Federal Bank on Saturday said it has committed to investing Rs 300 crore in beleaguered Yes Bank for subscription of its 30 crore shares. "The Bank has issued an Equity commitment Letter to invest Rs 300 crore in YES Bank Ltd for subscription of 30 crore equity shares of Yes Bank at a price of Rs 10 per Equity share," a regulatory filing said.
Finance Minister Nirmala Sitharaman on Friday said the government as well as the RBI are "closely monitoring" the domestic and global stock markets, which are facing intense volatility amid mounting coronavirus fears.
A bill providing opportunity to taxpayers to settle disputes by paying just due taxes with complete waiver of interest and penalty by March 31 was passed by the Lok Sabha amid din on Wednesday.
Finance Minister Nirmala Sitharaman on Sunday asked civil accounts officers to focus on bringing in more efficient and adaptive technologies to further smoothen the working of the Public Financial Management System (PFMS).
With an eye on the assembly elections in 2022, Punjab Finance Minister Manpreet Badal on Friday presented a populist but deficit Rs 1.54 lakh-crore budget for 2020-21.
Finance Minister Nirmala Sitharaman on Sunday said the idea behind introducing second alternative tax slabs sans exemptions is to take the country towards "a simplified, exemption-free and reduced rate of tax regime.
A day after Finance Minister Nirmala Sitharaman said economic growth was rebounding, government data on Wednesday showed that industrial output contracted by 0.3 per cent in December while retail inflation jumped to a 68-month high of 7.59 per cent in January on high food prices.
Finance Minister Nirmala Sitharaman on Tuesday said the economy is not in trouble and green shoot are visible with the country moving towards a USD 5 trillion economy .
Finance Minister Nirmala Sitharaman on Sunday said that the foundation for achieving the goal of USD 5 trillion economy by 2024-25 has been laid in the union budget which stressed on increasing capital expenditure for infrastructure.
Slamming budget 2020, Shiv Sena leader Kishore Tiwari termed finance minister Nirmala Sitharaman's 16-point action plan for agriculture in Budget just an eyewash.
Delhi Chief Minister Arvind Kejriwal has said that Delhi was having high expectations from Budget 2020 as Finance Minister Nirmala Sitharaman presented it in the parliament but once meted out with step-motherly treatment.
Union Finance Minister Nirmala Sitharaman on Saturday said that the work on Prime Minister Narendra Modi's ambitious 508-km Ahmedabad-Mumbai High Speed train project will be actively pursued and also said that it will set up 'Kisan Rail' through public private partnership (PPP) for transportation of perishable goods.
Budget 2020 updates: Finance Minister Nirmala Sitharaman on Saturday presented her second union budget with a vision to revive the economy. The biggest take away from her budget speech is the introduction of new income tax regime which will be a major relief for the middle class.
Budget 2020: As the Budget presentation comes amid an economic slowdown, expectations are high that the Union budget could provide the much-needed boost or balm-propel investments and demand and, most importantly, lift sentiment.
The Economic Survey 2019-2020 has pointed out high drop out rates at various levels of schooling and lack of affordability in higher education as areas of concern.
Congress spokesperson Gourav Vallabh has hit out at the government saying, "In the last 5.5 years, the country's debt has shown an increasing trend in terms of absolute amount. In March 2014, the total debt was Rs 53.11 lakh crore, whereas in September 2019 the same has increased to Rs 91.01 lakh crore."
Union Finance Minister Nirmala Sitharaman has said the kind of cleaning in the system that the BJP-led government had to carry out after coming to power in 2014 was "unbelievable".
Union Budget 2020-2021 will be presented by Finance Minister Nirmala Sitharaman on February 1 as the first phase of budget session will commence from January 31 and remain effective till February 11
She said that while she was meeting states regarding GST compensation issue, "there was a confusion", that Nirmala Sitharaman has withdrawn from a GoM.
The Minister also told MPs the government has also decided to import to procure from the open market of countries with a surplus and from onion-growing regions. She further added steps are being taken for distribution of the onion through open mandis auction .
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