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  • Govt to stick to 6.4% fiscal deficit target, taking steps to address high oil prices: Reports Jul 04, 2022 07:31 PM IST

    Govt to stick to 6.4% fiscal deficit target, taking steps to address high oil prices: Reports

    The central government is confident of achieving the target set at the start of this fiscal, as the country's macroeconomic fundamentals are strong, the sources told PTI.

  • Revenue buoyancy masks GST fault lines Jul 04, 2022 10:11 AM IST

    Revenue buoyancy masks GST fault lines

    The Centre and states should shed their dilly-dallying attitudes and make good use of the GST Council meetings to provide a directional path for the country’s indirect tax system 

  • 'These are extraordinary times': FM Sitharaman on windfall tax on oil producers, fuel exports Jul 01, 2022 04:16 PM IST

    'These are extraordinary times': FM Sitharaman on windfall tax on oil producers, fuel exports

    According to the finance minister, while the government does not grudge companies making profits, it was happening at a time when the supply of fuel was being affected and measures were required to tackle the situation.

  • Finance Ministry asks banks to explore fintech partnership, co-lending opportunities Jun 26, 2022 12:14 PM IST

    Finance Ministry asks banks to explore fintech partnership, co-lending opportunities

    In the recently concluded performance review of PSBs by the Finance Ministry, sources said, lenders were asked to focus on technology and data analytics to push their lending.

  • Govt to move NDPS from Finance Ministry to Ministry of Home Affairs Jun 23, 2022 05:45 PM IST

    Govt to move NDPS from Finance Ministry to Ministry of Home Affairs

    To bring all matters relating to narcotics under one department, the government is reportedly considering moving the administration of the Narcotic Drugs and Psychotropic Substances Act, 1985, and the Prevention of Illicit Traffic in Narcotic Drugs and Psychotropic Substances Act, 1988 from the finance ministry to the Ministry of Home Affairs.

  • Finance Ministry collaborates with Capacity Building Commission  for Capacity Enhancement Plan on infra projects execution Jun 21, 2022 06:16 PM IST

    Finance Ministry collaborates with Capacity Building Commission for Capacity Enhancement Plan on infra projects execution

    The Finance Ministry's Department of Economic Affairs (DEA) has framed a Capacity Enhancement Plan (CEP) in collaboration with the Capacity Building Commission (CBC) to drive relevant capacities across ministries, state governments, and the extended ecosystem of infrastructure execution in the country.

  • Finance Ministry asks banks to expedite NPA resolution; focus on credit growth Jun 20, 2022 09:27 PM IST

    Finance Ministry asks banks to expedite NPA resolution; focus on credit growth

    On Monday, the Finance Ministry met with the heads of public sector banks (PSBs) to discuss their annual performance and progress on several government projects.

  • India faces challenge in managing fiscal deficit and sustaining growth, finance ministry says Jun 20, 2022 02:34 PM IST

    India faces challenge in managing fiscal deficit and sustaining growth, finance ministry says

    The rationalisation of non-capex expenditure has become critical, not only for protecting growth supportive capex but also for avoiding fiscal slippages, the ministry said.

  • Finance ministry sees low risk of stagflation for Indian economy despite soaring prices Jun 20, 2022 02:29 PM IST

    Finance ministry sees low risk of stagflation for Indian economy despite soaring prices

    India’s pandemic hit economy is recovering but its size is barely above the pre-pandemic level.

  • FinMin meets public sector financial institutions to support 'Agniveers' after 4-year tenure Jun 16, 2022 06:23 PM IST

    FinMin meets public sector financial institutions to support 'Agniveers' after 4-year tenure

    Announced on June 14, the Agnipath scheme looks to offer employment in the armed forces to the youth for a four-year period. However, their future post that period is up in the air.

  • FM Sitharaman calls on public enterprises to show greater professionalism, efficiency Jun 09, 2022 01:02 PM IST

    FM Sitharaman calls on public enterprises to show greater professionalism, efficiency

    The finance minister's comments come as the public sector readies itself for the entry of private companies in all sectors, including the four strategic sectors specified by the new PSE policy.

  • Chief economic adviser echoes central bank: Crypto and DeFi are regulatory arbitrage, not financial innovation Jun 09, 2022 11:49 AM IST

    Chief economic adviser echoes central bank: Crypto and DeFi are regulatory arbitrage, not financial innovation

    The government and the Reserve Bank of India continue to be on the same page on crypto, with the chief economic adviser latest to question crypto after some stinging remarks by central bank officials.

  • Govt's enabling policies, proactive steps helped India deal with pandemic:  Finance Minister Jun 08, 2022 04:19 PM IST

    Govt's enabling policies, proactive steps helped India deal with pandemic: Finance Minister

    Finance Minister Nirmala Sitharaman said on Wednesday that the government's enabling policies and proactive measures, like corporate tax cuts and economic digitalisation, helped the country deal with the unusual scenario created by the pandemic.

  • India could be $20 trillion economy by 2040, chief economic advisor says Jun 08, 2022 01:22 PM IST

    India could be $20 trillion economy by 2040, chief economic advisor says

    “India is forecasted by IMF to cross $5 trillion by 2026-27 and if the dollar GDP of the country doubles every seven years, we will be at $20 trillion GDP by 2040 with a per capital income of close to $15,000,” V Anantha Nageswaran said.

  • India faces growth, inflation challenges but medium-term fundamentals solid, chief economic advisor says Jun 08, 2022 11:47 AM IST

    India faces growth, inflation challenges but medium-term fundamentals solid, chief economic advisor says

    India faces challenges of managing a sustainably high growth rate, moderate inflation, keeping the fiscal deficit under balance and also ensuring that external value of rupee remains stable, the CEA said.

  • First set of NPAs likely to be transferred to bad bank next month: Finance Ministry Jun 07, 2022 07:55 AM IST

    First set of NPAs likely to be transferred to bad bank next month: Finance Ministry

    NARCL is a special purpose asset reconstruction company for taking over the large value NPA accounts (above Rs 500 crore) from banks.

  • PM Modi Launches unified portal for credit schemes Jun 06, 2022 12:31 PM IST

    PM Modi Launches unified portal for credit schemes

    The portal can be used to avail loans for education, agricultural infrastructure, business activity and livelihood opportunities.

  • Government not to impose countervailing duty on certain aluminium products from Malaysia Jun 05, 2022 12:30 PM IST

    Government not to impose countervailing duty on certain aluminium products from Malaysia

    The commerce ministry's investigation arm DGTR had conducted a probe into alleged exports subsidisation by Malaysia on 'aluminium primary foundry alloy ingot in different forms' following a complaint by the domestic industry and on January 31 this year recommended imposition of the duty.

  • PM Narendra Modi to inaugurate Iconic Week Celebrations of Finance, Corporate Affairs ministries Jun 05, 2022 11:11 AM IST

    PM Narendra Modi to inaugurate Iconic Week Celebrations of Finance, Corporate Affairs ministries

    Prime Minister Narendra Modi will inaugurate the Iconic Week Celebrations of the Ministry of Finance and the Ministry of Corporate Affairs on June 6.

  • GST collections fall 16% to Rs 1.41 lakh crore in May from record highs a month back Jun 01, 2022 01:43 PM IST

    GST collections fall 16% to Rs 1.41 lakh crore in May from record highs a month back

    This is the 11th month in a row that the total GST mop-up has come in above the Rs 1-lakh-crore mark

  • Centre's fiscal deficit at Rs 74,846 crore in April, 4.5% of full-year target May 31, 2022 04:17 PM IST

    Centre's fiscal deficit at Rs 74,846 crore in April, 4.5% of full-year target

    The Centre has set itself a fiscal deficit target of 6.4 percent of GDP for FY23. However, many economists are already predicting that the target will be missed by a sizeable amount.

  • Fiscal deficit narrows down to 6.7% of GDP but Centre's coffers under strain May 31, 2022 04:00 PM IST

    Fiscal deficit narrows down to 6.7% of GDP but Centre's coffers under strain

    The 2022 Budget had seen the central government make a 10-basis-point upward revision to its fiscal deficit target for FY22 to 6.9 percent of GDP.

  • Consultation paper on crypto almost ready, says Economic Affairs Secretary Ajay Seth May 30, 2022 03:31 PM IST

    Consultation paper on crypto almost ready, says Economic Affairs Secretary Ajay Seth

    The release of the crypto consultation paper would put an end to some of the uncertainty that has gripped the sector.

  • The Big Recalculation: Fiscal deficit at 6.9% likely in FY23 after excise duty cuts, lower RBI surplus May 23, 2022 03:16 PM IST

    The Big Recalculation: Fiscal deficit at 6.9% likely in FY23 after excise duty cuts, lower RBI surplus

    The Centre has set itself a fiscal deficit target of 6.4 percent of GDP for FY23. Less than two months into the new financial year, the government's fiscal math is in tatters and warrants a recalculation.

  • Merger of govt-owned lenders weakening banking system, says study May 20, 2022 04:57 PM IST

    Merger of govt-owned lenders weakening banking system, says study

    Taking the example of Oriental Bank of Commerce, the study found no economic reason for its merger with Punjab National Bank as the efficiency of the former was increasing ahead of the union in 2020.

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