Tag: Finance Ministry

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.