Jaitley had invited Russian firms to come forward with proposals for technology transfer to Indian companies and facilitate joint manufacturing of advanced military platforms.
Announcing that the switchover to the good and services tax (GST) will kick in at the stroke of mid-night, Finance Minister Arun Jaitley said the hour-long function will mirror the contribution made by different political parties and states to the revolutionary new tax regime.
Besides NPA resolution and bank finances, the meeting also featured the government's financial inclusion schemes.
The meeting assumes significance as it will be the first after promulgation of the ordinance amending the Banking Regulation Act, 1949, last month.
In a letter to the presidents of various political parties, Jaitley thanked them for their cooperation and contribution in making the GST a reality.
In a terse one-line statement, the Reserve Bank of India (RBI) Governor Urjit Patel today sent out a message that can be seen as underscoring the importance of the central bank’s autonomy.
India lost the tag of the fastest growing economy to China in the March quarter with a GDP growth of 6.1 per cent, which pulled down the 2016-17 expansion to 7.1 per cent.
"This year, before the budget was being prepared, the prime minister had told us to take some steps in the budget to cleanse the political parties, and out of that the electoral bonds scheme was born," he said addressing BJP workers here.
Jaitley had filed the criminal defamation complaint alleging that the accused, including Ashutosh, Kumar Vishwas, Sanjay Singh, Raghav Chaddha and Deepak Bajpai apart from Kejriwal, had defamed him in a controversy regarding Delhi and District Cricket Association (DDCA) when he headed it for over a decade.
In November 2016, the government junked 500 and 1,000 rupee notes, which made up 86.4 per cent of the country's circulating currency.
"But once the health of the banks themselves improve, we have also announced that the government will be willing to bring down its own equity in the banks to 52 per cent and that can be used for banks' recapitalisation," he said at a CII-Kotak investor roundtable here.
Jaitley also said he expects India to achieve economic growth of 7 percent or above despite any possible negative impact on private consumption from the demonetisation of high-value currency.
Jaitley, who also holds the additional charge of defence minister, is however scheduled to travel to Tokyo this weekend seeking Japanese investment into India. He was scheduled to attend ADB's 50th annual meeting here from May 4-7.
The Securities and Exchange Board of India (Sebi) has operationalised the portal for intermediaries to submit all the registration applications online.
Appreciating the rural masses for being flexible in adapting to technologies, the Finance Minister said, "One great advantage of this whole exercise (demonetisation) was the movement towards digitisation. And movement towards digitisation itself has created newer technologies, newer form of electronic modes of payments."
Speaking at the Council on Foreign Relations here, Jaitley termed the resolution of the Non-Performing Assets (NPAs) as the "one very big challenge" going forward and the government's "top priority" at the moment.
"With respect to any new requirements on visas, I'd have to check and see if that's been updated," he said, adding that under the current government, the US has been looking at ways to strengthen the processes like visa interview and admission processes in new ways.
The minister also said the scrapping of old Rs 500 and Rs 1,000 notes will increase tax compliance and reduce threat of counterfeit currency.
During the meeting here -- the first cabinet-level interaction between the two countries under the Trump administration -- Ross is believed to have said that US has started the process of reviewing H1B visas issues and no decision has been taken on it yet, sources said.
Revenue Secretary Hasmukh Adhia made a detailed presentation to the Council -- the supreme executive organ headed by Prime Minister Narendra Modi -- on how the Goods and Services Tax (GST) will be implemented and the challenges before it is rolled out.
Finance Minister Arun Jaitley today received a pat from President Pranab Mukherjee for completing the budget exercise by March 31 and not seeking a the Vote on Account, which happened for the first time in many years.
Of this amount, Rs 110 crore was seized by the IT Department, Rs 4.54 crore seized by ED, Rs 26.21 crore by the CBI and Rs 38 lakh by the DRI, Finance Minister Arun Jaitley said during Question Hour.
Replying to questions in the Lok Sabha, he said disclosing the recommendations of the committee and the prima facie view of the government on it at this stage would be unfair as it may amount to pre-judging the issue.