Finance ministry

DoPT saved 65% in departmental expenditure this April-June quarter | India News

NEW DELHI: The department of personnel and training (DoPT), which comes under the direct charge of Prime Minister Narendra Modi, saved 65% in departmental expenditure during April-June quarter of 2021 as compared to the corresponding quarter of 2020. DoPT managed savings of 100% on foreign travel, 86% on administrative expenses, 79% on publications and 60% …

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Covid situation in India vastly improved, hope countries would ease travel restrictions: MEA | India News

NEW DELHI: The Ministry of External Affairs Thursday said it hopes that with the Covid-19 situation in India vastly improved, foreign nations would ease travel restrictions from India, and asserted that it is taking up the issue with partners, including in the Gulf. MEA Spokesperson Arindam Bagchi said the government is actively trying to help …

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DPE back with FinMin for better coordination, effective asset mgt

The government has carved out the department of public enterprises (DPE) from the ministry of heavy industries and put it under the umbrella of the finance ministry to monitor performance of state-run firms, monetise their assets, and direct their procurements policies to boost local industries. DPE has come full circle now. It came into existence …

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GST collections fell below ₹1 lakh crore after 8 months, but rose 2% Y-o-Y

The Goods and Services Tax (GST) collection in June, which reflects actual business transactions in the previous month, fell below ₹1 lakh crore for the first time after eight months due to the second wave of pandemic, but posted about 2% year-on-year growth at ₹92,849 crore. “The GST collection for June 2021 is related to …

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GST Day: 4 years since rollout of tax reform, India to prize timely returns

India marks the fourth anniversary of the Goods and Services Tax (GST) on Thursday. The date of July 1 has been designated by the central government as ‘GST Day’, observed every year to mark the roll-out of the historic tax reform. This year on GST day, the Union ministry of finance will issue certificates of …

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Centre following capex-driven plan to boost economy: Krishnamurthy Subramanian

The government is following a capex-driven strategy to boost economic activity in the country, the chief economic adviser in the finance ministry, Krishnamurthy Subramanian, said on Tuesday. Gross fixed capital formation (GFCF), which represents investment demand in the economy, increased almost 30% and as a result of this, the ratio of GFCF to gross domestic …

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Health, tourism focus of fresh relief booster

The government on Monday announced a ₹6.28 lakh crore economic stimulus and relief package focusing on enhancing healthcare facilities, particularly those for children, providing inexpensive credit to small firms, including those in the tourism, agriculture, and exports sectors, and incentivising foreign tourists by temporarily waiving visa fees. This is the fourth such package being announced …

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India to push for climate resilient farm practices as part of economic revival, support agriculture marketing in north-east | India News

NEW DELHI: The Centre will revive the North Eastern Regional Agricultural Marketing Corporation (NERAMAC) to help farmers in eight northeastern states get remunerative prices of agriculture-horticulture produce, promote climate-resilient and sustainable farming across India, and provide Rs 14,775 crore for additional fertilizer subsidy as part of the stimulus package this financial year. Though the announcement …

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Dearness allowance for central govt employees again from July 1? Finance ministry tweets

The Union finance ministry has said it has not issued any order regarding the payment of increments in dearness allowance for central government employees and dearness relief for its pensioners. The finance ministry said a document claiming the resumption of dearness allowance to central government employees and dearness relief to pensioners from July this year …

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