Page 2 - Finance Ministry

Small savings rates remain unchanged for 10th consecutive quarter

The Centre has retained interest rates on all small savings schemes for the July-September quarter, extending the status quo for the 10th consecutive quarter despite policy rate cuts

Govt extends deadline for filing GSTAT appeals by one month till July 31

Extension follows representations over technical issues on the GSTAT portal and a sharp increase in appeal filings as the new appellate mechanism becomes operational

Customs duty exemption on key petrochemical imports extended till July 15

The extension, prompted by supply-chain disruptions arising from the West Asia conflict, will continue to provide relief to industries dependent on critical petrochemical imports

Small savings scheme interest rates unchanged for second quarter: FinMin

The interest rate on the Public Provident Fund (PPF) has been retained at 7.1 per cent, while post office savings deposits will continue to earn 4 per cent

Govt approves ₹1.25 trillion outlay for India Semiconductor Mission 2.0

Under ISM 1.0, the government approved 10 major projects with cumulative investments of roughly ₹1.60 trillion across six Indian states as of December 31, 2025

Govt to add ₹30,000 crore to NIIF to catalyse foreign investments

The Centre's total commitment to the sovereign-anchored fund will rise to Rs 60,000 crore, supporting a new infrastructure fund and attracting global investors

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