Saturday, February 8, 2025

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finance ministry

PM supported the idea of cutting income taxes but ministry bureaucrats needed to be convinced due to revenue concerns: FM Sitharaman

When asked how much persuasion did it take to get the PM on board regarding the cut in income tax, Sitharaman said that it was the bureaucrats who needed to be convinced

You don’t have to pay full income tax if income exceeds ₹12 lakh by a small amount: Read what is Marginal Relief and how...

Under the tax structure announced in the budget, marginal relief will be calculated by deducting the amount exceeding ₹12,00,000 from the tax calculated on the entire taxable income

Resilient Economy, Expanding Infrastructure, and Rising Exports: A Deep Dive into the 2024-25 Economic Survey

With a focus on deregulation, infrastructure investment, and job creation, the 2024-25 Economic Survey outlines key strategies to navigate global uncertainties and fuel domestic growth.

PM Jan Dhan Yojana completes 10 years: 2.31 lakh crore deposited, over 53 crore accounts opened out of which more than 66% are in...

The Pradhan Mantri Jan Dhan Yojana (PMJDY) has today completed 10 years of implementation. Launched by PM Narendra Modi in 2014, it now has 53.13 crore accounts, with significant participation from women and rural areas

GST department seeks Rs 120 crore tax from IIT Delhi over govt research fund issued for 5 years till 2022, concerns raised on taxing...

A senior official from the Ministry of Education while talking to Times of India called the notice disappointing and claimed that it intends to challenge it, arguing that GST should not be applied to government-funded research. 

Indian Banks Association has submitted a proposal for 5-day work week with off on all Saturdays, confirms Finance Ministry in Parliament

Union Finance Ministry confirmed in Parliament that the Indian banking sector has formally proposed to declare all Saturdays as official bank holidays

Union Minister issues stark warning on cryptocurrency-driven criminal activities, cites Binance and FTX incidents as a cautionary tale

Union Minister issues strong caution against cryptocurrency related financial crimes, highlights Binance and FTX as examples.

Banks recovered more than Rs 10 lakh crores from bad loans in the last nine years: Finance Ministry tells Lok Sabha

“Comprehensive measures have been taken by the Government and RBI to recover and to reduce NPAs, including those pertaining to corporate companies, which has enabled an aggregate recovery of Rs. 10,16,617 crore (RBI provisional data for FY 2022-23) by SCBs during the last nine financial years,” the written reply stated. 

Union Government hikes interest rate on Employees Provident Fund for FY22-23 to 8.15%

The EPFO has increased interest rate to 8.15% and it will benefit over 6 crore subscribers in FY23. It has also asked filed offices to start crediting it into members' accounts.

Govt to issue ₹75 commemorative coin on the occasion of inauguration of the new parliament building

The finance ministry announced that a ₹75 Commemorative Coin will be issued on the occasion of the Inauguration of the New Parliament Building

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