Tag: P Chidambaram

Finance Ministry to Provide Boost to Real Estate Sector

Real estate India will gain a boost from the Finance Ministry of India. With the plan to provide bank loans to the real estate players with halted project the Finance Ministry aims to lift them up. Finally real estate has some good news from the Finance Ministry. Reliable sources reveal that the ministry had talks […]

India’s economic growth falls further to 7.6%

India’s economic growth declined to 7.6% for the second quarter of this fiscal, leaving industry with the hope that policy measures taken over the past month will avert a further fall and help revive manufacturing. The country’s growth was 7.9 percent during the first quarter of the fiscal (April-June) and 9.2% during the second quarter […]

Save money by shifting home loan to public sector banks

The Indian government is trying hard to bring down the interest rates in order to counter the economic slowdown. Indian finance minister, Mr. P. Chidambaram, met with heads of private as well as PSU banks and advised them to lower lending rates. Expectedly, several public sector lenders were first to follow the advise. SBI have […]

Chidambaram asks US, Europe to ‘set their house in order’

Finance Minister P Chidambaram has asked the US and Europe to “set their house in order” to reverse the impact of the financial crisis on economies worldwide and help capital to flow back to developing nations. “If they (US and Europe) set their house in order, surely capital will flow back to developing countries credit […]

Govt criticizes ASSOCHAM

Taking strong exception to industry chamber Assocham‘s forecast that a quarter of people in certain key sectors will lose jobs in the next ten days, government today said the economy is poised for the other way. “The Deputy Chairman of the Planning Commission and my colleague Jairam Ramesh (Minister of State for Commerce) have taken […]

RBI cuts repo rate might be good news for realtors

RBI has cut the repo rate by 100 bps to 8%. This is effective immediately. The Finance Minister, P Chidambaram said that the repo rate cut will help in moderating inflation. This is a positive move which will enthuse both borrowers and investors, Mr. Chidambaram added. The RBI’s move is consistent with the government’s aim […]

FM Sensitises Banks For Cheaper Home Loans

A day after public sector banks led by State Bank of India cut interest rates; Finance Minister P Chidambaram raised hopes of another round of cuts. It is known that in last month bankers waited before acting on Chidambaram’s suggestion. This time they appeared more cooperative, saying there was scope for fresh cuts. During a […]

Forthcoming Budget Could Be Harsh

29 January 2008, New Delhi. Mr. P Chidambaram, Finance Minister of India, said on Tuesday that the coming budget could be harsh on the people. He is going to present the union budget in February. Mr. Chidambaram was asked about the tax cuts in the forthcoming budget, when he was attending an award ceremony. Mr. […]

Economists’ Recommend Not To Cut Direct Tax Rates In Budget

Jan 09, New Delhi: Finance Minister P Chidambaram received two contradictory suggestions from economists and industrialists. “Given the circumstances that there a number of fiscal stress points in the offing, like oil bonds, MSS, pay commission, it is not prudent to start thinking of reducing tax rates,” Standard & Poor’s Chief Economist (Asia-Pacific) Mr. Subir […]