P. Chidambaram

Finance minister P Chidambaram stated, in an address to mediapersons, that the government is keen on boosting the iron-ore mining sector and reiterated that the government had no intent to control capital.

CNBC-TV18 learns from government sources that Prime Minister Manmohan Singh, for the time being, has put an end to the hope of Direct Taxes Code getting approved.

Finance Minister Palaniappan Chidambaram said on Friday that the sharp falls in domestic markets that sent the rupee to a record low were a reaction to global developments and he expected calm to return.

The Foreign Investment Promotion Board (FIPB) had kept its approval on the deal in abeyance till there was clarity on brownfield FDI norms.

Replying to a debate on the state of economy in the Rajya Sabha, he made a strong case for more foreign investment to bridge the CAD, which had touched the historic high of 4.8 per cent of the GDP in 2012-13.

Insurance Regulatory Development Authority (IRDA) formulated new set of rules for banks to act as insurance brokers.

Finance Minister P Chidambaram also said the government will take steps to curb imports of gold, silver, oil and luxury goods.

In a stern warning to service tax defaulters, finance minister P Chidambaram on Thursday asked them to take advantage of the voluntary compliance scheme and come clean or face punishment.

Indian markets have been resilient on the back of global liquidity conditions, so long-term investors may still find the ongoing correction attractive, says Rajeev Malik of CLSA.

Shereen Bhan, Managing Editor, CNBC-TV18 evaluates Chidambaram‘s performance over the past year and challenges he would face going ahead with a panel consisting A K Bhattacharya of Business Standard, Gaurav Kapur, Senior Economist at RBS and R Jagannathan, Editor of Firstpost.

Finance minister P Chidambaram, in his address to mediapersons to mark the end of one year at the helm of the ministry of finance, announced that the fiscal deficit will be contained and that 6-percent growth was achievable.

A day ahead of RBI's monetary policy review, Finance Minister P Chidambaram today said the mandate of a central bank is not only to ensure price stability but also to promote growth and generate employment.

Finance minister P Chidambaram, in an interview to the national broadcaster, said that the government will focus on projects where the implementation of DBT is relatively easier.

After the finance minister, now the comptroller and auditor general wants the oil marketing companies to switch over to export parity pricing of petro products, reports CNBC-TV18‘s Nayantara Rai.

Transfer pricing adjustments have soard across the cities in India with Mumbai leading the pack. Close to Rs 70,000 crore was collected in 2012-2013. A lot of multinational companies (MNCs) have received notices from the income tax department.

Prime Minister Manmohan Singh , speaking at an industry event, said the UPA government would unveil more reforms for foreign direct investment (FDI), but he gave no details.

"We are targeting 12 lakh non-filers and stop-filers of service tax," he told reporters after inaugurating the 28th conference of chief commissioners and director generals of Central Board of Excise and Customs (CBEC).

Finance minister P Chidambaram listed out a series of steps taken by his government hoped parliament would approve the real estate regulator and land acquisition bills in its monsoon session, which is due to begin in the first week of August.

RBI Governor Subbarao had to cancel his visit to a Mumbai College after he was urgently called for a meeting with the finance minister and prime minister.

Flagging India's concern over the immigration reform bill with US authorities, Finance Minister P Chidambaram has said the visa restrictions proposed on knowledge workers amount to non-tariff barriers.