The finance minister championed a rapid narrowing of the exploding fiscal deficit, in particular, by successfully introducing a regular monthly increase in diesel prices. Assessments of the United Progressive Alliance’s (UPA’s) performance in its two terms are flying thick and fast. It is important to evaluate, in particular, P Chidambaram’s six and a half years as finance minister. In a recent public appearance, Mr Chidambaram was quite candid in saying that UPA-II ... Rediff.com, 2 months ago
Poll code helps FM better fiscal deficit target - Rediff.com, 2 months ago
The veshti controversy in Tamil Nadu is not about the dress -- but a dress-code, which seems permissible in private homes and offices, but not in private clubs that are open only to well-heeled, and well-paying private members, observes N Sathiya Moorthy. At the height of the post-poll scenario in 1996, then Union Finance Minister P Chidambaram declared in Chennai, thus: “Two veshti (dhoti)-clad Tamils would decide the fate of the nation.” Subsequent developments proved Chidambaram ...Rediff.com, 2 weeks ago
The Centre’s fiscal deficit for the first two months of this financial year has already touched about half the amount estimated for all of 2014-15 in the interim Budget. In the run-up to the Union Budget, expected to be presented on July 10, this paints a grim picture for Finance Minister Arun Jaitley. In April and May, the fiscal deficit, or the government’s expenditure in excess of its receipts, accounted for 45.6 per cent of the interim Budget estimate for the full year. By ...Rediff.com, 1 month ago
The BJP would seem just the sort of party that would embrace Aadhaar. Every other page of its manifesto makes some reference to changing governance in this country. So why is there no discernible difference in the positions of the BJP-led government towards Aadhaar and the dysfunctional approach of Chidambaram under the United Progressive Alliance, asks Rahul Jacob. There has been a recent surge in very satisfied customers at Food World supermarkets in Bangalore who praise the staff ...Rediff.com, 1 month ago
In his attempt to revive a beleaguered Congress, Rahul Gandhi is trying to bring in new leadership in the form of Rajeev Gowda and B K Hari Prasad, whose names have been nominated for the Rajya Sabha, says Renu Mittal. He may have led the Congress to its worst ever defeat in the recently-concluded polls, but it appears that Rahul Gandhi is still calling the shots within the party. With the approval of his mother, Rahul is continuing his trend of bringing younger leaders and removing those over ...Rediff.com, 1 month ago
The finance ministry has called a meeting of the chiefs of public-sector banks (PSB) and financial institutions to review their performance in FY14 on May 13 - just three days before the counting of votes for the Lok Sabha elections. This will be the last performance review of PSBs under the Congress-led the United Progressive Alliance government. Many large public-sector banks including State bank of India, Punjab National Bank and Bank of India, are yet to declare results. Notably, ...Rediff.com, 2 months ago
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