Finance

Before choosing schemes, decide how much money you need for each goal and the time horizon

I’m not a regular investor. I have invested about Rs1 lakh in ICICI Prudential Value Discovery Fund, series 14; Rs20,000 each in Aditya Birla Sunlife Equity Fund, Axis Long Term Equity Fund, and SBI Magnum Multicap Fund; and about Rs10,000 in Franklin India High Growth Companies Fund. Please guide me on starting an SIP of about Rs40,000 per month. I ... Read More »

Hostel mess facility to attract 5% GST: Finance ministry

The CBEC has issued the clarification in view of queries regarding the tax liability and the rate of GST on services provided by a college hostel mess. Photo: Mint New Delhi: Mess facility provided to students and staff will attract 5% GST irrespective of whether it is provided by educational institution or outside contractor, the finance ministry said on Wednesday. The ... Read More »

Plan to construct finance dept. office buildings in all districts: Yanamala

Deputy Chief Minister N. Chinarajappa, Finance Minister Yanamala Ramakrishnudu, with Collector Kartikeya Misra in Kakinada on Sunday.   | Photo Credit: S_RAMBABU ‘Efforts are on to recruit employees in a phased manner’ The State government is planning to undertake construction of office buildings to the Finance Department in all the districts, besides ensuring permanent buildings to house the sub-treasury offices, according ... Read More »

Nitin Patel given charge of finance ministry, assumes office

AHMEDABAD: Gujarat Deputy Chief Minister Nitin Patel, who was unhappy over not getting portfolios of his choice in the new cabinet, took charge today after he was given the finance portfolio, following BJP president Amit Shah’s intervention. “BJP president Amit Shah called up in the morning and assured me that I will be given a portfolio which befits my stature as the ... Read More »

NHM employees strike: Health dept submits regularisation proposal to Finance dept

Don’t know about any such proposal: Drabu Srinagar: The J&K Health Department has submitted phase-wise regularisation of nearly ten thousand National Health Mission employees to the Finance department for approval. Minister of State for Health and Medical Education, Asiea Naqash told Kashmir Reader that the Department has agreed on various demands of National Health Mission (NHM) employees including their regularisation ... Read More »

Himachal Pradesh portfolio allocation: CM Thakur keeps Home, Finance

Himachal Pradesh Chief Minister Jai Ram Thakur kept key Home and Finance departments with him after the portfolios were alloted today. Besides Home and Finance, the chief minister will also look after the General Administration, Planning and Personnel department and all other departments not alloted to any minister. Mohinder Singh Thakur has been allocated Irrigation and Public Health, Horticulture and ... Read More »

UK mortgage approvals hit 15-month low in November – UK Finance

LONDON (Reuters) – British banks approved the fewest mortgages in 15 months in November, when the Bank of England raised interest rates for the first time in more than a decade, industry figures showed on Thursday. FILE PHOTO – A row of houses are seen in London, Britain June 3, 2015. REUTERS/Suzanne Plunkett Banks approved 39,507 mortgages for house purchase ... Read More »

The Time of Finance

THE GLOBAL FINANCIAL CRISIS has done next to nothing to change the convictions of mainstream economists. But the widespread lament over their willful blindness seems misplaced: there was never a realistic possibility that the economics profession would voluntarily break with the methodological sophistication and statistical formalism at the heart of its identity. Far more frustrating than the resilience of orthodox ... Read More »

Finance Ministry warns about cryptocurrencies

The government has joined the Reserve Bank of India in cautioning potential customers from investing in cryptocurrencies such as Bitcoin, likening them to Ponzi schemes. “There has been a phenomenal increase in recent times in the price of virtual ‘currencies’ (VCs) including Bitcoin, in India and globally,” the Finance Ministry said in a statement on Friday. “VCs don’t have any ... Read More »

Cabinet approves new finance panel

The Cabinet on Wednesday set the ball rolling for the constitution of the Fifteenth Finance Commission, which will decide the devolution formula for revenue-sharing between the Centre and States from the year 2020 till 2025. The Commission, whose members and terms of reference will be notified soon, will have to grapple with the significant changes in the taxation framework, such ... Read More »