Friday, 30 September, 2022
TopicMinistry of Finance

Topic: Ministry of Finance

Tame subsidies, hike fees for govt services — Centre’s tips to states to slash deficit

At a meeting with chief secretaries of states, Union Finance Secretary T.V. Somanathan made a presentation that highlighted a worrying rise in debt in some states.

India doesn’t understand crypto enough to pass regulatory law. Here’s all you need to know

India’s initial policy response was to ban cryptoassets. Now it appears to be moving towards regulating them. But there is no clarity on the contours of the proposed law.

Modi govt expects better finances in second half of FY22 thanks to momentum of recovery

Despite the harsh economic impact of the pandemic, there has been a definite uptick in the tax collections, a half-yearly review by the finance ministry says.

Roti vs Malabar parotta, papad vs fryum – bizarre GST slabs for similar goods spark 4,600 cases

Since GST rollout in July 2017, many items are being taxed at varying rates despite their strong likeness. Experts say this is likely to continue unless slabs are reduced.

Indian finance ministry officer appointed to UN tax committee among 24 other global experts

Finance ministry joint secretary Rasmi R Das will be serving in the UN committee that guides countries towards forward-looking tax policies adapted to globalised trade.

Modi govt brings Department of Public Enterprises under Finance Ministry

With the addition, this will be the sixth department under the Finance Ministry. The rejig comes ahead of Cabinet expansion slated later in the day.

Wouldn’t have spoken different language if I were in finance ministry — NK Singh after Budget

N.K. Singh, head of the 15th Finance Commission, says Modi govt has been reasonable & fair on panel suggestions, given the fiscal pressures.

Why Modi govt has slashed 99.9% budget of agency meant to fund higher education institutes

Formed 4 yrs ago, Higher Education Financing Agency was meant to grant interest-free loans to institutions. But its failure prompted Modi govt to slash funding.

TN gets central govt nod to borrow 9,600 cr to meet GST shortfall, has picked Option 1

A total of 21 states and two UTs have so far agreed to the first of the two options offered by central govt to make up for its inability to pay GST compensation.

Modi govt’s reform of public banks a still-born effort, say Raghuram Rajan & Viral Acharya

Loan losses from the pandemic may be too huge for the government to pay, says a new paper authored by the former RBI governor and former RBI deputy governor.

On Camera

YourTurn

File photo of man walking past RBI logo in its Mumbai headquarters | Reuters

India’s current account deficit widens to 2.8% of GDP in Q1, highest in nearly 4 years

RBI data shows that India's CAD was around $23.90 billion in the first quarter of FY-22/23. Following the rising prices of commodities globally, the trade deficit also has been affected.

Defence

Pinaka is a multiple rocket launcher produced in India and developed by the DRDO for the Army | Twitter/@DRDO_India

As tensions rise with Azerbaijan, Armenia buys Pinaka rockets & ammunition from India

The government-to-government contract, valued at about Rs 2,000 cr, is learnt to have been signed earlier this month. Supplies to be fast-tracked according to Armenia's requirement.
Illustration by Soham Sen | ThePrint

AAP’s filling a big vacuum in Indian politics. Question is how long it can sustain without ideology

If you find admiration for AAP qualified, if not muted among many of the Modi-BJP’s critics, it is because they question it for its lack of ideological clarity. Especially on secularism.
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