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elections 2022
elections 2022

Finance Ministry

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Finance-Minister-Nirmala-Sitharaman
Nirmala Sitharaman exhorts NIIF to leverage India's investment fundamentals
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State-Bank-of-India
SBI to issue electoral bonds through 29 branches between Nov 9-15
IANS -
The bonds shall be valid for 15 calendar days from the date of issue and no payment shall be made to any payee political party if the electoral bond is deposited after expiry of the validity period.The electoral bond deposited by an eligible political party in its account shall be credited on the same day, official sources said.
Indian-Rupee
Government releases revenue deficit grant worth Rs 7,183 cr to 14 states
IANS -
With this, the total RDG released to states so far in the current financial year has gone up to Rs 57,467.33 crore. This was the eighth instalment of the grant for the current fiscal released to states.In 2022-23, the states will get a total RDG of Rs 86,201 crore.
Rupee
Amid high inflation & weak rupee, Fin Min review says economic performance 'impressive'
IANS -
"Indian economic performance in the first half of 2022-23 has been impressive compared to the world. As measured by PMI composite index, the economic activity level was higher for India at 56.7 compared to 51.0 for the World level during April-Sept 2022," said the economic review which was released on Saturday by the Finance Ministry.
Nirmala-Sitharaman
Inflation 'manageable' at 7.4%, love to see it down to 4%, says Sitharaman
IANS -
Addressing a news conference on Friday at the end of her visit for the annual meetings of the World Bank group, which were accompanied by 24 bilateral meetings, the finance minister also gave a broad overview of India's priorities for its upcoming year-long rotational presidency of the G-20 group of countries -- essentially, focusing on bilateral development banks, climate finance and cryptocurrency.
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Petrol-Industry
Windfall tax increased on jet fuel
IANS -
Apart from this, the Centre also increased the SAED on the export of aviation turbine fuel (ATF) to Rs 3.50 per litre from nil in the last review. Similarly, the windfall tax on the export of diesel has been increased from Rs 5 per litre to Rs 10.50 per litre. A notification regarding the above changes was issued by the Ministry of Finance on Saturday.
Finance-Ministry-India
Centre hikes import duty on platinum
IANS -
Platinum and palladium for use in manufacture of precious metal chemicals, compounds (noble metal compounds and solutions) and catalytic converters will continue at basic customs duty of 7.5 per cent subject to IGCR. Rhodium will also continue with BCD of 2.5 per cent.
Coal-Mine
Reimpose 5% import duty on metallurgical coke, IMCOM urges Finance Minister
IANS -
According to IMCOM, the change in duties has led to a situation where the industry's input cost has reduced only marginally, while the import prices of the output product (met coke) have declined by a much larger quantum. This has led to significant price suppression for the industry as it is no longer able to recoup its cost due to the injuriously low prices of met coke imports.
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