'Suddenly we had a new comprehension of affairs, which reminded that the luxury of politics floated atop a foundation by economics.' 'Along with this, finance ministers became crucial in molding the perception and reputation of Union Cabinets.' 'Governments couldn't afford a wrong person in that portfolio,' asserts Shyam G Menon.
Sitharaman took charge of the Finance Ministry on May 31, 2019, and has steered the economy through the COVID-19 pandemic and geopolitical turmoil, making India the fastest-growing major economy in the world.
Finance Minister Nirmala Sitharaman on Sunday makes history as she presents a record ninth consecutive Budget that is expected to unveil measures to sustain growth momentum, maintain fiscal discipline, and contain reforms that could buffer the economy from global trade frictions, including US tariffs.
Statues of freedom fighters demolished in Shahjahanpur district, Uttar Pradesh, have been reinstalled within 24 hours following the Chief Minister's orders, prompting calls for a thorough investigation into the incident.
Opposition MPs in the Rajya Sabha criticised the Modi government's economic policies, citing the LPG crisis, lack of energy security, and concerns over the Economic Stabilisation Fund.
Analysts have their doubts how much independence she has as finance minister. As Amit Mitra advises the chief minister, day-to-day work is done by the finance secretary and the chief secretary.
Atanu Chakraborty has resigned as chairman of HDFC Bank, citing ethical concerns, marking an unusual departure and prompting the appointment of an interim chairman.
The Indian government addressed opposition concerns regarding the West Asia crisis in an all-party meeting, outlining its strategy for ensuring the security of the Indian diaspora, fulfilling energy needs, and maintaining diplomatic relations with key partners. The government also dismissed Pakistan's reported mediation efforts.
Prime Minister Narendra Modi is promoting India as a global hub for digital infrastructure and artificial intelligence, highlighting the government's incentives for data center investments and inviting the world's data to reside in India.
Finance Minister Nirmala Sitharaman's biggest challenge will be to find a new growth driver, particularly against the backdrop of a global economy ravaged by heightened uncertainty and fragmentation, financial markets on a precipice, and global commodity prices on a continued uptrend.
This Budget positions India's taxation ideology as not merely a revenue source but as a strategic catalyst for growth, inclusion and long-term confidence.
Take the Rediff Biz Quiz and find out how much you know about India's finance ministers since Independence.
The Union Budget for 2026-27, presented by Finance Minister (FM) Nirmala Sitharaman on Sunday, which was a first, had an excellent domestic macro backdrop. According to the first advance estimates, gross domestic product (GDP) in constant prices is projected to grow 7.4 per cent in the current financial year, against 6.5 per cent in 2024-25.
Tarique Rahman is Bangladesh's first male prime minister in more than three decades, ending an era of female leadership that began in 1991.
The best course for the government at this time would be to tighten the seat belt a little more, without compromising on its investments in creating better infrastructure and giving a push to privatisation, points out A K Bhattacharya.
The Bill is likely to pave the way for amending two existing legislations -- the Atomic Energy Act 1962, and the Civil Liability for Nuclear Damage Act 2010.
A stern articulator with outspoken views and a dignified personality, Sitharaman now bears the responsibility of steering the economy which has witnessed sluggish growth in recent quarters.
Budget has already bombed at the box office and passing it without a revisit will be a mockery of the exercise though any modification may be short lived and perfunctory, observes V Ranganathan.
With less than six months left for this financial year and poor response from applicants, launching the scheme this year is unlikely.
In terms of MLA salaries, Odisha is followed by Telangana (about Rs 2.7 lakh), Maharashtra (Rs 2.6 lakh), Manipur (Rs 2.5 lakh), and Uttar Pradesh (Rs 2.4 lakh).
His assertion came after Trump claimed that his "friend" PM Modi has assured him that India would stop purchasing oil from Russia, a move he described as a big step toward increasing pressure on Moscow over its invasion of Ukraine.
This comes a day after President Droupadi Murmu gave her assent to the Viksit Bharat Guarantee for Rozgar and Ajeevika Mission (Gramin) (VB-G RAM G) Bill, which replaces the MGNREGA and has a provision for 125 days of wage employment for rural workers.
United States President Donald Trump on Wednesday said Prime Minister Narendra Modi had assured him that India would stop purchasing oil from Russia, describing it as "a big step" in efforts to increase global pressure on Moscow.
'I don't think it is right to remove him over one lapse. The focus should be on restoring operations, not on removing a key management personnel.'
Here are some facts related to the Budget presentation in independent India.
The target announced is 13.6 per cent higher than that set last year and 145.4 per cent higher than the revised target for 2013-14.
Lavrov, who addressed the UN General Assembly shortly before External Affairs Minister S Jaishankar's speech at the high-level General Debate, said India and Russia share a "particularly privileged strategic partnership".
Finance Minister Nirmala Sitharaman on February 1 will present a record eighth consecutive budget that is expected to contain measures to shore up weakening economic growth and ease the burden on the middle class struggling with high prices and stagnant wage growth while being fiscally prudent.
Sri Lanka's new Finance Minister Ali Sabry on Tuesday resigned, a day after President Gotabaya Rajapaksa appointed him after sacking his brother Basil Rajapaksa amidst the island nation's worst economic crisis.
Congress leader Sonia Gandhi criticizes the Modi government's stance on Palestine, calling it a 'profound silence' and an abdication of humanity and morality. She argues that India needs to demonstrate leadership on the issue and that the government's actions are driven by personal friendship rather than constitutional values or strategic interests.
The country's new home minister, Palaniappan Chidambaram, today said he prefers a Congressman as his successor in the finance ministry, setting off speculation about the implication of his statement.
'The question for the TMC is not whether it can hold its bastions, but whether it can expand effectively into regions where the BJP already possesses a good ecosystem.'
Duvvuri Subbarao recounts how his tensions with P Chidambaram and Pranab Mukherjee, then finance ministers, over monetary policy spilled over into other issues in the central bank in this excerpt from Who Moved My Interest Rate?, his memoir of his term as Reserve Bank of India governor.
Few people have left the kind of imprint on India's advertising canvas as Piyush Pandey. An observer who seemed to know what made the country tick, a man who could find humour in life's everyday struggles and spin magic from it, one who understood that to reach the masses you needed to communicate with them in their language and context -- he was all of this and more.
Speaking at the 'Samudra se Samruddhi' event, where he inaugurated and laid foundation stones of projects worth Rs 34,200 crore, Modi said all the problems of India have only one solution, and that is self-reliance.
Sri Lanka stays with you not just in memory, but gently reminds you what a society can achieve when heart and heritage guide the way.
Russian President Vladimir Putin announced his upcoming visit to India in December and expressed his intention to address the trade imbalance between the two countries, particularly concerning India's crude oil imports from Russia. He also lauded India's independent stance on international issues and highlighted the strong relationship between the two nations.
In his address, Jaishankar warned that those who condone nations that sponsor terror will find that it "comes back to bite them".
Notably, US President Donald Trump and his administration have continuously targeted India over its purchase of Russian crude oil. India, on the other hand, has always maintained that India's purchases are based on its domestic needs and economic security.
'It was like rigorously preparing for a solid, good exam...' 'I don't know what marks I will get, but I felt the rigorous preparation of an exam.' 'You may sweat, but I feel rejuvenated.'
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