These new coins will be made available for public use shortly, said Sitharaman.
He was permanently absorbed into the ED cadre in 2014 and has headed some high-profile investigations into the 2G spectrum allocation case, the 2010 Commonwealth Games, the money laundering cases against former Union finance minister P Chidambaram and his son Karti Chidambaram, Andhra Pradesh chief minister Y S Jagan Mohan Reddy and former Jharkhand chief minister Madhu Koda, the Aircel Maxis and VVIP choppers case.
Party leader Rahul Gandhi dubbed the Union Budget as a 'zero-sum budget', saying it has nothing for the salaried, middle class and the poor.
Jaitley said that when cash is deposited in the banks, it loses anonymity and can be identified with its owner.
The UN Security Council is scheduled to vote on Friday evening on a draft resolution on Russia's military operation in Ukraine as well as the escalating situation in the eastern European country.
While India's GDP growth slowed to five-year low of 5.8% in Q4, China grew at 6.4%.
Referring to demonetisation of high value currency notes, Jaitley said it was well received as 'imandari ka utsav.'
There's a 13 per cent increase over last year, in an effort to put its flagging revenues back on track.
There are no regulations governing virtual currencies in India and the RBI has not given any licence to any entity/company to operate such currencies.
Take some time off to write a postcard to the finance minister, tell Mr Arun Jaitley your wishlist for Union Budget 2018.
He also reiterated India's strong support in the fight against terrorism with Sri Lanka, which saw the country's worst terror attack on Easter Sunday.
Heeding to demands made by several states, the GST Council on Friday put on hold a decision to hike the tax rate on textiles to 12 per cent and referred to a panel of state ministers to recommend rate by February, Union Finance Minister Nirmala Sitharaman said. The panel, the highest decision-making body for indirect taxes, met under emergency provisions after states made a request for deferring the tax rate hike on textiles, from the current 5 per cent, to be effective from January 1, 2022. Currently, the tax rate on manmade fibre (MMF) is 18 per cent, MMF yarn 12 per cent, while fabrics are taxed at 5 per cent.
On August 15 last year, Prime Minister Narendra Modi announced from the ramparts of the Red Fort that the Indian Railways would launch 75 Vande Bharat Express trains by August 2023. Later, in her 2022 Budget speech, Finance Minister Nirmala Sitharaman announced that 400 Vande Bharat trains will be manufactured in the next three years, which are expected to cost between Rs 40,000 crore and Rs 50,000 crore. Those upbeat announcements come after a series of cancelled tenders, vigilance actions against officials and interdepartmental rivalry that delayed the addition of these iconic trains developed entirely indigenously by the Integral Coach Factory (ICF) in Chennai.
The government's endeavour, she said, is to protect women in this country in collaboration with state governments.
Former RBI governor Raghuram Rajan, who faced a stinging attack from Finance Minister Nirmala Sitharaman for presiding over the "worst phase" of the Indian banking sector, on Thursday reminded her that two-third of his tenure as the head of the central bank was under the Bharatiya Janata Party government.
An Australian court on Thursday rejected the 2Day FM station's petition, paving the way for the country's media watchdog to conclude its probe into handling of a royal prank call by the Sydney-based radio station that led to the death of an Indian-origin nurse in the United Kingdom.
India Inc on Thursday pitched for continuation of reforms while ensuring tax and policy stability in the forthcoming Budget to prop up the economy hit hard by the COVID-19 pandemic. In the virtual pre-Budget consultation held with Finance Minister Nirmala Sitharaman, industry chambers said that government measures will help firmly entrench the nascent signs of recovery being currently seen in private investment. Capital expenditure by the government through enhanced infrastructure spending should in the meantime continue to support growth, CII president TV Narendran said.
RJ Malishka has a message for the BMC! Who's listening?
These houses will have amenities such as LPG, electricity and toilets, she said.
M&M was the top gainer in the Sensex pack, rallying around 6 per cent, followed by SBI, ITC, NTPC, Bharti Airtel and ONGC. On the other hand, Bajaj Finance, HDFC, Bajaj Finserv, Titan, Sun Pharma and Dr Reddy's were among the laggards. NSE Nifty inched up 1.40 points to its fresh closing record of 14,564.85.
He rejected suggestions that the Pak-Saudi statement was against India's push at UN.
Harrish M Bhatia, chief executive of 94.3 MY FM, the station under the Dainik Bhaskar group, tells Gaurav Laghate regional markets hold great potential.
Another major development is REITs coming closer to reality
'When you need to revive the economy, when you need to revive aggregate demand, you cut taxes.' 'But what's this government doing?' 'It's increasing taxes for the middle class and the vast majority of the poor on fuel, which has a ratchet effect on most other products.'
India has maintained that there can be no talks with Pakistan unless it stops supporting terrorists.
The NDA government will be following the footsteps of its predecessor, the UPA, which had introduced the concept of "loan mela" to boost credit by directing banks to lend to people through public meetings.
The FM said an announcement with regard to the additional steps will be made after consulting Prime Minister Narendra Modi.
The Rajya Sabha on Wednesday approved the biggest tax reform since Independence.
Mitra also said currency demonetisation has led to closure of small industries and left hundreds jobless across the country
The most impressive thing about the speaker is that you can raise the volume to a level adequate for a party without it crackling, says Khalid Anzar.
Speaking at a roadshow in Frankfurt on investment opportunities in India on Monday, the Minister said the economy was on the right path to achieve growth levels recorded during 2004-2008.
Israel's newly elected Prime Minister Naftali Bennett said on Monday that he was looking forward to working with his Indian counterpart Narendra Modi to further develop the 'unique and warm relations' between the two democracies.
Loans for Indian airlines have dried up as banks have become cautious to lend to the sector.
Shortage of ICU beds, oxygen, ventilators, vaccines, doctors, nurses and crematorium space in India has dominated headlines around the world in the past few weeks with Covid-19 cases surging beyond control and the government failing to deliver. Yes, election rallies, Kumbh Mela, blatant flouting of social distancing and mask protocols coupled with a messy vaccination process are said to be responsible for the health crisis of colossal proportions that India is facing today. But an analysis of Budget speeches made by finance ministers over 75 years also offers a glimpse of how low on the priority list healthcare has featured for the political class and policy-makers, which is a significant reason for the current situation.
This brings its tax treatment on par with the Prime Minister's National Relief Fund.
Chidambaram said he would count every additional rupee the government infuses into the economy and examine what the poor, hungry and devastated migrant workers get after walking hundreds of kilometres to their home states.
India is one of biggest producers and exporters of agri commodities.
Former finance minister P Chidambaram on Friday rejected Finance Minister Arun Jaitley's contention in Lok Sabha that UPA government left behind double digit inflation.
Indo-US bilateral trade will surge five times to $500 billion in the next few years on the back of growing cooperation between both the nations.
