The Finance Ministry has reported to the Lok Sabha that public sector banks (PSBs) have transferred over ₹45,000 crore in unclaimed deposits to the Depositor Education and Awareness (DEA) Fund during the period from 2019-20 to 2024-25 (up to December 31, 2024). This fund is managed by the Reserve ...

The Union Budget of India, known as the Annual Financial Statement under Article 112 of the Constitution, is prepared by the Ministry of Finance for the upcoming financial year. It details the government's planned expenditures, anticipated revenues, and economic strategies. The budget is unveiled ...

Arunish Chawla, a senior IAS officer of the 1992 batch from the Bihar cadre, has been appointed as the new Revenue Secretary in the Ministry of Finance. This follows the vacancy created after Sanjay Malhotra’s appointment as RBI Governor. Chawla will take charge from Ajay Seth, who had been ...

Union Finance Minister Nirmala Sitharaman inaugurated five specialized “Nari Shakti” branches of Union Bank of India in Bengaluru, Chennai, Visakhapatnam, and Jaipur. These branches aim to boost financial inclusion and support for women entrepreneurs, especially in the manufacturing and service ...

Oil India Upgraded to Maharatna, ONGC Videsh to Navratna by Finance Ministry: The Finance Ministry of India promoted two large oil sector businesses, Oil India and ONGC Videsh, to the prestigious Maharatna and Navratna categories, providing them greater autonomy for investment, joint venture ...

Finance Ministry appoints SEBI ED Pramod Rao to IFSCA Board: Pramod Rao, Executive Director of SEBI, has been appointed to the Board of the International Financial Services Centre Authority (IFSCA) by the Finance Ministry. Rao has replaced Sujit Prasad, Executive Director SEBI, who was appointed ...

Gross GST Collection in June Reaches ₹1.61 Trillion, Marking Fourth Occurrence Above ₹1.60 Trillion: According to the Ministry of Finance, India's Goods and Services Tax (GST) collection for the month of June was $1.61 trillion. This is a remarkable 12% increase above GST income collected in the ...

GAIL Achieves Authorized Economic Operator (AEO) T3 Status: The Central Board of Indirect Taxes and Customs, Ministry of Finance, has granted GAIL India Limited, a leading natural gas firm in India, the renowned Authorised Economic Operator (AEO) T3 designation. This recognition marks the highest ...

Journalist A.K. Bhattacharya authored a new book titled “India’s Finance Ministers”

Net direct tax collections at Rs 16.6 lakh crore in 2022-23, up 160% from 2013-14: The Finance Ministry has revealed time series data demonstrating a huge growth in net direct tax revenues, which increased by 160% from Rs 6,38,596 crore in 2013-14 to Rs 16,61,428 crore in 2022-23. Gross direct tax ...