Government, World Bank Sign $750 Million Agreement To Provide Liquidity To MSMEs

[ad_1] The agreement will provide immediate liquidity to MSMEs The government on Monday signed a $750 million agreement with the World Bank with the aim of increasing flow of finance into the hands of micro, small and medium enterprises (MSMEs), the finance ministry said in a release. The agreement is expected to provide immediate liquidity […]

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Finance Ministry Denies Reports Of Merging Direct And Indirect Tax Bodies

[ad_1] Finance Ministry has denied reports of merging CBDT and CBIC The finance ministry on Monday denied reports of merging Central Board of Direct Taxes (CBDT) and Central Board of Indirect Taxes and Customs (CBIC), terming it as “factually incorrect”. Earlier in the day, a report claimed that the government is mulling the merger of CBDT […]

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GST Council To Meet Next Month, Government Not Looking To Raise Non-Essential Item Rates

[ad_1] GST Council will hold a meeting next month The finance ministry is not in favour of increasing goods and services tax rates on non-essential items in the next month’s meeting of the GST Council, despite depressed revenue collections due to the nationwide lockdown to contain the spread of COVID-19. If goods and services tax […]

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Rs 50,000 Crore To Create Infra For Transporting Coal: Nirmala Sitharaman

[ad_1] Nirmala Sitharaman addresses a press conference giving details of economic reforms. New Delhi: Commercial mining of coal will be allowed to end government monopoly in the sector, Finance Minister Nirmala Sitharaman said today in the fourth set of announcements on a Rs 20 lakh crore stimulus to shore up an economy battered by coronavirus […]

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India To Offer Big Tax Holidays To Win New Investments: Report

[ad_1] The government is looking to attract investments that leave China The trade ministry is proposing a tax holiday for companies bringing new investments as the government explores measures to support the economy amid the coronavirus pandemic, according to people familiar with the matter. The proposal to give a 10-year full tax exemption to companies […]

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Dearness Allowance For Government Staff Paused Till July 2021, No Arrears

[ad_1] Coronavirus impact: Three instalments of Dearness Allowance to central government employees on hold Highlights Income of over 48 lakh central government employees affected Combined savings will amount to Rs 1.20 lakh crore Over 21,000 tested positive for coronavirus, 681 deaths New Delhi: Dearness Allowance and Dearness Relief for government employees were stopped by the […]

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Government To Borrow Rs 4.88 Lakh Crore In First Half Of Financial Year 2021

[ad_1] The government will borrow Rs 4.88 lakh crore in the first half of fiscal 2020-21 starting April 1 to shore up resources amid a war it is wagging to contain economic fallout of coronavirus pandemic, DEA Secretary Atanu Chakraborty said on Tuesday. Finance Minister Nirmala Sitharaman had in her budget for 2020-21 pegged gross […]

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Coronavirus – “Fake News”: Government Says Financial Year Not Being Extended

[ad_1] Coronavirus: The government said there was no extension of the financial year. New Delhi: The financial year has not been extended till June this year in view of the coronavirus outbreak, the Finance Ministry said on Monday, refuting media reports. “There is a fake news circulating in some section of media that the financial […]

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Government May Slash Borrowing From Market In April Amid Lockdown: Report

[ad_1] The travel curbs have disrupted routine bond market trading. MUMBAI/NEW DELHI: Government may slash or even cancel its planned borrowings from the market for April, looking at its options amid a nationwide lockdown prompted by the coronavirus outbreak, two finance ministry sources told Reuters. The travel curbs have disrupted routine bond market trading and […]

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Excise On Petrol, Diesel To Go Up By Rs 8/Litre To Fund Covid-19 Fight

[ad_1] The government has decided to raise excise duty on petrol and diesel significantly, by up to Rs 8 per litre, to mobilise additional resources that would be required to fight the Covid-19 pandemic. As per the amendments introduced in the Finance Bill 2020, the Finance Ministry has proposed to raise special additional excise duty […]

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