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Ministry of Finance

EPFO investment corpus doubles to Rs 24.75 lakh crore in 5 years

EPFO investment corpus doubles to Rs 24.75 lakh crore in 5 years

Wed, Dec 04, 2024

The total amount in the investment corpus of the Employees' Provident Fund Organisation (EPFO) more than doubled in the past five years to Rs 24.75 lakh crore in the financial year 2023-2024 from Rs 11.1 lakh crore 2019-20, according to official figures.

India signs $98 million loan agreement with Asian Development Bank to boost horticulture productivity

India signs $98 million loan agreement with Asian Development Bank to boost horticulture productivity

Sat, Nov 30, 2024

As per the ministry the project aims to establish clean plant centres equipped with state-of-the-art laboratories for disease diagnostics and staffed by trained experts.

DIPAM issues revised capital restructuring norms for CPSEs

DIPAM issues revised capital restructuring norms for CPSEs

Tue, Nov 19, 2024

Any listed CPSE, whose market price exceeds 150 times its face value consistently for the last six months, may consider splitting off its shares.

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Centre to finance 65% of Chennai Metro Phase 2 project: Finance Ministry

Centre to finance 65% of Chennai Metro Phase 2 project: Finance Ministry

Sat, Oct 05, 2024

This will include the entire required loan of Rs 33,593 crore, besides the equity and subordinate debt of Rs 7,425 crore.

Central govt allocates Rs 3.66 lakh crore to states between April -July 24, Rs 57,109 crore more than last year

Central govt allocates Rs 3.66 lakh crore to states between April -July 24, Rs 57,109 crore more than last year

Sat, Aug 31, 2024

According to the ministry this is an increase of Rs 57,109 crore compared to the same period in the previous fiscal year. It reflects the fiscal federalism by the government.

SSY, PPF, NSS: These small savings schemes to have new rules from October 1; will it benefit you? Check details

SSY, PPF, NSS: These small savings schemes to have new rules from October 1; will it benefit you? Check details

Thu, Aug 29, 2024

The Department of Economic Affairs has issued new regulations that apply to investors in the National Savings Scheme (NSS), Public Provident Fund (PPF), and Sukanya Samriddhi Account (SSA).

Finmin asks insurers to speedily disburse claim amount to victims of Wayanad landslide

Finmin asks insurers to speedily disburse claim amount to victims of Wayanad landslide

Sat, Aug 03, 2024

The insurance companies have initiated efforts for reaching out to their policyholders through various channels (local newspapers, social media, company websites, sms, etc) to provide the contact details for assistance in the districts of Wayanad, Palakkad, Kozhikode, Malappuram, and Thrissur, where a significant number of claims are being reported, the finance ministry said in a post on X.

Union Budget 2024: Finance Minister Nirmala Sitharaman reaches Ministry ahead of Union Budget presentation

Union Budget 2024: Finance Minister Nirmala Sitharaman reaches Ministry ahead of Union Budget presentation

Tue, Jul 23, 2024

Minister of State for Finance Pankaj Chaudhary and Chief Economic Advisor V Anantha Nageswaran reached the Ministry earlier.

International Road Federation wants no GST on helmets to make it more affordable

International Road Federation wants no GST on helmets to make it more affordable

Wed, Jun 12, 2024

To make the helmets more affordable and enhance road safety, International Road Federation demands no GST on helmets.

Public sector banks asked to reassess gold loan process amid debt risk concerns

Public sector banks asked to reassess gold loan process amid debt risk concerns

Wed, Mar 13, 2024

The Department of Financial Services (DFS), a division of the Finance Ministry has instructed all state-run banks last month to scrutinize their gold loan accounts granted after January 1, 2022.

Government cuts import duty on mobile phone components to 10%

Government cuts import duty on mobile phone components to 10%

Wed, Jan 31, 2024

The finance ministry on January 30, notified the cut in duty on imports of components including screw, SIM socket, or other mechanical items of metal for cellular mobile phone.

Price pressure in food items to be transitory; global uncertainty, domestic disruption to keep inflation elevated: Finance Ministry

Price pressure in food items to be transitory; global uncertainty, domestic disruption to keep inflation elevated: Finance Ministry

Tue, Aug 22, 2023

In its Monthly Economic Review for July, the ministry said going forward, while domestic consumption and investment demand are expected to continue driving growth, enhanced provision for capital expenditure by the government in the current fiscal is now leading to crowding in of private investment.

Govt has no plans of returning to the Old Pension Scheme: Finance Ministry sources

Govt has no plans of returning to the Old Pension Scheme: Finance Ministry sources

Fri, Mar 24, 2023

Several states like Rajasthan, Chhattisgarh, Jharkhand, Punjab, and Himachal Pradesh have already rolled out the Old Pension Scheme and discontinued the National Pension System (NPS).

Aadhaar-PAN linking: Congress Lok Sabha leader Adhir Ranjan writes to PM to extend deadline by six months

Aadhaar-PAN linking: Congress Lok Sabha leader Adhir Ranjan writes to PM to extend deadline by six months

Tue, Mar 21, 2023

Adhir Ranjan Chowdhury also urges the Centre to empower all local and sub post offices to help people get their PAN card linked with their Aadhaar card free of cost

G20 Summit 2023: India undeniably a global powerhouse, says South Korea

G20 Summit 2023: India undeniably a global powerhouse, says South Korea

Mon, Jan 30, 2023

In the G20 International Financial Architecture Working Group meeting which began on Monday, participants will discuss ways to enhance the stability and cohesion of the global financial architecture and how to make it fit to address the global challenges of the 21st century.

Ministry Of Finance Is Preparing To Increase The Scope Of Exemption In HRA

Ministry Of Finance Is Preparing To Increase The Scope Of Exemption In HRA

Mon, Jan 09, 2023

Ministry of Finance is preparing to increase the scope of exemption in HRA. The discount available to the people of metro cities is also possible for other cities. Know the full news from Tarun Sharma.

December GST revenue collections up 15% YoY to Rs 1,49,507

December GST revenue collections up 15% YoY to Rs 1,49,507

Sun, Jan 01, 2023

Government has collected gross Goods and Services Tax (GST) of Rs 1,49,507 crore during December 2022, a government release said. Out of this, CGST stood at Rs 26,711 crore, SGST at Rs 33,357 crore while IGST at Rs 78,434 crore (including Rs 40,263 crore collected on import of goods)

Decision to provide CSR fund to govt relief funds taken by UPA in 2013: FM Nirmala Sitharaman

Decision to provide CSR fund to govt relief funds taken by UPA in 2013: FM Nirmala Sitharaman

Wed, Dec 14, 2022

Sitharaman was responding to a supplementary query of (CPI-M) member V Sivadasan during the question hour that why CSR funds cannot be given to chief ministers' relief funds of state governments.

Not waived off loans to big companies, FM Nirmala Sitharaman tells Parliament

Not waived off loans to big companies, FM Nirmala Sitharaman tells Parliament

Tue, Dec 13, 2022

"We have not written off to anyone. It is wrong to say that by way of writing off we are taking that amount as our loss," she said.

GST claims of states to be cleared moment AG certificate is received: FM Nirmala Sitharaman

GST claims of states to be cleared moment AG certificate is received: FM Nirmala Sitharaman

Mon, Dec 12, 2022

The respective accountant general (AG) has to provide a certificate that the particular state has to get this much of compensation, the finance minister said.

Government seeks private sector chief to lead state insurer LIC, sources say; stock sees sudden spike

Government seeks private sector chief to lead state insurer LIC, sources say; stock sees sudden spike

Thu, Dec 08, 2022

A private sector appointee to lead India's largest insurer, which manages 41 trillion rupees ($500.69 billion) in assets, would be a first in its 66-year history.

IDBI Bank to continue primary dealer business even if foreign bank acquires majority stake: Finance Ministry

IDBI Bank to continue primary dealer business even if foreign bank acquires majority stake: Finance Ministry

Tue, Dec 06, 2022

As part of the primary dealer activity, IDBI Bank is involved in market making activities in respect of G-Secs, including T-bills. IDBI's treasury actively participates in primary auction of government bonds.

Sanjay Malhotra takes charge as Revenue Secretary

Sanjay Malhotra takes charge as Revenue Secretary

Thu, Dec 01, 2022

Sanjay Malhotra replaced Tarun Bajaj, who superannuated on November 30.

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