Govt to infuse Rs 2.11L cr into PSBs, more banking reforms to follow: 10 facts
Business | October 25, 2017 10:43 ISTThe infusion into PSBs will be based on twin parameters of 'performance and potential', the Finance Ministry said.
The infusion into PSBs will be based on twin parameters of 'performance and potential', the Finance Ministry said.
Arun Jaitley on Tuesday announced a massive Rs 6.92 lakh crore infrastructure spending and another Rs 2.11 lakh crore for bank recapitalisation to revive investments as well as growth.
The Narendra Modi government on Tuesday approved an ambitious road construction and expansion programme of over 83,000 km over the next five years with an investment of about Rs 7 lakh crore.
Arun Jaitley on Tuesday said the Indian economy is on a strong wicket with sound macro-economic fundamentals. He took a graphical approach to explain the achievements of his ministry in the last three years and also to explain the future strategies.
The Union Cabinet on Tuesday announced an aggressive Rs 2.11 lakh crore capital infusion for the NPA-hit public sector banks (PSBs) over a period of two years.
India's direct tax collections for April-September rose 15.8 per cent to Rs 3.86 lakh crore, buoyed by a healthy growth in advance tax mop-up, the finance ministry said.
The government on Monday asked businesses to file final GST returns for the month of July by tomorrow as it ruled out any extension to the due date.
Arun Jaitley made the announcements after a day-long 22nd meeting of the GST Council that took note of the difficulties faced by various businesses.
The fourth bi-monthly monetary policy statement for 2017-18, to be released today, is being keenly awaited by all stakeholders.
The 2017-18 deficit -- the difference between revenue and expenditure -- has been pegged at Rs 5.46 lakh crore for 2017-18, as compared to the deficit of Rs 5.34 lakh crore for the last fiscal.
Since April last year, interest rates of all small saving schemes have been recalibrated on a quarterly basis. The RBI is scheduled to undertake monetary policy review on October 4.
In the discussions for raising capital investments, it also emerged that most of the PSUs have very low or no debt on their balance sheet which is reflected in their low debt to equity ratios.
Finance Ministry said that it is examining three reports on the quantum of black money held by Indians inside the country and abroad that were commissioned by UPA regime.
The Finance Ministry late last night notified the hike in quantum of cess to be levied on cars, following which the new rates came into effect.
About the directors and signatories of the over 2.09 lakh firms, the government said they would not be able to operate bank accounts of such companies till these entities are legally restored
Finance Ministry has sent three study reports on the quantum of black money held by Indians inside the country and abroad to a Parliamentary panel.
Minister of State for Finance Arjun Ram Meghwal also sought suggestions for betterment of capital and commodities market by 2020.
Finance Ministry will take a decision tomorrow on extension of the deadline for linking PAN with Aadhaar.
The government does not plan to reintroduce Rs 1,000 notes that were taken out of circulation by the demonetisation of high-value currency last November
The exercise of printing Rs 200 denomination notes is reportedly being undertaken to further improve the currency situation in the country.
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