Tag: Ministry of Finance

Only 42% of Nirbhaya Fund released for projects since 2015

Named “Nirbhaya Fund”, the non-lapsable corpus fund parked with the Department of Economic Affairs, Ministry of Finance, were for the implementation of initiatives aimed at enhancing the safety and security for women in the country.

April 17, 2019

Finance Ministry spent Rs 1,157 crore extra in 2017-18 without obtaining prior approval: CAG

Excess expenditure aggregating Rs 1,156.80 crore was incurred during 2017-18 without obtaining prior approval of Parliament, the CAG report “Financial Audit” of the Accounts of the Union Government said.

February 12, 2019

Rs 94726 crore collected as GST revenue in December 2018

After regular settlement, the Centre and the states have earned a total revenue of Rs. 43,851 crore for CGST and Rs 46,252 crore for the SGST in the month of December 2018

January 1, 2019

GST evasion of Rs 12,766 cr detected in April-November

The measures taken by the government to check GST evasion are intelligence-based enforcement, eWay bill squads, systematic analysis of data and setting up of Directorate General (Analytics and Risk Management), the Ministry said.

December 18, 2018

It takes two to tango

The uncharacteristic spat between the mandarins of North Block in the Ministry of Finance (MoF) on the one hand and the mainly Congress-led but joined by impartial academics spewing their acidulous onslaught on behalf of the country’s central bank in defense of the latter’s functional autonomy on the other, did eventually turn out to be …

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November 28, 2018

Atal Pension Yojana subscription crosses 1.24 crore: Government

As of October 27, 2018, the number of APY subscribers from Uttar Pradesh stood at 17.90 lakh, Bihar 11.16 lakh, undivided Andhra Pradesh 11.28 lakh, Maharashtra 10 lakh and Karnataka 9.15 lakh.

November 2, 2018

To hike rate or not? RBI panel to brainstorm for 3 days

The seven-quarter high growth rate of 7.7 per cent in January-March 2018 and forecast of a normal monsoon has reduced the clamour for a cut in the benchmark lending rate (repo) by the Reserve Bank of India (RBI).

June 3, 2018

GST: Exceeding Rs 1-lakh crore in April is landmark achievement, says Jaitley

While Goods and Services Tax (GST) collection in entire 2017-18 stood Rs 7.41 lakh crore, in March the figure was Rs 89,264 crore.

May 1, 2018

Gross GST revenue collection over 1 lakh crore in April

As per the statement, the buoyancy in tax collection under the GST "reflects the upswing in the economy and better compliance".

May 1, 2018

Mamata Banerjee smells ‘scam’ in MoF’s response to NPA question

The question asked by Ritabrata Banerjee was whether Rs 2.4 lakh crore amount of Public Sector banks (PSBs) loans of crony corporate have been written off by the present Union Government till September 2017.

April 3, 2018

FDI proposals worth Rs 532 cr approved

The central government on Thursday said that it has approved two foreign direct investment (FDI) proposals worth Rs 532 crore, including one from Metaffinity. “During the month of December 2017, the Department of Economic Affairs (DEA), Ministry of Finance has disposed of two FDI proposals involving foreign investment of Rs 532 crore,” an official statement …

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January 5, 2018

GST collection more than Rs.83k cr till Nov 27

India’s Goods and Services Tax (GST) collections received in November totalled Rs.83,346 crore till November 27, the government announced on Monday. According to Ministry of Finance, a total of 95.9 lakh tax payers have been registered under the GST so far, out of which 15.1 lakh are “composition dealers” who are required to file returns …

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November 27, 2017

Actively working towards clean political funding, says Arun Jaitley

Finance Minister Arun Jaitley on Saturday said the government was actively working towards providing a system of clean political funding. "When we deal with the subject of how the political system will be funded, we hope through cleaner money in future. We are actively working on this," he said here at the Delhi Economics Conclave …

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July 22, 2017

GST win-win deal for all, says Arun Jaitley

Finance Minister Arun Jaitley on Wednesday described the Goods and Services Tax (GST) as a "win- win" deal for all as it will expand the tax net, end "inspector raj" and bring down prices of goods. Pitching the GST as a measure beneficial for the country at a meeting of the BJP parliamentary party attended …

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July 19, 2017

Government refuses new opportunity to exchange demonetised notes

The Central government on Monday refused to give another opportunity to exchange demonetised currency notes of Rs 500 and 1,000 to those who couldn't do it by the deadline of December 31, 2016, saying this would defeat the very objective of eliminating black money. In an affidavit filed in the Supreme Court, the affidavit, filed …

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July 17, 2017

GST Council may go for more rate revisions

The Goods and Services Tax (GST) Council on Monday evening will hold a meeting through video-conferencing to discuss some rate revisions "which need urgent attention". The meeting, called at a short notice, would be chaired by Finance Minister Arun Jaitley through video-conferencing as state Finance Ministers were not in the national capital. Jaitley had fixed …

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July 17, 2017

Govt asks businesses to register under GST by July 30

The government on Saturday asked traders to get registered under the Goods and Services Tax (GST) regime by July 30. However, traders with turnover of below Rs.20 lakh or those engaged exclusively in the supply of exempted goods or services need not register under the new tax regime which has kicked in from July 1. …

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July 15, 2017