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Pakistan, India have shared history: India FinMin

India’s finance minister, Arun Jaitley, and Pakistan’s finance minister, Muhammad Ishaq Dar, talk to CNBC about their countries' relationship with one another, and what issues need fixing.

Source: CNBC.com

Bill to reform how India sets monetary policy moves closer to passage

NEW DELHI, May 5- India moved closer to changing how interest rates are set and monetary policy conducted as the lower house of parliament on Thursday approved legislation giving the central bank a mandate to target inflation. At present, the Reserve Bank of India governor is the sole authority to decide monetary policy. Finance Minister Arun Jaitley told...

Source: Reuters

India's falling food prices seen easing retail inflation in Feb

Analysts say Raghuram Rajan, Governor of the Reserve Bank of India, could soften monetary stance after Finance Minister Arun Jaitley stuck to a fiscal deficit target of 3.5 percent of GDP for next fiscal year in his third budget last month. "The recent budget delivered on the targets and hence opens the door for a rate cut in April before entering into a prolonged...

Source: Reuters

India's Jaitley signals rollback of pension tax plan after backlash

*India budget proposed to partially tax social security fund. NEW DELHI, March 2- Indian Finance Minister Arun Jaitley signaled on Wednesday he would roll back a controversial budget proposal to tax pension withdrawals by private sector employees after a backlash from salaried workers. Jaitley's pensions tax plan has sparked fury among India's small but...

Source: Reuters

RPT-India's jewellers to strike in protest over gold tax

MUMBAI, Feb 29- Indian jewellers will go on indefinite strike from Tuesday in protest over the reintroduction after four years of a sales tax on gold jewellery, their trade body said. Finance Minister Arun Jaitley announced an excise duty of 1 percent on gold and diamond jewellery on Monday. We are urging the government to roll back excise duty, " Ketan Shroff, a...

Source: Reuters

India's jewelers to strike in protest over gold tax

MUMBAI, Feb 29- Indian jewelers will go on indefinite strike from Tuesday in protest over the reintroduction after four years of a sales tax on gold jewelry, their trade body said. Finance Minister Arun Jaitley announced an excise duty of 1 percent on gold and diamond jewelry on Monday. We are urging the government to roll back excise duty, " Ketan Shroff, a spokesman...

Source: Reuters

India slaps levy on new car sales in fight against pollution and congestion

NEW DELHI, Feb 29- India introduced an additional' green' tax on car sales on Monday, aimed at helping fight high levels of air pollution and congestion but hitting car makers that fear this could stall a fragile recovery in the market for their products. In his annual union budget, Finance Minister Arun Jaitley imposed a sales levy of up to 4 percent on new passenger...

Source: Reuters

India skimps on bank bailout, but stocks buoyed by hopes for more cash

*IDBI Bank jumps as govt says would consider ceding control. MUMBAI, Feb 29- India faced criticism of skimping on efforts to bail out ailing state banks in the annual budget on Monday, but sparked a big rally in the shares of one state lender, IDBI Bank, by saying it would be ready to cede majority control. Finance Ministry Arun Jaitley, in his budget speech, stuck to...

Source: Reuters

India's Jaitley unveils pro-poor budget, pledges reforms

Indian Finance Minister Arun Jaitley unveiled a budget for the poor on Monday, announcing new rural aid and health programs in a strategy shift.

Source: Reuters

UPDATE 1-India's Jaitley unveils pro-poor budget, pledges reforms

NEW DELHI, Feb 29- Indian Finance Minister Arun Jaitley unveiled a budget for the poor on Monday, announcing new rural aid and health programmes in a strategy shift that could boost his ruling party in coming state elections. Presenting his third budget, Jaitley described Asia's third-largest economy as a bright spot in a gloomy global landscape but said the...

Source: Reuters