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.
In a statement the Finance Ministry said the states completing One Nation One Ration Card system reform are eligible for additional borrowing of 0.25 per cent of Gross State Domestic Product (GSDP).
Seventeen rounds of borrowings have been completed so far starting from 23rd October, 2020.
Amount of Rs 4,597.16 crore has been released to 23 states and an amount of Rs 402.84 crore has been released to 3 Union Territories.
The infusion will be done after the supplementary demands for grants is passed by parliament which will reconvene on March 8.
Reports suggested the government has received permission for the same from both the Houses of Parliament.
