Palaniappan Chidambaram

Finance Minister Palaniappan Chidambaram said on Thursday there was no decision so far on the proposed Food Security Bill and it could take some time to be passed.

The government does not currently plan additional taxes or curbs on imports of gold as it waits to see the impact of recent tax hikes, a top finance ministry official told Reuters on Wednesday.

In an interview with Reuters, Chidambaram said the government was committed to "fiscal correction", a nod to rating agencies that have threatened to make India the only BRIC nation with a junk credit status, even accounting for recent economic reforms.

Indian banks fetched more deposits than loans since the start of the financial year in April as high deposit rates prompted individuals to park funds with the lenders.

Palaniappan Chidambaram is India’s new finance minister. This is the third time he assumes the role. He first held the position in 1996 in the United Front government and later became finance minister in the United Progressive Alliance (UPA) government in 2004. He faces a bumpy ride ahead. India Inc and stock markets expect Chidambaram to deliver...

Finance Minister Palaniappan Chidambaram said on Thursday there was no decision so far on the proposed Food Security Bill and it could take some time to be passed.

The government does not currently plan additional taxes or curbs on imports of gold as it waits to see the impact of recent tax hikes, a top finance ministry official told Reuters on Wednesday.

In an interview with Reuters, Chidambaram said the government was committed to "fiscal correction", a nod to rating agencies that have threatened to make India the only BRIC nation with a junk credit status, even accounting for recent economic reforms.

Indian banks fetched more deposits than loans since the start of the financial year in April as high deposit rates prompted individuals to park funds with the lenders.

Palaniappan Chidambaram is India’s new finance minister. This is the third time he assumes the role. He first held the position in 1996 in the United Front government and later became finance minister in the United Progressive Alliance (UPA) government in 2004. He faces a bumpy ride ahead. India Inc and stock markets expect Chidambaram to deliver...