Finance Ministry | The Asian Age

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The Civil Aviation Ministry is in discussions with the Finance Ministry for a Rs 11,000 crore bailout package for ailing Air India, sources said.

Civil Aviation Ministry mulls Rs 11,000 crore bailout package for Air India

The discussions come against the backdrop of a failed effort to privatise the loss-making airline.

07 Aug 2018 7:44 PM

Union Minister Arun Jaitley, who had undergone a kidney transplant surgery on May 14, is likely to resume office of Finance Minister in the third week of August, sources said.

Arun Jaitley to resume office in 3rd week of August

Jaitley, according to sources, is recovering well and will be able to assume the responsibilities of the Finance Ministry.

07 Aug 2018 5:02 PM

PMJJBY customers would be allowed to pay premium on pro-rata basis every quarter.

Govt to revamp flagship insurance schemes for poor

Objective is to make policies affordable to poorest of the poor.

31 Jul 2018 9:05 AM

Replying to an RTI query, it said the study reports of the NIPFP, NCAER and NIFM were received by the government on December 30, 2013, July 18, 2014, and August 21, 2014, respectively. (Photo: PTI)

Finance ministry refuses to share black money reports in reply to RTI query

In reply to an RTI application, finance ministry said the disclosure of information would cause a breach of privilege of the Parliament.

23 Jul 2018 5:11 PM

The government will urge about one crore MSMEs registered under the GST Network to obtain Udyog Aadhaar number to avail benefits of various government schemes, a top official said. (Photo: AFP)

Govt to ask MSMEs under GSTN to obtain Udyog Aadhaar

The finance ministry is likely to send an email to the micro, small and medium enterprises soon.

22 Jul 2018 12:43 PM

Government announced Rs 2.11 lakh crore capital infusion programme in October last year. (Photo: PTI)

Rs 11,336 crore to be infused in 5 PSU banks

Out of Rs 1.35 lakh crore, the govt already infused about Rs 71,000 crore through recap bonds in banks.

18 Jul 2018 9:05 AM

The Sensex on Tuesday rebounded by over 196 points to close at 36,519.96 as oil, metal and PSU stocks rallied after a sharp drop in global crude oil prices.

Sensex recovers 196 points on sharp fall in crude prices

Sentiment got a boost after crude oil prices in global markets dropped by over 4 per cent.

17 Jul 2018 4:17 PM

The finance ministry is likely to infuse about Rs 10,000 crore within a few days in some state-owned lenders including PNB, Corporation Bank and Central Bank of India, to help them meet regulatory capital requirement, sources said.

Finance ministry likely to infuse about Rs 10,000 cr in PSU banks

The sources said that capital infusion may take place this week itself or latest by next week.

17 Jul 2018 3:16 PM

Prime Minister Narendra Modi (Photo: PTI/File)

Exodus of advisers lead to protectionism

A spokesman for the finance ministry declined comment. The prime minister’s office did not reply to requests for comment.

13 Jul 2018 12:57 AM

Government has planned to increase the taxes on petrol and diesel cars to release the financial burden on it for incentivising electric vehicle buyers.

Govt to increase tax on petrol, diesel cars to promote electric vehicles

An increase in taxes on petrol and diesel vehicles will boost the promotion of electric vehicles.

12 Jul 2018 1:24 PM

According to a March 2018 report of the Small Industries Development Bank of India (SIDBI), the NPA ratio for PMMY loans of up to Rs 10 lakh.

Banks fear Mudra loans sans collateral may become NPAs

The government has already disbursed around Rs 5,54,703 till date to almost 12 crore consumers.

12 Jul 2018 9:03 AM

Data onshoring move could cost them millions of dollars and set a precedent for other major govts to implement similar rules.

India proposes easing local data storage rules for foreign payment firms

RBI would compel global payment firms to store customer data only locally.

12 Jul 2018 8:55 AM

Congress leader Ahmed Patel (Photo: PTI)

Why qualifications for CEA ‘diluted’, Ahmed Patel asks Centre

In strongly worded tweet Congress president Rahul Gandhi had attacked the government over the resignation of Mr Subramanian.

12 Jul 2018 5:35 AM

IDBI Bank officers have opposed the proposed 51 per cent acquisition of the bank's stake by LIC, saying this is a clear move to privatise it, bypassing the assurance given to Parliament.

IDBI Bank employees oppose proposed take over by LIC

This is a clear move to privatise it, bypassing the assurance given to Parliament.

03 Jul 2018 5:27 PM

The first year of GST has been an example to the world of the readiness of the taxpayers to be a partner in the unprecedented reform in Indian taxation, the finance ministry said on Saturday.

July 1 to be celebrated as ‘GST Day' to mark its first anniversary

Goods and Services Tax was rolled out in the intervening night of June 30 and July 1, last year.

30 Jun 2018 2:32 PM

CAIT, in a letter written to the ministry on Thursday, has suggested that instead of monthly returns, quarterly returns should be prescribed on Form 3B to make return filing simpler.

Traders urge finance ministry to review GST-related issues

It has called for one registration number for traders to be allowed across India.

28 Jun 2018 6:21 PM

The government on Friday sounded evasive about the media reports that it was planning to ask LIC to take a controlling stake in the crippled IDBI Bank, saying the boards of the respective entities will take a call on the matter.

IDBI-LIC stake deal: Fin Min official says boards to take a call

There have been reports that having failed to get a buyer for its stake in IDBI Bank, the govt might ask LIC.

25 Jun 2018 4:38 PM

Left with few options to tackle the crude price hike impact on the economy, the finance ministry may ask the political leadership to persuade the 21 BJP-ruled states to take the initiative for bringing petroleum products under GST.

Fin Min wants BJP-ruled states to take lead in bringing petrol under GST

Putting petrol and diesel under the GST is seen as a permanent solution to recurrent price hike.

19 Jun 2018 11:37 AM

Union Minister Arun Jaitley on Monday urged citizens to pay their due share of taxes "honestly" to reduce dependence on oil as a revenue source, and virtually ruled out any cut in excise duty on petrol and diesel saying it could prove to be counter-productive. (Photo: PTI)

Jaitley hints at no cut in excise on oil, appeals to pay taxes honestly

The level of non-oil taxes to GDP at 9.8 per cent in 2017-18 is the highest since 2007-08.

18 Jun 2018 4:09 PM

The government on Wednesday gave approval to HDFC Bank to raise Rs 24,000 crore in foreign direct investment (FDI) to fund its business growth.

Cabinet clears HDFC Bank's proposal to raise Rs 24,000 cr via FDI

With the raising of this capital, FDI in the bank would hit the regulatory ceiling of 74 per cent.

13 Jun 2018 7:19 PM

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Anita Katyal