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The Latest Breaking News from Finance Ministry

FPO: Unnecessary waivers, deductions need scrapping

The Fiscal Policy Office (FPO) is to ask the Finance Ministry to consider winding down unnecessary measures related to tax waivers and tax deductions, in the wake of a decline in net government revenue as a proportion of GDP, says a ministry source who requested anonymity.

Bangkok Post

Morning digest | Not connected to PFI, says SDPI; R. Venkataramani is the new Attorney General of India, and more

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The Hindu

State mulls higher NSF contributions

The Finance Ministry is considering a higher government contribution to the National Savings Fund (NSF) in order to increase retirees' income, says Arkhom Termpittayapaisith.

Bangkok Post

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Govt plans B820bn in new borrowing in 2023 fiscal year

The cabinet on Tuesday approved new borrowing of about 820 billion baht in the 2023 fiscal year starting Oct 1 to help finance a budget deficit, the Finance Ministry said.

Bangkok Post

Keeping the scammers at bay

Authorities and regulators are stepping up efforts to prevent financial fraud, especially online scams, with measures ranging from plugging legal loopholes to the use of advanced technology.

Bangkok Post

New VAT mulled that targets luxury goods

The Finance Ministry is considering the introduction of a two-tier value-added tax (VAT) rate that could generate additional revenue of more than 100 billion baht, says a ministry source who requested anonymity.

Bangkok Post

Weak baht takes centre stage

The Finance Ministry will hold talks with the Bank of Thailand to discuss and delve into the factors behind the weakening baht, said Finance Minister Arkhom Termpittayapaisith.

Bangkok Post

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Officials pile pressure on Bank of Thailand to shield baht

The Bank of Thailand (BoT) and the Finance Ministry will soon meet to discuss the baht after it tumbled to the lowest in nearly 16 years, signalling growing concerns among officials that the currency slump can threaten a tepid recovery and stoke inflation.

Bangkok Post

Acting PM Prawit asks Finance Ministry to monitor weak baht

Acting Prime Minister Prawit Wongsuwan has asked the Finance Ministry to closely monitor the weak baht and its volatility and seek broad opinion to determine policies, a government official said on Tuesday.

Bangkok Post

Arkhom calls for study of loopholes related to forex

Finance Minister Arkhom Termpittayapaisith has asked the Securities and Exchange Commission (SEC) and the Bank of Thailand to examine any legal loopholes to prevent recurring cases of foreign exchange Ponzi schemes.

Bangkok Post

Lower Kharif sowing calls for deft management of foodgrain stock, prices: Finance Ministry report

There is no “room for complacency on the inflation front as lower crop-sowing for the Kharif season calls for deft management of stocks of agricultural commodities and market prices without unduly jeopardising farm exports”, the report said

The Hindu

Revenue expected to exceed 2022 target

Fiscal 2022 will be the first year since the pandemic broke out for government revenue collection to exceed its target, says Krisada Chinavicharana, permanent secretary of the Finance Ministry.

Bangkok Post

Morning Digest | India raises Sri Lankan Tamil issue in U.N.; Measures to cool food inflation will deliver in coming weeks, says Finance Ministry, and more

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The Hindu

Measures to cool food inflation will deliver in coming weeks, says Finance Ministry

Core inflation below 6% for 4th successive month, says Finance Ministry

The Hindu

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THAI angles for a return to global glory

Troubled national carrier Thai Airways International (THAI) is aiming to make a comeback and reach a top 10 global ranking for airlines.

Bangkok Post

Finance Ministry gets all clear to guarantee B85bn Egat loan

The Finance Ministry has been given the green light to guarantee a loan worth 85 billion baht which the Electricity Generating Authority of Thailand (Egat) will use to cushion the effect of a higher fuel tariff (Ft) driving up household electricity bills.

Bangkok Post

Finance ministry details tax on city farm land

The criteria of the land and building tax regarding farm land must be applied to all farm land on an equal and indiscriminate basis, according to a Finance Ministry source.

Bangkok Post

Bruised THAI aims for the skies again

Thai Airways International Plc (THAI) is aiming to resume its position as one of the world's top ten airlines after the completion of its rehabilitation process, the national flag carrier's executives said.

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Cabinet okays oil fund guarantee

The cabinet on Tuesday approved a draft executive decree to allow the Finance Ministry to guarantee the loan repayment and borrowings worth up to 150 billion baht of the Oil Fuel Fund Office.

Bangkok Post

Government moves to tame fuel crisis

The government will roll out a set of measures to ease the economic impact of the global fuel crisis caused by the Russia-Ukraine war, said Krisada Chinavicharana, permanent secretary of the Finance Ministry.

The Hindu

A timely gesture: On the releases of tax devolution dues to States

Transferring more tax devolutions to States early in the year is a prudent move

The Hindu

To boost spending, Centre releases ₹1.16 lakh crore to States

Two months’ tax dues remitted in one go to ease States’ fiscal constraints after GST compensation sunset

The Hindu

Parliamentary proceedings | Value of fake notes in banking system recorded over 80% decline from 2016-17 to 2021-22: Pankaj Choudhary

Minister of State in Finance Ministry attributes the gain to demonetisation in 2016

The Hindu

Parliament proceedings | ED attached ₹47,099 crore assets in 515 bank fraud cases since 2014: Finance Ministry

Out of the 515 cases, 137 cases pertain to bank frauds where the amount involved is more than ₹100 crore in each case

The Hindu

Delay in disbursing national fellowships hits disabled, SC, OBC Ph.D. scholars

Officials say the fellowships funded by Social Justice Ministry haven’t been disbursed since April due to change in fund flow rules by Finance Ministry

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