Ministry Of Finance

Senior government officials told Moneycontrol that investors have raised concerns over the lack of segregation of assets, financials, and non-core components in the Public Sector Undertakings, making it difficult to assess their valuation.

FinMin nudging banks to fund large infrastructure projects: DFS Secretary

M Nagaraju pointed out that infrastructure projects are typically viable if there is no fraud, funds are not diverted, and there are no timelines

Finance Ministry proposes to raise FDI limit in insurance firms to 100%; insurance stocks gain

The Finance Ministry proposed that the FDI limit in the insurance sector be raised to 100% from current 74%,

Airlines request govt to extend cut of excise duty for domestic flights before making use of blended ATF mandatory

Airlines have raised concerns that setting a mandatory SAF blending target for domestic flights would led to a significant rise in costs for the carriers, which would translate to a steep rise in ticket prices for passengers.

Dedicated teams working with AI to thwart suspicious transactions, says Google Pay

Last year alone, the UPI payments app claims to have thwarted approximately Rs 12,000 crore worth of suspicious transactions

MC Exclusive: Hybrid Cars could see a budget boost with potential cess cut

The proposal, if implemented, will provide a strong boost to sales of hybrid cars in the country, as it will reduce the tax differential between hybrids and electric cars.

How the Finance Commission can be strengthened

Much of the work and legacies of previous Finance Commissions is getting lost because it isn’t a permanent body. Administrative difficulties also abound. A provisional solution is to turn the Finance Commission Division (FCD), as the custodian of FC records and responsible for its award implementation, to be turned into full-fledged department, serving as the permanent secretariat for the Finance Commissions

MC Exclusive | RK Singh seeks more funds for power sector, sops for green hydrogen

The power and green energy industry is hopeful that the government in its Interim Budget will ensure policy consistency, focus on green hydrogen, lower goods and services tax (GST) rates, and easy access to subsidies and climate finance.

ITR Filing: Record 8.18 crore returns filed in AY 2023-24, up 9% YoY

The total number of audit reports and other forms filed during AY2023-24 stood at 1.60 crore against 1.43 crore in the preceding assessment year

Govt looking into dumping issue of certain steel products: Steel Secy

The statement comes amid the industry raising concerns over the rise in steel imports.

Saudi Arabia to raise $11 billion from syndicated loan, Bloomberg reports

The kingdom's Ministry of Finance has appointed Industrial & Commercial Bank of China Ltd (ICBC) as coordinator and bookrunner for the long-term senior unsecured loan, the report said citing people familiar with the matter.

Centre cuts windfall tax on domestic crude, hikes levy on diesel, ATF exports

The SAED on crude petroleum will reduce from Rs 7100 per tonne to Rs 6700 per tonne, according to the finance ministry

SVB's impact on startups: Parliamentary panel to discuss with finance ministry, RBI officials

The 31-member panel includes former union minister Ravi Shankar Prasad, former deputy chief minister of Bihar Sushil Modi, and senior Congress leader P Chidambaram.

CPAI urges govt, Sebi for resumption of trading in 7 banned agri commodity contracts

To curb inflation, the Securities and Exchange Board of India (Sebi) banned exchanges from launching new derivative contracts of Soyabean, mustard seeds, channa, wheat, paddy, moong and crude palm oil on December 20, 2021.

Budget 2023: Revenue dept in favour of further simplification of capital gains tax provisions

The revenue department is of the view that a further simplification of capital gains tax is "possible", and the measure could provide ease of compliance and "cleaning up" of the complex law.

Government plans Rs 2,000-crore cash jab for ailing IFCI: Report

The government is planning to infuse capital into IFCI in order to reduce its debt burden, sources privy to the matter said a merger is possible as well.

Finance ministry releases Rs 1,764 crore grant to four states

The states to which grants were released are Andhra Pradesh (Rs 136 crore), Chhattisgarh (Rs 109 crore), Maharashtra (Rs 799 crore) and Uttar Pradesh (Rs 720 crore).

Companies importing Chinese goods via South East Asian countries under Finance Ministry's scanner

Customs Department is likely to resume physical inspections of imports from South East Asia as importers may be flouting rules of origin norms and misusing FTA routes.

Govt constitutes expert committee to suggest ways to scale up VC/PE investments

The government, via this panel will examine measures to scale up investments, indicating more policies that could help investors who are pouring foreign capital into Indian companies.

Govt to auction Rs 32,000 crore of four gilts on July 15

The auction of 2027, 2028 and 2036 gilts will be held via "uniform price method", whereas, the auction of 2051 gilt will be conducted through "multiple price method", the finance ministry said.

Revenue Deficit Grant of Rs 7,183.42 core released to 14 states

The total Revenue Deficit Grant released to states so far in the current financial year has gone up to Rs 21,550.25 crore.

Delhi High Court to consider plea for uniform banking code for forex transactions

The Delhi High Court has sought responses from ministries of home affairs, finance, and law and justice on this plea filed by advocate and BJP leader Ashwini Kumar Upadhyay.

Procurement Reforms | New bidding process is not at the cost of the existing L1 system

Be it the L1 system, or the QCBS, or the fixed system, these are just one aspect of the complex procurement process. Vibrancy and maturity of commodity market, diffusion and innovation of technology, patenting issues, etc. are some representative issues that equally matter

Govt slashes excise duty on petrol by Rs 5, diesel by Rs 10

The Centre has also urged the state governments to take cue from its decision to cut excise duty and "commensurately reduce VAT on petrol and diesel to give relief to consumers".

Government to take decision on IMC’s report on cryptocurrencies, may present a legislative proposal: MoS for Finance

A High-Level Inter-Ministerial Committee (IMC) in its report had recommended that all private cryptocurrencies, except any cryptocurrency issued by the State, be prohibited in India.