Ministry Of Finance

Ministry Of Finance News

PPF interest rate down by 1.7 % in 10 years; details here
Business

PPF interest rate down by 1.7 % in 10 years; details here

The rate of PPF is revised by the Ministry of Finance on a quarterly basis. From 1 April 2014 to 31 March, 2016 the PPF interest rate was 8.7 percent and 1.5 lakh per year was the investment limit

Exclusive | Manmohan Singh will certainly go down in history as an outstanding Prime Minister: C Rangarajan
India

Exclusive | Manmohan Singh will certainly go down in history as an outstanding Prime Minister: C Rangarajan

Former RBI Governor C Rangarajan, in an interview with Firstpost, talks about his RBI days, his association with former Prime Ministers PV Narasimha Rao and Manmohan Singh, and how India can beat the post-pandemic blues to become a $5 trillion economy

Doorstep banking for elderly people to be available soon: Report
Business

Doorstep banking for elderly people to be available soon: Report

Over 50 million senior citizens above the age of 70 years could expect to get basic banking services at their doorstep soon.

Globalisation of Indian firms: Is it a new dawn?
Business

Globalisation of Indian firms: Is it a new dawn?

Greater clarity is required on certain aspects like ‘strategic sector’, ‘bona fide business activities’, ‘control’, etc. Success lies in the implementation of the rules in an effective and hassle-free manner

GST mop-up in September at Rs 1.47 lakh crore, 26% higher than same month last year
Business

GST mop-up in September at Rs 1.47 lakh crore, 26% higher than same month last year

The GST collections had touched a record Rs 1.67 lakh crore in April, while in August it was over Rs 1.43 lakh crore. With the ongoing festive season, the collections are expected to go up in the coming months, experts said

Worried about unclaimed funds in PPF, NSC, or SCSS? Here's how to track them
Business

Worried about unclaimed funds in PPF, NSC, or SCSS? Here's how to track them

After a predetermined amount of time, the unclaimed money is transferred to different government funds, such as The Senior Citizen’s Welfare Fund

Inflation will have only a negligible impact on poverty in India: Nirmala Sitharaman quotes UNDP report
Business

Inflation will have only a negligible impact on poverty in India: Nirmala Sitharaman quotes UNDP report

She wrote in a tweet that the report shows that inflation will have only a negligible impact on poverty in India, adding that targeted transfers (such as what India has been doing) help poorer households cope with price spikes

PM Modi to speak at first Arun Jaitley memorial lecture on Friday
India

PM Modi to speak at first Arun Jaitley memorial lecture on Friday

The Prime Minister's Office said that the Ministry of Finance has organised the lecture in recognition of Arun Jaitley's invaluable contribution to the nation

Centre clears entire GST compensation dues till date, releases Rs 86,912 crore to states
Business

Centre clears entire GST compensation dues till date, releases Rs 86,912 crore to states

Of this, Rs 25,000 crore is released from the GST compensation fund and the balance Rs 61,912 crore is being released by the Centre from its own resources pending collection of cess

Atal Pension Yojana enrolments cross four crore, says Union Ministry of Finance
Business

Atal Pension Yojana enrolments cross four crore, says Union Ministry of Finance

Atal Pension Yojana is the guaranteed pension scheme of the Government of India administered by the Pension Fund Regulatory and Development Authority (PFRDA)

Nirmala Sitharaman meets CFLI vice chairman Mary Schapiro, shares her vision of developing GIFT City
World

Nirmala Sitharaman meets CFLI vice chairman Mary Schapiro, shares her vision of developing GIFT City

During the meeting, Mary Shapiro discussed the success in India with respect to building robust renewable energy markets and concurred that it is opportune time for India to play a leadership role in shaping global

Number of pension scheme subscribers rise to 5.2 crore
India

Number of pension scheme subscribers rise to 5.2 crore

Under the management of Atal Pension Yojana, the total pension assets stood at Rs 7.36 lakh crore, showing year-on-year growth of 27.43 per cent

Centre has no plan to revamp capital gains tax structure, says Ministry of Finance
Business

Centre has no plan to revamp capital gains tax structure, says Ministry of Finance

In India, long-term capital gains on listed equities held for more than a year is taxed at 10 per cent on the portion of such gain above a threshold of Rs 1 lakh

Central Excise Day 2022: All you need to know about significance, history and celebrations
India

Central Excise Day 2022: All you need to know about significance, history and celebrations

The day also commemorates the anniversary of the enactment of the Central Excise and Salt Act on 24 February, 1944.

Higher capital expenditure will keep economic revival going, says Finance Minister Nirmala Sitharaman
Business

Higher capital expenditure will keep economic revival going, says Finance Minister Nirmala Sitharaman

The central government in the Union Budget on Tuesday announced a sharp increase of 35.4 per cent in the capital expenditure to Rs 7.50 Iakh crore in the financial year 2022-2023, around 2.9 per cent of the GDP

Over three crore income tax returns for FY21-22 filed: Ministry of Finance
Business

Over three crore income tax returns for FY21-22 filed: Ministry of Finance

An official document said, all taxpayers who are yet to file their income tax returns for the assessment year 2021-22 are requested to file their returns at the earliest to avoid the last-minute rush

Centre to introduce new bill on cryptocurrency in Parliament after Cabinet approval, says Nirmala Sitharaman
Business

Centre to introduce new bill on cryptocurrency in Parliament after Cabinet approval, says Nirmala Sitharaman

The finance minister in Rajya Sabha said the government, RBI and Sebi have been cautioning people about cryptocurrencies being a ‘high risk’ area and ‘more can be done’ to create awareness

Centre releases Rs 40,000 crore to states as back-to-back loan for GST shortfall
India

Centre releases Rs 40,000 crore to states as back-to-back loan for GST shortfall

The Centre has frontloaded the release of Rs 1.15 lakh crore till date, 72 percent of the total estimated shortfall for the fiscal year. The balance amount will be released in due course, as per a Ministry of Finance statement

Digital payment solution 'e-RUPI' to launched in India: What it means and how it works
News & Analysis

Digital payment solution 'e-RUPI' to launched in India: What it means and how it works

Banks including SBI, HDFC, Axis, Punjab National Bank, ICICI Bank and more are live with the e-RUPI digital payment solution.

Prime Minister Narendra Modi to launch digital payment solution e-RUPI on Monday
India

Prime Minister Narendra Modi to launch digital payment solution e-RUPI on Monday

In its statement, the Prime Minister's Office said e-RUPI is a cashless and contactless instrument for digital payment