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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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7th Pay Commission: Empowered panel to put final touches on report this weekend

7th Pay Commission: Empowered panel to put final touches on report this weekend

Wed, Jun 08, 2016

The Empowered Committee of Secretaries led by Cabinet Secretary PK Sinha will meet on June 11 to make the final changes to the 7th Pay Commission's recommendations.

Nirmala Sitharam to discuss Apple retail store matter with Finance Ministry

Nirmala Sitharam to discuss Apple retail store matter with Finance Ministry

Tue, Jun 07, 2016

DIPP secretary headed panel had favoured waiving the mandatory local sourcing requirement for the US-based firm.

Apple sales in India crossed $1 billion last year but Jaitley isn’t impressed

Apple sales in India crossed $1 billion last year but Jaitley isn’t impressed

Sat, Jun 04, 2016

Hurdles continue to plague Apple's strategy for India, even Cook’s visit to India has done very little to help the company.

7th Pay Commission: This simple calculator helps you find out your new salary

7th Pay Commission: This simple calculator helps you find out your new salary

Sat, Jun 04, 2016

The new increased pay scale is expected to be implemented as soon as next month

Govt wants you to sell your old car and this may not be that good a news

Govt wants you to sell your old car and this may not be that good a news

Wed, Jun 01, 2016

The Government is likely to give up to 8-12% of the total new vehicle cost as financial incentives.

7th Pay Commission: Why govt employees will have something to cheer about on June 11

7th Pay Commission: Why govt employees will have something to cheer about on June 11

Tue, May 31, 2016

The implementation of the 7th Pay Commission will boost the pay of lacks of government employees who have been kept waiting.

Govt, RBI trying to resolve payment issue with Venezuela: Commerce Secretary

Govt, RBI trying to resolve payment issue with Venezuela: Commerce Secretary

Mon, May 30, 2016

Indonesia is very keen to procure the non-basmati rice from India because that is what they do consume and prices are also competitive.

Extend tax holiday for startups to 7 years: Nirmala Sitharaman tells Finance Ministry

Extend tax holiday for startups to 7 years: Nirmala Sitharaman tells Finance Ministry

Mon, May 30, 2016

Sitharaman said lots of inputs from startups have been received and "recommendations have gone to the Finance Ministry for extending the 3-year tax holiday to 7 years".

Trading in Sovereign Gold Bond Scheme to start by May-end: Finance Ministry

Trading in Sovereign Gold Bond Scheme to start by May-end: Finance Ministry

Tue, May 17, 2016

Finance Ministry took the decision at a review meeting of gold-related schemes held on May 13 under the chairmanship of Economic Affairs Secretary Shaktikanta Das.

Govt unearths indirect tax evasion of Rs 50,000 crore in 2 years

Govt unearths indirect tax evasion of Rs 50,000 crore in 2 years

Tue, May 10, 2016

A Special Investigation Team has been constituted, chaired by former Supreme Court Judge M B Shah.

India inflation probably nudged up to 5% in April: Reuters poll

India inflation probably nudged up to 5% in April: Reuters poll

Tue, May 10, 2016

"The central bank has to be confident of hitting the 5 percent target next year before deciding on easing further," said Rishi Shah, economist at Deloitte.

Finance Ministry lowers taxes for corporates, small businesses to boost growth, employment

Finance Ministry lowers taxes for corporates, small businesses to boost growth, employment

Mon, May 09, 2016

The steps that will be taken include lowering of corporate tax to 25% for new manufacturing companies, extending tax benefits to housing sector and reducing technical service fees among others.

Income Tax Department refunded Rs 1.22 lakh crore last year

Income Tax Department refunded Rs 1.22 lakh crore last year

Fri, May 06, 2016

The Income Tax department has issued 2.10 crore refunds totalling over Rs 1.22 lakh crore in 2015-16, which saw 94 per cent the returns being filed online.

Save on tax next year by investing in these schemes today

Save on tax next year by investing in these schemes today

Tue, May 03, 2016

Managing finance and investments has become much more complex today than it ever was. Inflation has made it difficult to fulfil even the basic minimum needs such as buying a flat or children’s education.

Finance Ministry agrees to give 8.8% interest on EPF: Bandaru Dattatreya

Finance Ministry agrees to give 8.8% interest on EPF: Bandaru Dattatreya

Fri, Apr 29, 2016

After the nationwide protest by trade unions against lowering of EPF interest rate, Labour Minister Bandaru Dattatreya on Friday said that Finance Ministry has agreed to give 8.8% interest on Employee Provident Fund (EPF).

Trade unions to hold day-long protest today on lowering of EPF interest rate

Trade unions to hold day-long protest today on lowering of EPF interest rate

Fri, Apr 29, 2016

The trade unions including Indian National Trade Union Congress (INTUC), All India Trade Union Congress (AITUC), Centre of Indian Trade Unions (CITU) and All India United Trade Union Centre (AIUTUC) will join the protest.

Air India losses to come down to Rs 2,636 crore: Govt

Air India losses to come down to Rs 2,636 crore: Govt

Thu, Apr 28, 2016

National carrier Air India is expected to trim losses by more than half to Rs 2,636 crore in the 2015-16 fiscal as compared to a net loss of Rs 5,859.91 crore in 2014-15, the government said on Thursday.

Finance Ministry defends lower EPF rate, cites lower earnings of EPFO

Finance Ministry defends lower EPF rate, cites lower earnings of EPFO

Wed, Apr 27, 2016

A Finance Ministry source said the decision was based on "pure arithmetic calculation" and is aimed at ensuring sustainability of the EPFO.

India to sell Rs 2794 crore stake in NHPC

India to sell Rs 2794 crore stake in NHPC

Tue, Apr 26, 2016

The government wants to raise 565 billion rupees from the sale of stakes in state-owned enterprises in the 2016/17 financial year.

Arun Jaitley lowers EPF rate to 8.7% for FY16; trade unions protest

Arun Jaitley lowers EPF rate to 8.7% for FY16; trade unions protest

Tue, Apr 26, 2016

Trade unions including RSS-backed Bharatiya Mazdoor Sangh (BMS) have lodged their protest against the Finance Ministry's decision of lowering the interest rate approved by the Central Board of Trustees (CBT).

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