New Delhi, July 4 (IANS) The landmark India-Israel bilateral investment agreement (BIA), which was signed on September 8, 2025, came into force on Saturday.The trade pact is a significant step towards strengthening bilateral economic relations and ensuring a secure and predictable investment climate.“The BIA is robust in protection of Investment and Investor with respect to their investments while being flexible enough to retain sovereign policy space in line with legitimate public policy obj…
Latest Finance Ministry News & Updates
New Delhi, July 1 (IANS) India’s largest private fuel retailer, Nayara Energy, on Wednesday reduced petrol prices by Rs 5 per litre and diesel prices by Rs 3 per litre across its nationwide retail network, which is the first cut in retail fuel prices since global crude oil prices began easing following the de-escalation of tensions in West Asia.However, actual retail prices will vary across states depending on local taxes, including value-added tax (VAT).The revised rates have come into effect a…
New Delhi, July 1 (IANS) The government has revised the windfall tax on exports of petroleum products, raising the levy on petrol while reducing the duty on diesel and aviation turbine fuel (ATF), with the changes taking effect from Wednesday.According to a Finance Ministry notification, the revised rates — which came into effect from July 1 — increase the Special Additional Excise Duty (SAED) on petrol exports to Rs 4 per litre from Rs 1.5 per litre earlier.At the same time, the export duty o…
New Delhi, June 30 (IANS) The Finance Ministry on Tuesday said advanced technologies such as artificial intelligence (AI), machine learning and data analytics are playing a key role in strengthening Goods and Services Tax (GST) administration by helping authorities detect potential tax evasion while reducing compliance burdens for honest taxpayers.According to the ministry, these technologies are being deployed across critical processes, including GST registration and scrutiny, to analyse data p…
New Delhi, June 30 (IANS) The Finance Ministry’s Expenditure Finance Committee (EFC) has approved an outlay of Rs 1.25 lakh crore for the India Semiconductor Mission (ISM) 2.0, paving the way for the next phase of the country’s semiconductor manufacturing push, according to a report in NDTV Profit.The proposal was cleared by the committee last week and will now be sent to the Union Cabinet for final approval.The proposed outlay marks a significant increase from the Rs 76,000 crore allocated as p…
Mumbai, June 29 (IANS) HDFC Bank has appointed former Finance Secretary Rajiv Kumar as its new part-time Chairman for a period of three years, according to a regulatory filing made by the private sector lender on Monday. The appointment brings an experienced policymaker and former bureaucrat to the helm of the bank’s board at a time when the institution is focusing on strengthening governance and oversight.Kumar succeeds former chairman Atanu Chakraborty, who stepped down earlier this year citin…
Seoul, June 29 (IANS) South Korean stocks traded sharply lower on late Monday morning as investors remained cautious amid renewed concerns over the fragile US-Iran ceasefire and rising oil prices, with tech shares leading losses.The benchmark Korea Composite Stock Price Index (KOSPI) lost 170.78 points, or 2.03 percent, to 8,240.43 as of 11:20 a.m., after opening 0.91 percent lower, reports Yonhap news agency.Oil prices climbed after the United States and Iran exchanged fresh strikes over the we…
New Delhi, June 26 (IANS) The Parliamentary Standing Committee on Finance is scheduled to hold consultations with officials from the Reserve Bank of India (RBI) on July 2 in the national capital on the future regulatory framework for cryptocurrencies.According to a notification, the committee will be deliberating on the “oral evidence” of the representatives of the Reserve Bank of India (RBI) on the subject, ‘A Study on Virtual Digital Assets (VDAs) and Way Forward’.After the meeting with RBI of…
New Delhi, June 25 (IANS) The Employees’ Provident Fund Organisation (EPFO) on Thursday announced that several of its online services, including claim submission and e-passbook facilities, will remain temporarily unavailable from this week due to a scheduled system migration exercise.In a post on X, the EPFO said services on the Member Portal, Employer Portal and the UMANG App will be unavailable between June 26 and June 29 as part of a planned system migration.The temporary suspension is part o…
New Delhi, June 22 (IANS) The government on Monday trashed reports that it was planning an offer for sale of shares in Cochin Shipyard Ltd as part of the disinvestment programme. “No stake sale is planned in Cochin Shipyard at present,” a Finance Ministry official said, The clarification came after media reports, citing sources, said the Centre was considering an offer for sale (OFS) of a 6 per cent to 8 per cent stake in Cochin Shipyard. The reports said the transaction could raise more than Rs…