Browsing Tag
finance ministry
104 posts
Finance Minister concludes pre-Budget meetings with stakeholders
More than 120 invitees representing seven stakeholder groups participated in eight meetings during the period, a Ministry of Finance statement said.
Wish to make GIFT City a Global Financial Gateway: Sitharaman
Besides, the minister said that the bullion exchange is expected to "come into play soon" for which all the necessary infrastructure inclusive of safe vault facilities are built and are operational.
Sitharaman interacts with CMs, FMs to step up investment, growth
New Delhi, Nov 15 : With a view to enhance the investment climate in the country in the…
Bureaucracy frustrates Finance Ministry cleaning exercise
This can be fathomed by the fact that no less than 65 officers were transferred out from the DRI, 66 officers transferred from the DGGI, and 21 officers were transferred from the Vigilance Directorate.
Govt to Infuse Equity in ECGC to Boost Export Insurance Cover
The government has also proposed to provide additional corpus to NEIA over a period of five years to allow it to underwrite additional Rs 33,000 crore of project exports.
NSDL, SEBI must reveal source of funding in Adani Group: Congress
The Congress spokesperson said as per SEBI guidelines, a Foreign Portfolio Investor (FPI) can't hold more than 10% equity stake in any listed Indian firm.
Government releases ₹45,000 crore as additional devolution to States in FY 2020-21
The additional amount of ₹45,000 crore was released in two instalments of ₹14,500 crore and ₹30,500 crore.
Centre to infuse Rs 3,000 cr in PSU general insurers in Q4 FY21
The infusion will be done after the supplementary demands for grants is passed by parliament which will reconvene on March 8.
Rajasthan completes ‘One Nation One Ration Card’ reform, gets to borrow Rs 2,731 cr
This technology-driven reform enables the migrant beneficiaries to get their entitled quota of food grains from any electronic point of sale (e-PoS)-enabled fair price shops of their choice anywhere in the country.
Union Budget Another “Assault” On Farmers: Rahul Gandhi
Finance Minister Nirmala Sitharaman on Monday presented the budget for 2021-22 in the Lok Sabha from a tablet, instead of a conventional paper document, the first paperless budget since Independence.
Budget fails to impress Delhi traders
Despite Palika Bazaar having many shops in its compound, the trade improving to 40-50 per cent points to the fact that recovery is happening at a snail’s pace.
Budget 2021-22 will fail to curb inflation
However, 14.8 per cent people said they "don't know or can't say" if this Budget will help in bringing down inflation.
Union Budget largely deprived Assam: Congress
Saikia also said that people expected a lot of relief and support from the Budget as they have been badly affected by the Covid-19 pandemic, but the Central government led by the BJP has upset everyone.
Rs 5 lakh deposit insurance to get legal cover in Budget session
Last year, Government had approved an increase in the Deposit Insurance limit for bank customers. The amendment to the Act will now give legal cover to such insurance.
Delhi Police allocated Rs 8,644 crore in Budget
A total of Rs 306 crore will be spent on police infrastructure -- construction of office buildings, residential buildings and development of a new police headquarters building.
Union Budget is pro-corporate, nothing for poor: CPI
The CPI leader, now in the city to attend the party's National Council meeting, said the budget opened up agriculture, insurance sector and everything for FDI.
Budget a letdown like never before, says Chidambaram
Rs 2.50 on petrol per litre and Rs 4.00 on diesel per litre is a cruel blow to the average citizen, including the farmers.
Custom duty hike: Phones may get costlier by 3-4% after Feb 2
New Delhi: In another bid to boost domestic manufacturing, the government on Monday announced an increase in custom…
Ashok Gehlot unhappy with Budget, says people left disappointed
Jaipur, Feb 1 : Rajasthan Chief Minister Ashok Gehlot on Monday expressed his displeasure over the Budget presented…
100% visionless, Budget theme sell India: TMC
"India's first paperless budget is also a 100% visionless budget. Theme of the fake budget is Sell India!" TMC spokesperson Derek O'Brien said. "Railways: sold, Airports: sold, Ports: sold, Insurance: sold PSUs: 23 sold!"
Govt to hike FDI cap in insurance sector to 74 pc
It was in 2015 when the government hiked the FDI cap in the insurance sector from 26 per cent to 49 per cent.
Budget 2021: Rs 65,000 cr to develop 1,100 km of National Highway roads in Kerala
The reduction in customs duty on gold from 12 to 10.5 per cent will help to bring down gold prices in Kerala which is one of the highest consumers of gold.
Govt committed to farmers’ welfare, MSP system strengthened, sharp increase in payment to farmers: FM
Similarly, Rs 90 crore was paid in 2013-14 to cotton farmers while Rs 25,974 crore has been paid in 2020-21 as of January 27.
Finance Ministry approves MEIS allocation of Rs 39K cr for FY20
New Delhi, Nov 12: The Finance Ministry has approved the allocation of Rs 39,097 crore under the Merchandise…
Finance Ministry to provide capital support from Rs 20k cr fund to some PSBs in Q3
The fund infusion would be for meeting regulatory capital requirements if the need arises in October-December quarter, sources said
Temporary retention, not diversion: FinMin on CAG audit of GST cess
Time taken in reconciliation of compensation receipts can't be termed as diversion of GST cess fund when the dues to states were fully released by the central government, they said
Govt is amending Banking Regulation Act to benefit depositors: FM Sitharaman
The Finance Minister said the government is trying to bring amendments in order to protect the interest of depositors who in the last two years have been put to hardships.
GST compensation cess: 13 states decide, 12 opt for 1st option
Six more states — Goa, Assam, Arunachal Pradesh, Nagaland, Mizoram and Himachal Pradesh — will be giving their choice in a day or two, said people in the know.
Economic ‘Green Shoots’ visible, govt open to take more steps: FM Nirmala Sitharama
The Finance Minister also said that 'Labour Codes' are being completely changed and will require the Parliament's approval.
Cash handout to poor, workers if situation evolves: FinMin sources
With regard to the government's Rs 20 lakh crore economic package, the official source defended its structure while suggesting that comparisons with the economic packages of other countries should not be drawn as India's need was different than others.
Centre releases Rs 6K cr to assist 14 states with Covid-19 fight
Of the 14 states, the maximum grant-in-aid for May has gone to Kerala that has been given an amount of 1,277 crore followed by Himachal Pradesh with revenue deficit grant of Rs 953 crore.
47 IRS officers feature in credits of controversial tax booklet
Fin Min sources said that neither IRS Association nor any group of officers mentioned in the said report were ever asked by the Government to give any report on the subject. In fact, it was not even part of their duty to prepare such a report.
No pay cut for Central govt contract workers during lockdown
"The @FinMinIndia has issued orders to declare this period as 'on duty' and wages paid accordingly. (2/2) #IndiaFightsCorona," the minister said in a second tweet.
To deal with Rs 50K cr burden, Railways demands pension fund
New Delhi, Jan 29 : Facing the financial crunch over Rs 50,000 crore outgo as pension to more…
Growth may have slowed down, but there is no recession: FM in Rajya Sabha
Delhi: Growth may have slowed down, but there is no recession: Finance Minister in Rajya Sabha. India’s GDP…
Scrap deposit insurance: AIBEA tells FM Sitharaman
Chennai, Nov 19 : Even as the government is mulling increasing the insurance cover for bank deposits, the…
Will announce more measures to boost economy in coming weeks: Sitharaman
The government has recognised that consumption needs a boost, says Nirmala Sitharaman.
Insolvency and Bankruptcy Code (Amendment) Bill will create oligopoly, says Kapil Sibal
New Delhi, July 29 : Congress leader Kapil Sibal hit out at the Centre for “creating an oligopoly…
RS passes Bill to bring clarity to bankruptcy law
The Bill has proposed that if an application under the bankruptcy law is not admitted or rejected within 14 days by the adjudicating authority, it shall provide the reasons in writing.
RSS meet with govt over sovereign bond sealed Garg’s fate
New Delhi, July 27 (IANS) Former Finance Secretary Subhash Chandra Garg’s tenure in finance ministry is believed to…
RBI’s ECF panel to meet later this month: Jalan
New Delhi, July 1 RBI’s Economic Framework Panel will meet sometime in mid July to finalise and submit…
Take steps to recover unaccounted income, Finance Ministry told
New Delhi, June 24 (IANS) A parliamentary panel has asked Finance Ministry’s Revenue Department to take steps to…
DoE’s Group A and B employees’ June salary deferred to July
New Delhi, June 22 Excess expenditure over and above the limit of one-third of the provisions in the…
India raises duty on US exports as retaliatory action
In a late evening notification, the Union Finance Ministry said that the decision was taken in public interest.
Finance ministry mulling 3-5% tax in Budget on cash withdrawal of 10 lakh a year
New Delhi, June 10 (IANS) Withdrawing a cumulative Rs 10 lakh a year can attract 3-5 per cent…
Direct taxes heading for at least Rs 70,000 cr shortfall
New Delhi, March 28 (IANS) The Finance Ministry is making a last-ditch effort to get close to the…
PF funds’ investment in IL&FS bonds have no government guarantee: Finance Ministry
New Delhi, Feb 19 (IANS) The provident and pension fund trusts that invested in the IL&FS bonds now…
FinMin asks six public sector banks to improve on PCA parameters
Earlier, a Finance ministry official had said all the six banks were expected to come out of PCA over the next two quarters or by June.
Piyush Goyal given temporary charge of Finance
New Delhi, Jan 23 : Railway Minister Piyush Goyal was on Wednesday given charge of Finance Ministry in…
Ajay Bhushan Pandey takes over as Revenue Secretary
New Delhi, Nov 30: UIDAI CEO Ajay Bhushan Pandey took over as the Revenue Secretary in the Finance…
RBI snubs Modi government as FM demands Rs 3.6 lakh crore from central bank
The major tussle between Reserve bank of India (RBI) and the Modi government includes the proposal of the…
Autonomy for RBI vital, accepted governance requirement: Finance Ministry
New Delhi, Oct 31: Amid spat between the RBI and the Narendra Modi government, the Finance Ministry Wednesday said…
India’s April-September deficit crosses 95% of target
New Delhi, Oct 25 : India’s budgetary fiscal deficit for the April-September period at Rs 5.95 lakh crore…
Supreme Court notice to Finance ministry, WhatsApp against payments service
New Delhi, August 27 : The Supreme Court today issued a notice to messaging service provider WhatsApp as…
Finance ministry ask Railways to raise Bullet train funds from market
New Delhi, July 22: The Finance Ministry has directed the Indian Railways to raise the capital from the market…
Government strangling democracy by not discussing Finance Bill
On the most important issue of the budget session i.e. the Finance Bill, there was no discussion for even a second. It has been the DNA of the BJP government to strangle democracy. We have seen the example of this today.
Finance Ministry releases list of high-risk finance companies
New Delhi, Feb 26: The Finance Ministry on Monday released a list of around 9,500 Non-Banking Financial Companies (NBFCs),…
The challenges before 15th Finance Commission are many
The tax buoyancies have been affected by the transition to the GST and the GST compensation to states will continue till 2022.
Consumers investing in Bitcoins need to be cautious as to avoid getting trapped: Finance Ministry
New Delhi, Dec 29: Amid of surge in the price of bitcoins across India and the globe, the Finance…
Government to do additional market borrowing of Rs 50,000 crore
New Delhi: The government will undertake additional market borrowing of Rs 50,000 crore in the remaining period of the…
Increased customs duty a statutory industry-wise hike, says Apple
New Delhi, Dec 16: A day after the finance ministry decided to increase the customs duty from 10 per…
Health Ministry seeks lower GST on medical services
New Delhi, Dec 7: The Union Health Ministry has written to the Finance Ministry seeking reduction in GST rates…
GST: October collections keep falling at Rs 83,346 cr
New Delhi, Nov 27: The total revenue collected under GST fell by around 10 per cent to Rs 83,346…
Govt finalising electoral bonds scheme: FM
New Delhi, Sep 28 : Finance Minister Arun Jaitley today said the government is finalising electoral bonds scheme,…
CEA Arvind Subramanian, whose term was to end in Oct, gets 1 yr extension
New Delhi, Sep 23: Chief Economic Advisor (CEA) Arvind Srubramanian, whose tenure was going to end in October, has…
Centre asks taxpayers to confirm identity of income tax search authorities
New Delhi, Sep 22: The central government today asked taxpayers to confirm the identities of the income tax authorities…
Deadline to file transitional credit under GST extended to Oct 31
New Delhi, Sep 22, 2017: The government has extended to October 31 the deadline for businesses to file…
Government waives penalty on late GST returns for July
New Delhi, Sep 2, 2017: The government, on the recommendations of the Goods and Services Tax Council, has…
Former Home Secy Rajiv Mehrishi appointed as CAG
New Delhi, Aug 31, 2017: Senior IAS officer Rajiv Mehrishi, who retired as Union Home Secretary on Wednesday,…
All banned notes deposited with banks may not be legitimate, says Jaitley
New Delhi, Aug 31: In the backdrop of the RBI’s report stating that 99 per cent of the demonetised…
Actively working towards clean political funding: Jaitley
New Delhi, July 22, 2017: Finance Minister Arun Jaitley on Saturday said the government was actively working towards…
GST : Hostel fee in educational institutions exempted, says Government
New Delhi, July 13: Rebuffing reports that hostel fee charged by educational institutions will fall under 18 per cent…
Postpone GST rollout to Sep 1: Aviation ministry
New Delhi, June 15, 2017: The Civil Aviation Ministry has asked the Finance Ministry to postpone the rollout…
Arun Jaitley thanks political parties for making GST possible
New Delhi, June 8 : Union Finance Minister Arun Jaitley on Thursday thanked all political parties for their…
RBI monetary policy panel refused meeting with Finance Ministry
Mumbai, June 7 : The Reserve Bank of India’s Monetary Policy Committee had turned down the Finance Ministry’s…
Cabinet approves abolition of Foreign Investment Promotion Board
New Delhi, May 24 : In a bid to further ease doing business in India, the Union cabinet on…
Lower tax on entertainment services under GST : Finance Ministry
New Delhi, May 23 : Finance Ministry said on Tuesday, Taxation on the entertainment sector shall come down…
Ordinance to break ‘paralysis’ on NPAs: Arun Jaitley
New Delhi, May 5 : The government on Friday promulgated an ordinance empowering the RBI in a big way…
Parliamentary panel summons Urjit Patel on note ban issue
April 20, New Delhi: The parliamentary Standing Committee has yet again summoned RBI Governor Urjit Patel on May 25…
Bad loans a challenge, large corporates at root: Jaitley
New Delhi, March 15: Finance Minister Arun Jaitley on Wednesday said that the bad loans of banks remain…
Direct, indirect tax collections up in April-February
New Delhi, March 10: Direct tax collections rose by 10.7 per cent to Rs 6.17 lakh crore while…
Despite Rs 500 crore allocation from Nirbhaya fund, Railways lack CCTVs, surveillance systems
New Delhi, March 9: While Tuesday’s explosion on a Bhopal-Ujjain passenger train has been suspected to be a…
CBEC launches GST mobile app
New Delhi, Feb 23 In step with the government’s Digital India initiative, the Central Board of Excise and…
Cabinet yet to approve health scheme announced in last budget
New Delhi, January 31: Although Finance Minister Arun Jaitley is geared up to address this year’s budget speech tomorrow,…
India’s Economic Survey pegs next fiscal’s growth at 6.75-7.5%
New Delhi, Jan 31 : India’s Economic Survey for 2016-17 has pegged the country’s growth at between 6.75 per…
Cut indirect tax rates, not direct ones: Chidambaram
Jan 28: In view of the “sufferings” of the common people resulting from demonetisation, former Union Finance Minister P.…
No fake currency seized from Nov 8 to Dec 30 says Finance Ministry
One of the main motives of demonetisation was to dig out counterfeit money and tackling terrorist financing. But…
GST Council’s 9th meet fails to break dual control deadlock
New Delhi, Jan 16: The possibility of implementing the Goods and Services Tax (GST) by the Centre’s targeted…
RBI was created to be independent from the Centre: Kapil Sibal
Various employee unions of the central bank have objected to the government "impinging on RBI autonomy" and have written to Patel to take action against the "unwarranted interference".
Law Ministry denies DEA’s proposal to link small savings to Aadhaar
New Delhi, Dec 28, 2016: The Law Ministry has turned down a proposal made by the Finance Ministry…
S Das explains empty ATMs: Banks preferring cash supply via branches
New Delhi, Decmeber 15: Today is the last day to use your old Rs 500 notes for paying…
#Demonetisation: Jaitley says digital transactions are parallel mechanism, not substitute
New Delhi, December 15: In the biggest overhaul to the tone of demonetisation drive, Finance Minister Arun Jaitley…
Mumbai family declares Rs 2 lakh cr black money, IT dept rejects claim
New Delhi, Dec 5, 2016: The Income Tax department on Sunday has rejected two high-value declarations, one of…
Fin Min: No tax on jewellery/gold purchased out of disclosed income
New Delhi, December 1: In a yet another face-off to clarify central government’s move to fight black money,…
Govt may pull back all exemptions on use of demonetised notes
New Delhi, Dec 1, 2016: In the wake to meet the demand of payday during December 1-7, Finance…
It is not the matter of 50 days, at least 4 months are required to replace demonetize money
Just fifty days of pain is what PM Modi has asked people to endure for this surprise movement…
Modi reviews demonetization’s impact, holds meeting with senior leaders
Prime Minister Narendra Modi reviewed the recently announced demonetization and its effects with senior ministers after midnight on…
Get ready to pay more for Passport, licences and exams
NEW DELHI: The finance ministry has come up with a latest offering to add a hole in your…
Jaitley to review performance of state-run banks today
New Delhi, Sep 16, 2016: In the wake to review quarterly performance of state-run banks, Finance Minister Arun Jaitley…
Govt earmark Rs 22,915 cr capital in 13 public sector banks
The Finance Ministry of India on Tuesday announced the much-anticipated capital infusion of Rs 22,915 crore towards the…
Black money: Declarants cannot pay tax from undisclosed income
New Delhi, July 14 The tax authorities on Thursday clarified that those using the one-time compliance window under…
Cabinet expansion to take place at 11AM tomorrow
PM NARENDRA MODI TO EXPAND HIS CABINET WITH MAJOR CHANGES ON TUESDAY. It will be a second major…
Government does u-turn on EPF, agrees to 8.8% interest rate
Bowing to persistent pressure from trade unions and political parties, the Centre on Friday increased the interest rate…
Cabinet Reshuffle:Jaitley to get Defence,Piyush Goyal to finance
Upset with the stalled economic reforms and the losing of series of elections from Delhi to Bihar and…