The government in the Budget had proposed to borrow a gross amount of Rs 7.10 lakh crore from the market during 2019-20, higher than Rs 5.71 lakh crore in the current fiscal.
In a statement, the ministry said the annual returns form is now available on the common portal for filing and asked Goods and Services Tax (GST) payers to file their returns at the earliest.
The recovery is expected to touch Rs 1.80 lakh crore by March 2019 with some of the resolutions at the final stage, Financial Services Secretary Rajiv Kumar said.
The RBI had retained Rs 13,190 crore towards risks and reserves during 2016-17. It increased to Rs 14,190 crore in 2017-18. Together, retained amount is Rs 27,380 crore.
The income tax department is likely to be holding back the refunds to exhibit a high tax collection figure.
These reports were submitted to the government more than four years ago.
The Department of Economic Affairs under the Ministry of Finance prepares the Budget in consultation with other ministries and stakeholders.
The final figures and details of collections for the entire month of January will be will be released on February 2.
To make APY more attractive, the Pension Fund Regulatory and Development Authority (PFRDA) has sought the ministry's nod to double the guaranteed minimum pension under the scheme to Rs 10,000 per month and increase the upper age limit to avail the scheme to 50 from existing 40.
Finance Minister Arun Jaitley, however, missed the customary pre-Budget event as he is currently in the US for a medical check up.
The 'Know Your Budget' series, which explains the importance of Union Budget and its making, would continue for about a fortnight.
"The government is essentially a major shareholder. So, this need to be aligned to the best corporate practices. The shareholding needs to come down to at least 52 percent in the first phase.
The measure, once implemented, would check the widespread practice of composition dealers of charging GST from purchasers and not depositing it with the exchequer.
As on September 30, 2018, Specified Undertaking of Unit Trust of India (SUUTI) held around 9.63 percent stake in Axis Bank, 7.97 percent in ITC and 1.80 percent in L&T.
The stance of the government comes after former RBI Governor Urjit Patel claimed that the central bank didn't enjoy much power over public banks to stop or contain bank frauds
Tax experts said that ITC claims were allowed to businesses earlier provided businesses had generated invoice, paid taxes and filed returns. However, in the recent order the CBIC has mandated that ITC claims would have to be matched with GSTR-2A.
The ministry said the larger purpose of demonetisation was to move India from a tax non-compliant society to a compliant society and the impact of note ban has been felt on collection of personal income tax.
According to a recent World Bank report, India has improved its ranking in the Ease of Doing Business to 77th in 2018.
The Finance Ministry has proposed setting up a single gold spot exchange at a meeting with exchanges last week, all of which want to set up individual spot exchanges.
Many blamed the pressure brought by the government on the central bank to ease lending restrictions and release more of its capital to bolster the economy for Patel's resignation.
The ministry further said the efforts were being made to achieve the target for non-debt receipts as well as tax receipts.
What are the big challenges that face Shaktikanta Das and how easy or difficult will it be for him to broker peace between the government and the RBI.
Sakshi Batra does a 3 point analysis on whether the government will be successful in getting access to RBI’s capital and how rating agencies will react to such a myopic approach.
Since Das was a bureaucrat, he is expected to act as a catalyst between the central bank and the government
Das served as the economic affairs secretary in the Finance Ministry from 2015 to 2017.