finance ministry

The Finance Ministry has asked CPSEs identified for strategic sale to immediately prepare a list of assets and initiate dialogue with potential investors and bidders so that their non-core assets can be monetised quickly.

The Finance Ministry is in the process of shortlisting profit making subsidiaries of CPSEs having a minimum stipulated net-worth, which can be listed on the stock exchanges, an official said.

For the first time in India, the government is all set to release Rs 20 coins. The Finance Ministry on Wednesday announced a new Rs 20 coin which will be shaped like a 12-edged polygon.

The Finance Ministry may explore a clearly-defined broad framework to ensure that cuts in GST rates benefit consumers. The fresh initiative is being considered in the wake of rising complaints against companies that are found tweaking rules to avoid lowering prices.

There records a drop in February GST collections. It dropped to Rs 97,247 crore in February from Rs 1.02 lakh crore in the previous month, the Finance Ministry said.

The finance ministry expects three to four more lenders to come out of weak bank list of the Reserve Bank in the next six to eight months on account of improvement in financial health amid capital infusion and falling bad loans.

A secret study commissioned by the Finance Ministry in 2014 says 90 to 97 per cent of the unaccounted wealth or black money was lying inside India and not abroad as claimed all these years and the most of it was in the form of cash.

The Finance Ministry on Wednesday announced to pump in Rs 48,239 crore in 12 public sector banks (PSBs) in this fiscal to help them maintain regulatory capital requirements and finance growth plans.

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