BUSINESS
RBI hasn't agreed to bring EVs on priority sector lending list: Fin services secretary
According to Vivek Joshi, secretary of the finance ministry's Department of Financial Services, Paytm must resolve the regulatory problems faced by its payments bank with the Reserve Bank of India.
BUSINESS
Govt may infuse capital in 3 public insurers in FY25, says DFS Secy Vivek Joshi
Joshi said the government is holding internal discussions on the draft of the Insurance Bill, which includes composite licensing
BUSINESS
Start-ups must balance growth and compliance with regulations: DFS Secy Joshi
According to Joshi, while fintechs are very good with technology and in innovating, they must be mindful of their regulatory responsibilities as they grow from small firms to larger ones.
BUSINESS
Have sensitised banks, insurance cos to give support to exports via Red Sea: Financial Services Secy
Commerce secretary Sunil Barthwal is holding a meeting this week with stakeholders on the issues faced by exporters in the trade via the Red Sea route, Vivek Joshi said
BUSINESS
Financial Services Secy says RBI action on Paytm Payments Bank in interest of consumers, economy
Joshi's comments come a day after Paytm founder Vijay Shekhar Sharma met Finance Minister Nirmala Sitharaman
BUSINESS
Parliament panel recommends below 18% GST on health insurance, microinsurance
The Parliamentary Panel on Finance feels that there is a need to rationalise the GST rate on insurance products, especially health and term insurance.
BUSINESS
MC Exclusive: I-T may soon begin tax assessment proceedings against PB Fintech
The I T Department had surveyed the company in December 2023. Officials in Finance Ministry have said the assessment proceedings could begin shortly.
INDIA
GST Council to review online gaming after March 31: Revenue Secretary
The GST Council has revised the rate on online gaming from 18 percent to 28 percent on full face value effective October 1, 2023. The revenue from the sector has seen almost six-fold increase since then, the Revenue Secretary said.
BUSINESS
No law agency probe into Paytm as of now, says revenue secretary
Parent One97 Communications has also said there is no investigation by the Enforcement Directorate against Paytm, its associates and founder for money laundering
BUSINESS
62,000 tax appeals disposed of till Dec 2023, expect pick up: CBDT Chairman
The Budget has announced that the government will give up on Rs 3,500 crore worth of disputed direct tax demands up to 2014-15, for which the CBDT will come out with a scheme soon
BUSINESS
GST fake invoices: Govt to do away with edit option to revise output liability, says Revenue Secretary
The proposal will be discussed at the next GST Council meeting likely this month.
BUSINESS
Revenue Secretary sees average monthly GST collections rising to Rs 1.8-1.85 lakh crore in FY25
According to Revenue Secretary Sanjay Malhotra, it would be a "great achievement" if the Centre can manage a tax buoyancy of more than 1 consistently every year.
BUSINESS
DIPAM Secretary sees FY25 disinvestments at around Rs 35,000 crore, but govt has flexibility
According to Tuhin Kanta Pandey, Secretary of the Department of Investment and Public Asset Management, not giving a fixed disinvestment target in budgets is the "way to go".
BUSINESS
Gold imports adding to revenue growth, no case for a lower levy: Revenue secretary
The imports of the yellow metal are expected to touch 800 tonnes in 2023-24.
BUSINESS
Shipping Corp Land and Assets listing likely within a month, says DIPAM secretary
The Maharashtra Cabinet has given stamp duty exemption on the demerger.
BUSINESS
Revenue Secretary Malhotra sees no reason to cut excise on fuel, given global crude prices
According to Revenue Secretary Sanjay Malhotra, the excise duty on petrol and diesel currently is the lowest in several years.
BUSINESS
LIC may get 'smarter' with digital transformation, says DIPAM Secretary Pandey
According to Tuhin Kanta Pandey, Secretary of the Department of Investment and Public Asset Management, the government should be able to complete the privatisation of IDBI Bank in 2024-25.
BUDGET
Review of telecom, EV custom duty exemptions in July: CBIC Chairman
The duty exemption notifications which were expiring on March 31, 2024, have thus been extended to September 30, 2024, Sanjay Kumar Agarwal tells Moneycontrol.
BUDGET
Private capex not tepid, may grow over 10% in FY24: KV Subramanian
Consumption will come with a lag and sustained growth in consumption will come with investment, the former chief economic advisor has said
BUSINESS
Budget 2024-25 lowers fertiliser subsidy allocation by 13% to Rs 1.64 crore
The allocation for fertiliser subsidy for the current fiscal year FY24 has been increased to Rs 1.89 lakh crore in the revised estimates.
BUSINESS
Centre sets Rs. 50,000 cr disinvestment target for FY25, fails to meet FY24 projection
For the current fiscal year 2023-24, the Union Budget has scaled down the disinvestment revenue target in the revised estimates to Rs 30,000 crore
BUSINESS
From income tax relief to affordable housing boost, expectations mount ahead of Budget 2024
Experts believe that while the interim Budget may target measures to further empower women and higher allocation for the flagship rural job plan, capital expenditure could see a relatively modest growth in its outlay.
BUSINESS
Govt needs to balance capex and fiscal consolidation in Budget, say experts
A balance will have to be established, a path will be shown and investment prioritisation will continue to be the focus of the Budget.
BUSINESS
Union Budget may announce support for rural economy: Experts
Between the two routes of consumption or investment, it is the investment route which is more relevant for India at the moment.
