Finance Ministry News - Latest Updates & Headlines
UK Chancellor, Finance Minister Sitharaman announces USD 400 million in new trade
New Delhi, April 10: UK Chancellor Rachel Reeves and Finance Minister Nirmala Sitharaman announced USD 400 million in new trade and investment deals at the 13th UK-India Economic and Financial Dialogue in London on Thursday.
Government notifies amalgamation of Regional Rural banks on principles of 'One State One RRB'
New Delhi, April 8: The Department of Financial Services (DFS) has notified the amalgamation of 26 Regional Rural banks (RRBs) on the principles of 'One State One RRB', the Ministry of Finance said in a statement Tuesday.
Centre notifies amalgamation of 26 Regional Rural Banks
New Delhi, April 8: The Finance Ministry's Department of Financial Services has notified the amalgamation of 26 Regional Rural Banks (RRBs) on the principles of 'One State One RRB' as part of the fourth phase of the continuing exercise to improve efficiency, according to an official statement issued on Tuesday.
FM Sitharaman to visit London today for key talks on bilateral investment treaty, FTA
New Delhi, April 8: Finance Minister Nirmala Sitharaman will visit London for three days starting Tuesday to engage in high-level discussions on various economic matters, including a proposed free trade agreement (FTA) and a bilateral investment treaty (BIT) with the United Kingdom.
Govt scraps charges on updating nominee details in PPF accounts
New Delhi, April 3: Finance Minister Nirmala Sitharaman announced on Thursday that the government has issued a Gazette Notification to bar financial institutions from levying any charges for modifying or updating nominee details in PPF (Public Provident Fund) accounts.
No fee to be charged for updating nominees for PPF accounts: Finance Ministry
New Delhi April 3: The Union Government on Thursday announced that the financial or banking institutions will not charge any fee for updating nominees for Public Provident Fund or PPF accounts.
GST collections for March 2025 surge 9.9% to reach Rs 1.96 lakh crore
New Delhi, April 1: The Gross Goods and Services Tax (GST) collections for March 2025 stayed at Rs 19,56,034 crore (Rs 1.96 lakh crore), surging 9.9 per cent, according to the government data released on Tuesday.
$6.8 billion extra budget aimed at addressing 'pressing issues': South Korea
Seoul, March 31: The finance ministry here said on Monday that its proposal of a supplementary budget of 10 trillion won ($6.8 billion) aims to tackle the nation's most "pressing issues" rather than serve as an economic stimulus.
Centre's transfer of tax share to states shoots past Rs 11.8 lakh crore in April-Feb
New Delhi, March 28: The Centre has transferred Rs 11,80,532 crore transferred to the state governments as devolution of share of taxes by the government of India in the 11 months of the current financial year up to February 2025, which is Rs 1,47,099 crore higher than the previous fiscal year (2023-24), according to figures released by the Finance Ministry on Friday.
Centre to borrow Rs 8 lakh crore via bonds in April-September
New Delhi, March 27: The Finance Ministry announced on Thursday that the government will raise Rs 8 lakh crore from the bond market during the first half of of the next financial year (April-September), which is 54 per cent of the total market borrowing of Rs 14.82 lakh crore for the entire financial year announced in the Budget 2025-26.
Will help people...: Nirmala Sitharaman's humorous take on AAP's Raghav Chadha raising conditions of banks
New Delhi, March 27: Union Finance Minister Nirmala Sitharaman on Wednesday, had a humorous response to Aam Aadmi Party (AAP) Rajya Sabha MP Raghav Chadha for raising the issue of the conditions of banks in Parliament.
Centre discontinues Gold Monetisation Scheme, short-term deposits will continue
New Delhi, March 25: The government on Tuesday announced to discontinue the medium term and long term government deposit (MLTGD) components of the Gold Monetisation Scheme (GMS), effective from March 26.
Enforcement actions against online money gaming firms intensified ahead of IPL season
New Delhi, March 22: The enforcement actions against offshore online gaming entities have been intensified by the Directorate General of Goods and Services Tax Intelligence (DGGI).
Centre blocks 357 illegal offshore online money gaming platforms, 700 under scanner
New Delhi, March 22: The government on Saturday said that it has blocked 357 websites/URLs of illegal/non-compliant offshore online money gaming entities so far, and 700 such entities are under the scanner.
Pakistan gears up to legalise cryptocurrency trading
Islamabad, March 21: Bilal Bin Saqib, who has been appointed as the Chief Advisor to the Finance Minister to streamline and strategise digital asset management, has said that Pakistan will no longer sit on the sidelines and let the opportunity to attract global investment through cryptocurrency trading slide away.
MSMEs to get 60 pc credit guarantee on loans up to Rs 100 crore
New Delhi, March 18: : The Mutual Credit Guarantee Scheme for MSMEs has been launched for providing 60 per cent guarantee coverage by the National Credit Guarantee Trustee Company Limited (NCGTC) to Member Lending Institutions for credit facility up to Rs.100 crore sanctioned to eligible MSMEs for purchase of equipment and machinery, the Parliament was informed on Tuesday.
S. Korea's overseas direct investment falls for 2nd straight year in 2024
Seoul, March 14: South Korea's overseas direct investment declined for the second consecutive year in 2024 amid ongoing geopolitical uncertainties, but the pace of decline slowed compared with the previous year, the finance ministry said on Friday.
Govt seeks additional Rs 51,462 crore in supplementary demand for grants
New Delhi, March 10: Finance Minister Nirmala Sitharaman on Monday tabled the second batch of supplementary demands for grants in Parliament, seeking approval for Rs 6,78,508.10 crore in additional spending for the government during financial year 2024-25 that ends March 31 this year.
FM says GST rates to be reduced further, rationalised; Congress demands overhaul
New Delhi, March 9: Union Finance Minister Nirmala Sitharaman has said that Goods and Services Tax (GST) rates will be reduced further as the process of rationalising tax slabs is nearing completion.
GST rates to be reduced further, rationalisation on the cards: FM Sitharaman
New Delhi, March 9: Union Finance Minister Nirmala Sitharaman has said that Goods and Services Tax (GST) rates will be reduced further as the process of rationalising tax slabs is nearing completion.
GST collections surge 9.1 pc YoY to Rs 1.84 lakh crore in Feb
New Delhi, March 1: India's Goods and Services Tax (GST) collections in February grew by 9.1 per cent (year-on-year), reaching approximately Rs 1.84 lakh crore, according to official data released on Saturday.
GST collections in February soar 9.1 pc to Rs 1.84 lakh crore
New Delhi, March 1: Gross Goods and Services Tax (GST) collections for February 2025 saw a significant increase of 9.1 per cent compared to the same month last year, reaching approximately Rs 1.84 lakh crore, as per government data released on Saturday.
1,100 out of 1,200 govt schemes now under DBT, says FM Sitharaman
New Delhi, March 1: Out of the 1,200 central and state government schemes, 1,100 are now under the ambit of the Direct Benefit Transfer (DBT) system, said Union Finance Minister Nirmala Sitharaman on Saturday.
Nirmala Sitharaman to preside over as chief guest for the 49th Civil Accounts Day celebrations
New Delhi, February 27: Union Minister of Finance and Corporate Affairs Nirmala Sitharaman will preside over the celebrations for the 49th Civil Accounts Day to mark the Foundation Day of the Indian Civil Accounts Service in New Delhi on March 1, 2025, according to a Ministry of Finance release.
FM Sitharaman to preside over 49th Civil Accounts Day celebrations in New Delhi
New Delhi, Feb 27: Union Finance Minister Nirmala Sitharaman is slated to preside over the celebrations for the '49th Civil Accounts Day' in the national capital on March 1, to mark the Foundation Day of the Indian Civil Accounts Service (ICAS), it was announced on Thursday.
Operative Kisan Credit Card (KCC) amount crosses Rs10 lakh cr benefiting 7.72 cr farmers
New Delhi, February 25: The amount under operative Kisan Credit Card (KCC) accounts has more than doubled from Rs4.26 lakh crore in March 2014 to Rs10.05 lakh crore in December 2024.
Chief Economic Adviser Anantha Nageswaran's tenure extended by 2 years
New Delhi, February 20: The central government has extended the tenure of Chief Economic Adviser V Anantha Nageswaran by two years through March 31, 2027.
Govt bonds worth Rs 34,000 crore coming up for sale on Friday
New Delhi, Feb 17: The Finance Ministry on Monday announced the sale of government bonds worth Rs 34,000 crore in three lots through auctions to be conducted by the Reserve Bank of India in Mumbai on Friday (February 21).
FM Sitharaman launches Mutual Credit Guarantee Scheme for MSMEs
Mumbai, Feb 17: The Centre on Monday launched the 'Mutual Credit Guarantee Scheme for MSMEs', which was announced in the Union Budget 2024-25 to boost the micro, small, and medium enterprises.
If we borrow, we borrow to build, says FM Sitharaman
Mumbai, Feb 17: Finance Minister Nirmala Sitharaman on Monday said that Prime Minister Narendra Modi-led government's "big shift in Budget-making" is ensuring a responsible approach to handling taxpayers' money which is reflected in borrowings directed toward capital asset building.
New simpler Income Tax Bill slashes volume of Income Tax Act, 1961 by half
New Delhi, Feb 13: The Income-Tax Bill, 2025 tabled in Parliament on Thursday, marks a significant step toward simplifying the language and structure of the Income-tax Act, 1961 based on global best practices, according to a statement issued by the Finance Ministry.
FM Sitharaman tables new Income Tax bill in Lok Sabha, virtual assets like crypto defined under income from other sources
New Delhi, February 13: The government on Thursday tabled the New Income Tax Bill, 2025, which aims to simplify tax laws, modernize definitions, and provide more clarity on various tax-related matters.
UAE's Ministry of Finance organises 3 panel discussions at WGS 2025
Dubai, February 11: The UAE's Ministry of Finance (MoF) organised two high-level panel discussions on the opening day of the World Government Summit (WGS) 2025, taking place from 11th to 13th February in Dubai.
Average tax under GST dips from 15.8 % to 11.3 %: Nirmala Sitharaman in Rajya Sabha
New Delhi, February 11: Finance Minister Nirmala Sitharaman on Tuesday informed the Rajya Sabha that indirect tax under the Goods and Services Tax (GST) has significantly reduced over the years since its implementation.
RBI's gold buying is not to replace dollar for international settlements: Sitharaman in Lok Sabha
New Delhi, February 10: Finance Minister Nirmala Sitharaman on Monday clarified in the Lok Sabha that India's rising gold reserves, including those held by the Reserve Bank of India (RBI), is not intended to replace any international currency.
FM Sitharaman hopeful of introducing Income Tax Bill next week
New Delhi, Feb 8: Union Finance Minister Nirmala Sitharaman on Saturday said that she is hopeful of introducing the new Income Tax Bill in the coming week, which would go to the Parliament's Standing Committee on Finance for scrutiny.
New Income Tax Bill set to be tabled in Parliament next week
New Delhi, Feb 8: Aiming to put more money in the hands of the middle class and simplify the whole filing process, the new Income Tax Bill is set to be tabled in the Parliament next week after receiving approval from the Union Cabinet.
Public sector banks post record 31.3 pc surge in net profit in April-December
New Delhi, Feb 6: Public sector banks have shown a significant improvement in key financial parameters during the first three quarters (April-December) of the current financial year (2024-25) with a record net profit growth of 31.3 per cent year-on-year to achieve the highest ever aggregate net profit of Rs. 1,29,426 crore, the Finance Ministry said on Thursday.
Finance Ministry asks employees to strictly avoid using AI tools in office
New Delhi, February 5: The Finance Ministry has asked its employees not to use any Al tools or apps in office devices as they pose data safety risks.
Finance Ministry urges employees to avoid using ChatGPT, DeepSeek for official work
New Delhi, Feb 5: The Finance Ministry has asked its employees not to use artificial intelligence (AI) tools like ChatGPT and DeepSeek for official work.