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Finance Ministry

GNPA of PSBs declines to 3.12% in September from peak of 14.58% in March 2018: Finance Ministry

GNPA of PSBs declines to 3.12% in September from peak of 14.58% in March 2018: Finance Ministry

Thu, Dec 12, 2024

Gross non-performing assets (NPAs) of public sector banks (PSBs) have declined to a decade low of 3.12 per cent at the end of September 2024 from a peak of 14.98 per cent in March 2018 on the back of measures like the 4Rs -- recognition, recapitalisation, resolution, and reform -- taken by the government, the finance ministry said on Thursday.

Insurance Amendment Bill proposing 100% FDI unlikely in winter session

Insurance Amendment Bill proposing 100% FDI unlikely in winter session

Sun, Dec 08, 2024

Insurance Amendment Bill, which proposes 100 per cent FDI in the insurance sector, may not be introduced in Parliament in the ongoing session, sources said. Some finetuning may be required in the draft Bill after receiving comments from stakeholders, sources said.

Finance Ministry proposes to raise FDI in insurance to 100%

Finance Ministry proposes to raise FDI in insurance to 100%

Thu, Nov 28, 2024

The finance ministry has proposed to amend various provisions of the Insurance Act, 1938, including raising foreign direct investment (FDI) in insurance sector to 100 per cent, reduction in paid-up capital, and provision for composite licence.

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Finance Ministry sets terms for premature PPF withdrawal

Finance Ministry sets terms for premature PPF withdrawal

Mon, Jun 20, 2016

The Finance Ministry on Monday said subscribers of the Public Provident Fund (PPF) can prematurely close the deposit scheme after completing five years for reasons such as higher education or expenditure towards medical treatment.

Govt imposes 20% export duty on sugar to boost domestic supply

Govt imposes 20% export duty on sugar to boost domestic supply

Fri, Jun 17, 2016

The move comes at a time when prices have surged sharply in various commodities including tomato, wheat and pulses.

Sugar stocks fall after Govt imposes export duty

Sugar stocks fall after Govt imposes export duty

Fri, Jun 17, 2016

Stocks of sugar companies fell over 3% in the Bombay Stock Exchange (BSE) in the morning trade on Friday. The government imposed 20% customs duty on sugar exports to boost domestic supply and check prices which are ruling high at Rs 40/kg.

7th Pay Commission: Committee of secretaries likely to decide on salaries today

7th Pay Commission: Committee of secretaries likely to decide on salaries today

Tue, Jun 14, 2016

The 7th Pay Commission which will give a relief to several central government employees may get green signal on Tuesday, Zee Media Bureau reported.

Arun Jaitley discusses operationalisation of Rs 40,000 crore sovereign wealth fund

Arun Jaitley discusses operationalisation of Rs 40,000 crore sovereign wealth fund

Wed, Jun 08, 2016

Jaitley also launched NIIF website during the second governing council meet of the sovereign wealth fund.

7th Pay Commission: Empowered panel to put final touches on report this weekend

7th Pay Commission: Empowered panel to put final touches on report this weekend

Wed, Jun 08, 2016

The Empowered Committee of Secretaries led by Cabinet Secretary PK Sinha will meet on June 11 to make the final changes to the 7th Pay Commission's recommendations.

Nirmala Sitharam to discuss Apple retail store matter with Finance Ministry

Nirmala Sitharam to discuss Apple retail store matter with Finance Ministry

Tue, Jun 07, 2016

DIPP secretary headed panel had favoured waiving the mandatory local sourcing requirement for the US-based firm.

Apple sales in India crossed $1 billion last year but Jaitley isn’t impressed

Apple sales in India crossed $1 billion last year but Jaitley isn’t impressed

Sat, Jun 04, 2016

Hurdles continue to plague Apple's strategy for India, even Cook’s visit to India has done very little to help the company.

7th Pay Commission: This simple calculator helps you find out your new salary

7th Pay Commission: This simple calculator helps you find out your new salary

Sat, Jun 04, 2016

The new increased pay scale is expected to be implemented as soon as next month

Govt wants you to sell your old car and this may not be that good a news

Govt wants you to sell your old car and this may not be that good a news

Wed, Jun 01, 2016

The Government is likely to give up to 8-12% of the total new vehicle cost as financial incentives.

7th Pay Commission: Why govt employees will have something to cheer about on June 11

7th Pay Commission: Why govt employees will have something to cheer about on June 11

Tue, May 31, 2016

The implementation of the 7th Pay Commission will boost the pay of lacks of government employees who have been kept waiting.

Govt, RBI trying to resolve payment issue with Venezuela: Commerce Secretary

Govt, RBI trying to resolve payment issue with Venezuela: Commerce Secretary

Mon, May 30, 2016

Indonesia is very keen to procure the non-basmati rice from India because that is what they do consume and prices are also competitive.

Extend tax holiday for startups to 7 years: Nirmala Sitharaman tells Finance Ministry

Extend tax holiday for startups to 7 years: Nirmala Sitharaman tells Finance Ministry

Mon, May 30, 2016

Sitharaman said lots of inputs from startups have been received and "recommendations have gone to the Finance Ministry for extending the 3-year tax holiday to 7 years".

Trading in Sovereign Gold Bond Scheme to start by May-end: Finance Ministry

Trading in Sovereign Gold Bond Scheme to start by May-end: Finance Ministry

Tue, May 17, 2016

Finance Ministry took the decision at a review meeting of gold-related schemes held on May 13 under the chairmanship of Economic Affairs Secretary Shaktikanta Das.

Govt unearths indirect tax evasion of Rs 50,000 crore in 2 years

Govt unearths indirect tax evasion of Rs 50,000 crore in 2 years

Tue, May 10, 2016

A Special Investigation Team has been constituted, chaired by former Supreme Court Judge M B Shah.

India inflation probably nudged up to 5% in April: Reuters poll

India inflation probably nudged up to 5% in April: Reuters poll

Tue, May 10, 2016

"The central bank has to be confident of hitting the 5 percent target next year before deciding on easing further," said Rishi Shah, economist at Deloitte.

Finance Ministry lowers taxes for corporates, small businesses to boost growth, employment

Finance Ministry lowers taxes for corporates, small businesses to boost growth, employment

Mon, May 09, 2016

The steps that will be taken include lowering of corporate tax to 25% for new manufacturing companies, extending tax benefits to housing sector and reducing technical service fees among others.

Income Tax Department refunded Rs 1.22 lakh crore last year

Income Tax Department refunded Rs 1.22 lakh crore last year

Fri, May 06, 2016

The Income Tax department has issued 2.10 crore refunds totalling over Rs 1.22 lakh crore in 2015-16, which saw 94 per cent the returns being filed online.

Save on tax next year by investing in these schemes today

Save on tax next year by investing in these schemes today

Tue, May 03, 2016

Managing finance and investments has become much more complex today than it ever was. Inflation has made it difficult to fulfil even the basic minimum needs such as buying a flat or children’s education.

Finance Ministry agrees to give 8.8% interest on EPF: Bandaru Dattatreya

Finance Ministry agrees to give 8.8% interest on EPF: Bandaru Dattatreya

Fri, Apr 29, 2016

After the nationwide protest by trade unions against lowering of EPF interest rate, Labour Minister Bandaru Dattatreya on Friday said that Finance Ministry has agreed to give 8.8% interest on Employee Provident Fund (EPF).

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