Page-3 of Ministry of Finance Current Affairs, GK & News

Status Paper on Government Debt released

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 ..

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Finance Ministry begins Annual Exercise

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 ..

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International Monetary and Financial Committee

The Union Minister of Finance and Corporate Affairs attended the plenary meeting of IMFC through video-conferencing in light of the COVID-19 crisis. About IMFC The International Monetary and Finance Committee is a body under the IMF (International Monetary Fund). It is an advisory body without decision making powers but helps in providing strategic direction to ..

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Union Cabinet approves RoDTEP

The Union Cabinet approved the Remission of Duties or Taxes on Export Products (RoDTEP). It is a scheme for exporters to reimburse taxes and duties paid, like value added tax, coal cess and electricity duties which are not exempted or refunded under existing mechanism. Last year, the RoDTEP scheme was announced by the Finance Minister ..

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Ajay Bhushan Pandey appointed as the new Finance Secretary of India

The Appointments Committee of the Cabinet has approved the appointment of the current Revenue Secretary Ajay Bhushan Pandey as the new Finance Secretary of India. Ajay Bhushan Pandey replaces current Finance Secretary Rajiv Kumar, who got superannuated last month. The senior-most bureaucrat among all secretaries in the Finance Ministry is usually designated as the finance ..

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