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Finance-Economy-News-The Economic Times

Latest News and Analysis on Government Finances, Public Financing, Government revenue and spending, Bank Credit, Financial Regulation by government and central bank RBI's policy on banking.

Last Build Date: Thu, 30 Mar 2017 12:45:25 GMT

Copyright: Copyright:(C)2017 Bennett Coleman & Co. Ltd,

Aadhaar scheme helped government save Rs 34,000 crore: Finance Secy

Wed, 29 Mar 2017 19:25:35 GMT

(image) The government has proposed to make Aadhaar mandatory for securing a permanent account number and for filing income-tax returns from July.

Accruals from licence fee, spectrum charges slide during FY17

Wed, 29 Mar 2017 13:15:10 GMT

(image) Licence fee collections stood at Rs 3,975.67 crore during the first quarter, Rs 3,584.04 crore in the second quarter and Rs 3,450.13 crore in the third quarter of 2016-17.

Government to borrow Rs 3.72Lakh-crore in first half of FY2018

Tue, 28 Mar 2017 19:27:27 GMT

(image) The April-September borrowing is slightly more than previous year because the finance ministry and the Reserve Bank of India expect spending to pick up pace early.

Excess Rs 2.5-3 lakh crore in economy, need for digital push: Govt

Tue, 28 Mar 2017 16:15:21 GMT

(image) State Bank of India has published 9 research reports on the estimated cash supply by RBI after the demonetisation of old Rs 500 and Rs 2000 notes, announced on November 8, 2016.

Government to borrow Rs 3.72 lakh crore in April-September

Tue, 28 Mar 2017 15:02:46 GMT

(image) The borrowing in the April-September period will be a little higher as the finance ministry and the RBI foresee other ministries to start spending from the beginning of the fiscal.

Total valuation of enemy property in India Rs 1.04 lakh crore: Government

Tue, 28 Mar 2017 12:22:44 GMT

(image) Hansraj Ahir said the total number of immovable property with the custodian of enemy property is 9,280 which is spread over around 11,773 acres of land.

I-T department uncovers Rs 45,622 crore undisclosed income in 3 years

Fri, 24 Mar 2017 10:53:42 GMT

(image) Besides levy of taxes on the total income of 2,534 groups of persons, the ITD filed prosecution complaints in 2,432 cases, the government said.

LIC demands dues from Essar to give clearance to Rosneft-Essar deal

Thu, 23 Mar 2017 19:19:30 GMT

(image) The state-owned life insurer has spelt out that it would issue a ‘no-objection certificate’ (NoC) for the $13-billion deal only after Essar clears all dues.

Country's current account deficit widens as services exports and remittances slow down

Thu, 23 Mar 2017 17:41:30 GMT

(image) ​​As capital flows too slowed down, the overall balance of payments ended in a moderate deficit of $ 1.2 billion in the latest quarter.

Net forex reserves increase by $14.2 billion in April-December period

Thu, 23 Mar 2017 15:41:28 GMT

(image) In nominal terms, forex reserves decreased to USD 1.3 billion during reporting period against an increase of USD 8.7 billion a year ago.

Government sanctions Rs 5,021 crore to 10 states hit by disasters

Thu, 23 Mar 2017 13:59:12 GMT

(image) The High Level Committee, headed by Home Minister Rajnath Singh, approved the central assistance to Andhra Pradesh, Assam, Bihar, Himachal Pradesh, Karnataka, Manipur, Rajasthan, Tamil Nadu, Telangana and UP.

I-T sleuths dug up Rs 21,454 crore undisclosed income in two years

Tue, 21 Mar 2017 10:47:30 GMT

(image) "During the last two financial years, the ITD conducted searches in about 992 groups of persons which led to admission of undisclosed income of Rs 21,454 cr," Minister of State for Finance Santosh Kumar Gangwar said.

IFCI’s stake sale in lender TFCI worries tourism industry

Mon, 20 Mar 2017 19:57:54 GMT

(image) In existence for more than 25 years, TFCI is the only government promoted financial institution for funding tourism projects.

​ UDAY states see Rs 11,989-crore drop in interest cost

Mon, 20 Mar 2017 12:25:30 GMT

(image) "As per the information available, the interest cost of states participating in UDAY has reduced by Rs 11,989 crore, approximately for the first nine months of the current financial year compared to the financial year (2015-16)," Power Minister Piyush Goyal said.

Centre to infuse Rs 8,586 crore capital in 10 weak banks

Sun, 19 Mar 2017 11:48:13 GMT

(image) The infusion is subject to a tripartite agreement between the central government, banks and the unions for a time bound turn around programme, according to AIBEA.