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Finance Ministry initiates budget-making exercise for FY22
The circular scheduled pre-budget discussions with the various ministries and departments starting from October 16 till the first week of November, under the special circumstances of the pandemic.
Finance Ministry to kick-start budgetary exercise from October 16
The budget will have to address critical issues pertaining to growth contra...
Taxpayers will have to report only transactions pertaining to FY19 in annual GST return: Finance ministry
Furnishing of the annual return is ...
Assessing impact of pandemic on economy, says FM Nirmala Sitharaman
The Reserve Bank of India has projected the Indian economy to contract 9.5 per cent in the current fiscal, while the International Monetary Fund (IMF) and World Bank estimates the contraction at 10.3 per cent and 9.6 percent, respectively.
Govt open to further stimulus to lift economy, says DEA Secretary
The government has received suggestions from various ministries and sectors on needed measures, Tarun Bajaj, economic affairs secretary at the ministry of finance, told a virtual conference.
Banks not willing to lend to small businesses: KVIC to approach finance ministry
The KVIC has received several complaints about banks not agreeing to lend even to businesses with confirmed government orders.
View: With no real recovery, GoI needs to know why its splurges have been ineffective
Sitharaman’s package this time is smaller than the May package. But that is not because of a fresh sense of responsibility or caution. She knows that she is getting close to the next budget. So, she will not have to wait too long to fling around more money.
Finance ministry defends retrospective amendment of 2012
Finance ministry officials strongly defended the controversial 2012 amendment that brought overseas indirect transfers retrospectively into the tax net.
Government to give cash vouchers to staff in lieu of LTC this year: Finance Minister
Finance Minister Nirmala Sitharaman said the employees could buy items that attract 12 per cent or more goods and services tax (GST). These purchases will have to be made in digital mode from GST-registered outlets.
Finance Ministry drafts re-appointment of retired central govt employees rules
When appointed by nomination, the contractual salary should be the person’s last drawn salary at the point of retirement minus the basic pension, it said. Further, the draft guidelines cap re-appointment to not beyond five years after the age of superannuation of 60 years.
India may be past COVID peak, but virus risks remain: Finance Ministry
India may have crossed the Covid-19 peak and the declining positivity rate will help fuel an economic recovery, the finance ministry said, while adding that it was 'not averse to taking any further measures to ameliorate suffering of people'.
Seek prior approval before re-appropriating funds provided for travel, other expenses: FinMin
The Department of Expenditure under the ministry has issued an office memorandum with regard to re-appropriation of funds which are likely to remain unutilised on account of restrictions imposed by the government in view of the COVID-19 pandemic.
Reforms undertaken to contain COVID-19 impact to ensure long-term sustained growth: FinMin report
The report said data for the 14-day period from September 17 to 30 suggests that India may have crossed the peak of COVID-19 caseload.
IT Ministry seeks Cabinet approval for policy on artifical intelligence-based programmes
Niti Aayog CEO Amitabh Kant said that India is organising a conference on AI, RAISE 2020, which will be inaugurated by Prime Minister Narendra Modi on Monday evening. National e-Governance Division (NeGD) and MyGov CEO Abhishek Singh said that the Meity will soon approach the Cabinet for a policy to launch AI-based programmes.
I have an open mind about stimulus: Finance Minister Nirmala Sitharaman
Finance Minister Nirmala Sitharaman says the government is looking at various ways to provide support to the economy.
