Indirect tax collections saw only a meagre 3.5 per cent growth, as mop-up from Customs fell sharply on account of a drop in imports.
Norms governing investments by provident funds bar these from depositing funds in a commercial bank in case the NPAs of that bank exceed two per cent of net advances.
Many ministries couldn't use the allocated funds since it came into force, resulting in much-needed savings.
A tax reforms panel, headed by finance minister's advisor Parthasarathi Shome, is considering moving away from setting fixed tax-collection targets and linking these with the changing economic scenario during the year.
SBI's overall gross NPA as on end-December 2013 was close to Rs 68,000 crore ( Rs 680 billion) or 5.73 per cent of its gross advances.
The US has been widely criticised for using pressure tactics to secure information from other countries, without reciprocity.
Two key depts in ministry cold to rationale for one; postal dept says it's more eligible than IDFC or Bandhan, feels 'strong lobby' scuttling its plans.
Generally,profit of a partnership firm is divided among its partners in sync with their partnership deal.
FY14 sees 16% decline in adjustments; department adds only Rs 59,000 crore to the profits attributed by multinationals, against Rs 70,000 crore a year ago
The Sahara group's problems continue, with rating agency CARE cutting its 'BBB' ranking for Sahara Hospitality Ltd's (SHL) long-term bank facility to 'BBB-', due to sub-optimal financial and operational performance.
Delhi High Court quashes reassessment proceedings by Income Tax department.
The RBI needs to maintain a healthy contingency reserve so that it can lend its support in case of a bank failure.
Currently, the West Asian banking group has three branches - in Mumbai, Hyderabad and Kochi.
The State Bank of India has proposed to the RBI to allow it to charge mark-to-market losses on its balance sheet.
The Finance Ministry is of the opinion that Vodafone might drag its tax dispute to court.
The government managed to raise revenues by sending notices to high net individuals to did not file I-T returns last year.
The Finance Ministry has asked top rung exectives of United bank of India to furnish bad loan recovery report on daily basis.
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It would be fair to say that markets are coming to the end of a down-cycle and are at the cusp of the next up-cycle.
To help compare numbers better, FinMin might retain the interim Budget Estimates with the new ones.
The finance ministry is working on a Cabinet note for establishing a full-fledged Public Debt Management Office, officials told Business Standard.
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