Tag: Arun Jaitley
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India can become 5th largest economy next year: Jaitley
New Delhi : Buoyed by recent World Bank figures, Union Finance Minister Arun Jaitley has said India is likely to become the fifth largest economy next year, surpassing Great Britain, if the country continues its projected growth trajectory. The World Bank has forecast a growth rate of 7.3 per cent for India this year and…
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CEA Arvind Subramanian’s term won’t be extended on his own request: Jaitley
New Delhi : The Chief Economic Advisor (CEA), Arvind Subramanian’s term would not be extended any further as he wants to go back to the US due to family commitments, Finance Minister Arun Jaitley said in a Facebook post on Wednesday. Subramanian had joined as the CEA on October 16, 2014 for a period of…
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New ordinance will eliminate ‘fly by night’ operators, formalise real estate: Jaitley
New Delhi : Union Minister Arun Jaitley on Friday said the new ordinance amending the Insolvency and Bankruptcy Code (IBC) to treat home buyers as financial creditors will eliminate “fly by night” operators and will force the real estate industry to eventually formalise itself. Listed as “minister without portfolio” in the Prime Minister’s official website,…
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Rathore replaces Irani in I&B, Piyush Goyal to look after Jaitley’s portfolios
New Delhi : Prime Minister Narendra Modi on Monday effected a reshuffle in his Cabinet by replacing Smriti Irani as Information and Broadcasting Minister with Rajyavardhan Singh Rathore, who was a Minister of State in the ministry. In other changes, portfolios of Finance and Corporate Affairs Minister Arun Jaitley, who underwent kidney transplant on Monday,…
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Industry has to introspect on doing ethical business: Jaitley
New Delhi : In light of the Rs 11,300 crore Punjab National Bank (PNB) scam allegedly involving diamantaire Nirav Modi, Union Finance Minister Arun Jaitley said on Saturday that the discourse needed to move on from ease of doing business to that of Indian industry’s responsibility to become ethical in the way it does business.…
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Bank recapitalisation will boost lending: Arun Jaitley
New Delhi : Finance Minister Arun Jaitley on Saturday said the government’s move to recapitalise public sector banks (PSB) would improve their lending capacity. “I think the indications are that it’s (credit offtake) already happening and that seems to be good sign and now with the recapitalisation of the banks, the capacity itself to lend…
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Increased budget outlay on rural economy will generate more demand, say FMCG players
By Porisma P. Gogoi, New Delhi : The government’s move to increase expenditure on food processing, infrastructure, healthcare and rural economy will generate more demand for the fast moving consumer goods (FMCG) sector, said industry players. “The country has been through two muted years of growth after economic reforms like demonetisation and GST (Goods and…
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FM needs to hear all sides before acting against cryptos
By Rohan Juneja & Vatsal Srivastava, Nothing is more powerful than an idea whose time has come. With the total market capitalisation of the cryptocurrency universe at more than $500 billion, many are wondering whether these digital currencies represent that big idea. Non-believers in cryptocurrencies have a standard answer: Blockchain is the big idea. Digital…
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Meghalaya CM thanks Modi for replicating state’s health insurance scheme
Shillong : Meghalaya Chief Minister Mukul Sangma on Thursday thanked Prime Minister Narendra Modi for replicating the Megha Health Insurance Scheme, one of the flagship programme launched by the state’s Congress government, on the national level. In his Budget 2018-19 speech on Thursday, Finance Minister Arun Jaitley announced a flagship National Health Protection Scheme under…