Page 24 - Finance Ministry

India's external debt rose to $614.9 bn at end of December 2021

The external debt to GDP ratio fell marginally to 20 per cent at the end of December last year from 20.3 per cent at the end of September 2021

After Sebi diktat, Canada FPIs likely to knock on Finance Ministry's door

Canada ranks seventh in terms of FPI investments into India, the total being Rs 1.7 trillion as of February 28 this year.

States panel likely to bat for system tracking dealers' transactions

The panel may also suggest integrating the Goods and Services Tax Network with NPCI to curb frauds in tax refunds

Russia-Ukraine war disrupting global supply chains: FM Sitharaman

'Focusing on growth, recovery with predictable tax regime'

New crypto tax law discriminatory in treating different assets differently

Since 1956, all Indian governments have thought that economic discrimination is fine, but political or social discrimination is not

Govt should come out with legislation on crypto soon: Cong MP Gaurav Gogoi

The government is still sending mixed signals on virtual digital assets and there should be clarity on the definition of crypto, he said while initiating a debate on the Finance Bill in Lok Sabha

Centre releases Rs 6,000 cr to states as GST compensation

Till now, 70% of the total estimated Goods and Services Tax compensation shortfall has been released to the states

Top headlines: RBI reviews payment firms; US recovery helps India exports

The RBI has decided to review the business models of payment aggregators in view of a spate of frauds hitting customers.

FinMin proposes changes to Finance Bill for crypto assets' taxation

FM Sitharaman is expected to move an amendment clarifying that no tax deduction or set off would be available in place of mining cost of crypto assets and other VDAs or losses from their transfer

FinMin proposes amendments, seeks to tighten norms for crypto taxation

The government on Thursday proposed to tighten the norms for taxation of cryptocurrencies by disallowing set off of any losses with gains from other virtual digital assets

Govt sets Rs 1-trillion infrastructure lending target for DFI

An action plan is being prepared on making the newly set up DFI functional and operationalising the Rs 1-trillion target

Centre may seek crypto log on transactions from banks, exchanges

Sale and purchase of digital assets will reflect in the AIS

Best of BS Opinion: A sub-optimal solution, handle with care & more

Here are the best of BS Opinion pieces of the day

Handle with care

Address risks before introducing CBDC

Banks recover nearly Rs 61,000 crore via one-time settlement of loans

The figures are for the last three financial years and up to December 2021 of the current fiscal

West Bengal's economic slide continues

At the end of March, its outstanding debt is expected to increase from about Rs 4.82 trillion in 2021 to about Rs 5.29 trillion in 2022 and further to a little more than Rs 5.86 trillion in 2023

Crypto mining cost not to be allowed as deduction under I-T Act: FinMin

The minister said while computing the income from transfer of VDA, no deduction in respect of any expenditure (other than the cost of acquisition) or allowance is allowed

Work to identify beneficiaries for basic income to women on: Tamil Nadu FM

The work to identify eligible beneficiaries of the assistance to women heads of families is on in full swing, Finance Minister of the State Palanivel Thiaga Rajan told the Assembly on Friday.

Budget: Tamil Nadu to close FY23 with Rs 6.3-trn debt, says state FM

Tamil Nadu is expected to end up with a total debt of Rs 653,348.73 crore by March 31, 2022, Finance Minister Palanivel Thiaga Rajan said on Friday.

SBI signs agreement to provide $1-bn credit facility to Sri Lanka

The finance ministry on Thursday said State Bank of India (SBI) will provide $1 billion credit facility to Sri Lanka for procurement of food, medicines and other essential items.