Finance Ministry
Framework to implement Vivad Se Vishwas-I
During COVID, the GoI had collected a forfeited amount. Forfeited means the loss of something. When someone fails to pay the money he owes, forfeiture occurs. GoI collected forfeited amounts (something like a fine) from companies that failed to oblige ..
Month: Current Affairs - February, 2023
Category: Economy & Banking Current Affairs
Finance Ministry’s Monthly Economic Review – Update (February, 2022)
On the basis of several efforts taken by the government in Budget 2022-23, the Indian economy is expected to grow at the fastest rate among the large nations, according to the Finance Ministry’s Monthly Economic Review. Overview: Agriculture will boost ..
Month: Current Affairs - February, 2022
Category: Economy & Banking Current Affairs
Finance Ministry’s Monthly Economic Review
The Ministry of Finance recently released its “Monthly Economic Review for September 2021”. According to the report, Indian economy is on path of swift recovery from the impact of Covid-19 pandemic. Key Findings As per economic review report, sustained & ..
Month: Current Affairs - October, 2021
Finance Ministry releases Revenue Deficit Grants to States
Finance Ministry released the sixth monthly instalment of revenue deficit grant of Rs 9871 crores to 17 states, on September 9, 2021. Highlights Grants were released on the recommendations of 15th Finance Commission to 17 states for 2021-22. Grants were ..
Month: Current Affairs - September, 2021
Government seeks parliament nod for additional spending
On 20th July, Nirmala Sitharaman, Finance Minister of India, sought the nod of the Indian Parliament so as to spend an additional Rs 23,675 crore in the current financial year including Rs 17,000 crore for the Health Ministry. Highlights ..
Month: Current Affairs - July, 2021
Dept of Public Enterprises brought under Finance Ministry
Central government has decided to bring Department of Public Enterprises (DPE) under finance ministry. Key Points DPE was earlier under Ministry of Heavy Industries and Public Enterprises. It has been brought under finance minister in a bid to ease coordination ..
Month: Current Affairs - July, 2021
Somanathan: New Finance secretary
The Expenditure Secretary T V Somanathan was recently designated as the Finance Secretary by the Appointments Committee of the Cabinet. About T V Somanathan Currently he is the senior most officer among all the secretaries in the Ministry of Finance. ..
Month: Current Affairs - April, 2021
Finance Ministry releases grants to Rural Local Bodies
The Department of Expenditure of Ministry of Finance has recently released Rs 12,351 crore to 18 States in order to provide grants to the Rural Local Bodies. Highlights The amount is the 2nd instalment of basic grants released in the ..