New Delhi: Finance minister Nirmala Sitharaman Saturday directed the Department of Expenditure to ensure that funding for all schemes and projects are routed through a single nodal agency from the next fiscal year and asked it to work with the Controller General of Accounts (CGA) for a smooth transition. Sitharaman suggested that the CGA examine … Read more
Dearness Allowance for central government employees has been hiked to 31 per cent of the basic pay from 28 per cent with effect from July 1, 2021, the Finance Ministry said. In an office memorandum, the Department of Expenditure, under the Finance Ministry, said the term ‘basic pay’ means the pay drawn as per the … Read more
The Finance Ministry on Thursday said it has released the sixth monthly instalment of revenue deficit grant of Rs 9,871 crore to 17 states. Post Devolution Revenue Deficit Grant is provided to the states under Article 275 of the Constitution. The grants are released as per the recommendations of the 15th Finance Commission in monthly … Read more
The Finance Ministry on Saturday said that no order relating to the payment of increments in dearness allowance for central government employees and dearness relief for pensioners has been issued. In a tweet, the Ministry said a document is doing the rounds on social media claiming resumption of DA to Central Government employees & Dearness … Read more
The finance ministry has asked all ministries and departments to cut controllable expenditure by a fifth and suggested as many as 18 areas where reductions can be made, such as advertisement and publicity, office expenses and overtime allowance. The government faces higher expenditure on the centralised procurement of Covid-19 vaccines and the free food ration … Read more
The lower limit will ensure that while small and financial investments will not face scrutiny, significant investments from China and other countries covered by the new regime will face checks. Synopsis On April 18, India tightened its FDI policy for countries with which it shares a land border, putting investments from them on the approval … Read more