Fino Payments Bank asserts its compliance with GST regulations following the arrest of its MD and CEO, Rishi Gupta, by the Directorate General of GST Intelligence (DGGI). The bank clarifies that the investigation pertains to program managers associated with multiple banks and not the bank's own GST compliance.
'This Budget has a one-year agenda, which you can call the sprint, and the marathon is towards Viksit Bharat.'
Delhi Police have detained a 41-year-old woman, Sonia, under the Prevention of Illicit Traffic in Narcotic Drugs and Psychotropic Substances (PIT-NDPS) Act for alleged drug trafficking.
India appears poised to sustain its growth in a more durable way than before with the economy carrying the momentum from FY23 into the current fiscal year, the Annual Economic Review for 2022-23 released by the finance ministry on Thursday said. However, the report cautioned that escalation of geopolitical stress, enhanced volatility in global financial systems, sharp price correction in global stock markets, a high magnitude of El-Nino impact, and modest trade activity and FDI inflows, are factors that could constrain the pace of growth. "Should these developments deepen and dampen growth in the subsequent quarters, the external sector may challenge India's growth outlook for FY24," the finance ministry said.
The power ministry had approached the department of disinvestment in August 2007 for approval for NTPC's FPO, which could fetch the company nearly Rs 6,000 crore to part-finance its expansion programme.
Capex, infrastructure development, and prudent fiscal management are the key focus areas in the Budget, says Nilesh Shah.
For decades, several key government offices and ministries functioned from fragmented and ageing infrastructure spread across multiple locations in the Central Vista area.
The finance ministry has asked all ministries and departments not to initiate any new scheme in the current financial year and said that there is a need to use resources prudently in the wake of the COVID-19 crisis. However, funds for schemes under the Pradhan Mantri Garib Kalyan Package, the Aatmanirbhar Bharat Abhiyan package and any other special package or announcement would be allocated, according to an office memorandum by the department of expenditure, which comes under the finance ministry.
The finance ministry is of the view that all interests -- direct and indirect -- should be taken into account and that there should not be any threshold for calculating total effective foreign shareholding in a company.
Delhi Police inform court that a BMW driver involved in a fatal accident last September is charged with culpable homicide for allegedly delaying medical assistance to the victim.
The distance between North Block and Mint Road has been growing for quite some time. The latest evidence of tension is the finance ministry's decision to introduce a clause in the Banking Amendment Bill allowing banks to trade in commodity futures, despite the central bank's reservations on the issue.
On Agri Stack, Expenditure Secy V Vualnam says it's progressing well; using IT, farmers will be able to choose exact fertiliser quantities needed, reducing crowding at fertiliser outlets.
Reserve Bank has expressed dissent at the finance ministry panel's suggestion on allowing foreign institutional investors to issue Participatory Notes and allowing them to take exposure in India's debt instruments.
Diktat to four general insurance companies says 'avoid competition' in any corporate or group account
A quick assessment of the ground reality will tell you that it is a reflection of the finance ministry's mistaken faith in factors beyond its control.
While Arun Jaitley remains part of the decision making process, Piyush Goyal, who was given additional charge on May 14, attends cabinet meetings and takes the day-to-day decisions.
Following the notification allowing 100 per cent foreign direct investment (FDI) in the insurance sector, the Finance Ministry has revised norms to remove the requirement that a majority of directors and key management personnel in an insurance company with foreign investment be Indian residents.
The telecom ministry has referred the matter of number of 3G spectrum slots in each circle to the Finance Ministry.
Sitharaman continues with the tradition she set in 2019, carrying the budget speech in a 'bahi-khata', which she used after dropping the briefcase tradition.
PMO joint secretary Subrahmanyam to play a key ro#8804 full-time finance minister likely before October
Finance Minister Nirmala Sitharaman on Sunday proposed a six-month foreign asset disclosure scheme for small taxpayers like students, tech professionals and relocated NRIs as she presented the Union Budget 2026-27.
Customs regimes can lead to labyrinthine legal disputes. Budget 2026 must recognise that an excessively defensive Customs posture can itself become a trade barrier, point out Mukesh Butani and Shankey Agrawal.
The FM also said the government has proposed a joint panel of Corporate Affairs Ministry and CBDT for incorporation of income computation and disclosure standards.
It was not immediately clear when Garg submitted his voluntary retirement scheme application to the government. It was also not known if the government would accept the application. If he hadn't applied for VRS, he would have retired from government service at the end of October 2020 on attaining of 60 years of age. Garg did not answer phone calls seeking his comments.
What we are watching is something different: A fog manufactured and maintained by the people who started the war, so that the question of why it was started never has to be answered, observes Prem Panicker in his must read blog on the war in the Middle East.
Nirmala Sitharaman moved into her Kartavya Bhavan office on October 2, in time to get the work on the Budget 2026-2027 going.
The project is aimed at enabling faster movement of security forces and military equipment during exigencies, while also improving connectivity to Arunachal Pradesh, Manipur and other north eastern states.
The Cabinet Committee on Security (CCS) has reviewed the evolving situation in West Asia, directing departments to assist Indian nationals affected by recent developments and emphasizing the need for dialogue and diplomacy.
Building on last year's clearance of 172K cases, I-T department is pushing for faster appeal disposals, penalty reforms and system-driven processes to curb litigation and boost tax certainty.
The appointment, expected shortly, will come in the backdrop of tax expert Parthasarathy Shome recently resigning from the post of adviser to Finance Minister P Chidambaram.
As finance ministry officials remained glued to news flashes on the LCD screens in their rooms, others were constantly monitoring news on the web. The support staff got its share of the news feed by keeping a close watch on politicians visiting North Block, reports Vrishti Beniwal
Lok Sabha Speaker Om Birla and Foreign Secretary Vikram Misri attended the swearing-in ceremony.
Finance Minister Nirmala Sitharaman launched a strong attack on Rahul Gandhi and the Congress party, accusing them of compromising India's interests on the world stage and selling out farmers and the poor during their time in power.
The newly appointed Union Finance Minister Pranab Mukherjee took charge of his new office in north block, returning to it after a gap of 24 years. The Finance Ministry office, which has been sealed off to outsiders and particularly prying journalists with the vote-on-account preparations in full swing, was on Thursday opened up at 4 p.m. when the media was invited in to cover the taking over ceremony.
'We kept this Budget on a larger plank, rather than on one incident, however serious.'
The global financial crisis has empowered fiscal conservatives in India.
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