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Ministry of Finance News

05 Oct 2024

Business Idea For Women: Get Up To Rs 5 Crore Funding From Government- Details

Department for Promotion of Industry and Internal Trade has created the Startup India Seed Fund Scheme (SISFS) with an outlay of Rs 945 Crore to provide financial assistance to startups.

Ministry of Finance

04 Jul 2024

Finance Ministry Announces Repayment Plan For '8.40% Govt Security 2024'

To facilitate the payment, the original subscriber or any subsequent holders of these Government Securities must provide the relevant bank account information well in advance.

18 Jan 2024

Banks Closed Or Open On January 22 - Monday? Finance Ministry Says This

There has been a suspense over whether the banks will be open or closed on January 22 which is Monday.

Small savings schemes

29 Sep 2023

Centre Announces Interest Rate For Small Savings Schemes For October Quarter

This decision will directly impact millions of citizens across India who have invested in various small savings schemes. Some popular schemes include the Senior Citizen Savings Scheme, Monthly Income Account Scheme, National Savings Certificate, Public Provident Fund Scheme, Kisan Vikas Patra, Sukanya Samriddhi Account Scheme, among others.

26 May 2023

Centre To Issue Rs 75 Coin To Mark Inauguration Of New Parliament Building

The coin of Rs 75 denomination shall be coined at the Mint for issue under the authority of the Central Government on the occasion of Inauguration of New Parliament Building, said the Finance Ministry.

Reserve Bank of India

14 Nov 2022

Are you also spotting fewer Rs 2000 notes in market? Know reason behind it

In 2018, there were 3,362 million pieces of Rs 2000 denomination banknotes in circulation. In 2020, the Rs 2000 notes in circulation came down to 2,739.8 million pieces The Rs 2000 currency notes in circulation declined from 3,362 million pieces in 2018 to 2,142 million pieces in 2022.

Ministry of Finance

09 Oct 2022

Now you can register your grievances related to pension with THIS helpline no.

Toll-free numbers and voicemail services have been launched for Pensioners. Earlier, Pensioners need to visit centres to register their concerns. The service will ensure quick disposal of grievances.

senior citizens savings scheme

30 Sep 2022

Senior Citizens Savings Scheme: Centre makes 'BIG' clarification for investors

The SCSS account can be opened with a minimum deposit of Rs 1,000. Senior Citizens’ Savings Scheme (SCSS) comes with a maximum deposit amount of Rs 15 lakhs The investors of the SCSS can also claim a tax benefit Under Section 80C of the Income Tax Act, 1961.

Ministry of Finance

03 Mar 2022

Huawei accused of tax evasion by Indian government: Report

The company reportedly showed expenses of Rs 4.8 crore that the firm failed to justify. The government allegations follow raids by its income tax authorities last month at Huawei's office premises.

GST collections

01 Sep 2021

GST collection tops Rs 1 lakh crore for 2nd straight month in August

The mop up in August is, however, lower than Rs 1.16 lakh crore collected in July 2021. The revenues for the month of August 2021 are 30 per cent higher than the GST revenues in the same month last year. In August 2020, Goods and Services Tax (GST) collection was Rs 86,449 crore.

Bharatiya Pensioners Manch

29 Aug 2021

Exempt pension from income tax: Pensioner body to PM Modi

The body said, "We are sorry to say that nothing has been done so far in this regard." The body also referred to an apex court order where the Supreme Court had held that pension is valuable right vested in a government servant. Bharatiya Pensioners Manch has urged Prime Minister Narendra Modi to exempt pension from income tax.

Ministry of Finance

14 Jul 2021

Import duty, GST to be waived for world’s most expensive drug for 2-year-old

A two-year-old is set to get world's most expensive drug Finance ministry has decided to waive off import duty

10 Jul 2021

'CoWIN freely available to all countries,' says FM Nirmala Sitharaman

Finance Minister Nirmala Sitharaman has offered to share the CoWIN platform with other nations for free She said that humanitarian needs outweigh commercial benefits She was participating on the second day of the ongoing G20 Finance Ministers and Central Bank Governors Meeting

FM Nirmala Sitharaman

28 Jun 2021

Atmanirbhar Bharat Rozgar Yojna to be extended till March 31: FM Sitharaman

About 21 lakh new recruits are benefitted so far from ARBY With an outlay of ₹22,810 crore, workers recruited from October 1, 2020 to June 30, 2021, were covered.

02 May 2021

Good news for businesses, taxpayers! Various GST relief measures announced

The Ministry of Finance announced a reduction in the rate of interest. The ministry has also announced a late fee waiver. Extension of several due dates has also been announced.

16 Apr 2021

Covid-19 scare! Will banks reduce working hours?

Bank unions are now showing their concerns towards bank employees. Bank unions are requesting safety measures for workers. UFBU also requested to allow bank employees to work from home.

Ministry of Finance

14 Oct 2020

Finance Ministry clarifies on misinterpretation of LTC stimulus, its benefits

"Everybody pays GST on their consumption unless they choose to buy without bills in black, a practice the Government obviously does not condone and which hopeful the ET does not want to encourage. Incidentally, the entitlements under the scheme have been worked out at full cost (i.e. including the GST element in fares)," stated the Finance Ministry.

Income Tax raids

17 Sep 2020

Jammu and Kashmir: Income Tax dept carries out raids on prominent hotelier

The search also revealed that the assessee’s children are studying in USA on whom expenditure of approximately Rs 25 lakh per annum is being incurred The expenditure on account of education in USA prima-facie appears to be unexplained/ undisclosed. Further, the assessee is also running a B-Ed College as a Trust along with his mother The Trust is not registered and no return is being filed for the Trust though it has substantial taxable income

Ministry of Finance

06 Sep 2020

No ban on recruitment for government jobs, Centre clarifies after row over Fin

The Ministry of Finance on Saturday tweeted that a circular issued by Department of Expenditure to cut official spending due to the economic crisis will not affect or curtail recruitment for government jobs. The clarification was issued by the Centre hours after Congress MP Rahul Gandhi targeted the Centre over the circular issued on Friday. The circular banned some non-developmental expenditures to "ensure availability of adequate resources for meeting the needs of critical priority schemes".

Gold bond scheme

13 Apr 2020

Govt to issue Sovereign Gold Bond 2020-21 from April 2020 to September 2020

The Reserve Bank of India will issue it on behalf of the Government of India.

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