Tag: finance ministry
Income tax relief: Will Budget 2024 increase standard deduction under new income tax regime?
The finance ministry is considering raising the standard deduction limit for income taxpayers under the new regime, without changing the tax exemption-heavy old regime. The…
Space FDI: Finance ministry notifies FDI in space sector; gives better access to capital, say startups
The ministry of finance on April 16 notified Foreign Direct Investment (FDI) in the Space sector under the Foreign Exchange Management Rules which will now…
Startups: 1.14 lakh startups generate more than 12 lakh jobs in India: Finance ministry
More than 1.14 lakh startups in India have created over 12 lakh jobs so far, the Finance Ministry said in its latest review of the…
South Korea: South Korea focuses on fiscal discipline with smallest budget increase in two decades
SEOUL: South Korea‘s government plans to raise budget spending to nearly $497 billion for 2024, but the proposed increase is the smallest in two decades…
Global uncertainty may keep inflation elevated: Sitharaman
Global uncertainty and domestic disruptions may keep inflationary pressures elevated in coming months, the finance ministry said on Tuesday, adding that this warrants greater vigilance…
‘No plan to extend’: Deadline to exchange ₹2,000 notes on Sept 30, says FinMin
The finance ministry on Monday said there is no proposal to extend the deadline for the exchange of ₹2,000 notes beyond September 30, 2023. A…
India not considering tax waivers for Tesla, says top official
India’s finance ministry is not considering any duty waivers for U.S. automaker Tesla Inc, Revenue Secretary Sanjay Malhotra told Reuters on Thursday. The logo of…
Govt excludes overseas credit card spends from LRS in a mid-night notification
The finance ministry finally on midnight Friday amended foreign exchange management rules to exclude international credit card spends from the purview of liberalised remittance scheme…
‘States’ additional borrowings unlikely to hit yields on government securities’
New Delhi: The Centre’s move to allow states to borrow up to ₹1.43 lakh crore in FY24 if they pursue stipulated power sector reforms is…
Committee on review of pension system for govt employees consulting stakeholders: FinMin
The Finance Secretary-headed committee to review the pension system for government employees is in the process of consulting stakeholders and is yet to finalise its…