To make funds available to the Indian Railways, the ministry of finance has approved government guarantee of Rs 5,000 crore for bonds to be issued by Indian Railway Finance Corporation (IRFC) before the end of this fiscal.
India is on track to doubling the size of its economy to $5 trillion by 2025, the finance ministrysaid on Monday while asserting that the inflation target set by the Reserve Bank will not be breached.
This year’s Economic Survey published by the finance ministry has a stark message: climate change can dent farm incomes by as much as 25% in rain-fed areas over the medium term.
India, the largest importer of Chinese solar equipment, proposed a 70% safeguard duty on cells and modules shipped from China and Malaysia, citing “threat of serious injury” to the domestic industry.
The governments of India and Tamil Nadu on Tuesday signed an agreement with the World Bank for the multilateral lender to provide a $318 million loan for modernisation of irrigation projects in Tamil Nadu, improve market opportunities for small and marginal farmers and their adoption of climate resilient techniques.
Exporters have informed the finance ministry that goods and services tax refunds are getting delayed due to airline and shipping companies not submitting proof of export to customs and mismatches of invoice numbers in shipping bills and GST return forms.
The Finance Ministry refused to list out 34 power projects that defaulted on bank loans worth crores of rupees to a Parliamentary panel on Energy on Thursday.
In a relief to Indian Railway Catering and Tourism Corporation (IRCTC), the finance ministry has offered to reimburse the railways arm around Rs 80 crore to offset the losses due to waiver of service charges on tickets booked online through its portal.
States have refused the central government’s appeal to bring petroleum products under the ambit of Goods and Services Tax (GST) even as prices of petrol and diesel continue to skyrocket in contrast to global standards.
Consumers will continue to pay higher taxes on petrol and diesel as the government has no plans to lower the excise duty on fuel.