The annual revenue implication of the rate cuts would be Rs 5,500 crore, Finance Minister Arun Jaitley said.
The cost of printing currency notes escalated to Rs 7,965 crore in 2016-17, the year when the government had banned the high-value 500 and 1,000 rupee bills, the government informed Parliament on Tuesday.
However, he questioned how a mere discussion on RBI's functioning could be considered "destruction" of an institution.
Nations across the world are now realising that increased trade helps not just the global economy but also its own economy, he said.
Jaitley's comments reflect a growing tension between the RBI and the government, days after the central bank Deputy Governor Viral Acharya made a bold pitch for autonomy and independence in the banking regulator's functioning.
Delivering the first Atal Bihari Vajpayee Memorial Lecture at the India Ideas Conclave in New Delhi he asked whether Indira Gandhi or Rajiv Gandhi have ever gone to a congregation where 'Bharat ke tukde honge' slogan was raised.
Jaitley further said that in mature democracies those who rely on falsehood are considered unfit for public life.
Speaking to the media, Goyal said India has already picked up almost 28 per cent - or $1.4 billion - AIIB's total lending’s, for seven projects in the country.
To pay for seeming bout of generosity towards poor, albeit with vote-banks in mind, the finance minister has mopped up huge sums through three or four simple steps, mostly aimed at the middle class.
Congratulating Finance Minister Arun Jaitley and his team, Modi said farmers, Dalits and tribal communities will gain from the budget.
The pollution has been a concurrent issue, especially during early winter months when the smog causes severe respiratory and skin diseases to people in the region.
The GST Council is expected to simplify the process of registration, returns filing and claiming input tax credit (ITC) under the new indirect tax regime, as per reports.
The minister, in a debate ‘short-term discussion on the state of economy’ in the Rajya Sabha, said the coming generations will remember this government for creating a ‘new economic history’ of the country.
According to AIBEA, at a time when people are already worried about their money in the banks, the government instead of assuring the people about safety has chosen to bring this FRDI Bill which deals with possible liquidation of banks.
India carried out key structural reforms like demonetisation and the GST at the right time and it will serve the country well in the days to come, Finance Minister Arun Jaitley today said.
Arun Jaitley today said JAM (Jan Dhan, Aadhaar and Mobile) trinity has ushered in a social revolution which will eventually bring all Indians into a common financial, economic and digital space, similar to how GST has created a unified market.
Finance Minister Arun Jaitley on Monday said that the states which are keen on farm loan waiver “must generate funds from their own resources”
Union Finance Minister Arun Jaitley today said that the twenty-first century will not only belong to Asia but also to Africa.
Debroy also suggested that exemptions on personal income tax should be removed to increase tax base from the current about 37 million (3.7 crore) in the country of 1.3 billion (130 crore) of people.
Finance Minister Arun Jaitley today said that the ties between India and the United States have become more “stronger” and “matured” over the last few decades.
Top News
Latest News
