Page 65 - Finance Ministry

GST rates can be reduced further once tax base increases: Finance Secretary

"Once the tax base increases and if we are able to enforce our tax laws and everyone pays taxes properly, there will be definitely scope for further reduction of taxes."

Govt requests NITI Aayog to work out five-year asset monetisation plan

The final report of the task force on the NIP for 2019-2025 presented to Finance Minister Nirmala Sitharaman in April suggested steps like deepening bond markets

No plan to monetise debt for now, GDP may not shrink too severely: DEA Secy

Tarun Bajaj says proposal of a 'bad bank' discussed internally, but no decision taken

A multilateral solution

Create joint norms on digital taxation with other jurisdictions

Why don't PSBs invoke personal guarantees of promoters: SC on bad loans

Top court asks Finance Ministry to look into plea that claims a loss of hundreds of crore every day due to loan defaults

CAIT urges govt not to decriminalise bouncing of cheques, writes to FM

The finance ministry has proposed to decriminalise a host of minor offences, including those related to cheque bounce and repayment of loans

Lifeline for MFs: PMO suggests steps for resolution of stressed assets

Writes to DEA and Sebi for Covid-19 support fund for closed-ended debt schemes

Sanitisers are disinfectants like soaps, dettol; attract 18% GST: FinMin

Reducing the GST rate on sanitisers and other similar items would lead to an inverted duty structure and put domestic manufacturers at a disadvantage vis-a-vis importers of hand sanitisers

Remove contradictions

FDI clarity is welcome but messaging on trade isn't

PMO, FinMin to discuss revenue position and ways to augment receipts

It is learnt that Chief Economic Advisor Krishnamurthy Subramanian will give a presentation to PMO officials

Stressed NBFCs, HFCs seek Rs 10k-cr support under special liquidity scheme

The scheme was launched on July 1

Assumption of rate cut delivering growth simply not working: Rathin Roy

Rathin Roy expresses concern on the collateral free lending scheme as not making the cut from a regulations perspective.

BSNL, MTNL clinch Rs 15,000-cr sovereign guarantee; DEA sets stiff riders

For BSNL to be eligible for guarantee of Rs 8,500 crore, and MTNL to be eligible for guarantee of Rs 6,500 crore, the state-run telcos will have to pay a 1 per cent fee each.

Spending 50% of capex target by September: An uphill task for PSUs

Union Finance Minister Nirmala Sitharaman had earlier this week asked public sector companies to undertake half their capex for the current year by September.

Ensure safety of bank staff, act against unruly people: FinMin to states

Following the Surat incident, Finance Minister Nirmala Sitharaman had assured that the safety of all members of staff in banks is of importance

Centre may tell IBA to set up 'bad bank' with financial support from banks

The IBA had proposed a national-level asset reconstruction company (ARC) owned by the government with its capital infusion worth Rs 10,000 crore

Govt's cost-cutting drive: Proposal to merge CBDT, CBIC back on the table

Freezing hiring, curtailing allowances, and merging of job categories also on the cards

Green shoots of economic revival have emerged, will grow further: Govt

The report further said that India's forex reserves at $505.6 bn as on June 19 continue to provide a crucial cushion to external shocks on the back of higher FDI, portfolio flows and low oil prices

FinMin may review capital requirement of PSU banks after second quarter

There is widespread fear that non-performing assets (NPAs) of the banks will witness a surge due to the economic slowdown triggered by the Covid-19 outbreak and resultant lockdowns

From ATM withdrawals to a/c balances, banks are back to charging customers

Banks, or the government, did not notify an extension of the ATM related rules, which meant that banks can now charge their customers like before