UPS is applicable to the central government employees who are covered under the NPS and who choose this option under the NPS, which came into effect on January 1, 2004
Merchant Discount Rate is the cost paid by a merchant to a bank for accepting payment from their customers via digital means. Finance Ministry’s clarification comes following reports that the government is planning to impose MDR on large-ticket UPI transactions
As per an advertisement notification issued by the IRDAI, the applicants should preferably have at least 30 years of relevant work experience, should have worked as secretary to the Government of India or its equivalent level or State government or other institutions
Gross GST collection rose 10 per cent to over Rs 1.62 lakh crore in September, crossing the Rs 1.6 lakh crore mark for the fourth time during current financial year.
The savings figure for 2021-22 was also scaled down to 7.2 per cent of GDP from 7.6 per cent of GDP (and as much as 8.3 per cent of GDP, as per RBI's first estimates released in September 2022).
The Budget for the current fiscal had projected a nominal growth rate of 10.5 per cent, while the fiscal deficit was pegged at 5.9 per cent of the gross domestic product (GDP).
The Finance Ministry has initiated the process to prepare the interim Budget for 2024-25 by inviting inputs on expenditure from different ministries and departments.
The review highlighted the government's proactive steps to curb food inflation, anticipating relief as fresh stock arrives to alleviate price pressures.
