Finance Ministry
Big Four blow: India eases norms for domestic consultancy firms in govt contracts, gives them level playing field
The new norms could change how government consultancy contracts are awarded, with implications for domestic firms and global giants Deloitte, PricewaterhouseCoopers, EY and KPMG.
4 min read11 Aug 2026Has EPFO wage ceiling been raised to ₹25,000? Here's what report says about the monthly contribution limit
Finance Ministry has approved an increase in EPF wage ceiling to ₹25,000 monthly from current ₹15,000, as per a Moneycontrol report. If approved this would expand coverage to more salaried workers.
2 min read3 Aug 20268th Pay Commission not required to brief Centre during deliberations, Finance Ministry tells Rajya Sabha
The Finance Ministry has clarified in Parliament that the 8th Pay Commission is not required to share regular progress updates with the Centre. The Commission has autonomy, may determine its own procedures under the ToR, and will submit its final recommendations after 18 months, the minister said.
4 min read29 Jul 2026ITR Filing 2026: CBDT upgrades income tax portal before July 31 deadline, Key changes explained
The Finance Ministry has told Parliament that the Income Tax Department has strengthened the e-filing portal to handle peak traffic during the return filing season, with infrastructure capable of processing up to 1 crore ITRs a day.
2 min read21 Jul 2026Finance ministry pushes for quarterly labour dialogue across public sector banks to counter rising workplace tensions
The finance ministry directs all public sector banks to conduct quarterly meetings with employee unions to improve dialogue and resolve workplace issues, amidst rising employee stress. However, major unions oppose the directive, fearing it may lead to disputes regarding union recognition.
4 min read16 Jul 2026Finance ministry calls lenders for meeting on 13 July to review, step up foreign currency mobilization
The government wants to boost the inflow of funds through foreign currency non-resident (bank) deposits, overseas foreign currency borrowings and external commercial borrowings.
3 min read10 Jul 2026State-owned banks asked to build buffers as stress rises in retail, MSME loans
The directive marks the most significant effort since the covid-19 pandemic to strengthen banks’ precautionary buffers, when lenders were encouraged to keep a close watch on restructured loans and other vulnerable segments amid concerns over a potential surge in bad loans
3 min read4 Jun 2026GST collections rise 3.2% to ₹1.94 trillion in May
Excluding the impact of a one-time ₹10,000-crore GST payment made by a telecom operator for spectrum allocation in May 2025, gross collections recorded an adjusted growth of 9% during May
4 min read1 Jun 2026Only 8% of Atal Pension Yojana’s subscribers opt for ₹5,000 monthly slab; 87% choose minimum sum of ₹1,000
The Atal Pension Yojana, launched in 2015, has over 90 million enrolments, with significant participation from younger age groups. The persistency rate stood at 50.1% as of 31 March.
2 min read20 May 2026Finance ministry asks banks, insurance companies for cost cutting, move to EVs
The finance ministry has directed all public sector banks, insurers, and financial institutions to switch to electric vehicles, minimise foreign travel by top executives, and move all meetings to video conferencing with immediate effect.
2 min read18 May 2026Wait for it…
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