New Delhi, June 12 (IANS) The government has exempted customs duty on imports of specified goods used for nuclear power generation for the period from April 1, 2019, to January 31, 2026.The exemption was notified by the Ministry of Finance and applies retrospectively, effectively removing customs liability on eligible imports made during the nearly seven-year period.According to the notification, the relief covers imports of non-irradiated fuel elements and cartridges used in nuclear reactors.Th…
Latest Ministry of Finance News & Updates
New Delhi, June 11 (IANS) The government has exempted petrol blended with higher levels of ethanol from excise duty, including fuel variants containing 22 per cent, 25 per cent, 27 per cent and 30 per cent ethanol, according to a notification issued by the Ministry of Finance on Thursday.As per the notification, excise duty has been set at nil for ethanol-blended motor spirit conforming to Bureau of Indian Standards specifications, covering blends where ethanol content ranges from 22 per cent to…
New Delhi, June 10 (IANS) The Emergency Credit Line Guarantee Scheme (ECLGS) 5.0 has crossed a major milestone, with the total number of guarantees issued under the scheme surpassing the one lakh mark, according to official data released on Wednesday.As of June 9, 2026, a total of 1,06,549 guarantees have been issued under ECLGS 5.0, covering guarantees worth Rs 48,484.26 crore, the Ministry of Finance said.The achievement highlights the extensive scale of credit support being provided to lender…
New Delhi, June 8 (IANS) Direct Benefit Transfer (DBT) has transformed the way welfare schemes are delivered in India, with more than Rs 50 lakh crore transferred directly into beneficiary accounts and leakages worth over Rs 4.31 lakh crore prevented, the government said on Monday, highlighting the system’s role in improving efficiency, transparency and financial inclusion.In a post on social media platform X, the Ministry of Finance said that DBT has fundamentally reshaped welfare delivery by…
New Delhi, June 6 (IANS) The government on Saturday dismissed media reports claiming that the Ministry of Finance’s secured printing press may be used to print question papers for the NEET-UG re-examination, calling the claims fake.In a post on social media platform X, PIB Fact Check said reports circulating in sections of the media linking the Finance Ministry to printing of NEET-UG re-examination papers were incorrect.“Several sections of the media are claiming that the NEET-UG re-examinat…
New Delhi, June 2 (IANS) The government has invited applications for two whole-time member (WTM) positions at market regulator Securities and Exchange Board of India (SEBI), with the Department of Economic Affairs (DEA) setting June 30 as the deadline for submissions.In a recent notification, the DEA — which comes under the Ministry of Finance — said that selected candidates will have the option to receive pay equivalent to that of an additional secretary to the government or opt for a consoli…
New Delhi, May 31 (IANS) The Central government has revised export levies on petrol, diesel and aviation turbine fuel (ATF) for the fortnight beginning June 1.The duty has been set at Rs 1.5 per litre on petrol exports, Rs 13.5 per litre on diesel exports and Rs 9.5 per litre on ATF exports, as per an official notification. However, the Centre has left excise duty rates on petrol and diesel sold in the domestic market unchanged.According to the notification, the revised rates have been prescribe…
New Delhi, May 29 (IANS) India and Vietnam have taken a major step towards strengthening cooperation in digital payments and financial innovation, with the Reserve Bank of India (RBI) and the State Bank of Vietnam (SBV) signing a Memorandum of Understanding (MoU), the Ministry of Finance said on Friday.The agreement, signed with the approval of the Union Cabinet, aims to deepen collaboration in areas such as financial innovation, regulatory coordination, information sharing, and digital payment …
New Delhi, May 24 (IANS) Union Education Minister Dharmendra Pradhan on Sunday spoke with the Union Finance Minister Nirmala Sitharaman in view of the payment-related issues being faced by students during the Central Board of Secondary Education (CBSE) post-result and re-evaluation process and both agreed to involve State Bank of India (SBI) and three other Public Sector Banks (PSBs) to weed out glitches. During the discussion, it was decided that four PSBs — SBI, Bank of Baroda, Canara Bank an…
New Delhi, May 24 (IANS) In response to widespread technical and payment-related issues faced by students during the CBSE post-result and re-evaluation process, Union Education Minister Dharmendra Pradhan on Sunday held discussions with Union Finance and Corporate Affairs Minister Nirmala Sitharaman to address the concerns and improve the system.Following the meeting, it was decided that four major public sector banks — State Bank of India, Bank of Baroda, Canara Bank and Indian Bank — will ex…