Ministry of Finance

Budget 2020: FM announces new income tax slabs, simplifies direct tax regime

Finance Minister Nirmala Sitharaman today slashed the personal income tax rate for individuals for fiscal year 2020-21. Under the new regime, taxpayers will pay 10%, 15%, 20% and 25% for incomes between Rs 5-7.5 lakh, Rs 7.5-10 lakh, Rs 10-12.5 lakh and Rs 12.5-15 lakh.

Feb 01, 2020, 15:26 PM IST

Budget 2020: Finance Minister Nirmala Sitharaman arrives at the Ministry of Finance

Union Finance Minister Nirmala Sitharaman on Saturday morning reached the Ministry of Finance in the North Block, ahead of the presentation of the Union Budget 2020-2021 in Parliament.

Feb 01, 2020, 10:38 AM IST

Centre says no official estimate of the amount of black money in India

Thakur was replying to a  question by Congress Rajya Sabha MP Ranjib Biswal who demanded details from the Ministry of Finance regarding black money in India. The question asked the government to state the estimated amount of black money inside and outside the country, as on date.

Dec 10, 2019, 16:53 PM IST

5W1H: Government to present interim budget on February 1

The Ministry of Finance has clarified that February 1 would see only an interim budget being announced by interim finance minister Piyush Goyal.

Jan 30, 2019, 17:06 PM IST

Banks shut for six days? Finance Ministry clears the air

Rumours have been doing the rounds on social media that banks across the country would remain closed for business in the first week of September.

Aug 31, 2018, 16:20 PM IST

Rahul Gandhi mocks PM Narendra Modi for 'mass-bunk' at Finance Ministry

Both the Finance Minister and the Finance Secretary are out of action for one reason or another.

May 08, 2018, 13:44 PM IST

Loans worth Rs 2.41 lakh crore of crony corporates written-off, confirms Modi government

The government was asked to furnish details of the corporates whose loans were written off and the reasons for it being done.

Apr 04, 2018, 19:01 PM IST

Amid Doklam stand-off, Defence Ministry seeks additional Rs 20,000 crore

The Defence Ministry has sought Rs 20,000 crore in addition to the around Rs 2.74 lakh crore budgetary allocation.

Aug 09, 2017, 22:05 PM IST

Parliamentary panel asks govt for details on Air India disinvestment decision

A Parliamentary panel has sought details from the government on giving in-principal approval to its divest stake in Air India even as modalities are being worked out for the proposed divestment to revive the debt- laden national carrier.

Jul 09, 2017, 17:47 PM IST

New one rupee notes to be in circulation soon

New one rupee notes with predominantly pink-green on obverse and reverse in combination with other colours will be soon put into circulation.

May 30, 2017, 21:09 PM IST

FICCI urges government to put curbs on counterfeit goods

Industry body Federation of Indian Chambers of Commerce and Industry (FICCI) on Monday urged the government to take swift action to clamp down on the rising illicit trade in smuggled and counterfeit goods in India.

May 15, 2017, 16:53 PM IST

Government exceeds 2016-17 tax target, highest in last 6 years

The central government on Tuesday reported a total tax collection of Rs 17.10 lakh crore during 2016-17 -- an increase of 18 per cent over 2015-16.

Apr 04, 2017, 18:35 PM IST

Parliamentary Panel asks Finmin to work out turnaround plan for IDBI

A Parliamentary Panel has asked the Finance Ministry to work out a 'transformational plan' for IDBI Bank, which is facing mounting bad loans, in such a manner that it does not surpass the 'point of recoverability'.

Mar 20, 2017, 17:24 PM IST

Crisil launches new credit rating framework for infrastructure projects

In order to facilitate greater participation from long-term investors and lenders, rating agency Crisil on Thursday announced launch of a new credit rating system for infrastructure projects.

Jan 12, 2017, 17:08 PM IST

I-T department rejects declaration of Rs 2,00,000 crore made under IDS by Mumbai family

The Income Tax department has rejected declaration of Rs 2,00,000 crore made under IDS made by a family of four from Mumbai 

Dec 04, 2016, 18:52 PM IST

Converting black money into legal tender: Govt warns against fraudulent cash deposit, withdrawal

Amid scathing attack from the Opposition over its sudden decision to ban old currency, the Narendra Modi government has now warned people against fraudulent cash deposit and withdrawal to convert black money into legal tender.

Nov 18, 2016, 16:15 PM IST

Demonetisation: Using indelible ink may affect bypolls process, EC tells govt

Madhya Pradesh, West Bengal, and Arunachal Pradesh are slated to go for Assembly polls on November 19.

Nov 18, 2016, 13:56 PM IST

Finance Ministry asks RBI to set up special cell to monitor fake currency

Concerned over circulation of fake currency in the country, Finance Ministry today asked the Reserve Bank to set up a special cell to monitor such notes.

Nov 12, 2016, 22:51 PM IST

Income Tax dept to block PAN, LPG subsidy, loans of defaulters

In order to cripple and check the activities of wilful tax defaulters, the Income Tax department has decided to “block” Permanent Account Number (PAN) of such entities, get their LPG subsidy cancelled, and take measures to ensure that they are not sanctioned loans.

Jun 21, 2016, 13:38 PM IST

MHA approves creation of additional 4227 posts in Delhi Police

The newly sanctioned posts will comprise of SI/ASI-1409, head constable-1409 and constable-1409.

Dec 31, 2015, 18:11 PM IST