A senior official from the Union Ministry of Finance died and three others were injured after a BMW allegedly struck his motorcycle in Delhi. Police are investigating the incident.
The new government that presents the full Budget for 2024-2025 in July should be ready to restructure the way divestment is managed and implemented, proposes A K Bhattacharya.
With inflation comfortably below the Reserve Bank of India's (RBI's) 4 per cent median target and likely to undershoot its 3.7 per cent projection for 2025-26 (FY26), there is room for the monetary policy easing cycle to be sustained, the Finance Ministry said on Monday. The comments, featured in the ministry's Monthly Economic Review for June 2025, assume significance ahead of the Monetary Policy Committee (MPC) meeting of the Reserve Bank of India (RBI) scheduled to begin from August 5.
The finance ministry has clarified that its letter to state chief secretaries, urging them to align their bonus policy to promote pulses, oilseeds, and millets, was an advisory and not a directive. This clarification comes in response to Tamil Nadu Chief Minister M K Stalin's criticism, who called the advisory a 'treacherous act against farmers'.
The Confederation of Indian Industry (CII) has proposed a 20-point policy agenda to the finance ministry, including a conflict-linked emergency credit line guarantee scheme and tax rationalisation on energy inputs, to support MSMEs, exporters, and energy-intensive industries affected by the ongoing West Asia war.
The Israeli Finance Ministry has warned that the ongoing war with Iran could cost Israel an estimated NIS 9.4 billion (USD 3 billion approximately) per week under current restrictions on economic activities.
Newly-appointed Maharashtra Deputy Chief Minister Sunetra Pawar has been allocated the portfolios of State Excise Duty, Sports and Youth Affairs and Minorities Development and Aukaf.
The Indian Finance Ministry has instructed its officials to refrain from using AI tools and apps like ChatGPT and DeepSeek on government devices, citing concerns over data confidentiality. This move comes amidst global discussions regarding the potential security risks associated with AI tools and follows similar actions by countries like Australia and Italy, which have restricted access to DeepSeek due to privacy concerns. The directive highlights the growing awareness of the potential security implications of AI technology in government environments.
The Indian government has increased the export duty, or windfall tax, on diesel to Rs 55.5 per litre and on aviation fuel (ATF) to Rs 42 a litre, effective immediately, to boost domestic availability and prevent exporters from exploiting global price differences.
'Whether you will bring this down and cause hurt to senior citizens, who are probably living on that little interest rate that they earn out of it... But equally, if I just look at the kitty of the National Small Savings Fund, it is from that same kitty that I'm borrowing.'
We know what Mrs Sitharaman and Mr Chaudhary (who may soon be moving out of the finance ministry to head to Lucknow to take charge as president of the Bharatiya Janata Party's Uttar Pradesh unit) look like, but who are the others in these photographs?
The Parliamentary Standing Committee on Finance has asked the finance ministry to spell out a clear legal strategy, including options such as a "golden share" or indirect control structures, to maintain strategic oversight in public sector entities if state ownership falls below 51 per cent.
The finance ministry on Thursday sought to clarify that there was no distress in household savings and the data indicated that changing consumer preference for different financial products was the real reason for the change in the pattern of household savings. The clarification comes in the backdrop of Reserve Bank of India data showing that household net financial savings rate is at its lowest in decades, at 5.1 per cent of GDP in FY23 compared to 7.2 per cent of GDP in FY22. The divergence in the data for household gross financial assets and liabilities is not a cause for concern for the government, as the loans have largely been taken to buy real assets or automobiles, the finance ministry said.
Loan against gold as a product is catching on fast. Let's keep the momentum going, but aim for sustainable growth. A few bad apples should not ruin the brunch, argues Tamal Bandyopadhyay.
For India, much is at stake: Crucial energy supplies traversing the Strait of Hormuz, the fate of its 10 million citizens living and working in West Asia -- who send generous remittances home -- and its major trade links with the region.
The Indian government has maintained the interest rates on small savings schemes, including PPF and NSC, for the eighth consecutive quarter, starting April 1, 2026.
HDFC Bank reports a 12% credit growth for the March quarter, alongside the unexpected resignation of its chairman, Atanu Chakraborty, due to ethical concerns.
The Indian government has waived customs duty on critical petrochemical products until June 30 to ensure supply stability and provide relief to consumers amid disruptions caused by the crisis in West Asia.
The Indian government has reduced excise duty on petrol and diesel to mitigate the impact of rising global crude prices, triggered by geopolitical tensions in the Middle East. This move aims to provide relief to consumers and oil companies amidst volatile international oil markets.
Pakistan's skewed foreign reserves got a major boost after Saudi Arabia pledged an additional $3 billion in deposits while extending its existing $5 billion facility for a further three years.
Sitharaman took charge of the Finance Ministry on May 31, 2019, and has steered the economy through the COVID-19 pandemic and geopolitical turmoil, making India the fastest-growing major economy in the world.
Revenue collection next financial year may be affected, and, along with this, subsidies on food and fertilisers can go up if the war in West Asia drags for long, according to experts.
As the debate on revealing names of those who had stashed money abroad was hotting up, a Parliamentary panel grilled finance ministry officials on why the confidentiality clause was put in tax treaties in the first place.
Only 2.5 per cent of the equity in Jio Platforms will be offloaded through the OFS route -- meant for secondary share sale.
The Employees' Provident Fund Organisation (EPFO) has decided to maintain the interest rate on employees' provident fund (EPF) deposits at 8.25 per cent for the fiscal year 2025-26, marking the second consecutive year at this rate.
HDFC Bank has launched an independent review by external law firms following the abrupt resignation of Chairman Atanu Chakraborty, who cited 'ethical concerns and practices within the bank' as the reason for his departure.
Lenders are actively monitoring gold price volatility, prompting them to ask borrowers for additional gold collateral or partial principal repayment when loan-to-value (LTV) thresholds are breached, particularly for loans disbursed in February.
Atanu Chakraborty has resigned as chairman of HDFC Bank, citing ethical concerns, marking an unusual departure and prompting the appointment of an interim chairman.
A 25-year-old woman, allegedly a key drug trafficker in Delhi, has been detained under the PIT-NDPS Act and will be moved to a Chennai prison to disrupt her network.
Finance Minister Nirmala Sitharaman on Tuesday participated in a traditional 'halwa' ceremony, marking the final stage for the preparation of the Union Budget 2026-27, to be unveiled on February 1 in the Lok Sabha.
The Reserve Bank of India (RBI) has issued a statement assuring the public of HDFC Bank's stability and sound financial position following the resignation of its chairman, Atanu Chakraborty, citing ethical concerns.
Calling such reports baseless, Finance Minister Nirmala Sitharaman said there was no such move under consideration.
The Finance Ministry has started preparations for Budget 2014-15 by asking different central ministries and departments to come out with their estimates of receipts as well as expenditure for the next financial year.
The Financial Times, citing multiple bankers and shareholders, reports that the real tensions ran far deeper than compliance concerns.
Haryana's Chief Minister Nayab Singh Saini reviewed the progress of the Haryana AI Development Programme (HAIDP), a Rs 474-crore initiative developed with the World Bank, focusing on AI skilling, startup incubation, and ethical AI governance.
Finance Minister Nirmala Sitharaman presented her ninth consecutive Union Budget, focusing on investments and growth. The speech was marked by its business-like approach and lack of cultural references, while opposition members raised concerns about regional representation.
The Bangladesh Cricket Board (BCB) is attempting to repair strained relations with the BCCI after pulling out of the T20 World Cup in India, seeking to revive India's white-ball tour in September.
The Central Board of Indirect Taxes and Customs (CBIC) announced the implementation of the Eligible Manufacturer Importers (EMI) scheme from April 1, allowing eligible importers to defer customs duty payments.
With the Union Budget 2026, India's 74th, fast approaching, all eyes are once again on New Delhi's North Block as Finance Minister Nirmala Sitharaman is preparing to table it on February 1, 2026, marking her ninth Budget presentation in a row.
Amidst global energy market volatility driven by the West Asia crisis, Russia has proposed increasing its crude oil and natural gas supplies to India, strengthening bilateral energy ties and aiming for USD 100 billion in annual trade by 2030.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances