Tag Archives: banking finance

CBDT issues refunds of Rs 1.12 lakh crore to 91.30 lakh taxpayers

The Central Board of Direct Taxes (CBDT) has issued refunds of over Rs 1,12,400 crore to more than 91 lakh taxpayers from April 1 to November 1, the Income Tax Department said on Wednesday. “CBDT issues refunds of over Rs … Continue reading

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India, ADB sign USD 251 mn loan for urban flood management in Chennai

India and multilateral lending agency ADB on Thursday signed a USD 251 million loan for strengthening the resilience of Chennai city to floods. “The Government of India and the Asian Development Bank (ADB) today signed a USD 251 million loan … Continue reading

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Finance Ministry releases Rs 9,871 crore grant to 17 states

The Finance Ministry on Monday said it has released Rs 9,871 crore of revenue deficit grant to 17 states. The states which will receive money from the grant as recommended by the 15th Finance Commission are Andhra Pradesh, Assam, Haryana, … Continue reading

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India’s external debt prudently managed despite Covid-19: FM Nirmala Sitharaman

India’s external debt continues to be sustainable and prudently managed despite the Covid-19 pandemic, finance minister Nirmala Sitharaman said in a foreword to a status report released on Wednesday. The report put the total external liability at $570 billion at … Continue reading

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Looking forward to investing ‘even more’ in India: Bain Capital leadership after meeting with Sitharaman

American private investment firm Bain Capital, with investments of about USD 5 billion in Indian companies, is looking forward to investing “even more” in the country and the next decade will be very important for both India and the US … Continue reading

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India’s tax revenues likely to beat forecast on strong recovery – officials

India’s government expects tax revenues for the current financial year to be 10% above budget, beating forecasts for the first time in four years, two officials said, as the economy powers back towards pre-pandemic levels. Tax revenues, budgeted at 15.45 … Continue reading

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Same GST slab for ice-cream sold anywhere: Finance ministry

The government said on Wednesday that ice cream is the same whether it is sold inside an ice-cream parlour or outside, and should attract the same rate of goods and services tax (GST). The government said a GST of 18% … Continue reading

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US’ huge investment surplus can be used in India’s infra sector: Piyush Goyal

Commerce and industry minister Piyush Goyal on Thursday said that the US has huge investment surpluses that can be used to develop infrastructure in India and make it a manufacturing base, to provide goods and services at affordable and competitive … Continue reading

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AIIB to support India in improving healthcare infrastructure

Multilateral development bank Asian Infrastructure Investment Bank (AIIB) on Tuesday said it will support India in ramping up its healthcare infra facilities to meet future health challenges. The Beijing-based funding institution said it is working with the Indian government to … Continue reading

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Forex reserves down by USD 1.169 billion to USD 637.477 billion

The country’s foreign exchange reserves dipped by USD 1.169 billion to stand at USD 637.477 billion in the week ended October 1, RBI data showed on Friday. In the previous week ended September 24, 2021, the reserves had declined by … Continue reading

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