Replying to questions after addressing the RBI's Central Board of Directors here on Monday, Sitharaman said the central bank and the government are on board regarding digital currencies.
A new updated return filing system is proposed wherein a voluntary updated return can be filed within 2 years from the end of the relevant Assessment Year (AY)
The FM has taxed high where that hurts Indian local industries, and has gone liberal where the imports as inputs are critical for Indian industries to run the show
Pandemic blow is writ large. As against the 15th FC award of Rs 114,777 cr to Odisha for FY 21-23, State will be receiving Rs 70,674 cr
Under the PM e-Vidya programme, there will be 200 DTH channels dedicated to Classes 1 to 12, which will enable all the states to provide supplementary education in regional languages, the Finance Minister said.
What is noteworthy is the investment in cargo terminals, logistic parks, railways modernisation and importantly, the integration between the transport systems, it said.
There will also be a 1 per cent tax deducted at source (TDS) on the payments made for the transfer of digital assets.
Sitharam kept her look simple and elegant with the Bomkai Patta saree which was weaved in two colours- brown and red. She paired her saree with a white shawl and white face mask.
For better land records management, Sitharaman said the states will be encouraged to adopt Unique Land Parcel Identification Number to facilitate IT-based management of records.
The minister said that defence research and development will be opened up for the industry, startups and academia with 25 per cent of the defence research and development budget earmarked.
The programme will consist of 23 tele-mental health centres as a part of the network with NIHMANS being the central agency.
Coming to the Budget Estimates, the total expenditure in 2022-23 is estimated at Rs 39.45 lakh crore, while the total receipts other than borrowings are estimated at Rs 22.84 lakh crore.
In her Budget speech on Tuesday, Sitharaman stated that the risks of climate change are the strongest negative externalities that affect India and other countries.
The tax proposals will come into effect from April 1 after the passage of the Union Budget in Parliament.
At present, the Post Office deposits limited transfer of funds within their ecosystem as the same was not connected to the banking ecosystem..
The Finance Minister further said that Kisan drones will be used for crop assessments, land records, and spraying of insecticides to drive a wave of technology in the agriculture and farming sector.
In 2019, she had made the longest speech at two hours and 15 minutes (135 minutes), only to top that the next year, in 2020, to speak for over 160 minutes.
The Finance Minister said education in this university will be made available in different Indian languages and ICT formats.
The Reserve Bank of India (RBI) has already been deliberating upon various aspects relating to the central bank digital currency and private crypto currencies.
'Kawach' is indigenously developed anti-collision device to prevent accidents to achieve railways its goal of zero accidents.
Sitharaman said that projects, supported by energy transmission, IT communication, bulk water and sewerage, in national infrastructure pipeline which pertains to seven engines will be aligned with PM Gati Shakti Framework.
Natural farming will be promoted along the Ganga corridor, the Finance Minister said.
The PLI scheme has the potential for additional production of Rs 30 lakh crore worth products during the next five years, she added.
Union Finance Minister Nirmala Sitharaman while presenting the Union Budget on Tuesday said that India is set to clock growth rate of 9.2 per cent, which could be the highest in the world in the current fiscal.
Among 103 towns in Odisha, only a dozen passed the test of the geo-spatial and cartographic way of determining the growth in economic activity and development
The Economic Survey 2021-22, details the state of different sectors of the economy as well as reforms that should be undertaken to accelerate growth.
As per Deloitte, the Union Budget 202-23 may introduce additional deduction towards “work from home
Recently, the Union Finance Minister has said that the upcoming Budget will be of a kind never seen before. This drops the big clue.
In thier joint statement, Sitharaman and Yellen stressed "the importance of fighting financial crimes and on the effective implementation of the Financial Action Task Force (FATF) standards to protect our financial systems from abuse".
Finance Minister Nirmala is scheduled to meet heads of public sector banks (PSBs) on August 25 to review financial performance of the lenders and progress made by them to support the economy battered by COVID-19 pandemic.
The Centre announced eight economic relief measures for India Inc, state governments as well as microfinance credit users along with Rs 1.1 lakh crore loan guarantee scheme for Covid-affected sectors.
Finance Minister Nirmala Sitharaman discussed opportunities in India for growth and investment on the back of the reform measures taken by government, during a global investors roundtable organised by the US-India Strategic Partnership Forum (USISPF).
New Delhi: In a relief to savers, Finance Minister Nirmala Sitharaman on Thursday said the government will withdraw orders to cut interest rate on small savings schemes and assured to restore the rates to last quarter of the financial year ending on March 31. In a jolt to savers, the Finance Ministry on Wednesday had […]
New Delhi: Finance Minister Nirmala Sitharaman said on Monday that raising the FDI limit in the insurance sector to 74 per cent was necessary to help insurers deal with issues concerning financial stress. She said this while moving the Insurance (Amendment) Bill, 2021 for consideration and passage in the Lok Sabha. The amendment bill, that […]
New Delhi: Finance Minister Nirmala Sitharaman on Friday in Parliament said imported life-saving drugs including those for spinal muscular atrophy disease for personal use are exempted from basic customs duty but they attract five per cent GST. However, adhoc exemption from goods and services tax (GST) on imported life-saving drugs are given on a case-to-case […]
Bhubaneswar: Senior BJP leader and MP Aparajita Sarangi today met Union Finance Minister Nirmala Sitharaman and apprised her about the problems being faced by the Odisha EPF pensioners. Informing about her meeting with the Finance Minister, Sarangi said that she ‘discussed about the grievances of Odisha EPF Pensioners Association, Bank Retirees Federation and Ex-servicemen who […]
New Delhi: To boost digital payments, Union Finance Minister Nirmala Sitharaman on Monday proposed a Rs 1,500 crore scheme during her budget presentation. “To give a further boost to digital transactions, I earmark Rs 1,500 crore for a proposed scheme that will provide financial incentive to promote digital mode of payment,” Sitharaman said. Sitharaman also […]
Mumbai: The BSE Sensex soared over 2,000 points on Monday afternoon after Finance Minister Nirmala Sitharaman completed her first digital presentation of the Union Budget for FY21-22. Around 1.50 p.m., Sensex was trading at 48,346.88, higher by 2,061.11 points or 4.45 per cent from its previous close of 46,285.77 points. The Nifty50 on the National […]
New Delhi: In another bid to boost domestic manufacturing, the government on Monday announced a 2.5 per cent increase in customs duty on mobile chargers and some sub-parts of phones, a move that will make phones more expensive. Finance Minister Nirmala Sitharaman, during her Budget speech, said, “Withdrawing exemptions on parts of chargers and mobile […]
New Delhi: Finance Minister Nirmala Sitharaman on Monday announced a record sum of Rs 1,10,055 crore for Indian Railways of which Rs 1,07,100 crore is for the capital expenditure. She said the national transporter will monetise the Dedicated Freight Corridor (DFC) asset after commissioning. Presenting the Union Budget 2021-22, Sitharaman said, “I am announcing a […]