Page 32 - Finance Ministry

PLI a game changer in attracting global firms to set up shop in India: FM

The scheme, announced in the Union Budget 2021-22 with an outlay of Rs 1.97 lakh crore, covers 13 champion sectors

Rs 177 cr found in perfumer Jain's house is biggest ever seizure: Ministry

Further searches are underway at Jain's residential/factory premises in Kannauj

Budget 2022-23: Finance ministry turns tight-fisted for next fiscal year

Government managers are not sure if subsidies can be kept in check in FY23 either

Best of BS Opinion: When AI debates AI, a stark spectacle by any other name

Here is the best of BS Opinion pieces of the day

Budget 2022-23: Avoid sharp fiscal correction, economists tell FM

According to the source, almost all economists recommended the government not to be too aggressive with their fiscal stance

Cash support to Covid-hit economy with fiscal consolidation in focus: Govt

Lower fiscal deficit during H1 implies that the economy is, slowly but surely, getting back on the rails, it said

Most gold seizures at Chennai and Calicut airports this year: FM Sitharaman

Before the pandemic, in 2019-20, the highest seizures in terms of combined weight were in Delhi and Mumbai airports, at 494 kg and 403 kg

Didn't underestimate spending provisions in Budget: FM Sitharaman

Lok Sabha gives assent to additional net spending of Rs 2.99 trn

Advance tax collection rises 54% to Rs 4.6 trn in FY22 so far: FinMin

The finance ministry on Friday said advance tax collection increased by 53.50 per cent to Rs 4.60 lakh crore so far this fiscal year, indicating recovery in the economy. Direct tax collections for 2021-22, as on December 16, show that net collections are at Rs 9.45 lakh crore compared to Rs 5.88 lakh crore over the year-ago period, representing an increase of 60.8 per cent, the ministry said in a statement. "The net collection (as on December 16) in FY22 has registered a growth of 40 per cent over the corresponding period of previous year when the net collection was Rs 6,75,409.5 crore, and a growth of 40.93 per cent over the corresponding period of 2018-19 when the net collection was Rs 6,70,739.1 crore," it said. The cumulative advance tax collections for the first, second and third quarter of 2021-22 stand at Rs 4,59,917.1 crore as on December 16, 2021, against advance tax collections of Rs 2,99,620.5 crore for the corresponding period of 2020-21, showing a growth of about 53.5 p

Income tax portal: Finmin officials hold review meeting with Infosys chief

Revenue Secretary Tarun Bajaj along with senior finance ministry officials held a meeting with Infosys Managing Director Salil Parekh to review the performance of the new income tax portal.

FM to hold pre-Budget meet with infra, financial sector players on Thursday

As part of pre-Budget deliberations, Finance Minister Nirmala Sitharaman will meet infrastructure and financial sector honchos on Thursday to seek their inputs for Budget 2022-23. The two consultations with different stakeholder groups will be held virtually, the Finance Ministry said. "Finance minister Smt. @nsitharaman will be holding consultations with experts of Industry, Infrastructure & Climate Change in forenoon; and experts of Financial Sector and Capital Markets in afternoon," the ministry said in a tweet. It will be the fourth Budget of Modi 2.0 government and Finance Minister Nirmala Sitharaman. The Budget would come against the backdrop of gradual recovery taking place in the Indian economy hit by the COVID-19 pandemic. The growth this fiscal year is expected to be in double-digit. The RBI in its latest bi-monthly monetary policy review pegged a GDP growth of 9.5 per cent in 2021-22. The government has projected a fiscal deficit of 6.8 per cent of the gross domestic ..

Govt may not introduce cryptocurrency bill in ongoing Parliament session

Amid calls for more debate, Parliament's Winter Session, ending on December 23, is unlikely to take up the widely watched legislation.

No estimation of black money in foreign accounts in last 5 years: Govt

Bringing back black money stashed abroad was one of the key poll planks of the current government led by BJP, which assumed power in May 2014

Net income tax mop-up in FY22 at Rs 7.4 trn, Rajya Sabha informed

Budget makers are confident that the net tax collection's budgeted target (direct plus indirect) of Rs 15.45 trillion will be exceeded

Turkey's new Finance minister meets businesspersons amid currency crisis

Nebati briefed the business people about the steps to be taken to increase investment, production, and employment

IIP continued to recover in Oct; Omicron impact to be less severe: FinMin

Department of Economic Affairs asserts that economic recovery to gain further momentum remaining two quarters of FY22

Is India getting its act together on privatisation?

The govt's privatisation policy aims to keep minimum presence in specified strategic sectors and privatise the rest. Let us find out how the Centre is moving ahead with its mega privatisation plan

No plans to boost cryptocurrency sector in India, FinMin tells Lok Sabha

The RBI has been examining use cases and working out a phased implementation strategy for introduction of CBDC with little or no disruption

Over 55% Jan Dhan account holders are women: Finance Ministry

There is no requirement to maintain any minimum balance in PMJDY accounts

Number of ATMs in country at over 213,000, says Finance Ministry

In addition to this, 27,837 White Label ATMs (WLA) were also installed by WLA operators up to September 2021