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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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Here's why Mahindra will be impacted the most with hike in GST cess

Here's why Mahindra will be impacted the most with hike in GST cess

Fri, Aug 25, 2017

Mahindra's higher exposure to the SUV segment makes it especially vunerable to the impact of the hike in the GST cess expected soon.

Public sector banks shares rise as Govt gives in-principle approval for mergers

Public sector banks shares rise as Govt gives in-principle approval for mergers

Wed, Aug 23, 2017

Shares of public sector banks (PSBs) rose in trade on Wednesday afternoon as the government gave an in-principle approval for mergers between various PSBs.

Luxury car makers voice disappointment over GST Council's increase in cess

Luxury car makers voice disappointment over GST Council's increase in cess

Mon, Aug 07, 2017

The GST Council's decision to increase the cess on luxury vehicles by an additional 10% is expected to see an increase in the prices of luxury cars.

SUVs, luxury cars to get expensive as GST Council recommends hike in cess to 25%

SUVs, luxury cars to get expensive as GST Council recommends hike in cess to 25%

Mon, Aug 07, 2017

The GST Council has taken the decision to increase the rate in the cess charged on larger cars to 25% from the earlier GST cess of 15%.

Govt to sell up to 25% stake in 4 defence PSUs via IPO

Govt to sell up to 25% stake in 4 defence PSUs via IPO

Fri, Aug 04, 2017

The government is planning to list four of its defence PSUs by selling up to 25 per cent stake in each of them through an initial public offering (IPO).

Fake currency reports double; leads to seizure of Rs 562 crore in 2015-16

Fake currency reports double; leads to seizure of Rs 562 crore in 2015-16

Sun, Jul 30, 2017

The report of the Financial Intelligence Unit (FIU), the premier technical snoop wing under the Finance Ministry, said the financial year 2015-16 saw a "record increase" in the detection of such instances.

Government seeks parliament approval for $1.7 billion extra spending

Government seeks parliament approval for $1.7 billion extra spending

Wed, Jul 26, 2017

The Indian government on Wednesday sought parliament`s approval to spend an extra 106.5 billion rupees ($1.65 billion) in new spending in the fiscal year to March 2018, on top of an earlier approved spending of $333.3 billion in the annual budget.

Undisclosed income of Rs 71,941 crore found in 3 yrs: Govt to SC

Undisclosed income of Rs 71,941 crore found in 3 yrs: Govt to SC

Sun, Jul 23, 2017

Massive searches, seizures and surveys by the Income Tax (IT) department over the last three years have led to the detection of around Rs 71,941 crore of "undisclosed income", the Centre has told the Supreme Court.

Mudra loans disbursement cross Rs 1.8 lakh crore

Mudra loans disbursement cross Rs 1.8 lakh crore

Wed, Jul 19, 2017

The ministry said, "Loans under Pradhan Mantri Mudra Yojana (PMMY) Scheme have been extended by banks, Non Banking Financial Companies (NBFCs) and Micro Finance Institutions (MFIs) to small/micro business enterprises since April 08th 2015 with the objective of ‘Funding the unfunded’ through institutional finance by providing loans upto 10 lakh for manufacturing, processing, trading, services and activities allied to agriculture."

7th Pay Commission: Are revised allowances coming from July itself?

7th Pay Commission: Are revised allowances coming from July itself?

Sat, Jul 08, 2017

Now that finance ministry has asked central ministries to ensure recommendations made under 7th Pay Commission to be paid from current months salary.

Have zero tolerance on NPAs; fight cases: Finmin to banks

Have zero tolerance on NPAs; fight cases: Finmin to banks

Sat, Jul 08, 2017

The ministry has been asking banks to take tough action against such borrowers and be ready to fight court cases as well.

Rs 200 notes to be a reality soon; RBI places printing order

Rs 200 notes to be a reality soon; RBI places printing order

Tue, Jul 04, 2017

After introducing new notes of Rs 2000 and Rs 500, the RBI is all set to introduce new Rs 200 notes in the country.

'War room' set up to deal with GST crises

'War room' set up to deal with GST crises

Tue, Jun 27, 2017

Central Board of Excise and Customs (CBEC) chief Vanaja N Sarna told PTI today that the unit will act as a quick resource centre for central and state government officials to address their queries on the historic tax reform scheduled to be implemented from July 1.

Department of Telecom asks Centre to cut its revenue target from the sector

Department of Telecom asks Centre to cut its revenue target from the sector

Mon, Jun 19, 2017

Department of Telecom has asked for a revise in non-tax revenue targets for the current fiscal.

Finance Ministry asks PSBs to explore acquisition of smaller banks

Finance Ministry asks PSBs to explore acquisition of smaller banks

Sun, Jun 18, 2017

The finance ministry has asked four large PSU lenders to explore opportunities for acquisition of small and mid-sized banks with a goal to create global sized lenders, sources said.

Aadhaar must to avail govt co-contribution under Atal Pension Yojna

Aadhaar must to avail govt co-contribution under Atal Pension Yojna

Mon, Jun 12, 2017

Any individual who is eligible to receive benefits under the APY will have to furnish proof of possession of Aadhaar number or undergo enrolment under Aadhaar authentication, the ministry said in a statement.

Is all well between RBI and FinMin? YV Reddy answers

Is all well between RBI and FinMin? YV Reddy answers

Thu, Jun 08, 2017

Urjit Patel was asked if the finance ministry invite was an assault on the independence and autonomy of the RBI.

FDIs in India flat in 2016, but prospects bright: UNCTAD

FDIs in India flat in 2016, but prospects bright: UNCTAD

Thu, Jun 08, 2017

The World Investment Report released by the UN agency in Geneva on Wednesday said that FDI rose by a paltry one % in 2016 to $44.486 billion from the $44.064 billion in 2015.

Revenue department sets up twitter handle to answer GST queries

Revenue department sets up twitter handle to answer GST queries

Mon, May 29, 2017

With just over a month left for GST implementation, the revenue department today started a new twitter handle to answer industry queries related to the new indirect tax regime.

Finance Ministry initiates process for finding new State Bank of India's chief

Finance Ministry initiates process for finding new State Bank of India's chief

Sun, May 28, 2017

As SBI's chief Arundhati Bhattacharya's extended four-year term comes to an end on October 6 this year, the Finance Ministry has initiated the process for finding new chief for the bank.

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