Page 8 - Finance Ministry

Krishnamurthy Subramanian's termination was India's call, says IMF

Sources said the reasons for Subramanian's termination included alleged impropriety in using his position to promote and publicise his latest book India@100

Govt preparing response to SC verdict on ₹19,700 cr JSW-Bhushan Power deal

The Supreme Court rejected JSW Steel's resolution of BPSL under the corporate insolvency resolution process, ordering the liquidation of the debt-laden company

RBI seeks 'vostro' accounts investment cap removal to push Rupee trade

The holders of such accounts can invest in Indian government debt without registering as foreign portfolio investors (FPIs), as overseas investors have to

Regional banks to function under 'One State, One RRB' from today: Details

28 Regional Rural Banks, down from 43, with more than 22,000 branches, will serve 700 districts in India

Ministry of Finance initiates search for a new whole-time member for Sebi

The new WTM may serve for up to five years, as specified in the appointment order, but must retire upon reaching the age of 65

Despite global risks, Indian economy poised for steady growth: FinMin

With the right strategies in place, continued domestic reforms, and a strong focus on infrastructure development and job creation, the economy can demonstrate resilient growth despite global uncertainties, a finance ministry report said on Tuesday. India's long-term growth is driven by macroeconomic stability, a resilient external sector, declining fiscal deficit, easing inflation, improving employment prospects, and high consumption expenditure, the March edition of Monthly Economic Review released by Department of Economic Affairs said. Private capital formation holds the key to the sustainability of this favourable constellation, it said, adding that public policy and regulatory measures can both facilitate and nudge the private sector to do its part. Nevertheless, it said, while geopolitical uncertainties present challenges for India, too, they also offer an opportunity to strengthen its position in international trade and manufacturing by leveraging its comparative advantages i

Finance ministry plans unified portal for govt-sponsored schemes

This is set to boost efficiency and reduce redundancy while providing greater convenience to bank functionaries implementing these schemes, said a senior government official

From Amazon to Google: Global SaaS companies face fresh tax demands

Demands raised for FY22, FY23

From watches to horses: Now, 1% TCS on luxury goods over ₹10 lakh

Earlier, TCS under Section 206C (1F) was applicable primarily to the sale of motor vehicles above ₹10 lakh

FinMin pushes banks to boost farm loans against e-warehouse receipts

So far, only eight banks have joined the NCGTC for credit guarantee coverage, while 26 banks have signed up for the e-KUN portal which is part of the Jansamarth portal

No GST on UPI transactions above ₹2,000, clarifies Finance Ministry

A ministry release said that since currently no MDR is charged on UPI transactions, there is consequently no GST applicable to these transactions

FinMin to hold high-level talks on 'One State, One RRB' execution on May 6

On April 7, the Union government released a gazette notification announcing the amalgamation of several RRBs, effective from May 1, 2025

FinMin sets Rs 17.31 trillion MSME lending target for PSBs in FY26

MSME lending target for PSBs raised 19.5%

Ajay Narayan Jha steps down from Finance Commission with 6 months to go

The former finance secretary was appointed secretary, expenditure, in the Ministry of Finance in October 2017 and remained in office until February 2019

Aviation ministry seeks FinMin help to boost aircraft leasing at GIFT City

It has also raised concern over slow progress in developing aircraft leasing in India

ED leads finance ministry pack, but conviction rates offer cold comfort

The finance ministry houses a dozen or so investigative agencies but the large pendency of cases in various courts and tribunals raises questions about where their efforts are headed

PSBs red flag technical glitches in implementing PM Vidyalaxmi scheme

Among the key issues highlighted are persistent technical glitches, including repeated login failures due to server-level errors and frequent auto logouts from the portal

RBI rate cut, credit growth, MSME, Shriram Finance, 5 day banking wk & more in this week

The RBI’s rate-setting panel cut the repo rate by 25 bps to 6% and shifted its stance to 'accommodative'.

DPE-Dipam merger may be completed in 6 months to streamline operations

The official further explained that the government's new approach to CPSEs has evolved

Finance ministry notifies form ITR-B to report undisclosed income

Form ITR-B allows the assessee to claim TDS (tax deducted at source) and TCS (tax collected at source) credit against undisclosed income