Ministry of Finance

During the April-December 2023 period, gross GST collection witnessed a robust 12% y-o-y growth, reaching ₹14.97 lakh crore, as against ₹13.40 lakh crore collected in the same period of the previous year (April-December 2022). The average…

Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman chaired a meeting to review the performance of Public Sector Banks (PSBs) on various parameters, in New Delhi, today. The meeting was also attended by Union Minister…

Virtual Digital Assets Service Providers (VDA SPs) were brought into the ambit of Anti Money Laundering/Counter Financing of Terrorism (AML-CFT) framework under the provisions of the Prevention of Money Laundering Act (PML) Act, 2002 in…

Section 194-O of the Income-tax Act, 1961 (‘the Act’) provides that an e-commerce operator shall deduct income-tax at the rate of one per cent of the gross amount of sale of goods or provision of service, or both, facilitated through its…

In view of the forthcoming festivities and the New Year, the Union Government has authorised the release of an additional installment of tax devolution amounting to ₹72,961.21 crore to strengthen the hands of State Governments for financing…

The Government of India today signed an agreement with Asian Development Bank (ADB) to avail a USD 100 million loan to improve urban services and tourism facilities in the northeastern state of Tripura. The signatories to the loan…

In a significant step towards fostering collaboration between the public and private sectors in infrastructure capacity-building, Shri Ajay Banga, President, World Bank Group, launched the Public-Private Partnership (PPP) Beginner’s…

In the light of the International Monetary Fund’s latest Article IV consultations with India, certain presumptions have been made taking into account possible scenarios that does not reflect factual position, which is as follows:…

“On December 13, 2023, we, Shri Sanjay Malhotra, Revenue Secretary, Ministry of Finance, Government of India, and U.S. Treasury Under Secretary for Terrorism and Financial Intelligence, Mr. Brian Nelson, reconvened and co-chaired the…

The Government of India and the Asian Development Bank (ADB) today signed agreement for availing of a $200 million loan from the Asian Development Bank (ADB), to improve the quality, efficiency, and reliability of power supply in the state…