FINANCE MINISTRY

  • Bullet News: Catch the day's top stories January 14, 2015

    Bullet News is CNN-IBN's non-stop prime time bulletin where we bring to you the day's top stories from around the world. Be it politics, sports, entertainment or business, catch it here, only in 30 minutes. ...
  • India @ 9 with Zakka Jacob January 14, 2015

    Catch the day's top stories with Zakka Jacob on India @ 9. ...
  • News 360: SC pulls up Centre over Ganga clean up January 14, 2015

    The Supreme Court on Wednesday pulled up the Centre on the issue of cleaning of the Ganges and asked for a status report on setting up of sewage treatment plants within six months. ...
  • A rate cut seems to be on the anvil soon: Finance Ministry January 14, 2015

    The Finance Ministry has said that there is no reason why a rate cut cannot happen when RBI reviews policy on February 3. They say slower than expected pace of inflation has given RBI enough elbow room. ...
  • 'MakeInIndia' Twitter goof-up creates flutter on auto duty cut January 6, 2015

    New Delhi: Government's 'MakeInIndia' Twitter handle on Tuesday created a flutter on the micro-blogging site by erroneously stating that excise duty on cars and two-wheelers has been cut, but corrected the mistake later. The @makeinindia_, a Twitter handle managed by Ministry of Commerce and Industry, this afternoon posted that duties...
  • Finance Ministry launches e-book to improve governance December 25, 2014

    New Delhi: Finance Ministry on Thursday issued an e-book containing important decisions and initiatives with a view to improving governance and bringing government closer to the public. "MoF (Ministry of Finance) hopes this will be useful to the citizens and an important step in bringing...
  • India slashes health budget, already one of the world's lowest December 24, 2014

    New Delhi: The government has ordered a cut of nearly 20 per cent in its 2014-15 healthcare budget due to fiscal strains, putting at risk key disease control initiatives in a country whose public spending on health is already among the lowest in the world. Two health ministry officials said that...
  • Goods and Services Tax Bill introduced in Lok Sabha after nod by states, TMC sounds caution December 19, 2014

    New Delhi: Aimed at creating a single tax for goods and services across the country, the Centre on Friday introduced the long-pending Constitution Amendment Goods and Services Tax (GST) Bill in the Lok Sabha for rollout of the new regime from April 2016 subsuming various levies like entry tax and...
  • Sale of 5 per cent SAIL share gets government over Rs 1700 crore December 5, 2014

    New Delhi: The Union government has garnered Rs 1,715 crore from sale of its 5 per cent stake in steel giant SAIL. The government's 5 per cent share has been sold at a floor price of Rs 83 per share. The sale of 5 peer cent stake in SAIL is only...
  • Finance Minister for more global cooperation to check tax evasion, smuggling December 4, 2014

    New Delhi: Calling upon revenue intelligence agencies to enhance cooperation with their global counterparts to check tax evasion and smuggling, Finance Minister Arun Jaitley on Thursday said free trade should also mean fair trade. Although the fiscal incentives for financial malpractices have come down over the years, the Minister said revenue...
  • Finance Minister Arun Jaitley against burdening salaried, middle class November 22, 2014

    New Delhi: Finance Minister Arun Jaitley on Saturday said that he does not favour burdening the salaried and middle-class with more taxes but would go after the evaders in widening the net. In fact, he would encourage more money being put in the pockets of tax payers that will lead to...
  • Jayant Sinha takes charge as MoS in Finance Ministry November 10, 2014

    New Delhi: IIT-Delhi and Harvard Business School alumnus Jayant Sinha on Monday took charge as Minister of State in the Finance Ministry. Sinha was briefed by senior officials in the Ministry soon after taking charge. He assumes office at a time when the Ministry is preparing the Budget for 2015-16. The...
  • Finance Ministry restructures indirect taxes formations October 15, 2014

    Delhi: The Finance Ministry on Wednesday restructure indirect taxes formations with a view to provide better tax payer services and deepen the tax base. "The restructuring of formations is aimed creating larger number of compact commissionerates, by reorganising the existing commissionerates. This shall provide better tax payer services and deepen the...
  • Government clears 25 FDI proposals worth Rs 1,546 crore October 14, 2014

    New Delhi: The Finance Ministry has approved 25 FDI proposals, including six of single-brand retail trade, envisaging a total investment of Rs 1,546.12 crore, and referred a Rs 1,800-crore pharma proposal to the Cabinet for consideration. The proposals have been cleared by the Finance Ministry...
  • 'Need to move away from aggressive tax planning & assessment' October 9, 2014

    New Delhi: There is a need to move away from aggressive tax planning and such tax assessment undertaken in certain situations and find a resolution to this issue, Revenue Secretary Shaktikanta Das said on Thursday. "I think, we should move away from this whole business of...
  • Finance Ministry, RBI to decide on monetary policy framework by December end October 7, 2014

    New Delhi: The Finance Ministry and the RBI will finalise a new monetary policy framework by December end under which the central bank will pursue the retail inflation target to be decided by the government. According to official sources, the internal work for the new...
  • Government looking at merging FMC with Sebi October 5, 2014

    New Delhi: The government is considering a proposal to merge the Forward Markets Commission (FMC) with capital market regulator Sebi to ensure better monitoring of the commodity futures market. "One of the options being considered by the government is merging FMC with Sebi," said a...
  • No decision on making CAG multi-member body: Finance Ministry October 5, 2014

    New Delhi: No decision has been taken on the suggestion of the UPA government-appointed Shunglu Committee to make CAG a multi-member body, the Finance Ministry has said. The high-level committee, headed by former CAG VK Shunglu, had in March 2011 written to former Prime Minister Manmohan Singh suggesting changes in the...
  • India Post suited to be payment bank: Financial Ministry September 29, 2014

    Mumbai: Lack of credit disbursing experience makes the postal department with its vast network of offices around the country better suited to be run as a payment bank and not as a full-fledged universal bank, a top Finance Ministry official said on Monday. "The Department of Posts may be considered...
  • One can open Jan Dhan account by just submitting 2 photos: Finance Ministry September 22, 2014

    New Delhi: Finance Ministry on Monday said people who do not have officially valid documents or Aadhaar numbers can open Jan Dhan bank accounts by submitting two copies of signed photographs at a bank branch. "RBI has issued guidelines dated August 26, 2014, where people who do not have officially valid...
  • Finance Minister Arun Jaitley to launch single window portal for taxpayers September 21, 2014

    New Delhi: An updated version of the income tax department website that will be a single window for all online services offered by the department will be launched on Monday by Finance Minister Arun Jaitley. The website will be more userfriendly and robust, so that it can handle many hits at...
  • India's GDP to rebound to over 7 pc in 23 years: Arvind Mayaram September 18, 2014

    Cairns: India is following economic growth inducing policies and is confident that the GDP will rebound to over 7 per cent in 23 years, Finance Secretary Arvind Mayaram said on Thursday while emphasising that business confidence is back. Making an intervention during the G20 Deputies Meeting, Mayaram said that the Indian...
  • Government to soon double banks' commission for DBT scheme to 2 pc September 15, 2014

    Mumbai: Finance Ministry is in the process of finalising the commission to banks at 2 per cent of the quantum of funds they transfer to individual beneficiaries under the government's direct benefit transfer (DBT) scheme. "The issue of commission is in the final stages and the order will be issued for...
  • Arun Jaitley out of hospital, to skip G20 meet in Australia September 10, 2014

    New Delhi: Finance Minister Arun Jaitley was released from hospital on Wednesday after a longerthanexpected stay for treatment, and will miss a meeting of finance ministers from the Group of 20 nations in Australia next week. Jaitley was admitted to a private hospital in New Delhi on September 1 for planned...
  • Steel Ministry asks Finance Ministry to roll back duty of coking coal imports September 9, 2014

    New Delhi: The Steel and Mines Ministry has sought rollback of 2.5 per cent duty on coking coal imports, imposed in the last Budget, to unburden domestic steel makers. Finance Minister Arun Jaitley in Budget 201415 had imposed 2.5 per cent duty on coking coal imports, which the steel industry...
  • No facilitation fee to agents for air travel by government officials September 8, 2014

    New Delhi: The Finance Ministry has barred PSU travel agents, including IRCTC and Balmer Lawrie, from charging facilitation fees from government officials on their domestic and international air travels. The government had on October 10, 2013, allowed three authorised travel agents IRCTC, Balmer Lawrie and Ashok Travels and Tours ...
  • Government to increase dearness allowance to 107 per cent, up from 100 per cent August 31, 2014

    New Delhi: Government is likely to approve a hike in dearness allowance (DA) to 107 per cent from the existing 100 per cent, benefiting around 30 lakh Centre's employees and its 50 lakh pensioners including dependants. "The average rate of retail inflation for industrial workers from July 1, 2013 to...
  • Inflation in check, growth and investment picking up, assures Arun Jaitley August 30, 2014

    New Delhi: Finance Minister Arun Jaitley on Saturday presented the Finance Ministry's report card for the last hundred days since the NDA government came to power, as well as the recent initiatives taken by the Finance Ministry. Jaitley assured that inflation is in check, growth and investment is steadily picking up...
  • Jan Dhan camps by banks on all Saturdays, 1.84 crore accounts opened August 29, 2014

    New Delhi: Over 1.84 crore bank accounts have been opened under the Jan Dhan scheme and banks will organise camps from 8 am to 8 pm on all Saturdays to reach out to unbanked households, the government said on Friday. "It has been decided that henceforth, the banks will be holding...
  • Female bank staffers may soon get transfers of their choice August 17, 2014

    New Delhi: Female employees of public sector banks will soon be entitled to a major benefit of getting transfers of their choice. The Finance Ministry has asked the banks to formulate womenfriendly transfer policies so that they can get transfers at places where their husbands are working or parents are living. The...