The Ministry of Finance is an important ministry within the Government of India concerned with the economy of India, serving as the Indian Treasury Department.
The Centre on Monday decided to provide additional assistance of Rs 5,908.56 crore to seven disaster-hit states - Assam, Himachal Pradesh, Karnataka, Madhya Pradesh, Maharashtra, Tripura and Uttar Pradesh, officials said.
Finance Minister Nirmala Sitharaman, who will attain the distinction of presenting two budgets in less than a year, will be in focus in February as how she steers the economy out of one of the most challenging times.
Noting its crucial role in fighting climate change, the auto sector has urged the government to provide financial support for electric mobility and bring the much-awaited scrapping policy for old polluting vehicles.
Business chambers suggested various steps, like fiscal easing to improve tax collections and discussed bottlenecks facing the industry with Finance Minister Nirmala Sitharaman at the third pre-budget consultations here on Tuesday.
Union Finance and Corporate Affairs Minister Nirmala Sitharaman on Tuesday held her fourth pre-budget consultations with different stakeholder groups from agriculture and agro processing sectors in connection with the forthcoming General Budget 2020-21.
In a bid to help the NBFCs and real estate companies, the Centre is considering more relief measures for both stressed sectors. In the past few months the government has announced few measures to ease liquidity and the credit crunch in the economy.
In a bid to help the real estate companies access hurdle free funding without having the NPA tag and complete the unfinished projects, RBI is likely to consider proposals from finance ministry and Prime Minister's Office to let the banks take the decisions of not classifying them as default or special mention accounts (SMA) and go for one time recast of selective real estate companies' loans.
As talks between the Congress and NCP continue on a Common Minimum Programme, one factor causing unease is of Shiv Sena supremo Uddhav Thackeray pushing for his son Aditya Thackeray to be the Chief Minister of Maharashtra.
Congress interim President Sonia Gandhi held a meeting with senior party leaders A.K. Antony, Ahmed Patel, Mallikarjun Kharge and K.C. Venugopal on Tuesday as the Shiv Sena, Congress and NCP closed in on a deal for government formation in Maharashtra with the issue of power sharing among the three parties being resolved within.
Demonetisation came to haunt Finance Ministry officials all over again with a section of the lawmakers choosing the subject to grill the executive while raising questions whether the move taken three years ago was the prime reason for the current slowdown.