Finance Minister P Chidambaram congratulated the UP government for introducing VAT and “wish them success.”
Roll out of Value Added Tax (VAT) in the country became complete, with Uttar Pradesh adopting the new tax system that has made 91 items including kerosene, milk and medicines cheaper on account of reduced rate of levy.
VAT, which replaces [...]

Finance Minister P Chidambaram asked banks to be more liberal while extending loans to urban poor for education, housing, consumer goods and medical needs, considering that their repayment record is much better than other categories of borrowers.
Indian Bank has financed 2.37 lakh self-help groups, covering 35 lakh women.
India will continue to grow at around [...]

Finance Minister P Chidambaram on Tuesday said fiscal deficit targets for 2008 will be met and held out an assurance of moderation of taxes rates, if compliance was met.
A 42% rise in direct tax revenues has once again raised expectations that there could be tax cuts in the next budget. On Tuesday, Union finance [...]