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Government working with RBI on Industry’s need for loan restructuring: Finance Minister Smt. Nirmala Sitharaman

The Union Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman today said that the government is working with RBI on the Industry’s need for the restructuring of loans due to the COVID-19 impact. While addressing the National Executive Committee Meeting (NECM) of the Federation of Indian Chambers of Commerce and Industry (FICCI), Smt. Sitharaman said, “The focus is on restructuring. Finance ministry is ...

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Tariff Notification No. 65/2020-CUSTOMS (N.T.) in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver

In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Indirect Taxes & Customs, being satisfied that it is necessary and expedient so to do, hereby makes the following amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), ...

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Tariff Notification No. 62/2020-Customs (N.T.) in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver

In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Indirect Taxes & Customs, being satisfied that it is necessary and expedient so to do, hereby makes the following amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), ...

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DGGI books 3 firms for Tax evasion of more than Rs 600 Crore

A case was booked against M/s. Fortune Graphics Limited, M/s. Reema Polychem Pvt. Ltd. & M/s. Ganpati Enterprises, who were found involved in issuance of invoices without any actual supply of goods. The case was detected and developed by the officers on further data analytics out of a case booked against one of the exporters, M/s Anannya Exim, covered in ...

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Centre Released Rs. 1,65,302 Crore as GST Compensation to States/UTs for the FY 2019-20 against cess collection of Rs. 95,444 crore

Central Government has recently released GST Compensation of Rs. 13,806 crore to States for March’2020. Taking this amount into account, entire compensation upto 2019-20 has been released to States. The total amount of compensation released for the year 2019-20 is Rs. 1,65,302 crore whereas the amount of cess collected during the year 2019-20 was Rs. 95,444 crore. To release the compensation for ...

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Borrowing limit of states increased from 3% to 5%; Public sector to be open for private players: FM

Presentation of details of 5th Tranche announced by Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman under Aatmanirbhar Bharat Abhiyaan to support Indian economy in fight against COVID-19 Please click here for PPT

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Finance Minister announces Government Reforms and Enablers across Seven Sectors under Aatma Nirbhar Bharat Abhiyaan

In her opening remarks during the 5th Press Conference here today on stimulus package to fight COVID-19 under Aatma Nirbhar Bharat Abhiyaan, the Union Minister of Finance & Corporate Affairs Smt. Nirmala Sitharaman referred to the vision laid out by Prime Minister Shri Narendra Modi in his address to the Nation on 12th May 2020. Quoting the Prime Minister, Smt. Sitharaman said that ...

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Sitharaman announces structural reforms in 8 sectors to build self reliant India

Finance Minister Nirmala Sitharaman unveiled structural reforms for various sectors to help build a self-reliant India under the Atma Nirbhar Bharat Campaign, today Policy Reforms to fast-track Investment – Effort towards AtmanirbharBharat Fast track Investment Clearance through Empowered Group of Secretaries (EGoS). Project Development Cell in each Ministry to prepare investible projects, coordinate with investors and Central/ State Governments Ranking ...

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Finance Minister announces short term and long-term measures for supporting the poor, including migrants, farmers, tiny businesses and street vendors

Hon’ble Prime Minister announced a Special economic and comprehensive package of Rs 20 lakh Crore – equivalent to 10% of India’s GDP on 12th May 2020. He gave a clarion call for Aatmanirbhar Bharat or Self-Reliant India Movement. He also outlined five pillars of Aatmanirbhar Bharat – Economy, Infrastructure, System, Vibrant Demography and Demand.Announcing the 2nd Tranche of measures to ameliorate ...

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Finance Minister announce measures for relief and credit support related to businesses, especially MSMEs to support Indian Economy’s fight against COVID-19

During the press conference here today, Union Minister of Finance & Corporate Affairs Smt. NirmalaSitharaman said in her opening remarks that Prime Minister Shri NarendraModihad laid out a comprehensive vision in his address to the Nation yesterday. She further said that after spending considerable time, the Prime Minister has himself ensured that inputs obtained from widespread consultationform a part of ...

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