Ministry of Finance: News

02 Mar 2024


Finance Ministry imposes Rs. 5.49cr fine on Paytm Payments Bank

India's Financial Intelligence Unit (FIU) has slapped Paytm Payments Bank, Paytm's banking division, with a hefty penalty of Rs. 5.49 crore for failing to report illegal monetary transactions through its accounts.

23 Feb 2024

Indian Government

I-Soon leak: Chinese hackers target India's government offices, corporates

A Chinese hacker group with ties to the Beijing government has reportedly targeted key Indian government offices, including the Prime Minister's Office, and corporates like Reliance Industries and Air India.

23 Jan 2024


Centre hikes import duty on gold, silver jewelery parts 

The Finance Ministry has raised the import duty on gold and silver findings (small parts) and coins of precious metals from 11% to 15%, as per Reuters.

31 Dec 2023

Indian Government

Arvind Panagariya appointed as 16th Finance Commission Chairman

The Indian government has appointed Arvind Panagariya, a former NITI Aayog Vice Chairman and Columbia University professor, as the Chairman of the 16th Finance Commission.

04 Dec 2023


India to become $5tn economy in 'Amrit Kaal': MoS Finance

Pankaj Chaudhary, the Minister of State for Finance, stated that India is poised to become a $5 trillion economy in the early stages of "Amrit Kaal."

21 Nov 2023


India may face recession risks in 2024, warns Finance Ministry

The Ministry of Finance's latest monthly review warns of a potential recession in 2024 due to uncertainties surrounding rising food and energy costs amid geopolitical tensions.

16 Nov 2023


Finance Ministry to present concise economic report before Interim Budget

The Indian Finance Ministry is planning to release a concise report outlining the nation's economic status prior to the Interim Budget on February 1, Moneycontrol has reported.

Centre begins crediting interest to PF accounts ahead of Diwali

The process of depositing interest into provident fund (PF) accounts for the fiscal year 2022-23 has begun, as reported by the Employees' Provident Fund Organisation (EPFO) in an official announcement.

31 Oct 2023

Indian Government

Centre's fiscal deficit widens to Rs. 7L crore in April-September

The Indian government's fiscal deficit expanded to Rs. 7.02 lakh crore during April-September, up from Rs. 6.43 lakh crore in April-August, as reported by the Controller General of Accounts.

Government's borrowing plan for H2 FY24 to remain unchanged

The Ministry of Finance is unlikely to alter the government's borrowing plan for the second half of FY24, maintaining the scheduled Rs. 6.55 lakh crore announced in late March.

30 Jun 2023

PAN Card

Deadline for PAN-Aadhaar linking ends today: How to complete process

The deadline to link the Permanent Account Number (PAN) to Aadhaar ends today (June 30), as per the announcement by the Ministry of Finance.

22 May 2023


All commodities likely to become cheaper in 2023: Finance Ministry

The prices of all commodities, except precious metals, are expected to see a drop in 2023, the Finance Ministry said in the April edition of its Monthly Economic Review.

28 Mar 2023

Income Tax Return

10 income tax rule changes from April 1: Know here 

The new financial year 2023-24, which starts on Saturday (April 1), will see the Ministry of Finance bring about many changes to the income tax rules.

28 Mar 2023

PAN Card

PAN-Aadhaar linking deadline extended to June 30, 2023

The deadline to link the Permanent Account Number (PAN) to Aadhaar has been extended to June 30, 2023, the Ministry of Finance announced on Tuesday.

EPFO fixes 8.15% interest rate on Employees' Provident Fund

The Employees Provident Fund Organization (EPFO) has fixed an 8.15% interest rate on the Employees' Provident Fund (EPF) for 2022-23, reported NDTV.

Over 95,400 UPI-related frauds reported in 2022-23: Centre

A total of 95,402 cases of Unified Payments Interface (UPI) transaction-related frauds were recorded in the country in 2022-23, the Finance Ministry told the Parliament on Wednesday.

08 Mar 2023


Government imposes anti-money laundering provisions on cryptocurrency, virtual assets

In the latest blow to the cryptocurrency sector in the country, the Indian government has imposed money laundering provisions on the industry.

01 Mar 2023


February GST collections up 12%, third-highest of all time

Goods and Services Tax (GST) collections increased by 12% to over Rs. 1.49 lakh crore in February 2023, the Finance Ministry informed on Wednesday.

31 Jan 2023


Parliament Budget Session begins; President Murmu calls government fearless, decisive

The Budget Session of the Parliament kicked off on Tuesday with President Droupadi Murmu's maiden address to a joint sitting of Lok Sabha and Rajya Sabha.

17 Jan 2023

Union Budget

Centre mulling over reducing income tax rates under new regime

The central government is mulling over lowering income tax rates in order to make the new direct tax regime more attractive, as per a report by Reuters.

16 Dec 2022

Indian Government

Centre cuts windfall tax on oil companies amid falling prices

The Indian government has slashed the windfall taxes imposed on domestic crude oil exports, diesel, and Aviation Turbine Fuel (ATF).

21 Nov 2022

Nirmala Sitharaman

Union Budget 2023: Finance Minister Nirmala Sitharaman begins pre-budget talks

Union Finance Minister Nirmala Sitharaman on Monday, as part of pre-Budget 2023-24 consultations, virtually held discussions with experts and industry leaders in infrastructure and climate change areas.

13 Oct 2022

Government of India

Education loan guarantee limit will be Rs. 10 lakh: Report

The Government of India is considering raising the guarantee limit for education loans from Rs. 7.5 lakh to Rs. 10 lakh, according to The Indian Express report.

05 Aug 2022


Money laundering: ED freezes crypto exchange WazirX chief's bank assets

The Enforcement Directorate (ED) on Friday froze the bank assets of cryptocurrency exchange WazirX heads in an ongoing money laundering probe.

19 Apr 2022

Sri Lanka

Sitharaman assures Sri Lanka of all possible assistance from India

Finance Minister Nirmala Sitharaman on Tuesday "assured all possible cooperation" to her Sri Lankan counterpart Ali Sabry on the sidelines of IMF-WB Spring Meetings in the US.

01 Feb 2022

Nirmala Sitharaman

Union Budget 2022: Here are the key takeaways

Union Finance Minister Nirmala Sitharaman on Tuesday (February 1) presented the Budget for the upcoming fiscal year, 2022-2023.

Income Tax Returns deadline extended to March 15

The central government on Tuesday extended the due date for filing Income Tax Returns for Assessment Year 2021-22 to March 15, 2022.

27 Dec 2021

Nirmala Sitharaman

GST changes from January 1: Here's how it impacts prices

The Goods and Services Tax (GST) regime will witness a host of tax rate and procedural changes starting January 1, 2022.

29 Nov 2021


No proposal to recognize Bitcoin: Finance Ministry tells Parliament

The Centre said Monday that it has no proposal to recognize Bitcoin as a currency in the country.

04 Nov 2021

Fuel Price Hike

9 BJP-ruled states cut petrol, diesel rates further

Several states have announced additional relaxations for prices in petrol and diesel shortly after the Centre cut excise duty on fuel.

03 Nov 2021

Government of India

Petrol, diesel made cheaper before Diwali; excise duty slashed

The central government on Wednesday announced a reduction in the excise duty on petrol and diesel.

21 Oct 2021

Dearness Allowance

Cabinet approves 3% DA hike for central government employees

The Union Cabinet on Thursday approved a 3% hike in dearness allowance (DA) and dearness relief (DR) for central government employees and pensioners.

13 Oct 2021


Sitharaman rubbishes reports of coal shortage as 'baseless'

Finance Minister Nirmala Sitharaman on Tuesday denied reports of coal shortage in the country and said these are "absolutely baseless."

Pandora Papers: Government orders multi-agency probe led by CBDT

The Centre on Monday ordered a multi-agency probe to investigate the revelation made by media organizations, dubbed the "Pandora Papers," about the hidden wealth of global elites, including 380 Indians, in offshore accounts.

16 Sep 2021

Nirmala Sitharaman

Nirmala Sitharaman announces Rs. 30,600 crore guarantee for 'bad bank'

To reduce the non-performing assets (NPA) of public sector banks, the Union Cabinet approved a plan to set up the National Asset Reconstruction Company Limited (NARCL) or the "bad bank."

Centre 'cherry-picking' candidates for tribunal appointments; SC warns contempt proceedings

The Supreme Court Wednesday came down heavily on the Centre for "cherry-picking" appointments from its tribunal waitlist rather than appointing persons recommended by the Search and Selection Committees (SCSCs).

23 Aug 2021

Nirmala Sitharaman

Sitharaman launches National Monetization Pipeline to monetize under-utilized assets

Finance Minister Nirmala Sitharaman on Monday launched the National Monetization Pipeline worth Rs. 6 lakh crore.

16 Aug 2021

Nirmala Sitharaman

No excise cut on fuel; Sitharaman blames UPA-era oil bonds

Finance Minister Nirmala Sitharaman on Monday blamed the former Congress-led United Progressive Alliance government for the soaring fuel prices.

26 Jul 2021

Indian Economy

Spike in rural unemployment; urban unemployment rises marginally: CMIE

Rural India is witnessing a spike in the weekly unemployment rate, according to data from the Centre for Monitoring Indian Economy (CMIE).

Salary, pension, EMI rules changing; all you need to know

All important banking transactions such as salary, pension, and Equated Monthly Installment (EMI) payments will take place 24X7 from August 1.

14 Jul 2021

Anurag Thakur

Dearness Allowance for government employees hiked from July 1

The Union Cabinet on Wednesday approved a hike in the Dearness Allowance (DA) and Dearness Relief (DR) for employees of the central government and pensioners.

TDS rules change from this month. Check details here

In the Union Budget 2021, the Finance Ministry has introduced a fresh rule to deduct Tax Deducted at Source (TDS) at a higher rate for those who failed to file their income tax returns for the past couple of years.

28 Jun 2021

Nirmala Sitharaman

FM announces Rs. 1.1 lakh-crore loan guarantee for COVID-hit sectors

Union Finance Minister Nirmala Sitharaman addressed a key press conference on Monday, announcing a slew of economic relief measures.

01 Apr 2021

Nirmala Sitharaman

Within hours, Modi government rolls back small savings rate cut

Less than 12 hours after announcing a steep reduction in small savings interest rates, the government has scrapped the order, saying it was issued by oversight.

01 Feb 2021

Indian Railways

Budget 2021: Rs. 1.1 lakh crore plan for Indian Railways

Union Finance Minister Nirmala Sitharaman on Monday announced a record sum of Rs. 1.10 lakh crore for the Indian Railways in her Budget 2021 speech.

01 Feb 2021

Nirmala Sitharaman

Budget 2021: What gets more expensive and what gets cheaper?

Union Finance Minister Nirmala Sitharaman on Monday presented the Union Budget for the financial year 2021-2022.

01 Feb 2021

Nirmala Sitharaman

Budget 2021: What is the voluntary vehicle scrappage policy?

During her Union Budget 2021 speech, Finance Minister Nirmala Sitharaman on Monday announced a voluntary vehicle scrappage policy.

01 Feb 2021

Nirmala Sitharaman

Budget 2021: Infrastructure gets big boost

Union Finance Minister Nirmala Sitharaman on Monday unveiled India's first post-COVID-19 Union Budget for the financial year 2021-2022.

19 Jan 2021


India to hike import duties on smartphones, electronics, etc.: Report

India is reportedly considering a hike in import duties by 5-10% on smartphones, electronic components, and appliances among more than 50 items in the upcoming Union Budget.