Page 59 - Finance Ministry

India sets aside Rs 50,000 cr to vaccinate population against Covid: Report

The money provisioned so far is for the current financial year ending March 31 and there will be no shortage of further funds for this purpose

FinMin fixes ceiling for ad hoc bonus at Rs 7,000 for govt employees

Employees of Central para-military forces and armed forces would be eligible for this ad-hoc bonus

Top headlines: Farmer survey on agri laws; CPSEs told to spend 75% of capex

Business Standard brings you the top headlines of the day

FinMin kick-starts Budget making exercise amid contraction pressure

The nearly one-month long exercise to finalise the Revised Estimate for FY21 and Budget Estimate for FY22 began on Friday.

Govt approves 14th tranche of electoral bonds; sale closes on October 28

The Election Commission of India (ECI) accorded 'no objection' from the Model Code of Conduct (MCC) angle on October 15 with certain conditions, a finance ministry statement said

GST shortfall: Govt issues fresh borrowing calendar with extra Rs 1.1 trn

The additional amount for meeting the GST compensation shortfall shall be raised equally at the rate of Rs 55,000 crore under the 3 year and 5 year tenors

India witnessing V-shaped recovery, govt steps to spur economic growth: FM

Sitharaman mentioned that recovery and rehabilitation efforts in these countries must not be allowed to be undermined in any manner, a Finance Ministry statement said

Centre to borrow Rs 1.1 trn to meet states' shortfall in GST compensation

The amount so borrowed will be passed on to the States as a back-to-back loan in lieu of GST Compensation Cess releases

Centre to borrow to make up for states' GST shortfall: Finance Ministry

Finance Ministry on Thursday said the central government will borrow Rs 1.1 trillion to make up for the shortfall in GST of states

Second round of stimulus to provide limited support to growth: Moody's

The government's second round of stimulus will spur consumer spending in the near term but support to economic growth will be minimal, Moody's Investors Service said on Thursday

GST compensation: 21 states may borrow Rs 78,000 cr above Rs 1.1 trn option

Tamil Nadu opts for special window, gets permission to borrow Rs 9,600 crore, Kerala reacts strongly to the Centre's move to 'divide" states

GST shortfall: Govt allows 20 states to borrow Rs 69,000 crore more

Dissenting states explore legal options, may move Supreme Court

Covid-19 impact: Railways looks to FinMin for pension liabilities

The railways is the only government department which meets the pension expenditure of its retirees from its own receipts.

Cabinet to soon consider new public sector enterprises policy: Report

Union Cabinet will soon consider new public sector enterprises policy that will define strategic sectors, which will not have more than four PSUs, Finance Ministry official sources said on Tuesday.

No change in govt's borrowing programme for current fiscal: DEA Secy

As part of its efforts to stimulate the economy, Finance Minister Nirmala Sitharaman announced a slew of measures to spur demand and ramp up capital expenditure

Govt announces cash-for-LTC, festival advance to boost consumer demand

FM Sitharaman announced a payment of cash in lieu of LTC and Rs 10,000 festival advance to government employees to stimulate consumer demand during the festival season and boost the economy

Govt trains guns on boosting consumer & capital demand with Rs 73K cr push

The govt estimates that today's announcements will give a Rs 73,000 cr boost to demand in the economy in this financial year

GST Council: No voting expected on new compensation borrowing options

The finance ministry has ruled out voting on the borrowing options given by the Centre to the states in lieu of their GST compensation dues at the next GST Council meeting on Monday

PSBs on-board 15 mn account holders on digital payment modes in 45 days

The Finance Ministry on Friday said that public sector banks (PSBs) have on-boarded about 1.5 crore customers on digital payment modes in just 45 days of launch of the 'Digital Apnayen' campaign. The campaign, aimed at encouraging customers to use digital banking channels, was launched on August 15 under the aegis of the government's Digital India initiative. "Pushing digital payment adoption further with the #DigitalApnayen campaign! Started on 15th Aug'20, DFS's campaign has already onboarded >1.58 Cr. Customers and has resulted in deployment of 50k PoS, >3L QR codes & 18k BHIM Aadhaar pay devices in just 45 days," Department of Financial Services said in a tweet. Under the campaign, banks were asked to on-board a minimum 100 new customers including merchants and financial inclusion account holders by each branch on digital payment mode. Banks were also advised to consider reward and recognition programme for their branches and business correspondents and other field ...

Taxpayers have to show only FY19 transactions in annual GST return: FinMin

The ministry said certain representations have been received stating that certain tables in the auto populated GSTR-9 for the year 2018-19 also include the data for the financial year 2017-18