Page-18 of Ministry of Finance

MoF: India's external debt at $426 billion in December, 2013

March 31, 2014

As per the quarterly report of Ministry of Finance (MoF), India’s external debt was at $ 426 billion – including the government’s debt of $ 76.4 billion in December 2013. The total external debt of $ 426 billion showed an ..

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SEBI: To issue guidelines for FATCA compliance for fiscal year 2014-15

March 29, 2014

To combat possible tax evasion by Americans through Indian entities, the Securities and Exchange Board of India (SEBI) planned to issue the Foreign Account Tax Compliance Act (FATCA) compliance norms in the fiscal year 2014-15.  For the implementation of the ..

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Iran seeks permission to open multiple bank accounts in India

January 18, 2014

Iran has requested the Ministry of Finance and the Reserve Bank of India (RBI) to allow it to open accounts in multiple banks to facilitate better non-oil trade between the two nations. As per Iran’s Ambassador Gholam Reza Ansari, Iran ..

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Service Tax revenue grew over 300 times in past two decades

December 29, 2013

Finance Ministry is focusing on service tax revenue which has grown significantly by over 300 times in past about two decades.  As per official data, the finance ministry has earned revenue of about Rs 1.32 lakh crore in 2012-13 (provisional figures) compared ..

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Finance Ministry approves 5,500 cr as SBA to pay fertiliser subsidy

September 29, 2013

Finance Ministry has approved for Rs 5,500 crore against Rs 12,000 crore sought by the Department of Fertilisers under a Special Banking Arrangement (SBA) to pay part of the subsidy bill to the industry which is going through a liquidity crunch ..

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Ministry of Finance launches "STAR scheme"

August 20, 2013

STAR: (Standard Training Assessment and Reward) The Ministry of Finance launched the National Skill Certification and Monetary Reward Scheme that will be implemented on national level. The scheme will motivate the youth to acquire a vocational skill. The scheme is expected to ..

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