Projects worth Rs 500 crore and above and up to Rs 1,000 crore can be cleared by the Finance Minister.
The way the present government has dealt with appointments of civil servants remains to be a cause for concern.
The National Informatics Centre uses AI to automate document analysis and detect fraud in government departments.
Pant, a 1991-batch Indian Administrative Service officer of Rajasthan cadre, is currently secretary in the ministry of ports, shipping and waterways.
"Cash is still quite high in the system. There is also stocking of Rs 2,000 notes in evidence. The expansion of digital payments is taking place all over the world. It is happening in India as well. The pace is much slower," S C Garg, who took VRS from government service after he was abruptly shifted out of the finance ministry, said in a note.
He drew the roadmap of India's economic reform, unshackled it from the licence raj and pulled it back from the brink when even its gold reserve was pledged.
The ministry of finance will kickstart its massive budgetary exercise from October 15.
Debroy is expected to have a role and responsibility similar to the erstwhile chairman of the Prime Minister's Economic Advisory Council
The central government has appointed India Invest Economic Foundation, a private agency, as consultant for operationalisation of new pension scheme by this month.
The guidelines for strategic disinvestment were issued on Monday itself when Finance Minister Arun Jaitley presented the Union Budget for 2016-17.
The fund will promote domestic shipbuilding of all types and sizes to reduce India's dependence on foreign ships.
Subhash Chandra Garg, the former finance secretary who was shunted out of the finance ministry within three weeks of Modi-2.0 government's first budget last year, on Saturday alleged that new Finance Minister Nirmala Sitharaman got him transferred out.
The appointment will be made by Prime Minister Narendra Modi in consultation with Finance Minister Arun Jaitley.
6 locations in New Delhi and 2 in Mumbai were raided.
The Central Board of Direct Taxes, another wing of the Finance Ministry, has also been cautioning people against providing details of their PIN numbers, passwords or similar access information for credit cards, banks or other financial accounts through e-mail.
Jaitley's team presents a quintessential mix of foreign-educated, intellectual technocrats and seasoned bureaucrats
The government on Monday approved the appointment of B P Mishra as the new executive director of International Monetary Fund.
Coming Wednesday, Finance Minister (FM) Nirmala Sitharaman will present the 2023 Union Budget - the last full Budget ahead of the 2024 Lok Sabha elections. While India exited 2022 as a relatively bright spot in the global economy, the FM will endeavour to present a Budget that insulates India's economy against global headwinds and recession in advanced economies, while sticking to the path of fiscal consolidation. In this, she is being helped by her core team of trusted advisors.
The government has allowed the Enforcement Directorate to share information about economic offenders with 15 more agencies, including SFIO, CCI and NIA, a move that will expedite nailing of law-breakers. The finance ministry notified changes to the Prevention of Money Laundering Act (PMLA), 2002, on November 22. Through the notification, the Enforcement Directorate (ED), which deals primarily with cases of money laundering and violations of foreign exchange laws, would be able to share data with a total of 25 agencies, including the 10 specified earlier.
Prime Minister Narendra Modi and French President Emmanuel Macron have called for enhancing trade and investment ties between their countries and committed to further deepening their engagement in the Indo-Pacific. They discussed a full spectrum of bilateral relations, including key global and regional issues, and stressed the urgent need for reform in the United Nations Security Council. The leaders also underscored their commitment to ensuring the global AI sector can drive positive social, economic, and environmental outcomes.
Users should be aware of "fake emails" sent in the garb of a government e-notice, said the Indian Cyber Crime Coordination Centre (I4C) in a public advertisement.
The government has merged the Department of Public Enterprises (DPE) with the finance ministry to give it a better control over state-owned firms and facilitate its ambitious privatisation programme. Finance ministry will now have six departments while DPE's hereto parent ministry, the ministry of heavy industries and public enterprises will now be called the ministry of heavy industries. Previously, the disinvestment ministry - created under the Atal Bihari Vajpayee government - was merged with the finance ministry and is now a department under it. Also, Foreign Investment Promotion Board (FIPB) was abolished and administration of foreign investments was given to the finance ministry (FinMin).
Long-term tax-saving FDs can also be considered after the PPF limit has been exhausted.
Nirmala Sitharaman on Wednesday assumed charge as the Finance and Corporate Affairs Minister for the second consecutive term and is slated to soon present the final Budget for FY '25 that is going to set the tone for the Modi 3.0 government's priorities and direction for Viksit Bharat. Upon her reaching the North Block office, Sitharaman was greeted by Finance Secretary T V Somanathan and other top officials. Minister of State for Finance Pankaj Chaudhary was also present. Chaudhary assumed charge on Tuesday evening.
Seven of the meetings will be held in late November or early December at the finance ministry, as is the norm.
Russia says cash shortage is affecting the functioning of its embassy in New Delhi.
The Appointments Committee of Cabinet has named Ravneet Kaur, a Punjab cadre IAS officer of 1988 batch, as chairperson of the Competition Commission of India (CCI). Kaur will hold the post for five years or until attaining the age of 65. She is the second woman to serve in an 'economic regulator' role after Madhabi Puri Buch, who was appointed chairperson of the Securities and Exchange Board of India last year and the first woman to head the country's chief national competition regulator.
DEA is currently headed on an interim basis by Corporate Affairs Secretary Tapan Ray
The main responsibility for producing the Budget rests with the Budget Division of the Department of Economic Affairs in the finance ministry
Senior bureaucrat Atanu Chakraborty has been appointed as the department of expenditure secretary on Wednesday, replacing G C Murmu who was named as the first Jammu and Kashmir lieutenant governor last week.
Life Insurance Corporation (LIC) may require at least five more years to comply with the minimum public shareholding of 25 per cent beyond the current exempted timeline of 2027. Formal communication in this regard had been shared recently with the finance ministry, underlining LIC's roadmap, plans of further dilution of stake, current norms around public float, and challenges ahead, a government source familiar with the matter said. "Going forward, we will have to take a call, along with Sebi (Securities and Exchange Board of India) and the Department of Economic Affairs on the roadmap for minimum public shareholding (MPS).
Prime Minister Narendra Modi will retain DoPT, Atomic Energy as well as all important policy issues and portfolios not allocated.
The highest-ever goods and services tax (GST) evasion has been done by the online money gaming industry.
'It has been an ongoing process, talking to the relevant ministries about eliminating leakages and curbing non-core expenditure in various schemes.'
Bureaucrats heading disinvestment and financial services usually don't get appointed as finance secretary.
Only 80.6 per cent of the Rs 6-trillion allocation has been spent by February, data from the Controller General of Accounts shows.
As part of the ritual, ''halwa'' is prepared in a big ''kadhai'' (large frying pot) and served to the entire staff involved in the Budget making exercise of the ministry. Halwa was served while maintaining COVID protocol with all present in mask and those distributing sweets were wearing gloves.
Finance Minister Nirmala Sitharaman will present the much-awaited 2022-23 Union Budget on February 1. While there has been strong recovery in some sectors, touch services like hospitality, tourism and leisure continue to suffer after two Covid-19 waves. Household savings have been hit due to increased spending on health care. Consumption has still not reached pre-pandemic levels.
Documents related to 2G spectrum allocation cannot be accessed by the public till the Joint Parliamentary Committee completes its probe and submits its report, the Central Information Commission has stated. The JPC, which is probing the high-profile scam, has directed the finance ministry not to reveal any information till it completes the probe.
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