Finance Ministry

Independence Day 2024: Road to Reform is Blueprint for Growth, says PM Modi

In his address marking the 78th Independence Day, Prime Minister Narendra Modi praised the reforms in India's banking sector from the ramparts of the Red Fort. He emphasized that these reforms have significantly strengthened the country's banking system, placing Indian banks among the strongest in the world. "The banks were in trouble, we made several reforms and today our banks are counted among the strongest banks in the world. This increases the strength of the formal economy," PM Modi said....

June 11, 2024 9:12 AM

Centre releases over Rs 1.39 lakh crore in tax devolution to support state finances & development

The Centre has announced the release of a significant installment of one crore thirty-nine thousand 750 crore rupees in tax devolution to states. The Finance Ministry said yesterday that the release, which includes both the regular allocation for June and an additional installment, is aimed at bolstering state government capacity to accelerate development and capital expenditure. It further said that as of today, the total amount devolved to states for the fiscal year 2024-25 stands at t...