When times are tough, it's time to soften up. But while banks need to be supportive to the industry in difficult times, they are not geared up to involve themselves at a pre-project stage, says RK Dubey
Tag: P Chidambaram
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Moily meets Finance Minister, may hike diesel prices
In the backdrop of rupee's fall against dollar and the escalation of Syrian crisis ballooning oil import bill, Union Petroleum Minister Marpadi Veerappa Moily on August 29 met Finance Minister P Chidambaram to discuss possible solutions to the crisis. Sources said that the oil minister discussed with Chidambaram the diesel price hike of Rs 3-4 per litre and cut in duties.
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Adopt humane approach towards genuine defaulters: FM
Union Finance Minister P Chidambaram on August 29 said that banks must ensure flow of credit to every sector of industry. He said that bankers have been told to be sympathetic and have humane approach towards genuine defaulters. He said that this is the time for hand holding of borrowers who are facing difficulties, especially industry.
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Current Account Deficit will be at 3.7% of GDP: Govt
The Union Finance Minister P Chidambaram has recently told the Parliament that his Ministry has taken several measures to ensure the Current Account Deficit (CAD) be fully and safely financed in the current year. If the CAD is contained at $70.0 billion, it will amount to 3.7 per cent of GDP (as against 4.8 per cent in 2012-13), Chidambaram said.
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Govt provides Rs 2,000 cr sops to export sector
The Union government has provided Rs 2,000 crore incentives to support the country's sagging exports, Unon Finance Minister P Chidambaram has said. The government's subvention is for clearing its dues to the export sector. Chidambaram told that as much as Rs 1,550 crore would be used to clear existing dues and the remaining Rs 450 crore would go towards interest subvention rate hike from 2 per cent to 3 per cent.
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Gold imports down in June, July, says Chidambaram
Union Finance Minister P Chidambaram said on July 31 that gold imports into India were lower in June and July when compared to the same period last year. India is hoping to contain gold imports well below 845 tonne that were shipped last year, Chidambaram said, a week after the central bank restricted imports further, by tying imports to exports volumes. India imported a record of 162 tonne of gold in May, triggering a series of measures to contain imports and a ballooning current account defici
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Rate hike not a precursor to tight money policy: FM
Reserve Bank of India's measures to ease the rupee volatility should not be seen as tightening of policy rates, Union Finance Minister P Chidambaram has said. He was addressing a conclave of venture capitalists in Delhi on July 16. RBIĆās measures had a positive impact on the rupee on July 14, which ended at Rs 59.31 against the dollar, nearly one per cent higher than MondayĆās closing of Rs 59.81.
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Govt postpones decision on gas pricing
Union Finance Minister P Chidambaram has stated that the Cabinet Committee on Economic Affairs on June 21 deferred a decision on domestically produced natural gas pricing. Chidambaram said that the Union Minister for Petroleum & Natural Gas, M Veerappa Moily had to go to Agartala and that's why the deferment. Hopefully, the government would like to take a decision next week when the Minister is back, Chidambaram said.
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Govt postpones decision on gas pricing
Union Finance Minister P Chidambaram has stated that the Cabinet Committee on Economic Affairs on June 21 deferred a decision on domestically produced natural gas pricing. Chidambaram said that the Union Minister for Petroleum & Natural Gas, M Veerappa Moily had to go to Agartala and that's why the deferment. Hopefully, the government would like to take a decision next week when the Minister is back, Chidambaram said.
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Planning panel objects to proposed regulator for roads
The Union Finance Minister P Chidambaram had promised to set up an independent regulator for the road sector, seen as a reform for the sector. But the Planning Commission has raised objections to the proposal of the independent regulator for the roads sector. Chidambaram promised the proposal of the regulator when he toured the world to attract investment.