feb-2014 , 01:23:23 pm | Posted By CASANSAAR
The government today cleared Rs 6,400 crore FDI proposal of global healthcare company GlaxoSmithKline to acquire additional 24.33 per cent stake in its India arm.
The Cabinet Committee on Economic Affairs (CCEA) has approved the proposal of GlaxoSmithKline Pte Limited, Singapore for acquisi...
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Government Approves Five Proposals of Foreign Direct Investment (FDI) Amounting to About Rs. 1133.41 Crore
Posted Date : 15-Jan-2014 , 07:48:11 pm | Posted By CASANSAAR
Based on the recommendations of Foreign Investment Promotion Board (FIPB) made in its meeting held on December 30, 2013, the Government of India has approved five (05) proposals of Foreign Direct Investment (FDI) amounting to Rs. 1133.41 crore approximately.
D...
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Government Approves Two Proposals of Foreign Direct Investment (FDI) Amounting to About Rs. 97.85 Crore
Posted Date : 12-Dec-2013 , 05:49:14 pm | Posted By CASANSAAR
Further to para 7 of the Press Release dated October 25, 2013, wherein it was stated that decision about the five (5) proposals will be communicated separately, the Government of India has approved two (2) proposals of Foreign Direct Investment (FDI) amounting to Rs. 97.85 crore.
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Government Approves one Proposal of Foreign Direct Investment (FDI) Amounting to About Rs. 31.92 Crore
Posted Date : 10-Dec-2013 , 07:08:55 pm | Posted By CASANSAAR
Further to para 7 of the Press Release dated September 27, 2013, wherein it was stated that decision of the one proposal will be communicated separately, the Government of India has approved the proposal of Foreign DirectInvestment(FDI) amounting to Rs. 31.92 crore appr...
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Unlisted companies get nod to raise funds abroad
Posted Date : 09-Dec-2013 , 08:52:02 am | Posted By CASANSAAR
Unlisted firms can now raise capital abroad without the requirement of prior listing in India initially for a period of two years after the department of industrial policy and promotion (DIPP) on Friday amended the existing policy on the issue of shares.
The DIPP modified the FDI policy all...
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Finance professionals in India frustrated by lack of investment: Survey
Posted Date : 01-Dec-2013 , 08:44:40 am | Posted By CASANSAAR
Indian finance professionals have witnessed more business opportunities over the past six months but are frustrated due to their inability to use such situations, a survey says.
According to the latest global economic conditions survey, undertaken by the Association of Ch...
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Govt to come-up with inflation based certificate to neutralize impact of inflation
Posted Date : 31-Oct-2013 , 08:46:15 am | Posted By CASANSAAR
The government will soon introduce inflation-based certificate to provide some cover to households from impact of inflation, a senior Finance Ministryofficial has said. "Government of India is very soon coming-up with inflation based certificate which is aimed at neutra...
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RIL first private company to earn over Rs 1 lakh crore in a quarter
Posted Date : 15-Oct-2013 , 08:17:16 am | Posted By CASANSAAR
The Mukesh Ambani-led Reliance Industries (RIL) on Monday became the first private sector firm to report revenues exceeding Rs 1 lakh crore in a quarter, joining its public sector peer Indian Oil Corporation ( IOC) which is the only other Indian company with the distinction ...
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Government Approves Fifteen (15) Proposals of Foreign Direct Investment Amounting to About Rs. 2000.49 Crore
Posted Date : 27-Sep-2013 , 06:33:34 pm | Posted By CASANSAAR
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on August 27, 2013, the Central Government has approved 15 proposals of Foreign Direct Investment (FDI) amounting to Rs. 2000.49 crore approximately.
In addition, two proposals viz., M/s...
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FIIS allowed to invest 90% directly in Govt Debt
Posted Date : 14-Sep-2013 , 06:59:13 pm | Posted By CASANSAAR
Market regulator SEBI today allowed foreign investors to invest directly in the debt market, by doing way with the auction process.In a circular Securities and Exchange Board of India said that “it has been decided that FIIs/QFIs can now invest in government debt without purchasing debt limits...
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India has lost confidence of the world: Ratan Tata
Posted Date : 28-Aug-2013 , 08:23:43 pm | Posted By CASANSAAR
With the economy in distress, leading industrialist Ratan Tata has said India has lost the confidence of the world and the government has been slow to recognise it.
He also said the government has “swayed” under the influence of vested interests in private sector and policies ha...
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Cabinet panel approves ‘dilution of safeguards’ for FDI in multibrand retail
Posted Date : 02-Aug-2013 , 07:04:00 am | Posted By CASANSAAR
The Cabinet Committee on Economic Affairs (CCEA) on Thursday approved “dilution” of certain safeguards including relaxing the 30 per cent sourcing norm and dropping the mandatory 50 per cent condition for backend infrastructure investment which were approved by Parliament while allowing ...
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Government Approves Eight (8) Proposals of Foreign Direct Investment Amounting to about Rs.1311.54 Crore
Posted Date : 03-Jul-2013 , 04:12:11 pm | Posted By CASANSAAR
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meetingheld on June 14, 2013, the Government of India has approved eight (8) Proposals of Foreign DirectInvestment amounting to Rs. 1311.54 ...
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Finance Ministry to notify Commodity Transaction Tax soon
Posted Date : 20-Jun-2013 , 05:47:37 am | Posted By CASANSAAR
Finance Ministry will soon notify implementation of Commodity Transaction Tax (CTT) which will be levied primarily on processed agricultural commodities, including sugar, soya oil and mentha oil. About 11 processed farm commodities would attract CTT, which will be levied at the r...
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Government Approves 1 Proposal of Foreign Direct Investment Amounting to About Rs.7.00 Crore
Posted Date : 19-Jun-2013 , 10:13:26 pm | Posted By CASANSAAR
Further to para 5 of the Press Release dated May 31, 2013, wherein it was stated that decision of the 2 (Two) proposals will be communicated separately, Government has approved 1 Proposal of Foreign Direct Investment amounting to Rs. 7.00 crore approximately.
...
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