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 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.
Finance Minister Nirmala Sitharaman on Saturday unveiled 'transformative' tax reforms that ranged from a simpler income tax law to higher TCS threshold for remittances and income tax benefits for middle class.
Finance Minister Nirmala Sitharaman on Wednesday said she has requested banks to work with all state governments to push the 'one district, one product' agenda. Banks have also been requested to have interaction with export promotion agencies, chambers of commerce and industry to understand and address the requirement of exporters on a timely manner, Sitharaman said while addressing the media in Mumbai on Wednesday.
Amid surging coronavirus cases in India, Finance Minister Nirmala Sitharaman on Tuesday made it clear that the government would not go for lockdowns in a big way and only resort to local containment. In a virtual meeting with World Bank Group president David Malpass, Sitharaman appreciated the initiatives of the World Bank to increase the lending space for India to enhance availability of finance for development.
'When markets go into a budget with excessive optimism, the risk of disappointment is higher.'
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.
'Each state is unique, but when it comes to finance, the fundamentals cannot be different.'
The Budget for 2024-25 should focus on employment generation, besides promoting the manufacturing sector, economists attending the pre-Budget consultation meeting with Finance Minister Nirmala Sitharaman here on Wednesday said. The meeting was attended by National Co-convenor Swadeshi Jagran Manch Ashwani Mahajan, Director and Chief Executive of the Institute for Studies in Industrial Development (ISID) Nagesh Kumar, and TCA Anant among others.
Union Finance Minister Nirmala Sitharaman on Wednesday said she declined the offer of the Bharatiya Janata Party to contest elections pleading that she did not have the 'kind of funds' required for fighting the Lok Sabha polls.
Finance Minister Nirmala Sitharaman on Saturday reviewed the performance of public sector banks (PSBs) on various financial health parameters and their resilience in the wake of the current global financial scenario emanating from the failure of some international banks in the US and Europe.
Union Minister Nirmala Sitharaman was on Monday critical of RBI Governor Raghuram Rajan's description of Indian economy as the "one-eyed king in the land of the blind", saying better words should have been used.
Mehli Mistry is backed by three other trustees -- Pramit Jhaveri, Darius Khambata and Jehangir HC Jehangir -- against Tata Trusts Chairman Noel Tata and the two vice-chairmen, Venu Srinivasan and Vijay Singh.
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.
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.
Finance Minister Nirmala Sitharaman on Tuesday sought to know from industry what is holding it back from investing in manufacturing, even though foreign investors show confidence in India. Drawing parallel between India Inc and mythological character 'Hanuman', Sitharaman said the government is willing to engage with the industry and take policy action. "This is the time for India... We cannot miss the bus," she added.
These are the highlights of the Union Budget 2025-26 presented by Finance Minister Nirmala Sitharaman in Parliament on Saturday.
Congress President and Leader of the Opposition in Rajya Sabha Mallikarjun Kharge on Wednesday questioned Union Finance Minister Nirmala Sitharaman over the Union Budget and claimed that the plates of all states except Bihar and Andhra Pradesh were empty in the budget allocation.
The minister was responding to questions on the firing along the Indo-Pak border despite the two sides agreeing for a truce.
What some of our leaders were up to this weekend.
'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.'
Sitharaman also listed out various welfare schemes like affordable housing, direct benefit transfer and Ayushman Bharat.
The exchange came at a time when the finance minister was listing out the various measures adopted by the central government to stem rising onion prices in the country.
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.
Her speech was laced with Hindi, Urdu, Sanskrit and even Tamil verses.
Finance Minister Nirmala Sitharaman on Monday said the rules that will lead to scrapping of the retrospective tax demands made on companies such as Cairn Energy Plc and Vodafone Plc will be framed soon. Parliament earlier this month passed a bill to scrap all tax demands made using the 2012 retrospective tax legislations. The bill provides for government refunding the retro tax to companies provided all legal challenges are withdrawn.
BJP leader Sudhir Mungantiwar said the Mahayuti partners will meet Governor C P Radhakrishnan to stake a claim to form a government in the state.
At the press interaction, Sitharaman said secretaries from the department of financial services and economic affairs will be meeting a deputy governor of RBI soon to look into the "shortcomings" of the functioning of multi-state cooperative banks and see if any amendments can be made to the laws.
Seven women, including two in the Cabinet role, have been inducted into the new council of ministers in the 18th Lok Sabha.
The government on Tuesday announced withdrawal of the 2 per cent equalisation levy or digital tax on overseas e-commerce supplies.
The GST Council on Wednesday approved a two-tier rate structure of 5 and 18 per cent, which will be implemented from September 22.
'The informal sector can grow at a 100 per cent rate -- we have to plan big.'
She would also have a separate meeting with the defence secretary every day.
The Union Finance Minister Nirmala Sitharaman undertook a day long review of the Customs activities at Nhava Sheva in Raigad district off the Mumbai coast on November 25.
Presenting the Union Budget for 2020-21, Sitharaman said it is aimed at boosting income and purchasing power of people.
Finance Minister Nirmala Sitharaman on Tuesday nudged the fintech industry to break the distance barrier and have more engagements with the government and its agencies to enhance trust. Sitharaman was replying to a question by Kris Gopalakrishnan, chairman, Global Fintech Fest (GFF) 2022 advisory board, who wanted to know how to ensure trust among industry, regulators, and the government. "I don't want to sound cliche, but distance brings distrust. "So, cut the distance down, have greater engagement with the government," the minister said.
Finance Minister Nirmala Sitharaman on Thursday announced a Rs 11.11 lakh crore spending on infrastructure and vowed to continue reforms as she resisted resorting to populist measures in Modi government's last Budget before general elections, instead choosing to stay on the path of cutting deficit while bolstering measures for focus groups.
Union Finance Minister Nirmala Sitharaman on Friday said political parties that come to power on pre-poll promises of freebies should pay for those through budgetary provisions. Citing the example of free electricity being promised in many states, the finance minister said the burden for the freebies should not be thrust upon the power discoms or gencos. "If a promise has been made to the people at the time of the election, you are looking at a quid pro quo. "You should be, as a responsible party, assume after you come to power, make a provision in the budget for it," Sitharaman said, speaking at the FE Best Bank Awards event.
Finance Minister Nirmala Sitharaman on Tuesday announced nine priorities in the Union Budget 2024-25 for generating ample opportunities in the economy. The nine priorities include productivity, jobs, social justice, urban development, energy security, infrastructure, innovation and reforms.
