Tag Archives: Finance Minister

New Delhi: The government said on Saturday that the due dates for filing income tax returns and tax audit reports for fiscal year 20 for various classes of taxpayers have been extended to give taxpayers more time to comply. The government also, with the advice of the federal tax body, …

New Delhi: In a relief for borrowers at the start of the holiday season, the government announced on Friday evening the exemption of interest on loans of up to 2 million rupees regardless of whether the moratorium was applied or not. The Department of Financial Services issued operational guidance in …

As an important Diwali gift to borrowers, the Ministry of Finance has approved guidelines for an ex gratia repayment plan of the difference between compound and simple interest for six months of loans up to ₹2 crore. The guidelines emerged after the Supreme Court ordered the Center to implement “as …

To compensate for the deficit of the Goods and Services Tax (GST), the central government has borrowed and transferred ₹6 billion rupees as the first tranche to 16 states and union territories under a special debt window, the Finance Ministry said on Friday. The interest rate has been set at …

Days after the Union’s finance minister, Nirmala Sitharaman, said that the option of another fiscal stimulus for the current financial year remains open, a senior adviser said the ministry is working on such a package. “The Finance Minister, in her interaction a day ago, mentioned that (about the increase in …

Congress Speaker Sonia Gandhi on Sunday criticized Prime Minister Narendra Modi, who led the union government, over the recent compensation controversy in the GST Council and said his denial will affect the functioning of state governments. Taking a firm stance, Gandhi said that this could be the “first example of …

The Center has recently introduced an LTC cash voucher system for central government and public sector employees. An employee is eligible for LTC and leaves a 10-day charge to travel to their hometown or any other destination twice in a four-year block. The cost of the ticket is exempt while …

The central government will borrow ₹Rs 1.1 million lakh under the special window to cover the goods and services tax (GST) offsetting deficit, the Finance Ministry reported on Thursday. “In the framework of the Special Window for States to cover the GST compensation deficit, the estimated deficit of ₹The Government …

The Expenditure Department of the Ministry of Finance has granted permission to Tamil Nadu to collect an additional amount of ₹Rs 9,627 crore through open market loans on Wednesday. The permit was granted to Tamil Nadu after the state formally communicated its acceptance of Option 1 to cover the shortfall …

Clearing up doubts about LTC’s latest cash voucher scheme, the Finance Ministry said the latest scheme offers employees an option to “spend on more than just travel.” To boost consumption, the central government introduced the LTC cash voucher scheme on Monday. Central government employees and UPMs are now eligible to …