Finance Ministry

Enhanced priority sector lending to minority communities by public sector banks (PSBs) had been mandated by the government in 2007-08. The government at that time had directed PSBs to step up their priority sector lending to minorities from 9 per cent to 15 per cent over a period of three years, sources said.

Repayments stood at Rs 92,371.15 crore, as per the reports. The weighted average yield of primary issuances hardened to 7.33 per cent in the second quarter of the current fiscal from 7.23 per cent in first quarter of 2022-23.

However, in what can be termed as a revelation, according to a pan-India "Financial Literacy and Inclusion survey" conducted by the Reserve Bank of India (RBI), digital banking awareness and knowledge among rural and urban population across the country is at par with each other, with the average being 11.7 for both segments on a score of 21.

The growth has been achieved due to the performance of economy, administration and implementation of the provisions of the direct tax laws, finance ministry sources said. The Central government has set a target of Rs 14,20,000 crore for collection of direct taxes as per budget estimates for 2022-23.

"Crypto assets are by definition borderless and require international collaboration to prevent regulatory arbitrage. Therefore, any legislation on the subject can be effective only with significant international collaboration on evaluation of the risks and benefits and evolution of common taxonomy and standards," Minister of State for Finance Pankaj Chaudhary told the Lok Sabha in a written reply.

The SGBs will be sold through scheduled commercial banks (except small finance banks, payment banks and regional rural banks), Stock Holding Corporation of India Ltd (SHCIL), Clearing Corporation of India Ltd (CCIL), designated post offices and recognised stock exchanges, namely the National Stock Exchange of India Ltd and Bombay Stock Exchange Ltd.

This meeting, which will mark the start of discussions on the Finance Track agenda under the Indian G20 presidency, will be hosted jointly by the finance ministry and the RBI. The meeting will be co-chaired by economic affairs secretary Ajay Seth and RBI deputy governor Michael Patra.

India has assumed presidency of G20 Thursday onwards. G20 Finance Track discusses global economic and financial issues through meetings of finance ministers and Central Bank Governors, their deputies and various working group level meetings.

The gross GST revenue collected in November 2022 were Rs 1,45,867 crore of which CGST was Rs 25,681 crore, SGST Rs 32,651 crore, IGST Rs 77,103 crore (including Rs 38,635 crore collected on import of goods) and cess Rs 10,433 crore (including Rs 817 crore collected on import of goods)

The total amount of compensation released to the states so far, including the aforesaid amount, during 2022-23 is Rs 1,15,662 crore, official sources said. This is despite the fact that total cess collection till October, 2022 is only Rs 72,147 crore and the balance of Rs 43,515 crore is being released by the Centre from its own resources.