Google plans to invest $15 billion over the next five years in setting an artificial intelligence hub in Visakhapatnam, a senior official of the company said on Tuesday.
Sitharaman added that no Union finance minister can play with the Finance Commission's recommendations.
With Nirmala Sitharaman's Budget presentation lasting for about one hour 31 minutes on Tuesday, the finance minister's budget speech this year became the shortest ever since 2019.
If it was Andhra Pradesh last Budget, it's poll-bound Bihar that has now turned to Centre with a list of demands. How the NDA government is delivering on promises.
A prominent Indian Diaspora body, FIIDS, on Monday urged Finance Minister Nirmala Sitharaman to allow non-resident Indians and overseas citizens of India (OCI) card holders to invest in the Indian stock market. Such a move would boost the Indian economy further by attracting investment from the global Indian community, said the Foundation for India and Indian Diaspora Studies (FIIDS) USA. FIIDS is a US-based institute for US-India policy studies and awareness.
The Unified Pension Scheme (UPS) adoption rate has risen to over 4.35 per cent, with more than 100,000 people out of 2.3 million eligible individuals opting for it, Pension Fund Regulatory and Development Authority (PFRDA) chairman S Ramann said in an exclusive interview with Business Standard on Monday. He also said that six states had approached the PFRDA for help in adoption of the scheme.
Finance Minister Nirmala Sitharaman on Tuesday allayed apprehension that privatisation of state-owned banks would hurt financial inclusion and national interest. She said the bank nationalisation done in 1969 has not yielded the desired result as far as financial inclusion was concerned.
The removal of the angel tax is expected to be a boost for startups as it will help in promoting a more conducive environment for them.
With less than six months left for this financial year and poor response from applicants, launching the scheme this year is unlikely.
The government on Tuesday announced withdrawal of the 2 per cent equalisation levy or digital tax on overseas e-commerce supplies.
'The informal sector can grow at a 100 per cent rate -- we have to plan big.'
Sitharaman is presenting the full Budget for 2019-20. She is carrying the Budget documents in a red silk bag with national emblem.
Between August and September Finance Minister Nirmala Sitharaman toured the length and breadth of India meeting traders, experts and entrepreneurs to gauge the pulse of the nation, reports Ruchika Chitravanshi.
"The budget adopts following seven priorities -- inclusive development, reaching the last mile, infrastructure and investment, unleashing the potential, green growth, youth power and financial sector," she said.
Sitharaman said the notion that across the board in India, violence against Muslims is happening is a fallacy.
The time limit is proposed to be extended from the current two years to four years.
Finance Minister Nirmala Sitharaman on Tuesday termed misleading claims by opposition leaders that if any state is not named in the Budget speech, then it does not get any budgetary allocation. Replying to a Budget discussion in the Lok Sabha, Sitharaman asserted that no state was being denied money. She recalled that in the past Budgets by the UPA government also did not mention names of all states in their Budget speech.
The government on Sunday gave a strong push to upgradation and expansion of healthcare infrastructure, medical education and pharma sector with the Union Budget 2026-27 announcing a slew of steps, including those aimed at making India a global hub for allied healthcare professionals and biopharma manufacturing.
Sitharaman has been announcing the tranches of the Rs 20 lakh crore package announced by Prime Minister Narendra Modi.
Stock markets will remain open for trading on February 1, Saturday, when Finance Minister Nirmala Sitharaman presents the Union Budget, bourses BSE and NSE said on Monday. Stock markets are generally closed on Saturdays and Sundays, except for special circumstances.
'For those in for the long haul, this is a God-given opportunity.' 'Your market is falling despite strong fundamentals, and such a clear roadmap has been announced.'
For promoting women-led development, Finance Minister Nirmala Sitharaman on Tuesday said the Budget carries an allocation of more than Rs 3 lakh crore for schemes benefitting women and girls.
'When markets go into a budget with excessive optimism, the risk of disappointment is higher.'
'Any finality in such matters requires political views. We will review it closer to the full Budget.'
So how do you rate the Modi government's 10th budget which comes ahead of the crucial five-state election?
After his recent stand-up act that caught everyone's attention, Kunal Kamra now faces trouble from a source he probably didn't expect.
Sitharaman has been announcing the tranches of the Rs 20 lakh crore package announced by Prime Minister Narendra Modi.
Farmer representatives and agricultural stakeholders urged the government to provide cheaper long-term credit, implement lower taxes, and double the PM-KISAN income support during a comprehensive pre-budget consultation with Finance Minister Nirmala Sitharaman on Saturday. The two-hour meeting saw a detailed discussion of proposals, aimed at addressing multiple challenges in the agricultural sector, with key demands focusing on financial relief, market reforms, and strategic investments.
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.
The meeting was attended by Home Minister Amit Shah, Finance Minister Nirmala Sitharaman and Urban Affairs and Petroleum Minister Hardeep Singh Puri.
India, the world's fourth largest economy, is set to maintain the 'goldilocks' phase with tailwinds of good growth, low inflation and robust banking performance as well as reform initiatives poised to sustain the economic pace witnessed during 2025.
While presenting the Budget for 2022-23, the finance minister also said the strategic transfer of Air India ownership has been completed and strategic buyer for (Neelachal Ispat Nigam Ltd) NINL has been selected. National Asset Reconstruction Co Ltd (NARCL) has commenced its activity, Sitharaman added.
Finance Minister Nirmala Sitharaman on Thursday said the government is close to reaching saturation in implementing social sector schemes designed to provide basic necessities to the poor. Addressing the students of Hindu College on the occasion of its 125th anniversary, she said the time has come for India to become economically 'aatmanirbhar' (self-reliant) and march forward to becoming a developed nation by 2047. Regretting that 60 years since Independence passed without any sense of urgency, Sitharaman said, "We have laid the material foundation for a Viksit Bharat" and empowering people by providing basic necessities to all.
Rajya Sabha witnessed heated exchanges between the treasury and opposition benches after Congress leader Mallikarjun Kharge made remarks on the manner in which political parties select women candidates from weaker sections and raised the issue of 'delayed' GST payments to non-Bharatiya Janata Party ruled states.
India will become the third largest economy by 2027-28, with a GDP of over $5 trillion, Finance Minister Nirmala Sitharaman said on Wednesday. Even going by conservative estimates, the size of the Indian economy will be $30 trillion by 2047, she noted. "It is possible that we will be the third largest economy by 2027-28, and our GDP will cross $5 trillion by that time. By 2047, it is a conservative estimate that we will reach at least $30 trillion in terms of economy," Sitharaman said at the Vibrant Gujarat summit.
'This government has always been fiscally conservative. It never resorted to fiscal profligacy.'
Advertising legend Piyush Pandey has passed away. He was 70. The news of Piyush Pandey's demise was shared by columnist Suhel Seth on X on Friday morning.
The FM flew to Chennai on Sunday to inaugurate Nandavanam, the central revenue quarters of the Central Board of Direct Taxes and Central Board of Indirect Taxes and Customs at Anna Nagar in Chennai.
The President will address both the Houses of Parliament assembled together in the Lok Sabha chamber on Friday and Finance Minister Nirmala Sitharaman will present the General Budget on Saturday.
After unveiling a range of relief measures - primarily targeting the MSME and business segment - on Wednesday, Sitharaman is expected to, in her second tranche of financial stimulus, focus on the poor and farm sector.
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