Finance Ministry

No time for 'complacency', India’s shock absorbing capacity should be strengthened: FinMin report

With the government striking free trade agreements and with several underway, it has opened up markets for Indian exporters, said the February’s Monthly Economic Review, adding that "they need to grab it".

Despite external challenges, strong macro fundamentals & reform momentum bodes well for economy: FinMin

Despite India's high import dependency on crude oil, it has sufficient foreign exchange reserves, a low CAD, and low inflation rates, which collectively allow it to effectively mitigate the impacts of rising global crude oil prices and ensure domestic energy security, said the finance ministry's report.

Startups to seek Finance Ministry nod for loans against pending GST input tax credit

The finance ministry already approves such loans for MSMEs and corporate sector as loan against receivables

India Budget: FM Nirmala Sitharaman proposes high-level committee to review banking sector

Rs 11,500 crore outgo as Centre clears pay, pension revision for insurers, RBI, NABARD

Under the decision, public sector general insurance employees will receive a wage increase effective August 1, 2022.

Delhi BMW crash case: Finance ministry official could have been saved with timely care, says chargesheet

In a 400-page chargesheet filed before Judicial Magistrate Ankit Garg, police alleged that the accused, Gaganpreet Makkad, deliberately delayed providing critical medical assistance to the victim.

PSU general insurance merger likely still at preliminary stage

Industry officials familiar with the matter say the government is still at a preliminary assessment stage, with no formal execution plan or timeline in place

NSEL investors to urge Finance Ministry for faster execution of OTS

The Mumbai Bench of NCLT recently approved the OTS scheme between NSEL and NIF.

Income Tax Update: Finance Ministry opens Capital Gains Account Scheme to 19 private banks; check full list

However, the restriction on rural branches continues, meaning only branches in areas with a population above 10,000 (as per the 2011 Census) can offer the scheme.

India mulls wider Swadeshi manufacturing policy to cut import dependence amid FY27 Budget preparations

More labour-intensive sectors may be added as India looks to expand the scope of its manufacturing policy beyond the existing clusters.

Finance ministry asks hospitals, insurers to make healthcare affordable and accessible for policyholders

Financial Services Secretary M Nagaraju chaired a meeting of representatives of leading insurers, hospitals, General Insurance Council and Association of Healthcare Providers (India) to discuss the issue of medical inflation and rising premium costs.

Finance Ministry seeks industry suggestions on tax changes expected in FY27 Budget

The ministry also said that requests for correction of inverted duty structure, if any, for a commodity, should be supported by value addition at each stage of manufacturing of the commodity.

Finance Ministry orders enquiry into Wintrack bribery allegations against Chennai customs

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.