Tag: Finance Minister Nirmala Sitharaman

New Delhi: Finance Minister Nirmala Sitharaman on Monday kicked off the countdown to the Union Budget on February 1 by joining the ‘Halwa’ ceremony and with this, the Budget paper printing starts under utmost secrecy. Sitharaman, MoS (Finance) Anurag Thakur participated in the ‘Halwa’ ceremony on Monday, which was held at the Finance Ministry in […]

New Delhi: Emphasising on doubling the farm income of farmers across the country by 2022, Union Finance Minister Nirmala Sitharaman in her 2020-21 Budget speech said that the government has provided 11 crore farmers under Aspirational India programme. “Under Aspirational India programme, the first point is agriculture, irrigation and rural development. We are committed to […]

New Delhi: With major emphasis on transportation and the required infrastructure, Finance Minister Nirmala Sitharaman on Saturday made several announcements with an allocation of Rs 1.7 lakh crore for transport infrastructure. Presenting the Union Budget for the financial year 2020-21, Sitharaman said that the government plans to monetise 12 bundles of national highways of 6,000 […]

New Delhi: To address concerns of small depositors over failure of banks, Finance Minister Nirmala Sitharaman on Saturday proposed to raise the insurance cover on saving deposits five times to Rs 5 lakh. The decision assumes significance in the wake of a scam in the Punjab and Maharashtra Cooperative (PMC) Bank affecting lakhs of customers […]

Bhubaneswar: Even as the Union Budget 2020 offered taxpayers the option to choose between the existing income tax regime and a new system, the dual income tax system seems to have created confusion for individuals. Experts opined that though Finance Minister Nirmala Sitharaman has brought new lower personal income tax regime and introduced two options […]

New Delhi: India has taken yet another step towards building a credible strategic oil reserve by extending tax breaks to the Indian Strategic Petroleum Reserves Ltd (ISPRL) on income generated while replenishing oil stock in storage facilities. The Budget proposals presented by Finance Minister Nirmala Sitharaman in Parliament on Saturday has exempted tax on any […]

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 […]

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 […]

New Delhi: The Confederation of All India Traders (CAIT) here on Sunday wrote to Finance Minister Nirmala Sitharaman on the possibility of spread of coronavirus through currency notes and urged her to take the required steps. It also urged the government to introduce policies for promoting alternative modes of payment and look at the possibilities […]

New Delhi: Union Finance Minister Nirmala Sitharaman today announced the extension of the deadline for filing income tax returns and Goods and Services Tax- GST returns till June 30. Furthermore, the government has reduced charges for digital trade transactions and ATM cash withdrawals to promote online financial transactions at the time of the COVID-19 pandemic. […]

New Delhi: With the goal of enhancing digital infrastructure, deploying e-governance and e-services and make the nation digitally empowered, Prime Minister Narendra Modi had launched Digital India. But, amid the nationwide lockdown to curb the spread of COVID-19 disease in the country, the initiative faces the biggest challenge. COVID-19 lockdown has created an unprecedented situation. […]

New Delhi: The Finance Ministry on Friday released Rs 17,287 crore to states including Rs 802 crore for Odisha to enhance their financial resources during the COVID-19 (Coronavirus) crisis. Of this amount, Rs 11,092 crore is towards State Disaster Response Mitigation Fund (SDRMF) to all states. An amount of Rs 6,195 crore has been released […]

New Delhi: Finance Minister Nirmala Sitharaman on Thursday said the Indian economy is witnessing a strong recovery after a long and strict lockdown. Addressing a press conference to announce more stimulus measures to boost growth, she said macro-economic indicators are pointing towards recovery. COVID-19 active cases have declined from over 10 lakh to 4.89 lakh […]

New Delhi: Finance Minister Nirmala Sitharaman on Thursday announced a new job creation scheme by giving subsidy to those establishments that make new hires. The subsidy would be to cover for retirement fund contributions by employees as well as employers for two years, she said. Employees contribution (12 per cent of wages) and employer’s contribution […]

New Delhi: Finance Minister Nirmala Sitharaman on Thursday announced tax relief on select home sale deals, enhanced credit guarantee programme for small businesses and provide incentives for new job creation as the government widened stimulus measures to boost the economy. The measures, that also include additional fertiliser subsidy and already announced production-linked inventive scheme for […]