Finance minister Nirmala Sitharaman on Friday rejected the Opposition’s criticism that the Centre had blocked money meant for states, highlighting that while gross tax revenue dropped by close to 29.5% year on year in the April-July period, the Centre’s devolution to states dipped by only a fraction of the rate.

Sitharaman was replying to a debate on the first batch of supplementary demand for an additional spending of Rs 2.36 lakh crore during the current fiscal,

Gujarat has topped the list of the most number of high denomination currency fake notes in the last four years. In 2019, as many as 14,494 counterfeit notes of Rs 2,000, and 5,558 counterfeit notes of Rs 500 were held in Gujarat, according to the data provided by G Kishan Reddy, MoS, Ministry of Home Affairs, in a reply to a question in Lok Sabha. During 2016-2019, the state has witnessed fake Rs 2,000 notes worth

The Ministry of Finance on Sunday shared an update on the progress of the multiple schemes under the Rs 20-lakh-crore Atmanirbhar Bharat package announced by Prime Minister Narendra Modi in May. According to the ministry, Rs 25,000 crore has been disbursed to farmers as on August 28, 2020, under the Rs 30,000 crore additional emergency working capital funding through National Bank for Agriculture and Rural Development (NABARD). The remaining Rs 5,000 under the Special Liquidity Facility (SLF) was allocated to NABARD by the Reserve Bank

Prime Minister Narendra Modi today said that the time for completion of houses under PMAY-G has been cut from 125 days to a mere 45-60 days during the pandemic, which is a classic example of converting the coronavirus crisis into an opportunity. Narendra Modi inaugurated 1.75 lakh houses built under the Pradhan Mantri Awas Yojana on Saturday. The Modi government had promised “Housing for All by 2022”, for which a flagship programme of PMAY-G was launched in November

The fiscal deficit of states soared to more than double in the first quarter of the current fiscal amid the coronavirus-led revenue loss. While the states spent 18.4 per cent of the budget estimates, similar to that in the previous years, the fiscal deficit was 36.5 per cent of BE in Q1, which was more than double of that in the previous years, said the Ecoscope report by Motilal Oswal Institutional

The high unemployment rate in urban India subsided in the week ending 6 September 2020, falling to the lowest level since the lockdown began. The urban unemployment rate fell to 8.32 per cent in the week, according to the Centre for Monitoring Indian Economy. Interestingly, the employment situation in urban India has improved despite a severe loss of salaried jobs. An estimated 21 million salaried employees have lost their jobs by the end of August. There were 86 million salaried jobs in India