Page 12 - Finance Ministry

Union Budget 2025 expectations highlights: Will Budget 2025 raise tax deductions for homebuyers?

Union Budget 2025 Latest Updates: Catch all the latest developments related to Union Budget 2025 here

What does Union Budget 2025 have in store for India's trade policy?

Since the IES expired on December 31, the commerce department is seeking approval for a slightly modified version of the scheme to cover at least MSMEs

No GST on penal fees for loan non-compliance, says finance ministry

The RBI in its circular had directed regulated entities to replace "penal interest" with "penal charges" for borrowers who fail to comply with loan terms

Budget expectations highlights: Budget should focus on boosting consumption, say industry insiders

Union Budget 2025 Latest Updates: Catch all the latest developments related to Union Budget 2025 here

Finance ministry pushes PSBs to boost affordable insurance coverage

PSBs achieved only 51% of enrolment targets for the Pradhan Mantri Jeevan Jyoti Bima Yojana by Dec 2024

Govt invites applications for Sebi chief post as Buch's term ends on Feb 28

Last day for submission is February 17; Buch extension also not ruled out

FM participates in halwa ceremony, marking final stage of Budget 2025 prep

Finance Minister Nirmala Sitharaman on Friday participated in a traditional halwa' ceremony, marking the final stage for the preparation of Union Budget 2025-26 to be unveiled on February 1 in the Lok Sabha. The ceremony is a customary ritual in which traditional dessert halwa' is prepared and served to officials and staff members of the finance ministry who are involved in the preparation of the budget. It is organised in the basement of North Block, which houses the ministry in the national capital and is attended by the finance minister and other high-ranking officials. According to sources, the Finance Minister participated in the ceremony and also took a round of the Budget Press and reviewed the preparations besides extending her best wishes to the officials concerned. Sitharaman is going to present Budget 2025-26, the eighth straight budget in a row, on the backdrop of GDP growth moderating to 6.4 per cent in the financial year as against 8.2 per cent recorded in the previou

Faceless tax assessments: Benefits, challenges, solutions for improvement

How can govt improve upon the faceless tax assessment system

Finance Ministry dept to meet business correspondents, banks next week

Senior executives of banks to attend discussion; commissions and penalties for sector on agenda

Commerce dept seeks to extend 2 export schemes ahead of Union Budget

The commerce department is now seeking an additional allocation of Rs 1,600-1,700 crore, which will allow the government to drag the scheme till March 31

FinMin reviews financial inclusion schemes, urges better banking outreach

Nagaraju stressed the importance of expanding banking infrastructure in unbanked villages and improving connectivity in remote areas, particularly in the North East

FinMin reviews financial inclusion schemes, urges better banking outreach

Nagaraju stressed the importance of expanding banking infrastructure in unbanked villages and improving connectivity in remote areas, particularly in the North East

FinMin considers asking banks to implement geotagging for all BCs

This is also expected to ensure that services are delivered effectively and efficiently to the intended beneficiaries

FinMin meet: MFI representatives seek lowering of asset qualification norms

In 2022, the RBI updated regulations for MFIs, which now apply to all entities in the sector, including banks, small finance banks, and non-banking financial companies (NBFCs)

Centre likely to save over Rs 70,000 crore on expenditure in FY25

FinMin has parked Rs 62K cr towards "new schemes" with the DEA, most of which is expected to go unspent with only two and half months left in FY25

FinMin to meet bank heads on Wed to review financial inclusion schemes

Finance Ministry has called a meeting of heads of Public Sector Banks (PSBs) on Wednesday to review progress of various financial inclusion schemes, including Jan Suraksha and Mudra Yojana. The meeting, which would see participation from representatives of private sector banks, is scheduled to be chaired by Financial Services Secretary M Nagaraju. According to sources, the meeting to be chaired by the Secretary would also discuss and review the progress of various financial inclusion schemes including PM SVANidhi Schemes. The Finance ministry from time to time launched various drives to achieve saturation under Pradhan Mantri Jan dhan Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY). The PMJJBY offers life insurance cover of Rs 2 lakh, in case of death due to any reason, to people in the age group of 18-50 years having a bank or post office account, who give their consent to join or enable auto-debit of premium. On the other

Centre releases tax devolution of Rs 1.73 trillion to state govts

A higher amount is being devolved this month to enable states to accelerate capital spending and finance their development and welfare-related expenditures

Finance secretary Tuhin Kanta Pandey takes charge as revenue secretary

A 1987-batch Indian Administrative Service (IAS) officer from the Odisha cadre, Pandey had been serving as the DIPAM secretary since October 24, 2019

Tuhin Kanta Pandey take charge as revenue secretary in finance ministry

Finance Secretary Tuhin Kanta Pandey on Thursday took charge as Revenue Secretary in the Ministry of Finance. The Appointments Committee of the Cabinet on Wednesday appointed Pandey, who was holding the charge of the Department of Investment and Public Asset Management (DIPAM) and Department of Public Enterprises (DPE), as the Revenue Secretary. The order also stated that Pandey will continue to be designated as the Finance Secretary. In September last year, Pandey, a 1987-batch IAS officer from Odisha cadre, was appointed the Finance Secretary. The Finance Ministry has six departments -- Revenue, Economic Affairs, Expenditure, Financial Services, DIPAM and DPE -- and the senior most bureaucrat in the ministry is designated as the Finance Secretary. Before serving as Secretary in the DIPAM, Pandey held many significant positions in the Union government and the Odisha government, in addition to serving a stint in the Regional Office of the United Nations Industrial Development ...

Business Standard poll: Experts see FY26 nominal GDP growth at 10-11%

The first advance estimates released by the National Statistics Office (NSO) on Tuesday estimated a nominal GDP growth of 9.7 per cent for FY25