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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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Finance Ministry starts groundwork for fresh bank consolidation

Finance Ministry starts groundwork for fresh bank consolidation

Mon, May 27, 2019

Government sources said that heads of all public sector banks (PSBs) have been asked to be ready with their consolidation plan so that it could be placed before the alternative mechanism (AM) of the new government as soon as it is formed.

Planning ETF investment? Finance Ministry to launch exchange-traded fund this fiscal - Check details

Planning ETF investment? Finance Ministry to launch exchange-traded fund this fiscal - Check details

Sun, May 26, 2019

The government currently has two exchange-traded funds -- CPSE ETF and Bharat-22 ETF -- listed on domestic exchanges. ETFs function like a mutual fund scheme and have underlying assets of government-owned companies.

Modi 2.0: Finance Ministry holds important meet - Know participants, issues and more from the discussion

Modi 2.0: Finance Ministry holds important meet - Know participants, issues and more from the discussion

Fri, May 24, 2019

Union Finance Ministry on Friday held an important meeting to carve out the outlining of fiscal policies for the second tenure of Modi government.

FinMin reworking strategic sale procedure for CPSEs

FinMin reworking strategic sale procedure for CPSEs

Sun, May 12, 2019

Facing a daunting task of meeting the Rs 90,000-crore disinvestment target in the current fiscal, the Department of Investment and Public Asset Management (DIPAM) will focus on outright sale of selected CPSEs, which have been pending for long. NITI Aayog has already identified 35 profitable and loss-making CPSEs which can go in for strategic sale.

Finance Ministry to take call on bank recap after September

Finance Ministry to take call on bank recap after September

Fri, May 03, 2019

The remaining PCA (Prompt Corrective Action) banks will also require fresh funds to come out of the Reserve Bank of India`s (RBI) framework for weak banks. But for this, the banks would have to match the performance parameter targets required for PCA removal and would have to show improved performance.

Global ETF launch: Finance Ministry starts consultation with investors

Global ETF launch: Finance Ministry starts consultation with investors

Sun, Apr 28, 2019

The Finance Ministry has started consultation with global investors for launching CPSE-scrip based Exchange Traded Fund (ETF) in overseas market in the current fiscal, a government official has said.

Government to borrow Rs 4.42 lakh cr in H1 FY2019-20: Economic affairs secy

Government to borrow Rs 4.42 lakh cr in H1 FY2019-20: Economic affairs secy

Fri, Mar 29, 2019

Briefing reporters on the borrowing programme for 2019-20, Economic Affairs Secretary Subhash Chandra Garg said gross borrowing will be Rs 4.42 lakh crore during April-September 2019-20.

Borrowings calender for FY20 to be out today: Here is what you should expect

Borrowings calender for FY20 to be out today: Here is what you should expect

Fri, Mar 29, 2019

The approval from Election Commission has come, and the Department of Economic Affairs (DEA) secretary will lay out the ways and means of fund raising from the market later in the day.

Banks need to raise own capital till June: Sources

Banks need to raise own capital till June: Sources

Fri, Mar 15, 2019

In January, the government got Parliament nod for an additional Rs 41,000 crore to recapitalise public sector banks, over and above the already budgeted Rs 65,000 crore taking the total recapitalisation package for the current financial year to Rs 1,06,000 crore.

New Re 1 coin to be available soon: Check its features and how it is different from old coin

New Re 1 coin to be available soon: Check its features and how it is different from old coin

Tue, Mar 12, 2019

The design of the coins is prepared by the National Institute of Design while Security Printing and Minting Corporation of India Limited and the Ministry of Finance played the key role in the introduction of new coins in the country.

New Rs 2 coin introduced: Check images, features, shape and spot the difference

New Rs 2 coin introduced: Check images, features, shape and spot the difference

Mon, Mar 11, 2019

The design of the coins is prepared by the National Institute of Design while Security Printing and Minting Corporation of India Limited and the Ministry of Finance played the key role in the introduction of new coins in the country.

FinMin may borrow 60% from market for H1, switch bonds up to Rs 70k cr

FinMin may borrow 60% from market for H1, switch bonds up to Rs 70k cr

Sun, Mar 10, 2019

This may not happen this fiscal as this is a poll year and expenditures related to welfare schemes like the direct income for farmers will be executed in the first half, so funds would be needed even though these are budgeted expenditures.

Finance Ministry stares at direct tax revenue shortfall by Rs 70,000 cr to Rs 1 lakh cr

Finance Ministry stares at direct tax revenue shortfall by Rs 70,000 cr to Rs 1 lakh cr

Thu, Mar 07, 2019

Direct tax revenue has totalled to Rs 8.4 lakh crore so far this fiscal and it is doubted if the target could be reached in the next three weeks even though collections pick up in the last few months of the fiscal.

FinMin stares at direct tax revenue shortfall by Rs 70,000 cr to Rs 1 lakh crore

FinMin stares at direct tax revenue shortfall by Rs 70,000 cr to Rs 1 lakh crore

Thu, Mar 07, 2019

The government had met close to two-third of its revenue collection target from direct taxes, garnering Rs 7.88 lakh crore from April 2018 to January 2019. In FY18, direct tax collection was Rs 10.02 lakh crore, which exceeded the then revised budgeted target of Rs 9.8 lakh crore. The income tax e-returns filed for the April-February period has grown nearly 30 per cent compared with the corresponding period in FY18.

Finmin expects 3-4 more banks to come out of RBI's PCA framework this year

Finmin expects 3-4 more banks to come out of RBI's PCA framework this year

Sun, Feb 24, 2019

The RBI may in the next few weeks take a decision to remove these two lenders out of PCA supervision as they had done in the case of Bank of India (BoI), Bank of Maharashtra (BoM) and Oriental Bank of Commerce (OBC) last month after capital infusion in December, sources said.

Special MSME package can help 7 crore accounts, Rs 1 Lakh crore loans: Fin secy

Special MSME package can help 7 crore accounts, Rs 1 Lakh crore loans: Fin secy

Sun, Feb 10, 2019

The estimate from the Department of Financial Services (DFS) secretary Rajiv Kumar is much higher than domestic rating agency Icra's assessment of Rs 10,000 crore. It comes even as some banks have seen a reluctance among the target MSMEs to take advantage of the scheme.

35 CPSEs lined up for strategic sale, DIPAM streamlining processes for faster execution

35 CPSEs lined up for strategic sale, DIPAM streamlining processes for faster execution

Sun, Feb 03, 2019

NITI Aayog recently submitted to the DIPAM the fifth list of CPSEs, profitable as well as non-profitable, which can go in for a strategic sale. This takes the total number of CPSEs identified for strategic disinvestment to 35.

HDCIL, RailTel to TCIL, 10 PSU IPOs lined up next fiscal, plans afoot to meet Rs 90,000 crore disinvestment target

HDCIL, RailTel to TCIL, 10 PSU IPOs lined up next fiscal, plans afoot to meet Rs 90,000 crore disinvestment target

Sat, Feb 02, 2019

"We have about 10 IPOs which are lined up already. Then there are lot of companies which have to meet their minimum public shareholding target. We will also bring new theme based based ETFs.

Finance ministry says it will be 'interim' budget, rejects 'confusion'

Finance ministry says it will be 'interim' budget, rejects 'confusion'

Wed, Jan 30, 2019

Amid speculation over the shape of the Narendra Modi government’s last Budget before the Lok Sabha polls, the finance ministry on Wednesday clarified that it will be called ‘Interim Budget 2019-20’.

Finance ministry's meet with heads of PSU banks before Budget

Finance ministry's meet with heads of PSU banks before Budget

Mon, Jan 28, 2019

Finance ministry's meet the CEOs of public sector banks to take a stock of the banking sector, and discuss ways to improve their financial health.

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