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Finance Ministry

FY24 to end with strong growth performance, macroeconomic stability, reports Finance Ministry

FY24 to end with strong growth performance, macroeconomic stability, reports Finance Ministry

Tue, Nov 21, 2023

Financial flows in the external sector need constant monitoring as they impact the value of rupee and the balance of payments, the report said, adding that a fuller transmission of the monetary policy may also temper domestic demand.

India 360: Government's coffers are filling during the festive season, GST collection increased

India 360: Government's coffers are filling during the festive season, GST collection increased

Thu, Nov 02, 2023

Cover Story: There is bumper demand all around during the festive season, and the government's coffers are getting filled as GST collection is increasing significantly.

India's fiscal deficit at Rs 7.02 lakh crore for April-September this year

India's fiscal deficit at Rs 7.02 lakh crore for April-September this year

Tue, Oct 31, 2023

India's fiscal deficit for the first six months (April-September) of the current financial year was Rs 7.02 lakh crore which works out to 39.3 per cent of the estimate for the whole year, according to government data.

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GST likely to have 3-rate structure in future: Bibek Debroy

GST likely to have 3-rate structure in future: Bibek Debroy

Sat, Oct 27, 2018

In his address at the launch here of "GST: Explained for Common Man" written by former Central Board of and Excise and Customs Chairman Sumit Dutt Majumder, the PMEAC Chairman noted that only very few countries that have implemented GST follow the principle of "dual GST" (Goods and Services Tax) whose "terminal role from an economists point of view is to have a single tax structure."

Input Tax Credit: GST returns deadline extended by FinMin

Input Tax Credit: GST returns deadline extended by FinMin

Sun, Oct 21, 2018

The Central Board of Indirect Taxes and Customs (CBIC), under the Finance Ministry, said trade and industry had expressed apprehension relating to October 20 due date for claiming ITC under GST for July 2017-March 2018.

7th Pay Commission: This source reveals when central government employees may get pay hike good news

7th Pay Commission: This source reveals when central government employees may get pay hike good news

Fri, Oct 19, 2018

7th Pay Commission: The 11 million strong central government employees and pensioners have been waiting for their pay hike news over and above the recommendations of the official report recommendations for a long time.

Govt likely to appoint new CEA in next 1-2 months

Govt likely to appoint new CEA in next 1-2 months

Fri, Oct 19, 2018

The government is likely to appoint a new chief economic advisor (CEA) in the next one or two months, sources said.

FinMin refutes FIEO's claims, says Rs 71,169 cr GST refunds cleared till date

FinMin refutes FIEO's claims, says Rs 71,169 cr GST refunds cleared till date

Sat, Oct 13, 2018

The Finance Ministry termed these figures as "exaggerated and thus inaccurate". It clarified that IGST refund worth only Rs 3,065 crore is held up due to deficiency in claims filed, and the quantum of pending ITC refund is only Rs 2,077 crore.

India yet to work out payment mechanism for Iran oil imports, government official tells CNBC TV18

India yet to work out payment mechanism for Iran oil imports, government official tells CNBC TV18

Fri, Oct 12, 2018

Oil minister Dharmendra Pradhan has conveyed that New Delhi will continue to buy Iranian oil to some extent, said economic affairs secretary at the finance ministry Subhash Chandra Garg.

FinMin drafting Asset Monetisation Framework for hiving off CPSEs' non-core biz

FinMin drafting Asset Monetisation Framework for hiving off CPSEs' non-core biz

Sun, Oct 07, 2018

The nine CPSEs whose non-core assets have been identified for hiving off are Pawan Hans, Scooters India, Air India, Bharat Pumps & Compressors, Project & Development India Ltd (PDIL), Hindustan Prefab, Hindustan Newsprint, Bridge and Roof Co and Hindustan Fluorocarbons.

Contactless banking to be the new paradigm: Fin Services Secretary Rajiv Kumar

Contactless banking to be the new paradigm: Fin Services Secretary Rajiv Kumar

Mon, Oct 01, 2018

Based on the experience of this automated loan processing system, other products could be onboarded, he said, adding "contactless banking is going to be the new paradigm as it fosters transparency".

Govt moots Independent Payments Regulatory Board to promote consumer protection

Wed, Sep 19, 2018

The draft proposal provides PRB with sufficient powers to ensure public's ability to transmit money smoothly and securely through payment and settlement systems. "The Committee recommends that the government may place the proposed Bill before the Union Cabinet for its consideration," said the report.

FinMin crafting strategy to boost GST revenues, engaging with states to identify issues

FinMin crafting strategy to boost GST revenues, engaging with states to identify issues

Sun, Sep 09, 2018

The Centre paid Rs 14,930 crore to compensate states for revenue loss incurred in June and July, a nearly four-fold jump compared to Rs 3,899 crore paid for the months of April and May.

Did you invest in Chit fund? Massive benefit may come soon

Did you invest in Chit fund? Massive benefit may come soon

Fri, Aug 10, 2018

The All India Association of Chit Funds in their memorandum submitted to the Committee requested for allowing a chit fund company to mention under their name as 'A ROSCA Institution' (Rotating Savings and Credit Association).

Setback for Bullet Train! Railways see fund shortage for mega project; FinMin asks it to borrow from market

Setback for Bullet Train! Railways see fund shortage for mega project; FinMin asks it to borrow from market

Mon, Jul 23, 2018

Overall, Indian Railways managed to gather up to Rs 18,000 crore from the ministry.

One year of GST: Impact of new tax regime decoded

One year of GST: Impact of new tax regime decoded

Mon, Jul 02, 2018

Currently, GST has five tax bracket namely 0%, 5%, 12%, 18% and 28% and is followed as a dual tax regime in India.

One year of GST: When Modi invoked milk and Mercedes to attack Congress

One year of GST: When Modi invoked milk and Mercedes to attack Congress

Mon, Jul 02, 2018

Modi will remembered as the man who changed an entire face of India financial system with reforms like demonetisation and GST.

One year of GST: This regime made airfare in economy class cheaper, but business class turned expensive

One year of GST: This regime made airfare in economy class cheaper, but business class turned expensive

Mon, Jul 02, 2018

One year of GST: The response has been mixed with some left confused about the digitized process and its norms.

Finance Ministry weighs options for consolidation in banking sector

Finance Ministry weighs options for consolidation in banking sector

Sun, Jul 01, 2018

The presentation talked about advantages and challenges of merger but it also highlighted that fragmented approach of the banks is acting as an impediment in their growth. Various permutation and combinations are being examined, sources said, but added that no decision has been taken yet.

One year of GST: Did this new tax regime impact your loans, ATM transactions? Find out

One year of GST: Did this new tax regime impact your loans, ATM transactions? Find out

Sun, Jul 01, 2018

One year of GST: Consumers saw a small increase in costs of purchasing financial products and availing financial services.

GST brought down prices of these products; here is full list

GST brought down prices of these products; here is full list

Sun, Jul 01, 2018

One year of GST: 12 months have already passed since the goods and services tax (GST) was rolled out by PM Narendra Modi.

GST hiked prices of these products; check full list

GST hiked prices of these products; check full list

Sun, Jul 01, 2018

One year of GST: Much to the disappointment of the common man, prices of many daily use products jumped after GST was implemented. FMCG was one of the major sector that witnessed structural change on account of GST.

One year of GST: Has this regime brought ‘ache din’ to taxpayers?

One year of GST: Has this regime brought ‘ache din’ to taxpayers?

Sun, Jul 01, 2018

One year of GST: This regime replaced multi-layered, complex indirect tax structure with a simple, transparent and technology-driven tax regime.

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