Page-3 of Ministry of Finance

FinMin allows all Private Banks to Participate in Government Business

February 25, 2021

The finance ministry has allowed all the private sector banks to participate in business related to government such as small savings schemes and collection of taxes pension payments. Highlights Currently, only some of the big private sectors are allowed to ..

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Andhra Pradesh: 2nd State to undertake Power Sector reforms

February 5, 2021

Andhra Pradesh has become the second State to implement the power sector reforms that was put forward by the Department of Expenditure, Ministry of Finance. Highlights The state has implemented the one of the three reforms that was bought in ..

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Economic Survey 2021- Key Highlights

January 29, 2021

Union Finance Minister Nirmala Sitharaman tabled the Economic Survey 2020-21 in the Lok Sabha on January 29, 2021. Highlights The Economic Survey 2021 presented an estimation of the progress that the Indian economy has made in the last 12 months. ..

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Rajasthan- 5th state to complete Urban Local Bodies Reforms

January 28, 2021

Rajasthan has become the 5th state in the country to successfully complete the Urban Local Bodies (ULBs) reforms. This was specified by the Department of Expenditure, Ministry of Finance. Benefits Rajasthan now become eligible for additional reform linked borrowing. Thus, ..

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What are Off-Budget Borrowings?

January 28, 2021

The Government of India is all set to present the Union Budget 2021 on February 1, 2021. This year, the focus of the budget will be on off-budget borrowings so as to reduce the Fiscal Deficit. What are off-budget borrowings? ..

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What is Economic Survey?

January 27, 2021

The economic survey for 2020-2021 will be tabled in the parliament on January 29, 2021 days before the presentation of Union Budget on February 1, 2021. Key Facts The Economic survey will be released with the focus on the impact ..

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

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 ..

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

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 ..

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GoI: No New Schemes for a year

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 ..

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Status Paper on Government Debt released

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 ..

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