Page 74 - Finance Ministry

Budget 2020: FinMin seeks industry inputs on direct, indirect tax changes

'Views may be supplemented and justified by relevant statistical information about the production, prices, revenue implication of the changes suggested'

Record Rs 4.9 trillion loans disbursed during Oct-Nov: Sitharaman

Finance Minister Nirmala Sitharaman in September had asked banks to reach out to customers and signal their willingness to lend following all prudential norms

Soma Roy Burman appointed new CGA, becomes seventh woman to hold the post

The government on Sunday said it has appointed Soma Roy Burman, a 1986-batch Indian Civil Accounts Service Officer, as the new Controller General of Accounts (CGA). Burman is the 24th CGA and is the seventh woman to hold this position. "The government appointed Burman, as the Controller General of Accounts (CGA) with effect from December 1, 2019," the Finance Ministry said in a statement. During her 33-year long career, she has held cadre positions at different levels in ministries such as Home Affairs, Information & Broadcasting, Industry, Finance, Human Resource Development and Shipping, Road Transport & Highways. Prior to this, Burman served as the Additional Controller General of Accounts in the office of CGA, handling the critical areas of accounting rules, policy and reforms, financial reporting, data analytics, cash and budget management.

FinMin's claim of slowdown having bottomed out has analysts divided

Some analysts point to raw data available for the festive season and say any meaningful recovery is still to come

India's banks wrote off Rs 2 trillion worth of bad loans in 2018-19

Even as banks have written off more loans than before, recovery of bad loans has also improved substantially in the past couple of years

15th Finance Commission may submit interim report to President on Saturday

Report expected to recommend devolution for FY21

What does tax buoyancy indicate and how does it impact tax devolution?

Poor responsiveness of tax collection to economic growth poses new challenges for norms on sharing taxes with the states

Dr Singh's off-tune song

Remember the retrospective amendments and general anti-avoidance rules of the Congress regime? Not a great example of trust and confidence.

Govt is working on an integrated gold policy, says FinMin official

The policy is aimed at promoting growth of the yellow metal industry and exports of jewellery

PSU banks disbursed around Rs 2.5 trillion in loans during October: Govt

Of the Rs 2.52 trillion, Rs 1.06 trillion was disbursed towards new term loans, while Rs 46,800 crore was towards new working capital loans

PSU banks disburse record Rs 2.52 trn loans in Oct, says Finance Ministry

An amount of Rs 1.05 lakh crore was fresh lending, the Department Financial Services said in a statement.

Govt has no plans to revise fiscal deficit target, says MoS Finance Thakur

Thakur also listed out the steps taken by the government to boost economic activities.

Deposit insurance may be raised to Rs 5 lakh; new wholesale plan in offing

New scheme likely for wholesale at Rs 25 lakh; proposals could figure at RBI board meet

Revenue situation rules out further tax sops for the individual taxpayer

Even tax cuts in 2020-21 could be a difficult proposition as officials dismiss reports of relief for salaried class and scrapping of DDT and LTCG

FM Sitharaman advises farmers to produce oilseeds, which are high in demand

Finance Minister Nirmala Sitharaman on Tuesday urged farmers to produce oilseeds in place of other crops as India particularly imports edible oil and palm oil."We are telling farmers which crops will give them a better price in the area. We are also telling them what all crops can be irrigated or cannot be irrigated on the rain-fed land," she said while addressing the sixth World Congress on Rural & Agriculture Finance in New Delhi."The support price may be given for other things but please do produce oilseeds because they have a great demand in India. Edible oil consumption is also a matter of great concern, as we still import quite a lot quantity particularly palm oil," she said.The Union Minister also requested National Bank for Agriculture and Rural Development (NABARD) Chairman Dr Harsh Kumar Bhanwala to visit Jammu and Kashmir to ensure that the farmers get the correct price of their produce in the next season."You are aware that recently we used NAFED to procure apples ...

FinMin seeks research spending data from other ministries, departments

The Finance Ministry has asked ministries and departments to furnish data on funds spent by them and their autonomous bodies as well as PSUs on research and development (R&D) after Prime Minister's Economic Council pointed out gaps between such expenditure not commensurating with growth of GDP.

Manmohan Singh nominated to parliamentary standing committee on finance

According to sources, Digvijaya Singh resigned from the parliamentary standing committee on finance to make way for the former prime minister

Labour ministry seeks hike in loan ceiling under Mudra, writes to FinMin

Writes to finance ministry for changes in scheme to boost employment, remove disparities

Housing projects under litigation not covered under Rs 25k cr fund: Govt

The Union Cabinet had on Wednesday approved the establishment of a 'special window' fund to provide priority debt financing for the completion of stalled housing projects.

Will telcos get relief on AGR? PMO, Finance Ministry hold talks with DoT

AGR is Adjusted Gross Revenues which includes all licensed revenues of a telecom firm not necessarily originating only from mobile or landline services