Ministry of Finance

The Ministry of finance is a vital department within the Government of India responsible for managing the nation's economic and financial affairs. This includes formulating and implementing fiscal policies, preparing the Union Budget, managing public finances, overseeing taxation, and regulating financial institutions. The ministry plays a central role in shaping India's economic strategy and implementing various economic reforms.

The Ministry of Finance is structured into several departments: the Department of Economic Affairs, the Department of Revenue, the Department of Expenditure, the Department of Financial Services, and the Department of Investment and Public Asset Management (DIPAM). Each department handles specific aspects of the country's financial management.

The ministry also collaborates with key institutions like the Reserve Bank of India (RBI), the Securities and Exchange Board of India (SEBI), and other financial regulators to ensure the stability and growth of the financial system.

As of now, the Ministry of Finance is headed by Nirmala Sitharaman, who has been serving as the Union Finance Minister since 2019. She is responsible for steering the ministry's policies and is one of the most prominent figures in the Indian government.

A viral claim that Finance Minister Nirmala Sitharaman had announced a proposal to introduce a 3-day weekend as part of the upcoming Union Budget.

BOOM found this claim to be false. A source at the Ministry of Finance confirmed that there is no such proposal to reduce the number of weekly working days to four. The claim was misleading and had no basis in reality