Ministry Of Finance
Govt fixes calculation ceiling for non-productivity linked bonus at ₹7,000
Employees of Central para-military forces and armed forces would be eligible for this ad-hoc bonusThe Cabinet had on Wednesday decided to give ₹3,737 crore bonus to 30.67 lakh central government employees to encourage spending during the festive season and add to demand in the economy
1 min read22 Oct 2020NTPC gets Niti Aayog, DIPAM nod to set up renewable energy biz arm
State-owned power giant NTPC said it has received the approval of Niti Aayog and Department of Investment and Public Asset Management to set up a wholly-owned company for its renewable energy business
1 min read21 Aug 2020News report suggesting merger of CBDT and CBIC factually incorrect: FinMin
Govt has no proposal to merge two Boards created under the Central Boards of Revenue Act, 1963, says FinMin
1 min read6 Jul 2020India’s current account to turn surplus after 12 years
The last time India’s current account turned positive was in the March quarter of 2006-07 at $4.2 billion
1 min read22 Jun 2020Finance ministry not in favour of raising GST rates on non essentials
Under the GST (Compensation to States) Act, 2017, protected revenues of the state governments is calculated on the basis of a 14% annual growth rate with FY16 as the base year
1 min read29 May 2020Govt liabilities at ₹93.89 lakh crore at Dec-end, up 3.2% over Q2
The liabilities, including those under the public account, had stood at ₹91,01,484 crore at the end of September 2019Public debt accounted for 90.4% of total outstanding liabilities at the end of December 2019
1 min read18 Mar 2020Mandatory for govt depts to make 20% handloom purchase from KVIC, registered weavers
In order to implement this change, the Ministry of Finance has amended Rule 153 of General Financial Rules (GFR) 2017In the Union Budget presented to Parliament on 1 Feb, FM had increased the allocation for 'khadi, village and coir industries' to ₹1,525.94 crore for the next fiscal
1 min read1 Mar 2020TV Somanathan appointed expenditure secretary
In March 2015, Somanathan was appointed joint secretary in the Prime Minister's OfficeEarlier, Somanathan was commercial taxes commissioner and principal secretary in Tamil Nadu government
1 min read13 Dec 2019India likely to overshoot fertiliser subsidy bill by $4.2 billion for FY18-19
A rise in fertiliser prices overseas and a fall in the rupee currency also made imported fertilisers more expensive
2 min read14 Jan 2019Electric mobility to promote manufacturing, generate jobs, says finance minister Arun Jaitley
Electric mobility is an attractive, sustainable and profitable solution to mitigate adverse impact of climate change and the threat to public health caused especially by vehicular emission, Arun Jaitley said after induction of 15 electric vehicles for usage by officers of the Finance Ministry
2 min read9 Jan 2019Wait for it…
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