Finance Ministry
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Govt contains fiscal deficit at 4%; beats its own target
May 17, 2015, 05:45 PM ISTNew Delhi: Bettering its own financial targets, the government has contained the fiscal deficit at 4 per cent of GDP for 2014-15 at Rs 5,01,880 crore.The revenue deficit has also been confined to 2.8 per
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PMO to review steps to check loan frauds on Thursday
May 10, 2015, 05:00 PM ISTNEW DELHI: Amid a rising number of frauds and loan defaults in banking system, the Prime Minister's Office has called a meeting of Finance Ministry officials on Thursday to firm up measures to tackle such
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LPG subsidy not to be taxed: Finance Ministry
India | May 05, 2015, 09:32 PM ISTNew Delhi: Finance Ministry today clarified that LPG subsidy received by individuals in their bank accounts will continue to be exempt from income tax. The clarification follows doubts being raised by tax experts over an
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LPG subsidy not to be taxed: Finance Ministry
May 05, 2015, 08:17 PM ISTNew Delhi: Finance Ministry today clarified that LPG subsidy received by individuals in their bank accounts will continue to be exempt from income tax. The clarification follows doubts being raised by tax experts over an
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Finance Ministry calls meeting of bank heads on April 28
Apr 19, 2015, 04:57 PM ISTNew Delhi: The Finance Ministry has called a meeting of public sector bank chiefs on April 28 for planning implementation of large projects, a release said here on Sunday.The meeting has been called in view
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Taxman to closely scrutinise foreign assets held by Indians: Report
Mar 22, 2015, 06:06 PM ISTNew Delhi: The Income Tax Department will carry out closer scrutiny of those tax statements wherein an assessee has disclosed that he or she holds bank accounts or any other assets abroad before the current
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Govt advises Babu's to not to discuss issue of public interest on phone
India | Mar 16, 2015, 02:29 PM ISTNew Delhi: After scandalous leaks in different ministries of India, it seems that the NDA government has become over alert to avoid any mistake from their end. Government has advised Babu's from different ministries not to
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Government, RBI agreement aim to bring inflation below 6 pc
Mar 03, 2015, 07:26 AM ISTNew Delhi: The Reserve Bank of India (RBI) will aim to bring retail inflation below 6 per cent by January 2016 -- and to around four per cent by fiscal 2016-17, the government's monetary policy
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FinMin asks depts to avoid spending rush in Jan-March quarter
Feb 22, 2015, 12:37 PM ISTNew Delhi: To avoid rush of expenditure in the last quarter of the fiscal, the Finance Ministry has asked all government departments to cap spending in January-March quarter at 33 per cent of the total
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Printing of Budget document begins with 'Halwa' ceremony
National | Feb 19, 2015, 09:59 PM ISTNew Delhi: The process of printing documents for the Budget 2015-16 began today with the ritual 'halwa ceremony', which was attended by Finance Minister Arun Jaitley in the North Block office.It has been a tradition
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Budget 2015: Finance Ministry seeks Rs 100 crore grant to tap Chinese market
Feb 17, 2015, 08:25 AM ISTNew Delhi: With an idea to facilitate manufacturing so that Indian firms create their own value chains, the centre is planning to set up a company to acquire land in CLMV (Cambodia, Laos, Myanmar and
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Budget 2015: Electric cars may become cheaper
Feb 12, 2015, 09:39 AM ISTNew Delhi: Just fortnight before the Union Budget 2015-16, it is expected that Hybrid and electric vehicles may become cheaper. Government is considering a proposal to give incentives to manufacture of such vehicles.Pushing Narendra Modi's
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India expresses concern over monetary policies of advanced economies.
Feb 11, 2015, 09:58 PM ISTThe finance ministry in a statement on Wednesday said, India has urged the G-20 nations to put in place an effective mechanism to deal with negative spillovers of unconventional monetary policies pursued by advanced economies.India
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Rate cut indicates shift in monetary policy stance: Arvind Subramanian
Jan 15, 2015, 10:18 AM ISTNew Delhi: Finance Ministry's Chief Economic Adviser, Arvind Subramanian on Thursday said the 25 basis points, or or 0.25 per cent, rate cut, indicates a shift in Reserve Bank of India's monetary policy stance.In a
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Rajan hails Modi govt announcement on freedom for banks
Jan 11, 2015, 04:37 PM ISTNew Delhi: Reserve Bank Governor Raghuram Rajan has hailed the government direction to state-run banks to act without fear or favour and ignore extraneous considerations in their commercial operations.It was a landmark decision, Rajan said,
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Government committed to fiscal consolidation: Jayant Sinha
Jan 03, 2015, 03:06 PM ISTNew Delhi: Minister of State for Finance Jayant Sinha today said the government is committed to fiscal consolidation but hinted that it may not resort to massive expenditure cuts."We're very confident of our fiscal consolidation
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Finance ministry asks public sector banks to submit capital raising plans: Report
Dec 21, 2014, 12:54 PM ISTNew Delhi: The Finance Ministry has asked all public sector banks to submit capital raising plans following the Cabinet approval to reduction in government's stake in state-run lenders to 52 per cent."Banks have been asked
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GST Bill gets Cabinet nod; likely in Parliament this session
Dec 17, 2014, 10:47 PM ISTNew Delhi: The Cabinet today approved the Constitution Amendment Bill on Goods and Services Tax (GST), clearing the way for its introduction in ongoing session of Parliament to bring about long-pending indirect tax reforms.The Bill
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Government comes to rescue of Spicejet, may ask banks to give loans
Dec 16, 2014, 11:12 PM ISTNew Delhi: Coming to the rescue of the crisis-ridden budget airline SpiceJet, the Civil Aviation Ministry today said it may request Indian banks/financial institutions to extend loans of upto Rs 600 crore to the airline
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Centre, States Break Deadlock on GST; Bill in Current Session
Dec 16, 2014, 11:19 AM ISTNew Delhi: In a last minute compromise deal, the Centre on Monday night decided to keep petroleum out of Goods and Services Tax (GST) in return for states agreeing to entry tax being subsumed in