States like Gujarat, West Bengal, Delhi, Rajasthan and Tamil Nadu have said they are not in favour of a hike in Goods and Services Tax (GST) rate on textiles to 12 per cent, from 5 per cent, with effect from January 1, 2022.
GST, which subsumed indirect taxes like excise duty, service tax and VAT, was rolled out from July 1, 2017. The five year period for compensation ends in June 2022.
Minister of State for Finance Bhagwat Kishanrao Karad said banks do have "problems" in lending to police and politicians. Banks see track record before lending to these customers, he added.
In the ongoing winter session of Parliament, the Centre aims to table the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, through which it seeks a ban on all private cryptocurrencies
"It is a business which solely runs on the income generated by sale of tickets, which also gets sold only if the film appeals to the public enough to inspire them to pay money and buy tickets.
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 finance minister also discussed the preparations for the upcoming Climate Change Conference in Glasgow.
As part of her US visit, Sitharaman is also meeting heads of various corporations to explore various investment potential and make in India initiatives.
Sitharaman said India will attract investments and have the purchasing power to demand the best of things from whoever produces it.
Nirmala Sithararam elucidated the intent of the country to be more inclusive in development and growth, Prahlad Singh said after his meeting with the Finance Minister in Boston.
"We need to scale up banking. The need is for at least four-five more SBI sized banks," Sitharaman said.
The Union Finance Ministry released an amount of Rs 2,427 crore to 11 states for the urban local bodies on Friday
Centre on Thursday approved to provide Rs 30,600 crore as state guarantee for the security receipts issued by the bad bank, National Asset Reconstruction Company Ltd (NARCL)
Sitharaman remarked that India attaches great significance to presenting this statement before the global community since it unanimously voices the view of BRICS countries on the critical aspects underpinning current international policy conversations on post-pandemic recovery.
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.
Finance Minister Nirmala Sitharaman on Wednesday said that Centre will not give away ownership of assets under the asset monetisation plan and they will be mandatorily handed back to the government.
To meet the various COVID-related and other health preparedness, Rs 16,463 crore extra spending has been earmarked for the department of health and family welfare. An extra Rs 526 crore has been given to the department of health research for emergency epidemic preparedness and response.
The country's foreign exchange reserves swelled by USD 1.013 billion to touch a lifetime high of USD 610.012 billion in the week ended July 2.
Union Finance Minister Nirmala Sitharaman said that there is no such proposal to cut in excise duty levied on petroleum products for now
The GST Council, chaired by Finance Minister Nirmala Sitharaman and comprising state ministers, on June 12, had slashed tax rate on COVID drugs such as Remdesivir and Tocilizumab as well as on medical oxygen, oxygen concentrators and other COVID essentials.
Finance Minister Nirmala Sitharaman said that the council agreed to go with the recommendations of the Group of Ministers (GoM) that was single point agenda on the council on Saturday.
The 44th meeting of the GST Council, the second this year in the midst of the second wave of Covid pandemic, began on Saturday morning through video conferencing.
The CCI has the mandate to ensure fair competition in the market across sectors and also has powers to clamp down on anti-competitive practices.
New Delhi: Finance Minister Nirmala Sitharaman on Monday said that the Centre is working together with states to protect lives and livelihoods. In a tweet, the Minister said that she…
New Delhi: India hosted a meeting of BRICS Finance Ministers and Central Bank Governors virtually on Tuesday. The meeting, jointly chaired by Finance Minister Nirmala Sitharaman and Reserve Bank of…