Ministry of Finance: News
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.
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.
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.
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.
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.
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.
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.
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.
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.
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).
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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).
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.