FINANCE MINISTRY

Centre Releases Over Rs 1.78 Lakh Crore to States Ahead of Festive Season

10 Oct 2024

The central government has released more than Rs 1.78 lakh crore to states as part of its tax devolution, according to an announcement made by the Finance Ministry on Thursday. This release, which comes ahead of the festive season, is significantly higher than the usual monthly devolution of Rs 89,086.50...

Congress Targets PM Modi Over Nitin Gadkari’s Letter On GST

31 Jul 2024

The Congress party has launched an attack on the Bharatiya Janata Party (BJP) following union minister Nitin Gadkari's letter to finance minister Nirmala Sitharaman, which they claim signals internal dissent and rumblings against Prime Minister Narendra Modi. Gadkari’s Concerns on GST In his letter, Gadkari urged Sitharaman to withdraw the...

Nirmala Sitharaman’s Budget 2024: Angel Tax Scrapped to Support Indian Startups

23 Jul 2024

On July 23, Finance Minister Nirmala Sitharaman made a landmark announcement in the Union Budget 2024: the abolition of angel tax for all types of investors in India. Sitharaman’s decision to remove the angel tax is a significant step for Indian startups. Siddarth Pai, Managing Partner at 3One4 Capital, called...

Nirmala Sitharaman Prepares To Make History With Seventh Consecutive Budget

21 Jul 2024

Finance Minister Nirmala Sitharaman will deliver her seventh consecutive paperless budget on July 22 during the Monsoon Session. This milestone makes her the first Finance Minister to present seven consecutive budgets, surpassing Morarji Desai's record of six. Desai, who served from 1959 to 1964, presented five full budgets and one...

Finance Ministry Calls Meeting of Public Sector Banks; Tuesday’s Meeting Agenda Explained in Simple Points

25 Jun 2024

The Finance Ministry has scheduled a meeting with the heads of Public Sector Banks (PSBs) to assess the progress of various financial inclusion schemes, including PM Vishwakarma, Jan Suraksha, and Mudra Yojana. This meeting, chaired by Financial Services Secretary Vivek Joshi, will review the status of several flagship schemes and...

Inflation, monetary policy to moderate global economic activity: Finance Ministry report

25 Apr 2023

The Ministry of Finance's Monthly Economic Review report states that the growth process has been weakened due to heightened inflation and the tightening of monetary policy, and it is anticipated that these factors will continue to impede economic activity for a minimum of three years since the onset of the...

Here’s what real estate developers have to say about Union Budget

01 Feb 2023

The Budget session is the extension of GOI’s overall commitment towards infrastructure growth, spurred urbanization, and affordable housing projects. This will be beneficial to the real estate industry, as it will set the tone for increased growth and demand. The government has allocated INR 10,000 Crore in infrastructure funds that...

GST revenue increases 26% to over Rs 1.47 lakh

01 Oct 2022

The amount of GST collected in September increased by 26% to over Rs. 1.47 lakh crore, the finance ministry reported on Saturday The mop-up for the Goods and Services Tax (GST) has exceeded 1.40 lakh crore for seven consecutive months. According to a statement from the ministry, the total gross...