Between April-June 2016-17, the additional excise duty mop up on these two products stood at Rs 17,692 crore.
RBI holds 557.75 tonnes of gold as part of foreign exchange reserves.
Attributing the slowdown to the Reserve Bank's tight monetary policy and global problems, the government on Tuesday informed Parliament that economic growth in 2011-12 will moderate to 7.5 per cent, from 8.5 per cent in the previous fiscal.
The controversial proposal to amend the Income Tax Act with retrospective effect to bring into tax net Vodafone-type deals is expected to yield to the exchequer Rs 35,000 to Rs 40,000 crore, the government said.
Rupee has depreciated against major international currencies since July 2011.
Cash-strapped Kingfisher Airlines owed over Rs 5,600 crore (Rs 56 billion) to public sector banks as on February this year.
Adequate currency in circulation, temporary shortage to be tackled quickly, says FM
The government on Tuesday said it has received information related to black money from Mauritius and was examining it for appropriate action.
India and Switzerland, on August 30, 2010, signed a protocol amending the Double Taxation Avoidance Agreement.
The Finance Ministry on Friday said that no bugging device was found within its premises, including the office of Finance Minister Pranab Mukherjee, and the suspicious adhesive discovered was chewing gum-like material.
The government on Friday said that it is concerned about frequent hike in prices of petroleum products but does not plan to reduce taxes on oil goods.
The Indian government will present the annual budget for 2016-17 on February 29.
The government said the Reserve Bank has decided to reduce the validity of cheques and bank drafts from the present six months to three months beginning next fiscal.
The CBDT has begun the process of matching the deposits in accounts opened under the Pradhan Mantri Jan-Dhan Yojana (PMJDY), or Jan-Dhan accounts, with the profile of the depositors.
The BJP is banking on development. The opposition is raking up caste identities and the dangers of hyper nationalism.
Government is mulling amendment and strengthening of the Act to combat terror financing and other suspect transactions.
The list of negatives on Kingfisher Airlines is getting longer.
Public sector banks were allotted 11,63,30,639 shares in the company on conversion on March 31, 2011.
A court has stayed an order to Reserve Bank of India to publicly name top 100 loan defaulters.
1.46 lakh such consumers have voluntarily given up the subsidy.
SBI has already exceeded the exposure limit of Rs 1,436.1 crore (Rs 14.36 billion) in Kingfisher.
As bank loans to MFIs are mostly unsecured, the Indian Banks Association had requested RBI in December to relax its restructuring guidelines for the MFI sector.
The gold import stood at nearly 851 tonnes in 2009-10 fiscal, the Minister of State for Finance Namo Narain Meena said in a written reply in the Lok Sabha.
The total exposure of top 50 defaulters of PSBs as on December 2015 was Rs 1,21,832 crore.
RBI has posted detailed instruction on its website clearly showing the eligibility conditions and other necessary documents required to be tendered for exchange of old currency notes
The govt has framed a five-pronged strategy to fight the menace of tax evasion.
On Aug 11, the Chinese central bank surprised markets by devaluing the yuan by nearly 2 per cent.
"If there is proper debate in parliament, followed by a vote, then even without the Congress' support, we have a chance to pass it," says Union Minister of State for Finance, Jayant Sinha.
While bifurcation is a painful issue for many, one must understand it is the way forward, Union Minister of State for Finance J D Seelam tells Rediff.com's Vicky Nanjappa.
The government has no proposal 'at this stage' to reduce taxes on petro products even as it earned Rs 1.02 lakh crore (Rs 1.02 trillion) by way of taxes on these items in 2010-11, Parliament was informed on Tuesday.
The minister said RBI maintains a list of non-suit filed borrowers of banks and financial institutions, while CIBIL had a database on suit-filed accounts of Rs 1 crore (Rs 10 million) and above.
The Reserve Bank of India collects credit information from banks under the CRILC reporting system for borrowers with the credit exposure greater than Rs 5 crore.
It will be on field trial basis at five locations in the country.
Gross Domestic Product expanded by 8.5 per cent in 2010-11.
The government on Tuesday said the slowdown in the Europe and US may have contributed to the moderation in India's economic growth rate to 7.7 per cent during the first quarter of the current fiscal.
It's time for colours, lights and celebrations - Diwali is here! In these photos, see celebrations from Gujarat to London to Colombo.
Rs 7,024 cr transferred under LPG cash subsidy scheme.
The government is keeping a "close watch" on the developments relating to the Tata-Mistry case, but does not want to "interfere" at present as it was an "internal matter" of a private group, Ministry of State for Corporate Affairs Arjun Ram Meghwal has said.
Europe is the second largest market for Indian IT-BPM industry
A day after Prime Minister Narendra Modi carried out the first revamping of his ministry since he assumed power in May, the new ministers took charge of their portfolios on Monday.
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