Page 51 - Finance Ministry

Insurance body GIC opposes govt nominee in life and non-life councils

Says both umbrella bodies are self-regulated and don't depend on funds from finance ministry; govt nominees may hamper their autonomy

Centre cutting its share in funding education: Bihar FM Vijay Choudhary

Likewise in Pradhan Mantri Gram Sadak Yojana (PMGSY), earlier the Centre has reduced its share to 60% from the earlier's 100%

Finance Ministry contemplating sops for middle class in upcoming Budget

The finance ministry is considering proposals to benefit the middle class in its last full Budget of the Narendra Modi 2.0 government to be presented on February 1 in the Lok Sabha. The finance ministry is looking into proposals sent by various government departments on specific steps which may be announced in the Budget, benefitting a large section of the middle class, sources said. The government has not raised income tax exemption limit from Rs 2.5 lakh which was fixed in 2014 by the then Finance Minister Arun Jaitley in his first Budget. Also the standard deduction has remained at Rs 50,000 since 2019. Several experts are of the opinion that the exemption limit as well as standard deduction need to be increased to compensate salaried middle class for elevated level of inflation. The recent statement of Finance Minister Nirmala Sitharaman that she was aware of pressures of the middle class has raised hope that some incentives may come for them in the upcoming Budget. "I too bel

Tax cut, restoration of OPS on citizens' Budget wish list this year

Like every year, multiple suggestions come in from citizens on MyGov, some reasonable, others clearly whacky

Budget 2023: Citizens' expectations from FM Nirmala Sitharaman | Union Budget 2023 | Budget

Finance Minister Nirmala Sitharaman will present the Union Budget 2023 on Feb 1. Watch the video to find out what citizens expect from the government this time

15 important terms you should know ahead of Union Budget presentation

Finance Minister Nirmala Sitharaman is set to present the Union Budget 2023-2024 in Parliament on February 1; here's a lowdown on vital budget related terms that you should know

Parliament's Budget session to begin Jan 31; Here's what you need to know

At this session, with 27 sittings spread over 66 days, the Parliament discusses and approves the proposed annual budget

FM Sitharaman to attend traditional 'halwa' ceremony before Budget session

In a series of tweets on Wednesday, the Finance Ministry said the ceremony will be held in the Budget Press situated inside North Block

FinMin meets private sector bankers, reviews progress of flagship schemes

The finance ministry on Tuesday held a meeting with private sector lenders to review progress made by them under the flagship financial inclusion and social security schemes. "Dr. Vivek Joshi, Secretary DFS chaired a meeting today with the representatives of Private Sector Banks, Small Finance Banks and Payment Banks to review the progress made by them under various Financial Inclusion initiatives (PMJDY, PMJJBY, PMSBY, APY, PM SVANidhi, etc.)," Department of Financial Services said in a tweet. Last week, Joshi met heads of public sector banks and urged them to achieve targets under various schemes for current financial year. During the meeting, progress of various social security (Jan Suraksha) schemes, including Pradhan Mantri Jan Dhan Yojana (PMJDY), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), Atal Pension Yojana (APY), Pradhan Mantri MUDRA and Prime Minister Street Vendor's AtmaNirbhar Nidhi (PMSVANidhi), and Agri credit etc, we

What the Budget should explain

FM's speech must highlight its impact on money supply, demand and investment- factors that influence inflation and growth

Raise credit penetration in 112 aspirational dists, FinMin tells banks

The Finance Ministry on Friday asked banks to further increase credit penetration in aspirational districts and ensure availability of at least one banking outlet within 5 km of all inhabited villages. Progress of 112 Aspirational Districts under Targeted Financial Inclusion Intervention Programme (TFIIP) was discussed in detail during a review meeting of Lead District Managers (LDMs) of aspirational districts and State Level Bankers' Committee (SLBC) convenors chaired by banking secretary Vivek Joshi. "Banks were also requested to run financial literacy camps in villages with the help of Panchayati Raj institutions to further improve the performance of financial inclusion schemes. A reward and recognition programme for performing districts and SLBCs was also discussed," said an official release. Joshi appreciated the efforts of SLBCs and LDMs in furthering the drive for financial inclusion in the country and requested LDMs and SLBC convenors to utilise the next six months with ...

Achieve financial inclusion targets, finance ministry tells PSBs

The progress in digitisation of the process for getting the KCC was also discussed to improve the transparency

Govt seeks expenditure proposals for final supplementary demands for grants

The two-part Budget session of Parliament will commence on January 31 and the final Supplementary Demands for Grants is likely to be presented in the second leg of the session

FinMin to meet heads of PSBs; to review progress of various schemes

The meeting with managing director and CEOs of public sector banks is scheduled to be held on January 19 and largely for reviewing the schemes to promote financial inclusion

FinMin to meet heads of PSBs on Thursday; to review schemes' progress

The finance ministry has called a meeting of heads of public sector banks and financial institutions to review the progress of various social sector schemes, including Jan Dhan, Mudra, and KCC

Finance ministry increases 'risk profiling' of shipments from China

Govt taking steps to address possible cases of under-invoicing

LIVE updates: 'Precious lives lost,' says PM Modi on Nepal plane crash

Catch all the latest news and updates from around the world here

Union Budget 2023: Electronic companies urge govt to reduce tariffs

Some duty structures, according to industry groups and stakeholders, need to be revised because they are now burdening the industry

CBI files cases against former finance secy Arvind Mayaram, others

Agency searches multiple premises of the former bureaucrat in the alleged currency printing corruption case

At Rs 14.71 trn, direct tax collection hits 86.6% of FY23 target by Jan 10

The finance ministry issued refunds amounting to Rs 2.4 trillion till January 10