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finance ministry
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Petrol prices touch record high at ₹84.20 a litre in NCR
By Utpal Bhaskar | Hindustan Times, New Delhi, New Delhi
PUBLISHED ON JAN 08, 2021 12:47 AM IST
Central and state taxes and the commission of dealers are added to the refinery gate price of auto fuel to arrive at the retail price.
Nirmala Sitharaman reviews progress of projects worth Rs 3.6 lakh cr under National Infrastructure Pipeline
By Press Trust of India| Posted by: Harshit Sabarwal | New Delhi
PUBLISHED ON JAN 06, 2021 07:30 PM IST
During the meeting, the finance minister asked the two ministries/ departments to push infra expenditure by effectively implementing all NIP projects in time and ensure quick resolution of issues in coordination with state governments and other ministries. Secretaries of these two departments were asked to promote investible projects by holding discussions with prospective investors, the finance ministry said in the statement.
India considers creating bank with $13.7 billion equity capital to fund roads
By Bloomberg | Posted by Deepali Sharma
PUBLISHED ON JAN 06, 2021 03:28 PM IST
Attracting foreign investment is also crucial to meet Modi’s goal of spending $1.5 trillion on new roads, rail links and other infrastructure over the next five years as public finances deteriorate.
Approval of Covid-19 vaccine lends strength to optimism on health, eco fronts: Report
By Press Trust of India | Posted by Kanishka Sarkar | New Delhi
PUBLISHED ON JAN 05, 2021 05:35 PM IST
India, the report said, “has been successful in bending the Covid-curve till now, with reducing weekly/daily infections, rising recovery rate (now at around 95 per cent) and one of the world’s lowest case fatality rates”.
EPFO starts crediting 8.5% for 2019-20, amount to reflect in EPF accounts from Jan 1
By Press Trust of India | Posted by Shankhyaneel Sarkar | New Delhi
UPDATED ON DEC 31, 2020 05:53 PM IST
“It (8.5 per cent interest) would comprise 8.15 per cent from debt income and balance 0.35 per cent (capital gain) from the sale of ETFs (exchange traded funds) subject to their redemption by 31st December, 2020,” he said.
GST revenue may exceed Rs 1 lakh crore for third consecutive month
By Rajeev Jayaswal | Hindustan Times, New Delhi
UPDATED ON DEC 30, 2020 04:59 AM IST
According to available data so far, GST collections look good, with increased demand from consumers in the festive season, two officials with direct knowledge of the matter said, requesting anonymity. The finance ministry will release GST revenue data on Friday.
Cairn wins $1.2 billion award in damages in tax row with Centre
By Gireesh Chandra Prasad | Livemint, New Delhi
UPDATED ON DEC 24, 2020 05:24 AM IST
Cairn approached the tribunal after India’s 2015 tax demand of $2.74 billion over the group’s reorganisation in 2006, resulting in the creation of Cairn India Ltd.
Fake GST invoice menace: Tax department debunks misinformation about rule change
By hindustantimes.com | Edited by: Amit Chaturvedi | Hindustan Times, New Delhi
UPDATED ON DEC 23, 2020 08:35 PM IST
In a release, the The Central Board of Indirect Taxes and Customs said that it has so far registered about 12,000 cases of ITC fraud and arrested 365 people.
Finance Ministry permits 5 states to borrow extra Rs 16,728 cr
By Press Trust of India | Posted by Deepali Sharma | New Delhi
PUBLISHED ON DEC 20, 2020 02:13 PM IST
The reforms stipulated in the category include completion of first assessment of ‘District Level Business Reform Action Plan’.
India may need to spend $1.8 billion on Covid-19 vaccines in first phase, documents show
By Reuters | Posted by Arpan Rai | New Delhi
PUBLISHED ON DEC 16, 2020 10:43 PM IST
India also needed $30 million to $80 million for the insfrastructure to transport and store vaccines that must be kept at very low temperatures, the report said.
Covid-19: India signs $400 million project with World Bank to protect poor, vulnerable
By hindustantimes.com | Edited by Arpan Rai | Hindustan Times, New Delhi
PUBLISHED ON DEC 16, 2020 10:29 PM IST
Officials stated that due to the Covid-19 crisis, risks of migrants and the urban poor have been brought to the fore along with the need for governments to strengthen preparedness for future disasters of this nature.
Multiple parties show interest in Air India: Govt
By HT Correspondent | Mint, New Delhi
PUBLISHED ON DEC 15, 2020 04:57 AM IST
The government has been looking for a buyer for the state-run airline since 2017 but has drawn a blank so far as investors have been deterred by the money-losing airline’s huge debt load.
India Inc seeks fresh stimulus
By Shreya Nandi
UPDATED ON DEC 15, 2020 05:08 AM IST
The Confederation of Indian Industry (CII) recommended a three-pronged strategy for Budget 2021-22 centering around growth, fiscal consolidation and strengthening of the financial sector that would help overcome the impact of Covid-19 on the economy.
Govt made record payments under MGNREGS this year
By Chetan Chauhan | Hindustan Times, New Delhi
UPDATED ON DEC 14, 2020 04:47 AM IST
The rural development ministry, which administers the world’s biggest job guarantee scheme, was allocated Rs 84,900 crore in two instalments to fund MGNREGS in the year ending in March 2021.
Sixth installment of Rs 6,000 cr released to states/UTs as loan to meet GST compensation shortfall
By Asian News International | Posted by Ayshee Bhaduri | New Delhi
PUBLISHED ON DEC 09, 2020 09:04 PM IST
The central government is borrowing this amount on behalf of the states and UTs through a special borrowing window to meet the estimated shortfall of Rs 1.10 lakh crore in revenue arising on account of GST implementation.
Govt considers easing inflation to support growth
By Bloomberg | Posted by Deepali Sharma
PUBLISHED ON DEC 09, 2020 02:20 PM IST
Currently, a spike in inflation has forced the central bank to pause interest-rate cuts despite the economy needing more stimulus after entering an unprecedented recession.
Russia starts preparing for lower budget revenues as global oil demand declines
By Bloomberg | Posted by Shankhyaneel Sarkar
UPDATED ON DEC 05, 2020 04:37 PM IST
The comments are a rare admission from a senior Russian official that the best days may be over for the energy revenues that drive the economy.
Jharkhand, the only remaining state, accepts Centre’s Rs 1.1L cr borrowing option
By Rajeev Jayaswal | Hindustan Times, New Delhi
PUBLISHED ON DEC 05, 2020 11:18 AM IST
With this, the 31 members of the GST Council – 28 states and 3 union territories -- have formally accepted the first borrowing option of Rs 1.1 lakh crore proposed by the Centre in August
All states accept Rs 1.1 lakh crore borrowing option to meet GST shortfall
By Hindustantimes.com | Edited by Kanishka Sarkar | Hindustan Times, New Delhi
UPDATED ON DEC 05, 2020 11:03 AM IST
Jharkhand has become the latest State to go for Option-1 and it will get Rs. 1,689 crore through special borrowing window to meet the GST implementation shortfall.
Finance ministry report says economy witnessing V-shaped recovery
By Press Trust of India | Posted by Shankhyaneel Sarkar | New Delhi
UPDATED ON DEC 03, 2020 04:15 PM IST
The growth drivers have obtained the largest support from agriculture followed by construction and manufacturing, it said, adding, the contact-sensitive services sector has also contributed although mainly through logistics and communication.
Telangana accepts Centre’s borrowing option-1 to meet GST shortfall
By Press Trust of India | Posted by Deepali Sharma | New Delhi
PUBLISHED ON NOV 17, 2020 09:50 PM IST
The second option given by the Centre to meet the shortfall in revenue arising out of GST implementation was for the states to borrow the entire Rs 1.83 lakh crore collection shortfall.
Honest taxpayers need not worry about display of GST details: Govt
By Rajeev Jayaswal | Hindustan Times, New Delhi
PUBLISHED ON NOV 17, 2020 08:08 AM IST
The Department of Revenue (DoR) has reiterated that there will be no extra compliance burden on the taxpayer for GST turnover displayed in the Form 26AS. The turnover is being shown in 26AS just for the information of taxpayer, the official said requesting anonymity. DoR is an arm of the finance ministry.
Lalru dhaba blast: No action by govt despite complaints earlier, say oil companies
By Hillary Victor | Hindustan Times, Mohali, Mohali
UPDATED ON NOV 16, 2020 11:41 PM IST
Thefts stop when dhabas are raided after complaints to authorities, but the problem starts again soon, says a senior official of Indian Oil Corporation Limited
Finance Ministry seeks suggestions for annual budget 2021-22 on MyGov portal from Nov 15
By Asian News International| Posted by Susmita Pakrasi | New Delhi
PUBLISHED ON NOV 13, 2020 09:54 PM IST
The app will go live on November 15, 2020, and will remain open till November 30, 2020 to receive ideas for the budget, the Ministry of Finance said in an official release.
You can now buy houses at 20% below circle rate: All you need to know
By hindustantimes.com | Edited by Prashasti Singh | Hindustan Times, New Delhi
UPDATED ON NOV 13, 2020 02:46 PM IST
Circle rate is the minimum rate of property set by the authorities for a particular area.
Highlights: Nirmala Sitharaman announces measures under Atmanirbhar 3.0 to revive economy
By hindustantimes.com| Edited by: Harshit Sabarwal | Hindustan Times, New Delhi
UPDATED ON NOV 12, 2020 03:25 PM IST
Her address comes a day after the Centre approved a Rs 2 lakh crore production-linked incentive (PLI) package to boost demand in India.
Hailed as Covid warriors, but no bonus: Chandigarh PGI non faculty staff to hold protest on Diwali
By HT Correspondent | Hindustan Times, Chandigarh, Chandigarh
UPDATED ON NOV 11, 2020 11:31 PM IST
Approximately 5,000 group B (non-gazetted), C and D employees will not receive the bonus
Government re-imposes anti-dumping duty on Chinese linen fabric
By Rajeev Jayaswal | Hindustan Times, New Delhi
UPDATED ON NOV 11, 2020 05:25 PM IST
This is the third time since 2009 the government imposed anti-dumping duty on flax or linen fabric with more than 50% flax content that originated from China and Hong Kong
LTC cash voucher scheme: Central employees can make purchases in family member’s name, says govt
By Press Trust of India | Posted by Karan Manral
UPDATED ON NOV 11, 2020 12:57 PM IST
Issuing a second set of FAQs, the govt also clarified an employee can claim reimbursement for the purchase of goods and services, on or after October 12, even if he/she has not formally exercised the option of availing the scheme.
Have banks increased charges for depositing and withdrawing money? All you need to know
By hindustantimes.com | Edited by Poulomi Ghosh | Hindustan Times, New Delhi
UPDATED ON NOV 05, 2020 09:47 AM IST
Bank of Baroda initially decided to increase the service charges from November 1, but later withdrew the decision, the ministry has said.