Tag Archives: Ministry

Delays in debt recoveries irk Bombay HC; asks Finance Ministry to enhance Debt Recovery Tribunal

The Bench was irked noticing a near 20-year delay by DRT. Omkar Gokhale The Bombay High Court (HC) recently observed that it is useless to say the economy will grow when funds of banks and financial institutions are stuck due to delays in resolution of cases in forums due to lack of staff and infrastructure. Noting this, the HC directed ... Read More »

Finance Ministry plans tougher norms for high-value jewellery transactions: Report

The finance ministry is considering tightening norms for high-value jewellery transactions, Business Standard reported. Linking the transactions with Aadhaar or another ID proof has been proposed, the report said. Officials prefer Aadhaar over PAN as ID proof, sources told the paper. Another suggestion is to bring gem and jewellery dealers under the purview of the Prevention of Money Laundering Act (PMLA), ... Read More »

Finance ministry turns down MoRTH’s demand for Rs 43,000 crore hike in outlay

Of the total budgetary support for the current fiscal, MoRTH has already spent Rs. 51,798 crore or 62% by September end, as per the Controller General of Accounts data. Despite the apparent thrust being given to infrastructure spending, the finance ministry has rejected the road transport and highway ministry’s demand for hiking the budget outlay for it by Rs. 43,000 ... Read More »

Finance ministry suggests closure of BSNL, MTNL: Report

The finance ministry has recommended the closure of struggling telecom companies BSNL and MTNL, Financial Express has reported. The cost of closing the two state-run companies would not be as high as Rs 95,000 crore, a number put out by the Department of Telecommunications while asking for a bailout package, the report said. The sum of Rs 95,000 crore factored  in a ... Read More »

Finance ministry sets up task force to identify infrastructure projects worth ₹100 trillion

The government has set up a task force to identify technically and economically viable infrastructure projects that can be kick started in the current financial year and can be included in the ₹100 trillion plan for the sector in the next five years. The finance ministry on Saturday said the task force will draw up plan for the ‘national infrastructure pipeline’ from 2019-20 ... Read More »

Gag on media freedom: Journalists condemn finance ministry restricting entry of journalists into North Block

After the finance ministry put in place restrictions on media from entering the North Block, a tug of war has ensued between Finance Minister Nirmala Sitharaman and reporters. According to the new rules, the finance ministry issued a notice which read, “Entry of media persons, including those holding a PIB accredited card will be on the basis of prior appointment.” ... Read More »

Budget 2019: Halwa ceremony held at finance ministry, printing of budget documents starts

Union Finance Minister Nirmala Sitharaman serving halwa to her colleague Anurag Thakur. (Photo: Twitter/Finance Ministry) Preparations for the Union Budget 2019-20 are on full swing with the Union finance ministry organising the traditional ‘halwa ceremony’ today. Every year a halwa ceremony is organised at the finance ministry to mark the beginning of printing of documents related to the Union budget. ... Read More »

Finance Ministry invites fresh applications for the post of RBI deputy governor

MUMBAI: The Finance Ministry on Friday sought fresh applications from eligible candidates for the post of deputy governor which remains vacant after SS Mundra retired in July last year after a three-year term. The latest notice released in National dailies, says that the applicants should have an understanding of bankruptcy, restructuring, turn around and overseeing risk management functions in a large financial ... 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 »

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 »