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Latest Articles in finance ministry

RBI Leaves Key Rate Unchanged; Easing Warranted, Fumes Govt

Reserve Bank Governor Urjit Patel-led Monetary Policy Committee, in a slightly less hawkish policy statement, said it was not cutting interest rates as it wanted to be more sure that inflation will stay subdued.

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Abolished Various Cesses Via Budgets Paving Way For GST: Govt

The Finance Ministry said it has gradually abolished various cesses on goods and services in the last three Budgets, and 13 more through the Taxation Laws Amendment Act 2017, in the run up to the July 1 rollout of GST

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GST To Ease Tax Rates On Medicaments, Smart Phones, Medical Devices

The present total tax incidence on smart phones works out to more than 13.5%. As against this, the proposed GST rate for smart phones is 12%.

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Will The GST Rate Of Over 28% Give A Boost To Car Sales?

The finance ministry has finally announced a uniform rate on 1,211 items that will be levied from 1 July 2017 under the goods and services tax bill. But before the simplified taxation system arrives, BW Businessworld did a deep-dive study to discern whether the rates are actually industry-friendly and will go a long way in giving a fillip to sales

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I Voluntarily Gave Up Rail Budget, Says Suresh Prabhu

Railways Minister Suresh Prabhu on Wednesday said he himself had volunteered for clubbing of railways budget with the General Budget, and it was "not a take over" by the Finance Ministry

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EPFO To Provide 8.65% Interest On EPF For FY'17, Says Labour Minister Dattatreya

About 4 crore subscribers of EPFO will get 8.65 per cent interest on provident fund deposits for 2016-17, as decided by the organisation's trustees in December, Labour Minister Bandaru Dattatreya said

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Govt Exceeds FY17 Tax Collection Target At Rs 17.10 Lakh Crore

The government has exceeded the tax collection estimates for 2016-17 fiscal at Rs 17.10 lakh crore. The revised estimates provided in Budget on February 1 had projected tax collections of Rs 16.97 lakh crore

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Finance Ministry Calls Banks To Discuss New Facility To Drain Cash

The finance ministry has called bankers into a meeting on Friday to discuss setting up a new facility to absorb surplus cash in the banking system

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Banks' Stressed Loans Rise To $147.33 Billion As Of December 2016

As of end-September, the banks' total stressed loans were 8.97 trillion rupees, according to data from the Reserve Bank of India

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NPAs At Record High: PAC For Naming And Shaming Defaulters

According to the Finance Ministry data, the NPAs of the country's largest lender State Bank of India is Rs 97,356 crore, followed by Rs 54,640 crore of Punjab National Bank and Rs 44,040 crore of Bank of India

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Tax Filings, Refunds See Huge Surge

More Indians filing tax returns and over 58% growth in tax refunds in past three years augurs well for the economy

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Income Tax Department Extends Response Window On Deposit Details To February 15

The I-T department has extended the date for replying to the queries on cash deposits during the demonetisation period to February 15 and asked people to declare details of cash donations or gifts of Rs 20,000 or more to reduce the chances of further scrutiny

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Ajay Tyagi To Head Capital Markets Regulator Sebi

The government has appointed senior finance ministry official Ajay Tyagi as the chairman of its capital markets regulator for a five-year term

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