The Latest Breaking News from Finance

Gadkari said, “I am requesting the Finance Minister to impose an 10 percent GST on diesel engines/vehicles." Read further on Dynamite News:

The pre-election forecasts offer a rosier picture of the economy, with wages growing ahead of inflation, but tougher times for the Government’s own books.

Govt to borrow from welfare boards to address liquidity crunch. Sources say decision to be taken post-Onam after assessing cash position. Previous govts have resorted to this option, rarely in recent times. FM Balagopal pegged Onam expenses at ₹18,000 crore.

Madras HC takes up suo motu revision of order allowing DVAC to withdraw case against former AIADMK coordinator O Panneerselvam & family. Justice N. Anand Venkatesh to hear petition on Wed. DVAC had registered FIR against Panneerselvam in 2006. NGO Arappor Iyakkam seeks court-monitored probe into allegations of disproportionate assets.…

Finance Minister K.N. Balagopal on Saturday urged the United Democratic Front (UDF) to fight for the State’s rightful share from Central pool instead of blaming the State government for the State’s financial situation.

Finance dept. verifying accusations of IGST evasion by CM's daughter; Congress, BJP using it to campaign for Puthuppally bypoll; CPI(M) defending it as honest biz transaction; Isaac accused Congress of hiding behind smokescreen; Kuzhalnadan invited Isaac to inspect his finances; Satheesan using it to disparage CPI(M); Chandrasekhar accused crony capitalism…

The Finance department wants government departments to cut down unnecessary expenses and put in place belt-tightening measures

The Hindu Evening Wrap on August 20, 2023

The Finance department has further tightened the treasury regulations in view of the financial crunch and the fund requirements during the Onam month. The department has issued orders placing restrictions on the treasury from clearing bills over ₹5 lakh.