Search Result for : Department Of Economic Affairs

Auction for Sale (Re-issue) of Government Stock (GS).

Dated 22nd December, 2017 | Copy of | Finance Notification   Auction for Sale (Re-issue) of Government Stock (GS) Government of India (GoI) hereby notifies sale(re-issue) of the following Government Stocks:    Subject to the limit of ` 15000 Cr, being total notified amount, GoI will have the option to retain additional subscription up to ` 1000 Cr against any of the above security. The sale will be subject to the terms and conditions spelt out in this notification (called „Specific Notification). The Stock will be sold through Reserve Bank of India, Mumbai Office, Fort, Mumbai- 400 001 as per the terms and conditions specified in the General Notification F.No.4(13)–W&M/2008, dated October 8, 2008 issued by Government of India. Allotment to Non-competitive Bidders ...

Corrigendum to Number S.O.3755(E), dated the 27th November, 2017

Dated 15th December, 2017 | Copy of | Finance Corrigendum Sl.139 | FINANCE -COPY OF-CORRIGENDUMDated 4th December, 2017 CORRIGENDUM In the notification of the Government of India in the Ministry of Finance (Department of Economic Affairs) number S.O.3755(E), dated the 27th November, 2017 published in the Gazette of India, Extraordinary, dated the 27th November, 2017 in line 3, paragraph 1, for “Member of Parliament” read “former Member of Parliament”. Sd/-(Prashant Goyal)Jt. Secy. S.O.3802(E)F.No.10(1)-B(S)/2016Issued by:Ministry of Finance(Department of Economic Affairs)New Delhi

Finance Commission Constituted

Dated 15th December, 2017 | Copy of | Finance Notification Sl.138 | The following order made by the President is to be published for general information:- ORDER In pursuance of clause (1) of article 280 of the Constitution, read with the provisions of the Finance Commission (Miscellaneous Provisions) Act, 1951 (33 of 1951), the President is pleased to constitute a Finance Commission consisting of Shri N.K. Singh, Member of Parliament and former Secretary to the Government of India, as the Chairman and the following four other members, namely:- 2. Shri Arvind Mehta shall be the Secretary to the Commission.3. The Chairman and the other members of the Commission shall hold office from the date on which they respectively assume office up to the date ...

AK Bhalla leaving DGFT, will be new Power Secretary

The Dollar Business Bureau  Ajay Kumar Bhalla, the Director General of Foreign Trade will be leaving the charge of Directorate General of Foreign Trade (DGFT) on June 30.  Bhalla, a 1984 batch IAS officer of the Assam-Meghalaya cadre who earlier served as the Additional Secretary in the Ministry of Commerce, will be joining as the new Power Secretary. He will take over the new charge from Power Secretary P K Pujari, who is retiring on June 30.  “The new name for the post of DGFT has not yet been decided. It will be decided within a day or two,” sources in DGFT office told The Dollar Business.  Bhalla, who had taken the charge in October 2016, is the fourth DGFT to leave the post ...

G20 FMs vow to use 'all policy tools' to support global growth

PTI The Group of 20 major economies, including India, today vowed to deploy all policy tools to foster confidence and boost global environment for growth, which they said was "challenging" and uncertain after UK's decision to exit the world's largest single market, the EU."The global economic environment is challenging and downside risks persist, highlighted by fluctuating commodity prices, and low inflation in many economies," a communique issued after the G20 Finance Ministers and Central Bank Governors Meeting in southwest China's Chengdu city said.Department of Economic Affairs Secretary Shakthikanta Das attended the gathering, which was held ahead of G20 leaders meeting scheduled in the Chinese city Hangzhou in September.The comminique said that the outcome of the Brexit result adds to uncertainty in ...

ADB lends $120 mn for irrigation project in Odisha

The Dollar Business Bureau India and the Asian Development Bank (ADB) on Tuesday signed a $120 million loan agreement to facilitate irrigation and water management infrastructure in Odisha. The second tranche of the $157.5 million loan, under the Orissa Integrated Irrigated Agriculture and Water Management Investment Program, will be used for upgrading seven irrigation subprojects, which will improve irrigation in more than 100,000 hectares and strengthen Water User Associations (WUAs) and the capacity of the state’s Department of Water Resources. The investment will be made across Baitarani, Brahmani, Budhabalanga, and Subernarekha river basin areas and parts of the Mahanadi delta. “Agriculture is a priority sector for India and especially for Odisha because of its high potential to generate jobs ...

RBI to share FDI-related information with IB, RAW

The moves assumes significance as the government expects rise in FDI inflow to the country owing to its attempts to liberalise trade and promote ease of doing business Source: PTI It was decided that RBI should share with IB and Cabinet Secretariat, information on FDI which actually enters the country   The Reserve Bank of India (RBI) will share FDI-related information with country's intelligence agencies -- IB and RAW -- to check black money from entering the country. The decision was taken during a recent meeting of a government group, headed by Revenue Secretary, to check economic crimes. The move comes after Cabinet Secretariat -- under whose administrative control Research and Analysis Wing (RAW) functions -- expressed concern over companies in tax havens investing ...

Govt tweaks gold monetisation scheme; bonds hit among investors

The Dollar Business Bureau The Gold Monetisation Scheme is aimed at reducing the country’s reliance on the import of gold to meet the domestic demand   While thousands applied for the subscription of gold bonds worth over Rs. 246 crore in the first tranche, the government’s gold monetisation scheme attracted only a handful of household depositors, prompting authorities to tweak the scheme. The government had launched three gold related schemes—Sovereign Gold Bond Scheme (SGB), Gold Monetisation Scheme (GMS) and Indian Gold Coins and Bullions on November 5. The first tranche of SGB was issued by RBI through its e-kuber system from November 5 to November 20. “This (SGB) scheme saw an overwhelming response from the investors throughout the country and initial figures ...