Finance Ministry

Outstanding FCNR(B) deposits have risen to $60.55 billion from $32.56 billion since the RBI announced its concessional forex swap facility in early June

MHI says lower import duty is enabling dumping of foreign electric truck tractors in India

In reform push, seeks reinvented approach to actions

The government has directed all ministries to follow the 'One Entitled Officer, One Official Car' policy, barring senior bureaucrats from getting multiple staff cars

Public sector banks posted a record ₹1.98 trillion profit in FY26 as bad loans hit a historic low and credit growth remained strong across retail, MSMEs and agriculture

The most alarming dimension of frauds perpetrated by insiders is their organised, multi-institutional character

The authors argue GST rate rationalisation has broadened the tax base, improved compliance and refunds, and boosted consumption, though its full impact will take longer to assess

$20.72 bn already mobilised overall since swap window opened, says RBI

The finance ministry said capital gains tax rates and other tax policies are periodically reassessed during the annual Budget exercise and through legislative changes, based on prevailing macroeconomi

Directorate of Revenue Intelligence (DRI) officers have seized 15 kg smuggled gold and 20 kg silver -- cumulatively valued at Rs 22 crore -- and Rs 2 crore in cash in nationwide operations, and arrested 13 people, the finance ministry said on Saturday. In an operation on July 17, DRI officers in New Delhi seized about 5 kg foreign-origin gold, 20 kg silver, collectively valued around Rs 7.37 crore and Indian currency worth Rs 2.20 crore, believed to be the sale proceeds of the smuggled goods. Two persons were arrested. On July 15 and 16, acting on an intelligence, DRI officers in the capital intercepted an Indian passenger at IGI Airport, New Delhi, who arrived from Bagdogra and recovered around 1 kg foreign-origin gold, valued around Rs 1.35 crore, ingeniously concealed inside the metallic frame rods of his luggage. The passenger was arrested. In another operation, DRI dismantled an organised gold smuggling syndicate operating through the Mumbai airport and seized around 5 kg ...

The operations, carried out in Mizoram, Mumbai, Punjab and Chennai between July 15 and July 17, targeted organised smuggling syndicates and transnational criminal networks

"Video KYC is blocked for IP (Internet Protocol) addresses outside India. we are seeing how to mitigate risks & open it up," said a Finmin official

India has extended the anti-dumping duty imposed on certain Chinese tubes and pipes till January 27, 2027 to guard domestic makers from cheap inbound shipments, according to a finance ministry notification. The duty on 'seamless tubes, pipes and hollow profiles of iron, alloy or non-alloy steel' was first imposed on October 28, 2021 for five years. Amending a notification, the Central Board of Indirect Taxes and Customs (CBIC) has said it extends "the levy of anti-dumping duty... up to and inclusive of 27th January, 2027 unless revoked, superseded or amended earlier". The existing duty ranges between USD 961.33 and USD 1,610.67 per tonne. The CBIC has also announced continuation of an anti-dumping duty on imports of 'Normal Butanol' or 'N-Butyl Alcohol' exported from Malaysia, South Africa, and the United States of America for five years. It is used in different sectors such as chemicals, paints, adhesives, and coatings. Anti-dumping measures are taken to ensure fair trade and pr

A single can influence vegetable prices, inflation, rural incomes, corporate earnings and even the RBI's interest-rate decisions. In this video,

The finance ministry said over 140,000 guarantees worth more than Rs 1.55 trillion have been issued under ECLGS 5.0, with MSMEs accounting for the overwhelming majority of beneficiaries

Finance Minister Nirmala Sitharaman urged the Indian toy industry to target a quarter of the global toy market, citing government support and quality measures to boost manufacturing and exports

The Emergency Credit Line Guarantee Scheme (ECLGS) 5.0 has crossed 4.11 lakh guarantees to businesses affected by the West Asia geopolitical situation, with the guaranteed amount reaching over Rs 1.55 lakh crore, the finance ministry said on Tuesday. The scheme has benefited India's small businesses with 98 per cent of the total number of guarantees and 82 per cent of the total guaranteed amount going to MSMEs. "Since launch, 4,11,497 guarantees have been issued under ECLGS 5.0, with the guaranteed amount reaching Rs 1,55,229 crore - a sign of the scheme's rapid absorption across the lending ecosystem," the ministry said in a statement. The ECLGS 5.0 was approved by the Union Cabinet on May 5, 2026. The scheme aims to infuse additional credit of Rs 2.55 lakh crore to existing borrowers to tide over the liquidity challenges arising due to the West Asia crisis. As the scheme evolves and outreach expands, it is expected to further strengthen liquidity support for businesses, including

The report said the cessation of the conflict in West Asia had also brightened the growth outlook and reduced external deficit risks

The finance ministry on Tuesday said advanced technologies like AI and data analytics are being used in GST registration and scrutiny to identify possible tax evasions, while easing regulatory requirements for compliant taxpayers. The number of taxpayers registered under Goods and Services Tax (GST) has increased from 66.5 lakh in 2017 to 1.65 crore as of May 2026, reflecting greater formalisation of the economy, according to the ministry. Also, gross GST collection, which stood at around Rs 7.4 lakh crore in 2017-18, has increased steadily over the years. In the last five years, collections rose from Rs 13.76 lakh crore in 2021-22 to Rs 22.27 lakh crore in 2025-26. In April-May this fiscal, GST collections have reached Rs 4.37 lakh crore. Introduced on July 1, 2017, GST replaced a complex system of 17 central and state taxes and 13 cesses with a unified indirect tax framework. The reform, rolled out after years of negotiations between the Centre and states, was aimed at creating a

India's inflation likely to remain contained in coming months, says FinMin