Department Of Economic Affairs

The Finance ministry in a press release said the amendment is expected to provide regulatory clarity to enhance ease of doing business for brokers.

Finance Ministry tweaks rules to enhance EODB for stock exchange brokers

Rule 8 of the SCRR sets out the qualifications for a person to be elected as, and continue as, a member of a recognized stock exchange.

Revenue Secretary Tarun Bajaj gets additional charge of Economic Affairs Secretary till August 12

The additional charge has been assigned to Tarun Bajaj as incumbent Economic Affairs Secretary Ajay Seth will be on leave.

Govt's borrowing programme not to crowd out private investment: DEA Secretary

Economic Affairs Secretary Ajay Seth further said the government is committed to the path of fiscal consolidation and the budget proposes to bring fiscal deficit down to 6.4 per cent of the GDP in the next financial year as against an estimate of 6.9 per cent in 2021-22.

Govt eases listing norms for companies having over Rs 1 lakh crore market capitalisation

The Department of Economic Affairs under the finance ministry has amended the Securities Contracts (Regulation) Rules.

The economic impact of the second wave COVID-19 is likely to be restricted to the first quarter of 2022: DEA

On the coronavirus pandemic, the DEA noted that the spread of COVID-19 has been rapid in rural areas.

Finance Ministry relaxes spending norms to boost capital expenditure

To enable ministries/departments expedite capital expenditure, it said, the cash management guidelines issued by the Ministry of Finance under the OM of 2017 have been relaxed.

Cost of borrowing to be reasonable; yields expected at around FY21 level: DEA Secretary

Economic Affairs Secretary Tarun Bajaj said that the government will ensure its record borrowing programme for 2021-22 doesn’t crowd out the private sector if credit demand picks up.

Economic Survey to include street vendors: Report

Excluded sectors include crop production, plantation, defence, public administration and compulsory social security services.

Subhash Garg takes charge as economic affairs secretary

A 1983 batch IAS officer, from the Rajasthan cadre, Garg was World Bank executive director for Bangladesh, Bhutan, India and Sri Lanka prior to this appointment.

84 DBT schemes have 33.52 cr beneficiaries, says govt

There were over 33 crore beneficiaries of 84 schemes that have been onboarded under the direct benefit transfer (DBT) programme at the end of February 2017, the government said today.

RBI Guv to brief parliamentary panel on demonetisation on Jan 18

RBI Governor Urjit Patel will brief here tomorrow a parliamentary panel about demonetisation and its impact on the economy and the steps taken by the central bank to deal with the cash crunch.

Govt against raising FDI cap in newspapers, periodicals

Currently, the FDI policy permits 26 percent foreign direct investment in publishing of newspapers and periodicals dealing with news and current affairs via approval route.

Long-term capital gains tax: FinMin divided on time-frame issue

The Revenue Department is in favour of changing the time frame from 1 year to 3 years but Department of Economic Affairs is against it.

World Bank to loan $250 mn for Jhelum, Tawi Flood Recovery plan

"The (central) government and the World Bank today signed a USD 250 million credit agreement under the Jhelum and Tawi Flood Recovery Project for reconstruction and recovery support in flood-affected areas in which public infrastructure and livelihoods were impacted severely," World Bank said in a statement.

Japan to give loan of Rs 5,479 cr to India for metro projs

The agreements were signed by the Joint Secretary in the Department of Economic Affairs S Selvakumar and Yutaka Kikuta, Deputy Chief of Mission of Japan to India, here on last Friday.

FinMin not 'impressed' by applicants for SEBI chief post

As per sources, the Selection Committee might invite ‘suitable‘ candidate with high stature for the post. The Committee might look outside the criteria of an IAS to find the appropriate person.

No govt proposal as yet to allow 100% FDI in pvt banks

The basic bone of contention here is the 49 percent Foreign Portfolio Investors (FPI) cap which a lot of banks want to be relaxed and if not that then at least the overall FDI composite cap of 74 percent should be raised to 100 percent

Rajiv Mehrishi appointed Home Secretary

The Prime Minister has approved the appointment of Mehrishi, a 1978-batch Rajasthan cadre IAS officer, for a period of two years with effect from Monday, an official release said.

India seeks better ranking on World Bank's ease of biz list

A two member mission of the World Bank Group is on a two day-visit to India to collect data and information for Doing Business Report, 2016. The members are Nadine Abi-Chakra and Baria Nabil Daye.

Govt forms 10-member panel to revisit PPP infra model

Among the members of the committee are C S Rajan, Chief Secretary, Rajasthan Government; S B Nayar, CMD, IIFCL; Shekhar Shah, Director General, NCAER; Pradeep Kumar, MD, CBG, SBI; Vikram Limaye, MD, IDFC; P S Behuria, former IRS and Sudipto Sarkar, Barrister-at-law, Kolkata.

FIPB can recommend FDI proposals up to Rs 3,000 cr

The Foreign Investment Promotion Board (FIPB) recommended proposals are cleared by the Finance Minister and any investment beyond the new ceiling of Rs 3,000 crore will go to Cabinet Committee on Economic Affairs (CCEA) headed by the Prime Minister.

FIPB to take up 48 foreign investment proposals on Oct 21

With the government on a fast-track to lure foreign investments, FIPB will consider as many as 48 FDI proposals, including that of the HDFC Bank and about a dozen from the pharma sector, at its meeting on October 21.

FinMin allows EPFO to become stock exchange member

The Department of Economic Affairs has issued a notification under the Securities Contracts (Regulation) Rules Act 1957, permitting the Employees' Provident Fund Organisation (EPFO) to become a member of a recognised stock exchange, according to a release.

ADB signs $300 mn loan agreement with India

"The project has been approved with an objective to improve more than 900 kilometers of state roads, in line with the Chhattisgarh Road Master Plan, involving upgradation of roads sections and strengthening culverts and bridges," a statement from the Finance Ministry said.