Free Press Journal
  • Government to focus on PSU mergers to meet divestment target

    New Delhi: Given the recent decline in equity indices, the government may look at merger of public sector units to meet its divestment target for 2018-19, a senior finance ministry official said. “The market condition is not conducive for coming out with initial public offering and offer for sale of PSUs. We are witnessing lack of liquidity in the system which is impacting the equity market also,” the official said.

  • OMCs to complete 10 billion dollar overseas borrowings in 1 year

    New Delhi: A day after relaxing overseas borrowing norms for oil companies, the government on Thursday said state-owned fuel retailers will have to complete $10 billion external commercial borrowing (ECBs) within a year and they would not be required to hedge the exposure.

  • Government to ensure liquidity for IL&FS to prevent defaults: Finance Ministry

    New Delhi: The government Monday said it stands fully committed to ensuring that needed liquidity is arranged for the debt-trapped IL&FS to prevent any more defaults in payment of loans by the non-banking financial company. On a day when the Mumbai-bench of NCLT allowed the government to take over the board of IL&FS, the Finance Ministry in a statement said the move was essential to restore confidence in the financial market and hoped

  • Finance Ministry pegs dollar value at Rs 73.65 for computing import duty

    New Delhi: The Finance Ministry Thursday pegged the exchange rate for dollar at Rs 73.65 for calculation of import duty with effect from September 21, as against Rs 72.55 a fortnight ago.  Similarly, in case of Pound Sterling, the value has been fixed at Rs 97.40 as compared to Rs 94.30 earlier.

  • maharashtra, maharashtra traders, apmc, professional tax, GST, APMC market, Vashi

    Finance Ministry crafting strategy to boost GST revenues, engaging with states to identify issues

    New Delhi: Alarmed by a nearly four-fold rise in GST compensation to states for June-July, the Finance Ministry is crafting a strategy to shore up tax revenues and engaging with states to identify issues hindering their collections. Finance Secretary Hasmukh Adhia has started meeting with GST officers, both from central and state tax departments, in the state capitals to understand issues plaguing the GST collections. There has been a spike in the bi-monthly

  • CIC seeks details of action taken against wilful defaulters

    New Delhi : The action taken against wilful defaulters of banks loans of above Rs 50 crore should be made public by the Finance Ministry, Ministry for Statistics and Program Implementation and RBI, the CIC has said.

  • Don’t get too worried over rupee depreciation, says Sanyal

    Bengaluru : Principal Economic Adviser to the Finance Ministry Sanjeev Sanyal on Wednesday sought to allay concerns over the falling rupee against the US dollar, saying India should not get too swayed by a single bilateral exchange rate.

  • Air India hoping to get Rs 11K-cr bailout package

    Mumbai : The Civil Aviation Ministry is in discussions with the Finance Ministry for a Rs 11,000-crore bailout package for ailing Air India, sources said.

  • GST mop-up rises to Rs 96,483 cr in July

    New Delhi : The Goods and Service Tax (GST) collections rose to Rs 96,483 crore in July, from Rs 95,610 crore in the previous month, on improved compliance post implementation of the e-way bill.

  • finmin, finance ministry, capital influsion, business, PNB, PSU Banks, lenders

    Finance Ministry approves Rs 11,336 crore capital infusion in 5 PSU Banks

    New Delhi: The finance ministry today approved infusion of Rs 11,336 crore in five state-owned lenders including PNB, Corporation Bank and Andhra Bank to help them meet regulatory capital requirement, sources said. This is the first ever capital infusion in the current fiscal and the remaining amount of Rs 53,664 crore would be disbursed during the course of the year. As per the plan, the sources said, Punjab National Bank (PNB), hit


    New Delhi : The Finance Ministry on Saturday advertised that it is looking for a new Chief Economic Adviser (CEA) in lieu of the resignation of Dr Arvind Subramanian to return to the United States.

  • GST Council looks to set up appellate authority

    New Delhi : The revenue department is considering setting up of a centralised appellate authority to deal with the problem created by contradictory verdicts passed by the Authority of Advance Rulings (AAR) in different states, a top official said on Tuesday.

  • Arvind Subramanian, CEA Arvind Subramanian

    CEA Arvind Subramanian quits over ‘pressing family commitments’, to return to US: Arun Jaitley announces

    New Delhi: Union Minister Arun Jaitley said today that Chief Economic Advisor Arvind Subramanian will be leaving the finance ministry because of “pressing family commitments” and will return to the US. Subramanian was appointed as CEA to the finance ministry on October 16, 2014, for a period of three years. In 2017 his term was extended for a year.

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