Finance
CBIC provides facilitation for exporters having IGST refund issues
CBIC has extended the time limit for sanction of pending IGST refunds in cases where records have GSTR1 and GSTR3B mismatch error. […]
Ministry of Finance
Finance
Foreign Currency Exchange Rates for Import and Exports w.e.f. 19 Feb 21
The Central Board of Indirect Taxes and Customs has determined the rate of exchange of conversion of each of the foreign currencies into Indian currency or vice versa, shall, with effect from 19th February, 2020 for the purpose of the said section, relating to imported and export goods. […]
Agriculture & Commodities
CBIC releases new rates for Edible Oils & Other Commodities for w.e.f 15Feb
Central Board of Indirect Taxes & Customs (CBIC) released the new rates for purchase of Edible Oils, Precious Metals and Areca Nuts w.e.f 15th Feb 2021 […]
Finance
WB to give $100M for CHIRAAG project in Chattisgarh
World Bank Signs $100M support for Project CHIRAAG to Support Nutrition-Supportive Agriculture in Tribal-Dominated Areas of Chhattisgarh […]
Foreign Relations
FM holds bilateral meeting with Secretary of State for International Trade, UK
Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman here today met Rt Hon Mary Elizabeth Truss, Secretary of State for International Trade, United Kingdom […]
Finance
Private sector has a key role in India’s growth recovery: FM
FM Nirmala Sitharaman said that while the Union Budget 2021-22 provides for enhanced capital expenditure by the Government, it also envisages private sector participation in a big way […]
Foreign Relations
Foreign Currency Exchange Rates for Import and Exports w.e.f. 5 Feb 21
The Central Board of Indirect Taxes and Customs has determined the rate of exchange of conversion of each of the foreign currencies into Indian currency or vice versa […]
Business
MCA revises threshold for paid up capital and turnover for Small Companies
Companies Act, 2013 for Small Companies has now been revised by increasing their thresholds for Paid up capital from “not exceeding Rs 50 lakh” to “not exceeding Rs 2 crore” & Turnover from “not exceeding Rs 2 crore” to “not exceeding Rs 20 crore” […]
Finance
Capital outlay increased by nearly 19 percent giving defense modernization
BUDGET 2021-22; Capital outlay increased by nearly 19 percent giving defense modernization historic push; Raksha Mantri thanks Prime Minister & Finance Minister for increasing defense budget to 4.78 lakh crore […]
Finance
Summary of the Budget 2021-22
The Union Minister for Finance & Corporate Affairs, Smt Nirmala Sitharaman presented the Union Budget 2021-22 in Parliament today, which is the first budget of this new decade and also a digital one in the backdrop of the unprecedented COVID-19 crisis. […]
Finance
Key Highlights of Union Budget 2021-22
Presenting the first-ever digital Union Budget, Union Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman stated that India’s fight against COVID-19 continues into 2021 and that this moment in history […]
Finance
GST collection for Jan 2021 hits close to ₹1.2 lakhCr
The gross GST revenue collected in the month of January 2021till 6PM on 31.01.2021 is ₹ 1,19,847 crore of which CGST is ₹ 21,923 crore, SGST is ₹ 29,014 crore, IGST is ₹ 60,288 crore […]
Finance
Key Highlights of Economic Survey 2020-21
Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman presented the Economic Survey 2020-21 in the Parliament today. The key highlights of Economic Survey 2020-21, which is dedicated to the COVID Warriors. […]
Finance
India looks forward for a V-Shaped Economic Recovery
A palpable V-shaped recovery in industrial production was observed over the year. Manufacturing rebounded and industrial value started to normalize; FM […]
General
CBIC celebrates International Customs Day
Central Board of Indirect Taxes and Customs celebrates International Customs Day, 2021 and holds ceremony for World Customs Organisation Certificate of Merit Award […]
Finance
States get 12351cr to provide grants to Rural Local Bodies
Grant of Rs.12,351 crore released for Rural Local Bodies; A total grant of Rs. 45,738 crore has been released to Rural Local bodies so far in 2020-21 […]
Finance
Union Budget Mobile App launched by Finance Minister
Final stage of Union Budget 2021-22 commences with Halwa Ceremony; Finance Minister launches “Union Budget Mobile App” to provide easy and quick access to Union Budget information to all stakeholders […]
Technology
PM announces 1000 crore Startup India seed fund
PM interacts with Startups and addresses ‘Prarambh: Startup India International Summit; nnounces 1000 crore Startup India seed fund; Startups are changing demographic characteristics of today’s business; India is working for a startup ecosystem ‘Of the Youth, By the Youth, For the Youth’; 8 thousand startups registered on GeM, Done business worth 2300 crore […]
Finance
Exchange rates for exports and imports for Jan 2021 released
Central Board of Indirect Taxes and Customs has determined the rate of exchange of conversion of each of the foreign currencies with effect from 8th January, 2021 for the purpose of the said section, relating to imported and export goods. […]
Corona Virus
CBIC introduces flagship Liberalised Authorised Economic Operator Package for MSMEs
CBIC has taken a new initiative to introduce its flagship “Liberalised MSME AEO Package” for MSMEs; MSMEs to become Authorised Economic Operators (AEOs) and avail the various benefits […]
Finance
NDB sign 2 loan agreements for USD 646M for upgrading State & District Road Network in AP
Government of India & NDB sign two loan agreements for USD 646 million for upgrading State Highway Network and District Road Network in Andhra Pradesh
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Finance
World Bank gives $105M to Improve Waterways in West Bengal
The Government of India, the Government of West Bengal, and the World Bank today signed a $105 million project to improve the inland water transport infrastructure in Kolkata, West Bengal. […]
Finance
ADB gives $100M loan to upgrade power distribution system in Bengaluru
The Asian Development Bank (ADB) and the Government of India on 31st December 2020 signed a $100 million loan to modernise and upgrade the power distribution system to enhance the quality and reliability of electricity supply in Bengaluru city in the state of Karnataka. […]
Finance
₹ 1,15,174 cr GST revenue collected in December
The gross GST revenue collected in the month of December 2020 is ₹ 1,15,174 crore of which CGST is ₹ 21,365 crore, SGST is ₹ 27,804 crore, IGST is ₹ 57,426 crore […]
Finance
IFSCA becomes member of IOSCO
The International Financial Services Centres Authority (IFSCA) has become an Associate Member of the International Organization of Securities Commissions (IOSCO). […]
Agriculture & Commodities
Import of Crude Palm Oil sees a rise of $70 per MT
Central Board of Indirect Taxes & Customs makes the following amendments in the notification related to the tariffs for Edible oils, gold, and other mineral imports. […]
Finance
Finance ministry extends time limits for income tax returns to 15th Feb 2021
The due date for furnishing of Income Tax Returns for the Assessment Year 2020-21 for the taxpayers to get their accounts audited and companies has been further extended to 15th February, 2021. […]
Finance
IFSCA permits Banking Units to transfer of assets
The International Financial Services Centres Authority (IFSCA) today allowed Banking Units (BUs) to transfer assets to/from other financial institutions, persons resident in India […]
Finance
World Bank Signs $500 Million Project to Develop Green, Resilient and Safe Highways in India
The Government of India and the World Bank today signed a $500 million project to build safe and green national highway corridors in the states of Rajasthan, Himachal Pradesh, Uttar Pradesh and Andhra Pradesh […]
Finance
Import/Export Exchange Rates released for Dec-2020
The Central Board of Indirect Taxes and Customs hereby determines that the rate of exchange of conversion of each of the foreign currencies into Indian currency or vice versa, shall, with effect from 18th December, 2020 relating to imported and export goods. […]
Finance
World Bank to fund US$400M to provide social assistance to the poor in India
The Government of India and the World Bank today signed a $400 million project to support India’s efforts at providing social assistance to the poor and vulnerable households, severely impacted by the COVID-19 pandemic. […]
Finance
NDB signs agreement for $1,000 million to provide support to Aatma Nirbhar Bharat Abhiyan
Government of India and NDB sign agreement for $1,000 million to provide support to Aatma Nirbhar Bharat Abhiyan through MGNREG Scheme to support India’s economic recovery from COVID-19 […]
Finance
Nirmala Sitharaman chairs Financial Stability and Development Council meet
Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman chaired the 23rd Meeting of the Financial Stability and Development Council (FSDC) through video conference here today. […]
Agriculture & Commodities
Edible Oils see yet another Price Rise
WIn 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 to do so, hereby makes the following amendments in the notification of the Government of India in the Ministry of Finance […]
Finance
Rs. 2lac cr sanctioned to 80L+ borrowers under ECLGS
Under an Emergency Credit Line Guarantee Scheme (ECLGS), as on 04.12.2020, as reported by Public Sector Banks, top 23 Private Sector Banks and 31 NBFCs, additional credit amounting to Rs. 2,05,563 crore has been sanctioned to 80,93,491 borrowers […]
Finance
MSMEs receive 21000 crores from GOI Agencies & CPSE
FM lauds concerted efforts resulting in higher procurement and payment of over Rs 21000 crore to MSMEs up to November; Government’s aggressiveness for the economic betterment of MSMEs shows the result; Procurement from and payment to MSMEs on the rise; MSME sector on the upswing […]
Finance
SEBI signs MoU with CSSF Luxembourg on cross border financial regulations
Cabinet approves the proposal of Securities & Exchange Board of India (SEBI) tosign Bilateral Memorandum of Understanding between India and Luxembourg […]
Finance
India engages with Better Than Cash Alliance on Fintech Solutions
DEA with support of UN Better Than Cash Alliance today hosted a learning session “Accelerating Responsible Digital Payments: Unlocking the Role of Fintech in Last Mile Service Delivery” with leaders from States and Union Territories across India […]
Finance
All States choose Option-1 to meet the GST implementation shortfall
The Government of India has set up a special borrowing window for the States & Union Territories who choose Option-1 to borrow the amount of shortfall arising out of GST implementation. […]
Finance
Latest Exchange Rates for Import & Export for Dec 2020
In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the Notification No.108/2020-Customs(N.T.), dated 19th November 2020 except as respects things done or omitted to be done before such supersession […]
Finance
ADB loans $50 million to strengthen WB public finance reforms
The Asian Development Bank (ADB) and the Government of India here today signed a $50 million policy-based loan to improve financial management procedures and operational efficiencies aimed at achieving more fiscal savings […]
Finance
INR 200cr municipal bonds issue of Lucknow Municipal Corporation listed at BSE
INR 200 crore municipal bonds issue of Lucknow Municipal Corporation listed at BSE; 10-year bond attracts huge investor interest with total bids of INR 450 crores–closes with an attractive coupon rate of 8.5%; Lucknow becomes 9th city to raise municipal bonds, Incentivised By Mohua Under Mission Amrut; LMC to get ₹26 cr to subsidize interest burden
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Finance
ADB loans $132.8 million to strengthen Meghalaya’s power distribution Sector
The Asian Development Bank (ADB) and the Government of India today signed a $132.8 million loan to strengthen and modernize the distribution network and improve the quality of power supplied to households, industries, and businesses […]
Finance
Rs 1,04,963cr of gross GST Revenue collected in the month of November 2020
The gross GST revenue collected in the month of November 2020 is ₹ 1,04,963 crore of which CGST is ₹ 19,189 crore, SGST is ₹ 25,540 crore, IGST is ₹ 51,992 crore (including ₹ 22,078 crores collected on import of goods) and Cess is ₹ 8,242crore […]
Finance
Finance Minister delivers a keynote address at the inauguration of the Sri Lanka Economic Summit 2020
Union Minister for Finance & Corporate Affairs, Smt. Nirmala Sitharaman delivered a Keynote Address at the inauguration of the 20th Edition of Sri Lanka Economic Summit (SLES) 2020 in a virtual format, today. […]
Investments
Foreign Portfolio stands at Rs 62,782cr for November 2020
Indian growth story continues as is demonstrated by the trends in FPI, FDI, and Corporate Bond Market flow; FPI inflows stood at Rs 62,782 crore for November 2020; FDI equity inflows touch US$30,004 million up to September 2020 in FY2020-21-which is 15% more than the corresponding period of 2019-20; In H1 FY21, the total corporate bond issuances amount to Rs. 4.43 lakh crore, 25% higher than Rs. 3.54 lakh crore in the same period last year […]
Finance
Finance Minister holds 5th review meeting on CAPEX of CPSEs
Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman here today held a Video Conference with the Secretaries of the Ministries of Power, Mines, and Department of Atomic Energy and the CMDs of 10 CPSEs belonging to these Ministries, to review the capital expenditure (CAPEX) in this financial year. […]
Finance
Edible Oil Import rates see a jump of $50 per MT from last month
Tariff Notification No. 109/2020-Customs (N.T.) in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver […]
Finance
Finance Ministry extends ECLGS to 26 sectors
Extension of Emergency Credit Line Guarantee Scheme through ECLGS 2.0 for the 26 sectors identified by the Kamath Committee and the healthcare sector; Extension of the duration of Emergency Credit Line Guarantee Scheme (ECLGS) 1.0 […]
Finance
CBDT to validate UDIN generated from ICAI portal for Tax Audit Reports
The Institute of Chartered Accountants of India, in its gazette notification dated 2nd August 2019, had made a generation of UDIN from ICAI website www.icai.org mandatory for every kind of certificate/tax audit report and other attests made by their members as required by various regulators. This was introduced to curb fake certifications by non-CAs misrepresenting themselves as Chartered Accountants. […]