Finance Ministry

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With China being hit by coronavirus, India should look at positioning itself as alternative supply source: FICCI
Business

With China being hit by coronavirus, India should look at positioning itself as alternative supply source: FICCI

With China being hit by coronavirus, India should look at positioning itself as alternative supply source: FICCI

Telecom sector under stress for three-and-a-half years; govt needs to focus on industry's sustainability: Sunil Mittal
Business

Telecom sector under stress for three-and-a-half years; govt needs to focus on industry's sustainability: Sunil Mittal

The telecom industry, he said, is vital to the nation and the digital agenda of the government.

Economic growth set to bounce back as slump bottoms out; govt takes steps to boost investment: Official
Business

Economic growth set to bounce back as slump bottoms out; govt takes steps to boost investment: Official

Sanyal said economic growth was set to accelerate to 6 percent in the financial year beginning in April, compared with an estimated growth of 5.0 percent in the current one

Govt all set to print new Re 1 notes soon, specifications announced; here is all you need to know about currency
Business

Govt all set to print new Re 1 notes soon, specifications announced; here is all you need to know about currency

The Re 1 notes shall be printed at the note printing presses for issue under the authority of Government of India for circulation, the notification said.

Finance ministry expects at least 80% of taxpayers to move to new tax regime, says revenue secretary
Business

Finance ministry expects at least 80% of taxpayers to move to new tax regime, says revenue secretary

The finance ministry expects at least 80 percent of the taxpayers to move to the new income tax regime, Revenue Secretary Ajay Bhushan Pandey said on Friday

Finance Ministry to assuage concerns of rating agencies; economy remains robust: Economic Affairs Secretary Atanu Chakraborty
Business

Finance Ministry to assuage concerns of rating agencies; economy remains robust: Economic Affairs Secretary Atanu Chakraborty

The finance ministry has said it will try to assuage concerns of rating agencies on opting for higher deficit and other Budget numbers while stressing that fundamentals of the economy are strong

Budget 2020: Commodity participants body urges govt to address high cost of trading in Indian markets
Business

Budget 2020: Commodity participants body urges govt to address high cost of trading in Indian markets

The Commodity Participants Association of India (CPAI) has urged the government to address high cost of trading in the Indian markets, which is leading to drastic drop in volume and liquidity

Finance Ministry invites applications for new SEBI chief; Ajay Tyagi's three-year term comes to end next month
Business

Finance Ministry invites applications for new SEBI chief; Ajay Tyagi's three-year term comes to end next month

The Finance Ministry has invited applications for the next chairman of Securities and Exchange Board of India (SEBI) to succeed Ajay Tyagi, whose three-year term comes to an end next month

Budget 2020: Govt likely to fund some $28 bn of FY21 expenditure via off-budget borrowings; move aims to keep fiscal deficit under check
Business

Budget 2020: Govt likely to fund some $28 bn of FY21 expenditure via off-budget borrowings; move aims to keep fiscal deficit under check

Finance Minister Nirmala Sitharaman, who will deliver the budget speech, is widely expected to announce stimulus measures for small businesses and non-banking finance companies.

Finance Ministry to showcase achievements of financial inclusion at Republic Day parade
Business

Finance Ministry to showcase achievements of financial inclusion at Republic Day parade

The Finance Ministry will showcase achievements of the financial inclusion drive through a tableau during the Republic Day parade on 26 January

Budget 2020: FinMin likely to push for Rs 25,000-Rs 30,000 cr interim dividend from RBI; to help fiscal deficit slippages
Business

Budget 2020: FinMin likely to push for Rs 25,000-Rs 30,000 cr interim dividend from RBI; to help fiscal deficit slippages

In the past RBI has paid a total Rs 38,000 crore as an interim dividend (Rs 28,000 crore in FY19 and Rs 10,000 crore in FY18)

Govt plans new law to protect foreign investment; draft proposal aims at diffusing investor mistrust on agreements
Business

Govt plans new law to protect foreign investment; draft proposal aims at diffusing investor mistrust on agreements

Investors previously had an option to take India to international arbitration courts under bilateral investment treaties (BITs) the government had agreed with dozens of nations.

Govt extends last date for Sabka Vishwas scheme till 15 January for settling disputes of service tax, central excise
Business

Govt extends last date for Sabka Vishwas scheme till 15 January for settling disputes of service tax, central excise

The Finance Ministry on Tuesday extended the 'Sabka Vishwas Scheme', a dispute resolution-cum-amnesty scheme for settling pending disputes of service tax and central excise, by 15 days till 15 January

Small savings schemes: Govt keeps interest rates unchanged for January-March quarter
Business

Small savings schemes: Govt keeps interest rates unchanged for January-March quarter

The government on Tuesday kept the interest rates on small savings schemes, including NSC and PPF, unchanged for the fourth quarter of 2019-20 despite moderating bank deposit rates

Govt sets Rs 1.1 lakh cr monthly GST collection target, asks taxmen to buckle up
Business

Govt sets Rs 1.1 lakh cr monthly GST collection target, asks taxmen to buckle up

Amid concerns that the government may fall short of tax collection target in a slowing economy, the Centre has set an ambitious Rs 1.1 lakh crore monthly GST target for the remaining four months of the current fiscal and asked taxmen to step up efforts to achieve the goal

GST Council to meet today as revenue shortfall looms large; FM seeks suggestions for raising rates, cess
Business

GST Council to meet today as revenue shortfall looms large; FM seeks suggestions for raising rates, cess

The GST Council will meet on Wednesday to review the taxation structure for shoring up the revenue as lower-than-expected collections has led to a delay in compensation payment to states

NCLAT directs Enforcement Directorate to file final affidavit in Bhushan Power & Steel assets attachment matter
Business

NCLAT directs Enforcement Directorate to file final affidavit in Bhushan Power & Steel assets attachment matter

Earlier, on 25 October, the NCLAT had asked both organisations, which are presently headed by Sitharaman, to settle the matter adding that there was no question of amendment of laws.

Sharad Pawar writes to Narendra Modi over Maharashtra farm crisis: NCP chief demands 'unconditional' loan waiver
India

Sharad Pawar writes to Narendra Modi over Maharashtra farm crisis: NCP chief demands 'unconditional' loan waiver

Nationalist Congress Party chief Sharad Pawar, who is currently locked in a stalemate with the Shiv Sena and Congress over government formation in Maharashtra, on Wednesday met with Prime Minister Narendra Modi to discuss the issue of farmers in Maharashtra.

Vodafone Idea presses for Rs 7,000 cr tax refund; Income Tax Department hesitant in view of fresh liability
Business

Vodafone Idea presses for Rs 7,000 cr tax refund; Income Tax Department hesitant in view of fresh liability

Sources said Vodafone has to receive an aggregate of about Rs 1,000 crore from Mumbai unit of the Income Tax department and another Rs 6,000 crore from its Delhi office for multiple assessment years dating back to 2004-05

Govt considering to reintroduce restrictions on royalty payments for technology transfer
Business

Govt considering to reintroduce restrictions on royalty payments for technology transfer

Royalty is paid to a foreign collaborator for the transfer of technology, usage of brand or trademarks.