Finance Ministry

Finance Ministry Allows Three Last Dates For Filing GSTR-3B Returns

Business | Press Trust of India | Wednesday January 22, 2020

In past, glitches in the return filing system of GST Network were reported on the last day of filing of returns and trade and industry had to face problems.

Finance Ministry May Push For Rs 30,000 Crore Interim Dividend From RBI: Report

Business | Indo-Asian News Service | Tuesday January 21, 2020

In the past RBI has paid a total Rs 38,000 crore as interim dividend (Rs 28,000 crore in FY19 and Rs 10,000 crore in FY18).

What Economists Want From Finance Minister To Kickstart Consumption

Business | Written by Peter Noronha | Tuesday January 21, 2020

Mr Abheek Barua, Chief Economist, HDFC Bank, said in a report that the upcoming budget is unlikely to mark a departure from past budgets. There may not be any major fiscal stimulus to ramp up growth as the finance ministry itself has capped government spending in Q4 FY20. And there may only be minor tweeking of tax slabs as a cut in income tax is u...

Important Facts To Know About Past Union Budgets

Business | Edited by Abhishek | Thursday January 23, 2020

Union Finance Minister Nirmala Sitharaman will present Budget for financial year 2020-21 on February 1, 2020. The official preparation of Budget started on Monday with customary Halwa ceremony. Officials of the Finance Ministry, who are involved in the preparation of Budget documents move to the basement of North Block and remain cut off from their...

Ex-Finance Ministry Official Questions Fiscal Deficit Numbers

Business | Vrishti Beniwal, Bloomberg | Thursday January 16, 2020

Subhash Chandra Garg, a former finance ministry official who worked on the current fiscal year's budget targets, sees the real shortfall -- which includes on- and off-budget borrowings -- widening to at least 4.5 per cent against 3.55 per cent estimated previously.

Government To Make Single Regulator For Pension Products: Report

Business | Indo-Asian News Service | Monday January 13, 2020

The proposals were submitted by the Pension Fund Regulatory Authority of India to the finance ministry in December.

Ajit Pawar To Get Finance, Ashok Chavan Public Works In Maharashtra: Sources

India News | Reported by Purva Chitnis, Edited by Anindita Sanyal | Thursday January 2, 2020

Ajit Pawar, the Nationalist Congress Party rebel who returned to be Maharashtra's Deputy Chief Minister, is likely to get the coveted finance ministry, sources told NDTV. Discussions are on over the other prime portfolio - home, for which NCP's Nawab Malik is a contender.

Allahabad Bank, UCO Bank, Indian Overseas Bank Get Rs 8,655 Crore Fund Infusion

Business | Friday December 27, 2019

"We wish to inform that the Bank has received via letter on December 26 a sanction from Government of India for release of Rs 4,360 crore towards contribution of the Central Government in the preferential allotment of equity shares (Special Securities/Bonds) of the Bank during the financial year 2019-20 as Government's investment," Indian Overseas ...

PPF, Other Small Savings Schemes Offer Up To 8.6% Return In March Quarter. Compare Interest Rates

Business | Edited by Sandeep Singh | Wednesday January 1, 2020

These investment schemes - including the 15-Year Public Provident Fund account and the Senior Citizen Savings Scheme - offer interest rates to the tune of 4-8.6 per cent in the quarter ending March 31, according to a finance ministry statement. Opening of a post office account in any of these schemes requires minimum investment in the range of Rs 2...

RBI Suggests Finance Ministry To Align Small Savings Rate: Report

Business | Indo-Asian News Service | Friday December 27, 2019

Small savings rates are revised every quarter and if there is no change in the rates, the finance ministry retains the existing rates.

Finance Ministry Notifies GST Grievance Redressal Panel For Tax Payers

Business | Indo-Asian News Service | Wednesday December 25, 2019

The Committee will examine and resolve all issues being faced by the taxpayers, including procedural difficulties and IT-related issues pertaining to GST.

Centre Refuses To Share Swiss Bank Account Details Of Indians: Report

India News | Press Trust of India | Monday December 23, 2019

The Finance Ministry has declined to share Swiss bank account details of Indians saying it is covered under "confidentiality provisions" of a tax treaty signed between India and Switzerland.

No Need To Mention Religion For Bank A/C, KYC: Finance Secretary

Business | Indo-Asian News Service | Sunday December 22, 2019

Banking and Finance Secretary Rajiv Kumar, in a tweet, said: "No Indian citizen has to disclose his/her religion for opening a bank account, for old account or for KYC formalities." He has asked bank customers not to believe in such rumours and fake news.

Indians Don't Need To Declare Religion For Bank Account: Finance Ministry

India News | ANI | Sunday December 22, 2019

The Central government on Saturday dispelled rumours claiming that Indian citizens will need to disclose their religion in their bank's ''Know Your Customer'' (KYC) forms.

Government Sets Monthly GST Collection Target Of Rs 1.1 Lakh Crore; Asks Taxmen To Buckle Up

Business | Press Trust of India | Tuesday December 17, 2019

In the meeting, the GST target was set at Rs 1.10 lakh crore every month between December 2019 and March 2020. Of these four months, Rs 1.25 lakh collections have to be achieved in at least one month, the sources said. Gross GST collections, which include the share of both Centre and the states, crossed Rs 1 lakh crore mark in four out of the ei...