Page 63 - Finance Ministry

What is the 'Letter of Comfort' banned by the Reserve Bank of India?

The ban imposed by the RBI may impact loans worth Rs 35,000 crore, impacting power, healthcare, engineering & construction, and road sectors the most

Tax payers can no longer be a part of the Atal Pension Yojana: FinMin

A notification by the Ministry of Finance further said that those who are already a part of the APY scheme, will cease to be so from October 1 but they will receive their accumulated money

Fair share

Dependence on cess and surcharge must come down

Finance ministry invites application for post of PFRDA chairperson

Besides senior government officials, private sector employees who have worked at the level of CEO, CFO, COO or equivalent are also eligible to apply for post

Centre asks IBA to ready EASE-like plan for regional rural banks

The banks' lobby group has been asked to assist with the preparation of the viability plan for RRBs

To improve surveillance, airlines asked to share PNR details with Customs

National Customs Targeting Centre-Passenger has been established by CBIC to process PNR info for risk analysis of passengers

Infra assets worth over Rs 1.62 trn to be monetised this fiscal: FinMin

Infrastructure assets worth over Rs 1.62 lakh crore are expected to be monetised during the current fiscal, Parliament was informed

New Sebi rules may pull the rug out from India's bid to boost bond market

Opening up India's corporate bond market is an important part of Prime Minister Narendra Modi's pledge to almost double the size of the economy to $5 trillion by 2025

Finance ministry raises concerns on proposed tax sops under DESH Bill

Says such concessions may stir debate of extending incentive for all firms

No GST on rental of 'sarais' under religious or charitable trust: CBIC

The Union Finance Ministry on Thursday said 'sarais' run by religious or charitable trusts are exempt from the Goods and Services Tax (GST) irrespective of rent.

Rs 94,800-cr gains from windfall tax an overestimation: Govt sources

At July 1 rates, revenue gains would be less than Rs 48,000 crore if impact on corporation tax is taken into account

FinMin releases 5th revenue deficit grant of Rs 7,183 cr to 14 states

"The Department of Expenditure has on Wednesday released the 5th monthly instalment of Post Devolution Revenue Deficit (PDRD) Grant of Rs 7,183.42 crore to 14 states," the ministry said in a statement

IFS: Getting set to make an impact

As the IFS will still function as an extended arm of the DEA, what then was the need to set up a new body? Six reasons suggest themselves

DRI detects customs duty evasion of Rs 2,217 cr by Vivo Mobile India

'DRI officers recovered incriminating evidence indicating wilful mis-declaration in the description of certain items imported by M/s Vivo India,' says Ministry of Finance

India's tally of crorepatis at 131,000 as 6,000 new ones added in FY22

There was also a significant rise in number of people who declared their income between Rs 10 lakh and Rs 1 crore, data from the Finance Ministry showed

Banks write off loans worth Rs 10 trn in last 5 years: MoS Finance

During 2021-22, the write-off amount came down to Rs 1,57,096 crore compared to Rs 2,02,781 crore in the previous year, Minister of State for Finance Bhagwat K Karad said

Taking action against dubious digital loan apps, says FM Sitharaman

Most of the dubious apps are originating from one particular country and as a result a lot of borrowers are harassed and money is being extorted from by these apps, she said

7.24 million income tax returns filed in one day, a record: CBDT

On July 31, 7.24 million ITRs had been filed, shattering all previous single-day records (the maximum being 4.9 million in 2019)

Centre's capital expenditure outlay in Q1 could be close to Rs 1.5 trillion

It is in the July-September quarter (Q2) of FY23 that capex is expected to pick up, when a bulk of the long-term capex loans to states are expected to be expended

PM Modi to inaugurate regional centre of New Development Bank on July 29

The New Development Bank's regional office in GIFT City will identify projects with strong development impact