Namo Narain Meena

• Government, RBI don't target specific current account gap levels: Minister of State for Finance

  The government and the Reserve Bank of India (RBI) do not target specific levels of current account deficit, but aim to monitor the balance of payment developments closely to moderate the gap to sustainable levels, Parliament was informed on Friday.

• Sebi cleared Bharti Infra IPO after adequate disclosures: government

  Market regulator Sebi had cleared Bharti Infratel's public offer after adequate disclosures were made in its IPO prospectus to address the issues raised by the market regulator itself and in the complaints received with regard to the offer, the government said on Friday.

• 109 private sector projects awaiting clearance: Government

  The government on Friday said as many as 109 private sector projects, with proposed investments of Rs 1,000 crore or more each, are awaiting clearance from different ministries.

• Sebi sent 50 warning letters to mutual funds in 3 years: government

  The Securities and Exchange Board of India (Sebi) has issued 50 warning letters to mutual funds (MFs) in the past three years for violations of norms and actions have been taken against five entities.

• Government to launch 1 billion Rs 10 plastic notes in five cities

  Government will introduce 1 billion pieces of Rs 10 bank notes made of plastic on a field trial basis in five cities, Namo Narain Meena, minister of state for finance, said in Parliament on Tuesday.

• India's GDP estimated at 5% in FY12, lowest since FY03: government

  India's GDP is estimated to grow at 5 per cent in 2012-13, lowest during since 2003-04, on account of slower growth in industry, agriculture and services sector, Parliament was informed today.

• RBI finds 154 cases of misuse of ECB funds: Minister of State for Finance

  Reliance Communications, Reliance Infratel, Huawei Technologies and Walt Disney Company (India) are among the companies which misused or diverted funds raised from abroad under the ECB route in the last three years, Parliament was informed today.

• India lowers growth forecast, says on track for deficit

  The rising fiscal deficit, which continues to be a concern for the government, needs to be addressed to ensure growth is stable and sustainable, said Namo Narain Meena , the Minister of State for Finance in the Lok Sabha today.

• Gold imports drop 30% to $20 billion in April-September

  Gold imports in value terms declined by 30.3 per cent in the April-September period of this year to USD 20.2 billion, Parliament was informed today.

• Declining trend in inflation may continue: Finance Ministry

  He said the decline in June inflation is due to decrease in the prices of some non-food articles and fuel items on year-on-year basis.

• Oil companies pay Rs 9,200 crore for 100 paise depreciation in rupee value: Govt

  Oil marketing companies incur losses due to depreciation of rupee against dollar, Minister of State for Finance Namo Narain Meena said.

• Govt outlines proposed austerity measures

  Minister of State for Finance Namo Narain Meena outlined austerity measures announced by the Finance Minister earlier this week.

• FDI by Indian companies rise 9-fold to $72 billion in 5 yrs, till 2009-10

  Minister of State for Finance Namo Narain Meena said, the increase in outward investment is a strategy to promote brand images and utilisation of raw materials available in the host country.

• Reserve Bank holding gold reserves worth $27 billion

  The bullion accounts for 9.2 per cent of foreign exchange reserves of $294.6 billion.

• Retrospective change in I-T Act may yield around Rs 40,000 cr

  The controversial proposal to amend the Income Tax Act with retrospective effect to bring into tax net Vodafone-type deals is expected to yield to the exchequer Rs 35,000 to Rs 40,000 crore, the government said.