Finance ministry

Finance Ministry allows Madhya Pradesh to raise Rs 1,423 crore extra fund through market borrowing

The Centre had in May last year enhanced the borrowing limit of the states by 2 per cent of their GSDP and half of this special dispensation was linked to undertaking citizen-centric reforms.

published on : 19th January 2021

Finance Ministry releases weekly instalment of Rs 6,000 cr to states to meet GST compensation shortfall

The Centre had set up a special borrowing window in October 2020 to meet the estimated shortfall of Rs 1.10 lakh crore in revenue arising on account of implementation of Goods and Services Tax.

published on : 18th January 2021

Centre looks at Bank Investment Company model after RBI concern on zero coupon bonds for PSB recap

Sources said that the RBI has raised some issues with regard to calculation of an effective capital infusion made in any bank through this instrument issued at par.

published on : 16th January 2021

RBI raises concerns over zero-coupon bond for public sector banks recapitalisation

To save interest burden and ease the fiscal pressure, the government has decided to issue zero-coupon bonds for meeting the capital needs of the banks.

published on : 10th January 2021

V-shaped economic recovery, vaccine approval cause for optimism: Finance Ministry

Downside risks, however, remain due to the spread of a new variant from the UK  and fatigue from social distancing guidelines, the Ministry noted.

published on : 6th January 2021

Approval of COVID vaccine lends strength to optimism on health, eco fronts: Finance Ministry report

The gross GST revenue collected in December 2020 was Rs 1,15,174 crore, the highest since the introduction of Goods and Services Tax from July 1, 2017.

published on : 5th January 2021

Commerce department seeks financial support from Finance Ministry for VRS scheme of MMTC

The company needs money to pay its employees who are opting for VRS and due to its weak financial conditions, MMTC is unable to pay the due amount.

published on : 3rd January 2021

Finance Ministry, RBI to thrash out differences on NPAs

The RBI’s stance is evident in its report on banking trends in India for FY20 published recently, hinting at more money required for bank recapitalisation.

published on : 2nd January 2021

Government liabilities rise to Rs 107 lakh crore in Q2: Finance Ministry

Public debt accounted for 91.1 per cent of total outstanding liabilities at end-September 2020, as per the latest quarterly report on public debt management.

published on : 31st December 2020

Centre releases Rs 6000 crore loan to states to meet GST compensation shortfall

The government had set up a special borrowing window in October 2020 to meet the estimated shortfall of Rs 1.10 lakh crore in revenue arising on account of implementation of GST.

published on : 28th December 2020

Centre allows additional borrowings worth Rs 19,459 cr for six states that satisfy riders

The first 0.5 per cent can be borrowed without any condition, while next 0.5 per cent would have to be made through the options offered by the Centre to meet the GST compensation shortfall.

published on : 26th December 2020

Modi government mulls bad bank idea as NPA fears soar

Top officials said the proposal is still being studied though both bankers and industry chambers are lobbying for it.

published on : 26th December 2020

Finance Ministry allows Rajasthan to borrow Rs 2,731 crore more post ease of doing business reform

The ease of doing business is an important indicator of the investment friendly business climate in the country.

published on : 26th December 2020

Budget to up spending, but low tax inflow a worry

Finance Ministry mandarins working on the coming year’s budget want to spend big on infrastructure, healthcare, defence, and incentives for industry.

published on : 25th December 2020

In-person verification must for GST registration: Finance Ministry

The Finance Ministry has notified new norms for GST registration in a bid to check the menace of fake invoices.

published on : 24th December 2020
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