India calls for greater coordination among BRICS on IMF’s quota review – Times of India

India calls for greater coordination among BRICS on IMF's quota review - Times of India

[ad_1] NEW DELHI: India on Tuesday pitched for greater coordination among BRICS nations on the issue of the 16th general review of quotas of the International Monetary Fund (IMF) to give more say to developing countries. As per an IMF resolution, the 16th General Review of Quotas should be concluded by December 15, 2023. Any … Read more

FPIs invest Rs 2.74 lakh crore in equity markets during FY’21 – Times of India

FPIs invest Rs 2.74 lakh crore in equity markets during FY'21 - Times of India

[ad_1] NEW DELHI: The finance ministry on Tuesday said India witnessed strong foreign portfolio investment (FPI) inflows into the equity markets to the tune of Rs 2,74,034 crore during 2020-21, despite the outbreak of Covid-19. This reflects steadfast confidence of foreign investors in the fundamentals of the Indian economy, the ministry said in a statement. … Read more

India well prepared to combat second wave of Covid-19: Finance ministry report – Times of India

India well prepared to combat second wave of Covid-19: Finance ministry report - Times of India

[ad_1] NEW DELHI: Having successfully managed the first wave of the coronavirus pandemic, India is well prepared to combat the scourge of the second wave, the finance ministry‘s monthly economic report said. The report further said high-frequency data indicates that India is on the path to become better and stronger. Coronavirus: Live updates“After battling a … Read more

Finance Ministry Releases Rs 45,000 Crore to States as Additional Devolution on Buoyant Q4 Revenue Mop-up

Finance Ministry Releases Rs 45,000 Crore to States as Additional Devolution on Buoyant Q4 Revenue Mop-up

[ad_1] The Finance Ministry on Thursday said it has released Rs 45,000 crore to the states as additional devolution in the 2020-21 fiscal following revenue buoyancy in the March quarter. As per the Revised Estimates for 2020-21, Rs 5,49,959crore, being 41 per cent of the shareable pool of taxes and duties were estimated to be … Read more

17 states operationalise ‘One Nation-One Ration Card’ system – Times of India

17 states operationalise 'One Nation-One Ration Card' system - Times of India

[ad_1] NEW DELHI: Seventeen states have operationalised ‘One Nation-One Ration Card’ system with Uttarakhand being the latest to complete the reform, the finance ministry said on Thursday. States completing the One Nation-One Ration Card system reform are eligible for additional borrowing of 0.25% of gross state domestic product (GSDP). Accordingly, these states have been granted … Read more

Finance ministry releases final instalment of Rs 6,194 crore revenue devolution grant to states – Times of India

Finance ministry releases final instalment of Rs 6,194 crore revenue devolution grant to states - Times of India

[ad_1] NEW DELHI: The finance ministry on Wednesday released the 12th and final monthly instalment of revenue deficit grant of Rs 6,194 crore to the states. With the release of this instalment, a total amount of Rs 74,340 crore has been released to eligible states as Post Devolution Revenue Deficit (PDRD) Grant in the current … Read more