Businesses, with an annual turnover of up to Rs 40 lakh are exempted from GST

Published: August 25, 2020

The Finance Ministry of the Government of India has declared in a series of statements that Businesses with an annual turnover of up to Rs 40 lakh will enjoy GST exemption. Previously the threshold limit was Rs 20 lakh. Key highlights During the commemoration ceremony of the first death anniversary of former Finance Minister Arun ..

Month: Current Affairs - August, 2020

Category: Economy & Banking Current Affairs • Government Schemes Current Affairs • India Nation & States Current Affairs

Topics: Arun Jaitley • Goods and Service Tax • GST • GST rate • Ministry of Finance

Banks sanction loans worth over Rs 1.5 lakh crore under ECLGS for MSME

Published: August 20, 2020

The finance ministry declared, Public and Private Sector Banks have disbursed loans over Rs 1.5 lakh crore under the Emergency Credit Line Guarantee Scheme (ECLGS) for the MSME sector. The top three lenders under the scheme are the State Bank of India, Canara Bank, and Punjab National Bank. What is the Emergency Credit Line Guarantee ..

Month: Current Affairs - August, 2020

Category: Economy & Banking Current Affairs • Government Schemes Current Affairs • India Nation & States Current Affairs

Topics: Canara Bank • Emergency Credit Line Guarantee Scheme • Ministry of Finance • MSME sector • Punjab National Bank • State Bank of India

GoI: No New Schemes for a year

Published: June 6, 2020

On June 5, 2020, the Government of India announced that no new schemes will be approved till March 31, 2021. Till then, the schemes under Pradhan Mantri Garib Kalyan Yojana and Atma Nirbhar Bharat Abhiyan are to be implemented. Highlights The Government of India will implement the schemes that were announced under Atma Nirbhar Bharat ..

Month: Current Affairs - June, 2020

Category: Government Schemes Current Affairs

Topics: Atma Nirbhar Bharat Abhiyan • Dearness allowance • Jal Jeevan mission • MGNREGA • Ministry of Finance • MSME • nirmala sitaraman • Pradhan Mantri Garib Kalyan Yojana • public distribution system (PDS)

Status Paper on Government Debt released

Published: May 23, 2020

On May 22, 2020, the Ministry of Finance released Status Paper on Government Debt 2018-19. According to the report, the overall debt of centres and states declined by 68.7% in March 2018 to 68.6% in 2019. Highlights The Status Paper on Government Debt is being produced by the Ministry of Finance since 2010. Current debt ..

Month: Current Affairs - May, 2020

Category: Economy & Banking Current Affairs

Topics: Consolidated Fund of India • Debt • debt-to-GDP ratio • external debt • government liabilities • Ministry of Finance

Finance Ministry begins Annual Exercise

Published: May 13, 2020

On May 12, 2020, the Ministry of Finance announced that the government departments and ministries will review guarantees issued against loans issued by various government entities. Highlights The exercise is done to make sure that the borrower is discharging the repayment obligations and interest obligations according to the loan agreement. The financial advisories of the ..

Month: Current Affairs - May, 2020

Category: India Nation & States Current Affairs

Topics: article 292 • Constitution • Financial Assistance • GDP • Government Securities • Ministry of Finance

Advertisement