New Delhi, April 29 (IANS) While the West Asia conflict constitutes a significant supply shock with rising risks to inflation, trade, and financial flows, India’s domestic demand, policy buffers, resilient financial system, and sustained public investment provide some insulation, the Finance Ministry’s Monthly Economic Review for the month of April said on Wednesday.Whether these factors would prove adequate in the event of prolonged uncertainty about energy and fertiliser supplies is an impor…
Latest Finance Ministry News & Updates
Kathmandu, April 28 (IANS) Nepal’s prolonged sluggish economic growth is likely to continue in the current fiscal year 2025-26, with the National Statistics Office projecting growth at 3.85 per cent on Tuesday. Though this is slightly higher than the government’s revised projection of 3.5 per cent made in February, it reflects the continuing low-growth trajectory since Covid-19 struck the country in fiscal year 2019-20, when the economy contracted by 2.37 per cent.Nepal’s Finance Ministry stat…
New Delhi, April 26 (IANS) Nepal is facing an ever-widening trade deficit with China as it imports goods such as electronics, machinery, vehicles and textiles from the neighbouring country, while its exports, in return, are a small fraction of this amount, an article noted.The asymmetry is stark as in the first half of the financial year 2025-26, Nepal’s imports from China exceeded Rs 195 billion, while exports to China amounted to a small percentage, according to the article in Eurasia Review…
New Delhi, April 21 (IANS) The government on Tuesday organised an outreach programme here to promote financial literacy and create awareness about the newly-introduced Income Tax Act, 2025, with particular focus on provisions relating to educational institutions and charitable trusts.Pallavi Agarwal, Principal Chief Commissioner of Income Tax (Exemptions), highlighted the key features of the Income Tax Act, 2025 and emphasised that the new legislation seeks to simplify procedures, reduce ambigui…
New Delhi, April 21 (IANS) The government is preparing to roll out an expanded version of the India Semiconductor Mission ‘ISM 2.0’ likely by May, with a proposed outlay ranging between Rs 1 lakh crore and Rs 1.2 lakh crore.According to the NDTV Profit report, inter-ministerial consultations are currently underway, while the Ministry of Electronics and Information Technology (MeitY) is awaiting final approval from the Finance Ministry.The proposed allocation is significantly higher than the Rs 7…
New Delhi, April 15 (IANS) The Finance Ministry’s Department of Financial Services Secretary, M. Nagaraju, on Wednesday launched two next-generation mobile applications of Life Insurance Corporation of India — ‘MyLIC’ for policyholders and ‘Super Sales Saathi’ for sales intermediaries — as part of efforts to accelerate the insurer’s digital transformation.In his remarks on the occasion, Nagaraju described the development as a strategic inflection point in LIC’s digital journey.”LIC…
New Delhi, April 12 (IANS) The Finance Ministry clarified on Sunday that it had sent an advisory to states to align their bonus policy to promote pulses, oilseeds, and millets, in line with the national priorities for nutritional security, self-reliance, and the need to reduce dependence on imports, and this was not a directive as alleged by Tamil Nadu Chief Minister M.K. Stalin.Recently, Chief Minister Stalin, in a speech, had referred to a letter issued by the Ministry’s Department of Expendit…
Seoul, April 12 (IANS) South Korea’s national debt is projected to approach 60 per cent of its gross domestic product (GDP) by 2030, government data showed on Sunday, with the pace of increase widely expected to accelerate amid slowing growth and growing fiscal burdens.The country’s debt-to-GDP ratio stood at 49 percent last year, up 3 percentage points from a year earlier, according to the national settlement report from the finance ministry, reports Yonhap news agency.The increase marks the la…
New Delhi, April 9 (IANS) Looking to check cyber frauds and financial crimes, the Union Home Ministry’s Indian Cybercrime Coordination Centre (I4C) signed an Memorandum of Understanding (MoU) with the Finance Ministry’s Financial Intelligence Unit-India (FIU-IND) to enhance information sharing and coordination, an official said on Thursday.The MoU aims to enable both agencies to establish robust feedback mechanisms for enhancing fraud detection protocols at the national level, the official s…
New Delhi, April 2 (IANS) The Centre has rolled out a series of relief measures aimed at shielding Indian industry and consumers from the adverse economic impact of the Iran war, which has disrupted supply chains and hit exports.The Finance Ministry has outlined steps spanning customs duty cuts for key raw materials, export incentives, fuel price controls, and financial support mechanisms, with a focus on ensuring stability across key sectors.The Government has allowed Special Economic Zone (SEZ…