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Ministry of Finance News
Ministry of Finance
'Black money' held by Indians in Swiss Banks reports: This is what Finance Ministry said; cites possible reasons for increase in DEPOSITS
Sat, Jun 19, 2021
After reports surfaced on different media platforms claiming that money held by Indians in different Swiss Banks grew exponentially during the pandemic period, primarily between at the end of 2019 and 2020, the government has come up with clarifications.
7th Pay Commission LATEST News: TA alert! Government changes time limit for submission of travelling allowance on retirement. All details here
Thu, Jun 17, 2021
The Ministry of Finance Department of Expenditure released an Office Memorandum this week to inform that the time limit for submission of claims for Travelling Allowance (TA) on retirement has been extended.
Income Tax Portal: INVITED! Written representations regarding glitches on website - Check last date, timing, email id and more from Finance Ministry
Thu, Jun 17, 2021
Finance Minister Nirmala Sitharaman has invited written representations regarding the issues/glitches on the new Income Tax Portal on the email address email@example.com latest by 7 pm on Friday, June 18, 2021.
Finance Ministry to discuss issues in new Income Tax Portal with Infosys on June 22
Wed, Jun 16, 2021
The Ministry of Finance will hold an interactive meeting with Infosys on June 22, 2021, on issues in the new Income Tax e-Filing portal.
ECLGS ALERT! 100% guarantee cover for loans up to Rs 2 crore - Government expands scope of Emergency Credit Line Guarantee Scheme
Sun, May 30, 2021
The Ministry of Finance on Sunday further expanded the scope of the Emergency Credit Line Guarantee Scheme (ECLGS) amid the economic disruption caused by the second wave of the Covid-19 pandemic.
GST Taxpayers' alert: CBIC issues deadline! File your return before THIS date to avoid late fee and interest
Mon, Mar 08, 2021
GST Taxpayers' alert: The Central Board of Indirect Taxes & Customs (CBIC), responsible for administering Indirect Taxes, has issued an alert for taxpayers.
Indian economy outlook 2021: This is why FY 2021 GDP performance will be better than projection—Finance Ministry EXPLAINS
Sat, Mar 06, 2021
With the economic activity gaining momentum post Covid 19 lockdown and rollout of coronavirus vaccines, the Indian economy is likely to do better than the projection of an 8 per cent shrinkage in the current fiscal, says Finance Ministry.
IFSC Authority approves International Financial Services Centres Authority (Banking) Regulations, 2020 - Check its salient features
Thu, Nov 12, 2020
This decision paves the way for putting in place the rules for the various aspects of banking operations that would be permissible at the IFSC.
Govt clears stand on Vodafone arbitration case appeal after 'speculative' report
Thu, Oct 15, 2020
The Ministry of Finance today set the record straight on the Vodafone tax arbitration ruling issue saying that all options are being considered by the government on the matter of appealing against the verdict of the international tribunal. The government was in the process of examining all options and further course of action will be decided “on such examination” a government release said
Big boost to One Nation One Ration Card Scheme! Modi Govt grants additional borrowing permission to these two states
Fri, Oct 02, 2020
One Nation One Ration Card Scheme: The Ministry of Finance has granted additional borrowing permission to two more States, Uttar Pradesh and Andhra Pradesh for successfully undertaking reforms in the Public Distribution System (PDS) and Ease of Doing Business.
5 pc import duty on key component used in TV manufacturing from Oct 1
Thu, Oct 01, 2020
Customs duty of 5 per cent has been imposed on import of a key component used in manufacturing of LED/LCD TVs from October 1, a government notification said on Wednesday
Temp GST compensation retention isn't ''diversion'' of cess: Fin Min sources
Sat, Sep 26, 2020
Reacting to the CAG report regarding `diversion of funds` meant for GST compensation, Finance Ministry sources said on Saturday.
PSU banks on-board 1-cr account holders on digital payment modes in a month
Fri, Sep 25, 2020
The finance ministry on Friday said that public sector banks (PSBs) have on-boarded about one crore customers on digital payment modes in just one month of the launch of 'Digital Apnayen' campaign
Rajan, Acharya suggest disbanding govt's finance arm; Fin Min official denies any such proposal
Thu, Sep 24, 2020
In view of improving performance of public sector banks, former RBI Governor Raghuram Rajan and former Deputy Governor Viral Acharya, in a study paper have suggested slew of measures including disbanding of Department of Financial Services in Ministry of Finance.
Exclusive: Finance Ministry against decriminalising bouncing of cheques under Negotiable Instrument act; Cab Sec to take final call
Sat, Sep 12, 2020
Department of Financial Services (DFS) which comes under the Ministry of Finance is opposed to the suggestion of decriminalising offences related to cheque bouncing cases.
China standoff: FinMin proposes restrictions on foreign investment in pension funds
Sat, Jun 20, 2020
Amid growing tensions between India and China, the finance ministry has proposed putting restrictions on pension fund investments from any of India's bordering countries.
FM Sitharaman shares details of Rs 50,000-crore Garib Kalyan Rojgar Abhiyaan public work scheme for migrants
Thu, Jun 18, 2020
Finance Minister Nirmala Sitharaman has shared details of Prime Minister (PM) Garib Kalyan Rojgar Abhiyaan (GKRA) today via a press conference.
On payments due to MSMEs, Ministry of Finance tells CPSEs to make sure regular payments are cleared expeditiously
Fri, May 15, 2020
The Ministry of Finance has been monitoring, on a monthly basis, the performance of the 32 top Maharatna and Navratna Central Public Sector Enterprises (CPSEs) to review their capital expenditure.
Govt may soon announce second stimulus package worth over Rs 1 lakh crore: Report
Thu, Apr 09, 2020
In support of the expectation, they said worries over fiscal deficit and inflation are overdone, they said, adding that so far the Narendra Modi government has shown prudence on this side.
Govt to borrow Rs 4.88 lakh cr in first half of FY21: DEA Secretary Atanu Chakraborty
Tue, Mar 31, 2020
Government will borrow Rs 4.88 lakh crore in the first half of fiscal 2020-21 starting April 1 to shore up resources amid a war it is wagging to contain economic fallout of coronavirus pandemic, DEA Secretary Atanu Chakraborty said on Tuesday