Tag: Nirmala Sitharaman

As per the proposals made by the finance minister in the Union Budget for 2022-23, many commonly used items, including electronic items like mobile phones and chargers, are going to be cheaper. 

Union Finance Minister Nirmala Sitharaman tabled the economic survey, which said that India's economy is expected to grow at 8-8.5 per cent in the next fiscal.

"The ministry of finance maintains secrecy about the budget... before presenting his/her speech, the finance minister is bound to keep secrecy about the Budget provisions," an official said.

States like Gujarat, West Bengal, Delhi, Rajasthan and Tamil Nadu have said they are not in favour of a hike in Goods and Services Tax (GST) rate on textiles to 12 per cent, from 5 per cent, with effect from January 1, 2022.

GST, which subsumed indirect taxes like excise duty, service tax and VAT, was rolled out from July 1, 2017. The five year period for compensation ends in June 2022.

Minister of State for Finance Bhagwat Kishanrao Karad said banks do have "problems" in lending to police and politicians. Banks see track record before lending to these customers, he added.

In the ongoing winter session of Parliament, the Centre aims to table the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, through which it seeks a ban on all private cryptocurrencies

"It is a business which solely runs on the income generated by sale of tickets, which also gets sold only if the film appeals to the public enough to inspire them to pay money and buy tickets.

Armed with necessary macro and micro growth drivers, the stage is set for India's investment cycle to kickstart and catalyse its recovery towards becoming the fastest growing economy in the world.

The finance minister also discussed the preparations for the upcoming Climate Change Conference in Glasgow.

As part of her US visit, Sitharaman is also meeting heads of various corporations to explore various investment potential and make in India initiatives.

Sitharaman said India will attract investments and have the purchasing power to demand the best of things from whoever produces it.

Nirmala Sithararam elucidated the intent of the country to be more inclusive in development and growth, Prahlad Singh said after his meeting with the Finance Minister in Boston.

"We need to scale up banking. The need is for at least four-five more SBI sized banks," Sitharaman said.

The Union Finance Ministry released an amount of Rs 2,427 crore to 11 states for the urban local bodies on Friday