Page 61 - Finance Ministry

FinMin to provide capital support from Rs 20k cr fund to some PSBs in Q3

The fund infusion would be for meeting regulatory capital requirements if the need arises in October-December quarter, sources said

Temporary retention, not diversion: FinMin sources on CAG audit of GST cess

Time taken in reconciliation of compensation receipts can't be termed as diversion of GST cess fund when the dues to states were fully released by the central government, they said

Faceless I-T appeal system kicks off today, leaves out fraud and evasion

FinMIn says will benefit both assessees and I-T department, critics say personal hearing required in complex cases

Govt to study legal options after losing Vodafone arbitration case

"The govt will be studying the award and all its aspects carefully in consultation with our counsels," Finance Ministry said in a statement, adding that it will consider all options

Vodafone wins arbitration case against govt in $2 bn tax dispute case

The tribunal, in its ruling, said the government must cease seeking the dues from Vodafone and should also pay $5.47 million to the company as partial compensation for its legal costs

Credit for reform: Centre allows 5 states to borrow Rs 9,913 cr extra

Permission granted on meeting of one-nation-one-ration card reform

Seek approval before re-appropriating funds for travel, other costs: FinMin

Similarly, the office memorandum said there is also a need to protect the capital expenditure

Banks sanction loans worth Rs 1.77 trn to 4.4 mn MSMEs under ECLGS scheme

The latest numbers on ECLGS, as released by the Finance Ministry, comprise disbursements by all 12 public sector banks (PSBs), 24 private sector banks and 31 non-banking financial companies (NBFCs)

5 states allowed to borrow Rs 9,913 cr extra after ration card reform

Andhra Pradesh can borrow Rs 2,525 crore, Telangana Rs 2,508 crore, Goa Rs 223 crore, Karnataka Rs 4,509 crore and Tripura Rs 148 crore, said the Finance Ministry's Department of Expenditure

Covid-19 crisis: Now, FinMin is not so sure about a V-shaped recovery

Officials say people spending less owing to uncertainty

GST compensation row: Have not picked either option, says Puducherry CM

Rebuts FinMin claim that UT is among those to opt for RBI window to meet shortfall in GST

21 states opt for Rs 97,000-crore RBI window to meet GST shortfall

This would help the proposal get cleared in the GST Council in case of voting

FinMin to decide borrowing calendar for H2 of FY21 in Sept last week

One more borrowing as per the calendar is likely to take place on September 25 of Rs 30,000 crore

Govt collects Rs 84,023 cr non-tax revenue in FY21 so far: Anurag Thakur

The central government has so far collected non-tax revenue of Rs 84,023.78 crore during the ongoing financial year, Minister of State for Finance Anurag Singh Thakur said on Sunday. In a written reply to a question in the Rajya Sabha, Thakur said the total corporate tax collection so far during this financial year is Rs 95,533 crore, while the total GST collection in the current financial year is Rs 3,59,112 crore. "The total non-tax revenue collected by the Central Government, so far, during this financial year is Rs 84,023.78 crore (Provisional)," he said. Thakur said the total market borrowings of the central government so far this financial year stands at Rs 7.06 lakh crore. Replying to a separate question, Thakur said the overall expenditure of Government of India stood at Rs 10,54,209 crore as on July 31, 2020. He also listed out few expenditure items related to fighting COVID-19 pandemic, including Rs 8,575.17 crore under 'India COVID-19 Emergency Response and Health Syste

Garib Kalyan Rojgar not implemented in WB as it did not provide info: FM

FM Sitharaman said the Garib Kalyan Rojgar Abhiyaan was not implemented in West Bengal as the state did not provide any data regarding migrant workers who returned to their native places amid Covid-19

No decision to discontinue printing of Rs 2,000 currency note: FinMin in LS

The Finance Ministry on Saturday informed the Lok Sabha that no decision has been taken to discontinue the printing of Rs 2,000 denomination currency notes

Govt's total liabilities rise to Rs 101.3 trn in Q1: Finmin report

Public debt accounted for 91.1 per cent of total outstanding liabilities at end-June 2020, the quarterly report on public debt management released on Friday said

Yield on govt securities moderated sharply in Q1: Finance Ministry report

The additional expenditure has pushed up government borrowing during April-June quarter with the Centre issuing dated securities aggregating to Rs 3,46,000 crore as against Rs 2,21,000 crore in Q1FY20

Govt deviates from norm, asks House to regularise 2-year-old expenditure

Demonstrates the sluggishness at the Centre in finalising its accounts, which means the states have to depend on older data to make their point about revenue and expenditure mismatch

No easing GST rate, automakers should cut royalty payments: FinMin sources

They say companies should cut royalty payments to parents abroad instead of asking GST cut to tide over Covid crisis