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Finance Ministry

Finmin reschedules review meeting with heads of PSU banks to May 6 on financial performance

Finmin reschedules review meeting with heads of PSU banks to May...

Wed, Apr 16, 2025

Public Sector Banks (PSBs) have posted the highest-ever net profit of Rs 1.29 lakh crore in the April-December period of the current fiscal.

Finance Ministry to implement 'One State-One RRB' soon to achieve better efficiency

Finance Ministry to implement 'One State-One RRB' soon...

Mon, Apr 07, 2025

Among states that will see consolidation of RRBs include Andhra Pradesh, which has the maximum number of RRBs (4), Uttar Pradesh and West Bengal (3 each) and Bihar, Gujarat, Jammu & Kashmir, Karnataka, Madhya Pradesh, Maharashtra, Odisha and Rajasthan (2 each).

Pickup in private investment can help India overpower global risks to growth: Finance Ministry

Pickup in private investment can help India overpower global risk...

Wed, Mar 26, 2025

Domestic private sector capital formation, focused on India's solid fundamentals and economic prospects, will be an important driver of economic growth in FY26, it said.

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Will GST implementation change FinMin's Budget plans?

Will GST implementation change FinMin's Budget plans?

Thu, Oct 06, 2016

The Cabinet has also given its permission to the merger of the Plan and the Non-Plan classification in the Budget and Accounts.

FinMin plans to take away RBI's debt management role in two years

FinMin plans to take away RBI's debt management role in two...

Wed, Oct 05, 2016

In about two years, the cell would be upgraded to a statutory public debt management agency.

Finance Ministry begins separating public debt management from RBI

Finance Ministry begins separating public debt management from RB...

Wed, Oct 05, 2016

"This interim arrangement will allow separation of debt management functions of RBI to PDMA in a gradual and seamless manner, without causing market disruptions. The PDMC shall be upgraded to a statutory PDMA, in about 2 years," it said.

Rate cut to boost liquidity, achieve near 8% growth in FY17: FinMin

Rate cut to boost liquidity, achieve near 8% growth in FY17: FinM...

Tue, Oct 04, 2016

In the first monetary policy review under RBI Governor Urjit Patel, the interest rate was today cut by 0.25%.

Index of Eight Core Industries rises 3.2% in August

Index of Eight Core Industries rises 3.2% in August

Fri, Sep 30, 2016

Index of Eight Core Industries comprising 38% of weight of items included in Index of Industrial Production (IIP) rose 3.2% in August 2016 as againt the same month of last year.

India's fiscal deficit reaches 76.4% in August

India's fiscal deficit reaches 76.4% in August

Fri, Sep 30, 2016

India's fiscal deficit for April to August 2016 period reached Rs 4,07,820 crore as against budgeted target of Rs 5,33,904 crore. Fiscal deficit in April-July period stood at Rs 3,93,487 crore.

With three days to go, Income Declaration Scheme may not reap desired results

With three days to go, Income Declaration Scheme may not reap des...

Wed, Sep 28, 2016

The Indian government has sent out about 700,000 notices to suspected tax evaders to coax them to declare hidden income and assets, promising they won`t be pursued by the authorities if they pay a

FinMin to consult Election Commission before finalising Budget date

FinMin to consult Election Commission before finalising Budget da...

Sun, Sep 25, 2016

The Finance Ministry has proposed that the Budget presentation be fixed for February 1.

RBI shifts issue date of Sovereign Gold Bond to Sept 30 amid solid response

RBI shifts issue date of Sovereign Gold Bond to Sept 30 amid soli...

Thu, Sep 22, 2016

With over 2 lakh applications for the Sovereign Gold Bond (SGB), the Reserve Bank of India (RBI) on Thursday shifted the issue date by a week to September 30 for "smooth" uploading of the subscript

Stay all operations of GSTN, Subramanian Swamy writes to PM Modi

Stay all operations of GSTN, Subramanian Swamy writes to PM Modi

Thu, Sep 22, 2016

He also accused certain Finance Ministry officials and as the Chairman of the GSTN of telling the press that the GSTN as presently constituted will continue without hindrance.

GST Council to hold its first meeting today

GST Council to hold its first meeting today

Thu, Sep 22, 2016

The council will decide on long pending issues of threshold limit for applicability of the tax as well as the limit for dual control between Centre and states.

Nirmala Sitharaman rubbishes rupee devaluation claims

Nirmala Sitharaman rubbishes rupee devaluation claims

Thu, Sep 15, 2016

Indian Rupee (INR) fell to its two-week low of Rs 67.065 as media reports suggested that Indian Government might look to devalue the currency.

'Govt considering EPFO's voluntary pension scheme proposal'

'Govt considering EPFO's voluntary pension scheme propo...

Fri, Sep 02, 2016

The Labour Ministry is actively considering proposal of a voluntary pension scheme mooted by the Employees' Provident Fund Organisation (EPFO), a senior government official has said.

Heavy, medium-sized vehicles to be brought under scrapping policy in 1st phase: Gadkari

Heavy, medium-sized vehicles to be brought under scrapping policy...

Wed, Aug 24, 2016

The policy will help in saving fuel as old vehicles tend to consume more fuel and will decrease our dependance on imports, Gadkari said.

Illicit Gold: India's smugglers shut out refiners, banks

Illicit Gold: India's smugglers shut out refiners, banks

Tue, Aug 23, 2016

Indian gold refiners just months ago were ramping up capacity and struggling to secure enough ore from miners.

Govt may present next Union Budget in January

Govt may present next Union Budget in January

Mon, Aug 22, 2016

GST rollout would also subsume various exemptions and cesses, which would obliviate the need for their presentation in the Budget.

Government to bear card payment transaction costs

Government to bear card payment transaction costs

Tue, Aug 16, 2016

In order to promote cash-less economy, the government has said it will bear the transaction cost for all payments made to it through debit or credit cards and net banking.

Govt may merge Railway, Union budget from next fiscal

Govt may merge Railway, Union budget from next fiscal

Sun, Aug 14, 2016

In June, Prabhu wrote a letter to the Prime Minister's Office (PMO) after NITI Aayog's member Bibek Debroy recommended the move.

Tax concessions may cost India Rs 6 lakh crore this year

Tax concessions may cost India Rs 6 lakh crore this year

Wed, Aug 03, 2016

“No sector wise details of industry are however maintained and section wise details of revenue impact of direct tax incentives is presented before Parliament with Budget in the form of document titled, 'Statement of Revenue Impact of Tax Incentives under the Central Tax System',” said Santosh Kumar Gangwar, Minister of State (MoS), Finance Ministry.

Govt misses disinvestment target by over Rs 45,000 crore in last financial year

Govt misses disinvestment target by over Rs 45,000 crore in last...

Tue, Aug 02, 2016

The budget estimate for disinvestment during FY2015-16 was Rs 69,500 crore which comprised of Rs 41,000 crore from disinvestment of CPSEs and Rs 28,500 crore from strategic disinvestment.

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