"finance-ministry"

With numbers rising from 6.48 crore in FY20 to 8.56 crore in FY25 officials attribute the surge to digitisation, policy reforms, and compliance measures

Nearly all Rs 2,000 banknotes have returned to the RBI, with only Rs 6,017 crore—just 1.69 per cent of the total value—still in circulation as of July 31, Finance Minister Pankaj Chaudhary informed Parliament. The withdrawal began in May 2023

The government has passed four key amendments to the Income Tax Act, effective FY26. These cover sovereign fund exemptions, block assessment reforms, correction of a standard deduction error, and tax parity for the Unified Pension Scheme with the National Pension System

The government has raised over Rs 35,000 crore in tax and penalty demands under the Black Money Act since 2015, but recovered only Rs 338 crore. No country-specific data is maintained, and 163 prosecutions have been filed till March 2025

Public sector banks will recruit around 50,000 personnel in FY25, including 21,000 officers. SBI alone plans 20,000 hires. Meanwhile, the Finance Ministry urged PSBs to prepare subsidiaries for future IPOs by enhancing governance and operational efficiency for better monetisation

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

Move comes at a time when countries like Australia and Italy have shielded their official systems from Chinese AI platform

The fraudsters have used different e-mail addresses for sending the aforementioned fake e-mails with attachments.

New Tax Regime (Section 115BAC(1A)) Introduced in Finance Act 2023, Contrasts with Old Regime sans Exemptions

The Income Tax Department Gathers Financial Transaction Data from Various Sources.

The meeting was attended by Chairpersons of Debt Recovery Appellate Tribunals (DRATs) and Presiding Officers of Debt Recovery Tribunals (DRTs).

Payment for the Bonds can be made via cash (up to Rs 20,000), demand draft, cheque, or electronic banking.

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 government has exempted export of 'Bangalore Rose' onion from duty, subject to certain conditions

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.

Finance ministry on Tuesday said price pressure on food items is expected to be transitory, with tomato prices seeing a decline