New Delhi, May 25 (IANS) The government has shortlisted Coal India Ltd (CIL), Life Insurance Corporation (LIC), the Indian Overseas Bank (IOB), and the Indian Railway Finance Corporation (IRFC) among the public sector enterprises for the sale of shares in the stock market through a phased offer in the first two quarters of FY27, according to a report.The offers for sale will be calibrated with stable market conditions as the government wants to avoid any volatility before it proceeds to offload …
Latest Finance Minister Nirmala Sitharaman News & Updates
New Delhi, May 22 (IANS) State Bank of India (SBI) on Friday announced that the two-day nationwide strike proposed by the All India State Bank of India Staff Federation (AISBISF) for May 25 and 26 has been deferred following discussions between employee representatives and the bank’s management, ensuring uninterrupted banking operations across the country.In a customer advisory, the country’s largest public sector bank informed customers that all branches and banking services would function norm…
New Delhi, May 9 (IANS) Three Jan Suraksha Schemes, which completed 11 years of providing social security cover, have reached 94.5 crore in cumulative enrolments, the government said on Saturday.Launched on May 9, 2015 by Prime Minister Narendra Modi, the schemes — Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), and Atal Pension Yojana (APY) — were envisioned to extend affordable financial protection to all, particularly the underserved and vulne…
New Delhi, April 18 (IANS) The fact-checking unit of the Press Information Bureau (PIB) has dismissed reports circulating online, which claimed that the Reserve Bank of India (RBI) has introduced new guidelines permitting the exchange of discontinued currency.The fact-checking unit dismissed these claims as fake, clarifying that the RBI has made no such announcement.“Some news reports claim that the Reserve Bank of India (RBI) has issued new guidelines to exchange discontinued currency notes. …
New Delhi, April 1 (IANS) The Central Board of Direct Taxes (CBDT) has amended income tax rules to provide clarity on the applicability of General Anti-Avoidance Rules (GAAR), in a move aimed at reducing ambiguity around tax avoidance provisions.In its notification, the CBDT said that GAAR will not apply to income arising from the transfer of investments made before April 1, 2017. The amendment will come into effect from April 1, 2026.The clarification is expected to provide certainty to investo…
New Delhi, March 31 (IANS) The government has notified the Finance Act 2026 to bring into effect the financial proposals of the Union Budget for 2026-27.A gazette notification issued by the Ministry of Law and Justice stated: “The Finance Act 2026 received the assent of the President on March 30, 2026 and is hereby published for general information.”The Parliament on Friday approved the Finance Bill 2026 with the Rajya Sabha returning it to the Lok Sabha by a voice vote, completing the legislati…
New Delhi, March 31 (IANS) As India approaches the new fiscal year FY27, the country’s direct tax system is set for a major overhaul from April 1, 2026, with the new Income Tax Act, 2025, coming into force — replacing the six-decade-old 1961 legislation and introducing changes in compliance, terminology and taxation.Major reform under the new framework is the replacement of the ‘Financial Year’ (FY) and ‘Assessment Year’ (AY) with a single ‘tax year’, which could simplify the filing process a…
New Delhi, March 30 (IANS) The Enforcement Directorate has investigated 1,105 bank fraud cases under the Prevention of Money Laundering Act (PMLA) and has attached proceeds of crime worth Rs 64,920 crore, Finance Minister Nirmala Sitharaman said in the Lok Sabha on Monday. She also said that action had been taken under the Fugitive Economic Offenders Act (FEOA) against those evading Indian law by staying abroad.This was a reference to high-profile cases such as the Nirav Modi case, including …
New Delhi, March 30 (IANS) The Lok Sabha on Monday approved the Insolvency and Bankruptcy Code (Amendment) Bill, aimed at speeding up insolvency proceedings to resolve cases related to defaulting companies.The Bill introduces a mandatory 14-day timeline for admitting insolvency applications once a company’s default has been established.Finance Minister Nirmala Sitharaman said that the government has proposed a set of 12 amendments to the Insolvency and Bankruptcy Code to further strengthen the…
New Delhi, March 27 (IANS) Amid rising crude prices and mounting pressure on oil retailers, the Centre’s Rs 10 per litre excise duty cut on petrol and diesel signals both near-term relief for consumers and a potential impact on one of its key revenue streams. Under the revised rates, excise duty on petrol has been reduced to Rs 3 per litre, while diesel has effectively been exempted.The decision comes against the backdrop of elevated global crude oil prices due to the ongoing West Asia conflic…