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The Latest Breaking News from The Finance Ministry

Centre releases ₹1.18 lakh cr as third instalment of tax devolution to states in June

The Centre has released ₹1.18 lakh crore as the third instalment of tax devolution to states in June, the Finance Ministry said on Monday.

The Hindu

Israel Poised To Release World’s First Digital Government Bond

The Tel Aviv Stock Exchange (TASE) and Israel’s Finance Ministry prepare for a digital Israel Bond traded on blockchain platform.

Zenger

Andhra Pradesh: Union government lifts component-wise ceiling on payments in the execution of Polavaram irrigation project

This restriction has been hampering funds flow from the Central government, and with the cap going, the State government will be able to expedite the execution of the project, says Shashibhushan Kumar, Principal Secretary, Water Resources Department

The Hindu

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Andhra Pradesh: Finance Ministry approves proposal to release ₹12,911 crore for completion of Polavaram project up to 41.15 metres

The Ministry of Finance gives its in-principle nod for release of ₹2,000 crore towards the cost of repairing the damages caused to the irrigation project by the Godavari floods

The Hindu

SEC strips Asia Wealth of securities business licence

The Finance Ministry has revoked a securities business licence of Asia Wealth Securities (AWS), as proposed by the Securities and Exchange Commission (SEC) for misuse of client funds without permission.

Bangkok Post

Rubber deal set to boost Thai firms in global market

The Finance Ministry, in collaboration with the Thai Chamber of Commerce and the Rubber Authority of Thailand, has signed a letter of intent for the Capital Flow in Rubber Industrial Estate project to boost the international competitiveness of entrepreneurs in the rubber supply chain.

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Government revenue beats target amid growth

The Finance Ministry reported government revenue collection for the first seven months of fiscal 2023 (October to April) exceeded the target by 112 billion baht, mainly contributed by agencies other than the Revenue Department, says Pornchai Thiraveja, director-general of the Fiscal Policy Office.

Bangkok Post

Leading the economy

The business sector is calling for the new government to appoint appropriate leaders to take the helm at economic ministries, in particular the Finance Ministry, as they want to see the country progress without interruption amid several internal and external challenges.

Bangkok Post

MFP needs solid team

Statistically, it is often observed that after a general election, the stock index experiences a significant jump, reflecting the heightened confidence of investors once the political scene becomes clearer.

Bangkok Post

Finance Ministry waives duty and agri cess on crude soybean, sunflower oil imports

The finance ministry has exempted imports of crude soya bean and sunflower oil from basic customs duty and agriculture infrastructure and development cess till June 30, subject to certain conditions.

The Hindu

Lula pick for Brazil central bank key role says he doesn't always agree with governor

Brazil's executive secretary of the Finance Ministry, Gabriel Galipolo - who is due to be nominated for a key role at the country's central bank - said on Tuesday he has good relations with central bank Governor Roberto Campos Neto but does not always agree with him.

Reuters

Ministry sets targets for tax reform

The Finance Ministry has set four targets for tax reform, aiming to boost revenue to cover expenses and deal with future economic uncertainties, says Fiscal Policy Office director-general Pornchai Thiraveja.

Bangkok Post

Targeted approach utilised for aid

The Finance Ministry has continued to maintain its targeted fiscal policy, including the provision of financial aid directly to specific groups, helping the country save on budget spending, says Fiscal Policy Office (FPO) director-general Pornchai Thiraveja.

Bangkok Post

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The Hindu

Centre plans an ‘overhaul’ of its research institutions

The DST exercise is part of a larger project initiated by the Centre to reduce the number of autonomous institutions funded by various Ministries.

Bangkok Post

Finance Ministry trims growth forecast

The Finance Ministry has lowered its 2023 economic growth outlook to 3.6% from 3.8% projected earlier, on expectations of a fall in exports as global demand weakens.

Bangkok Post

IBank targets fewer NPLs

The Islamic Bank of Thailand (IBank) aims to reduce its non-performing loans (NPLs) to 8 billion baht this year, from the current level of 13 billion baht, by helping its major corporate customers restructure their debt, says the bank's president Thaweelap Rittapirom.

Reuters

Germany to spend 26.6 billion euros on refugees in 2023

Germany is planning to spend 26.6 billion euros ($29.09 billion) on refugees this year, about 3 billion euros less than the year before, the Finance Ministry confirmed to Reuters on Wednesday.

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Bangkok Post

BoT to aid new government on economic policies

The Bank of Thailand (BoT) will work with the new government on coordinating fiscal and monetary policies to boost the economy after the Finance Ministry and central bank reduced economic stimulus measures amid signs of recovery.

Bangkok Post

Ethanol tax incentives mulled

The Finance Ministry stands ready to use tax measures to support the use of ethanol to produce bio-ethylene, a major feedstock used for making bio-based polyethylene, says a ministry source who requested anonymity.

Bangkok Post

Arkhom says SVB's failure unlikely to affect country

The Finance Ministry is closely monitoring the collapse of Silicon Valley Bank (SVB) to see if it has any impact on Thailand, says Finance Minister Arkhom Termpittayapaisith.

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