With the US and European nations blocking major Russian financial institutions from SWIFT, those entities on the sanctions list are unable to receive confirmations for fund transactions executed through the globally accepted messaging network.
The US Federal Reserve has raised interest rates by 25 basis points, the first hike since 2018. What impact has this had on markets? Will it impact the Reserve Bank of India's monetary policy decision?
Finance Ministry expects oil prices to cool off in the next 2-3 months as the impact of the geopolitical tensions may get eased by higher production from the United States and the OPEC member countries.
To be fully owned by the Centre, under the administrative jurisdiction of the Finance Ministry, NLMC will have an initial authorised share capital of Rs 5,000 crore and paid-up share capital of Rs 150 crore.
Government-led spending plans, leveraging infrastructure and capital expenditure to revive growth in the Budget for next fiscal, runs the risk from the uncertainties emanating from the ongoing Russia-Ukraine conflict.
Wheat prices have skyrocketed globally due to the geopolitical situation, especially since Russia and Ukraine are the world’s second-largest and fourth-largest wheat exporters, respectively
The DEA is working closely with Sebi. Such an entity is being seen as crucial especially during times of stress in financial markets, which freezes liquidity sometimes even for investment-grade bonds.
A customer can check her credit score and whether any loan (which has not be taken) is outstanding through the reports furnished by respective credit information bureaus.
As per the findings of an RBI Working Group, released in November 2021, as many as 600 out of 1100 lending apps currently available for Indian Android users across 80 application stores are illegal apps.
“The change in FDI policy is sufficient to facilitate foreign investment in LIC up to 20 per cent,” said a government official noting that an amendment to the LIC Act, 1956, was not required.
'Why should it be in the Union’s interest that you cannot prepay? On what logic does it make sense? what purpose is served by not allowing prepayment?'
States are flagging specific concerns about how the 50-year loans, specifically earmarked for capex in the budget for next fiscal, will “tie them up” as per the Constitutional obligation under Article 293 (3), under which they need to seek the Centre’s permission for any borrowing in future.
India CPI Inflation Rate January 2022: The retail inflation which is measured by the Consumer Price Index (CPI) for December 2021 was revised to 5.66 per cent from 5.59 per cent, government data revealed.
Grants released under NAFCC fell from Rs 115.36 crore in 2017-18 to Rs 42.94 crore in 2020-21, and Rs 27.76 crore (till December 2021) in the current year.
There is a view that fiscal consolidation has been on the lower side and gross market borrowing is higher than expected. Could it crowd out private investment?
"The department is in a very good space right now. Unlike last year, and before that one, when we were struggling for collections. This year collections have been good thankfully and hopefully another three months will go in this manner," Central Board of Direct Taxes (CBDT) Chairman JB Mohapatra said.
Nirmala Sitharaman was responding to a specific query from Bajaj Finserv CMD Sanjiv Bajaj regarding the timeline for privatisation of two-state owned banks and one general insurance company.
'We believe there is sufficient capacity in today’s India to have multiple players who can think along these lines, build large infrastructure, manage large companies as well as large shareholders.'
The government will also file the Draft Red Herring Prospectus (DRHP), or the primary prospectus, of Life Insurance Corporation (LIC) with the market regulator next week, and expects to list it on stock exchanges by the end of the financial year.
"For excise duty, we have taken a hit of about Rs 50,000-60,000 crore and for customs duty it was overall Rs 18,000-20,000 crore," says Revenue Secretary Tarun Bajaj.
Making a retrospective amendment to the Income-tax Act from 2005-06, the Budget clarified that cess and surcharge will not be allowed to be claimed as deductions in the form of expenditure.
While Finance Minister Nirmala Sitharaman had set a target of Rs 1.75 lakh crore through disinvestment in the Budget estimates in 2021-22, the target has now been revised to Rs 78,000 crore. And for the year 2022-23, she has set a softer target of Rs 65,000 crore.