Arun Jaitley takes charge as FM after a three-month break due to surgery

A little more than three months after Arun Jaitley underwent a successful kidney transplant surgery, he took back charge of Finance and Corporate Affairs Ministry at 11 am on Thursday. Piyush Goyal, who was the caretaker Finance Minister in Jaitley’s absence, will continue as Railways and Coal Minister.

“The President of India, as advised by the Prime Minister, has directed to assign the portfolios of the Minister of Finance and Minister of Corporate Affairs to Arun Jaitley,” an official statement said.

Jaitley underwent surgery at the All India Institute of Medical Sciences (AIIMS) on May 14. He had been keeping unwell since early April due to kidney-related problems and chest infection. The initial assessment by the doctors post-surgery was that he would take at least eight weeks to recover.

The Finance Minister was discharged on June 4 and underwent post-operative recovery at his official residence under the most strict of conditions imposed by the doctors. He wasn’t meeting anyone but close family members and doctors.

Aircel, two sister entities under SFIO lens for financial irregularities

The Serious Fraud Investigation Office (SFIO) is probing alleged financial irregularities at debt-laden Aircel as well as two group entities -- Aircel Cellular and Dishnet Wireless, according to a senior official. The official said the Corporate Affairs Ministry has ordered a probe by the SFIO into the affairs of the three companies. 

In February, Aircel announced filing for bankruptcy as the company was facing "troubled times" in "highly financially stressed" industry. Intense competition following the disruptive entry of a new player, legal and regulatory challenges, high level of unsustainable debt and increased losses had together caused significant "negative business and reputational impact" on the company, it had said. The SFIO is a multi-disciplinary organisation, under the ministry, which probes white-collar crimes and frauds that are in violation of Companies Act.

Sebi evolving according to the economy's needs: Arun Jaitley

Latest News - Finance Minister Arun Jaitley on Saturday credited the Securities and Exchange Board of India (Sebi) for being a professional organisation which has been evolving as per the needs of the economy and the markets.

Jaitley's comments on the evolution of the Sebi's role came after he addressed its board at a post-Budget meet.

"Sebi is a professional organisation with considerable experience," Jaitley said adding that it has been evolving according to the needs of the economy and the markets.

According to the minister, during the meet, discussions on various issues relating to the securities markets were held.

The meeting was attended by (Read More)

Budget 2017: EC bars govt from announcing schemes for poll-bound states

Latest News - The Election Commission tonight gave its nod to the Centre to present the Union Budget on February 1 ahead of the Assembly polls, but said no schemes related to these poll-bound states can be announced and the Finance Minister's speech should not refer to the government's achievements in these states.

It also reminded the government of a 2009 advisory which said vote-on-account instead of a full fledged budget is presented ahead of elections as per convention.

"The Commission hereby directs that in the interest of free and fair elections and in order to maintain level playing field... No state-specific schemes shall be announced which may have the effect of (Read More)