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ministry of finance
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India well-prepared to combat second wave of Covid-19: Finance ministry report
PTI | | Posted by Srivatsan K C
PUBLISHED ON APR 05, 2021 06:23 PM IST
The report further said high-frequency data indicates that India is on the path to become better and stronger.
Centre sticks with inflation goal for 5 yrs
Livemint | By Asit Ranjan Mishra
PUBLISHED ON APR 01, 2021 07:17 AM IST
The Reserve Bank of India (RBI) governor Shaktikanta Das had defended the existing inflation target, contending that any further loosening would undermine the central bank’s ability to set effective monetary policy.
India calls big economies’ pressure tactics to gain market access unfair
By Rajeev Jayaswal, Rezaul H Laskar
UPDATED ON MAR 29, 2021 07:16 AM IST
Several countries have concerns about India’s changed policies that encourage local goods and services.
Finance ministry releases entire ₹1.10 lakh crore estimated GST shortfall
PTI |
PUBLISHED ON MAR 15, 2021 07:54 PM IST
With the release of the 20th installment, 100 per cent of the total estimated GST compensation shortfall of ₹1.10 lakh crore for the year 2020-21 has now been released to the states and UTs with Legislative Assembly.
Government says ₹2,000 notes not been printed in last 2 years
PTI |
PUBLISHED ON MAR 15, 2021 04:57 PM IST
Minister of State for Finance Anurag Singh Thakur said 3,362 million currency notes of ₹2000 denomination were in circulation on March 30, 2018, constituting 3.27 per cent and 37.26 per cent of the currency in terms of volume and trade respectively.
Centre, states need to think about reducing taxes on petrol, diesel: Thakur
PTI |
PUBLISHED ON MAR 15, 2021 02:54 PM IST
"The Centre is ready to consider the idea of reducing the tax on petrol and diesel, the states should also consider it," Anurag Thakur said.
List of 17 states which have implemented one nation, one ration card system
By hindustantimes.com | Edited by Deepali Sharma
UPDATED ON MAR 11, 2021 09:41 PM IST
Here is the list of states that have implemented the scheme with the additional borrowing (in crores) permitted to them.
Centre releases ₹1.04 lakh crore GST compensation shortfall to states
PTI |
PUBLISHED ON MAR 01, 2021 08:37 PM IST
The ministry on Monday released the 18th weekly instalment of ₹4,000 crore to 23 states and 3 Union territories with Legislative Assembly (Delhi, Jammu & Kashmir and Puducherry).
Government considers new panel to take over privatisation of state-run companies
Bloomberg |
UPDATED ON FEB 15, 2021 05:05 PM IST
The panel will replace bureaucrats, who currently manage privatization, as well as minority stake sales, according to people with knowledge of the matter.
MoS Finance says up to 10% of LIC IPO issue to be reserved for policyholders
PTI |
PUBLISHED ON FEB 09, 2021 04:50 PM IST
The government will remain the majority shareholder and will continue to retain management control safeguarding the interest of policyholders, Minister of State for Finance Anurag Thakur said.
15th finance commission recommendations: Centrally funded plans face the axe
Livemint | By Asit Ranjan Mishra
PUBLISHED ON FEB 03, 2021 07:36 AM IST
Schemes that have outlived their relevance will be terminated, says expenditure secretary T V Somanathan.
Decoding the big numbers in the Union Budget '21-22
By hindustantimes.com
UPDATED ON FEB 02, 2021 07:11 AM IST
Nirmala Sitharaman's budget sought to get India back on the road to recovery after the Covid-19 challenge.
More tax relief for 1st time homebuyers
By Abhinav Kaul
PUBLISHED ON FEB 02, 2021 03:51 AM IST
The tax relief for homebuyers and developers buying or selling below the circle rate by up to 20% has also been extended up to March 2022.
Agriculture infra cess may hit state revenues
By Sayantan Bera
PUBLISHED ON FEB 02, 2021 03:51 AM IST
“There is an immediate need to improve agricultural infrastructure so that we produce more, while also conserving and processing agricultural output efficiently,” Nirmala Sitharaman said in her budget speech.
A booster shot for bulls in best budget day rise
By Nasrin Sultana
UPDATED ON FEB 02, 2021 03:10 AM IST
"This is not a populist budget. It prioritised growth over fiscal prudence... Markets have loved it," says Prabhat Awasthi, Nomura India head.
Union budget 2021 tests positive for hope
UPDATED ON FEB 02, 2021 07:01 AM IST
Sitharaman goes for big boost in capital expenditure, loosens purse strings on fiscal deficit.
Govt hikes capital expenditure by 34.5%
UPDATED ON FEB 02, 2021 01:55 AM IST
Finance minister Nirmala Sitharaman on Monday raised the government’s capital expenditure by 34
Centre launches voluntary vehicle scrappage policy
By Anisha Dutta
UPDATED ON FEB 02, 2021 01:49 AM IST
The vehicle scrapping policy aims to take old, polluting vehicles off the roads and send them to the scrapyard.
Union budget 2021: All eyes on Nirmala Sitharaman
By Nasrin Sultana
UPDATED ON FEB 01, 2021 07:59 AM IST
FM Sitharaman will have to strike a fine balance between prioritising growth and maintaining fiscal prudence.
GST collections surge to record ₹1.2 L-cr in January
By Rajeev Jayaswal
UPDATED ON FEB 01, 2021 01:43 AM IST
Tax collection in January beat the previous collection of Rs. 1,15,174 crore in the last month.
Budget to focus on job creation, health today
By Rajeev Jayaswal
UPDATED ON FEB 01, 2021 08:50 AM IST
Budget 2021: Big infrastructure projects, continued support to MSMEs and making India self-reliant will be the other objectives of Sitharaman’s third budget.
Why govt will need to adopt a different economic strategy
UPDATED ON JAN 31, 2021 08:34 AM IST
The economic strategy to revive the economy from its current predicament will have to be very different from the previous episodes of contraction.
Tracking India’s past crisis budgets
UPDATED ON JAN 31, 2021 02:29 PM IST
Since Independence, India has faced different economic and social crises that have threatened to derail its growth. HT looks at the trajectory the budgets took then as we gear up for this year’s Union Budget that will come in the backdrop of the largest GDP contraction post-1947
Union budget 2021: Economists warn any new tax in India could hurt recovery
Bloomberg |
PUBLISHED ON JAN 28, 2021 09:32 PM IST
A so-called Covid cess shouldn’t be announced because the economy is still normalizing after a strict and vast lockdown, said Sonal Varma, an economist at Nomura Holdings.
BJP says India's economic recovery post Covid-19 is strong
ANI |
PUBLISHED ON JAN 28, 2021 03:25 PM IST
BJP spokesperson Gopal Krishna Agarwal said that the Modi government has been walking on the path of strong reforms.
Government may tweak customs duties on host of goods in Budget 2021
PTI |
PUBLISHED ON JAN 25, 2021 03:58 PM IST
Sources said that while import duties could be tweaked on over 20 products, the customs duties could be removed on select raw materials.
FinMin releases weekly installment of ₹6,000 cr to meet GST shortfall
PTI |
PUBLISHED ON JAN 25, 2021 03:06 PM IST
Till now, 70 per cent of the total estimated GST compensation shortfall has been released to the states and union territories (UTs) with legislative assembly.
FM allocates ₹660 crore additional funds to MP for citizen-centric reforms
PTI |
PUBLISHED ON JAN 24, 2021 03:44 PM IST
"Fifty per cent of the approved amount has also been released to the state as first installment for the approved projects," the finance ministry said in a statement.
GST compensation shortfall: FinMin releases installment of ₹6,000 cr to states
PTI |
PUBLISHED ON JAN 18, 2021 07:00 PM IST
The Centre had set up a special borrowing window in October 2020 to meet the estimated shortfall of ₹1.10 lakh crore in revenue arising on account of implementation of Goods and Services Tax (GST).
FinMin releases ₹6,000 cr to states, UTs to meet GST compensation shortfall
PTI |
UPDATED ON JAN 11, 2021 06:56 PM IST
The Ministry of Finance in a statement said it has released the 11th weekly instalment of ₹6,000 crore to states/Union Territories to meet the GST compensation shortfall.