Page 78 - Finance Ministry

Telecom revenue shortfall will not affect fiscal situation: FinMin

The telecom department's (DoT's) plea to the finance ministry on inability in meeting its 2017-18 revenue target will not affect the fiscal situation in a big way, say policy makers at the latter. However, economists differ and say that in a year of revenue uncertainty due to the new goods and services tax (GST), any shortfall in budgeted revenue will have to be matched by an equivalent cutting of expenditure. DoT had written that it would not be able to meet its revenue target of Rs 47,305 crore for FY18; it has asked the finance ministry to revise this projection to Rs 29,524 crore, almost a 40 per cent fall. Their letter pointed to severe financial stress in the telecom sector and rapidly declining revenue of all major operators.Finance ministry officials say in a total budget of Rs 21.47 lakh crore, a question on Rs 17,781 crore would not make much of a dent."There will be a case wherein the revised estimates for telecom revenues will be lower than budgeted estimates. Such ...

After SBI, 4 other govt banks asked to weigh acquisition of smaller peers

Niti Aayog sets tone, tenure of roadmap for second round of consolidation in banking sector

FinMin meets bankers to sort out liquidity issue

SDF is a tool used for sucking out surplus liquidity without the need for a collateral in exchang

Adhere to spending cap in March: FinMin to ministries

Regular sanctions and bills should be put on the PFMS portal by March 20, says Finance Ministry

CJI J S Khehar asks FinMin to give details on major tax cases

Decision in one case could have a cascading effect in disposing of several others

Finance Ministry to finalise capital infusion of Rs 8K cr within 15 days

Government has already announced fund infusion of Rs 22,915 crore

FinMin reels off statistics, says data call for rating upgrade

It also explained the representatives strict fiscal discipline that the government intends to follow

FinMin warns employees of action for criticising govt policies

Instructions cite rules that bar govt servant from criticising policy or govt's action

Avoid spending rush in March quarter: FinMin asks govt departments

Fiscal deficit has been pegged at Rs 5.33 lakh crore, or 3.5 per cent of GDP, in 2016-17

Tax breather for foreign investors: All you need to know

CBDT circular had raised multiple taxation concerns

No collaboration with UK firm for printing plastic notes: Finance Ministry

Congress had earlier alleged that the govt had shortlisted a blacklisted firm to print plastic notes

Three key members of finance ministry to retire after Budget

To make room for a new set of officers to carry the baton of the Budget programmes

Why the politics of continuity gives longevity to policies

Shaktikanta Das will retire in Feb-end, Anjuly Chib Duggal in August, and Ashok Lavasa in October

No bank officials will be spared if found involved in wrongdoings: FinMin

The Axis Bank earlier on Tuesday suspended its 19 officials allegedly involved in illegal activity post demonetisation

Weak global demand strongest challenge for economy: Finance Ministry

The IMF has projected India to grow at 7.6 per cent in 2016-17 and 2017-18

Finance Ministry to hold meeting with top management of banks tomorrow on NPAs

The meeting would focus on non-performing assets (NPAs) in sectors like steel, power, and infrastructure

There will be no job losses, Finance Ministry assures CBEC officers

Central excise officers flagged their concerns about the use of technology and transfer of any assessee of excise and service tax to states under the new framework

Finance ministry backs banks on easing provisioning

Officials hope RBI will help in boosting credit flow to support growth

Govt warns employees against criticising policies

In an order, Centre cites service rules and threatens with stopping benefits

FinMin seeks early GDP estimates, MoSPI says no

Latter to share data informally, but will release advance estimates after Budget