Page 79 - Finance Ministry

Govt debt at 62% of GDP; capable of repaying liabilities: MoS Finance

Government debt is held predominantly in domestic currency: MoS Finance

About Rs 52,000 cr GST compensation pending to states till Sept: FinMin

Nearly Rs 52,000 crore of GST compensation was due to the states as of September 2021, Parliament was informed on Monday. Giving details of Goods and Services Tax (GST) compensation released and pending to be released as on November 24, 2021, Minister of State for Finance Pankaj Chaudhary said in the Lok Sabha that Rs 1,10,208 crore and Rs 1.59 lakh crore was released to the states as back to back loan in 2020-21 and 2021-22 fiscals, respectively. Total GST compensation pending till September 2021 stood at Rs 51,798 crore, he said. This includes Rs 13,153 crore pending to Maharashtra, Rs 5,441 crore to Uttar Pradesh, Rs 4,943 crore to Tamil Nadu, Rs 4,647 crore to Delhi and Rs 3,528 crore to Karnataka. States of Arunachal Pradesh, Manipur, Mizoram and Nagaland do not have any GST compensation pending from the Centre. In reply to a separate question, Chuadhary said the Centre has released Rs 17,000 crore on November 3, 2021, towards GST compensation to states from the compensation

RBI wants digital currency included under definition of 'bank note': FinMin

RBI is working out a phased implementation strategy for introduction of Central Bank Digital Currency with little or no disruption

FM Sitharaman bats for expanding tax net, ramping up collections

Revenue secy says I-T portal working fine, 300,000 returns being filed daily

Additional Rs 10,000 crore allocated for MNREGA earlier this month: Centre

Sources said the funds allocated for the scheme have already been utilised and an additional allocation of Rs 10,000 crore was made by the finance ministry in the first week of November

FM hands over Rs 306-cr credit sanction letters to 145 beneficiaries in J&K

Union Finance Minister Nirmala Sitharaman on Tuesday handed over credit sanction letters of Rs 306 crore to beneficiaries in Jammu and Kashmir and announced a host of initiatives

FM Sitharaman inaugurates projects worth Rs 165 crore in J-K

These include Jhelum and Tawi flood recovery projects

Finance Ministry notifies 12% GST rate on MMF, yarn, fabrics from Jan 1

The finance ministry has notified uniform 12 per cent GST rate on manmade fibre, yarn, fabrics and apparel, thereby addressing the inverted tax structure in the MMF textile value chain

Top Headlines: Take risk, FM to India Inc; Meta's counter to hate speech

The country needs 100 million jobs in the formal sector in the next ten years to take advantage of its demographic dividend, industry says. More on that in our morning briefing.

Retail inflation rises to 4.48% in Oct, reverses 4-month downward trend

4-month downward trend reversed; core inflation rises to 5.8%, substantiates FinMin fears

Stage set for India's investment cycle to kick-start, says FinMin

For the first time since January this year, households expected inflation to fall, according to the RBI survey

India on way to becoming fastest growing economy in world: FinMin report

Armed with necessary macro and micro growth drivers, India is on its way to becoming the fastest growing major economy in the world, a finance ministry report said

Finmin to start process for appointment of MD, DMDs of Rs 20K-cr NaBFID

Last month, the government appointed veteran banker K V Kamath as the chairperson of the National Bank for Financing Infrastructure and Development (NaBFID) for three years

FinMin invites suggestions on taxation from industry and trade bodies

The Finance Ministry has asked for suggestions on taxation from industries and trade bodies for Budget 2022-23, which is going to set the tone for growth of India's economy hit by the COVID pandemic

How inflation could rescue the govt's fiscal deficit act in FY22

Despite the spike, it may not push up govt's borrowing cost much due to various factors such as sale of BPCL and LIC, and lower expenditure levels this fiscal

FinMin reviews Capex plan of urban development, railways ministries

The finance ministry on Wednesday reviewed the progress of capital expenditure (Capex)

Finmin seeks industry inputs on tax rates, exemptions ahead of Budget

The Union Budget for Financial Year 2023 is expected to be presented on February 1

Finance ministry floats four-tier plan for PSB staff accountability

Move comes at a time when banks are reluctant to lend fearing probe

FM asks transport, petroleum, steel ministries to front load capex spending

Sitharaman said infrastructure projects are a priority for the government

New rules enough to protect genuine business decisions of bankers?

The govt has issued a uniform staff accountability framework for NPAs of up to Rs 50 cr to protect bankers taking bonafide decisions. But is that enough to assuage concerns?