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Tag: Fm Sitharaman

Funds Under MPLADS For 2019-20 Cleared: FM Sitharaman

New Delhi: Finance Minister Nirmala Sitharaman on Tuesday said in the Rajya Sabha that fund under the Members of Parliament Local Area Development Scheme (MPLADS) for 2019-20 have been cleared. TRS MP B Lingaiah Yadav had raised the matter during the Zero Hour in the House. Responding on the issue, Sitharaman said several MPs from […]

Economic Survey
FM Sitharaman Tables Economic Survey 2020-21 In Lok Sabha

New Delhi: Finance Minister Nirmala Sitharaman on Friday presented the Economic Survey that details the state of the economy ahead of the government’s Budget for fiscal year beginning April 1, 2021. The Economic Survey 2020-21, authored by a team led by Chief Economic Adviser Krishnamurthy Venkata Subramanian, details the state of different sectors of the […]

CAIT Urges FM Sitharaman To Defer Implementation Of 'Rule 86-B' In GST
CAIT Urges FM Sitharaman To Defer Implementation Of 'Rule 86-B' In GST

New Delhi: Traders’ body Confederation of All India Traders (CAIT) has urged Finance Minister Nirmala Sitharaman to defer the implementation of ‘Rule 86-B’ in GST, scheduled to be implemented from January 1, 2021. In a letter to the Finance Minister on Friday, the traders’ body said that the recent notification of the Goods and Services […]

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 […]

Relief For Taxpayers: No TDS On Interest Income Till June 30

New Delhi: The Central Board of Direct Taxes (CBDT) has extended the validity of forms 15G and 15H by three months to June 30, 2020 and prevent banks from deducting TDS on interest income of individuals. No TDS on interest income is another relief for taxpayers. As per an order issued by the CBDT late […]

Coronavirus Impact: FM Sitharaman Relaxes IT, GST Deadline Till June 30, Waives Off ATM Charges

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. […]

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 […]

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 […]

Budget focus on strategic oil reserve, extends ISPRL tax break

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 […]

TDS Deduction For Big E-tailers, Relief For Small Traders: FM Sitharaman

New Delhi: Further tightening the noose on global e-commerce giants like Amazon and Walmart-owned Flipkart, the Indian government has announced mandatory TDS deduction on e-commerce transactions for the participants on the e-marketplaces. “In order to widen and deepen the tax net, it is proposed to provide that e-commerce operator shall deduct TDS on all payments […]

Taking Earnest Attempt To Decriminalise Companies Law: FM Sitharaman

Chennai: Finance Minister Nirmala Sitharaman has said the government’s earnest attempt was to decriminalise everything that has to do with Companies Law or related acts as part of initiatives towards a USD 5 trillion economy. She said the government does not want a law that could treat every business house with suspicion. Delivering the Nani […]

Centre Will Not Renege On GST Compensations: FM Sitharaman

Mumbai: Union Finance minister Nirmala Sitharaman on Monday assured states that the Centre will not “renege” on the promise of GST compensations. The delays to pass on the money are due to a slip in collections and the states have nothing to be embarrassed about, she said. The remarks come at a time when states […]

We Will Move Forward On Insurance PSUs Merger: FM Sitharaman

New Delhi: Finance Minister Nirmala Sitharaman has said the government would be moving forward on the merger of the three state-run general insurance companies as announced in the previous Budget. “This was a Budget announcement and I will be moving forward on that”, she said in a media interaction about a query on the status […]

Govt Looks To Push Infra Spending: FM Sitharaman

New Delhi: Finance Minister Nirmala Sitharaman on Friday said the ministries have cleared most of the dues of goods and services to suppliers, mostly MSMEs, and the remaining payments will be done in the next few days. The minister also said that ministries have been asked to provide detailed capital expenditure plans for the next […]

FM Sitharaman Says No Liquidity Issue Post 'Tonic-like' Meet With Banks

New Delhi: Describing her meeting with the bankers as a “tonic”, Finance Minister Nirmala Sitharaman said on Thursday that there is no liquidity related problems being faced by the private sector lenders and the non-banking financial companies (NBFCs). Addressing the media after meeting the bankers, NBFCs and mutual funds, Sitharaman said that no banks or […]