Download the app
App StorePlay Store
Beige
Login
← All tags

finance ministry

India hikes export duties on petrol diesel and ATF while keeping domestic fuel taxes unchanged

India hikes export duties on petrol diesel and ATF while keeping domestic fuel taxes unchanged

India’s Finance Ministry has raised the Special Additional Excise Duty on exported petrol, diesel, and Aviation Turbine Fuel, effective May 16. The SAED rates will be Rs 3 per litre for petrol, Rs 16.50 per litre for diesel, and Rs 16 per litre for ATF. Crucially, domestic excise duties are left unchanged, and the Road and Infrastructure Cess on these products is reduced to nil. Officials say the targeted export-focused change aims to boost revenue without moving retail pump prices.

Summarised by Beize from a story on Republic on 15 May 2026
India adds ₹3 per litre windfall tax on petrol exports while cutting diesel and ATF duties from May 16

India adds ₹3 per litre windfall tax on petrol exports while cutting diesel and ATF duties from May 16

India has introduced a windfall gains tax of ₹3 per litre on petrol exports, effective May 16, while cutting export levies on diesel to ₹16.5 per litre and aviation turbine fuel to ₹16 per litre. The Finance Ministry said road and infrastructure cess on petrol and diesel exports will be nil, with no change to duties for domestic consumption. The move follows West Asia conflict-linked volatility, aiming to boost domestic availability and curb exporters benefiting from global price gaps.

Summarised by Beize from a story on The Economic Times on 15 May 2026

Your news, in seconds

App StorePlay Store
Finance Ministry warns contractors of wage delays and social security failures with potential three year bans

Finance Ministry warns contractors of wage delays and social security failures with potential three year bans

The Finance Ministry has tightened procurement rules for government contracts, requiring strict compliance with labour laws. Contractors that fail to pay wages or deposit social security contributions can be debarred for up to three years. To enforce the change, ministries and departments will verify contractor compliance every month, targeting protections for outsourced and contractual workers.

Summarised by Beize from a story on The Economic Times on 9 May 2026
Finance ministry ties government tenders to labour law compliance and harsher penalties for violators

Finance ministry ties government tenders to labour law compliance and harsher penalties for violators

A May 8, 2026 office memorandum from India’s Department of Expenditure directs central ministries and agencies to link procurement with Labour Code protections. The move operationalises worker safeguards while raising the stakes for contractors. Firms that miss timely wage and social security contributions could face strict enforcement actions, including debarment and blacklisting, affecting future government contracts.

Summarised by Beize from a story on The Economic Times on 9 May 2026
Finance Ministry points to credit surge as proof of economic strength in FY26

Finance Ministry points to credit surge as proof of economic strength in FY26

The Finance Ministry says FY26 credit trends reflect economic strength, highlighting non-food credit growth rising to 15.9% from 10.9% a year earlier. Total credit outstanding climbed to ₹212.9 lakh crore by March 2026, increasing by ₹29.2 lakh crore compared with the previous year’s level, underscoring a faster pace of borrowing and lending.

Summarised by Beize from a story on The Economic Times on 5 May 2026
Banks report 15.9% credit growth in FY26 as Finance Ministry cites loan demand surge

Banks report 15.9% credit growth in FY26 as Finance Ministry cites loan demand surge

Indian banks posted robust 15.9% credit growth in FY26, according to the Finance Ministry. The increase was broad-based, driven by services, personal loans, agriculture, and industry—signaling strong underlying demand and a resilient economy. The Ministry also pointed to India’s ability to grow rapidly despite global headwinds.

Summarised by Beize from a story on The Economic Times on 5 May 2026

Never miss a story

App StorePlay Store
India net direct tax collections jump 5 12 percent to Rs 23 40 lakh crore by March 31

India net direct tax collections jump 5 12 percent to Rs 23 40 lakh crore by March 31

India’s net direct tax collections rose 5.12% to about Rs 23.40 lakh crore as of March 31. The update signals improving revenue inflows for the government, though the headline growth rate hints that the underlying tax performance and compliance trends could be more complex than they first appear.

Summarised by Beize from a story on The Economic Times on 4 May 2026
Finance Ministry pushes DRT speed upgrades to recover more from stuck cases

Finance Ministry pushes DRT speed upgrades to recover more from stuck cases

The Finance Ministry has held talks aimed at speeding up the disposal of cases through Debt Recovery Tribunals by tightening bank oversight, prioritising high-value matters, and pushing procedural reforms. Officials also discussed using Lok Adalats as an alternate dispute resolution tool, along with capacity-building initiatives, to improve recovery outcomes and reduce delays.

Summarised by Beize from a story on The Economic Times on 2 May 2026
MoS Pankaj Chaudhary defends ED role saying it cleanses financial crimes not targets people

MoS Pankaj Chaudhary defends ED role saying it cleanses financial crimes not targets people

Finance Minister of State Pankaj Chaudhary defended the Enforcement Directorate, calling it a “nation’s shield against financial crimes.” He said the agency has met the trust placed in it by successive governments and has set “new standards.” While emphasizing ED’s mandate to cleanse wrongdoing, he added that the focus is not on targeting any individual.

Summarised by Beize from a story on The Economic Times on 1 May 2026
Digital gold nears formal rules as government drafts oversight framework

Digital gold nears formal rules as government drafts oversight framework

India’s fast-growing digital gold industry is moving toward formal oversight, with the government reportedly exploring a regulatory framework. Fintech founders have urged the Finance Ministry to address how quickly the sector is expanding and the current gap in clear legislation.

Summarised by Beize from a story on The Economic Times on 1 May 2026

Reading on mobile?

App StorePlay Store
Finance Ministry flags West Asia conflict and monsoon risks to India 7.4% growth target

Finance Ministry flags West Asia conflict and monsoon risks to India 7.4% growth target

India’s Finance Ministry says the FY2026-27 GDP growth forecast of 7–7.4% is clouded by uncertainty in the broader macroeconomic environment, driven by the ongoing West Asia conflict and the outlook for monsoon conditions. The ministry warns risks could affect growth momentum as India begins the new fiscal year, with outcomes dependent on evolving external and weather-linked factors.

Summarised by Beize from a story on Republic on 30 Apr 2026
Finance Ministry caps scheme spending until 16th Finance Commission clears the way

Finance Ministry caps scheme spending until 16th Finance Commission clears the way

The Finance Ministry has capped the outlay for schemes awaiting approval from the 16th Finance Commission after several ministries failed to complete mandatory scheme appraisals by the March 31 deadline. These schemes will continue only on an interim basis until September 30 or until fresh approvals arrive under an interim funding arrangement.

Summarised by Beize from a story on The Economic Times on 29 Apr 2026
GJC urges RBI to revamp gold monetisation with digital jeweller based scheme

GJC urges RBI to revamp gold monetisation with digital jeweller based scheme

The Gem and Jewellery Council has proposed a revamped Gold Monetisation Scheme to the RBI, working with the Finance Ministry as well. The plan would involve jewellers and a digital gold system to help individuals earn returns on their idle gold more easily, potentially streamlining participation and improving how monetisation works.

Summarised by Beize from a story on The Economic Times on 29 Apr 2026
Sri Lanka reports another missing payment after hackers stole $2.5M from finance ministry

Sri Lanka reports another missing payment after hackers stole $2.5M from finance ministry

Sri Lanka says it has lost more than $3 million across two separate cybersecurity incidents, compounding its financial strain as it still works to recover from the 2022 debt crisis. The latest revelation comes days after hackers reportedly stole $2.5 million from the finance ministry, raising fresh concerns about weaknesses in government payment systems.

Summarised by Beize from a story on TechCrunch on 29 Apr 2026

Follow your favourite sources

App StorePlay Store
India turns to patient capital as FII flight tightens balance of payments pressure

India turns to patient capital as FII flight tightens balance of payments pressure

Facing FII outflows and fresh balance of payments strain, India’s finance ministry is coordinating with the RBI to roll out measures aimed at attracting “patient capital.” The focus is to bring in longer-duration funds that can better absorb market shocks, stabilise external accounts, and reduce reliance on shorter-term, more volatile flows.

Summarised by Beize from a story on The Economic Times on 29 Apr 2026
Finance Ministry reviews financial inclusion progress this week to shape Financial Inclusion 2.0 plans

Finance Ministry reviews financial inclusion progress this week to shape Financial Inclusion 2.0 plans

The Finance Ministry will review progress on financial inclusion this week as it drafts the next phase, Financial Inclusion 2.0. Officials are expected to assess how current schemes are performing, with programs like the Atal Pension Yojana coming under closer scrutiny to decide what to expand, fix, or redesign for broader access and stronger outcomes.

Summarised by Beize from a story on The Economic Times on 28 Apr 2026
Finance Ministry orders public banks to finish wage revision talks within a year

Finance Ministry orders public banks to finish wage revision talks within a year

The Finance Ministry has asked public sector banks to kick off wage revision discussions for employees and officers, setting a tight timeline. Negotiations for the 13th Bipartite settlement are expected to be finalised within 12 months, ahead of the revision becoming effective from November 1, 2027. The government wants an early closure to protect industrial harmony.

Summarised by Beize from a story on The Economic Times on 26 Apr 2026
Banks urged to switch to quantum resistant encryption before computers crack today’s codes

Banks urged to switch to quantum resistant encryption before computers crack today’s codes

The finance ministry has asked India’s public sector banks to explore quantum-resistant encryption as a shield against future quantum computing threats. Experts say quantum computers could eventually break today’s widely used encryption. The push aligns with the National Quantum Mission’s work on quantum communication networks, aiming to keep financial systems secure as the technology landscape shifts.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

Stay informed on the go

App StorePlay Store
46th GST Council meets Dec 31 to discuss merging 12 and 18 slabs

46th GST Council meets Dec 31 to discuss merging 12 and 18 slabs

The 46th GST Council meeting is set for Dec 31, with rate rationalisation on the agenda. India’s current four-tier structure (5, 12, 18, 28%) and separate cess on luxury and demerit items are facing calls to merge the 12% and 18% slabs and possibly move some items out of the exempt category to balance revenue impact.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
August GST collection jumps 28 percent to Rs 1 44 lakh crore for sixth straight month

August GST collection jumps 28 percent to Rs 1 44 lakh crore for sixth straight month

India’s GST mop-up rose sharply in August 2022, with gross revenues of Rs 1,43,612 crore—up 28% year-on-year, according to the Finance Ministry. The result pushed monthly GST collections past Rs 1.4 lakh crore for the sixth consecutive month, underscoring sustained momentum in tax collections despite shifting economic conditions.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Page 1

The full experience is on mobile.

Swipe through stories, personalise your feed, and save articles for later — all on the app.

Download on the App StoreGet it on Google Play