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  • Subhash Garg says FM Nirmala Sitharaman booted him out of finance ministry Oct 31, 2020 02:37 PM IST

    Subhash Garg says FM Nirmala Sitharaman booted him out of finance ministry

    Nirmala Sitharaman has a very different personality, knowledge endowment, skill-set and approach for economic policy issues and it became quite apparent very early, that working with her was going to be quite difficult, the former finance secretary wrote in a blog

  • 15th Finance Commission completes report, to submit to President on November 9 Oct 30, 2020 03:27 PM IST

    15th Finance Commission completes report, to submit to President on November 9

    The Commission’s recommendations will reflect in the Modi government’s 2021-22 Union Budget. The Finance Minister is likely to table the Commission’s report, and an action taken report signifying which recommendations of the Commission have been accepted, along with the budget documents.

  • India's fiscal deficit at 114.8% of annual target at September-end Oct 29, 2020 06:41 PM IST

    India's fiscal deficit at 114.8% of annual target at September-end

    The fiscal deficit or gap between the expenditure and revenue had breached the annual target in July this year.

  • Exclusive | Centre prepares stimulus 4.0 for Diwali release; urban jobs scheme likely to be dropped Oct 26, 2020 04:59 PM IST

    Exclusive | Centre prepares stimulus 4.0 for Diwali release; urban jobs scheme likely to be dropped

    The fourth set of stimulus measures could include an infrastructure push with focus on urban projects, sectoral intervention for sectors like hospitality and tourism, and extension of the PLI scheme to more sectors

  • 3-Point Analysis | Govt releases guidelines for waiver of compound interest on moratorium loans Oct 26, 2020 12:33 PM IST

    3-Point Analysis | Govt releases guidelines for waiver of compound interest on moratorium loans

    Who is eligible to avail the compound interest waiver scheme?

  • Finance Ministry kick-starts Budget making exercise amid contraction pressure Oct 16, 2020 07:06 PM IST

    Finance Ministry kick-starts Budget making exercise amid contraction pressure

    It will be the third Budget of the Modi 2.0 government and Finance Minister Nirmala Sitharaman. Budget 2021-22 is likely to be presented on February 1.

  • India will not mandate secondary listings for firms joining overseas markets, sources say Oct 15, 2020 04:48 PM IST

    India will not mandate secondary listings for firms joining overseas markets, sources say

    India is close to drawing up rules for companies to directly float overseas without first having to list shares at home, as a way to help startups attain higher valuations and access capital more easily.

  • Exclusive | Indian bonds likely to start trading on global indices in 9 months Oct 14, 2020 02:21 PM IST

    Exclusive | Indian bonds likely to start trading on global indices in 9 months

    In the Budget for 2019-20 (Apr-Mar), finance minister Nirmala Sitharaman had proposed issuing sovereign bonds overseas to raise a part of the government's market borrowing. In Budget for 2020-21, the government announced plans to include Indian government securities on global bond indices

  • Exclusive | Opposing states at GST Council meet wanted a GoM on borrowing issue, dispute resolution mechanism Oct 13, 2020 01:23 PM IST

    Exclusive | Opposing states at GST Council meet wanted a GoM on borrowing issue, dispute resolution mechanism

    The Centre's insistence to not term the borrowing issue as a dispute is primarily based on concerns that states might then use it to push for a dispute resolution mechanism

  • Centre has spent 40% of its FY21 capital expenditure budget by September-end Oct 12, 2020 03:00 PM IST

    Centre has spent 40% of its FY21 capital expenditure budget by September-end

    The Centre's CAPEX is budgeted at Rs 4.13 lakh crore for FY21. On October 12, the finance ministry announced an additional budget of Rs 25,000 crore.

  • Centre offers Rs 12,000 crore interest-free 50-year loans to states for capital expenditure Oct 12, 2020 01:59 PM IST

    Centre offers Rs 12,000 crore interest-free 50-year loans to states for capital expenditure

    The government also announced an additional budget of Rs 25,000 crore, which would be provided for capital expenditure of Centre on roads, defence, infrastructure, water supply, urban development and domestically produced capital equipment

  • LTC cash voucher to boost consumer spending: FM Nirmala Sitharaman announces scheme for government employees Oct 12, 2020 01:42 PM IST

    LTC cash voucher to boost consumer spending: FM Nirmala Sitharaman announces scheme for government employees

    Under this LTC Cash Voucher Scheme, government employees can opt to receive cash amounting to leave encashment, plus three times ticket fare, to buy items which attract a GST of 12 percent or more.

  • E-invoicing major GST reform for ease of doing business: Finance Secretary Ajay Bhushan Pandey Oct 09, 2020 01:42 PM IST

    E-invoicing major GST reform for ease of doing business: Finance Secretary Ajay Bhushan Pandey

    E-invoicing is currently mandated for the businesses having annual turnover more than Rs 500 crore.

  • RBI offers ‘indirect monetisation’ route to states to help with their stretched finances Oct 09, 2020 01:17 PM IST

    RBI offers ‘indirect monetisation’ route to states to help with their stretched finances

    The RBI’s decision to purchase state bonds in the secondary market through open market operations will provide a boost to the states’ finances at a time when they, just like the centre, are having to deal with a massive revenue crunch and rising expenditure commitments

  • Banks sanction Rs 1.87 lakh crore to 50.7 lakh MSMEs under credit guarantee scheme Oct 08, 2020 05:08 PM IST

    Banks sanction Rs 1.87 lakh crore to 50.7 lakh MSMEs under credit guarantee scheme

    The scheme is the biggest fiscal component of the Rs 20-lakh crore Aatmanirbhar Bharat Abhiyan package announced by Finance Minister Nirmala Sitharaman in May to mitigate the distress caused by lockdown due to COVID-19 by providing credit to different sectors, especially micro, small and medium enterprises (MSMEs).

  • Exclusive | LIC IPO may not happen before second quarter of FY22 Oct 08, 2020 03:15 PM IST

    Exclusive | LIC IPO may not happen before second quarter of FY22

    The government is yet to appoint book running lead managers and legal advisors. An embedded value has to be decided, the insurer has to pare its stake in a number of other listed companies and has to tweak its balance sheets to comply with regulations, and the LIC Act has to be amended in Parliament.

  • GST compensation dues: How borrowing options narrowly missed being put to a vote in GST Council meeting Oct 07, 2020 03:00 PM IST

    GST compensation dues: How borrowing options narrowly missed being put to a vote in GST Council meeting

    At the beginning of the 42nd GST Council meeting, the Centre was confident that it had the numbers to have a favourable result on the borrowing options. However, things changed during the discussions, and the government officials were soon found to be trying to force the meeting to a close

  • Some sectors, worst hit by pandemic, 'require special love and care': Sanjeev Sanyal Oct 06, 2020 03:17 PM IST

    Some sectors, worst hit by pandemic, 'require special love and care': Sanjeev Sanyal

    The government is considering relief measures for sectors which have been the worst-hit by the COVID-19 pandemic, Principal Economic Advisor Sanjeev Sanyal said in an exclusive interview. He said there may be a case of positive GDP growth in Q4 FY21 and a substantial uptick in FY22 due to a low base effect

  • Inflation targeting, agriculture, capital markets - the many areas of expertise of the new MPC members Oct 06, 2020 02:10 PM IST

    Inflation targeting, agriculture, capital markets - the many areas of expertise of the new MPC members

    Moneycontrol takes a look at the work and fields of research of Ashima Goyal, Shashanka Bhide and Jayanth Verma

  • New MPC member Ashima Goyal resigns from PM's Economic Advisory Council Oct 06, 2020 12:16 PM IST

    New MPC member Ashima Goyal resigns from PM's Economic Advisory Council

    With regards to the members of MPC, the RBI Act states that a person cannot be in the panel if they have a material conflict of interest with the RBI and are unable to resolve such conflict.

  • GST Council allows small businesses to file returns on quarterly basis Oct 05, 2020 09:32 PM IST

    GST Council allows small businesses to file returns on quarterly basis

    Small taxpayers having aggregate annual turnover of less than Rs 5 crore will be able to file returns on a quarterly basis with monthly payments from January 1, 2021

  • Reforms undertaken to contain COVID-19 impact to ensure long-term sustained growth: Finance Ministry report Oct 04, 2020 05:19 PM IST

    Reforms undertaken to contain COVID-19 impact to ensure long-term sustained growth: Finance Ministry report

    The report said data for the 14-day period from September 17 to 30 suggests that India may have crossed the peak of COVID-19 caseload.

  • Sustained COVID-19 spread poses risks to growth: Finance Ministry Oct 04, 2020 02:17 PM IST

    Sustained COVID-19 spread poses risks to growth: Finance Ministry

    India seems to have crossed the peak in COVID-19 cases, as per available data, the Finance Ministry's Monthly Economic Report for September said.

  • Budget 2021: Finance Ministry to begin pre-budget meetings from October 16 Oct 04, 2020 12:34 PM IST

    Budget 2021: Finance Ministry to begin pre-budget meetings from October 16

    Pre-Budget meetings will begin from October 16 and will continue till the first week of November.

  • Fiscal deficit at August-end at nearly 110% of budget estimates Sep 30, 2020 06:13 PM IST

    Fiscal deficit at August-end at nearly 110% of budget estimates

    Finance Minister Nirmala Sitharaman has assured repeatedly that there will be no compromise on capital expenditure by the centre and the state-owned companies. However, data showed that the centre’s capital expenditure of Rs 22,598 crore in August was the lowest among all months so far this year

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