Tag: Finance Minister

New Delhi: A mini-stimulus to take the economy out of five-year low alongside giving some tax relief to common man may be on the cards, as Finance Minister Nirmala Sitharaman does a tightrope walk balancing the needs of the economy and fiscal constraints in her maiden Budget. The Budget to be presented on Friday is […]

New Delhi: The beleagured power sector may get some relief as Finance Minister Nirmala Sitharaman on Friday said that the government will improve the “Ujwal DISCOM Assurance Yojana” and it will announce a package for the power sector. She also said that the government will come out with new tariff policy for the power sector. […]

New Delhi: Finance Minister Nirmala Sitharaman’s maiden Budget is “mega investment-oriented” with a blueprint to transform India’s economy to reach USD 5 trillion by 2025, India Inc said Friday. While Vedanta Resources Chairman Anil Agarwal termed it a progressive Budget, RPG Enterprises Chairman Harsh Goenka said it was a blueprint to achieve exponential growth. Presenting […]

New Delhi: With an aim to reduce imports along with spurring domestic production, Finance Minister Nirmala Sitharaman has proposed to raise custom duty on over 70 items in the full Budget 2019-20. Traditionally, the governments adjust custom duties to protect domestic industry and sometimes to allow cheaper raw material imports to spur manufacturing sector. In […]

New Delhi: Finance Minister Nirmala Sitharaman Saturday said the NBFC crisis seems to have bottomed out and the government along with the RBI will closely monitor the situation to ensure that the sector comes out of the wood. She further said that the government takes all the steps to keep inflation under check while dismissing […]

New Delhi: The government is targeting the second half of the fiscal year to raise funds through overseas bond sales, Finance Secretary Subhash Chandra Garg said. “We will target the second half,” Garg told IANS in an interview on being asked if this will happen this fiscal. The quantum, timing and number as well as […]

New Delhi: Amid a debate over variance in numbers in the Economic Survey and the Budget, Finance Minister Nirmala Sitharaman Wednesday said both the documents present consistent picture and her budget numbers are authentic and projections based on realistic estimates. “The data which is given in the Budget is 100 per cent above board…there need […]

New Delhi: Days after Arvind Subramanian’s paper on overestimation of GDP figures sparked a debate, the former Chief Economic Advisor Subramanian on Wednesday came out with further evidence on the topic. One of the key arguments he made was that post-2011 there has been a “collapse” in investment by 9.5 per cent, export by 16.7 […]

New Delhi: Several of ‘maharatna’ and ‘navratna’ companies, including ONGC, IOC, GAIL and NTPC, could soon become independent board-run entities outside the scrutiny of CAG and CVC if the government implements a proposal to take out the PSU tag from some of the entities after its shareholding falls below the threshold 51 per cent mark. […]

New Delhi: Finance Minister Nirmala Sitharaman Friday said the big picture presented in the Budget is backed with a plan to increase investment without compromising on the fiscal consolidation roadmap. Replying after a general discussion on the Union Budget 2019-20 in the Rajya Sabha, the minister said, “Comprehensive steps” have been envisaged for the next […]

New Delhi: Reacting to the death of Cafe Coffee Day founder V G Siddhartha, Finance Minister Nirmala Sitharaman on Thursday said business failures in the country should not be tabooed, or looked down upon. Responding to a debate on the Insolvency and Bankruptcy Code (IBC) in the Lok Sabha, Sitharaman said that businessmen should get […]

New Delhi: Following a meeting with Finance Minister Nirmala Sitharaman on Thursday, India Inc is hopeful of receiving a stimulus from the Finance Ministry aimed at helping revive demand and consumption. The government is holding a series of consultations with industry to ascertain the key causes of the current slowdown and understand ways to fix […]

Bhubaneswar: The Bharatiya Janata Party (BJP) MPs from Odisha have requested Union Tourism Minister Prahlad Singh Patel to include the Jagannath temple in Puri and Sun Temple in Konark in the list of India’s Iconic Tourist Sites. In a letter to the Union Minister, released to media on Friday, the MPs have sought his personal […]

New Delhi: The slowdown-hit economy may soon get a booster dose from the government with Finance Ministry working on a stimulus package for the industry may include a slew of financial measures ranging from tax cuts, subsidies and other incentives. Official sources said the package would not only aim to reduce the cost for the […]

New Delhi: Prime Minister Narendra Modi on Thursday reviewed the state of economy and the likely steps to arrest the current slowdown with Finance Minister Nirmala Sitharaman and senior bureaucrats, sources said. The Prime Minister also reviewed various proposals that might be used to shore up stalling growth, the sources added. The finalised stimulus package, […]