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Finance Ministry

Finance Ministry to empanel merchant bankers, law firms for disinvestment via OFS, dribbling

Finance Ministry to empanel merchant bankers, law firms for disinvestment via OFS, dribbling

Sun, Dec 10, 2023

To be eligible for empanelment in the A++ category, which is an OFS transaction size of more than Rs 2,000 crore, interested merchant bankers would be required to have completed at least one equity market transaction of the size of Rs 2,000 crore.

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.

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Budget to be presented on February 1: Govt official

Budget to be presented on February 1: Govt official

Tue, Jan 03, 2017

Union Budget 2017 will be presented on February 1, 2017, a government official confirmed on Tuesday.

Can't give info if Arun Jaitley, Arvind Subramaniam consulted before demonetisation: RBI

Can't give info if Arun Jaitley, Arvind Subramaniam consulted before demonetisation: RBI

Sun, Jan 01, 2017

Whether views of the Chief Economic Advisor and the Finance Minister were taken before the sudden announcement of demonetisation of high-value currency notes by Prime Minister Narendra Modi on November 8, the Reserve Bank of India (RBI) feels this query cannot be answered under the Right to Infor

Govt's direct tax kitty swells to Rs 5.57 lakh crore in April-December 2016

Govt's direct tax kitty swells to Rs 5.57 lakh crore in April-December 2016

Fri, Dec 30, 2016

Government's direct tax kitty has swelled to Rs 5.57 lakh crore between April 1 and December 19, thereby achieving 65 per cent of budget estimates.

10 director level posts vacant in Reserve Bank of India

10 director level posts vacant in Reserve Bank of India

Sun, Dec 25, 2016

Reserve Bank of India's (RBI) all powerful central board is short of ten non-official directors and one Deputy Governor at a time when the apex bank is engaged in massive demonetisation and remonetisation exercises.

PM Narendra Modi promises more reforms, says note ban short-term pain

PM Narendra Modi promises more reforms, says note ban short-term pain

Sat, Dec 24, 2016

Prime Minister Narendra Modi on Saturday hinted at unleashing more radical reforms, saying his government will not shy away from taking difficult decisions that are in national interest and admitted the note ban caused "short-term pain".

Arun Jaitley faces hurdles for launch of GST by April 2017

Arun Jaitley faces hurdles for launch of GST by April 2017

Sat, Dec 24, 2016

The prospects of introducing a goods and services tax (GST) in India next April, its biggest tax reform, faded on Friday after central and state finance officials postponed talks on how to administer the tax after a two-day meeting.

RBI's latest currency disbursal figures: The math still doesn't add up

RBI's latest currency disbursal figures: The math still doesn't add up

Fri, Dec 23, 2016

On December 7, during the monetary policy press conference, the Deputy Governor of RBI, R. Gandhi, informed the media that a total of Rs 4 trillion or Rs 4 lakh crore had been disbursed to the public in new currency notes till the day before.

Government limits charges on electronic fund transfer

Government limits charges on electronic fund transfer

Wed, Dec 21, 2016

RBI has also rationalised the Merchant Discount Rate (MDR) for debit card transactions up to Rs 2,000 for the 3-month period.

Retirement fund body EPFO likely to retain 8.8% interest on EPF for FY17

Retirement fund body EPFO likely to retain 8.8% interest on EPF for FY17

Sun, Dec 18, 2016

Retirement fund body EPFO is likely to retain 8.8% rate of interest on EPF deposits for the current fiscal for its over four crore subscribers -- same as 2015-16 -- at its trustees meeting on December 19, Monday.

Labour Ministry wants to retain 8.8% interest on EPF for FY17

Labour Ministry wants to retain 8.8% interest on EPF for FY17

Thu, Dec 15, 2016

The Labour Ministry is pitching for retaining 8.8 % interest rate on EPF deposits of over 4 crore subscribers of the retirement fund body EPFO for 2016-17 and trying to bring the Finance Ministry on board.

Indian economy well cushioned to absorb Fed rate hike impact: Finance Ministry

Indian economy well cushioned to absorb Fed rate hike impact: Finance Ministry

Thu, Dec 15, 2016

The Indian economy is "well cushioned" to absorb the impact of U.S. Federal Reserve`s rate hike, the chief economic adviser at the Ministry of Finance Arvind Subramanian said on Thursday, amid fears of capital outflows from India.

Banks must keep deposits record of scrapped, valid notes: Finance Ministry

Banks must keep deposits record of scrapped, valid notes: Finance Ministry

Mon, Dec 12, 2016

To avoid any malpractices, the government on Sunday asked all public sector banks to strictly maintain record of deposits made through both old Rs 500 and Rs 1,000 notes and other valid currencies.

23% Jan Dhan accounts still without balance; deposit surge abates

23% Jan Dhan accounts still without balance; deposit surge abates

Sun, Dec 11, 2016

Despite a huge surge in total deposits in Jan Dhan accounts following demonetisation, about one-fifth of these still continue to have no balance.

Hike in fares likely as Indian Railways mulls ways to raise resources

Hike in fares likely as Indian Railways mulls ways to raise resources

Sun, Dec 11, 2016

Train passengers may have to shell out more as Indian Railways is mulling increasing fares in a bid to raise resources after the Finance Ministry rejected its proposal of a special safety fund.

Demonetisation: I-T department seizes Rs 130 crore in cash & jewellery since Nov 8

Demonetisation: I-T department seizes Rs 130 crore in cash & jewellery since Nov 8

Wed, Dec 07, 2016

The Income Tax Department (I-T) has carried out investigations into over 400 cases post-demonetisation seizing as much as Rs 130 crore in cash and jewellery, an official statement said on Tuesday.

EPFO invests Rs 9,723-crore in ETFs, earns 9.17% absolute return

EPFO invests Rs 9,723-crore in ETFs, earns 9.17% absolute return

Mon, Nov 28, 2016

Retirement fund body EPFO has invested Rs 9,723 crore in exchange traded funds (ETFs) till October this year while absolute return on these investments was 9.17%, Parliament was informed on Monday.

Govt hikes import tariff value on gold, silver

Govt hikes import tariff value on gold, silver

Tue, Nov 01, 2016

The government on Monday hiked import tariff value on gold and silver marginally to $414 per 10 grams and $577 per kg, respectively, taking into account global trends.

Finance Ministry declines to share black money assessment reports

Finance Ministry declines to share black money assessment reports

Sun, Oct 23, 2016

The Finance Ministry has declined to share reports submitted to it nearly three years ago on the quantum of black money held by Indians inside the country and abroad, saying it will cause breach of privilege of Parliament.

Debit card data breach: Too small a number or a wake up call for JAM?

Debit card data breach: Too small a number or a wake up call for JAM?

Fri, Oct 21, 2016

Finance Ministry of India on Friday said that the number of debit cards impacted by the data breach is 0.5%. Surely the number looks to small but it does have the possibility to have a wider impact.

Govt unlikely to go in for cut in public expenditure in FY17

Govt unlikely to go in for cut in public expenditure in FY17

Mon, Oct 17, 2016

The revenue deficit for current fiscal has been bettered to 2.5% of GDP, from the budgeted 2.8%.

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