MSME credit guarantee scheme saved 1.5 cr jobs

Emergency Credit Line Guarantee Scheme (ECLGS) launched by the government in 2020 to provide relief to MSMEs impacted by Covid-19 pandemic has saved 13.5 lakh firms from going bankrupt and consequently 1.5 crore jobs, claimed a report. Continue Reading

Maintain 5% GST for textile: TN tells Centre

While urging the Centre to reverse the GST hike for textile and maintain it at present five per cent rate, Tamilnadu Finance Minister Palanivel Thiagarajan said alternatively, readymade garments having sale value of above Rs. 3,000 or Rs. 5,000 be taxed at the higher rate of 12 per cent. Continue Reading

No proposal to recognise Bitcoin as currency: FM

Finance Minister Nirmala Sitharaman today said that the government has no proposal to recognise Bitcoin as a currency in the country. Replying to a question, she also informed the Lok Sabha that the government does not collect data on Bitcoin transactions. Continue Reading

‘Last date to avail GST amnesty scheme extended’

The Finance Ministry on Sunday extended the last date to avail the GST amnesty scheme, under which taxpayers have to pay a reduced fee for delayed filing of monthly returns, by three months till November 30. Continue Reading

Rahul writes to Nirmala with an important demand

Congress leader Rahul Gandhi has written to Finance Minister Nirmala Sitharaman urging the Centre to extend the moratorium on repayment of short-term crop loans of farmers to 31 December. Continue Reading

No plan to print currency notes, says FM

The government has no plan to print currency notes to tide over the current economic crisis triggered by the outbreak of Covid-19 pandemic, Finance Minister Nirmala Sitharaman informed Parliament on Monday. Continue Reading

‘Enhanced GST revenue flow will be new normal’

Commending taxmen for the enforcement measures in dealing with GST fraud, Finance Minister Nirmala Sitharaman on Thursday said the enhanced revenue collection in the recent months should now be the new normal. Continue Reading

CIA reacts to FM’s package

While thanking Finance Minister Nirmala Sitharaman for the announcements on providing fresh loan assistance, extension of PF contributions till 22 March, additonal allocation for ECLGS, attraction of tourists etc., Consortium of Indian Associations has said the biggest need of the hour for self-employed, micro and small business are moratorium for six months without interest for all loans. Continue Reading

‘Orders issued by oversight’, says govt, withdraws order cutting interest rates

The government today rolled back cuts on interest rates on small savings schemes, including National Savings Certificates or NSC and Public Provident Fund or PPF, announced last evening. Continue Reading