Nearly half of the gold underlying Sovereign Gold Bonds (SGBs) is fully backed by government reserves at current gold prices, senior officials told CNBC-TV18. The sources said the Centre has provisioned enough funding in the Gold Reserve Fund (GRF) to cover redemptions of 60–65 tons out of the 130 tons of gold currently outstanding under … Read more
GST charges: Pankaj Chaudhary, minister of state in the Ministry of Finance, disclosed that the government garnered Rs 4,792.4 crores from Goods and Services Tax (GST) applied to education services during the financial year 2023-24. These services are non-exempt under GST, with a 18% tax rate levied on them under Service Accounting Code (SAC) 9992. Answering … Read more
The NDA government has earned Rs 98,681 crore from long term capital gains tax on listed equities in 2022-23, which is about 15 per cent growth over the last year, Minister of State for Finance Pankaj Chaudhary told Rajya Sabha on Tuesday. Chaudhury also shared collections from Long Term Capital Gains (LTCG) tax between fiscal … Read more
The Central government’s debt profile remains safe and the share of its external debt in the country’s gross domestic product dropped to 2.7% in FY23 from 3.3% in FY14 at the current exchange rate, the finance ministry told the Lok Sabha on Monday. In a written reply, minister of state for finance Pankaj Chaudhary said: … Read more
The Centre has devolved over Rs 3.09 lakh crore to states till July of the Rs 10.21 lakh crore budgeted to be transferred in the current fiscal, Minister of State for Finance Pankaj Chaudhary said on Tuesday. “Out of Rs 10.21 lakh crore estimated to be transferred to states for the FY 2023-24, Rs 3,09,521.22 … Read more
The government on Tuesday informed Parliament that it expects the total debt as percentage of GDP to increase to 61.7 per cent (provisional) in 2021-22 from 60.5 per cent (provisional) in the previous fiscal. At the same time, public debt would rise to 54.2 per cent in the current financial year from 52 per cent … Read more