Ministry of Finance: News
3-day bank strike deferred, branches to open as usual today
The proposed three-day nationwide bank strike from September 28 to 30 has been deferred.
LIC MD Dinesh Pant retires prematurely after 15 months
The central government has approved the premature retirement of Dinesh Pant as the Managing Director of Life Insurance Corporation of India (LIC).
Banks to remain open Sunday ahead of 3-day nationwide strike
In a bid to minimize disruption in banking services, the Indian government has announced that all public sector banks and Regional Rural Banks will remain open on Sunday.
Banks to remain open on Sunday ahead of proposed strike
In a bid to minimize disruption to banking services, all public sector banks and regional rural banks will remain open on Sunday (September 27).
UPI MDR proposal: 5% of collections to help small merchants
The National Payments Corporation of India (NPCI) has proposed a dedicated fund, financed from Merchant Discount Rate (MDR) collections, to support small merchants and expand digital payment infrastructure in smaller cities.
India plans $1.2B incentive scheme to boost local machinery production
India is on the verge of approving a $1.2-billion incentive scheme to promote domestic production of high-value, technologically advanced construction and infrastructure equipment, according to Reuters.
Project Insight-2.0 debuts on January 27: How it helps taxpayers?
The Finance Ministry is gearing up to launch Project Insight 2.0, on January 27, 2028.
India tightens tax treaty with Sri Lanka
India has amended its tax treaty with Sri Lanka, tightening loopholes in double taxation avoidance and preventing revenue leakage through treaty abuse.
New rules for origin of goods under India-UK pact notified
The Ministry of Finance has announced new rules to determine the origin of goods under the India-UK Comprehensive Economic and Trade Agreement (CETA). The rules will come into effect from July 15.
India Semiconductor Mission 2.0 secures funding worth ₹1.25 lakh crore
The Expenditure Finance Committee (EFC) has approved an allocation of ₹1.25 lakh crore for the second phase of the India Semiconductor Mission (ISM 2.0).
Garden Reach Shipbuilders is now a 'Navratna' company
Garden Reach Shipbuilders and Engineers (GRSE), a leading defense public sector company, has been awarded the prestigious 'Navratna' status by the Department of Public Enterprises under the Ministry of Finance.
Centre waives customs duties on nuclear power equipment imports
The Indian government has announced a retrospective waiver of customs duties on certain nuclear power generation equipment imported between April 1, 2019 and January 31, 2026.
How to trace forgotten mutual funds using new government portal
The Ministry of Finance has launched a new awareness initiative called "Your Money, Your Right" to help citizens trace their forgotten or unclaimed financial assets.
Finance Ministry warns of inflation risks from rising energy prices
India's economy is showing "cautious resilience" amid global uncertainties, but rising energy prices and a potentially weak monsoon could pose inflation risks.
Steel Ministry seeks removal of anti-dumping duty on met coke
India's Ministry of Steel has requested the Finance Ministry to remove anti-dumping duties on low-ash metallurgical coke imports.
India allows 100% FDI in insurance sector
The Indian government has announced a major change in the foreign direct investment (FDI) policy for the insurance sector.
India tightens FDI rules for Pakistan, other land-border countries
India has tightened its foreign direct investment (FDI) norms for countries sharing a land border, with specific provisions for Pakistan.
Finance Ministry calls for faster case resolutions in DRTs
The Finance Ministry has called for quicker case resolutions in Debt Recovery Tribunals (DRTs).
Axis Bank opens its 1st digital locker-focused branch
Axis Bank has launched its first-ever digital locker-focused branch in New Delhi.
India's GST revenue hits an all-time high of ₹2.43 trillion
India has registered a record ₹2.43 trillion in Goods and Services Tax (GST) revenue for April 2026, according to data released by the Finance Ministry.
SC orders probe into contracts awarded to Arunachal CM's relatives
The Supreme Court has ordered a Central Bureau of Investigation (CBI) preliminary inquiry into the alleged irregular allotment of public contracts by the Arunachal Pradesh government to companies owned by relatives of Chief Minister Pema Khandu.
India's growth shows early signs of moderation amid US-Iran war
India's economic momentum remained strong until early 2026, but the Finance Ministry's March Monthly Economic Review has flagged emerging signs of moderation.
Centre imposes ATF levy amid fuel tax shake-up
In a major overhaul of fuel taxation, the Finance Ministry has introduced a new levy on aviation turbine fuel (ATF).
Government amends minimum public offer requirements for IPOs
The Indian government has amended the rules for minimum public offer (MPO) requirements for companies looking to list on stock exchanges.
Can you open multiple PPF accounts? Know the rules
The Public Provident Fund (PPF) is a long-term investment scheme backed by the Indian government.
Finance Minister meets President ahead of Budget session
Finance Minister Nirmala Sitharaman met President Droupadi Murmu today, in a customary pre-Budget presentation meeting.
Budget 2026: Key details you need to know
The Union Budget for 2026-27 will be presented by Finance Minister Nirmala Sitharaman on February 1.
Budget 2026: Could married couples get some tax relief?
Ahead of the Union Budget, married taxpayers in India could get some relief.
India to lift ban on Chinese firms bidding for contracts
India is all set to lift a five-year-old set of restrictions on Chinese companies bidding for government contracts. The move is part of New Delhi's efforts to revive commercial ties.
India's fiscal health: Revenue collection, state transfers rise in 2025
The Ministry of Finance has released the fiscal data for the current financial year (FY) till October 2025.
Centre orders investigation as Wintrack accuses Chennai customs of bribery
The Finance Ministry has ordered an investigation into bribery allegations against Chennai customs officials by Wintrack Inc, a Chennai-based import-export firm.
ITR filing: Has the deadline extended to September 30?
The Income Tax Department has clarified that the deadline for filing Income Tax Returns (ITRs) for FY 2024-25 remains September 15, 2025.
Public sector banks key to 'Viksit Bharat 2047' vision
The Ministry of Finance has identified public sector banks (PSBs) as key players in realizing the 'Viksit Bharat 2047' vision.
Why CEOs of insurance companies are meeting Finance Ministry today
Top executives from various insurance companies in India are set to meet officials from the Department of Financial Services (DFS) today.
Why LIC seeks rollback of retrospective GST changes
The Life Insurance Council and the Life Insurance Corporation of India (LIC) are likely to write to the Ministry of Finance and the Central Board of Indirect Taxes and Customs (CBIC).
Centre allows one-time switch from UPS to NPS: Know benefits
The Indian government has launched a one-time switch facility from the Unified Pension Scheme (UPS) to the National Pension System (NPS).
India to clear more semiconductor projects
India is gearing up to approve two to three more semiconductor projects, using the remaining funds from its ₹76,000 crore Semicon 1.0 program.
No GST on UPI transactions above ₹2,000: Finance Ministry
The Ministry of Finance has confirmed that there are no plans to impose Goods and Services Tax (GST) on Unified Payments Interface (UPI) transactions over ₹2,000.
Central government holds GPF interest rate steady at 7.1%
The Indian government has announced that the interest rate for the General Provident Fund (GPF) and other related provident fund schemes will remain unchanged at 7.1% for the July-September quarter of 2025.
Why government banks have to list subsidiaries on stock exchanges
The Ministry of Finance has urged public sector banks (PSBs) to consider monetizing their investments in subsidiaries by listing them on stock exchanges.