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Reserve bank of India (RBI) today hiked the short-term lending and borrowing rates and the portion of money banks deposit with it by 25 basis points each.

The repurchase rate (repo), reverse repurchase rate (reverse repo) to 5.25 per cent and 3.75 per cent, respectively. It also set the Cash Reserve Ratio (CRR) to 6 per cent.

On Tuesday April 20, Reserve bank of India (RBI) will be reviewing the country's monetary policy. Economists are are anticipating hikes in policy rates.

It would be a tough walk for RBI to contain rising inflation and to propel growth at the same time. Market is eagerly watching RBI's next steps.

Finance minister Mr Pranabh Mukherjee has presented the union budget for year 2010-2011 in the Parliament today. The major highlights of the budget are as follows ....

Latest income tax slab rates for your quick reference. Year 2010-2011 This income tax slab table can be used as a ready reference in calculating your income tax for year 2010-11. This table is based on the latest income tax slab.

In preparation of the Union budget 2010-2011, Minister of Finance Mr Pranabh Mukherjee will meet Industry leaders today. He will be meeting leading industrialists and also representatives of Ficci, CII and Assocham.

The Union budget for year 2010-2011 will be presented on February.

Finance Minister Pranabh Mukherjee has indicated that controlling inflation is the highest priority for the Government. While answering questions from MPs in the Parliament, Mr. Mukherjee said "Government is monitoring the price situation on regular basis"

Previously the government had indicated its willingness to import essential commodities in order to contain the price rise.

The Indian food prices have touched a ten-year high.

Rashtrapati Bhawan announced the portfolios on Saturday and it is now confirmed that Pranabh Mukherjee would continue as Minister of Finance under the Manmohan Singh government.

Mukherjee was the Finance minister under the previous UPA government and presented the interim budget for the outgoing government. He was also the Finance Minister between 1982 and 1984.

His first priority after assuming office would be to present the Union budget.