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.
Rediff explains why the system, not the Budget, is the problem.
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.
'Karur could still impact Jana Nayagan's box-office success if Vijay and the TVK do not get their act together,' points out N Sathiya Moorthy.
The government on Tuesday announced withdrawal of the 2 per cent equalisation levy or digital tax on overseas e-commerce supplies.
Seven women, including two in the Cabinet role, have been inducted into the new council of ministers in the 18th Lok Sabha.
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.
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.
What some of our leaders were up to this weekend.
Tata Trusts chairman Noel Tata and two other powerful trustees considered close to him blocked the reappointment of late Ratan Tata's close associate and businessman Mehli Mistry as trustee, deepening the rift at the philanthropic arm that controls the holding company of Tata Group, people familiar with the matter said.
'That is going to have an impact on literally every one, whether you buy a toothpaste, a safety pin, a car, shoes or medicines or you go to a diagnostic centre.'
Shah briefed the prime minister on the attack and discussed the measures to be taken in its aftermath.
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.
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.
The government on Tuesday announced a new centrally-sponsored scheme for skilling 20 lakh youth over the next five years. The announcement was made by Finance Minister Nirmala Sitharaman in the Union Budget 2024-25. The minister said that model skilling loan scheme will be revised to facilitate loans up to Rs 7.5 lakh.
The minister was responding to questions on the firing along the Indo-Pak border despite the two sides agreeing for a truce.
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 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.
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.
'The voice which came wherever I travelled was that we are proud taxpayers. We are honest taxpayers. We want to continue to serve the country by being good taxpayers.' 'But what do you think about the kind of things you can do for us?'
Her speech was laced with Hindi, Urdu, Sanskrit and even Tamil verses.
After months of discord, the Tata Trusts appear to be moving towards reconciliation, with recent reappointments and open exchanges signalling a return to cooperative governance.
As it gains commercial viability, the food will likely become a powerful political currency.
Finance Minister Nirmala Sitharaman is set to create history when she presents her seventh straight Budget on Tuesday for the fiscal 2024-25, surpassing the record of former prime minister Morarji Desai. Sitharaman, who will turn 65 next month, was in 2019 appointed as India's first full-time woman finance minister when Prime Minister Narendra Modi won a decisive second term.
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.
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.
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.
The government on Tuesday announced that it will undertake a comprehensive review of the Income Tax Act to make it easy to read. Presenting the Union Budget for 2024-25, Finance Minister Nirmala Sitharaman also said the government will come out with SoP (standard operating procedure) for TDS defaults and simplify and rationalise compounding of such offences.
The Russians have termed Putin's visit to India, his first to this country since the outbreak of the Russia-Ukraine war, as 'Druzhba Dosti', which means 'friendship' in Russian and Hindi respectively.
Public sector banks (PSBs) have seen a sharp drop in household deposits from 70.6 per cent to 63 per cent in contrast with private banks, which witnessed a surge from 27.1 per cent to 34.1 per cent.
Presenting the Union Budget for 2020-21, Sitharaman said it is aimed at boosting income and purchasing power of people.
She would also have a separate meeting with the defence secretary every day.
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.
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.
"I have appointed a task force to speedily identify the projects so that money can be frontloaded," she said.
Government sources said amendments were being considered to the Atomic Energy Act to allow private sector participation and the Civil Liability for Nuclear Damage Act to limit the liability on suppliers of equipment to build atomic energy plants.
'Is the Agniveer scheme or their post-retirement re-employment in paramilitary forces or in the state governments the BJP's answer to the crying need on the job front?' 'Or, even Finance Minister Sitharaman's one-year internship scheme in the public and private sector, is it a permanent solution, either?', asks N Sathiya Moorthy.
Sushma Swaraj startled Modi when she said she would like to be defence minister. That set the PM thinking, says Rajeev Sharma.
The deportation of Indians from the United States, deaths in the Maha Kumbh stampede and the joint Parliamentary committee report on the Waqf bill were among the issues that led to heated exchanges and some disruptions in an otherwise smooth first part of the Budget session that ended on Thursday.
