Finance Ministry
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No separate Rail Budget from next fiscal, Finance Ministry agrees for its merger with General Budget
Aug 13, 2016, 11:14 AM ISTStarting next financial year, there will be no separate Rail Budget. It is believed that the Ministry of Finance has agreed to the suggestions of Bibek Debroy (Member, NITI Aayog) panel, which among other things, had suggested phasing out separate Ra
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No impact on inflation even if GST rate is 18-20%: Finance Ministry
Aug 05, 2016, 08:32 AM ISTThe Ministry of Finance has said that all efforts are being made to roll out GST from April 1, 2017, and allayed fears that it will have an impact on inflation even if the rate is kept at 20 percent.
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Allotment of PAN, TAN in a day as govt fast-tracks application processes
Jul 22, 2016, 05:00 PM ISTThe Finance ministry today said that new application processes have been introduced to fast-track allotment of Permanent Account Number (PAN) and Tax deduction Account Number (TAN) for both individual and company applicants. "For fast tracking
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Govt pumps Rs 23K crore lifeline into 13 public sector banks for FY17
Jul 19, 2016, 04:55 PM ISTNew Delhi: The Ministry of Finance today allocated Rs 22,915 crore capital to as many as thirteen public sector banks including SBI, PNB and IOB to give a boost to their lending operations and ensure
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Black money scheme: Govt allows payment of tax and penalty in instalments in revised timeline
Jul 14, 2016, 09:48 PM ISTNew Delhi: The government on Thursday launched an ‘EMI scheme’ over an extended period for the payment of tax and penalty for the black money disclosed under the one-time compliance scheme. The government has
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Govt sets up committee to examine feasibility of new financial year
Jul 06, 2016, 09:18 PM ISTNew Delhi: A committee headed by former CEA Shankar Acharya has been set by the government to examine the desirability and feasibility of having a new financial year, replacing the existing April-March period. The
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Union government raises financial limits of ministries up to Rs 500 crore
Jun 28, 2016, 05:38 PM ISTNew Delhi: The union government today upwardly revised the financial limits of its ministries and departments, empowering ministers to clear projects worth up to Rs 500 crore -- up from the earlier Rs 150 crore.
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Decision on increasing EPFO investment in ETFs on July 7
Jun 26, 2016, 05:26 PM ISTHyderabad: Union Labour Minister Bandaru Dattatreya has indicated that retirement fund body EPFO’s investments in Exchange Traded Funds (ETFs) would be increased and a decision would be taken at the Central Board of Trustees meeting
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India will support companies doing business in UK: Jayant Sinha
Jun 24, 2016, 08:28 PM ISTGovernment will support Indian companies operating in the UK to help them do business with the European Union post-Brexit, Minister of State for Finance Jayant Sinha said today.
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Tracking developments in UK, India well prepared for 'Brexit': Finance Ministry
Jun 23, 2016, 01:09 PM ISTNew Delhi: As Britons vote today to decide Britain’s fate with the European Union, India is well prepared to handle any eventuality, a top official of the Finance Ministry said today. "If Brexit happens, India
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Finance Ministry allows premature PPF withdrawal for education, medical treatment
Jun 21, 2016, 08:52 PM ISTNew Delhi: In what would come as a relief for many, a new set of rules has been announced by the Finance Ministry today for premature withdrawal of the Public Provident Fund (PPF) account deposit
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In a first, panel headed by Cabinet Secretary to recommend candidates for RBI Guv post
Jun 11, 2016, 05:31 PM ISTFor the first, a panel of finance experts will suggest the names for the Reserve Bank of India Governor candidacy to the government.
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Apple’s single brand proposal: Commerce Ministry to discuss with Finance Ministry
May 30, 2016, 08:56 PM ISTNew Delhi: To seek more clarity, the Commerce Ministry will discuss the issue of exempting Apple from local sourcing norms with the Finance Ministry, which has rejected the proposal, even as the former is against
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Revenue dept taking steps to boost growth, jobs: FinMin
May 08, 2016, 04:37 PM ISTNew Delhi: The Finance Ministry today listed out steps taken by the Revenue Department to boost growth and employment by giving relief to small tax payers, businesses and professionals. In a statement, the ministry said
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FIPB has sought Defence Ministry inputs on FDI in Agusta, Tata JV
May 03, 2016, 08:45 PM ISTNew Delhi: As AgustaWestland remains mired in controversy, the Finance Ministry has sought inputs from the Defence Ministry about a FDI proposal from the Italian company for its joint venture with Tata Sons to assemble
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The curious case of India’s crorepatis: 25,645 luxury car sales but only 18,359 millionaire taxpayers
May 03, 2016, 03:12 PM ISTNew Delhi: The case of the mismatch between the earnings of the majority of the billion plus Indians versus a tiny majority of India’s uber rich is no hidden secret. Sadly, the government does not
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Over 55 per cent individual assesses paid no tax: Finance Ministry
May 02, 2016, 08:23 PM ISTNew Delhi: More than 55 percent of the 28.77 million individual assesses in India who filed their returns for 2012-13 paid zero tax, while three at the top-end had to shell out as much as
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Panama Papers: Strict investigation going on, says Jayant Sinha
National | Apr 11, 2016, 04:11 PM ISTFinance Ministry today said that a strict investigation into 'Panama Papers' is on to find out if illegal activities have taken place in overseas Indian accounts
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GST row: Arun Jaitley questions the extent to which RS can block economic decision-making
Apr 07, 2016, 01:55 PM ISTNew Delhi: The finance minister said stand on crucial economic legislations should not depend on where one sits in Parliament. "For instance, I am faced with a reversal of position when I accept some
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Mallya effect: Govt tells PSBs to sell guarantors’ assets if firms don't repay debt
Mar 19, 2016, 04:17 PM ISTThe government has now directed all government-owned banks to immediately invoke personal guarantees of promoter directors and reco