Union Ministry of Finance Current Affairs, GK & News

Govt scraps import duty on open cell TV panel used to make TV sets

In a bid to boost domestic manufacturing, the Central government has removed 5% custom duty that was imposed on import of open cell TV panel. Open cell TV panel are used in manufacturing of television sets such as LED TVs. Key Highlights As per the notification issued by Union Ministry of Finance in this regard ..

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Centre sets up Task Force for drawing up National Infrastructure Pipeline

Central government constituted a task force for drawing up a roadmap for ‘National Infrastructure Pipeline’ (NIP) of Rs.100 lakh crore from financial year 2019-20 to 2024-25. The Task Force is headed by Economic Affairs Secretary Atanu Chakraborty would cover greenfield and brownfield projects costing above `Rs.100 crore each. About Task Force Objective: To identify technically ..

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India to conduct 1st National Time Release Study for faster movement of Cargo

Department of Revenue, under Union Ministry of Finance, is conducting India’s 1st National Time Release Study (TRS) for enabling faster movement of cargo across borders to benefit traders. TRS is an internationally recognized tool advocated by Brussels based World Customs Organization (WCO) to measure efficiency and effectiveness of international trade flows. National Time Release Study ..

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Girraj Prasad Gupta takes over as the Controller General of Accounts

Girraj Prasad Gupta took over as Controller General of Accounts (CGA), Department of Expenditure, Union Ministry of Finance with effect from 1 August 2019. He is 1983-batch Indian Civil Accounts Service (ICAS) Officer. He is highly credited for his work in development and implementation of Public Financial Management System (PFMS), a backbone IT infrastructure for ..

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Key Highlights of Union Budget 2019-20 (Part 2)

TAXES Direct Taxes Performance: India’s Ease of Doing Business (EDB) ranking under ‘Paying Taxes’ category jumped from 172 in 2017 to 121 in 2019. In past 5 years, Direct tax revenue increased by over 78% to Rs. 11.37 lakh crore Tax Slabs: For companies with annual turnover of up to Rs.400 crore, Tax rate reduced ..

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