The Sukanya Samriddhi Yojana (SSY) is a government-supported savings scheme designed to benefit girl children, launched as part of the Beti Bachao, Beti Padhao campaign. Its primary goal is to provide financial security for a girl child’s educational and marriage expenses. Parents or guardians of girls aged 10 or younger can open an account under … Read more
PPF and SSY: Investors of small savings schemes should note that there will be new rules applicable from October 1, 2024, which is the start of the third quarter of the current financial year. Earlier this week, the Department of Economic Affairs under the Union Ministry of Finance issued a circular with details about the new … Read more
The government on Friday named V Anantha Nageswaran, a former member of the Prime Minister’s Economic Advisory Council (PMEAC), as its next chief economic advisor (CEA), ahead of its Economic Survey and Union Budget. The position has been vacant since December 17, 2021, when KV Subramanian demitted the office. An IIM-Ahmedabad graduate, Nageswaran teaches international … Read more
In a bid to spur public spending, the Finance ministry has provided one-time relaxation in the spending guidelines for January-March quarter to enable central ministries and departments to expedite capital expenditure, according to an office memorandum issued on Thursday. However, the spending ceiling should not exceed the revised estimates, it said. As per the spending … Read more
NEW DELHI: Companies that have a market capitalisation of more than Rs 1 lakh crore at the time of listing can now sell just five per cent of their shares, with the latest amendment in rules, a move that will be beneficial for the government during the proposed initial public offer of LIC. Such entities … Read more
India’s public expenditure on health is the lowest among the BRICS nations, Department of Economic Affairs (DEA) Secretary Ajay Seth said stressing that technology can play a great role in improving access to healthcare. BRICS is the grouping of five major emerging countries — Brazil, Russia, India, China and South Africa — which together represent … Read more
In a bid to boost the economy grappling with the fresh COVID-19 wave, the Finance Ministry has relaxed the spending guidelines to enable ministries and departments to undertake capital expenditure totalling Rs 44,000 crore envisaged in the budget for 2021-22. According to an office memorandum (OM) issued by the Finance Ministry on Thursday, the monthly/quarterly … Read more
The government is sticking to the target of becoming a USD 5 trillion economy by 2024-25 and emphasis on infrastructure sector and other initiatives taken in Budget 2021-22 are aimed at achieving the goal, Economic Affairs Secretary Tarun Bajaj has said. The Budget presented by Finance Minister Nirmala Sitharaman on Monday has given a big … Read more