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The Latest Breaking News from Finance Ministry

Asian Shares Rally Led By Semiconductor Gains, Oil Prices Rise

Asian shares rise, U.S. markets climb. Earnings reports strong, Fed hints at high rates.

Top News

‘States welcome private investors, but push back on PSU privatisation’

Some State governments tend to have a “duality” in their approach towards the strategic disinvestment of public sector enterprises even as they go all out to attract private investors by holding large investment summits with offers of land parcels and myriad sops, a top Finance Ministry official flagged on Monday.

The Hindu

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Economic encomium: On the Finance Ministry’s 10-year review of the economy

In the the Finance Ministry’s 10-year review of the economy, India needs to grow faster to create jobs at the scale its youth need and ensure that a rising growth tide lifts most boats, if not all

The Hindu

India will remain fastest-growing major economy in FY'24: Finance Ministry report

India to remain fastest-growing major economy in FY24; domestic macro fundamentals strong, global headwinds and weather uncertainties pose downside risks. India's outlook bolstered by strong domestic fundamentals, investment demand, industrial growth, reservoir levels and forex reserves.

The Hindu

NL Interview: Ex-finance secy on policies, govt’s misadventures, ‘feisty’ Sitharaman

Former bureaucrat Subhash Chandra Garg’s new book We Also Make Policy unpacks the behind-the-scenes of India’s finance ministry — from policy matters to the ministers’ temperaments and even Garg’s equation with them.

Newslaundry

Inflation pressures may linger, but food prices to cool soon: FinMin

India's inflation woes may be transitory due to global uncertainties and domestic disruptions. The Finance Ministry noted the 11.5% food inflation rate and 4.9% core inflation rate, and cautioned that global monetary tightening could hurt stock markets in emerging economies. Government efforts to reduce food inflation expected to materialise in…

The Hindu

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Vegetable prices likely to cool down next month, says Finance Ministry

Govt expects veg prices to cool off; crude oil prices a concern; no excise duty cut; capital expenditure to reach 50% by Sept; govt taking steps to control inflation; flexible trade policy adopted to keep prices down; interventions to cool tomato prices; retail inflation at 7.44% in July.

The Hindu

Union government approves 8.15% interest rate for PF deposits

The CBT had recommended an increase to 8.15% from 8.10% interest to the deposits on March 28, 2023. Read more on The Hindu.

The Hindu

Social Security Fund dips by B17.6bn

In 2022, the Social Security Fund (SSF) declined by more than 17.6 billion baht, the first drop in five years, as a result of decreased market capitalisation (mark to market) and reduced contributions to alleviate the financial burden of subscribers during the pandemic, says a Finance Ministry source who requested…

Bangkok Post

Finance Minister Nirmala Sitharaman reviews progress of implementation of Budget schemes

New Delhi Finance Minister Nirmala Sitharaman on 4 July reviewed progress of implementation of Budget schemes with secretaries of Finance Ministry and Corporate Affairs Secretary.

The Hindu

Government nudged to correct revenue-to-GDP proportion

The government is advised to seek methods to increase its revenue-to-GDP ratio following a continuous decline, while remaining prudent in incurring higher levels of debt, says a Finance Ministry source who requested anonymity.

Bangkok Post

Israel Poised To Release World’s First Digital Government Bond

The Tel Aviv Stock Exchange (TASE) and Israel’s Finance Ministry prepare for a digital Israel Bond traded on blockchain platform.

Zenger

Tobacco: Farmers' body writes to PMO, Finance Ministry against WHO recommendation

Farmer organisation FAIFA has written to the Prime Minister’s Office (PMO) and Finance Ministry against the WHO recommendation that alternative crops should replace tobacco as it contributes to global food crisis

The Hindu

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Tribune News Service

Israel passes budget with big grants to ultra-Orthodox

Israel’s parliament passed a national two-year budget that includes billions of dollars in funding for West Bank settlements and religious programs, stabilizing Prime Minister Benjamin Netanyahu’s right-wing coalition. The shekel weakened as critics warned the plan would suppress rather than spur economic growth.

Bangkok Post

Bureau ready to adjust fiscal 2024 budget plan

The Budget Bureau is planning to adjust the fiscal 2024 budget to reflect the priorities of the new government, says a Finance Ministry source who requested anonymity.

Bangkok Post

Ministry estimates B2tn available for party pledges

The new government will have room to spend at least 2 trillion baht to fulfil its populist campaign pledges, according to a Finance Ministry source who requested anonymity.

Bangkok Post

Ministry sets targets for tax reform

The Finance Ministry has set four targets for tax reform, aiming to boost revenue to cover expenses and deal with future economic uncertainties, says Fiscal Policy Office director-general Pornchai Thiraveja.

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Bangkok Post

Arkhom predicts potential growth of 4-5%

The potential growth rate of the economy is 4-5%, says Finance Minister Arkhom Termpittayapaisith.

Bangkok Post

Megaprojects, tourism to propel growth, Arkhom says

A slew of billion-dollar infrastructure projects and an upswing in tourism will fuel Thailand’s expansion this year, shielding the economy from weaker exports and any possible delay in the budget approval due to elections, according to Finance Minister Arkhom Termpittayapaisith.

Reuters

Colombia's health bill to cost up to $2.64 billion annually for next decade

The Colombian government's health reform plan will cost from $1.86 billion to $2.64 billion each year for the next decade, the Finance Ministry said on Monday.

Reuters

Brazil govt to resume fuel taxes -ministry

The Brazilian government is set to resume the collection of federal taxes on fuels this week, the Finance Ministry said on Monday.

The Independent UK

G-20 finance chiefs to tackle global economic threats

Top financial leaders from the Group of 20 leading economies are gathering in the south Indian technology hub of Bengaluru to tackle challenges to global growth and stability

Bangkok Post

Ministry to probe executives' BCP shares

The Finance Ministry will investigate whether it was unethical for two of its senior executives to receive shares offered to them by SET-listed Bangchak Corporation Plc (BCP) under the company's employee stock ownership plan (Esop), said a ministry source who requested anonymity.

Bangkok Post

Bid to hasten Covid payouts

The Finance Ministry plans to speed up the payment of lump sum claims from Covid-19 policyholders of four dissolved non-life insurance companies, says permanent finance secretary Krisada Chinavicharana.

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