Prime Minister Narendra Modi has come forward to assist Kerala in a bid to alleviate the state from the economic crisis as the Centre has sanctioned borrowings up to Rs 21,253 crores. Minister of State for Electronics and Information Technology, Rajeev Chandrasekhar took to social media platform X to announce financial support from the Centre … Read more
The union finance ministry has issued the detailed guidelines for the waiver of ‘interest on interest’ for loans that was announced earlier this month. The govt had decided to waive the compound interest on loans upto Rs 2 crore for a period of six months, from March to August. It was announced that this compound interest waiver will be … Read more
With the American e-commerce giant Amazon getting a favourable ruling in Singapore with regard to the Future-RIL deal on Sunday, Reliance Retail Ventures Ltd (RRVL), the retail arm of Indian behemoth Reliance Industries Ltd. released a statement saying it intends to enforce its rights and complete the transaction in terms of the scheme and agreement … Read more
As India prepares for the festive season and the economy gradually unshackles itself from the coronavirus-induced lockdown, several sectors of the economy have registered impressive revival. One of them being the automobile sector. After Hyundai, Maruti Suzuki and Hero Motocorp, now the Bajaj Auto has recorded highest ever monthly sales in the last month. Bajaj … Read more
In a big boost to Atmanirbhar Bharat campaign, the Union Cabinet chaired by the PM Narendra Modi today gave its approval to introduce the Production-Linked Incentive (PLI) Scheme in 10 key sectors for enhancing India’s manufacturing capabilities and enhancing exports. “The policy that we are taking in the PLI, through which we want the manufacturers to come into India, … Read more
In a major development, India witnessed a record high collection of Goods and Services Tax (GST) for the month of December 2020. As per reports, GST revenue collected last month stood at an all-time high of ₹1,15,174 crores. At the same time, the figure is 12% higher than the tax collected in December 2019. Finance Ministry informed … Read more
Just days after Prime Minister Narendra Modi hailed the private sector, the union government has decided to lift a ban that was there on private sector banks from government transactions. In a major reform in the financial sector, the embargo on the grant of government business to private banks was lifted by the finance ministry. … Read more
On the 22nd of May, the Reserve Bank of India (RBI) declared a record dividend of Rs 2.11 lakh crore to the Government of India for fiscal year 2023-24. It was announced at the 608th meeting of the Reserve Bank of India’s Central Board of Directors, held today in Mumbai, chaired by Governor Shaktikanta Das. The RBI’s dividend … Read more
The Union Finance Ministry has decided to provide an additional amount of upto Rs 15,000 crore to states as interest-free 50-year loans for spending on capital projects. The Department of Expenditure has issued fresh guidelines in this regard on the “Scheme of Financial Assistance to States for Capital Expenditure” for the financial year 2021-22. Under this Scheme, … Read more
Finance Minister Nirmala Sitharaman chaired the 44th GST Council Meeting through a video conference on Saturday, June 12. At the press conference after the meeting, Sitharaman announced that the GoM’s recommendation on slashing rates on certain COVID-19 essentials have been accepted. The new rates will remain in effect till at least September 30, she said. In its … Read more