Finance Ministry

Appointment Committee of Cabinet appoints 11 new secretaries

The Appointment Committee of the Cabinet has appointed 11 new secretaries to various government departments.

Oct 12, 2017, 05:53 AM IST

Govt to lower number of PSBs to 10-15: FinMin advisor

FinMin advisor said bad loan problems is the first priority and after that the PSU banks could be consolidated.

Oct 06, 2017, 17:34 PM IST
FIEO hails exemption of exporters from giving bank guarantee

FIEO hails exemption of exporters from giving bank guarantee

The finance ministry on Friday stated that the government has decided to exempt small exporters from furnishing bank guarantee for shipping goods and services.

Sep 30, 2017, 17:22 PM IST

Govt retains interest rate on small savings for October- December

Investments in the public provident fund (PPF) scheme will fetch annual rate of 7.8 per cent while Kisan Vikas Patra (KVP) investments will yield 7.5 per cent and mature in 115 months.

Sep 29, 2017, 22:16 PM IST
Govt finalising electoral bonds scheme: Finance Minister

Govt finalising electoral bonds scheme: Finance Minister

The bonds will not carry the name of the donor and routing of the money through banks will ensure that only tax paid money comes into the political system.

Sep 28, 2017, 23:13 PM IST
Merchant exporters send SOS to Finance Ministry, seeks timely refunds

Merchant exporters send SOS to Finance Ministry, seeks timely refunds

Before the GST rollout, exporters had exemptions from Central and state taxes and now they want the same exemption continued against the electronic bond under the GST.

Sep 28, 2017, 18:20 PM IST
Arun Jaitley says planning steps to address growth concerns

Arun Jaitley says planning steps to address growth concerns

Growth in Asia`s third-largest economy slowed to a three-year low of 5.7 percent in the quarter that ended in June, and Jaitley last week said that New Delhi was looking for ways to speed it up.

Sep 25, 2017, 18:04 PM IST

No GST on packaged foods if brand rights foregone

"These notifications, interalia, provide that 5 per cent GST will apply if on brand name (as defined in the notification) an actionable claim or enforceable right in court of law is available," it said.

Sep 23, 2017, 00:45 AM IST

No GST on packaged foods if brand rights foregone

"These notifications, interalia, provide that 5 per cent GST will apply if on brand name (as defined in the notification) an actionable claim or enforceable right in court of law is available," it said.

Sep 23, 2017, 00:45 AM IST
Finance Ministry dispels concerns over high GST transition credit

Finance Ministry dispels concerns over high GST transition credit

Also, some of the credits, which are claimed in TRAN-1 form may be under litigation and?therefore, it may not be available to the assessee to carry forward or for utilisation.

Sep 22, 2017, 16:50 PM IST
Govt eyes extra $7.7 billion spending to halt economic slowdown: Sources

Govt eyes extra $7.7 billion spending to halt economic slowdown: Sources

The official said that the economy was passing through a "transitory phase" after the government`s decision late last year to outlaw old high-value banknotes and after the launch of a nationwide goods and services tax in July.

Sep 21, 2017, 17:16 PM IST
Examining reports on black money commissioned by UPA: Modi govt

Examining reports on black money commissioned by UPA: Modi govt

The NIPFP, NCAER and NIFM reports were received by the government on December 30, 2013, July 18, 2014, and August 21, 2014, respectively.

Sep 20, 2017, 16:37 PM IST

'Finmin considering auto makers concern on hike in GST cess'

The finance ministry is "seriously" considering the demand of automobile manufacturers who have raised concerns over rise in cess on luxury vehicles, Heavy Industries Minister Anant Geete said on Thursday.

Sep 07, 2017, 17:58 PM IST
Finance Ministry sends black money reports to Parliamentary panel

Finance Ministry sends black money reports to Parliamentary panel

The Finance Ministry has sent three study reports on the quantum of black money held by Indians inside the country and abroad to a Parliamentary panel, more than three years after they were submitted to the government.

Sep 04, 2017, 15:11 PM IST

Shiv Pratap Shukla, MoS Finance Ministry - Profile

Here is the profile of Shiv Pratap Shukla, MoS Finance Ministry.

Sep 03, 2017, 22:02 PM IST
Finance Ministry writes to heads of PSU banks on consolidation

Finance Ministry writes to heads of PSU banks on consolidation

A formal communication to CEOs of the banks from the Department of Financial Services last week has set in motion the consolidation process, a senior finance ministry official said.

Sep 03, 2017, 13:37 PM IST
Finance Ministry to decide extending PAN linkage with Aadhaar tomorrow

Finance Ministry to decide extending PAN linkage with Aadhaar tomorrow

Section 139 AA (2) of the Income Tax Act says every person with PAN as on July 1, 2017, and is eligible to obtain Aadhaar must intimate his Aadhaar number to tax authorities.

Aug 30, 2017, 21:10 PM IST
PSU banks take recovery action against 5,954 wilful defaulters

PSU banks take recovery action against 5,954 wilful defaulters

The country's largest lender SBI has taken action against 1,444 such defaulters with outstanding loan of Rs 20,943 crore.

Aug 27, 2017, 17:59 PM IST
'Govt ready to provide capital support for PSU banks' merger'

'Govt ready to provide capital support for PSU banks' merger'

The Union cabinet has approved the setting up of an alternative mechanism, or a panel of ministers, to decide on consolidation proposals for state-run banks.

Aug 27, 2017, 17:53 PM IST
PMJDY initiated financial inclusion, unleased JAM revolution: Arun Jaitley

PMJDY initiated financial inclusion, unleased JAM revolution: Arun Jaitley

JAM, a term coined, and a vision conceptualised, by our Chief Economic Advisor, is nothing short of a social revolution, because it has brought together financial inclusion (PMJDY), biometric identification (Aadhar) and mobile telecommunications. 

Aug 27, 2017, 14:23 PM IST