Warning that India’s economy is “challenged”, Union finance minister P. Chidambaram said on Monday that without reforms there was a risk of a sharp and continuing slowdown of the economy.

Union finance minister P.

Regarding the changes in the life insurance sector, Union finance minister P. Chidambaram on Monday said: “The department of revenue will examine whether, in addition to new pension scheme (NPS), some insurance pension products as approved by IRDA may be included in the separate limit over and above the limit of Rs 1 lakh under Section 80C of the IT Act for the purpose of income tax deduction on premium paid.”

The life insurance sector will see a slew of changes in the next few days as the government tries to increase its penetration across India and canalise huge funds with these companies into infrastructure.

The government on Friday appeared to differ with the Kelkar Committee report on sharp reduction in subsidies on petroleum, food and fertiliser.

The government on Friday appeared to differ with the Kelkar Committee report on sharp reduction in subsidies on petroleum, food and fertiliser.

The report had said that the policy objectives should b

TDSAT’s two-member bench on Tuesday gave a split verdict on the telecom department’s order to operators to end 3G intra-circle roaming pacts. It is likely that the telecom operators may go to the Supreme Court.

Prime Minister Manmohan Singh, in direct charge of the finance ministry again, swung into action Wednesday and directed officials to “revive the animal spirit in the country’s economy”.

India’s industrial production growth has come to a standstill, with factory output expanding by just 0.1 per cent in April.

Rejecting immediate cut in petrol price, the government said Friday it would watch rupee movement and international crude prices for a “few days” before taking a decision on a rollback.

“We in the mi