Page 63 - Finance Ministry

Need to re-orient policy mix to rebuild economy in post-Covid world: Finmin

Ministry asserts India is on V-shape recovery path from Q2 onwards; says GDP plummeted most because of severest lockdown measures taken against pandemic

Finance Minister asks banks to roll out loan restructuring scheme by Sep 15

Nirmala Sitharaman asked banks, NBFCs to roll out loan restructuring scheme for Covid-related stress by September 15, and provide adequate support to the borrowers following the lifting of moratorium

SC protects loans not declared NPAs till Aug 31 from such action for now

The Supreme Court Bench said if a loan account had not been declared bad as of the end of August, it should not be classified as NPA till the moratorium case was disposed of

Gross GST collections in Aug down 1.11% month-on-month to Rs 86.449 cr

The gross GST collection in August stood at Rs 86,449 crore, down from Rs 87,422 crore collected in July, the Finance Ministry said on Tuesday.

Govt writes to states, suggests borrowing options to meet GST shortfall

States could borrow via a special window centre will facilitate through the RBI or they may raise debt from the market, says finance ministry

Icra finds FinMin's estimates of GST compensation gap much smaller

Estimates by Icra put the total gap at Rs 2.92 trillion against the ministry's estimates of Rs 2.35 trillion

States seek 7 days on options as Centre says GST collection impacted

The coronavirus pandemic was an "act of God" that may even lead to contraction in the economy, says Finance Minister.

Demonetisation, GST & more; Arun Jaitley's contribution to Indian politics

With Jaitley as the finance minister, the Modi government was able to take several key economic initiatives like demonetisation and the implementation of the GST

GST reduced tax rates, doubled taxpayer base to 12.4 million: FinMin

The number of assessees covered by the GST at the time of its inception were about 6.5 million

'I Miss my friend a lot': PM Modi on Arun Jaitley's death anniversary

The Prime Minister also tagged a video of his comments during a prayer meeting in his memory

GST has reduced the rate at which people have to pay tax: Finance Ministry

GST has helped increase compliance and doubled taxpayer base to 12.4 million, the ministry said in a series of tweets

FinMin should remove irritants in in-bond manufacture scheme

The finance ministry deserves appreciation for trusting manufacturers. But there are still some issues regarding the in-bond manufacture provisions, which need due attention

Rs 1.51 tn disbursed to MSME sector under emergency credit plan, says govt

There has been a big jump in the sanctions in the last 15 days, says finance ministry.

Banks sanction over Rs 1 trillion concessional loans to KCC holders

The Finance Ministry said banks have sanctioned over Rs 1 trillion concessional loans to Kisan Credit Card (KCC) holders to help farmers meet financial requirements during the COVID-19 crisis.

FinMin says NSDL will create awareness about National Pension System

The Finance Ministry on Tuesday said NSDL e-Governance Infrastructure Ltd will undertake an exercise to create awareness among people about the National Pension System (NPS)

Handling the dollar rush

More often than not a dollar deluge is primarily due to a sudden and large capital inflow, and not a compression of imports

Govt keen to speed up stake sale in four PSU banks this fiscal: Report

Govt wants to overhaul the banking sector and is also pushing for privatisation of banks and other PSUs to help raise funds for budgeted spending amid a fall in tax collections

Taxpayers don't need to mention high-value transactions in ITR form: Report

Government is not considering any modification in the ITR form

FinMin defends proposal to bring some expenditures under I-T scanner

Sources say burden on reporting transactions will not fall on assessees

Working on pay norms of retired officials, re-appointed on contract: FinMin

The expenditure department has framed draft regulations for salary payments in case of appointment of retired central government employees