Fresh plans of privatisation or divestment in central public sector enterprises and public sector banks might take a back seat this financial year because these may require a large consensus among coalition partners.
'Any finality in such matters requires political views. We will review it closer to the full Budget.'
Celebs and commoners cast their votes in the second phase of the Lok Sabha election on Friday, April 26, 2024
Finance Minister Nirmala Sitharaman is cutting short her official visit to the US and Peru and will depart for India at the earliest, following the terror attack in Jammu and Kashmir. Sitharaman arrived in the US on Sunday for a six-day visit, after which she was scheduled to travel to Peru for a five-day trip. The decision comes after 26 people were killed in a terror attack near Kashmir's Pahalgam town on Tuesday.
Union Finance Minister Nirmala Sitharaman will review the performance of regional rural banks (RRBs) after the Budget session of Parliament, according to two people familiar with the matter. The finance minister will review the performance of RRBs after August 13. The review will include discussions on enhancing the digital capabilities of RRBs, said a senior government official.
Re-entry into the list could have far-reaching consequences for Pakistan, including diminished foreign investment, increased borrowing costs, and tighter scrutiny from global financial institutions.
Government sources said amendments were being considered to the Atomic Energy Act to allow private sector participation and the Civil Liability for Nuclear Damage Act to limit the liability on suppliers of equipment to build atomic energy plants.
India will oppose the World Bank funding to Pakistan next month, arguing that Islamabad has used such funds in the past to procure arms and ammunitions. India previously lobbied against the IMF extending a USD 2.3 billion assistance to Pakistan earlier this month, presenting evidence of Pakistan's misuse of funds for military purposes. India feels that Pakistan has failed to act on terror emanating from its territory and has been diverting funds from multilateral agencies to buy arms and ammunition.
The Rs 1-trillion Research Development and Innovation (RDI) fund, which was announced in the July budget for FY25, of which Rs 20,000 crore has already been allocated, will be operationalised in the next two to three months, a top official said.
'Is the Agniveer scheme or their post-retirement re-employment in paramilitary forces or in the state governments the BJP's answer to the crying need on the job front?' 'Or, even Finance Minister Sitharaman's one-year internship scheme in the public and private sector, is it a permanent solution, either?', asks N Sathiya Moorthy.
'We are confident that over the next few years the government will strike a fine balance between populist measures and growth, and manage coalition partners well.'
Whether she will pare the fiscal deficit target of 5.1 per cent of GDP, using the record dividend received from the RBI, or expand flagship government programmes will be keenly watched.
The Indian government briefed an all-party meeting on Thursday on the success of "Operation Sindoor", the retaliatory airstrikes against Pakistan following the Pahalgam terror attack. Top government functionaries and opposition leaders met for a second time in a fortnight amid rising tensions between India and Pakistan. The meeting was chaired by Union Home Minister Rajnath Singh and attended by several prominent leaders from various political parties. The government highlighted the strikes on nine terror targets in Pakistan and Pakistan-occupied Kashmir, including the Jaish-e-Mohammad stronghold of Bahawalpur and Lashkar-e-Taiba's base Muridke.
Shah briefed the prime minister on the attack and discussed the measures to be taken in its aftermath.
Finance Minister Nirmala Sitharaman presented her eighth budget on Saturday.
On Friday, January 31, 2025, Finance Minister Nirmala Sitharaman presented the Economic Survey 2024-2025 in the Lok Sabha.
'The nominal GDP growth assumption for FY25 may be revised upwards on higher growth expectations.'
Markets regulator Sebi is actively working with the Ministry of Finance and other financial regulators on setting up a centralised KYC (Know Your Customer) system, chairman Tuhin Kanta Pandey has said. The Central KYC is an online database that maintains KYC records of customers in a centralised manner, aiming to streamline compliance across financial institutions.
After his recent stand-up act that caught everyone's attention, Kunal Kamra now faces trouble from a source he probably didn't expect.
Goods and Services Tax (GST) collection rose 12.6 per cent Y-o-Y to an all-time high of about Rs 2.37 lakh crore in April, which the government said shows resilience of the Indian economy and the effectiveness of cooperative federalism. The gross GST mop-up was Rs 2.10 lakh crore in April 2024 -- the second highest collection ever since GST was rolled out on July 1, 2017. The net mop-up was Rs 1.92 lakh crore.
Finance Minister Nirmala Sitharaman is set to create history when she presents her seventh straight Budget on Tuesday for the fiscal 2024-25, surpassing the record of former prime minister Morarji Desai. Sitharaman, who will turn 65 next month, was in 2019 appointed as India's first full-time woman finance minister when Prime Minister Narendra Modi won a decisive second term.
The Congress party in India has accused the government of "impropriety" in the sudden termination of KV Subramanian's position as India's executive director at the IMF, alleging it was linked to the Union Bank of India's purchase of two lakh copies of his book. The party also questioned the government's stance on Pakistan's request for a loan from the IMF.
This is the second Budget of the BJP-led NDA government in its third term in office.
As per established tradition, the finance minister met the President at the Rashtrapati Bhavan before heading to Parliament.
'Each state is unique, but when it comes to finance, the fundamentals cannot be different.'
Alloting more funds for MNREGA and PM-KISAN could wipe out the entire additional money that the Centre may have for FY25.
Defence Minister Rajnath Singh told an all-party meeting that at least 100 terrorists were killed in the Indian strikes on terror sites in Pakistan and Pakistan-occupied Kashmir under 'Operation Sindoor'. Leaders from various parties showed maturity and extended all support to the government and armed forces.
The Supreme Court on Tuesday barred Karnataka Police from taking any coercive steps against badminton player Lakshya Sen, his family members, and coach over allegations of forging birth certificates.
Bharatiya Janata Party on Thursday issued a three-line whip to all of its Lok Sabha MPs asking them to be present in the House for the passing of the Union Budget 2025-26.
Union Finance Minister Nirmala Sitharaman, along with her team of bureaucrats, delved into the fine print of the 2024-25 Budget documents in a press conference, detailing the government's road map on bringing down the debt-to-GDP ratio and bold tax measures.
The 63-year-old has been admitted in a private ward of the hospital.
Former King Gyanendra Shah was on Saturday issued a letter demanding fine by Kathmandu's civic body following the damage caused to public property and environment during the pro-monarchy protests in parts of the Nepalese capital a day before.
Finance Minister Nirmala Sitharaman on Saturday said the Union Budget 2025-26 continues efforts to accelerate growth and provide inclusive development.
Lok Sabha Speaker Om Birla on Friday constituted a 31-member Select Committee of the lower house to examine the Income Tax Bill. To be headed by Bharatiya Janata Party's Baijayant Panda, the panel is mandated to submit its report by the first day of the next session.
Finance Minister Nirmala Sitharaman on Friday proposed to double the limit for Tax Deduction at Source (TDS) on interest income for senior citizens to Rs 1 lakh, and also increase the threshold to Rs 6 lakh on rent from the current Rs 2.4 lakh.
To enable Indian banks and financial institutions to develop an aircraft-leasing ecosystem at GIFT City, the Ministry of Civil Aviation has sought support from the Ministry of Finance. It has also raised concern over slow progress in developing aircraft leasing in India.
Prime Minister Narendra Modi held a meeting with National Security Advisor Ajit Doval and External Affairs Minister S Jaishankar upon his arrival from Saudi Arabia to take stock of the situation following the terror attack in Pahalgam, Kashmir. The meeting also included Foreign Secretary Vikram Misri. The attack, which killed at least 26 people, including tourists from the UAE and Nepal, has sparked nationwide shock and outrage.
Bollywood celebrated Mother's Day with beautiful pictures of their mums on social media.
The government will launch a Rs 2-crore term loan for 5 lakh first-time women, SC and ST entrepreneurs, Finance Minister Nirmala Sitharaman said on Saturday.
She said I treated her like a bachchi. At another moment, she said I had gone to various people and 'bitched' about her. She also threatened to bring the entire matter to the PM's notice. A revealing excerpt from Subhash Chandra Garg's We Also Make Policy: An Insider's Account of How the Finance Ministry Functions.
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