May 07, 2021 01:50 PM IST
The ministry says it expects a 'muted' economic impact when compared to the wave. Learning to 'operate with COVID-19' provides a silver lining of economic resilience, it said in its April report.
- May 06, 2021 02:44 PM IST
- May 05, 2021 04:31 PM IST
The centre and LIC together own more than 94 percent of equity of IDBI Bank, with the centre owning 45.48 percent and LIC owning 49.24 percent. LIC is currently the promoter of IDBI Bank with management control and GoI is the co-promoter.
- Apr 29, 2021 06:16 PM IST
Somanathan, Economic Affairs Secretary Ajay Seth, DFS Secretary Debashish Panda and DIPAM Secretary Tuhin Kanta Pandey are all from the 1987 batch of the Indian Administrative Service. But Somanathan had a higher rank in his batch, when he stood second in the All India exams. This is a deciding factor between officers of the same batch.
- Apr 28, 2021 09:33 PM IST
He is the seniormost, by age, of the three 1987 batch officers in Finance Ministry.
- Apr 28, 2021 07:33 PM IST
In instruction to field offices, the Central Board of Indirect Taxes and Customs (CBIC) said in the wake of the extraordinary situation arising out of the COVID pandemic, the issue of providing seamless clearance to such relief material received from foreign governments and imported by the Indian Red Cross Society was discussed in a meeting chaired by the Cabinet Secretary on April 27.
- Apr 28, 2021 06:02 PM IST
Putting forward a series of demands, RAI said around 80 percent of the retail stores are closed due to various restrictions across states and almost Rs 75,000 crore could turn NPA if urgent measures to ease the working capital challenges are not taken by the Reserve Bank and the Centre.
- Apr 23, 2021 10:10 PM IST
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.
- Apr 23, 2021 03:27 PM IST
Industry tells government that more handholding is required to clear tax related confusion on the ground. Also calls for tax compliance deadline to be extended.
- Apr 19, 2021 09:19 PM IST
“The Finance Ministry today has relaxed the general financial rules and permitted the Ministry of Health to pay, if they so wish, to make advance payment to vaccine suppliers, without a bank guarantee. I believe the Health Ministry is already doing so,” a top official told Moneycontrol
- Apr 15, 2021 02:08 PM IST
Consideration into the matter began after domestic fibre optic players such as Birla Furukawa Fibre Optics and Sterlite Technologies complained about the boost in imports since July 2019.
- Apr 14, 2021 02:23 PM IST
In terms of numbers, FY21 witnessed 55 initial public offerings (IPO) and one follow-on public offer (FPO), the finance ministry said in a statement.
- Apr 13, 2021 12:18 PM IST
Out of the total provisional indirect tax collections, custom duty collections came in at Rs 1.32 lakh crore, excise and service tax collections came at Rs 3.91 lakh crore, while the net GST collection for the centre stood at Rs 5.48 lakh crore.
- Apr 07, 2021 08:55 PM IST
The feeling in the government is that Yellen’s statement stems from the United States’ ‘one-shot’ approach to providing stimulus in face of the Covid-19 pandemic, which is opposed to India’s response, which has been more deliberate and has focused on the credit and fiscal side of things.
- Apr 06, 2021 02:35 PM IST
Ajai Seth’s appointment as economic affairs secretary raises questions as to who will be designated as the finance secretary. Seth, Expenditure Secretary TV Somanathan and DIPAM Secretary Tuhin Kanta Pandey are all from the 1987 batch.
- Apr 05, 2021 02:50 PM IST
"As the vaccination drive continuously upscales in India and guided by the learnings of India’s successful management of pandemic during its first wave, India is now well armed to combat any downside risk posed by the recent surge in COVID-19 cases," the Department of Economic Affairs said in its economic report for March.
- Apr 04, 2021 09:11 PM IST
Under the scheme, bank loans between Rs 10 lakh and Rs 1 crore are provided to at least one Scheduled Caste/ Scheduled Tribe borrower and at least one woman borrower per bank branch of Scheduled Commercial Banks.
- Apr 01, 2021 08:14 PM IST
Keeping in view the ongoing COVID-19 crisis and to facilitate the taxpayers, no significant change have been made to the ITR forms, the CBDT said.
- Apr 01, 2021 06:47 PM IST
West Bengal, Assam, Tamil Nadu and Kerala, where high-stakes electoral battles are underway, together contribute 23.9% in gross collections of national small savings, according to latest available data. Assembly elections give small savers a reprieve from interest rate cut.
- Mar 31, 2021 07:07 PM IST
The National Credit Guarantee Trustee Company will issue the revised operational guidelines.
- Mar 31, 2021 06:05 PM IST
While the official gazette notification is still awaited, this means that the Monetary Policy Committee now has the mandate to take steps under monetary policy and inflation targeting frameworks to keep consumer price index-based inflation in the 2-6 per cent range from 2021-22 till 2025-26.
- Mar 31, 2021 05:57 PM IST
For the current financial year (2020-21), the gross borrowing estimate was revised to Rs 12.8 lakh crore as against the Budget estimate of Rs 7.8 lakh crore. However, Economic Affairs Secretary Tarun Bajaj said the Centre has borrowed a record gross Rs 13.70 lakh crore in 2020-21, while net borrowing was Rs 11.43 lakh crore.
- Mar 31, 2021 04:37 PM IST
Finance Minister Nirmala Sitharaman had, in her 2021-22 Union Budget, revised the fiscal deficit target for the current fiscal year to Rs 18.49 lakh crore, or 9.5 per cent of real gross domestic product, compared to budget estimates of Rs 7.96 lakh crore or 3.5 percent of GDP.
- Mar 31, 2021 10:55 AM IST
Due to the pandemic, the divestment process in the first five months of FY21 was completely stalled due to which the target was revised to Rs 32,000 crores.
- Mar 30, 2021 04:46 PM IST
Facing a funds crunch, and under international pressure by the WTO to realign the benefits it gives traders, the government had suspended the Merchandise Exports from India scheme (MEIS). Now, a similar scheme focusing on services exports may face the axe.