Page 57 - Finance Ministry

FinMin proposes DFI tag for IIFCL to support long term financial needs

IIFCL is a government-owned entity, which is registered as a non-deposit accepting loan company with the Reserve Bank of India.

Finmin asks PSU general insurers to cut flab, prune branch numbers: Sources

The finance ministry asked public sector general insurance firms, especially National Insurance, Oriental Insurance and United India Insurance, to rationalise branches and cut down avoidable expenses

Public debt in India - II

The security level analysis shows that the large contribution of nominal returns poses a potential risk for unstable debt-GDP dynamics in India

FinMin, Sebi look to ease curbs on NRI investment through FPI route

NRIs who aren't tax residents in India can invest in India-focused offshore funds via the FPI route

FinMin asks ministries to limit spending as per revised targets amid Covid

The Budget meetings for fixing Revised Estimates for 2020-21 and Budget Estimates (BE) for 2021-22 were held between October 16 and November 12

Centre planning mechanism to solve tax issues in real time: FM Sitharaman

The concept, if it becomes effective, will allow taxpayers an opportunity to settle issues by paying the tax due instead of going in for litigation.

Difficult to sustain Rs 1-trillion monthly GST collection, say experts

They believe the October mop-up may have resulted from pent-up demand, and are sceptical about the post-festive season scenario

Covid-19 vaccine must be affordable and accessible: FM Nirmala Sitharaman

At a meeting of the finance ministers of G-20, she said further efforts should be made by members of the grouping to end the Covid-19 crisis.

Govt targets 5-6 mn job creation through Atmanirbhar Bharat Rozgar Yojana

The government will soon seek the approval of the Union Cabinet before notifying the ABRY scheme.

Bihar elections: Suspense on deputy CM, other ministers in Bihar

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West Bengal partially agrees to Centre's GST compensation proposal

In a letter to the Union Finance Minister, Nirmala Sitharaman, West Bengal Finance Minister, Amit Mitra, has suggested that a GST Council meeting may be convened to discuss the borrowing of the remain

I-T relief to help developers liquidate unsold inventory, says FinMin

The Aatmanirbhar Bharat 3.0 package included income tax relief measures for real estate developers and homebuyers

Industry bodies, experts to submit ideas on Budget 2021 via e-mail: FinMin

The Union Budget 2021-22 is expected to be tabled in Parliament on February 1

FM's Diwali gift: Rs 1.2-trn stimulus package to boost growth, create jobs

This stimulus comprises production-linked incentives approved by the Cabinet on Wednesday for as many as 10 sectors

Govt's emergency credit line 2.0 to help India Inc revive, expand

The stressed sectors identified by the panel include aviation, power, construction, steel, roads and real estate.

Stimulus package: Govt may stick to Rs 12-trillion market borrowing target

Fertiliser subsidy will be biggest cost head at Rs 65,000 crore. Housing for all under PM Awas Yojana will cost an extra Rs 18,000 cr

FinMin approves MEIS allocation of Rs 39,000 cr for exports during FY20

The ministry has also directed the Directorate General of Foreign Trade (DGFT) to limit issuance of MEIS scrips to Rs 16,000 crore during the current financial year

New credit guarantee scheme will help India Inc revive, expand: CEOs

Say stimulus measures will spur economic activity, especially in construction and infra sector

Atmanirbhar Bharat 3.0 helps stressed sectors at operational level

Sector-based approach of the 12 announcements made by the Finance Minister would provide succour

Govt offers PF subsidies to employers in Atmanirbhar job incentive scheme

Sop available in the case of both, new hires and those who lost their jobs to Covid; Atmanirbhar Bharat Rozgar Yojana will benefit workers with wages up to Rs 15,000