Monday, 24 January, 2022
TopicFinance ministry

Topic: finance ministry

Increase capital spending, Centre tells states, Sitharaman to meet state FMs next week

Efforts to ensure that states increase capital spending also come at a time when spending by the private sector has continued to be slow.

Controversial FRDI bill being ‘fine-tuned’, likely to make a comeback in 2022-23

Finance ministry in process of finalising certain provisions like the ‘bail-in’ clause, which had triggered uproar that forced the legislation to be withdrawn in 2018.

About 41,177 posts vacant at public sector banks, says Nirmala Sitharaman

In a written reply in Lok Sabha, Sitharaman also said that no post/vacancy has been abolished during the last six years in the PSBs, except one post in Punjab & Sind Bank in 2016.

Rs 2000 notes comprise 1.75% of total bank notes in circulation, Modi govt tells RS

In a written reply, MoS Finance Pankaj Chaudhary said that no fresh indent has been placed for the Rs 2000 banknote from 2018-19 onwards.

Finance Ministry releases Rs 9,871 crore of revenue deficit grant to 17 states

The grants are released as per recommendations of the 15th Finance Commission in monthly installments to meet the gap in revenue accounts of the states post devolution.

KV Subramanian steps down as Chief Economic Adviser, says he will return to academia

Krishnamurthy Subramanian, an ISB Hyderabad professor, was appointed as the chief economic adviser in December 2018. He succeeded Arvind Subramanaian.

India very close to finalising details on global minimum tax, Nirmala Sitharaman says

In July, 130 countries had agreed to an overhaul of global tax norms to ensure that multinationals pay taxes wherever they operate and at a minimum 15% rate.

India’s external debt rises 2.1% to $570 billion till March-end 2021

Reserves to external debt ratio increased to 101.2% from 85.6% during the same period, consolidating India's position as a net creditor to the world, the finance ministry said.

Ministerial panels set up to review tax slabs, GST exempt list, identify evasion sources

The 7-member panel set up by finance ministry would be headed by Karnataka CM Basavaraj Bommai, & include Bengal FM Amit Mitra, Kerala FM Balagopal, Bihar Deputy CM Tarkishore Prasad.

‘Spend more, spend fast’ — Rajnath’s direction to armed forces ahead of mid-term budget review

Over the last week, the defence ministry has inked contracts worth about Rs 30,000 crore for procurement of transport aircraft and tanks.

On Camera

YourTurn

Liberals mourning India Gate flame must also recall some dark aspects of the colonial Army

The moving of the flame seems, to some, as part of an ongoing extinguishing of the Indian Army’s heritage of secularism, decency and righteousness.

South-East Asia’s SMEs are underperforming. Their ‘digital revolution’ depends on fintech

Digitisation of South-East Asia's economy during the pandemic is uneven. The growth in digital services has favoured individual consumers, not SMEs.

Defence

File photo of Scorpene-class submarine 'INS Vela', at the Naval Dockyard in Mumbai | ANI

Kamov choppers, submarine torpedoes among deals defence ministry will review this week

Ministry is reviewing all procurement under the ‘Buy (Global)’ category, under which equipment is bought directly from foreign manufacturers, amid govt's 'Atmanirbhar' push.

Modi vs non-BJP CMs: When most popular isn’t all-powerful & why Centre-state ties will worsen

Modi’s inability to win many states, and the huge popularity his rivals enjoy there, is pushing Indian politics in a more robustly federal direction.
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