Finance Ministry News
Mint Explainer | Why the 16th Finance Commission’s report matters for states?
The 16th Finance Commission will recommend reallocation of tax revenues among states until FY31. Why are some states advocating for increased shares?
6 min read12 Nov 2025GIFT City funds want tax at source removed to bring home HNI money going to Dubai, Singapore
The GIFT City regulator has channeled a demand from fund companies to the Union finance ministry that investments from Indian investors be exempt from tax collected at source (TCS). Fund managers argue that removing TCS would simplify compliance and attract more investments to GIFT City.
3 min read21 Oct 2025JSW Steel eyes strong H2 as domestic demand and policy support bolster outlook
On Friday, India’s largest steelmaker by domestic capacity reported a more than threefold jump in consolidated net profit for the September quarter, powered by higher volumes and lower input costs that offset weaker metal prices.
4 min read17 Oct 2025Finance ministry orders probe after trading firm threatens to stop operations
The social media posts by the firm, Wintrack Inc., which deals in electronic items and accessories, triggered a social media discussion on alleged corruption in customs clearance.
2 min read2 Oct 2025FIU issues notices to 25 offshore crypto firms over PMLA non-compliance
FIU-India has issued notices to 25 offshore VDA firms for failing to comply with anti-money laundering laws, warning of penalties, audits, and potential takedown of illegal platforms.
1 min read2 Oct 2025From schemes to strategy: Government readies mid-term review amid global headwinds
A bevy of central schemes and programmes, all meant to enhance welfare and usher in prosperity. But are they all working well? Do some schemes need more money, and do funds need to be reallocated in others? The Union finance ministry is set to find out, in an exercise starting next month.
4 min read10 Sep 2025Ahead of GST Council meeting, beverage companies, distributors appeal for lower taxation on carbonated drinks
Currently, a tax of 40% (28% GST plus 12% compensation cess) is levied on aerated drinks. Industry bodies have requested a GST rate reduction to 18% and for such products to be declassified as ‘sin or demerit’ goods.
3 min read2 Sep 2025Immediate impact of US tariff seen limited, but lag effect needs action: FinMin
The finance ministry has warned that while the immediate impact of US tariffs on Indian exports seems limited, the lagged effects may hinder growth and call for action. Ongoing reforms aim to bolster economic resilience and minimize the trade disruption, the latest monthly review said.
3 min read27 Aug 2025India needs to grow 8% yearly amid geopolitical uncertainties to reach target, says Finance Ministry
The Finance Minister has noted that India's economy must grow by 8 per cent annually over the next decade, despite geopolitical uncertainties, to align with the government's 2047 developed economy or Viksit Bharat goal.
1 min read19 Aug 2025India eyes two GST slabs with special rates for a ‘few’ items | Finance Ministry's ‘move towards simple tax’ explained
The central government is preparing to move towards a simplified tax regime. The Ministry of Finance has said the aim is to have two GST slabs with special rates for a few items. Here are the details.
2 min read15 Aug 2025Popular Topics
Budget
The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared