Page 39 - Finance Ministry

Statsguru: Performance and challenges of co-operative sector in India

Even though a fifth of these cooperatives are in the financial sector, their share has remained low

Govt must cut number of slabs in Customs duty

The finance ministry has made a good beginning by reviewing the exemptions with intent to eliminate them

Govt seeks Parliament nod for net additional Rs 23,675 crore spending

Finance Minister Nirmala Sitharaman on Tuesday sought Parliament nod for net additional spending of Rs 23,675 crore in the first batch of supplementary demands for the current fiscal year. As per the first batch of supplementary demands for grants tabled in the Lok Sabha, approval is being sought for gross additional expenditure of over Rs 1.87 lakh crore. Of this, the proposals involving net cash outgo aggregate to Rs 23,674.81 crore and gross additional expenditure, matched by savings of the ministries/departments or by enhanced receipts aggregates to over Rs 1.63 lakh crore.

Excise duty on fuel calibrated to generate resources for infra: FinMin

The excise duty rates on petrol and diesel have been calibrated to generate resources for infrastructure building and other developmental expenditure keeping in view the prevailing fiscal situation

Creditors got Rs 2.45 trn from 394 resolution cases under IBC: FinMin

Amount realised in top 100 CIRPs is Rs 2.37 trillion, over 36% of admitted claims

Recovery of bad loans impacted due to Covid pandemic, says B K Karad

The recovery as a percentage of gross non-performing assets moderated to 12.8 per cent in 2020-21 from 15.8 per cent in the previous fiscal year against the backdrop of the pandemic

Over Rs 81,000 crore due to states as GST compensation for 2020-21

Over Rs 81,000 crore GST compensation is due to states for 2020-21, while for April-May this year, Rs 55,345 crore is outstanding, Parliament was informed on Monday.

Govt plans to complete LIC IPO in current fiscal, says B K Karad

The government plans to complete the initial public offering of Life Insurance Corporation (LIC) in the current fiscal, the Minister of State for Finance Bhagwat Kishanrao Karad said on Monday.

Central banking conundrum

RBI should not continue to ignore inflation risks

Wide-ranging reforms make India attractive destination for investment: FM

India's continuous wide-ranging reforms make the country an attractive destination for foreign investments, Finance Minister Nirmala Sitharaman said on Friday while addressing executives of top US companies. She also mentioned about stimulus packages announced recently; as well as strong, calibrated relief and reforms during COVID leading to sharp decline in new infections with ramping up of the vaccination programme. Addressing a round-table organised by the US India Business Council (USBIC) -- attended by representatives from prominent foreign firms like General Electric, Baxter Healthcare USA, Brambles, Marsh & McLennan, PepsiCo, amongst others, the Finance Minister said India and the US have set an ambitious target of achieving USD 500 billion in two-way trade. Continued macro-economic stability and resilience in economic recovery in the recent months, focus on infrastructure-led economic growth, and multi-sectoral opportunities for investors are some of key highlights shared .

Real winners of the reshuffle

New responsibilities for the finance minister and the home minister indicate the government's focus on privatisation and cooperatives

Finance ministry puts on hold examination for clerical cadre in PSU banks

The Finance Ministry directed the Institute of Banking Personnel Selection to put on hold examination for clerical cadre in PSBs till a final view is taken on conducting tests in regional languages.

LIC IPO gets Cabinet nod; decision on issue size soon by FM-led panel

The government is targeting the launch of LIC's IPO in the last quarter of the financial year as it is yet to derive the embedded value of the insurer.

FinMin estimates 670 mn vaccine doses will be given before festive season

Average vaccination rate doubled in June to 4.13 mn doses from 1.93 mn in May after the implementation of the new vaccination policy, the finance ministry said

Economy recovering due to targeted fiscal relief, rapid vaccination: FinMin

This is on the back of targeted fiscal relief, monetary policy and a rapid vaccination drive: FinMin

Ministry of Finance releases Rs 9,871 crore grant to 17 states

With the release of this installment, a total amount of Rs 39,484 crore has been released to eligible states in current financial year.

Govt's move to bring DPE under FinMin to aid privatisation process

The changes are being done as govt looks to maintain "bare minimum" presence in PSUs in strategic sectors and privatise, merge, or close the remaining state-owned entities

FinMin gets bigger: Dept of Public Enterprises now part of Finance Ministry

Finance Ministry will now have six departments while DPE's hereto parent ministry, the Ministry of Heavy Industries and Public Enterprises will now be called the Ministry of Heavy Industries.

Ahead of cabinet expansion, govt brings DPE under finance ministry

Earlier, the DPE came under the Ministry of Heavy Industries and Public Enterprises

Finance ministry begins an independent survey on faceless scheme

The survey will cover about 200,000 scrutiny cases, which will include complex cases as well