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Tag: Finance Minister

Sitharaman Discusses Post-Pandemic Economic Recovery, Other Issues With World Bank Chief
Sitharaman Discusses Post-Pandemic Economic Recovery, Other Issues With World Bank Chief

The finance minister also discussed the preparations for the upcoming Climate Change Conference in Glasgow.

Nirmala Sitharaman
Nirmala Sitharaman Meets US CEOs, Asks Them To Invest In India

As part of her US visit, Sitharaman is also meeting heads of various corporations to explore various investment potential and make in India initiatives.

Nirmala Sitharaman
India Looks At Close To Double Digit Growth This Year: Nirmala Sitharaman

Sitharaman said India will attract investments and have the purchasing power to demand the best of things from whoever produces it.

Nirmala Sitharaman
Finance Minister Discusses Investment Opportunities, Reforms In India With Corporate Leaders In US

Nirmala Sithararam elucidated the intent of the country to be more inclusive in development and growth, Prahlad Singh said after his meeting with the Finance Minister in Boston.

FM Sitharaman Discusses Key Areas Of Cooperation For Supporting Recovery Of BRICS Nations
FM Sitharaman Discusses Key Areas Of Cooperation For Supporting Recovery Of BRICS Nations

Sitharaman remarked that India attaches great significance to presenting this statement before the global community since it unanimously voices the view of BRICS countries on the critical aspects underpinning current international policy conversations on post-pandemic recovery.

Additional DA, DR, Arrears For Central Govt Employees, Pensioners
EPF Contribution: Centre Raises EPF Tax Exemption On Interest Limit To Rs 5 Lakh

New Delhi: Finance Minister Nirmala Sitharaman on Tuesday raised the limit for tax exemption on interest earned on provident fund contribution by employees to Rs 5 lakh per annum in specified cases as against Rs 2.5 lakh proposed in the Budget. However, the minister in her reply to discussion on Finance Bill 2021 in the […]

FM Nirmala Sitharaman Attends G20 Central Bank Governors' Meet

New Delhi: Union Finance and Corporate Affairs Minister Nirmala Sitharaman have participated virtually in the First G20 Finance Ministers and Central Bank Governors (FMCBG) meeting under the Italian Presidency to discuss policy actions for transformative and equitable recovery. The other issues on the agenda on Friday included global economic outlook, financial sector issues, financial inclusion […]

Benefiting Poor Not Some 'Damaad': FM Sitharaman's Jibe On Congress
Benefiting Poor Not Some 'Damaad': FM Sitharaman's Jibe On Congress

New Delhi: Union Finance Minister Nirmala Sitharaman lashed out at the Congress during her response to the Budget discussion in the Rajya Sabha and said the government schemes are meant only to benefit the poor and not meant for “some Damaad” (son-in-law in clear reference to Robert Vadra). Although she did not take any name […]

Budget 2021: No Change In Income Tax Slabs; Relief For Senior Citizens

Bhubaneswar: Finance Minister Nirmala Sitharaman on Monday presented the Union Budget for the coming financial year and promised a slew of measures to revive the economy which took a beating due to the COVID-19 induced lockdown last year. People across the nation heard in bated breath Sitharaman’s speech as they eagerly waited for announcements which […]

Modify New GST Notification, Traders Urge Council & Finance Minister
Modify New GST Notification, Traders Urge Council & Finance Minister

Kolkata: Trading community urged Union Finance Minister Nirmala Sitharaman and Goods and Services Tax (GST) Council on Sunday to withdraw certain provisions of the new GST notification issued a few days back. The government had notified certain changes to the GST Rules on December 22 and some of the rules are set to be applicable […]

Centre To Allocate Rs 10,000 Cr More For PM Garib Kalyan Rozgar Yojana
Centre To Allocate Rs 10,000 Cr More For PM Garib Kalyan Rozgar Yojana

New Delhi: The Centre will allocate an additional amount of Rs 10,000 crore for the Prime Minister Garib Kalyan Rozgar Yojana in a bid to boost rural employment amid the pandemic, Finance Minister Nirmala Sitharaman said on Thursday. The scheme, which includes various employment generating schemes including the MGNREGs, PMGSY among others, is in progress […]

Keep Lending To MSMEs, But Support Other Businesses Too: FM To PSBs

New Delhi: Finance Minister Nirmala Sitharman on Tuesday held a review meeting with the Managing Directors of public sector banks (PSB) and asked them to continue reaching out and lending to MSMEs under the collateral-free Emergency Credit Line Guarantee Scheme. In the video conference, she also directed the state-run lenders to try meeting the credit […]

FM Sitharaman Announces Major Reforms In Coal Mining, 50 Blocks To Be Offered Soon

New Delhi: Speaking to the media here on Saturday, Finance Minister Nirmala Sitharaman announced major reforms in the mining of minerals through a seamless composite exploration-cum-production regime. FM Nirmala Sitharaman said to introduce competition, transparency and the private sector participation in the coal sector, the government would go for the revenue sharing mechanism instead of […]

Collateral loan
FM Sitharaman announces booster dose for MSMEs

New Delhi: Finance Minister Nirmala Sitharaman on Wednesday announced a booster dose for MSMEs including Rs 3 lakh crore collateral free automatic loan for businesses. This will benefit 45 lakh small businesses, she said detailing parts of the Rs 20 lakh crore economic stimulus package. Union Finance Minister Nirmala Sitharaman announces emergency credit lines to […]

Banks remain open, ATMs filled up: Union Finance Min

New Delhi: Banks are ensuring that their branches remain open and ATMs (automated teller machines) functional with adequate cash amid the nationwide lockdown, according to the Union Finance Minister, here on Monday. Taking to Twitter, Finance Minister Nirmala Sitharaman also said banking correspondents were active. “All banks are ensuring that their branches are kept open, […]

GST Hike To Make Mobile Phones Costly

New Delhi: With the GST Council, headed by Finance Minister Nirmala Sitharaman, increasing the GST on mobile phones from 12 per cent to 18 per cent on Saturday, industry experts feel it would hit the industry and the consumers hard. Brands are in no position to absorb this impact. “They will, most certainly, decide to […]

Yes Bank Depositors' Money Safe, RBI Working On Resolution: FM

New Delhi: Finance Minister Nirmala Sitharaman on Friday said that Reserve Bank of India (RBI) is working towards for early resolution of Yes Bank issue and she is in constant touch with the Governor. “RBI Governor has assured that there will be no loss to any Yes Bank depositor,” she said, adding that the steps […]

With GDP Growth At 7-Yr Low, Finmin Sitharaman Says Slowdown Has Bottomed Out

New Delhi: The decline in the economic growth has bottomed out, said the finance ministry on Friday as the GDP growth slowed to a nearly seven-year low of 4.7 per cent in the quarter ending December 2020. The National Statistical Office (NSO) has, however, upwardly revised GDP growth estimates for the first quarter of 2019-20 […]

Govt Closely Monitoring Agriculture Credit Given By Banks: FM

New Delhi: Finance Minister Nirmala Sitharaman on Saturday said the government is monitoring farm credit given by banks in rural areas, adding that she expects to meet the increased target of Rs 15 lakh crore for the next fiscal. The government in Budget 2020-21 has raised the farm loan disbursal target by 11 per cent […]

FM Sitharaman Responds In Parliament To Data-Fudging Accusations

New Delhi: Finance Minister Nirmala Sitharaman on Tuesday said that while the current government has been transparent in declaring extra-budgetary expenses the previous UPA regime chose to keep its books clean by pushing its liabilities from oil subsidies to the state-run oil marketing companies (OMCs). Responding to accusations of data and account fudging in the […]

Work Begins On Budget Proposals; DFS Approves Raising Deposit Insurance To Rs 5 Lakh: Fin Secretary

New Delhi: Insurance cover on bank deposits has been increased to Rs 5 lakh from Rs 1 lakh effective Tuesday, the Reserve Bank of India (RBI) said in a statement. The cover is provided by the Deposit Insurance and Credit Guarantee Corporation (DICGC), a wholly-owned subsidiary of the RBI. This, the RBI said, has been […]

Govt Didn't Have Chance To Gain From LTCG Tax: FM

New Delhi: Finance Minister Nirmala Sitharaman on Sunday said the decision not to remove Long Term Capital Gains (LTCG) tax in the Budget was because utility of this tax so far has not been tested due to poor market conditions and therefore government has not been able to assess the returns from it. She was […]

Budget 2020: Sensex Plummets 988 Pts; Nifty Below 11,700

Mumbai: The BSE Sensex plummeted 988 points on Saturday to close below the key 40,000-mark, led by an intense broad-based selloff after the Union Budget for 2020-21 failed to live up to market expectations. Experts said the Budget has been below par considering investors had extremely high expectations from the government to revive the economy. […]

When Economic Survey Quoted 'Arthashastra', 'Thirukural'

New Delhi: When India’s Economic Survey, which serves as the official report of the state of the economy, talked about Kautilya’s “Arthashastra” and Thiruvalluvar’s “Thirukural”, it turned a nation with a fiscal deficit surpassing 3.3 per cent into a “dominant economic power globally” by “design”. Ironic and detached from political and fiscal reality it may […]

Pak, B'desh, Afghan Citizens Given Indian Citizenship: FM Sitharaman

Chennai: Union Finance Minister Nirmala Sitharaman on Sunday said the Citizenship (Amendment) Act (CAA) is a law to confer Indian citizenship to a person and not a law to cancel citizenship. Sitharaman said during the past six years 2,838 persons from Pakistan, 914 persons from Afghanistan and 172 persons from Bangladesh have been conferred Indian […]

FinMin Meets News Broadcasters Federation As Latter Seeks Parity In GST With Newspapers

New Delhi: Union Finance Minister Nirmala Sitharaman today met the members of the executive body of News Broadcasters Federation (NBF) in New Delhi. During the meeting, the NBF represented by President Arnab Goswami, Vice Presidents Jagi Mangat Panda and Sanjive Narain, and Secretary-General R Jai Krishna handed over a recommendation to the Finance Minister requesting […]

Cong Which Led Freedom Movement Can't Stand With 'Tukde Tukde' Gang, This Is Different Cong: Sitharaman

Jaipur: Accusing the Congress of indulging in appeasement politics and creating confusion over the amended Citizenship Act, Union minister Nirmala Sitharaman on Sunday claimed that the Congress of today was different from the one which had led the freedom movement as it now stands with those who commit violence. The BJP was clearing confusion among […]

FM Unveils Rs 102 Lakh Cr Of Infra Projects For Next 5 Yrs

New Delhi: Finance Minister Nirmala Sitharaman on Tuesday unveiled Rs 102 lakh crore of infrastructure projects that will be implemented in the next five years as part of the government’s spending push in the infrastructure sector. Addressing a press conference, she said Prime Minister Narendra Modi had in his Independence Day speech spoken of investing […]

Platform For E-Auction Of PSB Attached Assets Launched

New Delhi: Finance Minister Nirmala Sitharaman here on Saturday launched a common e-auction platform for assets attached by the public sector banks (PSBs). The platform, equipped with property search features and navigational links to all PSB e-auction sites, provides single-window access to information on properties up for e-auction as well as the facility for comparison […]

Govt Releases Rs 35,298 Cr GST Compensation To States

New Delhi: Facing heat over delay in payment of GST compensation, the central government on Monday released Rs 35,298 crore to states to make up for the loss of revenue due to rollout of the Goods and Services Tax (GST). When GST was rolled out on July 1, 2017, states were through legislation promised to […]

Centre Will Honour GST Compensation Payment To States: FM Sitharaman

New Delhi: With states not being paid compensation for loss of revenue from implementation of GST since August, Finance Minister Nirmala Sitharaman on Thursday assured the Centre will honour its commitment but did not say by when the dues will be cleared. States that surrendered powers to collect taxes on goods and services after local […]

Govt Looking At Credit Rating Process For Corporates: FM

Chennai: Finance Minister Nirmala Sitharaman on Saturday said the government is looking at the methodologies used by credit rating agencies in rating corporates. She also said the Narendra Modi government decided against joining the Regional Comprehensive Economic Partnership as the offer did not match India’s expectations and aspirations. Delivering the sixth G. Ramachandran Memorial Lecture […]

Deposit insurance cover to be hiked from Rs 1 lakh: FM

New Delhi: Finance Minister Nirmala Sitharaman on Friday said cooperative banks would be under the RBI’s prudential norms to prevent any PMC Bank-like situations, there will be a rise from Rs 1 lakh in deposit insurance cover for account holders in the new FRDI Bill and the Finance Ministry will shortly move the proposal before […]

Govt Mulls Raising Insurance Cover On Bank Deposits To Above Rs 1 lakh: FM

New Delhi: Finance Minister Nirmala Sitharman on Friday said the government will bring legislation on raising insurance cover on bank deposits from the current Rs 1 lakh and regulating multi-state cooperative banks. These legislations will be brought during the Winter Session of Parliament starting coming Monday, the minister told reporters here. These legislations assume significance […]

In A First, Finance Minister Seeks Response Of Industry On Tax Rates

New Delhi: In line with Finance Minister Nirmala Sithraman’s policy of discussion with stakeholders on policy matters, in a first the Finance Ministry has started the next budget planning by inviting suggestions on changes in direct and indirect taxes, including their rates, from industry and trade associations. Sitharaman, who had earlier announced additional measures to […]

Cabinet Approves Rs 25k Cr Fund For Stalled Housing Projects

New Delhi: The government on Wednesday approved setting up of a Rs 25,000 crore bailout fund to finance 1,600 stalled housing projects as it looks to boost the economy by kickstarting incomplete projects. The decision was approved by the Union Cabinet at a meeting held on Wednesday under the chairmanship of Prime Minister Narendra Modi. […]

Shared Stand With FM Sitharaman On Some Issues In JNU: Abhijit Banerjee

New Delhi: Nobel laureate Abhijit Banerjee has said that Finance Minister Nirmala Sitharaman was his contemporary in Jawaharlal Nehru University (JNU) and they both stood on “similar” lines on “certain” issues during their academic years in the university. Speaking in a television interview, he said that it was not as if the two had deep […]

No Monday Blues: Sensex Up Over 1,200 Points

Mumbai: Bull run in the domestic stock markets continued for the second straight day as the BSE Sensex rose over 1,200 points on Monday. The corporate tax cut rate announced on Friday that was dubbed as mother of all measures to combat slowdown continued to boost the investor sentiments. At 12.37 p.m., the Sensex was […]

Corp tax cut makes India an investment destination, to attract foreign firms to set up units: FM

New Delhi: India has become a highly competitive investment destination post corporate tax reduction as the rates are now lower than that in China and most Southeast Asian countries, Finance Minister Nirmala Sitharaman said on Sunday. India was earlier at disadvantage because of a couple of factors and on top of it was the high […]

Mahindra shuts Tweeple questioning FM move

New Delhi: The Mahindra Group chairman Anand Mahindra has come out in Finance Minister Nirmala Sitharaman’s support, saying it is not necessary that people always get things right the first time. After a user posted to him that the Finance Minister did not have wisdom to cut corporate tax the first time when she presented […]