Page 87 - Finance Ministry

In relief to taxpayers, govt announces extension of compliance deadlines

PAN-Aadhar linkage deadline is extended by another 3 months till Sept 30; payment without interest under dispute-resolution scheme is extended by 2 months

PNB Housing Finance board followed all due processes: Finance Ministry

Remarks come a day before PNB board meeting

FM Nirmala Sitharaman calls for re-thinking financing for resilient infra

Finance Minister Nirmala Sitharaman on Wednesday made a case for re-thinking financing and development priorities for inclusive, sustainable and resilient infrastructure aligned with Sustainable Development Goals (SDGs). Adopted in 2015, SDGs are the world's shared plan to end extreme poverty, reduce inequality, and protect the planet by 2030. Participating in Asia Infrastructure Forum co-organised by Enterprise Singapore, Ministry of Finance of Singapore and Monetary Authority of Singapore, Sitharaman spelt out various measures taken by the government to boost infrastructure spending by the government. "FM emphasised India's policy-led approach of open, rule-based and transparent economic environment; encouragement to private investment and foreign capital; enhanced public expenditure and robust institutional structure for funding infrastructure development for #ResilentRecovery," the Finance Ministry said in a series of tweets. The Finance Minister highlighted setting up of Natio

Infosys to resolve major issues with new tax filing portal in a week

Sitharaman asked Infosys to work on the tax portal to make it more "humane and user-friendly"

Govt eases listing norms for companies having over Rs 1 trn m-cap

Companies that have a market capitalisation of more than Rs 1 lakh crore at the time of listing can now sell just five per cent of their shares, with the latest amendment in rules, a move that will be beneficial for the government during the proposed initial public offer of LIC. Such entities will be required to increase its public shareholding to 10 per cent in two years and raise the same to at least 25 per cent within five years. The Department of Economic Affairs under the finance ministry has amended the Securities Contracts (Regulation) Rules. Yash Ashar, Partner & Head - Capital Markets at law firm Cyril Amarchand Mangaldas, said there were some concerns that diluting 10 per cent in very large IPOs (Initial Public Offers) in the future maybe very challenging. "With this amendment, companies which at listing will have a market cap greater than one lakh crore rupees will be able to restrict their offer size to 5 per cent (as compared to 10 per cent) and this will ensure more .

FinMin, Infosys to meet on Tuesday, discuss glitches in new I-T portal

Several stakeholders have submitted written inputs highlighting the issues facing the portal as well as areas that need to be fixed

Statsguru: 6 charts explain why inflation risk is growing for the economy

Bloomberg's commodity index is also trending 46 per cent higher

Indians' funds in Swiss banks: Govt seeks details from Swiss authorities

The finance ministry on Saturday asserted that Indian customer deposits in Swiss banks have fallen since 2019, but said it is seeking details from Swiss authorities on the relevant facts

Rupee downward slide expected after hawkish Fed stand, say experts

The rupee has been under depreciation pressure in the recent past

Reserve Bank of India focuses on the 10-year bonds in G-SAP again

The RBI mopped up a record Rs 26,779 cr of the 10-year bond in pre-announced secondary market operation

I-T portal glitches: FinMin invites stakeholders' representations

The deadline for submission of the representations is June 18

Finance ministry to meet Infosys team to discuss IT e-filing glitches

Finance ministry officials will meet representatives of Infosys on June 22 to discuss issues and glitches in the new income tax e-filing portal

FinMin notifies concessional GST rate on Covid-related items, services

The rate on Remdesivir and Anticoagulants like Heparin is lowered from 12 per cent to 5 per cent.

Finmin asks ministries to work out govt guarantee plan for FY'22

The finance ministry has asked all ministries and departments to assess the government guarantee requirement for the current fiscal and submit a prioritised list.

Govt asks ministries, departments to cut 'controllable' expenditure by 20%

The move comes amid concerns that the fiscal deficit may exceed the FY22 target of 6.8% of GDP

Faster Covid vaccination critical for economic recovery, says FinMin

Expects manufacturing, construction sectors to be in stress in ongoing qtr

Quicker vaccination coverage critical for regaining growth momentum: FinMin

Quickening the pace and coverage of vaccination of people is critical for regaining growth momentum as economic activities are inextricably linked to the path of pandemic, the finance ministry said

Faster vaccination, frontloading of fiscal steps key to recovery: FinMiN

Economic activities have slowed down amid the second wave of Covid-19 and lockdowns across states

Covid-19 vaccine spend may go up by 40%: Finance ministry estimates

Sources in the ministry said Finance Secretary T V Somanathan had a discussion with Health Secretary Rajesh Bhushan on the initial assessment of budgetary allocation of Rs 35,000 crore for vaccines

Free Covid-19 vaccines, food to cost an additional Rs 80,000 cr: Report

The government may not have to tap the bond market for the funds to finance free inoculation.