The amendment was predominantly an anti-black money measure under which any transaction which is Benami was illegal and the property could be confiscated.
The recommended grant is released by the Department of Expenditure in 12 equated monthly instalments.
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).
For five months in a row, the monthly GST revenues have been more than Rs 1.4 lakh crore
Goods and Services Tax (GST) collections in June, 2021 stood at Rs 92,800 crore.
Himachal Pradesh, Madhya Pradesh, Maharashtra, Odisha, Uttarakhand and Uttar Pradesh have been categorised as Achievers in the ranking.
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.
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.
The revenues for March 2022 are 15 per cent higher than the GST revenues in the same month last year.
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.
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
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.
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.
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.
"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
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.
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.
These states are Andhra Pradesh, Bihar, Chhattisgarh, Haryana, Kerala, Madhya Pradesh, Manipur, Meghalaya, Nagaland, Rajasthan and Uttarakhand.
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.
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.
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 […]
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).
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 […]
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.
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.
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.
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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.
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. […]
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 […]
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.
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
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.
The Centre has modified the Emergency Credit Line Guarantee Scheme (ECLGS) to bring the civil aviation sector under the ambit of the scheme.
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.