Ministry of Finance: News
01 Aug 2018
GSTGST collection rises to Rs. 96,483 crore in July
GST collections rose to Rs. 96,483cr in July from Rs. 95,610cr mopped up in the previous month, the Finance Ministry said.
30 Jul 2018
Times of IndiaITR filings have doubled, refunds have increased significantly
While the Finance Ministry has extended the deadline for filing of annual income tax returns (ITRs) to August 31, it seems like the government's efforts to bring more eligible people under the tax net has worked.
27 Jul 2018
IndiaGST-cut: Refrigerators, washing-machines, vacuum-cleaners are now 8-10% cheaper
If you were looking to buy a refrigerator, washing machine, vacuum cleaner or a small-screen TV, now is the time: industry insiders say prices will fall to a two-year low after the biggest GST rate cut since November, that was announced last week.
26 Jul 2018
Income Tax Department of IndiaITR filing deadline extended for 'certain categories' of taxpayers
In a tweet, the Finance Ministry has announced that the deadline for the filing of Income Tax returns has been extended by a month to August 31, 2018, albeit only for certain categories of taxpayers.
23 Jul 2018
IndiaFinance Ministry refuses to share three reports on 'black money'
The Finance Ministry has refused to share a copy of three reports on the quantum of black money held by Indians inside the country and abroad, saying its disclosure would cause a breach of privilege of Parliament.
22 Jul 2018
IndiaNow, only 35 goods in highest 28% tax-bracket of GST
The Goods and Services Tax (GST) Council has pruned the 28% slab by cutting tax rates on 191 goods over the last one year, leaving just 35 items, including ACs, digital cameras, video recorders, dishwashing machines, and automobiles, in the highest tax bracket.
20 Jul 2018
IndiaTap-and-go debit/credit cards for hassle-free metro, bus, train travel
In line with the government's target of 30-billion digital transactions in the current year, the Ministry of Finance has asked banks to issue near-field communication (NFC)-enabled tap-and-go debit and credit cards that can be used beyond merchant transactions for services like metro, train, and bus travel.
17 Jul 2018
India#FinancialBytes: Situations in which you can withdraw PF before retirement
Employees Provident Fund (EPF) is primarily a retirement benefit scheme by the Government of India for all salaried individuals in which employees get their accumulated funds after retirement or job-loss to finance their expenditures.
09 Jul 2018
IndiaIIM-Ahmedabad gets a service tax bill of Rs. 52cr
The IIM-Ahmedabad has been hit with a massive tax burden: authorities have demanded Rs. 52cr as service tax for the period between 2009-10 and 2014-15.
28 Jun 2018
Madhya PradeshFinance ministry approves Rs. 1.07 lakh crore for metro-rail projects
The Finance Ministry has given 'in-principle' approval to metro rail projects in Kanpur, Bhopal, Indore, Agra and the phase IV of Delhi Metro, amounting to Rs. 1.07 lakh crore, multiple reports said.
21 Jun 2018
HuaweiMalaysian CEO killed as his smartphone explodes during charging
Smartphone explosions have become quite common, but deaths due to it aren't. The CEO of a Malaysian company became a rare victim.
20 Jun 2018
Arun JaitleyChief Economic Adviser Arvind Subramanian quits months before term ends
Indian Chief Economic Adviser (CEA) Arvind Subramanian is quitting and moving to the US due to "pressing family commitments," Finance Minister Arun Jaitley announced today.
12 Jun 2018
Narendra ModiAir India sale: After flop-show, government mulls selling 100% stake
After a flop attempt at handing off its money-guzzling flag carrier to the private sector, the government is now mulling selling 100% shares of Air India.
04 Jun 2018
All India Institute Of Medical Sciences (AIIMS)Jaitley returns home after kidney transplant; expresses gratitude to AIIMS
Finance Minister Arun Jaitley is back home after a three-week stay at AIIMS for a kidney transplant.
02 Jun 2018
India#FinancialBytes: 6 apps that help you buy/sell Bitcoins in India
World's most popular cryptocurrency Bitcoin's valuation has had some dramatic fluctuations over the past one year. It picked up the pace in May'17 from $2,000 to $20,000 in Dec'17 and plummeted to $6,046 in Feb'18.
01 May 2018
IndiaGovernment collected Rs. 1.03 lakh crore as GST in April
The government mopped up Rs. 1.03-lakh-crore as Goods and Services Tax (GST) collection in Apr'18, indicating stabilization of the new indirect tax regime that was rolled out in July'17.
29 Apr 2018
Business#FinancialBytes: Best investment options for those who earn Rs. 1L
Creating wealth by making investments and earning good returns is essential for anyone as earning money isn't always enough these days to fund one's financial goals.
27 Apr 2018
BusinessRevenue collection from GST stands at Rs. 7.41-lakh-crore in FY18
The government mobilized Rs. 7.41 lakh crore from the Goods and Services Tax (GST) during 2017-18 that was rolled out from 1 Jul'17.
22 Apr 2018
Delhi High CourtRBI circular barring banking service for cryptocurrencies challenged in HC
The Delhi HC has sought the response of the Centre, the RBI, and the GST Council on a plea challenging a circular which prohibits banks and financial institutions from "providing any service in relation to virtual currencies such as cryptocurrencies."
22 Apr 2018
World BankJan Dhan accounts' deposits reached Rs. 80,545.70cr on April 11
Total deposits in Jan Dhan accounts, which have been steadily rising since March 2017, were at Rs. 80,545.70cr on April 11, according to Finance Ministry data.
20 Apr 2018
7th Pay CommissionFY18: Railways may clock its worst-ever operating ratio at 98.5%
Railways' operating ratio, the direct indicator of working of the government-run transporter is expected to settle at 98.5% for 2017-2018, recording its worst performance ever since 2000-2001 when it was 98.3%.
19 Apr 2018
Andhra PradeshPrinting presses operating 24x7 to meet Rs. 70,000cr currency shortfall
The government has ramped up printing of currency notes and is operating all the four presses 24x7, an official said on Thursday amid ATMs running dry in many parts of the country.
18 Apr 2018
India#FinancialBytes: Best investment options for those who earn Rs. 1L
Creating wealth by making investments and earning good returns is essential for anyone as earning money isn't always enough these days to fund one's financial goals.
15 Apr 2018
Reserve Bank Of India (RBI)ICICI loans to Videocon: RBI finds no 'quid pro quo'
The Reserve Bank of India had two years back conducted a detailed scrutiny to probe allegations of impropriety in ICICI Bank extending loans to Videocon Group but found no proof of any "quid pro quo" or reciprocal benefits, according to RBI documents.
14 Apr 2018
Sexual AssaultKathua, Unnao: Has anything changed for India's women since Nirbhaya?
On December 16, 2012, a paramedical student was brutally gang-raped on a bus in Delhi, an incident that forced India to confront the horrors of gender-based sexual violence prevalent in the country.
06 Apr 2018
Indian Railways5% GST levied on food, drinks supplied in trains, platforms
Clearing all doubts about GST on Railway services, the Finance Ministry confirmed a 5% GST would be levied on food and drinks supplied on trains and platforms.
05 Apr 2018
Ram Nath KovindHonest taxpayers suffer due to willful loan defaulters: President Kovind
Amid mounting NPAs or bad loans in the banking sector, President Ram Nath Kovind today said honest taxpayers suffer due to willful and criminal default on a bank loan.
02 Apr 2018
HaryanaHaryana: Girl shoots self with father's-revolver for not topping class
A Class XI student of Pillukhera town of Haryana's Jind allegedly shot herself to death with her father's licensed gun on Sunday for not topping the class.
27 Mar 2018
Central GovernmentRs. 350 coin to mark Guru Gobind Singh's birth anniversary
The government will come out with a Rs. 350 commemorative coin to mark the 350th birth anniversary of Guru Gobind Singh, the 10th and last Sikh Guru.
27 Mar 2018
IndiaGST collection falls to Rs. 85,174 cr in February
GST collections slid for the second straight month to Rs. 85,174 crore in February as only 69% of the assessees filed returns.
23 Mar 2018
Central Bureau Of Investigation (CBI)INX money-laundering: Karti gets bail after 13-days in Tihar Jail
Karti Chidambaram, son of former Finance Minister P Chidamabaram, is out on bail in the INX money laundering case after 13 days in Tihar Jail.
22 Mar 2018
Nirmala SitharamanGovernment repeals Rs. 10,000/month education fee cap for martyrs' children
Heeding to a demand by the armed forces, the government has removed the cap of Rs. 10,000/month imposed by it in July last year on educational assistance given to children of martyrs or those disabled in action, officials said.
16 Mar 2018
Lok SabhaNo proposal under consideration to discontinue Rs. 2,000 note: Govt
The government on Friday categorically said there was no proposal to discontinue Rs. 2,000 currency note, which was introduced post demonetization.
15 Mar 2018
IndiaGST among most complicated tax-regimes, but has benefits: World Bank
India's new GST regime has the second highest tax rate among 115 countries with similar indirect tax systems, a World Bank report noted.
14 Mar 2018
State Bank of India (SBI)4.2mn SBI accounts closed for not keeping minimum balance: RTI
The SBI has closed 41.16 lakh savings bank accounts between April 2017 and January 2018 for not maintaining the minimum monthly balance, revealed an RTI query.
12 Mar 2018
Central Bureau Of Investigation (CBI)CBI seeks judicial custody while Karti wants separate prison cell
The CBI produced Karti Chidambaram in court today after his three-day police custody expired, and has now sought 15-day judicial custody, saying he remained "evasive" and "non-cooperative" during interrogation.
06 Mar 2018
Supreme Court Of IndiaINX case: SC refuses Karti Chidambaram protection from arrest
The SC has refused to grant interim protection from arrest by the Enforcement Directorate (ED) to Karti Chidambaram in the INX money laundering case.
05 Mar 2018
MumbaiINX money-laundering: Karti paid Rs. 1.8cr to influential political leader
ED has claimed that Karti Chidambaram, under investigation in the INX money laundering case, paid a senior political leader Rs. 1.8cr in five instalments in over 3.5 years.
28 Feb 2018
World Bank15th Finance Commission to soon decide what populism is
In a first, the Finance Commission, which recommends how much money states should get out of the taxes collected by the central government, will define what a populist measure is and recommend incentives for states that do not resort to them.
28 Feb 2018
IndiaPNB scam fallout: Center acts on setting up long-delayed NFRA
The massive PNB scam, India's biggest banking fraud till date, seems to have rattled the authorities.
