Page 40 - Finance Ministry

The current 'inflation' is a mystery. FinMin, RBI must tread carefully

At a time of declining incomes, people don't have money. So they do not buy. If they don't buy, prices must fall, not increase. What, then, explains the inflation? T C A Srinivasa Raghavan explores

Statsguru: In a year dominated by Covid-19, financial stability is intact

The central bank now expects about 9.8 per cent of gross advances to be non-performing by March 2022, in the baseline scenario

30 years of economic reforms: Here's a look at the broad contours of change

The pace of changes in the first 100 days of a minority govt remains unparalleled till today

Reserve Bank of India changes methodology to ensure bond auction success

Adopts uniform price auction for bonds up to 14 years till further notice

4 years later, our worst fears have been confirmed with GST: Tamil Nadu FM

There is lower income inequality in Tamil Nadu than it is in most places. Therefore, we are also a very high-consumption state, said Tamil Nadu FM Thiagarajan

Enhanced GST revenue collections should now be 'new normal': FM

Commending taxmen for enforcement measures in dealing with GST fraud, Finance Minister Nirmala Sitharaman said the enhanced revenue collection in the recent months should now be the 'new normal'

Govt keeps interest rates on small savings schemes unchanged for Sept qtr

The schemes will continue to fetch small investors better rates than other fixed income avenues such as bank fixed deposits

Finance ministry to issue appreciation certificates to 54,439 GST payers

The ministry said it will issue certificates of appreciation to over 54,000 GST payers for timely filing of returns and cash payment of the tax, to mark the 4th anniversary of the historic tax reform

Finmin reimposes spending curbs on ministries, depts for Q2 of FY22

Move made keeping in mind cash position ahead of likely third wave; health, MSME and rural development spared restrictions

Indices end in red despite FM's relief announcement; Titan falls over 1%

The Sensex fell 189 points, led by losses in index heavyweights Reliance Industries, TCS, and HDFC amid a negative trend in global markets.

Experts doubt India's new loan guarantees will boost economic growth

Industry leaders and economists said the new loan guarantees, amounting to $35 billion, may provide some temporary relief but would not be sufficient to boost economic growth.

Health, credit, jobs: FM announces 8 measures to revive economy in pandemic

Nirmala Sitharaman unveils more support measures for the economy, including a 50% expansion in its emergency credit program.

1991 ushered in many relationship changes; govt-RBI one was the foremost

From 1991 onwards, the RBI became a full, if slightly junior, partner of the finance ministry, instead of being a 'mere subordinate department of the financial ministry'

No resumption of DA, DR from July 1 for central govt employees: FinMin

The Ministry of Finance on Saturday clarified that no order regarding resumption of dearness allowance (DA) for the central government employees and dearness relief (DR) for the central government pensioners from July 1 has been issued.In 2020, the Ministry of Finance announced to freeze the hike in DA and DR till July 2021.Taking to Twitter, the Finance Ministry said a fake document is doing rounds on social media claiming resumption of DA to Central Government employees and Dearness Relief to Central Government pensioners."A document is doing rounds on social media claiming resumption of DA to Central Government employees & Dearness Relief to Central Government pensioners from July 2021. This OM is #FAKE. No such OM has been issued by GOI," it tweeted.According to the order issued on April 23, 2020, no arrears will be paid for the period from January 1, 2020, to June 30, 2021."As and when the decision to release the future instalment of dearness allowance and dearness relief .

No order issued for payment of increased DA, DR, says Finance Ministry

The Finance Ministry on Saturday said that no order relating to the payment of increments in dearness allowance for central government employees and dearness relief for pensioners has been issued. In a tweet, the Ministry said a document is doing the rounds on social media claiming resumption of DA to Central Government employees & Dearness Relief to Central Government pensioners from July 2021. "This OM (Office memorandum) is #Fake. No such OM has been issued by GOI," it tweeted. In April last year, the finance ministry had put on hold increment in dearness allowance (DA) for 50 lakh central government employees and 61 lakh pensioners till June 30, 2021, due to the COVID-19 pandemic. In view of the crisis arising out of COVID-19, it has been decided that additional instalment of dearness allowance payable to central government employees and dearness relief (DR) to central government pensioners due from January 1, 2020, shall not be paid." The additional instalment of DA and DR ..

Centre exempts tax on expenses incurred for Covid-19 treatment

This exemption is applicable to any amount paid by the employer, and limited to Rs 10 lakh if received from any other person, the finance ministry notified

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"