Finance Ministry

September 21, 2023 1:32 PM

Finance Ministry declines reports of any distress regarding household savings & overall effect on economy

The Finance Ministry today decline the reports of any distress regarding household savings and its overall effect on economy. They stated that changing consumer preferences for various financial products are the primary reasons behind these trends. In a social media post, the Ministry said that between June 2020 and March this year, the Stock of Household Gross Financial Assets went up by 37.6 per cent, and the Stock of Household Gross Financial Liabilities went up by 42.6 per cent with...

September 18, 2023 4:34 PM

Finance Ministry approves various welfare measures for LIC agents and employees

The Finance Ministry today approved various welfare measures for Life Insurance Corporation of India (LIC) agents and employees. This move will benefit over 13 lakh agents and more than one lakh regular employees. Under these new measures, the Ministry has enhanced the gratuity limit from three lakh rupees to five lakh rupees for LIC agents. It has also enabled reappointed agents to be eligible for renewal commissions. The Ministry informed that the term insurance cover for the agents has al...

September 1, 2023 4:42 PM

Subscribers under National Pension System and Atal Pension Yojana grown more than 6.62 cr: Govt

The numbers of subscribers under the National Pension System (NPS) and Atal Pension Yojana together have grown to more than 6.62 crores. Finance Ministry said that total Asset under Management has reached 10 lakh crore rupees. Akashvani correspondent reports that NPS has been implemented for all Government Employees joining Central Government on or after 1st January 2004. Most of the State and UT Governments have also notified NPS for their new employees. It was also made available to e...

August 18, 2023 7:10 PM

Jan Dhan accounts cross 50 crore mark

The total number of Jan Dhan accounts have crossed 50 crore mark. Finance Ministry said, out of these accounts 56 percent accounts belong to women and 67 percent accounts have been opened in Rural and Semi-urban areas. The deposits in these accounts are more than two lakh crore rupees. The Ministry said, about 34 crore RuPay cards have been issued in these accounts free of cost. The average balance in Pradhan Mantri Jan Dhan Yojana accounts is over four thousand rupees and more than five cr...

July 28, 2023 9:37 PM

Government of India & Asian Development Bank signs a 200 million dollar loan for expanding urban services in Rajasthan

The Government of India and the Asian Development Bank today signed a 200 million dollar loan for expanding urban services in Rajasthan. The Finance Ministry said, this will provide finance for the ongoing Rajasthan Secondary Towns Development Sector Project to expand water supply and sanitation systems and enhance urban resilience. This will improve water supply systems in at least seven towns by converting all groundwater sources to surface water, and by installing one thousand 400 kilometre o...

July 14, 2023 9:28 PM

Maharashtra Govt announces portfolio allocation, Deputy CM Ajit Pawar gets Finance Ministry

Almost two weeks after NCP’s Ajit Pawar along with eight others were inducted into the Maharashtra Cabinet, the state government today announced the portfolio allocation. As per the new arrangement, BJP had to let go six of its portfolios while the Shiv Sena had to give up three. The new state cabinet now has 29 members, including the Chief Minister and two Deputy Chief Ministers. The cabinet can be further expanded to reach a total of 43 ministers. Akashvani Mumbai correspondent repo...