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INSANE: Finance ministry - The Real Truth

Bank lending rises as corporate bond fundraising falls amid higher yields: Finance Ministry

Bank lending witnessed a significant surge during April-August FY27, contributing to financial resources for businesses. Non-food bank credit rose to Rs 9.8 lakh crore, indicating strong lending activity across major sectors. In contrast, corporate bond issuances fell sharply amid rising bond yields, highlighting a shift in funding trends. Overall bank…

The Economic Times · 22h ago

CBIC holds outreach programme in Chandigarh to discuss GST 2.0 reforms with taxpayers

More than 200 taxpayers and industry representatives participated in an outreach programme with CBIC leadership. The engagement aimed to discuss implementation of reforms from the 57th GST Council meeting. Key reforms include a higher threshold for criminal prosecution and improved processes for tax refunds and registration. This initiative underscores the…

The Economic Times · Oct 30

Abolish LTCG, rationalise STCG, STT rates on equities: PHDCCI to Finance Ministry

PHDCCI has recommended abolishing Long Term Capital Gains tax and modifying short-term capital gains taxes. The chamber suggests increasing the holding period for long-term investments to attract genuine investors. It emphasizes that current tax structures discourage investment due to double taxation on equities. Foreign Portfolio Investors have withdrawn significant funds…

The Economic Times · Oct 29

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CBDT receives around 1,100 applications under foreign assets disclosure scheme

Since the launch of the Foreign Assets of Small Taxpayers Disclosure Scheme, approximately 1,100 taxpayers have submitted applications. The scheme provides an opportunity to disclose unreported foreign assets and income at a 60 percent tax rate. Taxpayers can access information about their assets reported by foreign jurisdictions through the e-filing…

The Economic Times · Oct 26

China faces fresh Indian duties on titanium dioxide imports: Anti-dumping levy of $460-$681 per tonne reimposed for five years

India has reimposed anti-dumping duties of $460 to $681 per tonne on specified titanium dioxide imports from China for five years, following a fresh investigation into injury to domestic manufacturers. The Finance Ministry notified the levy on Saturday. The move could raise input costs for paint makers and other industries,…

The Economic Times · Oct 24

Finance Ministry to invite comments on amended GST return forms from Nov 1

The Finance Ministry will invite comments from businesses on proposed changes to GST return forms. This feedback period will begin on November 1 and remain open until November 30. Additionally, the GST audit process will be streamlined to ensure minimal taxpayer harassment. The updated return forms are set to be…

The Economic Times · Oct 22

DA hike: Why is there delay in DA hike announcement and when can government make it?

DA hike announcement: Central government employees are eagerly anticipating an announcement regarding a dearness allowance hike, which remains uncertain. The recent weekly meeting, where such an announcement could have taken place, was not convened. In response, the Confederation of Central Government Employees and Workers staged a protest highlighting the overdue…

The Economic Times · Oct 21

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Finance Ministry clarifies on legislative developments concerning govt's IDBI Bank stake

The Finance Ministry clarified the legislative developments regarding IDBI Bank's government stake in 2003. An amendment to restrict the dilution of the government's ownership was proposed but ultimately rejected during parliamentary discussions. The ministry highlighted that this issue was previously examined by the Delhi High Court. This examination took place…

The Economic Times · Oct 17

RBI approves merger of Emirates NBD's India branches with RBL Bank

The Reserve Bank of India has approved the merger of Emirates NBD Bank's Indian branches with RBL Bank. This amalgamation will officially take effect on December 1, 2026, according to the central bank's announcement. Emirates NBD Bank initially opened its first Indian branch in Mumbai in 2017, expanding later to…

The Economic Times · Oct 16

Railway employees to get Rs 17,591 annual bonus: But why other central government employees get just Rs 6,908

Indian Railway annual bonus: The central government has announced a Productivity Linked Bonus for non-gazetted Railway employees for FY 2025-26. Railway employees will receive a bonus calculated at 78 days' basic wages, amounting to Rs 17,951. In contrast, other central government employees receive a significantly lower bonus calculated at 30…

The Economic Times · Oct 15

Russia funnels nearly half its budget into defence, cutting social spending

Russia’s 2027 draft budget allocates a record share to defence and security, as regions quietly divert funds for foster children and orphans to war payments and “coffin money” for soldiers’ families is cut by up to 95% in some areas.

Euronews · Oct 13

DA hike for central government employees: AIDEF urges cabinet secretary, Finance Ministry to announce DA hike soon, increase in bonus ceiling

DA hike: Central government employees and pensioners are in eager anticipation of the upcoming announcement regarding the dearness allowance and relief hike. The All India Defence Employees’ Association is urging the government to speed up this declaration. They also propose a significant increase in the performance-linked bonus ceiling, from Rs…

The Economic Times · Oct 12

GPF interest rate for October-December 2026 quarter: Has Finance Ministry changed GPF rate from 7.1%?

The Ministry of Finance has set a 7.1% interest rate for the General Provident Fund, which will be applicable from October 1 to December 31, 2026. This rate will also extend to other funds linked to government establishments. The Finance Ministry evaluates the GPF interest rate every quarter, ensuring consistent…

The Economic Times · Oct 9

Centre plans faceless CGST scheme in 3-4 months, seeks to cut taxpayer-officer interface

The Centre plans to launch a pilot faceless scheme under the Central Goods and Services Tax. The aim of the scheme is to reduce direct interactions between taxpayers and tax officers significantly. Cases will be assigned using technology, including artificial intelligence and data analytics for efficiency. This new framework draws…

The Economic Times · Oct 6

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The Economic Times · Sep 30

Has government increased SSY, PPF, NSC, other small savings schemes' interest rates for October-December 2026 quarter?

The Ministry of Finance has announced that the interest rates for small savings schemes will remain steady for the next quarter. This decision comes after two years of rate stability since December 2024. The review took into account inflation and bond yields, which hinted at possible rate increases. However, the…

Euronews · Sep 27

Russia's finance ministry raises taxes to bolster Putin's military budget

More frequent long-range strikes by the Ukrainian armed forces on strategically important targets, as well as growing spending to counter these attacks, are further deepening Russia's budget deficit.

The Economic Times · Sep 23

Did government order banks to stock ATMs ahead of UPI charges? Here’s what PIB said

A newspaper clipping claiming banks were told to increase ATM cash stocks ahead of UPI fees has circulated online, prompting a government fact check. PIB said neither the RBI nor the Finance Ministry issued such an instruction. The clarification comes as a revised UPI framework introduces MDR for specified higher-value…

The Economic Times · Sep 22

Bank Strike September 28-30: Why will banks remain closed for 3 days? Check services that may be affected

Bank Strike September 28: UFBU has said its proposed nationwide bank strike from September 28 to 30 will go ahead after a conciliation meeting with the Deputy Chief Labour Commissioner remained inconclusive. The unions, which claim to represent around 90% of bank employees, are primarily seeking a five-day banking week,…

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The Economic Times · Sep 17

Finance Ministry rejects US pressure claims over new UPI MDR, says RuPay has no special edge

India's Finance Ministry rejects claims of US influence on UPI payment charges. The new framework prioritizes RuPay credit cards for UPI transactions. This move aims to foster domestic competition and create a sustainable revenue model. Small merchants and certain transactions will remain exempt from the new charges. The government emphasizes…

International Business Times · Sep 9

Germany Wants To End Bitcoin's Tax-Free Perk. Long-Term Holders Could Soon Face A 26% Tax.

Crypto bought before the end of 2026 would keep Germany's existing treatment, while newer holdings would be taxed regardless of how long investors keep them.

The Economic Times · Sep 2

Nirmala Sitharaman pushes deeper India-EU economic ties, critical supply chains

Finance Minister Nirmala Sitharaman met European Commissioner Valdis Dombrovskis to deepen economic ties. They discussed trade, technology, and supply chain resilience cooperation. Sitharaman also met South Korean Deputy Prime Minister Koo Yun-cheol for bilateral talks. Both nations aim to strengthen economic and financial cooperation further. Discussions included investment, critical minerals,…

The Economic Times · Sep 2

Nirmala Sitharaman, World Bank chief Ajay Banga hold meeting, discuss deepening cooperation

The things the FM and the World Bank chief discussed included a significant role of MIGA in boosting corporate and infrastructure finance. They also explored the utilisation of technology for advancing agricultural practices and tourism development, aiming at harnessing global knowledge and private capital for progress.

Bangkok Post · Aug 17

Slower Q2 growth close to ministry's earlier estimate

The slower economic growth in the second quarter was close to the Finance Ministry's previous estimate and confirmed the outlook anticipated by the economic team, particularly regarding the impact of the Middle East conflict, which began in late March and affected the economy in waves throughout the second quarter, says…

The Economic Times · Jul 29