finance ministry

Union minister Arun Jaitley, who returned from the US last week after undergoing medical treatment, is likely to resume charge of the Finance Minister on Friday, official sources said.

Finance Ministry violated its own instructions in two cases about prior approval of CAG before concurring with re-appropriation orders for increasing funds under ‘Secret Service Expenditure’, an audit report tabled in Lok Sabha said

The panel, formed to review goods and services tax on the real estate sector, on Friday considered lowering GST rate on residential houses to 5% without any input tax credit, a finance ministry official said.

But this might sound funny. During the interim budget, Rs 1,000 for installation of CCTVs in trains was allocated.

The Finance Ministry has declined to share copies of three reports on the quantum of black money held by Indians inside the country and abroad, saying they were being examined by a Parliamentary panel.

Finally, the Finance Ministry has brought an end to speculations about whether the Budget will be a General Budget (Full) or an Interim Budget. It is clarified that it will be called ‘Interim Budget 2019-20’.

As Budget is round the corner, Ministry of Finance via its Twitter handle @FinMinIndia has been posting Budget related terminologies for raising awareness.

The Modi government is toying up with the idea of presenting a full budget in Parliament on February instead of the convention of only an interim budget before the elections.

In a bid to align with the best corporate practices, the finance ministry has asked the public sector banks to gradually bring down the government’s equity to 52 per cent, a top official said.

The Reserve Bank of India (RBI) has raised a red-flag on the spike in non-performing assets (NPAs) under the government’s flagship scheme to support micro enterprises in the country.