The 54th GST Council meeting introduced several key changes in GST rates, including reductions for cancer drugs and adjustments for various goods. Notable updates include a rate cut for extruded snacks, a new reverse charge mechanism for metal scrap, and an increase in GST rates for car seats.
The adoption of the report marks a significant milestone for India and is greatly advantageous for the economy due to increased investor confidence. India has been included in FATF's 'regular follow-up' category, a distinction shared by only four other G20 countries.
The RBI decides bank holidays, observing public holidays on second and fourth Saturdays since 2015. No official transition to a five-day workweek is confirmed, emphasizing the lack of Ministry of Finance support. Access the RBI's 2023 holiday list for accurate information.
The gross Goods and Services Tax (GST) revenue collection grew by 12 per cent in April to Rs 1.87 lakh crore.
The Ministry of Finance on Thursday set up a committee to review the pension system for the government employees.
The budget for the next year will be addressing critical issues of high inflation, job creation, boosting demand, and putting the economy on a sustained 8 percent-plus growth path.
The Expenditure department also asked all ministries and departments to clear their dues to the travel agents within 30 days of completion of journey, while officers will have to submit a certificate/undertaking within 72 hours of journey confirming their travel.
Defence Minister also welcomed FM Nirmala Sitharaman's announcement that 68 pc of the defence capital procurement budget would be allocated towards procurement from domestic industry.
Congress general secy and chief spokesperson Randeep Surjewala said the salaried and the middle classes have been affected due to pay cuts and high inflation.
Finance Minister Nirmala Sitharaman is presenting the Union Budget for the year 2022-23 in Parliament today.
Nageswaran was a former member of the Prime Minister’s Economic Advisory Council (PMEAC).
GST Council meet holds importance ahead of Union Budget which is presented on 1st day of February by Finance Minister in Parliament.
The Dept of Expenditure, Finance Ministry has released the grant as per the recommendations of 15th Finance Commission.
Startups in India have grown tremendously and many are now raising money through capital markets. This year itself, more than 16 of them will qualify as unicorns, Sitharaman said.
In addition to expenditure secretary, the position of joint secretary (Budget), one of the key officials in the entire Budget-making process, is also vacant for almost three months.
Finance Minister Nirmala Sitharaman's office has already clarified there is "no ban" on the entry of media persons in the Ministry and that just a procedure has been brought in for "streamlining and facilitating" the entry of media persons.
Finance minister Nirmala Sitharaman leaves for Rashtrapati Bhawan with Budget bag. She will present Budget 2019 at 11 am in the Lok Sabha.
The ministry cautioned the general public not to circulate the order since it is confidential in nature and may attract punitive actions under applicable legal provisions.
Excess expenditure aggregating Rs 1,156.80 crore was incurred during 2017-18 without obtaining prior approval of Parliament, the CAG report ‘Financial Audit’ of the Accounts of the Union Government said.
Shares of Axis Bank settled at Rs 666.50, up 0.53 per cent, while ITC was up 2.02 per cent at Rs 295.40 at close of market hours on January 11.
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