Finance Ministry

The Department of Revenue has been directed to undertake a fair, transparent, and fact-based inquiry into the allegations raised by Wintrack Inc

Nearly 90% of finance ministry files go digital as officials shift to new Central Vista building

Legacy files have been scanned and shredded; officials are citing storage constraints and shift to a new paperless regime

Finance Ministry advices banks and other financial institutions to stop expenditure on festival gifts

The advisory comes at a time when the government is trying to boost consumption and encourage people to spend. In its effort to prop up spending by the middle class, the government has provided relief on the income tax front earlier this year in Budget 2025-26

Trump’s H-1B visa fee a reminder of trade risks, Finance Ministry ‘monitoring’ impact on remittances and services

The GST rate rationalisation is expected to lower the tax burden on consumers, boost consumption, and provide a cushion against tariff impacts, said the finance ministry.

Tax audit deadline nears: Will Finance Ministry grant an extension?

Chartered accountants and trade bodies demand more time as compliance workload and portal issues mount.

Finance ministry to meet hospitality, insurance, textile stakeholders this week on passing GST benefits to consumers

The meetings come in the wake of mixed reviews from certain sectors around the relief offered through GST reforms given the removal of input tax credit under the new rates.

Finance Ministry plans consultations with India Inc to boost job creation amid slowing wage growth

Efforts to help industry, especially MSMEs to achieve scale and thereby ensuring better wages is key since the capacity to spend is intrinsically tied to growth in income that has been tepid, particularly in urban India.

India needs to grow by 8% amid geopolitical uncertainties: Finance Ministry

Government estimates peg India's growth at 6.3%-6.8% for the financial year through March 31, broadly in line with last year's 6.5% growth and much below the 9.2% clocked in 2023-24.

Centre moving quickly on deregulation norms to enhance ease of business for India Inc

Measures to improve ease of business include fast-tracking of a high-level committee on regulatory reforms, simplifying FDI rules and further decriminalisation of minor offences, it is learnt.

Govt favours retaining current inflation targeting framework from FY27 for another 5 years

This is because the weight of food in the CPI basket is likely to come down; therefore, the RBI may continue to target headline inflation, with a mandate of keeping the rate at 4 percent along with a tolerance band of 2 percentage points on either side. The current framework is valid until March 2026.

Tariff uncertainties, weak private investment may limit India’s economic momentum: FinMin

The Indian economy in mid-2025 presents a picture of 'cautious optimism', said the ministry

Govt to work with regulator to ensure small NBFCs' compliance is proportionate: finance ministry official

Ashish Madhaorao More, joint secretary in the finance ministry, has also said NBFCs are uniquely positioned to break the last-mile green finance gap and can help India meet its emission goals

Govt collected Rs 437.43 cr in income tax on cryptocurrencies in FY24, up by 62% YoY

This is the first time the government has disclosed the information on crypto taxes collected since it was implemented in 2022.

FinMin sees investor confidence sustaining in FY26 despite global headwinds

The ministry added that India remained the largest recipient of FDI inflows in the calendar year 2024 supported by robust new project announcements, particularly in the manufacturing sector such as in semiconductors and basic metals.

Crypto paper may flag tech benefits but will stop short of firm regulatory view

The first draft of the discussion paper, expected to be out in July, will likely outline the technological benefits of certain cryptos such as stablecoins, without taking a stand on regulation, given the RBI's resistance to this asset class

Finance ministry holds meeting on scaling up of Unified Lending Interface

Financial Services Secretary M Nagaraju and RBI Deputy Governor T Rabi Sankar co-chaired a meeting with officials from various ministries/departments of Government of India and state governments on scaling up ULI, the finance ministry said in a post on X.

Finance Ministry sets spending limit for MGNREGS for the first time ever, says report

Ministry of Rural Development has argued that such spending limits won't work for the scheme as it is a demand-driven programme, the report says.

Fin Min says draft RBI norms on gold loan should not affect small borrowers, implement from January 2026

The Department of Financial Services has suggested to RBI that the requirements of small gold loan borrowers should not be adversely affected. It also said the norms will be suitable for implementation from January 1, 2026.

New payment regulatory board is MPC-like independent body and will spur innovation, say fintech executives

There is a growing recognition within the political sphere that payments have, in effect, outpaced traditional banking in both scale and public impact.

Centre to review Jalan panel's RBI dividend formula, some tweaks likely: Sources

Any changes to the current framework will be guided by the need to ensure the central bank’s financial stability, while enabling predictable and adequate support to the government’s fiscal math.

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.

Cabinet Secretary to meet bankers on May 16 to avert action against MTNL for loan default

MTNL defaulted on Rs 8,346.24 crore worth of loans taken from seven public sector banks, the telecom firm, which primarily operates in Delhi and Mumbai, said in an exchange filing in April

Govt asks RBI, NPCI, others to amp up cyber security amid widening conflict with Pakistan

The finance ministry's advisory follows similar alerts by CERT-In and RBI to step up security against possible cyberattacks

Private general insurers to raise concerns with fin min over 4% mandatory cession to GIC Re, citing profitability strain

While public sector insurers may face less competitive pressure to optimise reinsurance costs, as the mandatory cession aligns with their operational framework, private insurers may face financial stress, say sources.

Centre mulls tightening capex loan scheme as many states prioritise freebies over infra spend

While states like Andhra Pradesh, Rajasthan, Bihar, Jharkhand, Madhya Pradesh, Himachal Pradesh, West Bengal, among others, have largely relied on loans from the Centre to spend on infrastructure, the finance ministry is particularly concerned about the impact of capex assistance on the debt levels of smaller states.