Page 69 - Finance Ministry

FinMin waives customs duty on cotton imports till September 30

Currently, cotton imports attract 5 per cent Basic Customs Duty (BCD) and 5 per cent Agriculture Infrastructure Development Cess (AIDC)

Govt says exceeded FY22 asset monetisation target; Rs 96,000 crore realised

Targets for depts that lagged to be rolled over

Nepal's economic performance positive, not to worry: Finance Minister

Nepal's Finance minister on Monday dismissed claims by opposition parties that the country's economy will deteriorate further in the coming days

Top headlines: Trai slashes 5G spectrum base, Ambani's net-zero plan

Business Standard brings you the top headlines on Tuesday

FinMin asks Infosys to work on ways to access taxpayers' data accurately

FinMin suggests it boosts pre-filled data, rolls out new payment system

India's tax revenues soar to a record high of Rs 27.07 trillion in FY22

In terms of tax buoyancy, the overall tax buoyancy was 1.9 in FY22, with direct tax buoyancy at 2.8 and indirect tax buoyancy at 1.1.

RBI likely to revise inflation outlook as it extends rate pause: Economists

Expectations are for the RBI to revive open-market operations or resort to Operation Twists, wherein it buys longer bonds and sells shorter-dated notes, to support the market amid record debt supply

As multiple crises hit, a case for fresh economic assessment to Parliament

Given the Covid-19 pandemic, and now the war in Europe, economists assert there could be a case for reviving the practice for the sake of fiscal transparency at least temporarily

Govt to borrow Rs 8.45 trn from market during April-September period

The Union government is looking to raise Rs 8.45 lakh crore through borrowings in the first half of 2022-23 to fund the revenue gap for reviving the economy, the finance ministry said on Thursday.

GST collection rises to an all-time high of Rs 1.42 trillion in March

The robust mop-up could be attributed to the government's tightened compliance measures and crackdown on GST evaders and fake bills

Only 80.6% spent till February, govt likely to miss capex target

While monthly capex spending peaked to Rs 1.2 trillion in December, it has drastically fallen in subsequent months with expenditure of only Rs 43,495 crore in February

Centre plans to borrow 59% of FY23 debt target in April-September

Estimated at Rs 8.45 trn; full-year borrowing likely at Rs 14.31 trn

30% tax on cryptocurrency income to come into effect from Friday

The revised norms for levy of 1 per cent TDS (tax deducted at source) on sale of immovable property exceeding Rs 50 lakh will come into effect from April 1, the beginning of the new financial year

India's external debt rose to $614.9 bn at end of December 2021

The external debt to GDP ratio fell marginally to 20 per cent at the end of December last year from 20.3 per cent at the end of September 2021

After Sebi diktat, Canada FPIs likely to knock on Finance Ministry's door

Canada ranks seventh in terms of FPI investments into India, the total being Rs 1.7 trillion as of February 28 this year.

States panel likely to bat for system tracking dealers' transactions

The panel may also suggest integrating the Goods and Services Tax Network with NPCI to curb frauds in tax refunds

Russia-Ukraine war disrupting global supply chains: FM Sitharaman

'Focusing on growth, recovery with predictable tax regime'

New crypto tax law discriminatory in treating different assets differently

Since 1956, all Indian governments have thought that economic discrimination is fine, but political or social discrimination is not

Govt should come out with legislation on crypto soon: Cong MP Gaurav Gogoi

The government is still sending mixed signals on virtual digital assets and there should be clarity on the definition of crypto, he said while initiating a debate on the Finance Bill in Lok Sabha

Centre releases Rs 6,000 cr to states as GST compensation

Till now, 70% of the total estimated Goods and Services Tax compensation shortfall has been released to the states