Department Financial News

Nirmala Sitharaman on Saturday asked civil accounts services officials to work towards making the government's annual accounts more approachable and user-friendly. Addressing the 49th Civil Accounts Day event here, Sitharaman lauded the Indian Civil Accounts Service (ICAS) officers, led by the Controller General of Accounts (CGA) for the «silent technological revolution» in which states are finding a lot more ease of operation and ease of getting their government business done by adopting the public financial management system (PFMS). «I would also like you to examine, in consultation with the CAG, whether it would be possible to make the annual accounts more approachable and user-friendly and allow citizens to analyse easily and generate customisable and simpler reports,» Sitharaman said. She said that since a lot of digital integration has already taken place with the states, more research can be carried out based on the data set available with the CGA. «If you're able to make the report a lot more user-friendly, that itself can generate a lot of interest in the work that you do,» the Minister said.

The federal government says the owner of a North Carolina company has pleaded guilty to trying to sell electronic devices that have military applications to China without a required exporting license

income tax department on Friday conducted a survey of premises linked to the Shapoorji Pallonji (SP) Group. The department's surveys often involve preliminary investigation.

NITI Aayog has set up the Women Entrepreneurship Platform's (WEP) Mizoram Chapter, the first of its kind in the northeastern region, to boost entrepreneurship among the women. Mizoram Chief Minister Lalduhoma, addressing the state workshop on women-led development through entrepreneurship, expressed his gratitude to NITI Aayog for selecting the state as the first state in the northeast to establish a WEP chapter. The Chief Minister said that the presence of Member, NITI Aayog V.K. Paul at this event is an encouragement for all and «we firmly believe it would yield positive outcomes».

Trump administration has cancelled several international aid projects, including contracts supporting HIV, polio, and malaria programmes in some of the world’s most impoverished communities. Earlier this week, the administration officially terminated these contracts through brief, direct emails. Around 5,800 contracts under USAID have been revoked. These included vital projects such as refugee aid, tuberculosis clinics, and polio vaccination initiatives, according to The New York Times.

inflation could provide cover for the Federal Reserve to delay cutting interest rates for some time. Consumer spending, which accounts for more than two-thirds of U.S. economic activity, dropped 0.2% last month after an upwardly revised 0.8% increase in December, the Commerce Department's Bureau of Economic Analysis said on Friday. Economists polled by Reuters had forecast consumer spending gaining 0.1% after a previously reported 0.7% surge in December, when outlays were boosted by pre-emptive buying in anticipation of tariffs which would raise prices for imported goods.

Traders of futures contracts that settle to the Federal Reserve's policy rate maintained bets on Friday that the U.S. central bank will restart cuts to short-term borrowing rates in June after data showed inflation rose in line with expectations in January. They still see a second cut as likelier than not in September.

Jeffrey Epstein, a disgraced financier and convicted offender, files were made public by the Justice Department on Thursday after Attorney General Pam Bondi pledged to do so. The US DOJ made public a 200-page document that included flight logs, Jeffrey Epstein's contact details, and other documents that marked the much-anticipated release of Jeffrey Epstein’s contact list revealing names of celebrities, politicians, and business figures, according to a report by The NY Post. «This Department of Justice is delivering on President Trump's pledge to openness and revealing the heinous deeds of Jeffrey Epstein and his accomplices,» Attorney General Pam Bondi said in a statement, as per a report.

BJP leader BS Yediyurappa and three other accused in connection with a POCSO Act case to appear before it on March 15. The court which handles cases booked under Protection of Children from Sexual Offences Act took fresh cognisance of a charge sheet filed by the Karnataka Criminal Investigation Department (CID) against 82-year-old Yediyurappa, a former chief minister. The Karnataka High Court on February 7 had directed the special court to consider afresh and pass appropriate orders on the CID's final report in the case. The High Court had issued this order while partly allowing the petition filed by Yediyurappa challenging proceedings against him under the POCSO Act, and remitting back to the trial court the criminal case registered against him. It had also granted anticipatory bail to him.

U.S. Justice Department have exposed a string of high-profile celebrity names linked to the convicted sex offender, including pop legend Michael Jackson, actor Alec Baldwin, supermodel Naomi Campbell, Rolling Stones frontman Mick Jagger, and even Prince Andrew. The bombshell documents, unsealed on Thursday, have once again thrust Epstein's dark legacy into the public eye, offering a glimpse into the extensive web of powerful figures who once graced his contact list. While none of the named celebrities have been accused of any crimes related to Epstein's criminal activities, their inclusion in the files has ignited fresh speculation about the late financier’s far-reaching influence.

Karnataka Food Safety Department found that some idlis served in Bengaluru may pose serious health risks. Of the 500 samples collected from 251 hotels and roadside vendors, 51 were declared unsafe. The tests revealed the presence of carcinogenic substances, raising fears about long-term health consequences for consumers.

NASA has confirmed that astronauts Sunita Williams and Butch Wilmore will return to Earth in late March 2025. Originally scheduled for an earlier return, their departure was delayed due to mission rescheduling and technical challenges. Crew-10, which will replace them aboard the International Space Station (ISS), is set to launch on 12 March 2025 at 7:48 PM EDT. Williams and Wilmore, part of Crew-9, are expected to begin their journey home around a week later, barring unforeseen weather or operational delays.

Tesla Inc. is seeking approval to offer ride-hailing services in California, a key step by Elon Musk’s company to begin carrying paying customers while its traditional car-selling business falters.

Pamela Bondi has declassified the first phase of documents related to Jeffrey Epstein, shedding light on his crimes against more than 250 underage girls. While the Justice Department hails this as a victory for transparency, critics argue that the documents contain little new information.

Finance Secretary, Tuhin Kanta Pandey, has been appointed as the 11th chairperson of the Securities and Exchange Board of India (SEBI) for a three-year term. He will succeed Madhabi Puri Buch, who will complete her tenure as SEBI’s first woman chairperson on February 28, 2025. According to a notification from the Appointments Committee of the Cabinet (ACC) on Thursday, February 27, the Cabinet has approved the appointment of Pandey, IAS (OR:1987), Finance Secretary and Secretary, Department of Revenue, to the post of SEBI chairman. Pandey's appointment is initially for three years from the day he assumes charge.

Trump administration has begun firing employees at the National Oceanic and Atmospheric Administration, one of the world's premier centers for climate science.

Infosys has not violated any labour laws, according to an interim report by the Karnataka labour department submitted to the state government reviewing the recent terminations by the company. The department is expected to file its final report in about a week, along with a copy to the Union labour department.

India Meteorological Department (IMD), the day's minimum temperature is expected to drop to 18.14°C, while the maximum may reach 28.07°C. Relative humidity stands at 37%, and a steady breeze is blowing at 37 km/h.

Captain America: Brave New World.