Free Press Journal
  • Cash Crunch: Finance Ministry assures of resolving issue in three working days

    New Delhi: Minister of State for Finance Shiv Pratap Shukla on Tuesday accepted reports of an alleged cash crunch in the country and said the shortage will be resolved within three working days. Talking to ANI, Shukla said that there is an imbalance of currency available in various states at the moment, and the government and the Reserve Bank of India (RBI) are looking into the matter.

  • Government committed to faster economic growth: Minister

    New Delhi: The government is committed to build infrastructure for a faster economic growth with active participation of the private sector, Minister of State for Finance P Radhakrishnan said today.

  • Government maintains no data related to cryptocurrencies: Minister

    New Delhi: The government does not maintain any data related to virtual currencies such as Bitcoin, Minister of State for Finance Pon Radhakrishnan said today. In a written reply to the Lok Sabha, Radhakrishnan also said a committee constituted by the Department of Economic Affairs to take stock of the present status of virtual currencies in India and globally has submitted its report. The panel had asked to examine existing global regulatory and legal structures governing virtual currencies and suggest the

  • Notices issued to all those named in Panama Papers: Govt

    New Delhi: Government today said in the Lok Sabha that it has issued notices to all the people named in the Panama Papers but tax laws do not allow the proceedings to be made public till cases are filed in courts. Responding to questions on tax evasion and black money, Finance Minister Arun Jaitley said in the Panama Papers leak case, notices have been issued to all those whose names have appeared.

  • justice_bn_srikrishna

    Financial legislative reforms hit a raw nerve

    The Financial Sector Legislative Reforms Commission (FSLRC) completed its work, as scheduled, by March 2013 with Volume I the Main Report and Volume II the Draft Indian Financial Code (IFC).With four dissents and three members being unable to participate, Justice B.N.Srikrishna cobbled together some sort of majority report. Public attention was initially on the main report and only later to the IFC. The government set up a number of task forces to

  • tax

    CBDT to settle foreign funds’ claims within a month

    New Delhi: The Income Tax department has directed its officers that cases of foreign institutional investors (FIIs) seeking tax exmption under the Double Taxation Avoidance Agreements (DTAAs) with other countries must be decided within a month of claim filing. “It has been decided that in all cases of foreign institutional investors seeking treaty benefits under the provisions of respective DTAAs, decision may be taken on such claims within one month from the date such claim

  • Jayant_Sinha

    Jayant Sinha: No plans to withdraw LPG subsidy to well off people

    New Delhi: There are no plans to withdraw the facility of subsidised LPG cylinders to financially well off people, even as 1.46 lakh such consumers have voluntarily given up the subsidy, the government said today. “As on February 23, 2015, approximately 1.46 lakh consumers have voluntarily given up LPG subsidy on their domestic LPG connections,” Minister of State for Finance Jayant Sinha said in a written reply in Rajya Sabha.

  • income tax

    Income tax refunds of Rs 1.19 lakh cr pending in last 3 yrs

    New Delhi: Income tax refunds to the tune of over Rs 1.19 lakh crore is pending for the last three fiscals, starting 2012-13, Parliament was informed today. “Income-tax refunds amounting to Rs 1,19,964.13 crore relating to last three assessment years are pending as on March 5, 2015,” Minister of State for Finance Jayant Sinha said in a written reply in the Rajya Sabha. The pending amount for current fiscal so far is Rs 68,032.21 crore; Rs 43,963.42 crore in 2013-14 and Rs 7,968.51 crore

  • Jayant_Sinha

    Indian economy to be a USD 4-5 trn economy in 10-12 yrs: Jayant Sinha

    New Delhi: Stating its great time to invest in India, Minister of State for Finance Jayant Sinha today said the Indian economy has potential to become a USD 4-5 trillion economy in the next 10-12 years. “You might not find a better opportunity to create
    wealth. It’s great time to invest in India…We are going to take India’s USD 2 trillion economy to USD 4-5 trillion economy in the next 10-12 years,” Sinha said at an event organised by the Indian Private and