Finance ministry

Finance Minister contemplating proposals benefitting middle class

The recent statement of Finance Minister Nirmala Sitharaman that she was aware of the pressures of the middle class has raised hope that some incentives may come for them in the upcoming Budget.

published on : 27th January 2023

RBI's report on inflation control can't be made public, says Centre

The government's stand comes at a time when retail inflation fell to an 11-month low of 5.88 per cent in November, mainly due to softening prices of food items.

published on : 12th December 2022

Net direct tax collection grows 24 per cent to Rs 8.77 lakh crore: Finance Ministry

The Budget estimated direct tax collection at Rs 14.20 lakh crore this fiscal, higher than Rs 14.10 lakh crore collected last fiscal (2021-22).

published on : 12th December 2022

Challenges in casting the tax net wider

That is a minuscule number of taxpayers in a country with a population of 1.4 billion.

published on : 28th November 2022

Budget 2023-24: Miners' body FIMI seeks withdrawal of export duty on bauxite 

Bauxite is the principal ore of aluminum and therefore the mineral is the essential raw material for aluminium producers.

published on : 27th November 2022

Nirmala Sitharaman to meet state FMs for pre-budget consultation on Friday

The meeting is part of the customary meetings that the minister undertakes with stakeholders before the presentation of the Union Budget on February 1.

published on : 21st November 2022

Budget should focus on job creation, broaden tax base: India Inc to Nirmala Sitharaman

To boost job creation, CII suggested that an employment-linked incentive scheme be introduced and the government could consider an urban employment guarantee scheme.

published on : 21st November 2022

FinMin extends ITR filing deadline for companies till November 7 

The last date for filing ITR by companies who are required to get their accounts audited was October 31.

published on : 26th October 2022

Worsening geo-political crisis could fuel inflation, cautions FinMin report

Finance Ministry's Economic Review said retail inflation for India during these six months stood at 7.2 per cent, lower than the world inflation of 8 per cent, as represented by the median inflation.

published on : 22nd October 2022

PM-Kisan scheme: Kerala told to recover Rs 31 crore from ‘ineligible’

Tax payees, farmer families holding higher posts, state or Central staff are considered ineligible

published on : 3rd October 2022

Govt cuts FY23 borrowing by Rs 10,000 crore

Centre on Thursday said that it will borrow Rs 5.92 lakh crore in the second half of the year

published on : 30th September 2022

No premature closure of Senior Citizens' Savings Scheme account on death: Govt

The clarification came as it has been noticed in some cases that on the death of the account holder, operating agencies are closing the SCSS account by treating it as premature closure.

published on : 29th September 2022

RBI, Finance Ministry ask banks, trade bodies to push cross-border rupee trade 

It was stressed during a meeting that banks should connect with their foreign counterparts for opening special rupee vastro accounts to facilitate cross-border trade in Indian currency.

published on : 7th September 2022

‘No change in tax law for overseas G-sec listing’: Finance Ministry

Some indices sought exemption from capital gains tax as condition for listing these bonds

published on : 6th September 2022

Govt to raise Rs 20K crore via green bonds: Finance Ministry

Meanwhile, the government sources said with the issuance of green bonds, the market will get diversified as at present there are investors for normal bonds only.

published on : 6th September 2022

Taxmen can launch prosecution in cases of over Rs 5 crore GST evasion

Prosecution should normally be launched where the amount of tax evasion, or misuse of ITC, or fraudulently obtained refund is more than Rs 5 crore, it said.

published on : 2nd September 2022

FinMin issues consolidated overseas investment rules to promote ease of doing business 

The consolidated rules bring in a host of changes that could impact merger and acquisition decisions of Indian residents, including corporates and startups.

published on : 23rd August 2022

Finance Ministry may issue green bonds in FY23

Sitharaman had announced the govt’s plan to issue these bonds in her budget speech 

published on : 18th August 2022

Government to hike import duty on goods that can be manufactured in India

“Why would you import something which can be produced in the country,” said a finance ministry official.

published on : 12th August 2022

CAG raises concerns over Centre’s ballooning debt, interest burden

Meanwhile, data released by the department of economic affairs in the Finance Ministry showed interest paid on debt has increased to Rs 8.05 lakh crore in FY22 from Rs 6.80 lakh crore in FY21.

published on : 11th August 2022
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