Page 38 - Finance Ministry

Tamil Nadu to become third state to present separate agricultural Budget

Experts divided over the outcome, but Andhra experience shows encouraging signs

Third Covid-19 wave unlikely to be as devastating as second: FinMin

Says 68% of the population above six years has antibodies, which would reduce the likelihood of infection

Economic impact of 2nd Covid-19 wave likely to be muted: Finance Ministry

The finance ministry on Tuesday said the economic impact of the second wave of the COVID-19 pandemic is likely to be muted and there are visible signs of economic rejuvenation. The latest Monthly Economic Review, released by the finance ministry, said the "robust recovery in tax collections cushions the fisc towards meeting the budgeted support to the economy". It also said the recent sero-prevalence results signify that India can reduce the likelihood of severe illness due to COVID-19 if the country sustains the momentum of the vaccination programme. "Having antibodies reduces the probability of acquiring serious illnesses, as is borne by studies. So, any subsequent waves are expected to be mild in terms of severity of disease," the ministry said in the report. However, it is imperative that COVID-appropriate behaviour and due protocol is followed. At this juncture, it said, the economy and society are at a crucial inflection point where sustenance of economic recovery, vaccinati

Finance Ministry releases Revenue Deficit Grant of Rs 9,871 cr to 17 states

The Finance Ministry has released its fifth monthly installment of Post Devolution Revenue Deficit (PDRD) Grant of Rs 9,871 crore to the states on August 9

Ending retro tax to boost $5-trn economy dream: FM Nirmala Sitharaman

Rajya Sabha returns Bill to Lok Sabha amid Opposition protests

Army given allocation of Rs 2.84 trn between 2017-18 and 2021-22: Govt

The Indian Army has been given a budgetary allocation of Rs 2.84 trillion between 2017-18 and 2021-22 as against Rs 2.22 trillion in the previous five-year period

Lok Sabha clears Bill to end retrospective tax, Congress backs move

Backing the government's move, former Union Finance Minister P Chidambaram tweeted, "I am glad that we have put an end to an issue that has been troubling us for eight years"

Retro tax must be resolved via Indian law, not arbitral award: Somanathan

Somanathan says that the government doesn't support retrospective taxation since it creates sudden and fresh liability and is not in line with the stability and predictability of taxation

Gujarat: Rs 584-crore sports complex gets finance ministry nod

The Union Ministry of Finance has accorded an administrative approval for the upcoming sports complex in Gujarat's Ahmedabad city, which will be constructed at the cost of Rs 584 crore

Public float exemption for PSUs to have riders in privatisation push

The move is to ensure fairness and prevent arbitrary use of latest dispensation provided by the government

No agenda listed for FSDC's next meet, FinMin expresses surprise

Regulators fail to come up with issues to discuss at FSDC sub-committee meeting this month

SEIS allocation will help tourism-related services

Giving a substantial part of the meagre allocation under SEIS to hotels, restaurants and other tourism-related service providers against their NFE earnings in 2019-20 will help them cope with distress

Top headlines: India sticks to growth forecast; Kerala struggles with Covid

Business Standard brings to you the top headlines on Friday

Finance ministry sticks to double-digit economic growth forecast

Sanyal says ministry's assessment of inflation remains on a par with RBI's

West Bengal govt raises Rs 2,500 crore at 6.99% in RBI auction

The West Bengal government has raised Rs 2,500 crore in state development loans at 6.99 per cent in the latest auction held by the Reserve Bank of India, official data showed.

Finance Ministry invites entries for new DFI's name, tagline and logo

The finance ministry on Wednesday invited entries from citizens for name, tagline and logo for the new Development Financial Institution

Over 687 million transactions done under PM-KISAN scheme, says govt

As many as 68.76 crore transactions have been done under PM-KISAN scheme till the end of June this year

All ministries, departments to review central schemes by July end

The move includes evaluating the budgetary allocation for each scheme and phasing out various elements of schemes that may have become redundant

Gradual tweaks to LIC surplus payouts likely; Finmin exploring a glide path

Finmin exploring a glide path; considering the interests of both policyholders and future shareholders

Rationalise Customs duty

Besides removing exemptions, overall simplification is necessary