Tag: Finance Ministry

The Entire Team Has To Work Together: CJI Ramana
Finance Ministry to challenge Ex-CJI Ramana's verdict on Benami Property Act

The amendment was predominantly an anti-black money measure under which any transaction which is Benami was illegal and the property could be confiscated.

  • Thursday, 20 October 2022
Finance Ministry
Govt releases revenue deficit grant instalment to 14 states

The recommended grant is released by the Department of Expenditure in 12 equated monthly instalments.

  • Tuesday, 06 September 2022
Rs 1.62 lakh cr likely to be monetised in current FY 2022-23 under NMP: Finance Ministry

During FY 21-22, transactions with an aggregate monetisation value of about Rs 97,000 crore in terms of accruals or private investments were completed under the National Monetisation Pipeline (NMP).

  • Monday, 08 August 2022
Odishas state GST collection up 45% in June
GST collection in July second highest ever

For five months in a row, the monthly GST revenues have been more than Rs 1.4 lakh crore

  • Monday, 01 August 2022
4 arrested over Rs 124 Crore GST Evasion in Odisha
GST collections up 56 pc to Rs 1.44 lakh cr in June

Goods and Services Tax (GST) collections in June, 2021 stood at Rs 92,800 crore.

  • Friday, 01 July 2022
Seven states among top achievers, Odisha in achiever category in 'ease of doing business' ranking
Seven states among top achievers, Odisha in achiever category in 'ease of doing business' ranking

Himachal Pradesh, Madhya Pradesh, Maharashtra, Odisha, Uttarakhand and Uttar Pradesh have been categorised as Achievers in the ranking.

  • Thursday, 30 June 2022
GST collection touches all-time high in April at Rs 1.68 lakh cr

The gross GST collection has crossed the Rs 1.5 lakh crore-mark for the first time in April 2022 and Rs 1 lakh crore-mark for the 10th month in a row.

  • Sunday, 01 May 2022
FM assures investors of addressing pain points to encourage investments
FM assures investors of addressing pain points to encourage investments

Addressing a roundtable on 'Investing in India's Digital Revolution' in San Francisco, the minister encouraged constant engagement with investors to understand and address their concerns.

  • Wednesday, 27 April 2022
GST Collection At All-Time High Of Rs 1.42 Lakh Crore In March
GST Collection At All-Time High Of Rs 1.42 Lakh Crore In March

The revenues for March 2022 are 15 per cent higher than the GST revenues in the same month last year.

  • Friday, 01 April 2022
Govt To Borrow Rs 8.45 Lakh Crore From Market During April-September Period
Govt To Borrow Rs 8.45 Lakh Crore From Market During April-September Period

Weekly borrowing under treasury bills in the first quarter of 2022-23 is expected to be Rs 33,000-34,000 crore, with net borrowing of Rs 2.40 lakh crore during the quarter.

  • Thursday, 31 March 2022
Dept Of Sports Requests Finance Ministry To Fix GST Rates For Sports Goods At 5%
Dept Of Sports Requests Finance Ministry To Fix GST Rates For Sports Goods At 5%

Pramanik was replying to a question on whether GST on sports equipment is very high and if so, the steps being taken to reduce it under the Fit India initiative

  • Tuesday, 29 March 2022
GST Collection Up 18% At Over Rs 1.33 Lakh Cr In Feb

The revenues for February 2022 are 18 per cent higher than the GST revenues in the same month last year and 26 per cent higher than the GST revenues in February 2020.

  • Tuesday, 01 March 2022
India Economy To Grow At Quickest Pace Among Large Nations: Finmin Report
India Economy To Grow At Quickest Pace Among Large Nations: Finmin Report

Observing that the IMF in its January 2022 update has lowered its global growth estimate for 2022, it said India is yet the only large and major country listed by the IMF whose growth projection has been revised upwards in 2022-23.

  • Wednesday, 16 February 2022
India's Covid Vax Campaign
India's Covid Vax Campaign, Teeming Festivities Lend Renewed Optimism To Economic Recovery: FinMin

Armed with necessary macro and micro growth drivers, the stage is set for India's investment cycle to kickstart and catalyse its recovery towards becoming the fastest growing economy in the world.

  • Wednesday, 10 November 2021
India's Sep Wholesale Price Inflation Eases To 10.66%
India's Sep Wholesale Price Inflation Eases To 10.66%

"The high rate of inflation in September 2021 is primarily due to rise in prices of mineral oils, basic metals, non-food articles, food products, crude petroleum and natural gas, chemicals and chemical products etc, as compared to the corresponding month of the previous year," the ministry said

  • Thursday, 14 October 2021
Finance Ministry Releases Rs 9,871 Cr Grant To 17 States
Finance Ministry Releases Rs 9,871 Cr Grant To 17 States

The states which will receive money from the grant as recommended by the 15th Finance Commission are Andhra Pradesh, Assam, Haryana, Himachal Pradesh, Karnataka, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tamil Nadu, Tripura, Uttarakhand and West Bengal.

  • Monday, 11 October 2021
National Pension System
National Pension System: Here's How You Can Get Rs 1 Crore On Retirement

Want to be a Crorepati by the time you retire? Well, if you have any such plan, then National Pension System (NPS) is something you should not miss out on.

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  • Sunday, 10 October 2021
FinMin Gives Nod To 11 States To Borrow Additional Rs 15,721 Cr

These states are Andhra Pradesh, Bihar, Chhattisgarh, Haryana, Kerala, Madhya Pradesh, Manipur, Meghalaya, Nagaland, Rajasthan and Uttarakhand.

  • Tuesday, 14 September 2021
Public Sector Banks
Pension Of Bank Employees To Go Up, Employers’ Contribution Also Hiked From 10 To 14%

The Central government has given a much-needed relief to families of bank employees. Recently, the Finance Ministry approved a proposal of Indian Banks' Association (IBA) to increase the family pension to 30 per cent of last drawn salary.

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  • Thursday, 26 August 2021
GST Revenue Collection Crosses Rs 1 Lakh Cr In Oct
GST Revenue Collection For July At Over Rs 1.16 Lakh Cr

The government has settled Rs 28,087 crore to CGST and Rs 24,100 crore to SGST from IGST as regular settlement. The total revenue of Centre and the states after regular settlement in the month of July 2021 was Rs 50,284 crore for CGST and Rs 52,641 crore for the SGST.

  • Sunday, 01 August 2021
7th pay commission update on pension hike
7th Pay Commission: No Republic Day Bonanza for Central Govt Employees?

7th Pay Commission: The wait of Central government employees seems to be not going to end soon. There were reports of hike in the minimum pay the CG employees ahead of Republic Day, but it is believed that the wait will be a bit longer. As per reports, the Narendra Modi government is not going […]

  • Monday, 26 July 2021
Nirmala Sitharaman
UN's Survey On Digital & Sustainable Trade Facilitation: India Improves Position Scoring Over 90%

The survey notes that India is the best-performing country when compared to South and South West Asia region (63.12 per cent) and Asia Pacific region (65.85 per cent).

  • Friday, 23 July 2021
Govt to launch pension scheme for elderly with 8% fixed rate

Bhubaneswar/New Delhi: Finance Minister Arun Jaitley will today formally launch the Pradhan Mantri Vaya Vandana Yojana (PMVVY) or a pension scheme for elderly with 8 per cent fixed rate of interest on their savings on Friday. The scheme can be purchased offline as well as online through Life Insurance Corporation (LIC) of India which has […]

  • Thursday, 22 July 2021
FinMin Releases ₹ 75,000 Cr To States, UTs With Legislature As GST Compensation Shortfall

All eligible States and UTs (with Legislature) have agreed to the arrangements of funding of the compensation shortfall under the back-to-back loan facility.

  • Thursday, 15 July 2021
Finance Ministry
FinMin Cautions Of Inflationary Risks On Rising Commodity Prices, Input Costs

As the Indian economy struggles to shed the impact of the second wave of Covid-19, the report suggested that maintaining a fast past of vaccination and plugging the lags in the healthcare infrastructure in the country would be the most sustainable stimulus for the durable recovery of the Indian economy.

  • Friday, 09 July 2021
Finance Ministry
Amid Disinvestment Push, Finmin To Now House Dept Of Public Enterprises

The department, which was under the Ministry of Heavy Industries and Public Enterprises so far, would look into the residual work relating to erstwhile Bureau of Public Enterprises including the Industrial Management Pool.

  • Wednesday, 07 July 2021
Government notifies new Rs 200 notes

New Delhi: The Finance Ministry of Wednesday formally announced the launch of the new Rs 200 note. “The central government hereby specifies the denomination of bank notes of the value of 200 rupees,” a Gazette notification said. The notification has been issued under Section 24 of the Reserve Bank of India Act, 1934, and on the […]

  • Monday, 05 July 2021
Housing societies' services not to get costlier under GST: Government

New Delhi: Services provided by housing societies across the country will not become expensive under the Goods and Services Tax (GST) system, the government said on Thursday. “There are some press reports that services provided by a Residents Welfare Association (RWA) will become expensive under the GST. These are completely unsubstantiated,” a Finance Ministry statement here […]

  • Monday, 05 July 2021
Hostel fee in educational institutions exempt under GST: Government

New Delhi: Refuting reports that hostel fee charged by educational institutions will attract 18 per cent Goods and Services Tax (GST), the Finance Ministry on Thursday said such services provided to students, faculty and staff are fully exempt under the new indirect tax regime. “There are some reports that GST at the rate of 18 per […]

  • Monday, 05 July 2021
RBI monetary policy panel refused meeting with Finance Ministry

Mumbai: The Reserve Bank of India’s Monetary Policy Committee had turned down the Finance Ministry’s invite for a discussion ahead of the panel’s policy review meeting on Wednesday, RBI Governor Urjit Patel has disclosed. The RBI maintained its key interest rate at 6.25 per cent for its fourth successive monetary policy review, dashing the government’s hopes […]

  • Monday, 05 July 2021
Economic Offenders
Government to bring law to confiscate assets of economic offenders

New Delhi: In a bid to deal with economic offenders like liquor baron Vijay Mallya, who flee the country to escape the legal process, the government on Thursday said it has prepared a draft legislation to enable confiscation of their assets. The draft law — Fugitive Economic Offenders Bill, 2017 — has been prepared and […]

  • Monday, 05 July 2021
7th Pay Commission is ‘the last’: No more pay commission in future

Bhubaneswar/New Delhi: The Central government employees will not get their salary and allowances ‘revised’ as per the recommendations of a pay commission in future as the government is reportedly mulling not to form any pay commission after the recent 7th Pay Commission. The government is considering to chalk out an alternative for increasing salaries and […]

  • Thursday, 01 July 2021
Finance Ministry
GST Reduced Tax Rate, Increased Compliance; More Than 66 Cr Returns Filed In 4 Years: FinMin

With the Goods and Services Tax regime completing four years, the Finance Ministry on Wednesday said more than 66 crore GST returns have been filed so far and lower tax rates have helped increased compliance.

  • Wednesday, 30 June 2021
Govt will announce additional measures to boost growth: FM

New Delhi: Finance Minister Arun Jaitley today said the government is considering additional measures to bolster economy that has hit a three-year low of 5.7 per cent in the first quarter of the current fiscal. The minister said an announcement with regard to the additional steps will be made after consulting Prime Minister Narendra Modi. […]

  • Tuesday, 29 June 2021
RBI to issue Rs 200 notes: Finance Ministry

New Delhi: The government on Wednesday gave its go-ahead to the Reserve Bank to issue Rs 200 notes that will ease pressure on lower-denomination currency bills. The finance ministry, in a notification, said that on the recommendations of the Central Board of Directors of the RBI, “the central government hereby specifies the denomination of banknotes […]

  • Monday, 28 June 2021
7th Pay Update: No Hike In DA, DR For Central Govt Employees & Pensioners!

Disapproving all the claims about restoration of Dearness Allowance and Dearness relief (DR) from July 1, the Union Finance Ministry clarified on Saturday (June 26) that no such decision has been made as yet.

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  • Sunday, 27 June 2021
Fin Min
Mkts need not to worry on Fed taper; RBI, govt vigilant: FinMin

The Finance Ministry on Thursday said the US Federal Reserve's decision to trim its monetary stimulus will not affect the Indian markets and all steps would be taken by the RBI and the government to ensure financial stability

  • Monday, 21 June 2021
FinMin Refutes Reports Of Alleged Black Money Held By Indians In Switzerland

The Union Finance Ministry on Saturday said that increase in deposits of Indians in Swiss Banks could be on account of an increase in business of Swiss bank branches located in India and raised Inter-bank transactions, rather than due to an increase in alleged black money held by Indians in Switzerland.

  • Saturday, 19 June 2021
civil aviation
Civil Aviation Now Under ECLGS, Norms Eased To Support Smaller Businesses

The Centre has modified the Emergency Credit Line Guarantee Scheme (ECLGS) to bring the civil aviation sector under the ambit of the scheme.

  • Sunday, 30 May 2021
Finance Ministry
Covid Crisis Poses Economic Risk In Q1 FY22; 'Muted Impact' Likely: FinMin

As states take to lockdowns amid the severe Covid crisis, the Finance Ministry in a report has said that second wave of the Covid-19 poses downside risk to economic activities during April-June, although the impact is expected to be muted compared to that in the first wave.

  • Friday, 07 May 2021