Page 60 - Finance Ministry

Enhance coverage of scheduled castes in all schemes: FM Nirmala Sitharaman

The FM was chairing the performance review of PSBs on credit and other welfare schemes for scheduled castes

Decoded: What are green bonds and how much will be the govt issue?

Green bonds are debt instruments the proceeds of which are utilised to finance projects that are beneficial to the environment

Govt bans mapping and export of sensitive locations under data regime

The central government has released a list of economic and national security-related strategic and sensitive locations that cannot be mapped and exported

Govt making efforts to keep inflation under 4%: Nirmala Sitharaman

Union Finance Minister Nirmala Sitharaman on Thursday said the government was making efforts to keep inflation under 4 per cent and steps were being taken to ensure people get essential goods at fair price and on time. Addressing a press conference near Pune city on the sidelines of a programme, she said steps were being taken to keep inflation at a certain level. Replying to a question on rising prices, the minister said, "As far as inflation is concerned, I have been answering questions (on the issue) in Parliament every time they have been raised. Steps were being taken to keep inflation at one level, for example, duty on imported edible oil is being removed so that affordable oil comes into the country." She said the issue of inflation should be understood in global context. "America is experiencing the kind of high inflation which was not witnessed in the last 40 years. Germany is facing high inflation which was not experienced in the last 38 years. We are taking efforts to ..

Rational expectations: Downside risks to growth are increasing

The economy's resilience will be tested in the second half of the year and beyond

Google asks loan apps to display link to partner bank, NBFC: Report

Google also said that the digital lending apps that fail to comply with the rules, will be deleted from the Google Play Store

Govt may retain or cut bond borrowings for current fiscal on robust revenue

India may keep its market borrowing plan for the financial year intact, with a recent uptick in revenues likely to lead to a discussion on whether the target can be reduced

Fate of world's biggest free food programme rests in PM Modi's hands

PM Modi will soon decide whether to extend a food dole out that has cost India $44 billion since the pandemic, or ease the strain on government finances and food supply

Centre seeks hiring plan after public banks see dip in staff strength

In the last 10 years, the number of branches of PSBs across the country have gone up, but staff strength has fallen

FinMin calls meeting of PSB chiefs on Sep 21 to take stock of vacancies

The finance ministry would review vacant positions and monthly recruitment plan of public sector banks (PSBs) and financial institutions in a meeting on Wednesday, sources said. The meeting would also review the procurement of banks and financial institutions through the Government e-Marketplace (GeM) portal. The meeting, to be chaired by Financial Services Secretary Sanjay Malhotra, will be attended by top management of banks and financial institutions through virtual mode, the sources said. Besides, there would be discussion on preparedness on 'Special Campaign 2.0'. The campaign during the period October 2-31, 2022 would focus on cleanliness (swachhata) and other issues. During the period, various pendency cases like MPs' references and state government references etc will be reduced.

Currency internationalisation: India pushes for rupee trade with Cuba

In July, the RBI had unveiled a mechanism to settle international transactions in rupee to promote the growth of global trade, with emphasis on exports from India

Govt working on GST on crypto transactions, defining legal framework

The government is working on a comprehensive indirect tax regime for crypto assets which will check revenue loss to the exchequer

Healthy revenue buoyancy expected for rest of the year: Finance Ministry

The Monthly Economic Report states that India is in a better position to calibrate liquidity levels without stalling growth

Lower Kharif sowing calls for deft management of foodgrain: FinMin report

A Finance Ministry report on Saturday underlined the need for deft management of stocks of agriculture commodities in view of lower crop-sowing for the Kharif Season, stressing there should be no room for complacency on the inflation front. Overall, inflationary pressures in India appear to be on a decline with a pre-emptive set of administrative measures by the government, agile monetary policy and easing of international commodity prices and supply-chain bottlenecks, according to the monthly Economic Review released by the Finance Ministry. However, it said, there is no "room for complacency on the inflation front as lower crop-sowing for the Kharif season calls for deft management of stocks of agricultural commodities and market prices without unduly jeopardising farm exports." India's rice production could fall by 10-12 million tonnes during the Kharif season this year due to a fall in paddy sowing area, Food Secretary Sudhanshu Pandey had said earlier this month. The Kharif ..

India 5th largest recipient of FDI in April-June quarter: Finance Ministry

India retained its status as an attractive destination among a set of developed and developing economies, as the 5th largest recipient of FDI in the April-June quarter, said Ministry of Finance.

IRCTC causing loss to exchequer by not issuing invoice: Tax consultant

Chandigarh-based tax consultant Ajay Jagga said the Supreme Court recently issued notices to the Central government on a plea seeking to plug existing loopholes in the GST system

FinMin okays converting Vodafone Idea's Rs 16,100 cr dues to govt equity

The government of India will own nearly 33% of Vodafone Idea's equity, and become the single-largest shareholder if the deal goes through

Central government to begin Budget 2023-24 preparations from October 10

Budget 2023-24 will be the fifth budget of the Modi government. It will be FM Sitharaman's last Budget before the 2024 General Elections

Explained: How govt imposing curbs on rice exports will affect India

The restrictions were placed, because sowing has not been up to expectations on account of irregularities in rainfall

FinMin sets up panel to address issues faced by venture capital, PE firms

The Finance Ministry has set up a high-level panel headed by former Sebi chairman M Damodaran to look into issues being faced by venture capital (VC) and private equity (PE) investors. The six-member committee will suggest steps for scaling up investment by VC and PE funds, a government notification said on Tuesday. Finance Minister Nirmala Sitharaman in Budget 2022-23 had announced setting up of an expert committee to examine and suggest appropriate measures related to venture capital and private equity. "Venture Capital and Private Equity invested more than Rs 5.5 lakh crore last year facilitating one of the largest start-up and growth ecosystem. Scaling up this investment requires a holistic examination of regulatory and other frictions," she had said. As per the terms of reference, it said, the panel would comprehensively study, using a systems approach, the end-to-end frictions and potential accelerants from regulatory policy and taxation to facilitate ease of investing as wel