The Rajya Sabha on Thursday approved a bill to raise the foreign investment limit in the insurance sector to 74 per cent, with Finance Minister Nirmala Sitharaman saying while control will go to foreign companies, the majority of directors and key management persons will be resident Indians who will be covered by law of the land.
Finance Minister Nirmala Sitharaman on Tuesday met IMF managing director Kristalina Georgieva and discussed a range of issues, including impact of geopolitical situation on global growth.
They have also called for giving cash to the poor, so that demand is generated in the economy.
Rajan said that while there were talks about Jan Dhan, it was difficult to target transfers to people through this tool. Jan Dhan, he said, does not really work as advertised.
In a recent awards event, industrialist Rahul Bajaj said that India Inc was afraid of criticising the Narendra Modi government, The comment drew flak from Finance Minister Nirmala Sitharam who said spreading one's own impression "can hurt national interest".
When it comes to running between the wickets -- which is exactly what an FM and a governor do -- Jadeja always defers to Dhoni's larger judgement of the situation and the needs of the team, observes T C A Srinivasa-Raghavan.
The talks took place over video call on Sunday. According to sources, talks were held for over two hours in a cordial and forward-looking manner.
PSB chiefs tried to argue that liquidity is in surplus in the system and the problem was related to lack of demand in the economy, instead of banks' reluctance to lend, but 'the FM said it is a perception issue that loan is not available, which we need to dispel,', reports Somesh Jha.
Drawing inspiration from the recent performance of the Indian cricket team in Australia under trying circumstances, Finance Minister Nirmala Sitharaman on Monday asserted that India is well-poised to truly be the land of promise and hope in the post-COVID-19 world.
Tamal Bandyopadhyay offers some unsolicited advice for a government wh,ich came to power, with brute majority and the nation's pragmatic chief money man.
'She violated NSE procedures and rules, corporate governance norms; Chitra acted maybe within her capacity as MD and CEO, but not in the right spirit.'
The talks took place on the sidelines of the G-20 foreign ministers' meeting in the Indonesian city of Bali.
"So you will not have anything better... democracy loving, capitalist respecting environment... in India," Sitharaman said at the event hosted by the Federation of Indian Chambers of Commerce and Industry in association with the US India Strategic and Partnership Forum.
She recited a Kashmiri verse, which was part of a poem by Sahitya Akademi award winner Pandit Dinanath Koul. She rendered the verse in both Kashmiri and Hindi. Besides, the minister quoted woman Tamil poet Avvaiyar, Tamil poet Thiruvalluvar, a verse from Raghuvamsa by Kalidasa, as well as late finance minister Arun Jaitley while talking about the Goods and Services Tax (GST).
The revised estimated expenditure for FY20 has been pegged at Rs 26.99 lakh crore and receipts at Rs 19.32 lakh crore, she said.
Accelerated development of highways will be taken up with 2,500 km access controlled highways and 9,000 km of economic corridor. In addition, there will be 2,000 km each of strategic highway projects and port connectivity projects, she said.
Union Finance Minister Nirmala Sitharaman on Saturday also said that Rs 3.6 lakh crore have been approved for Jal Jeevan Mission, which seeks to provide Functional Household Tap Connection to every rural household by 2024.
Sitharaman also announced Rs 10,000 crore fund to support 2 lakh micro food enterprises for promoting health and wellness, herbal, organic and nutritional products.
Finance Minister Nirmala Sitharaman on Tuesday highlighted "significant reforms" undertaken by the government including National Monetisation Pipeline (NMP) and National Infrastructure Pipeline (NIP) as she met institutional investors in Boston. Sitharaman arrived in the US on Monday for a week-long trip to attend the annual meet of the World Bank and IMF in Washingon as well as G20 Finance Ministers and Central Bank Governors (FMCBG) meeting. During the official visit to the US, Sitharaman is expected to meet US Treasury Secretary Janet Yellen.
'This plan is basically to allow some of the government assets for rent, and surely not for sale.' 'There is a difference between selling a house and renting out a house.'
For his first Budget in July 2014, Jaitley inherited a fiscal deficit target of 4.1 per cent of GDP. From 4.1 per cent, the fiscal deficit came down to 3.4 per cent by 2018-19, with two slippages from the budgeted targets, in 2017-18 and 2018-19, the former due to introduction of the GST, says Arup Roychoudhury.
Kaviya Maran is the co-owner of the Sunrisers Hyderabad team.
Pak FM Qureshi informed Parliament that he requested the OIC to either rescind the invitation or postpone the session in view of the prevailing situation, neither of which was done.
Titan was the top loser in the Sensex pack, shedding over 1 per cent, followed by TCS, HCL Tech, Reliance Industries, UltraTech Cement and Bharti Airtel. NSE Nifty settled 45.65 points down at 15,814.70.
The central bank is the money manager of the government, and not a guarantor of any debt.
Sitharaman said, public private partnership to be unleased to develop rail infrastructure.
In a tweet on Monday, Zarif said," Iran condemns the wave of organised violence against Indian muslims."
Here's a look at just some of the bigwigs who took the anti-Covid jab.
also made a case for the need to create a self-sufficiency fund for innovation, construction and manufacturing clusters to make use of the emerging opportunities in the wake of disruption in global supply chain.
External Affairs Minister S Jaishankar on Thursday conveyed to his Chinese counterpart Wang Yi the need for an early resolution of all outstanding issues along the Line of Actual Control in eastern Ladakh, and asserted that bilateral ties should be based on mutual respect, mutual sensitivity and mutual interest.
"India rejects irresponsible statement by Pakistan foreign minister with objective of whipping up war hysteria in the region," the MEA said.
Joshi said the Congress is 'led by an infiltrator' and is targeting Modi who hails from a humble family and is a popular leader.
Shah Mahmood Qureshi also claimed that Azhar is unwell to the extent that he cannot leave his house.
External Affairs Minister S Jaishankar held wide-ranging talks with his visiting Iranian counterpart Hossein Amir-Abdollahian on Wednesday against the backdrop of widespread anger in West Asia over controversial remarks on Prophet Mohammed made by two former Bharatiya Janata Party spokespersons.
While presenting the Union Budget 2021-22 in Parliament, the finance minister said poll-bound West Bengal will see highway projects worth Rs 25,000 crore. She also announced that highway projects worth Rs 65,000 crore will be undertaken in Kerala. She also announced an Rs 18,000-crore scheme to augment public transport in urban areas.
Finance Minister Nirmala Sitharman on Friday met her counterparts in Singapore and Canada and discussed various issues, including economy, health and opportunities for collaboration. Sitharaman met UK Chancellor of the Exchequer Rishi Sunak, Singapore Finance Minister Lawrence Wong and Canada's Deputy Prime Minister & Finance Minister Chrystia Freeland on the sidelines of the G-20 Joint Finance and Health Ministers' meeting. "Finance Minister Smt. @nsitharaman had an engaging discussion with @cafreeland Dy. Prime Minister & Finance Minister of Canada on the sidelines of #G20 Finance & Health Ministers Meeting in #Rome. The Ministers discussed various issues, including economic and health cooperation," a Finance Ministry tweet said.
Macroeconomic management is usually a lot more comfortable with lower fiscal deficits. The sooner we get there, the better for the economy, says former Chief Economic Adviser to the Government of India Shankar Acharya.
The meeting will review the current global and domestic economic situation and financial stability issues, including those concerning banking and NBFCs.
After the finance minister directed public sector banks to join the account aggregator (AA) ecosystem, 5-6 major ones, including State Bank of India (SBI) and Bank of Baroda are expected to go live by July-end. Sahmati, an industry alliance for the AA ecosystem, has been working with PSU banks to get them onboarded for quite some time now. So far, Union Bank of India and Punjab National Bank (PNB) have gone live on the AA ecosystem. While Union Bank has been live for a while, PNB went live earlier this month.
Sitharaman said Aadhaar card for NRIs with Indian passports will be issued after their arrival in India, without the mandatory 180 days' waiting period.
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