Tag Archives: indian finance minister

Indian Finance Minister blames US for diverting food products to make biofuels


Growing world economies, rising food demand and expansion of corn for producing bio-fuels has caused food inflation.

Indian Finance Minister P. Chidambaram blamed countries like the US for diverting food grains such as corn for producing bio-fuels, which led for to soaring food grain prices globally.

India banned exports of Edible Oils and even raised rice export prices to control rising prices.

Budget Highlights : 2008

Indian finance minister, Mr. P. Chidambaram presented the budget in the parliament for the fiscal 2008-09.
Highlights of the budgets are:

  • Personal income tax exemption hiked to Rs 1.5 lakh
  • Senior citizens threshold tax limit increased from Rs 1,95,000 to Rs 2,25,000
  • Tax exemption for women increased to Rs 1.8 lakh

Economic Survey 2007-08 :Highlights

Indian Finance Minister P. Chidambaram tabled the Economic survey 2007-08 in the Lok Sabha . Here are the highlights of the survey.

Economic survey 2007-08 highlights

  • India needs second green revolution.
  • GDP projected to grow 8.7 % in 2007-08, against 9.6% a year ago.
  • Fiscal deficit to be kept below 3 percent in 2008-09.