Pakistan has been scrambling in recent months to avoid being added to a list of countries deemed non-compliant with anti-money laundering and terrorist financing regulations.
Welcoming Raghuram Rajan panel report which has put Bihar among the least developed states, Chief Minister Nitish Kumar on Thursday described it as a 'victory' for the state but was non-committal on alliance with the Congress for the forthcoming Lok Sabha elections.
Austerity measures announced by the government to rein in the fiscal deficit will not apply on air travel by ministers and senior officers going abroad on official visit.
Tobacco will be subjected to the highest tax slab of 28 per cent and an additional cess. The current rates of taxation on cigarettes and chewing tobacco are about 64 per cent and 81 per cent, respectively.
After reducing duties on petroleum products, the Centre has now asked the states to follow suit.
Pranab Mukherjee will begin the fortnight-long pre-budget brainstorming sessions with various stakeholders.
The final decision on the proposal rests with the Union Cabinet, chaired by Prime Minister Manmohan Singh.
Vodafone is locked in twin tax disputes with the government.
A reshuffle-cum-expansion of Union Council of Ministers appears to be on the cards after the July 19 Presidential elections.
The Reserve Bank of India has sought views of the Union ministry of finance in giving permission for a 'Credit Suisse' Swiss Bank to open its first Indian branch in Mumbai.
Can the newly-minted Jal Shakti ministry bring water to some 19 crore Indian households that have never had taps or heard the sound of flowing water, wonders Vinayak Chatterjee.
Sebi has proposed waiving off stamp duty on e-issuance of bond to the ministry of finance.
The Akash missile systems have over 96 percent indigenous components and the weapon can hit targets at a range of 25 km.
In the case of the killing of the IAF personnel in a terror attack in Srinagar in 1990, the court had summoned two witnesses for identification, but they could not appear citing medical reasons, Bhat said, adding that both of them had to come from outside.
NITI Aayog had been asking for Rs 7,500 crore for three years to set up an AI framework.
Post office savings of 1, 2 and 3 year term deposits and 5-year recurring deposit currently fetch 8.4 per cent interest per annum.
The Union finance ministry is planning to make rules regarding wilful defaulters more stringent, so that criminal charges can be pressed against such entities.
Union Home Minister P Chidambaram called Prime Minister Manmohan Singh and discussed with him the issue of a finance ministry note on allocation of 2G spectrum which appeared to raise questions on his role.
The government and MMRDA are keen to develop the 22-km link, which will connect Sewri on the island city to Nhava Seva in Navi Mumbai, on an engineering, procurement and construction basis and not on the build-operate transfer model, considering past experience.
This is the fourth such recruitment drive proposed to be undertaken by the Narendra Modi government which had in 2018 initiated lateral entry.
Restoration of Customs duty on crude oil & rollback of exemptions likely.
Regulated electronic platforms such as e-spot markets or spot exchanges may be deemed as authorised markets.
The drive of the disinvestment department to move ahead with its plan to raise Rs 40,000 crore was often neutralised by the desire of the administrative ministries to get better valuation and better price for the shares of the companies put on the block.
The Lower House of Parliament took up the Demands for Grants and Appropriation Bills after two adjournments as the ruling and Opposition MPs engaged in a matching duet over demands for an apology by Rahul Gandhi and the Adani issue.
The Finance Audit and Investment committee recommended 8.95% interest.
Of the total cash outgo Rs 40,000 crore is towards enhanced expenditure under Mahatma Gandhi National Rural Employment Guarantee Program and Rs 33,771.48 crore have been sought for direct benefit transfer under Pradhan Mantri Jan Dhan Yojana and National Social Assistance Programme.
Seven electric two-wheeler companies have suffered a cumulative loss of over Rs 9,000 crore on account of unpaid dues and loss of market after their subsidies were stopped last year, the Society of Manufacturers of Electric Vehicles (SMEV) said on Wednesday. These companies have also been directed by the govt to refund the subsidies availed by them. The audit by SMEV's chartered accountants indicates the total, cumulative damages to affected companies could account for over Rs 9,000 crore on a conservative basis, it noted.
In its recommendations to the finance ministry, the commerce ministry has made a strong case for helping exports, particularly in the labour-intensive sectors like leather, textile and handicrafts.
'It is just an excuse to say that the Centre has run out of money.' 'Pruning these schemes would mean hard time for the people of India.'
Jaitley said note ban has compelled people to deposit money into bank accounts.
Gujarat Chief Minister Anandiben Patel and the finance minister were in the commercial capital to participate in a road show organised jointly by the Gujarat government and Confederation of Indian Industry for the Vibrant Gujarat summit, slated for January next year.
Earlier this month, the Union Cabinet had approved the merger of SBS with SBI. The boards of both the banks had given their approval for the merger in August last year. SBS is a wholly-owned subsidiary of the State Bank of India. The merger would be effective from the 'date as may be notified by the Govt of India in the official Gazette'.
In the Union budget, Rs 65,011.8 crore has been allocated to the Ministry of Health and Family Welfare, up from Rs 62,659.12 crore in 2019-20.
The panel was informed that the economic impact of the second wave of viral infection was "asynchronous in its onset and wider in its spread particularly in rural hinterland", a source said.
Budget may allow use of advance-pricing agreements for past cases.
Union Finance Minister Pranab Mukherjee has brought about a coup in North Block by bringing an Indian Foreign Service officer Venu Rajamoni as Joint Secretary to head multilateral institutions division.
7 states account for over 80 per cent of the total direct tax collections by the Union government.
National artificial intelligence unit stuck for lack of anchor department
