Finance Ministry to hold meeting of heads of banks on Wednesday
The Finance Ministry is set to review the development of variousfinancial inclusion schemes as it has called a meeting of heads of Public Sector Banks (PSBs) on Wednesday.
The Finance Ministry is set to review the development of variousfinancial inclusion schemes as it has called a meeting of heads of Public Sector Banks (PSBs) on Wednesday.
The Confederation of Indian Industry (CII) has suggested a seven-point agenda to the Finance Ministry for the Union Budget-2025.
The Finance Ministry said that the government will continue its focus on improving quality spending, strengthening the social security net and bringing down the fiscal deficit to 4.5 per cent of the GDP in FY26.
Sufficient food grain buffer stock and optimism for a healthy kharif harvest are likely to alleviate price pressures, a recent report by finance ministry said.
Furthermore, during the past 5 months (April-August) of the current financial year 2024-25, the transaction volume has reached to 8,659 crore, it added.
The Income Tax Department has identified some persons and entities whose payment of taxes for financial year 2023-24 is not commensurate with the financial transactions made by them during this period, the Finance Ministry said on Sunday.
The meeting was attended by Chairpersons of Debt Recovery Appellate Tribunals (DRATs) and Presiding Officers of Debt Recovery Tribunals (DRTs).
In a significant move towards curtailing the prices of mobile phones, the Finance Ministry has slashed import duties by 5 per cent on various components required for mobile handsets.
The Finance Ministry’s review of the Indian Economy, a document which runs over 70 pages, takes stock of the state of the country’s economy and its journey in the last 10 years.
The decline in the youth unemployment rate has been led by the states with a larger share of the young population, the Finance Ministry said in a review of the Indian economy.
