The Tamil Nadu government has reduced the annual revenue deficit by about Rs 30,000 crore in the revised estimates of the current year, from about Rs 62,000 crore inherited when the DMK assumed office nearly two years ago, Finance Minister Palanivel Thiaga Rajan said on Monday. Presenting a tax-free budget for 2023-24 in the Assembly, … Read more
The income tax department raised tax demands amounting to Rs 13,566 crore during the last four financial years under the black money law to deal with undisclosed foreign income and assets, the government told Parliament on Monday. In a written reply to a question in the Lok Sabha, Minister of State for Finance Pankaj Chaudhary … Read more
Bengaluru: The global economic outlook has improved in recent months, but uncertainties still remain, RBI Governor Shaktikanta Das said on Friday as he called upon G20 nations to resolutely address the challenges, including debt distress and threats to financial stability, confronting world economies. Addressing the inaugural session of the meeting of G20 finance ministers and … Read more
Finance Minister Nirmala Sitharaman on Friday highlighted rising debt vulnerabilities in many developing countries and sought views from G20 member nations on ‘multilateral coordination’ for managing the burden. Speaking at inaugural session of the G20 finance ministers and central bank governors (FMCBG) meeting, Sitharaman also sought views on how multilateral development banks, like the IMF … Read more
The finance ministry has stepped up the scrutiny of capital expenditure by various departments like never before to ensure they utilise the funds on time and help stimulate growth, officials said. Spending by states, which will get 13% of the Centre’s FY24 budgetary capex outlay in the form of long-term, interest-free loans for asset creation, … Read more
The second leg of the Budget session will commence on Monday with the government asserting that its priority is to pass the Finance Bill and the Opposition planning to raise issues like the action of central agencies against the BJP’s political rivals and allegations against the Adani group. The opposition parties will meet on Monday … Read more
The government has released the 14th instalment of tax devolution of more than Rs 1.40 lakh crore to states. “The Union Government has released 14th instalment of tax devolution to state governments amounting to Rs 1,40,318 crore today, as against normal monthly devolution of Rs 70,159 crore,” the finance ministry said in a statement on … Read more