Page 71 - Finance Ministry

CPI leader Binoy Viswam urges FM to reconsider EPFO rate slash

In a letter he wrote to the minister, Viswam accused the BJP-led government of showing its true colours just after the party secured electoral victories in four states

FM Sitharaman discusses impact of rising commodity prices with IMF chief

Finance Minister Nirmala Sitharaman on Friday held a virtual meeting with International Monetary Fund (IMF) Managing Director Kristalina Georgieva and discussed various issues, including the impact of rising commodity prices on world economy. They also had a discussion on the 16th General Review of Quotas scheduled to be completed by 2023 and the need to ensure that under-representation of emerging markets and developing economies is addressed. "FM Smt. @nsitharaman & Ms. @KGeorgieva, both expressed concern at diminishing focus & global supply of #Covid19 vaccines. FM highlighted India's achievement in successfully administering 1.79 bn doses while at the same time supplying 162.9 mn doses to countries in need," the finance ministry said in a series of tweets. They spoke about the issue of global supply chains being affected, commodity prices rising and the possible effects on the world economy, it added. "FM Smt. @nsitharaman and Ms. @KGeorgieva suggested that the key ...

Govt earmarks Rs 500 cr for scheme to support pharma clusters, MSMEs

The government has earmarked Rs 500 crore for a scheme to provide support to the existing pharma clusters and MSMEs across the country to improve their productivity and sustainability

FM Sitharaman invites Canadian pension funds to invest in infra projects

Finance Minister Nirmala Sitharaman on Friday invited Canadian pension funds to invest in the National Monetization Pipeline and National Infrastructure Pipeline. The finance minister exchanged views on cooperation for promoting bilateral investment and trade during a meeting with Mary Ng, Canadian Minister of International Trade, Export, Small Business & Economic Development. "FM @nsitharaman complimented Canada for housing some of the largest and most successful pension funds globally and welcomed the investments from Canada into India, including in National Monetization Pipeline #NMP and National Infrastructure Pipeline #NIP," the finance ministry said in a tweet.

Maharashtra Budget: 'Medicity' offering all treatments to come up near Pune

A sprawling 'Medicity' offering all kinds of treatments at one place will come up near Pune, Maharashtra Finance Minister Ajit Pawar announced while presenting the state Budget on Friday.

Govt to extend loan scheme for building healthcare, medical infrastructure

Finance Secretary TV Somanathan said the scheme will be extended by another three months to June 2022.

Digital technology should reach every nook and corner of India: Sitharaman

Union Minister for Finance and Corporate Affairs Nirmala Sitharaman on Thursday asserted here that the benefits of digital technology should reach every nook and corner of the country

Matter of pride that India has a woman finance minister: PM Modi

PM Modi on Tuesday said it was a matter of pride that a large country like India has a woman finance minister who has presented a progressive Budget this year for Asia's third largest economy.

Industry has a role to play in reducing tax disputes, says FinMin

Two prominent policymakers - finance secretary TV Somanathan and revenue secretary Tarun Bajaj - said on Monday that the larger industry had a big role to play in reducing tax disputes

Sitharaman raps CBDT and CBIC for not addressing tax assessees grievances

Union Finance Minister Nirmala Sitharaman on Monday came down heavily on the tax boards for allegedly not responding to grievances of the tax assessees and directed their officials to reserve Saturdays to hold meetings with them. During the Budget Outreach Programme between Finance Ministry officials, the industry and trade bodies in Bengaluru, the General Manager and the Chief Financial Officer of the Karnataka Bank Muralidhar Krishna Rao posed a question seeking clarity on certain provisions of the GST Act and the direct tax deductions impacting the banking sector. Even before the officials responded, Sitharaman intervened and pulled up the Central Board of Direct Taxes (CBDT) and Central Board of Indirect Taxes & Customs (CBIC) officials. "I'm very curious to know if the CBIC and CBDT are here. Are you all engaging with your own assessees? The questions which are being asked here are not those questions where I want the secretaries of the Ministry of Finance sit here and ...

Union Budget sets agenda to provide tax predictable regime: FM

Union Finance Minister Nirmala Sitharaman on Monday said the Union Budget for 2022-23, which she had presented, stands for continuity to provide a tax predictable regime

Helpful changes in Customs and GST procedures

Many Customs notifications allow imports at lower or nil rates of duty, specified goo­ds for use in the manufacture of specified products

PM Modi to address webinar on Budget by finance ministry on March 8

To facilitate efficient and speedy implementation of budget announcements, the Government of India is holding a series of webinars across various key sectors, the Finance Ministry said

Awaiting govt, RBI advisory on SWIFT transactions with Russian assets: PNB

The country's second-largest bank Punjab National Bank said it was awaiting advisory from the Finance Ministry and the Reserve Bank with regard to SWIFT-related transactions with Russian entities

Finance ministry asks ministries to surrender savings by March 21

The finance ministry has asked departments and ministries to surrender savings, if any, for the current financial year 2021-22 by March 21.

FinMin to monitor revenue, expenditure on daily basis from March 15

Keen to keep government deficit within stated targets, the finance ministry will from March 15 start daily monitoring of the revenue receipts, including tax collections, as well as expenditure.

Pace of govt capital expenditure not robust enough, feel policymakers

The years FY21, FY22 and targets for FY23 have seen substantial jump in the Centre's capex outlay.

Higher nominal GDP may give Centre a leeway to cut duty on petrol, diesel

Former RBI governor C Rangarajan believes it would be 13 per cent, though his projection came before the war

LIC IPO to be delayed or not? GoM likely to take a call tomorrow

Merchant bankers say situation not ripe for IPO of this size

Ease of doing business: Sitharaman to launch e-Bill processing system

The Finance Minister had announced this major e-governance initiative in the Union Budget 2022-23 presented in Parliament on February 1