Finance Ministry

Finance Ministry asks PSU general insurers to rationalise branches, cut expenses

The finance ministry has asked these companies to rationalise branches and also trim administrative layers wherever possible, sources said.

published on : 14th October 2021

Finance Ministry releases Rs 9,871 crore grant to 17 states

The grants are released as per the recommendations of the 15th Finance Commission in monthly installments to meet the gap in revenue accounts of the states post devolution.

published on : 11th October 2021

Polavaram Project rejects bills worth Rs 1,086 crore

Officials said Polavaram authorities rejected the bills because of component-wise restrictions and other reasons such as quantities/components not covered in the previous detailed project report.

published on : 11th October 2021

Kerala finance ministry tells various departments to resolve crisis in cashew sector

The secretaries of the departments concerned were directed on the basis of a petition seeking an immediate solution to the crisis in the sector.

published on : 11th October 2021

Govt releases Rs 40,000 crore for states, UTs

Finance Ministry on Thursday released an amount of Rs 40,000 crore to the states and Union Territories under the back-to-back loan facility to meet the shortfall in GST compensation.

published on : 8th October 2021

Lebanon resumes contacts with IMF over bailout program

Deep disagreements festered within the Lebanese delegation during last year's negotiations with the IMF, with the government on one side and the central bank and local lenders on the other.

published on : 4th October 2021

Union Government widens scope of ECLGS, extends scheme deadline till March

Finance Ministry in May expanded the scope of the Rs 3 lakh crore Emergency Credit Line Guarantee Scheme by including concessional loans to hospitals for setting up on-site oxygen generation plants.

published on : 29th September 2021

Ministerial panels set up to review GST exempt list, identify evasion sources

The Group of Ministers (GoM) on rate rationalisation would also review inverted duty structure, recommend rationalisation measures, including merger of tax rate slabs.

published on : 27th September 2021

Net direct tax mop-up grows 74% at Rs 5.70 lakh crore so far this fiscal

In the previous fiscal (2020-21), the net collection was over Rs 3.27 lakh crore.

published on : 24th September 2021

FinMin notifies procedure to issue duty credit for goods exported under RoDTEP

The rates for 8,555 products - such as marine, agriculture, leather, gems and jewellery - were announced under the RoDTEP scheme in August this year.

published on : 24th September 2021

Govt withdraws COVID-linked expenditure restrictions

All ministries and departments are now permitted to spend as per their own approved monthly expenditure plan or quarterly expenditure plan until further orders during the remaining part of this FY.

published on : 24th September 2021

Modi government plans to seek ratings upgrade from Moody’s

Finance ministry officials plan to meet the Moody’s to provide details on how India will meet its budget targets for the current fiscal year, according to Bloomberg, citing sources.

published on : 24th September 2021

Finance Ministry to pitch for rating upgrade in meeting with Moody's next week

There was a meeting with Fitch a couple of months ago, they said, adding next week the ministry officials will meet Moody's representatives.

published on : 23rd September 2021

Finance Ministry to kick-start budgetary exercise from October 12

The Budget Estimates (BE) for 2022-23 will be provisionally finalised after the expenditure secretary completes discussions with other secretaries and financial advisers.

published on : 20th September 2021

Finance Ministry asks Indian Banks' Association to play "pivotal" role in resurgence of economy

IBA is involved in finding new solutions for the customers especially during the pandemic and has come up with guidelines for the cohesive functioning of the entire banking system, the CEO said.

published on : 15th September 2021
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