Page 82 - Finance Ministry

Govt may select winner in Air India's disinvestment in about three weeks

The Tata group and SpiceJet promoter Ajay Singh are in the race to acquire the loss-making airline

Govt likely to hold 30-70% equity in Vodafone Idea after four years

The move has been questioned by many analysts who say that if both options are taken, it will turn VIL into a government company

Amid rise in Mudra loan NPAs, finmin to meet PSB CEOs to take stock

Minister of State for Finance, Bhagwat Karad will meet the PSB CEOs on September 16 in Aurangabad

Finance ministry gives nod to 11 states to borrow additional Rs 15,721 cr

The Finance Ministry has permitted 11 states to borrow an additional amount of Rs 15,721 crore after these states achieved the capital expenditure target set for the June quarter.

MCA, Finance Ministry hammer out key changes to IBC at review meet

The IBBI has said that the CoC functions in an unregulated environment

Liquidity no longer a major concern, FM Sitharaman assures India Inc

Banks to kick off new credit-outreach programme by October 15

Top headlines: Tax tweaks make PSUs more attractive, Gujarat's new CM

Business Standard brings the top headlines of the day

Finance ministry dials Sebi on T+1, discusses peak margin implications

Sebi is learnt to have assured the ministry that the peak margin norms and other tightening measures are aimed at reducing risk

Telecom package: Discussions between DoT and FinMin at an advanced stage

Matters are also a bit complicated since Telecom Secretary Anshu Prakash is due to retire at the end of September

Economic recovery to continue even in event of third wave: FinMin

The index of eight core industries for July 2021 rose 9.4 per cent year-on-year (YoY)

FinMin releases Rs 9,871 crore to 17 states as revenue deficit grant

The Finance Ministry on Thursday said it has released the sixth monthly instalment of revenue deficit grant of Rs 9,871 crore to 17 states.

V-shaped recovery in Q1 shows strong macroeconomic fundamentals: FinMin

The V-shaped recovery in the first quarter of 2021-22, despite the brutal second wave of the coronavirus pandemic, is a testimony to India's strong macroeconomic fundamentals

I-T portal glitch: FM's reprimand of Infy reflects contractual weaknesses

As former finance secretary Sumit Bose pointed out, govt often does not set clear milestones. The penalties, too, are often most difficult to invoke owing to a 1987 SC ruling

FinMin regularly tracking resolution of tax portal bugs with Infosys: CBDT

Board rolls out statistics to prove the problems on the portal are being addressed

India's fintech market to triple to Rs 6.2 trn by 2025: MoS Finance Karad

The govt's various initiatives have led to fast growth in the fintech sector, which is likely to triple to Rs 6,20,700 crore in value terms by 2025, Minister of State for Finance Bhagwat K Karad said

Faceless assessment: Rules for authentication of e-records submission eased

The finance ministry on Tuesday said electronic records submitted through registered account of taxpayers in the income tax portal shall be deemed to have been authenticated by the taxpayer by EVC

At FSDC meet, regulators told to keep a watch on financial sector

Officials stress need to strengthen resolution framework for financial institutions

India, UK agree to be ambitious on services deal in FTA negotiations

Pointing out that services make up 71% of UK's GDP and 54% of India's, the statement released after India-UK dialogue said both countries recognise importance of services in their economies

FinMin notifies rules for calculating taxable interest in PF account

The finance ministry has notified rules for calculation of taxable interest on employee contributions to provident fund of over Rs 2.5 lakh per annum. In her Budget for 2021-22, Sitharaman had capped the tax-free interest earned on provident fund contribution by employees and employers together to a maximum of Rs 2.5 lakh in a year in an attempt to dissuade high earners from parking their surplus in what is supposed to be the common man's retirement fund. The Central Board of Direct Taxes (CBDT) on Wednesday notified rules for calculating taxable interest in provident fund. It said for the sake of calculation, separate accounts within the provident fund account shall be maintained beginning 2021-22 for taxable and non-taxable contributions made by a person. Nangia & Co LLP Partner Shailesh Kumar said the notification issued by CBDT has finally put to end the ambiguity which arose with the introduction of taxation of interest on provident funds with contribution above the specified

Judicial reforms for strengthening contract enforcement next focus: Sanyal

Weak contract enforcement is the "single biggest hurdle" for economic growth and Narendra Modi government will be focusing on legal and administrative reforms, a senior finance ministry official said