Finance Ministry

Finance Ministry sets ₹20 lakh cap for EV procurement and ₹10 lakh for petrol and diesel cars; also revises laptop purchase rules with higher limits for Make-in-India devices

The central government has raised the price ceiling of laptops, tablets, or similar devices for its eligible officers to Rs 1.8 lakh plus taxes, and officials can retain them for personal use after four years. The Finance Ministry's Expenditure Department on November 10 issued revised guidelines on the purchase of Note Book /Laptop by ministries/departments of the central government. Central government employees of Sections Officer rank and above will be eligible for the devices. "...it has been decided that laptop; tablet; notepad; ultra-book; notebook; devices of similar categories may be issued to eligible officers for discharge of official work," it said. The new guidelines replace the July 2023 instructions on similar purchases of gadgets. The 2023 guidelines explicitly mentioned the purchase of mobile devices, which is not mentioned in the November 10, 2026, office memorandum. As per the new guidelines, the cost of the device shall not be more than Rs 1.50 lakh + taxes. Howe

Women account for nearly two-thirds of Mudra loan accounts but receive only 43% of the total funds disbursed. Why are women borrowers getting significantly smaller loans, and how does the gap vary acr

Advance tax devolution aims to boost capital spending and meet development and welfare expenditure

NLMC auctioned 264 RINL land parcels for ₹584.33 crore across two phases and is now preparing to monetise HIL India's land assets as part of its FY27 fundraising target

Asserts there is no fragility in the economy and India needs less cynicism

CGA data shows only 19 of 47 major ministries utilised over 45 per cent of their FY27 allocations in H1, while Railways led spending at 77 per cent and Mines at 75 per cent.

The central government usually releases funds as tax devolution to states in 14 instalments a year and uses its own discretion to pick the months for double devolution

The six-member committee will review banking regulations, capital requirements, priority sector lending and digital innovation, and recommend reforms to boost global competitiveness.

The Finance Ministry said the Core Group of Secretaries on Disinvestment had the authority to decide the bidding process, which helped increase the IDBI Bank stake sale value by ₹3,917 crore

The finance ministry flagged elevated crude oil prices, food inflation and kharif crop uncertainty as key risks to price stability, while projecting 7.35% GDP growth in Q2FY27

Union Finance Minister Nirmala Sitharaman on Monday said the Centre is committed to reducing the fiscal deficit, as evidenced by the annual budgets, stressing that the national debt will be limited to 50 per cent of the GDP by 2030. Addressing concerns about the national debt, she said that since the post-COVID period, every nation has faced debt challenges. "We are committed to reducing the fiscal deficit, as evidenced by our annual budgets. We have openly stated our goal that by 2030, the national debt will be limited to 50 per cent of the GDP. We are consistently putting in place measures to reduce the Union Government's debt, and international organisations have acknowledged India's disciplined approach to debt management." Sitharaman told reporters here.

The Finance Ministry will invite comments from businesses on the proposed changes in monthly GST return forms, beginning November 1, a senior official said on Thursday. Central Board of Indirect Taxes (CBIC) Commissioner GST Policy Wing Gaurav Singh said the department would also work towards streamlining GST audit process. The 57th meeting of the GST Council, comprising Centre and state finance ministers, had approved an alternate mechanism for making amendments to liabilities and input tax credit (ITC) in GST returns to minimise mismatches and reduce notices/intimations. The Council approved enhancements in GST Forms GSTR-1/1A/IFF to enable better reconciliation of the details furnished in these forms with the details reported in the returns in monthly tax payment form GSTR-3B. Singh said the amended GST return forms will be put up for public consultation on 'MyGov' portal on November 1 and will be open for comments till November 30. The amended GST return form would be applicab

FM calls for multilateral rules as economic penalties have consequences beyond their intended targets

The finance ministry on Saturday said the legislative history of the IDBI (Repeal) Act, 2003, a Delhi High Court judgement and successive Union Budget speeches reflect the evolution of its policy towards the strategic disinvestment of IDBI Bank. The Cabinet earlier this week approved strategic disinvestment of IDBI Bank by selling 60.72 per cent stake to Canada's Fairfax Financial Holdings for about Rs 53,000 crore (USD 5.5 billion). The deal is the largest foreign investment in India's financial sector so far and a major milestone in the country's banking privatisation drive. In a clarification on the legislative developments regarding reduction in government holding in IDBI Bank, the ministry said the Delhi High Court on December 17, 2018, held that the IDBI (Repeal) Act, 2003, contained no prohibition against reducing the government's stake in IDBI Bank Ltd. It may be recalled that during the Union Budget, 2003, discussions and the parliamentary debate on the IDBI (Repeal) Act, .

Finance Minister Nirmala Sitharaman on Friday met Singapore President Tharman Shanmugaratnam and Prime Minister Lawrence Wong and discussed further strengthening bilateral cooperation. "Union Minister for Finance & Corporate Affairs Smt @nsitharaman called on H.E. Mr. @Tharman_S, President of Singapore, at The Istana, in Singapore, today. The meeting provided an opportunity to exchange views on taking forward the Comprehensive Strategic Partnership and further strengthening bilateral cooperation," the finance ministry said in a post on X. Singapore Prime Minister, in a separate post on X, said, "We had a good discussion on global economic developments and on navigating the ongoing energy crisis. She also shared updates on developments in India and new opportunities for investment and cooperation". Besides, Sitharaman also met Singapore Foreign Minister Vivian Balakrishnan. "There are many opportunities for Singapore companies to participate in India's long-term growth prospects. ..

GST refunds under the fast-track route will require officer scrutiny if an earlier refund order is under dispute, potentially delaying working capital relief for businesses

Banks have been asked to strengthen end-to-end digital lending and widen access to UPI credit lines as the government pushes deeper financial inclusion

Finance Minister Nirmala Sitharaman on Monday said a new template for bilateral investment treaties is ready and is expected to get Cabinet approval soon in a bid to make it more investor-friendly. The new template, being prepared over the last one-and-a-half years, seeks to address shortcomings in the model approved in 2016 and provide sharper protection to investors from both sides, she said. India has continued negotiations on investment protection agreements even as the new template is being finalised, she said at the Munich Security Conference here. The latest agreement, with Saudi Arabia, goes beyond the 2016 framework and incorporates elements that are more sharply focused on protecting the interests of investors from both countries, she said. India has also concluded similar agreements with the UAE, Oman and some Central Asian countries, Sitharaman said. "We have a new template which will be approved shortly. But in the meanwhile, we've not halted the process. We are ...

'Don't take growth for granted amid global shocks'