Finance Ministry | DD News On Air

October 27, 2023 7:52 AM

IT Returns filed by individual taxpayers registered increase of 90%

Income Tax Returns filed by individual taxpayers have registered an increase of 90 per cent from 3.36 crore in Assessment Year 2013-14 to 6.37 crores in 2021-22. Finance Ministry said, the average gross total income for individual taxpayers have registered an increase of 56 percent from 2013-14 to 2021-22. Over 7.41 crore ITRs have been filed for AY 2023-24 till date, including 53 lakh new first-time filers. The Ministry said this is an indication of widening tax base following various reform m...

September 21, 2023 1:32 PM

Finance Ministry declines reports of any distress regarding household savings & overall effect on economy

The Finance Ministry today decline the reports of any distress regarding household savings and its overall effect on economy. They stated that changing consumer preferences for various financial products are the primary reasons behind these trends. In a social media post, the Ministry said that between June 2020 and March this year, the Stock of Household Gross Financial Assets went up by 37.6 per cent, and the Stock of Household Gross Financial Liabilities went up by 42.6 per cent with no...

September 18, 2023 4:34 PM

Finance Ministry approves various welfare measures for LIC agents and employees

The Finance Ministry today approved various welfare measures for Life Insurance Corporation of India (LIC) agents and employees. This move will benefit over 13 lakh agents and more than one lakh regular employees. Under these new measures, the Ministry has enhanced the gratuity limit from three lakh rupees to five lakh rupees for LIC agents. It has also enabled reappointed agents to be eligible for renewal commissions. The Ministry informed that the term insurance cover for the agents has also b...

September 1, 2023 4:42 PM

Subscribers under National Pension System and Atal Pension Yojana grown more than 6.62 cr: Govt

The numbers of subscribers under the National Pension System (NPS) and Atal Pension Yojana together have grown to more than 6.62 crores. Finance Ministry said that total Asset under Management has reached 10 lakh crore rupees. Akashvani correspondent reports that NPS has been implemented for all Government Employees joining Central Government on or after 1st January 2004. Most of the State and UT Governments have also notified NPS for their new employees. It was also made available to eve...

August 18, 2023 7:10 PM

Jan Dhan accounts cross 50 crore mark

The total number of Jan Dhan accounts have crossed 50 crore mark. Finance Ministry said, out of these accounts 56 percent accounts belong to women and 67 percent accounts have been opened in Rural and Semi-urban areas. The deposits in these accounts are more than two lakh crore rupees. The Ministry said, about 34 crore RuPay cards have been issued in these accounts free of cost. The average balance in Pradhan Mantri Jan Dhan Yojana accounts is over four thousand rupees and more than five crore 5...

July 28, 2023 9:37 PM

Government of India & Asian Development Bank signs a 200 million dollar loan for expanding urban services in Rajasthan

The Government of India and the Asian Development Bank today signed a 200 million dollar loan for expanding urban services in Rajasthan. The Finance Ministry said, this will provide finance for the ongoing Rajasthan Secondary Towns Development Sector Project to expand water supply and sanitation systems and enhance urban resilience. This will improve water supply systems in at least seven towns by converting all groundwater sources to surface water, and by installing one thousand 400 kilometre o...

July 14, 2023 9:28 PM

Maharashtra Govt announces portfolio allocation, Deputy CM Ajit Pawar gets Finance Ministry

Almost two weeks after NCP’s Ajit Pawar along with eight others were inducted into the Maharashtra Cabinet, the state government today announced the portfolio allocation. As per the new arrangement, BJP had to let go six of its portfolios while the Shiv Sena had to give up three. The new state cabinet now has 29 members, including the Chief Minister and two Deputy Chief Ministers. The cabinet can be further expanded to reach a total of 43 ministers. Akashvani Mumbai correspondent reports t...

May 19, 2023 8:14 PM

Finance Ministry says no TCS on overseas payments via debit or credit cards upto Rs 7 lakh per year

Finance Ministry today said that any payments by an individual using their international Debit or Credit cards upto seven lakh rupees per financial year will be excluded from the Liberalized Remittance Scheme, LRS limits and will not attract any Tax Collection at Source. Concerns have been raised about the applicability of Tax Collection at Source to small transactions under the Liberalized Remittance Scheme from 1st July. To avoid any procedural ambiguity, it has also been decided that Exis...

April 11, 2023 1:07 PM

Finance Ministry directs State, UTs to boost coverage of micro-insurance Schemes at Gram Panchayat level

The Finance Ministry has directed all State and Union Territories to sensitise and impress the salient features of the intensive three months long campaign to boost coverage of micro-insurance Schemes at Gram Panchayat level. Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY) and others are included in these schemes. The campaign will cover all the districts across the country till 30th June this year. In this regard, Department of Financial Servic...

December 13, 2022 6:38 AM

Finance Ministry informs over 37.76 crore loans disbursed since inception of Pradhan Mantri Mudra Yojana in April 2015

Finance Ministry has informed that over 37.76 crore loans are disbursed since the inception of the Pradhan Mantri Mudra Yojana (PMMY) in April 2015. It said that the loan amounts to over 20.43 lakh crore rupees as of 25th November 2022. Referring to a Labour and Employment Ministry survey, the Finance Ministry also stated that in three years between 2015 and 2018, PMMY helped in generating 1.12 crore net additional employment. Under PMMY, collateral-free institutional credit up to 10 lakh rupees...

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