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New Delhi: Shri Pranab Mukherjee, the Union Finance Minister has said that the Regional Rural Banks will be strengthened to enable them to maintain a Capital to Risk Weighted Asset Ratio (CRAR) of at least 9 per cent as on March 31, 2012. The Government will provide Rs. 500 crore to these banks during 2011-12, which received Rs. 350 crore during the current year for this purpose.

New Delhi: The Union Finance Minister, Shri Pranab Mukherjee announced today that the Government has set up a Financial Sector Legislative Reforms Commission under the Chairmanship of Justice B. N. Srikrishna in pursuance of the announcement made in Budget 2010-11.

New Delhi: Hotel accommodation, in excess of declared tariff of Rs. 1000 per day and service provided by air conditioned restaurants that have license to serve liquor are the new services which have been brought under the service tax net.

New Delhi: The Union Finance Minister Shri Pranab Mukherjee has proposed special grants to recognize excellence in universities and academic institutions in the Union Budget 2011-12.

New Delhi: The Union Finance Minister Shri Pranab Mukherjee has made a provision of an additional Rs. 500 crore to the National Skill Development Fund during the ensuing financial year.

· Critical institutional reforms set pace for double-digit growth

· Scaled up flow of resources infuses dynamism in rural economy

· GDP estimated to have grown at 8.6% in 2010-11

· Exports grown by 9.6%, imports by 17.6% in April-January 2010-11 over corresponding period last year

· Indian economy expected to grow at 9% in 2011-12.

New Delhi: The Union Budget 2011-12 aims to sustain economic growth, strengthen infrastructure, moderate the price rise, particularly of agricultural produce and reduce social imbalances through inclusive development.

New Delhi: Union Finance Minister, Shri Pranab Mukherjee today announced in his Budget Speech that discussions are underway to further liberalize the Foreign Direct Investment (FDI) policy. All prior regulations and guidelines have earlier been consolidated into one comprehensive document in order to make FDI policy more user friendly. This is reviewed every six months, said the Finance Minister. The last review was released in September 2010.

New Delhi: Pranab Mukherjee, the Union Finance Minister has said that the Government is committed to take the process of financial sector reforms further.

New Delhi: The Union Budget 2011-12 proposes to amend the Indian Stamp Act. Presenting the Budget in Lok Sabha Finance Minister Pranab Mukherjee said that a bill will be introduced shortly to amend Indian StampAct, 1899.