Tag: Finance Minister

New Delhi: Finance Minister Nirmala Sitharaman on Monday said corporate tax rate for companies with over Rs 400 crore turnover will be gradually cut to 25 per cent and the government will support wealth creators. In her maiden Budget in July, she had cut corporate tax for companies with annual turnover of up to Rs […]

New Delhi: Finance Minister Nirmala Sitharaman on Friday proposed to establish an organisation to provide credit enhancement for infrastructure and housing projects with an aim to enhance fund flows towards such projects. Announcing steps to prop up the slowing economy, the minister said that in order to improve domestic bond market, the finance ministry will […]

New Delhi: Finance Minister Nirmala Sitharaman has got loads of support from the Union Cabinet and her party on the steps announced by her to combat the economic slowdown in the country. Prime Minister Narendra Modi gave a thumbs up to the announcements tweeting: “The measures announced by Finance Minister Nirmala Sitharaman will facilitate ease […]

Mumbai: Indian equities along with the rupee which have lately faced headwinds of massive foreign fund outflows along with disappointing quarterly earning results will get a boost via Central government’s policy measures to prop up growth along with falling crude oil prices, experts said. However, the escalation in the US-China trade war and release of […]

New Delhi: The liberal FDI regime is expected to attract foreign players to invest in the country which is facing a slowdown. Seeking to make India more attractive FDI destination globally, Sitharaman had said that government would examine suggestions of further opening up of FDI in aviation, media (animation) and insurance sectors in consultation with […]

New Delhi: A government constituted Direct Tax Code task force, headed by CBDT member Akilesh Ranjan, is arguing for a new tax regime for individuals. It has proposed dramatic changes to the Income Tax Act, which dates back 58 years. People earning between Rs 5 lakh and Rs 10 lakh per year may have to […]

Chennai: Finance Minister Nirmala Sitharaman on Sunday allayed fears of job losses following the proposed merger of public sector banks, saying not even one employee shall be removed following the amalgamation. “Absolutely, ill informed. I want to assure every union in everyone of these banks to please recall what I have said last Friday. When […]

Chennai: Amid the economic slowdown plunging August sales of automobiles to the lowest since 1997-98 indicating further worsening of demand and investment, Finance Minister Nirmala Sitharaman will elaborate on the decisions and initiatives taken by the Modi2.0 government in last 100 days. She will address media on “Furthering Development — 100 days of bold initiatives, […]

New Delhi: The Delhi High Court on Thursday sought the CBI’s response on a plea of former finance minister P Chidambaram, lodged in Tihar Jail in the INX Media corruption case, seeking bail in the matter. Justice Suresh Kait issued a notice to the Central Bureau of Investigation (CBI) on Chidambaram’s bail plea in which […]

New Delhi: Finance Minister Nirmala Sitharaman on Saturday announced a new scheme — Remission of Duties or Taxes on Export Product (RoDTEP) — to incentivise exporters at an estimated cost of Rs 50,000 crore to the exchequer. The announcement comes in the backdrop of India’s merchandise exports declining by 6.05 per cent to USD 26.13 […]

New Delhi: As part of the steps taken to boost exports, India will organise annual mega shopping festivals, similar to the ones held in Dubai, to facilitate exchange between global producers and consumers, Finance Minister Nirmala Sitharaman said on Saturday. She said that these “mega shopping festivals” will be held at four destinations across the […]

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 […]

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 […]

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 […]

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 […]