Finance ministry

Respond to PIL over disinvestment: Karnataka HC to Bharat Earth Movers

The Ministry of Finance and DIPAM issued a preliminary information memorandum on January 4 last year for global invitation of EoI regarding the proposed strategic transaction.

published on : 19th January 2022

Centre releases 10th installment of revenue deficit grant worth Rs 9,871 crore 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 states post devolution.

published on : 6th January 2022

Orissa High Court issues notice to Centre over DRT officer appointment 

According to the petition, large numbers of cases are pending in DRT, Odisha, and the interim orders in many cases have expired.

published on : 8th December 2021

Over three crore income tax returns for FY21 filed: Finance Ministry

The department has been issuing reminders to taxpayers through e-mails, SMS and media campaigns encouraging taxpayers to file their income tax returns without further delay.

published on : 5th December 2021

Vodafone files application with finance ministry for settlement of retrospective tax dispute

The government in August enacted a law to end all retrospective taxation imposed on indirect transfer of Indian assets.

published on : 3rd December 2021

Asian Development Bank signs pact for USD 250 million loan for National Industrial Corridor program

Mishra stated that the ADB financing supports India's NICDP that aims to develop world-class industrial nodes that are buttressed by efficient urban agglomerations and multimodal connectivity.

published on : 1st December 2021

About Rs 52,000 crore GST compensation pending to states till September 2021: Finance Ministry

States of Arunachal Pradesh, Manipur, Mizoram and Nagaland do not have any GST compensation pending from the Centre.

published on : 29th November 2021

GoM to meet on November 27 to finalise report on GST rate rationalisation

The government had formed a Group of Ministers in September, headed by Karnataka Chief Minister Basavaraj Bommai to propose rationalisation of tax rates.

published on : 24th November 2021

Centre to complete divestment of 5-6 PSUs; LIC IPO may delay till June 2022

Sources from the ministry said the government is yet to arrive at the valuation of LIC and while there is target to arrive at valuation by December.

published on : 18th November 2021

Fuel duty cut to soften inflationary pressures: Finance Ministry

The recent cut in central excise duty on petrol and diesel prices is expected to soften inflationary pressures exerted by rising crude oil prices, the ministry said in its monthly economic report.

published on : 11th November 2021

India on way to becoming fastest growing economy in world: Finance Ministry report

The Economic Survey 2020-21, released in January this year, had projected GDP growth of 11 per cent during the current financial year ending March 2022.

published on : 10th November 2021

Finance Ministry invites suggestions on taxation from industry and trade bodies

Currently, more than 100 exemptions and deductions of different nature are provided in the Income-Tax Act.

published on : 5th November 2021

Finance Ministry to nix tax exemptions to rationalise rate

The ministry is currently assessing both the economic costs and benefits of schemes before taking a call on what to keep and what to nix, sources said. 

published on : 3rd November 2021

Banks sanction Rs 11,168 crore under credit outreach initiative

The loans under the Credit Outreach Programme are over and above those sanctioned and disbursed under the various central government loan guarantee schemes, Finance Minister's office said.

published on : 26th October 2021

DA hike to 31 per cent effective from July 1: Finance Ministry

Union Cabinet had last week approved a 3 per cent hike in dearness allowance (DA) for central government employees and dearness relief (DR) for pensioners over the 28 per cent existing rate.

published on : 26th October 2021
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