Finance Ministry

Income Tax Return Scrutiny Reduced To 0.25% In Assessment Year 2018-19: Finance Ministry

Business | Press Trust of India | Wednesday August 5, 2020

ITR picked up for scrutiny has reduced to 0.25 per cent of the total ITRs filed in assessment year (AY) 2018-19, from 0.55 per cent in AY 2017-18.

Government Considering Amnesty For Those With Unaccounted Gold: Report

India News | Siddhartha Singh, Bloomberg | Friday July 31, 2020

The Finance Ministry is considering an amnesty program for residents with illicit stash of gold, as part of an effort to crack down on tax evasion and cut its dependence on imports, according to people with knowledge of the matter.

Finance Minister Asks State-Owned Companies To Push Capital Expenditure

Business | Edited by Abhik Deb (with inputs from agencies) | Thursday July 23, 2020

The combined capital expenditure for the seven CPSEs which attended Thursday's meeting stands at Rs 24,663 crore for the current fiscal year

Stimulus Package Has Made Big Difference To Companies, Amid Lockdown: Nirmala Sitharaman

Business | Asian News International | Wednesday July 22, 2020

Nirmala Sitharaman said that Finance Ministry and Reserve Bank of India were working together and 3.9 per cent of GDP has been infused as liquidity in the Indian economy.

Russia, Hit By Coronavirus Crisis, Considers Military Spending Cuts

World News | Reuters | Tuesday July 21, 2020

Russia is considering cutting spending on the military as low oil prices and the coronavirus crisis have pummelled its economy, a document published by the finance ministry shows.

Over Rs 71,220-Crore Income, Corporate Tax Refunds Issued Amid COVID-19 Crisis

Business | Edited by Sandeep Singh | Saturday July 18, 2020

Income Tax Refund: All refund-related cleaning up of tax demands is being taken up on priority and is likely to be completed by August 31, the Finance Ministry said.

Government Decides To Not Proceed With Proposal To Amend Disability Law

India News | Press Trust of India | Thursday July 9, 2020

The Department of Empowerment of Persons with Disabilities on Thursday said it has decided to not proceed with a proposal to amend the Rights of Persons with Disabilities Act 2016 to decriminalise minor offences.

Government, World Bank Sign $750 Million Agreement To Provide Liquidity To MSMEs

Business | Edited by Abhik Deb | Monday July 6, 2020

The agreement will support the government in providing guarantees to incentivise banks and NBFCs to continue lending to MSMEs

Finance Ministry Denies Reports Of Merging Direct And Indirect Tax Bodies

Business | Edited by Abhik Deb | Monday July 6, 2020

Finance Ministry said that the merger was earlier recommended by the Tax Administrative Reforms Commission but was not accepted

Early Green Shoots Of Economic Revival In May, June, Says Government Amid COVID-19 Crisis

Business | Reported by Sunil Prabhu, Edited by Sandeep Singh | Monday July 6, 2020

India's gross domestic product (GDP) has been predicted to contract 4.5 per cent in 2020, the finance ministry said on Monday quoting International Monetary Fund (IMF) data. However, early green shoots of economic revival emerged in May and June, and the government's commitment towards structural reforms and supportive social welfare measures will ...

CBI Seeks Sanction To Prosecute Ex-Probe Agency Officer In Bribery Case

India News | Written by Arvind Gunasekar | Sunday July 5, 2020

The Central Bureau of Investigation or CBI has sought sanction from the Finance Ministry to prosecute former Enforcement Directorate (ED) Joint Director JP Singh, who has been accused of receiving bribes in the IPL betting case and hawala operators.

Rs 62,361 Crore Refunds Issued To Over 20 Lakh Taxpayers Amid COVID-19 Pandemic: Finance Ministry

Business | Edited by Abhik Deb | Friday July 3, 2020

Income tax refunds amounting to Rs 23,453.57 crore have been issued in 19,07,853 cases to taxpayers

Delhi Overwhelmed By COVID-19 Cases After City Eases Lockdown

India News | Muneeza Naqvi, Bloomberg | Wednesday June 10, 2020

Delhi, a city of 16 million people, is set to be the latest city overwhelmed by Covid-19, and the worst may be yet to come. The Defence Ministry has closed its doors, its top bureaucrat is in quarantine, while a senior Finance Ministry official and the government's top spokesman have the coronavirus. Authorities have requisitioned more hotels and c...

Rs 17,705 Crore Sanctioned To MSMEs Under Emergency Credit Line Guarantee Scheme: Finance Ministry

Business | Edited by Abhik Deb (with inputs from agencies) | Sunday June 7, 2020

The government last month announced collateral-free loans worth Rs 3 lakh crore for MSMEs with turnover up to Rs 100 crore

No New Government Schemes For A Year. Centre Cuts Back Amid COVID Crisis

India News | NDTV Newsdesk | Friday June 5, 2020

No new government schemes will start for a year, the Finance Ministry said today, in a move to tighten spending amid rising coronavirus cases.