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The government said ECLGS 5.0 has issued over 4.11 lakh guarantees worth ₹1.55 lakh crore since its launch, with MSMEs receiving 98 per cent of guarantees by number. The scheme aims to boost liquidity for businesses affected by West Asia-related disruptions
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The Finance Ministry has notified the Rules of Origin for the India-UK Comprehensive Economic and Trade Agreement, clearing the way for its July 15 implementation. The framework offers duty-free access for 99% of Indian exports while preventing third-country routing
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The Centre reappointed Ravi Agrawal as CBDT Chairman on a six-month contract from July 1 to December 31, 2026. The move ensures continuity in direct tax administration as the Income Tax Department records strong growth in direct tax collections
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The Finance Ministry's Expenditure Finance Committee approved a Rs 1.25 lakh crore outlay for India Semiconductor Mission 2.0. The proposal, awaiting Union Cabinet approval, aims to boost domestic chip manufacturing, strengthen supply chains and meet 75 per cent of semiconductor demand by 2030
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The Finance Ministry has extended the deadline for filing appeals before the GST Appellate Tribunal to July 31, citing technical issues and heavy rush on the portal. Nearly 30,000 appeals were filed in the past 15 days.
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The government has increased windfall gains tax on diesel and aviation turbine fuel exports while keeping petrol export duty unchanged. The revised levies, effective Tuesday, aim to ensure domestic fuel availability amid global crude price volatility and geopolitical tensions in West Asia
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The government has rejected reports claiming the Finance Ministry's secured printing press would print NEET-UG re-examination papers. PIB Fact Check termed the claim fake and also flagged an AI-manipulated video falsely attributed to External Affairs Minister S Jaishankar
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The government has rejected media claims that the Finance Ministry’s secure printing press will handle NEET-UG re-exam question papers. Press Information Bureau clarified the reports are false and urged the public to rely only on official verified information
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India halved windfall tax on petrol exports to ₹1.5/litre, cut diesel levy to ₹13.5/litre and ATF to ₹9.5/litre from June 1. Domestic duty unchanged; measures aim to ensure fuel availability amid crude above $100 and West Asia conflict
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The Indian government clarified that it has no plans to introduce a gold monetization scheme for temple trusts or religious institutions. The Finance Ministry debunked rumors claiming temple gold structures would be classified as strategic reserves, urging the public to ignore unverified information
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India increased gold and silver import duties to 15 per cent to curb rising imports and protect foreign exchange reserves amid the West Asia crisis. The move follows PM Narendra Modi’s austerity appeal as soaring oil costs, a weak rupee, and inflation intensify economic pressure on the country
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India remains relatively insulated from the West Asia conflict due to strong domestic demand, policy buffers, and public investment, the Finance Ministry said, while warning of inflation, fiscal pressures, and wider trade deficits, with risks hinging on energy supply disruptions and global uncertainties
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Nepal has decided to shift government employee salaries from monthly to fortnightly payments, aiming to boost spending and economic circulation. The move, approved at ministerial level, may require legal changes under existing civil service laws before implementation
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The Finance Ministry is considering raising foreign direct investment in public sector banks to 49 per cent to strengthen their capital base. Financial Services Secretary M Nagaraju said consultations are under way, while also highlighting plans for IDBI Bank sale and the need for big lenders
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The Finance Ministry has introduced a new framework to standardise recruitment result timelines for public sector banks. Officer-level results will be declared first, followed by clerical exams, reducing attrition, enhancing transparency, and improving workforce planning across SBI, NBs, and RRBs
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According to RBI data, Rs 2,000 denomination banknotes worth Rs 5,817 crore remain in circulation. Since their withdrawal announcement in May 2023, 98.37 per cent of the notes have been returned. The Rs 2,000 notes continue to be legal tender, the RBI clarified.
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Gross GST collection rose 4.6 per cent year-on-year to Rs 1.96 lakh crore in October, driven by festive season demand despite rate cuts on 375 items. Domestic GST revenue grew 2 per cent, while imports contributed a 13 per cent surge in tax inflow
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The Finance Ministry has urged central government employees to opt for the Unified Pension Scheme (UPS) before September 30, 2025. The Ministry highlighted benefits, tax incentives, and a one-time UPS-to-NPS switch facility for timely processing of requests
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A senior Finance Ministry official was killed and his wife seriously injured after their motorcycle was hit by a BMW in Delhi. The accused couple allegedly insisted the victims be taken to a hospital 22 km away, delaying treatment and prompting negligence allegations
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Deputy Secretary Navjot Singh of the Finance Ministry died after a BMW hit his motorcycle near Delhi Cantt; his wife was critically injured. Police filed FIR under BNS sections, probe underway.
