Arun Jaitley

Jaitley to address Odisha's largest ever investors' meet today

Finance Minister Arun Jaitley

Bhubaneswar (Odisha) [India], Dec. 1 : Finance Minister Arun Jaitley will on Thursday address a seminar on 'Indian Economy: The New Normal' at the largest ever investors' meet, which aims to showcase the state as a favoured investment destination for both metal and non-metal industries.

The largest ever investors' meet, 'Make in Odisha' conclave, was inaugurated by Chief Minister Naveen Patnaik yesterday.

As Bhubaneswar tops among the list of smart city programme, the state government also looks for international partners to execute smart city projects.

Odisha aims to attract investment worth one lakh crore rupees through the three-day event, which ends on Friday.

More than 100 companies and a thousand delegates are taking part in the first edition of the conclave. (ANI)

Jaitley to inaugurate two-day Economic Editors' Conference

Jaitley to inaugurate two-day Economic Editors' Conference

New Delhi [India], Nov. 10 : Union Finance Minister Arun Jaitley will inaugurate the two-day Economic Editors' Conference-2016 here on Thursday.

The Press Information Bureau (PIB) in collaboration with the Ministry of Finance is organising the two-day Economic Editors' Conference-2016 on November 10 and 11.

The main objective of holding the national economic editors conference is to apprise the media about the major policy initiatives, achievements and the future road map of different participating departments/ministries of the government.

About 75 economic editors from different parts of the country, including from as far as Andaman and Nicobar in the south, Jammu and Kashmir in the north, Manipur in the east and Rajasthan in the west will be participating in this conference.

Direct payment transfers going to be rule in future, says Jaitley

New Delhi [India], Oct.2 : Union Finance Minister Arun Jaitley has made it clear that direct transfer payments is going to be the rule in future with tremendous success in targeting the beneficiaries without the problem of any leakages.

Delivering the keynote address at the conference on 'Digital Payments: Inclusion, Growth and Opportunities' organised by Observer Research Foundation in association with Better Than Cash Alliance in Delhi on Saturday.

Explaining the benefits of the Direct Benefit Transfer (DBT) which is helping the government to target the needy better, Jaitley said, "I am sure this going to be the rule in future."

Corporate tax to be reduced, GST to be implemented, says Jaitley

Corporate tax to be reduced, GST to be implemented, says Jaitley

New Delhi, Feb 28 : Finance Minister Arun Jaitley on Saturday said that to give a fillip to growth, investment and promotion of domestic manufacturing and 'Make in India', aiming at job creation, a series of measures are included in the budget.

He also said that a Tax 'pass through' is proposed to be allowed to both Category-I and Category-II Alternative Investment funds, so that tax is levied on investors in these funds and not on the funds per se.

"The measure will step-up the ability of these funds to mobilize higher resources and make higher investments in small and medium enterprises, infrastructure and social projects and provide the much required private equity to new ventures and start-ups," Jaitley said.

ICICI Bank CEO says Budget 2015 empowers entire India

ICICI Bank CEO says Budget 2015 empowers entire India

New Delhi, Feb 28 : ICICI Bank CEO and MD Chanda Kochhar on Saturday said the Union Budget 2015, which was introduced in the Parliament earlier in the day, will empower the entire country and touches the requirements of everyone.

"This budget empowers entire India, because it actually increases the devolution to the states, it actually talks about the youth of India by taking care of skilling and training requirements. It talks about entrepreneurship, innovation. It touches the requirements of everyone," Kochhar said.

"There is a clear focus on infrastructure. There is a clear acceptance of the fact that the initial push needs to be given by public investment. There is directional clarity about how to push infrastructure through various sectors," she added.

Bedi lauds Jaitley's defense on Land Acquisition Ordinance

Bedi lauds Jaitley's defense on Land Acquisition Ordinance

New Delhi, Feb 26 : Bharatiya Janata Party (BJP) leader and former IPS officer Kiran Bedi on Thursday showered praise on Finance Minister Arun Jaitley for his defense of the government's proposed Land Acquisition Ordinance, saying it will make one realise the falsehood been spread on the issue.

"Outstanding defense of Land Acquisition Ordinance in RSabha by @ arunjaitley Pl hear it. Will realise how much falsehood been spread. Tragic!" she tweeted.

Earlier in the day, Jaitley defended the government's proposed Land Acquisition Ordinance and accused the Congress of creating an environment in which the words 'infrastructure and industry' become 'bad words'.

States should use extra funds to develop productive assets: Jaitley

States should use extra funds to develop productive assets: Jaitley

New Delhi, Feb 24 : Stressing that states play an important role in the national economy, Union Finance Minister Arun Jaitley on Tuesday said that the 14th Finance Commission has increased the share of states in the divisible pool from 32 percent to 42 percent.

"If the Chief Ministers of states are being empowered with additional resources, then we have every reason to believe that this money will be well spent. The money will be well spent on poverty, infrastructure and therefore every spending within the territory of India, whether by the central or the state government is going to add to the growth process," Jaitley told the media.

Fertiliser industry approaches FM, seeks funds for subsidy payment

Fertiliser industry approaches FM, seeks funds for subsidy payment

New Delhi: Faced with liquidity crunch, fertiliser industry body FAI has written to Finance Minister Arun Jaitley seeking arrangement of funds to clear outstanding subsidy arrears, which are likely to cross Rs 40,000 crore by March- end.

In a letter to the Finance Minister, Fertilizer Association of India Director General Satish Chander has said that domestic urea manufacturers have not been paid since August, 2014. Therefore, a number of plants have resorted to shut down.

Chander also pointed that while domestic fertiliser manufacturers suffer "due to non-payment of dues for months together, upfront payments are made to foreign suppliers".

Customs duty on crude oil may be re-introduced

Customs duty on crude oil may be re-introduced

New Delhi: Finance Minister Arun Jaitley may look at reimposing five percent customs duty on crude oil imports to shore up revenues by USD 3 billion and create a level-playing field for domestic producers.

Presently, the government does not levy any import or customs duty on crude oil imports.

On the other hand, domestically produced crude oil attracts two percent central sales tax, something which imported oil is exempted from.

Given that there is no customs duty on imported crude oil, the CST levy places domestic producers at a significant disadvantage vis-a-vis imported crude, government sources said.

Thus, 20 percent of India's crude oil consumption that comes from domestic oil fields is taxed, whereas 80 percent of imported oil goes untaxed.

Jaitley emphasises need for archiving books in digital form

Jaitley emphasises need for archiving books in digital form

New Delhi, Feb 9 : Union Minister for Information and Broadcasting Arun Jaitley on Monday emphasised the need for the availability of books and other knowledge products in digital form, keeping in mind the advance of technology.

Speaking at the launch of the 'India: 2015 Reference Annual' at the national capital, Jaitley stated that the digital medium would provide enhanced accessibility and affordability of information to a wider audience.

The minister also started that the digitization of printed books carrying information on India's development will be a useful reference material for people worldwide, with e-books providing enhanced accessibility and affordability of facts to a wider audience

Sentiments to convert into investments soon: Jaitley

Davos - India is back in the reckoning at the global centre-stage and the huge build-up in positive sentiments among investors should soon start converting into real investment flows on the ground, Finance Minister Arun Jaitley has said.

With a packed agenda of meetings with investors and the government representatives from various countries here at WEF annual meeting, Jaitley said that many of these investors were looking at India either to invest or to expand their presence.

WEF Davos summit to start today; Jaitley, Goyal to attend

Davos - The World Economic Forum's five-day annual jamboree of the global elite will begin here Tuesday with presence of over 2,500 political and business leaders, including union ministers Arun Jaitley and Piyush Goyal as well as more than 100 industry leaders from India.

Other prominent Indian names would include Chief Economic Adviser Arvind Subramanian, as also Chief Ministers of Maharashtra and Andhra Pradesh -- Devendra Fadnavis and Chandrababu Naidu, respectively.

Jaitley hints at special steps to boost public spending

Arun JaitleyChennai: With one-and-a-half months left for the Budget, Finance Minister Arun Jaitley on Monday said the government will take "special steps" to boost public spending on infrastructure and initiate measures to rationalise subsidies.

"Even with the present constraint of fiscal deficit in revenue, it's a challenging and a difficult opportunity for us. But I think we have to take some special steps as far as public investments is concerned," he said.

The Minister underlined the need for stepping up public investments in infrastructure sector to boost economic growth.

Govt. has taken several initiatives in different sectors to ensure growth: Jaitley

Arun JaitleyNew Delhi, Jan.14 - Union Finance Minister Arun Jaitley has said that the NDA Government has taken several initiatives in different sectors in the last eight months to take the economy on a higher growth path.

He said that overall, with growth improving and inflation and external fronts under control, macro-economy stability has improved.

The Finance Minister said growth deceleration has bottomed out and the revival has started.

Jaitley said the economy registered a higher growth in the first half of the current financial year at 5.5 per cent as compared to last year's 4.9 per cent in the first half, and 4.7 per cent for the full financial year 2013-14.

Jaitley calls for reforms in banking sector

Arun JaitleyPune (Maharashtra), Jan 3 : Union Finance Minister Arun Jaitley on Saturday called for reforms in the banking sector while pitching for greater autonomy in government-controlled banks.

"Public sector banks and financial institutions have performed very important role. There is a need to get the best talent into the system. There is a need for far greater autonomy to them. And, we also need to understand the problems that these banks themselves are confronting," Jaitley told reporters on the sidelines of a meet with officials of public sector banks.

Economy to improve next fiscal after 2 years of slowdown: Arun Jaitley

New Delhi - Blaming high cost of capital for slowdown in manufacturing sector, Finance Minister Arun Jaitley Monday pitched for removal of entry barriers and a globally competitive taxation regime to attract investments and boost growth.

"We have to put house in order," Jaitley said, to accelerate the growth, as the manufacturing sector was not growing as per its potential and radical steps might be required to revive growth in this key segment, although as results will not be visible overnight.

Speaking at a day-long workshop on Make-in-India, he however said Indian economy may improve slightly after two years of slowdown and the next fiscal will be even better.

Wait till Dec 31: Jaitley on extension of auto excise sop

Arun JaitleyNew Delhi: As auto makers anxiously watch if reduced excise duty regime would be extended to next year, Finance Minister Arun Jaitley Wednesday said they would have to wait till December 31.

"Wait till December 31," Finance Minister Arun Jaitley said when asked if government would be extending the reduced excise duty incentive expiring on December 31.

The previous UPA government had cut excise duty on cars, SUVs and two-wheelers in the Interim Budget in February to help the industry tide over a demand slump.

Excise duty was reduced to 24 percent from 30 percent in the case of SUVs, 20 percent for mid-sized car from 24 percent and 24 percent for large cars from 27 percent.

Cabinet approves resumption of allocation of coal blocks

Arun JaitleyNew Delhi, Dec 24 : The Union Cabinet on Wednesday approved the resumption of the allocation of coal blocks, and also sent an ordinance on an amended insurance bill to President Pranab Mukherjee.

"The Cabinet took three important decisions today. With the repromulgation, the unfinished business of the allocation of coal blocks will resume again. The guidelines have been approved for the methodology of how coal blocks will be allocated to the power and other core sectors,"Finance Minister Arun Jaitley told the media here.

Centre assures to compensate states for revenue loss in GST

Arun JaitleyNew Delhi, Dec 19 : Union Finance Minister Arun Jaitley on Friday said the Centre has given assurance to the states that they would be compensated for any revenue loss post the implementation of the Goods and Services Tax (GST).

"The Centre has given assurance to the states that they will be compensated for any loss of revenues following the implementation of the GST," Jaitley told a press conference here.

Jaitley says arrogant opposition not letting Rajya Sabha function

Arun JaitleyNew Delhi, Dec 18 : Union Finance Minister Arun Jaitley on Thursday said that the Rajya Sabha is not being able to function due to the arrogance of the opposition parties.

"The government has no intention of being arrogant ; we want this house to function. The fact is that one house is functioning properly and the other is not allowed to function, means it's arrogance of numbers and not the government," said Jaitley.

Earlier on Thursday, the opposition had stalled proceedings in the Rajya Sabha over a repeated demand that Prime Minister Modi be called to the Upper House to make a statement on the conversion row that has hogged national headlines for the past few days.

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