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.
India's like-for-like gross Goods and Services Tax (GST) revenue growth slowed to a five-year low of 5.57 per cent in FY26, reaching Rs 23.32 trillion, primarily driven by a significant surge in import revenues.
The global financial crisis has empowered fiscal conservatives in India.
Following the swearing-in of C Joseph Vijay as Tamil Nadu's chief minister, the new cabinet has pledged a 'white paper' audit of all state departments and a 'zero-interference' policy in administration, signalling a significant shift in governance.
rediffGURU T S Khurana answers readers' personal income tax queries
DEA official writes to DIPP suggesting that govt needs to understand what has been left out, and why, in the revised application of the retailer.
The department believes dividend from CPSUs is a return on investment made by the government.
Exit polls show the Bharatiya Janata Party-led National Democratic Alliance is set to form the government after votes are counted on Friday.
Interview with the Governor of Reserve Bank of India.
V D Satheesan was sworn in as Kerala's Chief Minister, with Governor Rajendra Vishwanath Arlekar administering the oath of office. The swearing-in ceremony was attended by prominent political figures, including Congress leaders and Chief Ministers of Congress-ruled states.
Under FAME-II, automakers provided subsidies to electric vehicle (EV) customers at the time of purchase, with the understanding that the government would reimburse the firms later.
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.
AM Shahjahan and Vanni Arasu from IUML and VCK respectively were sworn in as ministers in Tamil Nadu, increasing the number of allies in the TVK government. This marks the first time representatives from both parties have been inducted into the state cabinet, signifying a shift in Tamil Nadu's coalition dynamics.
The conflict may disrupt Budget 2026-2027 projections, squeezing revenues and raising subsidies, prompting fiscal adjustments and potential reforms, echoing lessons from the Covid-era shock, points out A K Bhattacharya.
Tarun Bajaj, an old hand at the finance ministry, on Friday assumed charge as the economic affairs secretary. He comes back to North Block at a time when the economy is facing headwinds due to the outbreak of Covid-19 pandemic.
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.
The stress of dealing with the crisis, often with potentially conflicting objectives in front of them, appears to have brought the differences between the finance ministry and the RBI back to the surface.
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.
Central bank unhappy with North Block's EMI diktat to banks, asks for more provisioning.
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 truck operators, who are on strike since Saturday to protest a new service tax, are likely to meet finance ministry officials on Thursday in a bid to end their agitation that has disrupted movement of goods and pushed up prices.\n\n\n\n
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.
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 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.
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.
Himanta Biswa Sarma's return as Assam's Chief Minister underscores the BJP's increasing dominance in the northeast, marked by both development and divisive policies.
The BRICS foreign ministers' meeting in New Delhi concluded without a joint statement due to disagreements over the West Asia conflict, with Iran blaming the UAE for the lack of consensus. India, as the host, issued a chair's statement highlighting the differing views.
The Finance Ministry is evaluating options of conducting a special audit of scam-tainted IT firm Satyam Computer's accounts to ascertain the company's tax liability.
The government has extended the tenure of the 16th Finance Commission by one month till November 30. The 16th Finance Commission was constituted by the government on December 31, 2023, with former Niti Aayog vice-chairman Arvind Panagariya as its Chairman.
The controversial note, made by the finance ministry and sent to the Prime Minister's office on March 25, 2011, involved two Cabinet ministers -- finance minister Pranab Mukherjee and home minister P Chidambaram, who was the finance minister at the time of the 2G scam in 2007-08.
The Indian government has launched the Urban Challenge Fund (UCF) with a total outlay of Rs 1 lakh crore, aiming to leverage private and market finance for urban infrastructure projects by providing state support in capacity building and credit guarantees.
Eases regulatory hurdles for Bharti-MTN deal.
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.
Both Houses of Parliament were adjourned sine die, concluding a Budget session marked by the passage of key legislations and the defeat of a Constitution amendment bill on women's reservation. The session saw frequent opposition protests and discussions on various issues, including the West Asia conflict.
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.
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'In all these years of rupee depreciation, of rising oil prices, of inflation caused by import dependence, not one leader had the courage to look the people in the eye and say: Please do this for your country.'
Only 2.5 per cent of the equity in Jio Platforms will be offloaded through the OFS route -- meant for secondary share sale.
