New Delhi, May 30 (IANS) If rainfall is deficient due to the development of El Nino in June, the transmission to food inflation, rural demand and aggregate growth could be swift, adding to the existing inflationary pressures stemming from elevated global energy prices, the Finance Ministry’s ‘Monthly Economic Review’ for May said on Saturday.Looking ahead, agricultural prospects for the upcoming kharif season are a source of both near-term comfort and medium-term caution, it said.”On the p…
Latest Finance Ministry News & Updates
New Delhi, May 30 (IANS) India’s macroeconomic position in the month of May reflects cautious resilience over strong services exports, adequate foreign exchange reserves and a stable labour market, Finance Ministry said in its ‘Monthly Economic Review’ on Saturday.However, the confluence of elevated global energy prices, a depreciating rupee, rising upstream cost pressures and the prospect of a below-normal monsoon calls for sustained policy vigilance, the Economic Review said. “Navigating FY2…
New Delhi, May 29 (IANS) Over Rs 6,800 crore hitherto stuck in unclaimed bank deposits has been restituted to nearly 29 lakh claimants across the country during the past six months as part of the stepped-up drive to help citizens recover their money, the Finance Ministry announced on Friday.Secretary, Department of Financial Services (DFS), M. Nagaraju, chaired a review meeting of public sector banks (PSBs) to assess their performance and progress across key operational, financial and strategic …
Seoul, May 29 (IANS) South Korea’s industrial output lost ground in April from a month earlier, data showed on Friday, with retail sales and facility investment sliding amid economic uncertainties stemming from tensions in the Middle East.Industrial production fell 0.6 percent last month from March, according to data from the Ministry of Data and Statistics, reports Yonhap news agency.Output in the mining and manufacturing sector, a key pillar of the economy, shed 0.7 percent from the previous m…
New Delhi, May 27 (IANS) The Central government on Wednesday sanctioned more than 1,200 additional investigators and staff for the Enforcement Directorate (ED), marking the first major restructuring of the anti-money laundering agency in 15 years which is aimed at enhancing its operational capacity.The Finance Ministry authorised the workforce to grow from 2,029 to 3,256, strengthening the core investigation team.The increase includes 803 Assistant Enforcement Officers, 606 Enforcement Officers,…
New Delhi, May 27 (IANS) Seven northeastern regional rural banks (RRBs) have reported a provisional consolidated net profit of Rs 560 crore during FY 2025–26, registering an impressive year-on-year growth of 34 per cent, according to the government.Further, the Gross Non-Performing Assets (GNPA) ratio has declined to 4.9 per cent, the lowest level recorded in the last decade, reflecting improved financial health and stronger asset quality, according to finance ministry.A regional review meetin…
New Delhi, May 23 (IANS) Assam Chief Minister Himanta Biswa Sarma on Saturday met the Union Finance Minister Nirmala Sitharaman in New Delhi and held extensive discussions on the state’s future growth trajectory, infrastructure expansion, and long-term economic development roadmap. The meeting, held at the official residence of the Union Finance Minister, focused on strengthening Centre-state cooperation and accelerating developmental initiatives aimed at transforming Assam into a major economic…
New Delhi, May 19 (IANS) Field Marshal Asim Munir is in complete control of Pakistan. The country may be ruled by a democratic government, but the fact is that the Pakistan Army under Munir is in complete control. However, even as Prime Minister Shehbaz Sharif and Asim Munir put up a united front, in reality there are tensions brewing over massive military spending.For the outside world, it appears as though everything is hunky-dory between the government and the Pakistan Army.While to a certain…
New Delhi, May 18 (IANS) Pakistan Railways is facing pending employee-related liabilities worth Rs 21.36 billion (Pakistani rupee), with dues of retired and serving staff remaining unpaid despite claims of improved financial performance, a report has said.According to official documents cited by SAMAA TV, a dispute has emerged between the Ministry of Railways and the Ministry of Finance over the release of funds required to clear the outstanding payments.The neighbouring country’s Railways Min…
New Delhi, May 18 (IANS) Markets will face pressure from rising rates and currency headwinds, impacting rate‑sensitive sectors such as banking, real estate and capital‑intensive industries, a report said on Monday.The report from Systematix Institutional Equities said as wholesale inflation surged in April and the rupee risks breaching Rs 100 and official CPI forecasts will soon touch 6 to 7 per cent.”The latest Rs 3 per litre fuel price hike, following the Prime Minister’s austerity appea…