The Finance Ministry on Sunday said five states, including Tamil Nadu and Telangana, have been permitted to borrow an additional Rs 16,728 crore following completion of stipulated reforms for 'Ease of Doing Business'. Andhra Pradesh, Karnataka and Madhya Pradesh are the other states which have been permitted to borrow the extra amount.
The finance ministry on Friday sought ideas, suggestions and proposals for the annual budget of 2021-22. The Union Budget 2021, which will be the third budget of Modi's 2.0 government and Finance Minister Nirmala Sitharaman, is likely to be presented on February 1.
ITR Filing: The Finance Ministry has notified the extended due date for Income Tax Return (ITR) filing by individual taxpayers for FY 2019-20.
Issuing additional frequently asked questions (FAQs) on the 'scheme for grant of ex-gratia payment of the difference between compound interest and simple interest', it said credit card dues outstanding as on February 29 would be considered for giving relief to the borrowers.
The Delhi Police has arrested a former call centre employee for cheating his ex-colleague on the pretext of getting him a job in the Finance Ministry. The accused Gaurav Dutt hatched a conspiracy to dupe his friend to pay back his loans. In various instalments, he took Rs 1,54,000 from the victim.
India may have crossed the COVID-19 peak in September, TOI quoted the Finance Ministry as saying. The ministry, in its monthly economic outlook report for September, also cautioned that the disease was far from over and urged all stakeholders to push for economic recovery as positivity rate improves.
Days after government announced 2 options for States on the issue of meeting GST compensation, Finance Ministry sources on Monday said the entire shortfall of compensation to the states irrespective of whether it is on account of GST implementation or coronavirus pandemic will be compensated.
The Finance Ministry on Saturday dismissed rumoured reports that the government has banned or restricted hirings saying that there is no restriction or ban on filling up of posts in Government of India.
According to the CBDT, it received some representations which revealed that a few banks are imposing and collecting charges on transactions carried out through UPI. A certain number of transactions were allowed free by these banks beyond which every transaction bears a charge, the CBDT noted.
The finance ministry is working on norms to regulate salary paid to retired central government employees re-appointed on contract and has proposed keeping nomination-based appointments at "bare minimum".
The Ministry of Finance today amended the General Financial Rules 2017 to enable imposition of restrictions on bidders from countries which share a land border with India on grounds of defence of India, or matters that directly or indirectly relate to the national security of the country.
A person was injured as part of the ceiling at Finance Ministry's North Block office collapsed on Wednesday. Finance Ministry office on the second floor of the North Block collapsed in the early hours on Wednesday afternoon.
The government is not considering any proposal to merge the Central Board of Direct Taxes (CBDT) and Central Board of Indirect Taxes and Customs (CBIC), the Union Ministry of Finance clarified today.
More than 42 crore beneficiaries have been extended cash support through Direct Benefit Transfer (DBT) totalling Rs 65,454 crore under the Pradhan Mantri Garib Kalyan Package (PMGKP) till June 19, the Finance Ministry said on Saturday.
Kick-starting the process of LIC disinvestment, the Finance Ministry on Friday invited bids from consulting firms, investment bankers, and financial institutions for advising it on the proposed initial public offer.
The Union Finance Ministry on Friday said that the government will not initiate any new scheme/sub-scheme, whether under delegate power to ministry including SFC proposals or through EFC should be initiated in 2020-21 except proposal announced under PM Gareeb Kalyan Package, Aatma Nirbhar Bharat Abhiyan Package and any other special packages.
Reports had earlier said that the central government is considering a calamity cess on the Goods and Services Tax, similar to flood cess imposed by Kerala in June last year.
The Finance Ministry on Monday released Rs 6,195 crore revenue deficit grant to 14 states to enhance their resources during COVID-19 crisis.
Goods and Services Tax (GST) revenue in March stood at Rs 97,597 crore, lower than over Rs 1.05 lakh crore collected in February. Of the total Rs 97,597 crore revenue, the central GST stood at Rs 19,183 crore, state GST at Rs 25,601 crore and integrated GST at Rs 44,508 crore.
The Finance Ministry on Monday said that contractual employees will be paid even if they are unable to report on duty due to lockdown imposed by authorities.
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