Government aiming to bring fiscal deficit down to 4 percentSeptember 23rd, 2009 KOLKATA - Finance Minister Pranab Mukherjee Wednesday said the government planned to scale down fiscal deficit to 4 percent by 2012. "We should try to bring down the fiscal deficit to 5 percent in 2011 and 4 percent by 2012," Mukherjee said in an address at the 155th annual general meeting of the Bengal Chamber of Commerce and Industry here.
Ministers, bureaucrats should travel in economy class: MukherjeeSeptember 11th, 2009 NEW DELHI - In a clear and firm message Union Finance Minister Pranab Mukherjee said on Friday that ministers and bureaucrats who are entitled to travel on state expenses should undertake domestic travel in economy class. Mukherjee said that they could fly in business class for international travel.
India moots tax reforms, Bill likely by end 2009August 13th, 2009 NEW DELHI - Finance Minister Pranab Mukherjee has said that India proposes to reform its archaic tax laws, phase out exemptions, simplify rules on corporate mergers and help improve compliance. "You will find all the direct tax laws, fringe benefit tax, income tax all these have been brought under one umbrella single direct tax code.
Fact sheet on the proposed new direct tax codeAugust 12th, 2009 NEW DELHI - The following are some salient features pertaining to the new Direct Tax Code proposed by the government, for which a draft and a discussion paper were released by Finance Minister Pranab Mukherjee Wednesday:
What does it seek: The Direct Tax Code will replace the existing Income Tax Act that was enacted in 1961, which had replaced an earlier legislation of 1922 enacted prior to the country's independence. When will it be introduced: The government intends to present the relevant bill during the winter session of parliament, after considering and incorporating, if seen fit, the opinions on its provisions from the public.
Finance Minister to release 'Direct Taxes Code' todayAugust 12th, 2009 NEW DELHI - Finance Minister Pranab Mukherjee will release the draft of the 'Direct Taxes Code' here today. It will be released in the presence of Union Home Minister P.
Senior citizen's income tax exemption limit increased by Rs.15,000July 6th, 2009 NEW DELHI - Finance Minister Pranab Mukherjee on Monday proposed an increase in the personal income tax exemption limits by Rs. 15,000 for senior citizens from Rs.
Tax reforms to be expedited, says MukherjeeJuly 6th, 2009 NEW DELHI - A new direct tax code will be introduced in 45 days and bring changes in the indirect tax structures, Finance Minister Pranab Mukherjee Monday said while presenting the union budget for 2009-10 in the Lok Sabha Monday.
Reiterating his commitment to expedite tax reforms, Mukherjee also said he would aim to introduce the goods and services tax by the initial deadline of April 10, 2010.
Government changes fertiliser subsidy methodJuly 6th, 2009 NEW DELHI - India will change the method of subsidising fertiliser prices by shifting to a "nutrient based subsidy regime" from a "product pricing regime", Finance Minister Pranab Mukherjee announced while presenting the 2009-10 budget in parliament Monday. So far fertiliser manufacturers have been subsidised so that they sell to farmers at low prices.
Simple tax regime in four years promisedJuly 6th, 2009 NEW DELHI - Finance Minister Pranab Mukherjee Monday promised to revamp the country's tax structure, with a simple and exemption-free regime in four years.
This is in line with the government's stated agenda of a new income tax code to simplify the tax structure that is replete with exemptions and complex provisions.
Budget tops Mukherjee's agenda at meeting with aides (Lead)May 25th, 2009 NEW DELHI - Finance Minister Pranab Mukherjee Monday formally assumed charge of his portfolio and "immediately" convened a meeting with officials to discuss budget issues, which a ministry official said would be finalised before July-end. "There was a closed room meeting with the officials of both the CBDT (Central Board of Direct Taxes) and the finance ministry," the official said requesting anonymity.
Pranab Mukherjee assumes charge as Finance MinisterMay 25th, 2009 NEW DELHI -; Pranab Mukherjee on Monday assumed his charge as the new Finance Minister. Mukherjee was welcomed by the Finance Secretary, Revenue Secretary, Expenditure Secretary, Disinvestment Secretary, CEA, Chairman, CBDT and Chairman, CBEC.
Mamata can be next chief minister of West Bengal: PranabMay 19th, 2009 NEW DELHI - After the Congress-Trinamool alliance's body blow to West Bengal's ruling Left in the hustings, Congress leader Pranab Mukherjee Tuesday said that Trinamool Congress supreme Mamata Banerjee could be the next chief minister of the state. In an interview to NDTV news channel, Mukherjee, the West Bengal state Congress president, said it was possible that Banerjee would emerge as the next head of the state after the electoral rout of the Left after three decades.
Pranab Mukherjee says UPA is not falling apartApril 5th, 2009 NEW DELHI - External Affairs Minister Pranab Mukherjee has rejected BJP claims that the United Progressive Alliance is falling apart. On Sunday, Mukherjee told reporters in New Delhi that all the constituents of the alliance except PMK are still with the UPA.
Markets plummet as Mukherjee makes interim budget speechFebruary 15th, 2009 MUMBAI - Indian equities slipped further Monday as acting finance minister Pranab Mukherjee delivered his interim budget speech. In the first part of his speech, Mukherjee signalled that the future economic situation looked grim.
PM must have had some stress: MukherjeeJanuary 24th, 2009 NEW DELHI - Prime Minister Manmohan Singh, who has undergone a successful heart surgery, must have had 'some stress', External Affairs Minister Pranab Mukherjee has said. 'Some stress must have been there but I really don't know how this has happened,' Mukherjee told Shekhar Gupta in an interview for NDTV to be telecast Jan 31.
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