Finance Ministry

Govt offers retrospective tax relief for nuclear power equipment imports

The exemption covers specified goods imported for nuclear power generation under designated customs tariff categories

Govt extends microfinance guarantee scheme, raises loan cap to ₹1,000 cr

The government has approved the extension of the Credit Guarantee Scheme for Microfinance Institutions - 2.0 and a hike in the maximum loan limit to Rs 1,000 crore. As of date, loans totalling Rs 770 crore have been sanctioned under the scheme, the Finance Ministry said in a statement. The CGSMFI-2.0 scheme was introduced on March 20, 2026, and aims to provide guarantee cover to Banks/ FIs through National Credit Guarantee Trustee Company Limited (NCGTC) against expected losses on the financial assistance extended by them to NBFC-MFIs and MFIs for on-lending to small borrowers. The scheme was valid till June 30, 2026 or loans up to Rs 20,000 crore are guaranteed, whichever is earlier. "The Government of India has approved extension in validity of the Credit Guarantee Scheme for Microfinance Institutions-2.0 (CGSMFI-2.0) up to August 31, 2026, or till guarantees for an amount of Rs 20,000 crore are issued, whichever is earlier," the ministry said. The government has also approved a

Govt considers selling 2% stake in Hindustan Zinc to raise ₹5,000 crore

The Department of Investment and Public Asset Management, which is under the Finance Ministry, aims to launch the process this month or in July

Industry seeks faster disposal of high-value GST disputes, appeal relief

With GSTAT benches becoming operational, industry bodies have urged the government to fast-track large disputes and extend the June 30 deadline for filing appeals

Spending cut by 50 ministries helps Centre meet FY26 fiscal deficit goal

Expenditure by 50 ministries and departments came in below revised estimates, helping the Centre contain the fiscal deficit despite lower-than-projected receipts

Govt plans 'AI-against-AI' approach to strengthen digital public infra

Govt is considering deploying artificial intelligence to identify vulnerabilities and strengthen digital public infrastructure as concerns grow over advanced AI models' cybersecurity capabilities

FinMin calls for policy agility as economy shows 'cautious resilience'

The finance ministry on Saturday said strong domestic fundamentals support growth, but rising oil prices, a weaker monsoon and global uncertainty warrant continued policy vigilance

Anti-dumping duties can save India $3 billion per year in forex: Report

A report by C-DEP and Centre for WTO Studies says implementing pending DGTR recommendations could reduce forex outflow and support domestic industry with limited inflationary impact

DRI seizes 300,000 smuggled e-cigarettes worth ₹120 crore across 4 states

The Ministry of Finance said all the prohibited e-cigarettes were sourced from China and were concealed inside consignments labelled as other goods to avoid detection

FinMin asks banks, FIs to cut travel costs, promote electric vehicle use

The Finance Ministry has asked state-owned financial institutions to curb travel spending, adopt virtual meetings, and progressively shift to electric vehicles

FinMin asks PSU banks, insurers to adopt austerity measures, shift to EV

The Finance Ministry on Monday urged public sector banks and financial institutions to adopt austerity measures and shift to electric vehicles, following Prime Minister Narendra Modi's appeal. Last week, the Prime Minister made an appeal to citizens for judicious use of fuel, postponement of gold purchases and foreign travel, among other measures, to strengthen the economy, emphasising that the Centre is trying to shield people from the adverse impact of the West Asia conflict. The Department of Financial Services, in a circular issued to public sector banks (PSBS), regional rural banks (RRBS), public sector insurance companies (PSICs) and financial institutions (PSFIs), urged them to reduce expenses on travel and the adoption of electric vehicles (EVs). Austerity measures would be implemented with immediate effect, the Department of Financial Services under the Ministry of Finance said in the circular. All meetings, reviews and consultations should be conducted through video ...

Govt directs state-run banks, insurance firms to cut costs, shift to EVs

The order, part of a broader austerity push, will cover institutions like the State Bank of India, Bank of Baroda and Life Insurance Corp of India and million of their employees across the country

FinMin confident of coping with West Asia crisis with adequate fiscal room

The Centre says fiscal prudence and timely interventions have helped India cushion the economic fallout of the prolonged West Asia conflict

Govt likely to restrict manual edits in GSTR-3B returns under GST push

The proposed move aims to reduce GST mismatches and tighten compliance by limiting manual changes in GSTR-3B once returns are auto-populated

Govt considers reducing taxes on bond investments by foreign investors

Deliberations to ease the tax burden have gathered pace as authorities try to curb the rupee's depreciation

West Asia crisis a 'live balance of payments stress test': CEA Nageswaran

OMCs losing ₹1K cr a day, says Puri; doesn't rule out fuel price hike

PSBs' net profit rises 11% to all-time high ₹1.98 lakh cr in FY26: FinMin

Public Sector Banks (PSBs) have recorded an all-time high net profit of Rs 1.98 lakh crore in 2025-26 fiscal year, marking the fourth straight year of profitability, the finance ministry said on Tuesday. Improved asset quality, healthy credit expansion and higher income contributed to improved profitability of PSBs during 2025-26, the ministry said. Aggregate operating profit reached Rs 3.21 lakh crore, while aggregate net profit increased by 11.1 per cent y-o-y to a historic high of Rs 1.98 lakh crore, marking the fourth consecutive year of aggregate profitability for PSBs. The aggregate business of PSBs increased to Rs 283.3 lakh crore as on March 31, 2026, registering growth of 12.8 per cent over the previous year. Aggregate deposits rose 10.6 per cent year-on-year to Rs 156.3 lakh crore, reflecting continued depositor confidence and strong resource mobilisation by PSBs. Gross advances registered growth of 15.7 per cent year-on-year at Rs 127 lakh crore, indicating sustained cr

GSTAT braces for rush in appeals ahead of June 30 filing deadline

Finance Ministry officials expect a surge in GSTAT appeal filings before the June 30 deadline as taxpayers defer cases over pre-deposit concerns

DEA notifies Fema FDI easing for firms with up to 10% Chinese stake

The Finance Ministry has notified a decision to allow overseas companies with Chinese shareholding of up to 10 per cent to invest in India under the automatic route under FEMA, according to a notification. In March, the Union Cabinet approved amendments in the press note (PN) 3 of 2020 of the DPIIT. As per the amendments, foreign companies having a Chinese/Hong Kong shareholding of up to 10 per cent will be eligible to invest in India in sectors where FDI is permitted under the automatic route subject to sectoral conditions. However, these relaxed FDI rules will not apply to entities registered in China or Hong Kong or other countries sharing land borders with India. Earlier, foreign firms with shareholders from these land border nations owning even a single share had to seek mandatory approval to invest in India in any sector. Now, these restrictions will apply only to beneficial owners. After the Cabinet approval, the Department for Promotion of Industry and Internal Trade (DPI

Finance Ministry notifies 100% FDI in insurance sector, amends Fema rules

The Finance Ministry on Saturday notified 100 per cent foreign direct investment (FDI) in the insurance sector under the automatic route. While 100 per cent foreign investment will be allowed in insurance companies and intermediaries, including brokers, under the automatic route, the cap is 20 per cent for Life Insurance Corporation (LIC), said the Foreign Exchange Management (Non-debt Instruments) (Second Amendment) Rules, 2026. The Parliament had passed the Sabka Bima Sabki Raksha (amendment of insurance laws) Bill, 2025, in December, 2025, paving the way for hiking the FDI cap in the insurance sector to 100 per cent under the automatic route, from 74 per cent earlier. Subsequently, after the President's assent, the Bill became law. Thereafter in February, 2026, the Department for Promotion of Industry and Internal Trade (DPIIT) under the Commerce and Industry Ministry had notified 100 per cent FDI in the insurance sector.