Page 66 - Finance Ministry
States to push for continuing GST compensation beyond June: Report
The 47th GST Council meeting, chaired by Nirmala Sitharaman and comprising state Finance Ministers, in Chandigarh scheduled on June 28-29 is likely to see discussion veer around compensation mechanism
 "States to push for continuing GST compensation beyond June: Report")
Transactions to paper trail: CBDT clears the air on TDS levy on cryptos
From July 1, TDS of 1 per cent will be levied on payments towards virtual digital assets or cryptocurrencies beyond Rs 10,000 in a year
 "Transactions to paper trail: CBDT clears the air on TDS levy on cryptos")
Where is India's economy headed after FinMin's twin deficit warning?
The FinMin on Monday struck a note of caution about the re-emergence of the twin deficit problem. Where is the Indian economy headed? Is there trouble ahead? Find out what an RBI paper warns about
 "Where is India's economy headed after FinMin's twin deficit warning?")
Expedite NPA resolution, focus on credit growth: Finance ministry to PSBs
Banks have been asked to put up branches in unbanked villages
 "Expedite NPA resolution, focus on credit growth: Finance ministry to PSBs")
India facing twin deficit problem due to commodity prices, subsidy: FinMin
Ministry's report urges rationalising non-capex spend not only for protecting growth supportive capex but also to avoid fiscal slippages
 "India facing twin deficit problem due to commodity prices, subsidy: FinMin")
FinMin asks PSBs to expedite NPA resolution; focus on credit growth
According to sources, banks were asked to sanction loans for productive sectors to accelerate the revival of the economy facing headwinds, including from the Russia-Ukraine war.
 "FinMin asks PSBs to expedite NPA resolution; focus on credit growth")
India faces near-term challenges; better placed to deal with them: FinMin
India's medium-term growth prospects remain bright as pent-up capacity expansion in the private sector is expected to drive capital formation, employment generation in rest of this decade, says report
 "India faces near-term challenges; better placed to deal with them: FinMin")
Top headlines: Over 500 trains cancelled; FinMin flags slowing economy
Business Standard brings you the top headlines on Monday
 "Top headlines: Over 500 trains cancelled; FinMin flags slowing economy")
India faces slowing growth but low risk of stagflation: Finance Ministry
Country faces near-term challenges in managing fiscal deficit, reining in inflation and containing CAD while maintaining a fair value of the rupee
 "India faces slowing growth but low risk of stagflation: Finance Ministry")
Finance Ministry looks to bring major changes at Banks Board Bureau
The finance ministry, over the next couple of months, is planning to identify new members, restructure the bureau, and recommend new names to the appointments committee of the cabinet
 "Finance Ministry looks to bring major changes at Banks Board Bureau")
GoM fails to reach consensus on GST rate rationalisation; seeks extension
The GoM will seek an extension to submit its final report, they said, adding issues of tax rates will also be raised in the upcoming Council meeting later this month
 "GoM fails to reach consensus on GST rate rationalisation; seeks extension")
FM to meet heads of PSBs on June 20; may nudge them for loan growth
The Finance Minister would take a stock of credit growth, asset quality and business growth plan of banks
 "FM to meet heads of PSBs on June 20; may nudge them for loan growth")
Finmin asks banks to explore employment opportunities for 'Agniveers'
The finance ministry on Thursday held a meeting with heads of public sector banks and financial institutions to explore employment opportunities for 'Agniveers' in their respective organisations
 "Finmin asks banks to explore employment opportunities for 'Agniveers'")
Support Agniveers after tenure completion: FinMin to PSBs, insurance firms
Post the announcement of the scheme protests have erupted across several states with the Opposition slamming the centre for hastily drawing up the plan
India proposes settling Russia trade in rupees as purchases rise: Report
New Delhi plans to use about $2 billion equivalent of rupees deposited at Russia's state-controlled VTB Bank PJSC and Sberbank of Russia PJSC
 "India proposes settling Russia trade in rupees as purchases rise: Report")
Time to rationalise
GST structure needs improvement
 "Time to rationalise")
Alok Kumar Choudhary appointed State Bank of India MD for 2 years
Choudhary would hold the position of MD till his superannuation on June 30, 2024
 "Alok Kumar Choudhary appointed State Bank of India MD for 2 years")
PSBs to hold credit outreach drive across all districts on Wednesday
State-owned lenders to address public queries on credit facility and enrolment for various schemes
 "PSBs to hold credit outreach drive across all districts on Wednesday")
FinMin releases revenue deficit grant of Rs 7,183 cr to 14 states
States will get a total revenue deficit grant of Rs 86,201 cr in FY23, which will be released in 12 equated monthly instalments
 "FinMin releases revenue deficit grant of Rs 7,183 cr to 14 states")
Centre working on mechanism to resolve GST disputes with states: Report
The finance ministry is working on the procedures of the GST dispute resolution mechanism as some of the states have been demanding