Finance Ministry

Government may undo LTCG on start-up investments 

The move is an effort to incentivise domestic angel and venture capital funds to invest more in new Indian firms and broaden their funding sources. 

published on : 24th October 2020

Finance Ministry puts spoke in AP’s Polavaram wheel

The ministry had also arrived at the cost escalation at 2013-14 price level and submitted it to the finance department along with the 2017-18 price level escalation.

published on : 24th October 2020

Tribal affairs, culture ministries to be worst hit as funding for non-priority Government schemes to be cut

Government officials claim that this will have some impact on the funding for some cultural programmes and grants to NGOs who are working in the segments. 

published on : 21st October 2020

Finance Ministry kick-starts Budget making exercise amid contraction pressure

The economy is projected to contract by a massive 10.3 per cent this year, according to an IMF forecast.

published on : 16th October 2020

Centre to look into Khadi and Village Industries Commission complaints on banks not lending

The Finance ministry has said that it will look into the complaints of the Khadi and Village Industries Commission (KVIC) on banks unwilling to lend to small businesses.

published on : 16th October 2020

Centre to borrow Rs 1.1 lakh crore to make up for states' GST shortfall: Finance Ministry

The Centre borrowing on behalf of states is likely to ensure that a single rate of borrowing is charged and this would also be easy to administer.

published on : 15th October 2020

Banks sanction Rs 1.87 lakh cr to 50.7 lakh MSMEs under credit guarantee scheme

The loan amounts sanctioned by PSBs increased to Rs 81,648.82 crore, of which Rs 68,814.43 crore has been disbursed as of October 5, Sitharaman said.

published on : 8th October 2020

Banks sanction Rs 1.86 lakh crore to 50 lakh MSMEs under credit guarantee scheme

While sharing the progress of implementation of various other schemes under Aatmanirbhar Bharat Abhiyan package, it said banks have approved the purchase of portfolio of Rs 25,505 crore.

published on : 2nd October 2020

Finance Ministry to kick-start budgetary exercise from October 16

The budget will have to address critical issues pertaining to growth contraction and subdued revenue collection triggered by the COVID-19 pandemic.

published on : 2nd October 2020

GST collections rise to highest level since lockdown at Rs 95,480 crore in September

The GST revenue in April was Rs 32,172 crore, May (Rs 62,151 crore), June (Rs 90,917 crore), July (Rs 87,422 crore), August (Rs 86,449 crore).

published on : 1st October 2020

Interest on interest can’t be waived, Finance Ministry expected to tell Supreme Court

Similar feedback was given by the Rajiv Mehrishi panel, whose report is yet to be made public, the official added. 

published on : 29th September 2020

No scrip-wise information needed on ITR for short-term capital gains, says Finance Ministry

It had also introduced a grandfathering mechanism for the computation of LTCG for these shares, for which scrip-wise information is necessary.

published on : 28th September 2020

Finance Ministry may provide capital support to some PSBs in third quarter

The second-quarter result will give an idea as to which bank may require regulatory capital and accordingly recapitalisation bonds would be issued to them, sources said.

published on : 27th September 2020

Temporary retention of GST cess pending reconciliation not diversion: Finance Ministry 

Sources said that in 2017-18, Rs 62,611 crore was collected, out of which the government released full compensation dues of Rs 41,146 crore to the states and union territories (UTs).

published on : 26th September 2020

Five states allowed to hike open market borrowings

According to current rules, states cannot borrow more than 3 per cent of their GSDP.

published on : 25th September 2020
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