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Global Fintech Fest 2023 Concludes With a Footfall of 65K From Over 100 Countries, Investment Conversations of $ 2Bn Emerging as the world's largest thought leadership platform the Global Fintech Fest 2023 (GFF 2023) concluded here on Thursday, September 7, with a promise to return in the 5th edition October 8 – 10, 2024, with an even larger agenda. The three-day conference brought together on one platform policymakers, regulators, bankers, industry captains, academicians and professionals of the fintech landscape from all over the world. Not only insightful speaking sessions, but GFF 2023...
Global Fintech Fest 2023 Concludes With a Footfall of 65K From Over 100 Countries, Investment Conversations of $ 2Bn
Global Fintech Fest 2023 Concludes With a Footfall of 65K From Over 100 Countries, Investment Conversations of $ 2Bn
Source: PR Agency
8/09/2023 2:25:18 PM
FM Nirmala Sitharaman urges Fintechs to safe-guard against cyber, crypto threats Acknowledging the role of fintechs for driving more inclusions and influencing India’s financial ecosystem, Union Finance Minister Nirmala Sitharaman urged them to beware and safeguard themselves against conventional and modern threats in a multipolar world. Inaugurating the three-day Global Fintech Fest (GFF 2023) here, the FM said that today fintech is a robust and dynamic financial inclusion tool, and in lending they hold a 36 percent share of new-to-credit customers versus 22 per...
FM Nirmala Sitharaman urges Fintechs to safe-guard against cyber, crypto threats
FM Nirmala Sitharaman urges Fintechs to safe-guard against cyber, crypto threats
Source: IANS
6/09/2023 5:07:08 PM
FM Nirmala Sitharaman asks banks, financial institutions to ensure customers nominate heirs Union Finance Minister Nirmala Sitharaman has asked banks and financial institutions to ensure that their customers nominate heirs, which can help reduce the quantum of unclaimed money.  She said ‘I want banking system, the financial ecosystem (including) the mutual funds, stock markets... everybody to keep in mind that when someone deals with his (customer's) money, the organisations will have to think about the future and ensure that they (customers) nominate their heir, g...
FM Nirmala Sitharaman asks banks, financial institutions to ensure customers nominate heirs
FM Nirmala Sitharaman asks banks, financial institutions to ensure customers nominate heirs
Source: Accord Fintech
6/09/2023 11:26:43 AM
ONDC CEO T. Koshy Underlines the Importance of Trust and Governance Mechanism in Digital Commerce Mr. T Koshy, CEO, Open Network for Digital Commerce (ONDC), spoke about ONDC’s role in governance and trust building in the digital commerce ecosystem in a trialogue with Ms. Noopur Chaturvedi, CEO, NPCI Bharat BillPay Limited and Mr. Suresh Sethi, MD and CEO, Protean eGov Technologies at the Global Fintech Fest 2023 (GFF 2023) today. The discussion centred on the potential of digital commerce in India and the opportunities and challenges it posed for economic growth. On building a t...
ONDC CEO T. Koshy Underlines the Importance of Trust and Governance Mechanism in Digital Commerce
ONDC CEO T. Koshy Underlines the Importance of Trust and Governance Mechanism in Digital Commerce
Source: PR Agency
5/09/2023 6:06:46 PM
GFF 2023 Inaugural Address : Fintechs are Surpassing Conventional Banks in Servicing New-to-Credit Customers: FM Nirmala Sitharaman “Fintechs in India are driving more inclusion and influencing India’s financial ecosystem. Today, fintech has become a robust and dynamic financial inclusion tool. According to a 2022 BCG Matrix Report, in lending, which is one of the core businesses of the banks, fintechs had 36% share of new-to-credit customers versus 22% share of brick-and-mortar banks. Fintechs are reaching out far more even in lending, an area which is a conventional bank function.” said Smt. Nirma...
GFF 2023 Inaugural Address : Fintechs are Surpassing Conventional Banks in Servicing New-to-Credit Customers: FM Nirmala Sitharaman
GFF 2023 Inaugural Address : Fintechs are Surpassing Conventional Banks in Servicing New-to-Credit Customers: FM Nirmala Sitharaman
Source: PR Agency
5/09/2023 3:51:28 PM
Primary focus of G20 is exchange of ideas on interoperability of fast payment systems, says FM Finance Minister Nirmala Sitharaman on Tuesday said that the primary focus for G20 is prioritising the exchange of information regarding national experiences and international efforts related to the interoperability of fast payment systems. This is aimed at improving cross-border payments, she said during her address at the Global Fintech Fest 2023 in Mumbai. "We’re talking about responsible financial ecosystem today when globalisation is being questioned. Globalisation has h...
Primary focus of G20 is exchange of ideas on interoperability of fast payment systems, says FM
Primary focus of G20 is exchange of ideas on interoperability of fast payment systems, says FM
Source: IANS
5/09/2023 1:42:39 PM
G20 chair India says talks underway for global framework on crypto rules Discussions are underway on a global framework to regulate crypto assets, India's finance minister said on Tuesday, adding that cryptocurrencies could not be regulated efficiently without the co-operation of all countries. "India's (G20) presidency has put on the table key issues related to regulating or understanding that there should be a framework for handling issues related to crypto assets," Nirmala Sitharaman said at an event in the financial capital of Mumbai. &...
G20 chair India says talks underway for global framework on crypto rules
G20 chair India says talks underway for global framework on crypto rules
Source: Reuters
5/09/2023 11:22:37 AM
Government launches invoice incentive scheme to improve tax compliance Government on Friday launched the "Mera Bill Mera Adhikaar" invoice incentive scheme, under which consumers will be encouraged to demand a GST invoice to improve tax compliance. "After being introduced on 1st July 2017, Goods and Services Tax #GST has become a gamechanger in India’s indirect tax system. As part of the overall scheme of things in #GST, #Mera_Bill_Mera_Adhikaar Invoice Incentive Scheme has been launched from TODAY to encourage the customers to ...
Government launches invoice incentive scheme to improve tax compliance
Government launches invoice incentive scheme to improve tax compliance
Source: IANS
1/09/2023 1:54:33 PM
Banks should map RRBs with MSME clusters: Nirmala Sitharaman Emphasizing digital capability upgradation of Regional Rural Banks (RRBs) by November 1, 2023, Union Finance Minister Nirmala Sitharaman has said that banks should map RRBs with MSME clusters and put greater thrust on increasing network of rural branches in cluster areas identified by the Ministry of Micro, Small and Medium Enterprises. In a review meeting of Regional Rural Banks of Northern Region, Finance Minister also urged the RRBs to undertake removal of duplication of Pradhan Mantri ...
Banks should map RRBs with MSME clusters: Nirmala Sitharaman
Banks should map RRBs with MSME clusters: Nirmala Sitharaman
Source: Accord Fintech
31/08/2023 2:57:37 PM
Sitharaman directs rural banks to remove duplication of Jan Dhan accounts   Finance Minister Nirmala Sitharaman on Wednesday directed regional rural banks (RRBs) to remove duplication of Jan Dhan accounts and facilitate storage facility for apple growers particularly in Jammu and Kashmir and Himachal Pradesh.  She said this during a review meeting of RRBs, where she emphasised on digital capability upgradation of RRBs and instructed the chairman of Punjab National Bank (PNB) to ensure that all RRBs under its ambit acquire digital onboarding capabili...
Sitharaman directs rural banks to remove duplication of Jan Dhan accounts
Sitharaman directs rural banks to remove duplication of Jan Dhan accounts
Source: IANS
31/08/2023 9:46:58 AM
India`s inflation to keep steady, growth on track -Finance Minister Indian inflation will remain steady in coming months, despite short-term rises in the prices of certain food items, Finance Minister Nirmala Sitharaman told the Economic Times newspaper in an interview. Food price inflation rose to 11.5% in July, its highest in more than 3-1/2 years, while India is set to receive its sparsest monsoon rains in eight years, adding to Prime Minister Narendra Modi's woes in an election year. But economic growth was likely to be robust at least until the...
India`s inflation to keep steady, growth on track -Finance Minister
India`s inflation to keep steady, growth on track -Finance Minister
Source: Reuters
30/08/2023 10:47:37 AM
Jan Dhan scheme has revolutionised financial inclusion, says FM Nirmala Sitharaman Finance Minister Nirmala Sitharaman on Monday said that the Pradhan Mantri Jan Dhan Yojana (PMJDY) has revolutionised financial inclusion. Speaking on the occasion of completion of nine years of the scheme, she said, “The nine years of PMJDY-led interventions and digital transformation have revolutionised financial inclusion in India. It is heartening to note that more than 50 crore people have been brought into the formal banking system through the opening of Jan Dhan Accounts."...
Jan Dhan scheme has revolutionised financial inclusion, says FM Nirmala Sitharaman
Jan Dhan scheme has revolutionised financial inclusion, says FM Nirmala Sitharaman
Source: IANS
28/08/2023 11:21:57 AM
Nirmala Sitharaman meets European Commission VP, UK Trade Secy Union Finance Minister Nirmala Sitharaman on Saturday met visiting European Commission Executive vice president Valdis Dombrovskis and UK Trade Secretary Kemi Badenoch during separate meetings here. During the meeting Dombrovskis, the two leaders discussed bilateral economic and financial issues of mutual interests. In their interactions, Sitharaman and Dombrovskis exchanged views on ongoing consultations for India-EU investment protection agreement and India-EU free trade agreement. ...
Nirmala Sitharaman meets European Commission VP, UK Trade Secy
Nirmala Sitharaman meets European Commission VP, UK Trade Secy
Source: IANS
26/08/2023 3:38:25 PM
India-UK FTA likely to be announced soon, says Nirmala Sitharaman Finance Minister Nirmala Sitharaman on Friday said that the India-UK Free Trade Agreement (FTA) is likely to be announced soon. Addressing the B20 summit, the Finance Minister said that India is continuously in touch with various nations and even the European FTA (EFTA) is in the pipeline. EFTA includes Liechtenstein, Norway, Iceland, and Switzerland. "We need to quickly diversify our supply chains. Well-functioning international markets with resilient and efficient supply chain...
India-UK FTA likely to be announced soon, says Nirmala Sitharaman
India-UK FTA likely to be announced soon, says Nirmala Sitharaman
Source: IANS
26/08/2023 9:21:58 AM
Taming rising prices a priority for India, finance minister says India's finance minister on Friday said taming inflation was a priority, and that hiking interest rates was not the only tool available. "Obsession to use interest rates as the only tool to deal with inflation and not manage the supply side factors will not give a complete solution," Nirmala Sitharaman said. Annual retail inflation in July rose to its highest in 15 months as vegetable and cereals prices skyrocketed, beating all market expectations and putting pressure on t...
Taming rising prices a priority for India, finance minister says
Taming rising prices a priority for India, finance minister says
Source: Reuters
25/08/2023 4:41:43 PM
Sitharaman calls for consistency in reform policy Union Finance Minister Nirmala Sitharaman on Tuesday said that effectiveness and efficiency are long-term phenomenon and consistency in reform policy, with a focus on both, personal and systemic efficiencies, the need of the hour. She made these observations during her concluding remarks on the third and final day of the three-day long Chintan Shivir of finance and corporate affairs ministries in Gujarat. Referring to phenomenon of information overload as counter-productive to effective...
Sitharaman calls for consistency in reform policy
Sitharaman calls for consistency in reform policy
Source: IANS
22/08/2023 3:25:52 PM
Nirmala Sitharaman undertakes review of Finance Ministry in Chintan Shivir  Union Finance Minister Nirmala Sitharaman took a review meeting of her Ministry in Gujarat. The meeting on Sunday, which was attended by officials from the Corporate Affairs Department, Income Tax and Ministers of State for Finance Bhagwat Karad and Pankaj Chaudhary, focussed on the role to be played by the Fnance Ministry in the next 24 years leading to 2047. "A free and frank discussion was held with 100+ senior officers of @FinMinIndia and @MCA21India on how to re-orient t...
Nirmala Sitharaman undertakes review of Finance Ministry in Chintan Shivir
Nirmala Sitharaman undertakes review of Finance Ministry in Chintan Shivir
Source: Accord Fintech
21/08/2023 12:44:39 PM
Nirmala Sitharaman to attend G20 finance & health ministerial meeting in Gandhinagar Finance Minister Nirmala Sitharaman will visit Gandhinagar on Saturday to attend the joint finance and health ministerial G20 meeting. It will also be attended by Health Minister Mansukh Mandaviya.  Sitharaman will also visit IFSC Gift City in Gandhinagar on Saturday and review its functioning.  She will also chair a three-day Chintan Shivir of the finance ministry, that is being organised between August 20-22. This event will take place at the Tent City in Kevadia, renowne...
Nirmala Sitharaman to attend G20 finance & health ministerial meeting in Gandhinagar
Nirmala Sitharaman to attend G20 finance & health ministerial meeting in Gandhinagar
Source: IANS
19/08/2023 8:45:38 AM
Sitharaman meets JBIC governor, seeks greater investments for India Finance Minister Nirmala Sitharaman on Wednesday met governor of Japan Bank for International Cooperation (JBIC) Hayashi Nobumitsu, where she discussed ways with the institution to bring in more investments in India. "FM Nirmala Sitharaman met Hayashi Nobumitsu, Governor, Japan Bank for International Cooperation (JBIC), in New Delhi, today, to exchange views on JBIC's recent activities in India contributing towards Japan’s investment target of five trillion yen over next fiv...
Sitharaman meets JBIC governor, seeks greater investments for India
Sitharaman meets JBIC governor, seeks greater investments for India
Source: IANS
17/08/2023 9:18:03 AM
`G20 nations praise India`s digital public goods infrastructure`: Nirmala Sitharaman Finance Minister Nirmala Sitharaman on Monday said that G20 nations look up to India and praise the achievements in its digital public goods infrastructure.  "Today, when I address the G20 nations, we are proud to highlight that all of them admire India for its prolific use of technology and its leadership in utilising digital public goods. A significant portion of our Indian youth are making remarkable contributions in these areas," she said in a video address.  The...
`G20 nations praise India`s digital public goods infrastructure`: Nirmala Sitharaman
`G20 nations praise India`s digital public goods infrastructure`: Nirmala Sitharaman
Source: IANS
15/08/2023 9:33:13 AM
28% tax on online gaming, casinos: Centre to seek introduction, passage of bill to amend GST Act The central government on Friday will seek the introduction and passage of the Central Goods and Services Tax (Amendment) Bill, 2023 and Integrated Goods and Services Tax (Amendment) Bill, 2023 in the Lok Sabha. The union cabinet earlier this week had cleared the two bills. The amendment in the Central Goods and Services Tax Act will allow introduction of a 28 per cent goods and services tax rate on horse racing, online gaming and casinos. Similarly, states too will have to amend the...
28% tax on online gaming, casinos: Centre to seek introduction, passage of bill to amend GST Act
28% tax on online gaming, casinos: Centre to seek introduction, passage of bill to amend GST Act
Source: IANS
11/08/2023 9:59:14 AM
India starts importing tomatoes from Nepal amid price spike  India has started importing tomatoes from Nepal, India's finance minister said on Thursday amid a record high spike in prices in the country. The first lot of imports are likely to reach by Friday in Varanasi, Lucknow and Kanpur cities in northern India, Finance Minister Nirmala Sitharaman told the parliament. Tomato prices have surged more than 1,400% at the wholesale market to a record 140 rupees ($1.69) per kg in the past three months, with farmers citing reasons including ...
India starts importing tomatoes from Nepal amid price spike
India starts importing tomatoes from Nepal amid price spike
Source: Reuters
10/08/2023 1:44:21 PM
28% GST on casinos, online gaming, racing to increase revenue collection: Nirmal Sitharaman Finance minister Nirmala Sitharaman has said the 28 per cent GST on full face value of supplies in casinos, race courses and online gaming will result in higher revenues. The online gaming segment grew by 28 per cent in 2021 to reach $1.9 billion, as per NITI Aayog estimates referred in the Draft National Policy for Growth of Animation, Visual Effects, Gaming, Comic & Extended Reality sector in India prepared by the Information and Broadcasting Ministry. Sitharaman said casinos are cur...
28% GST on casinos, online gaming, racing to increase revenue collection: Nirmal Sitharaman
28% GST on casinos, online gaming, racing to increase revenue collection: Nirmal Sitharaman
Source: Accord Fintech
9/08/2023 10:39:25 AM
Decision to impose 28% tax on online games to be implemented from October 1: FM Nirmala Sitharaman Finance minister Nirmala Sitharaman has said that the decision to impose a 28 per cent tax on the full face value of bets placed on online games will be implemented from October 1, 2023 even though there was demand for a review from states like Delhi and Goa. The GST Council -- the highest decision making body of the new indirect tax regime that comprises Union finance minister and representatives of all states -- discussed the language of amendments that will be needed to enabling taxing onl...
Decision to impose 28% tax on online games to be implemented from October 1: FM Nirmala Sitharaman
Decision to impose 28% tax on online games to be implemented from October 1: FM Nirmala Sitharaman
Source: Accord Fintech
3/08/2023 1:01:41 PM
Government mobilizes gross amount of Rs 5.77 lakh crore by issuing dated securities till July 31: Finance Minister Finance Minister Nirmala Sitharaman has said that the government has mobilized a gross amount of Rs 5.77 lakh crore by issuing dated securities in the current financial year up to July 31, 2023. It has raised a net amount of Rs 4.18 lakh crore through the instrument in the same period. Government borrowing is done through various sources, including dated securities, treasury bills, external loans and state provident funds. The minister said the central government has planned to raise net d...
Government mobilizes gross amount of Rs 5.77 lakh crore by issuing dated securities till July 31: Finance Minister
Government mobilizes gross amount of Rs 5.77 lakh crore by issuing dated securities till July 31: Finance Minister
Source: Accord Fintech
2/08/2023 11:48:22 AM
GST council to take final call on 28% levy on online gaming, casinos & horse racing today The GST council will on Wednesday take a final call on levying 28 per cent GST on online gaming, casinos, and horse racing, amid requests from the gaming industry to revoke the decision, claiming that it will hurt the nascent sector's growth. The meeting of the GST council, which is headed by Finance Minister Nirmala Sitharaman, will be held virtually. On July 11, the GST council decided that there will be a 28 per cent GST levy on full value of gaming, horse racing and casinos. ...
GST council to take final call on 28% levy on online gaming, casinos & horse racing today
GST council to take final call on 28% levy on online gaming, casinos & horse racing today
Source: IANS
2/08/2023 10:58:27 AM
Domestic companies can now go in for direct listing on foreign exchanges and IFSC: FM Nirmala Sitharaman Finance Minister Nirmala Sitharaman has said that domestic companies can now go in for direct listing on foreign exchanges and the International Financial Services Centre (IFSC) in Ahmedabad. The provisions for direct overseas listing were approved by the government, as part of the Covid relief package announced in May 2020, but the rules in this regard are yet to be notified. The direct overseas listing will allow Indian companies to access foreign funds on various exchanges overseas. The...
Domestic companies can now go in for direct listing on foreign exchanges and IFSC: FM Nirmala Sitharaman
Domestic companies can now go in for direct listing on foreign exchanges and IFSC: FM Nirmala Sitharaman
Source: Accord Fintech
31/07/2023 11:54:57 AM
India lets firms list on Narendra Modi's flagship finance hub to draw foreign capital India has allowed its firms to list on exchanges registered in a new financial hub in the western state of Gujarat, Finance Minister Nirmala Sitharaman said on Friday, to give companies access to easier and cheaper foreign capital. Listed and unlisted companies can list their shares in the International Financial Services Centre (IFSC) housed in the Gujarat International Financial Tech City (GIFT), which is Prime Minister Narendra Modi's flagship project. "I'm pleased to an...
India lets firms list on Narendra Modi's flagship finance hub to draw foreign capital
India lets firms list on Narendra Modi's flagship finance hub to draw foreign capital
Source: Reuters
29/07/2023 12:30:35 PM
Gaming industry proposes new GST levy formula to government The online gaming industry has suggested a new formula to the government for levy of 28 per cent GST on its activities, mainly seen as a measure to protect its interests, as per reports. On July 11, the GST Council, headed by Finance Minister Nirmala Sitharaman, had decided to levy the highest slab of 28 per cent GST on the full value of money paid by users to play skill-based games, without any differentiation between games of skill and chance. As of now, there is an 18 per cent GST le...
Gaming industry proposes new GST levy formula to government
Gaming industry proposes new GST levy formula to government
Source: IANS
29/07/2023 8:51:07 AM
India all set to become energy independent by 2047: Finance Minister Stressing need to focus on green growth and reduction in carbon intensity, Union Minister of Finance and Corporate Affairs Nirmala Sitharaman has said that India is all set to become energy independent by 2047 and achieving net zero by 2070.  Sitharaman further said that the Indian chemical and petrochemicals sector has huge potential and it also impacts other sectors of the economy. The importance of the sector can be gauged from the fact that it deals with more than 80,000 chemicals...
India all set to become energy independent by 2047: Finance Minister
India all set to become energy independent by 2047: Finance Minister
Source: Accord Fintech
28/07/2023 1:01:19 PM
Canadian pension plan investment board delegation meets NIrmala Sitharaman  Finance Minister Nirmala Sitharaman on Thursday met a delegation from the Canadian Pension Plan Investment Board (CPPIB), which highlighted its investment plans in India on the long run. "Union Finance Minister Smt. @nsitharaman met a delegation from Canadian Pension Plan Investment Board (CPPIB) @cppinvestments comprising of their global senior leadership," the Finance Ministry said in a tweet. The delegation was led by John Graham, President and CEO of the CPPIB. &q...
Canadian pension plan investment board delegation meets NIrmala Sitharaman
Canadian pension plan investment board delegation meets NIrmala Sitharaman
Source: IANS
28/07/2023 10:37:58 AM
Centre plans to bring PLI scheme for chemicals, petrochemicals sectors: Finance Minister Nirmala Sitharaman  The central government has said that it will look at bringing a productivity linked incentive (PLI) scheme for the chemicals and petrochemicals sector. Addressing an industry body event organised by FICCI, Finance Minister Nirmala Sitharaman on Thursday said that the government will consider a PLI scheme for the petrochemical and chemical sectors as India aims to become energy independent and achieve net-zero carbon emission by 2070. As of now, the government has rolled out 14 PLI...
Centre plans to bring PLI scheme for chemicals, petrochemicals sectors: Finance Minister Nirmala Sitharaman
Centre plans to bring PLI scheme for chemicals, petrochemicals sectors: Finance Minister Nirmala Sitharaman
Source: IANS
27/07/2023 3:48:58 PM
GST Council expected to finalise taxing rules on online gaming on August 2 The Goods and Services Tax (GST) Council, which is expected to meet on August 2, 2023, will finalise draft rules on taxing online gaming, casinos, and horse racing. The council representing finance ministers of states will take a final call on whether the tax will be levied on entry-level or on each bet.  In its 50th meeting earlier this month, the Council headed by Finance Minister Nirmala Sitharaman decided to levy the maximum 28 per cent tax on the full face value of bets in online...
GST Council expected to finalise taxing rules on online gaming on August 2
GST Council expected to finalise taxing rules on online gaming on August 2
Source: Accord Fintech
27/07/2023 10:16:05 AM
More than 4 crore ITRs filed for FY23 so far: CBDT chairperson CBDT chairperson Nitin Gupta has said that more than four crore income tax returns (ITRs) for the financial year 2022-23 have been filed so far and about 7 per cent of these are new or first-time filers. He said that more than half of these ITRs have been processed leading to 80 lakh refunds till now. He said ‘the shortage of manpower at every level was impeding our efforts to give even better results’. He urged Union Finance Minister Nirmala Sitharaman for a ‘quick approval...
More than 4 crore ITRs filed for FY23 so far: CBDT chairperson
More than 4 crore ITRs filed for FY23 so far: CBDT chairperson
Source: Accord Fintech
25/07/2023 11:37:09 AM
Banks need to deal with poor loan defaulters in sensitive, humane way: FM Nirmala Sitharaman Union Finance Minister Nirmala Sitharaman on Monday said in Lok Sabha through an intervention that all banks whether public or private have been instructed through RBI to deal with poor farmers in a humane and sensitive manner on the issue of repayment of missed loan instalments. During Question Hour as Minister of State for Finance Bhagwat Karad was replying to a question by a Shiv Sena member on harsh tactics undertaken by banks while dealing with poor loan defaulters, Sitharaman interve...
Banks need to deal with poor loan defaulters in sensitive, humane way: FM Nirmala Sitharaman
Banks need to deal with poor loan defaulters in sensitive, humane way: FM Nirmala Sitharaman
Source: IANS
24/07/2023 2:01:08 PM
GST revenue collections enormously increased in Tripura too, says Nirmala Sitharaman Union Finance Minister Nirmala Sitharaman on Friday said that like other states, GST revenue collections enormously increased in Tripura too. Before the GST was introduced, Tripura received only Rs 4.21 crore as Central Sales Tax (CST) in FY 2016-17, whereas the state collected Rs 982.50 crore IGST in FY 2022-23 from inter-state trade, she said after inaugurating the newly-built GST Bhawan here. She emphasised the importance of good infrastructure which can be leveraged to serve taxpaye...
GST revenue collections enormously increased in Tripura too, says Nirmala Sitharaman
GST revenue collections enormously increased in Tripura too, says Nirmala Sitharaman
Source: IANS
22/07/2023 9:35:47 AM
Tax collection in Assam increased 12 times after GST adoption: Finance Minister Nirmala Sitharaman Union Finance Minister Nirmala Sitharaman on Friday said the Goods and Services Tax (GST) collection and devolution in the northeastern states has been a success, Addressing the Investiture Ceremony of the Central Board of Indirect Taxes and Customs (CBIC), she said that the eight states in the region have seen a compounded yearly GST increase of 27.5 per cent, according to the 2023 RBI assessment on state budgets. “Four days after it passed, Assam became the first state to ratify...
Tax collection in Assam increased 12 times after GST adoption: Finance Minister Nirmala Sitharaman
Tax collection in Assam increased 12 times after GST adoption: Finance Minister Nirmala Sitharaman
Source: IANS
21/07/2023 2:02:03 PM
Japanese PM`s adviser calls on Finance Minister Nirmala Sitharaman, discusses women`s empowerment issues Finance Minister Nirmala Sitharaman on Thursday met the special adviser to the Japanese prime minister, Mori Masako, and exchanged views on issues related to women's economic empowerment.  "Special Advisor to the Prime Minister of Japan, Ms. @morimasakosangi called on Union Finance Minister Smt @nsitharaman, in New Delhi, today. They exchanged views on issues related to women's #EconomicParticipation and #empowerment," the Finance Ministry tweeted.  During th...
Japanese PM`s adviser calls on Finance Minister Nirmala Sitharaman, discusses women`s empowerment issues
Japanese PM`s adviser calls on Finance Minister Nirmala Sitharaman, discusses women`s empowerment issues
Source: IANS
20/07/2023 5:42:48 PM
Finance Minister Nirmala Sitharaman meets World Bank President Ajay Banga Finance Minister Nirmala Sitharaman met World Bank Group President Ajay Banga on Wednesday, and discussed deepening of partnership to secure tangible outcomes at the G20 Leaders’ Summit scheduled to take place in September. "Union Finance Minister Smt. @nsitharaman and World Bank Group @WorldBank President, Mr. Ajay Banga, today in New Delhi. President @WorldBank congratulated the Union Finance Minister for the successful G20’s 3rd Finance Ministers and Central Bank Govern...
Finance Minister Nirmala Sitharaman meets World Bank President Ajay Banga
Finance Minister Nirmala Sitharaman meets World Bank President Ajay Banga
Source: IANS
20/07/2023 9:49:44 AM
India`s inputs to play important role in formulating global policy for new-age assets: FM Nirmala Sitharaman Union Finance Minister Nirmala Sitharaman has said that various issues surrounding cryptocurrencies were discussed at a key G20 meeting and India's inputs will play an important role in formulating a comprehensive global policy for the new-age assets.  The minister said members welcomed the high-level recommendation of the Financial Stability Board (FSB) on crypto asset activities. Members also discussed the presidency note that India had prepared, and noted it would be an importa...
India`s inputs to play important role in formulating global policy for new-age assets: FM Nirmala Sitharaman
India`s inputs to play important role in formulating global policy for new-age assets: FM Nirmala Sitharaman
Source: Accord Fintech
19/07/2023 11:29:48 AM
US working with India on platform to speed its energy transition - Janet Yellen The United States is working with India to develop an investment platform to lower the cost of capital and increase private investment to fast-track India's energy transition, U.S. Treasury Secretary Janet Yellen said on Monday. "We are close to reaching an agreement on the global minimum tax system," said Yellen, after a bi-lateral meeting with India's finance minister Nirmala Sitharaman on the sidelines of a G20 meeting. The visit is Yellen's third to India this ...
US working with India on platform to speed its energy transition - Janet Yellen
US working with India on platform to speed its energy transition - Janet Yellen
Source: Reuters
17/07/2023 9:44:10 AM
India-Indonesia Economic and Financial Dialogue launched at G20 Finance Ministers` meet Finance Minister Nirmala Sitharaman and her Indonesian counterpart Mulyani Indrawati on Sunday announced the launch of the “India–Indonesia Economic and Financial Dialogue” (EFD Dialogue). The platform, unveiled during the G20 Finance Ministers and Central Bank Governors (FMCBG) meeting at Gandhinagar, seeks to strengthen cooperation between the two nations and foster a shared understanding on global issues. "The evolution of India's ‘Look East Policy&rs...
India-Indonesia Economic and Financial Dialogue launched at G20 Finance Ministers` meet
India-Indonesia Economic and Financial Dialogue launched at G20 Finance Ministers` meet
Source: IANS
16/07/2023 6:06:36 PM
NIrmala Sitharaman to chair G20 meet of finance ministers, central bank governors tomorrow Finance minister Nirmala Sitharaman on Sunday embarked on a visit to Gandhinagar to attend the third G20 Finance Ministers and Central Bank Governors (G20FMCBG) meetings, which is to be held under India's G20 presidency on July 17-18. On the sidelines of the G20FMCBG meetings, she will also participate in an Investor Dialogue Roundtable, a tax symposium, besides other bilateral engagements, including with Canada, Indonesia, US, European Commission and Asian Infrastructure Investment Ba...
NIrmala Sitharaman to chair G20 meet of finance ministers, central bank governors tomorrow
NIrmala Sitharaman to chair G20 meet of finance ministers, central bank governors tomorrow
Source: IANS
16/07/2023 2:17:33 PM
Union Finance Minister Nirmala Sitharaman, RBI Governor to co-chair G20 FMCBG meet in Gandhinagar Union Finance Minister Nirmala Sitharaman and Reserve Bank of India (RBI) Governor Shaktikanta Das will jointly chair a meeting of the G20 Finance Ministers and Central Bank Governors (FMCBG) on July 17-18 here, an official has said. These discussions are being held under India's presidency of the G20 which comprises 19 countries and the European Union.  The key gathering will witness the participation of 66 delegations from around the world, focusing on issues related to the g...
Union Finance Minister Nirmala Sitharaman, RBI Governor to co-chair G20 FMCBG meet in Gandhinagar
Union Finance Minister Nirmala Sitharaman, RBI Governor to co-chair G20 FMCBG meet in Gandhinagar
Source: IANS
14/07/2023 7:47:43 PM
GST waived off on cancer treatment drugs, special medicines The GST Council in its 50th meeting on Tuesday, presided over by Union Finance Minister Nirmala Sitharaman, exempted cancer treatment drugs, special medicines, and food for medical purpose from levy of the Goods and Services Tax. Addressing a press conference after the marathon eight-hours-long meeting, Sitharaman said that tax exemption has also been extended to satellite launch services provided by private parties. The Council also decided that GST on food and beverages served in cine...
GST waived off on cancer treatment drugs, special medicines
GST waived off on cancer treatment drugs, special medicines
Source: IANS
12/07/2023 11:17:23 AM
GST Council approves 28% tax on online gaming; clarifies on taxation of utility vehicle The Goods and Services Tax (GST) Council has decided to levy the maximum 28 per cent tax on the full face value of bets in online gaming, casinos and horse racing, lowered tax on food and beverages sold in multiplexes, and tweaked the definition of utility vehicles for the levy. The Council also exempted GST (Goods and Services Tax) on import of cancer drug Dinutuximab, and medicines used to treat rare diseases and food used in Food for Special Medical Purposes (FSMP), besides satellite launc...
GST Council approves 28% tax on online gaming; clarifies on taxation of utility vehicle
GST Council approves 28% tax on online gaming; clarifies on taxation of utility vehicle
Source: Accord Fintech
12/07/2023 10:39:41 AM
GST council likely to discuss taxation under ONDC during meeting next week  The Goods and Services Tax (GST) council, which is set to meet on July 11, is likely to give clarity on whether tax collected at source (TCS) should be deducted by the buyer or the e-commerce platform, from whom the product has been purchased under the open network for digital commerce (ONDC) platform. The GST council, which is headed by Finance Minister Nirmala Sitharaman, is expected to discuss the ONDC in the meeting. Under ONDC, a buyer places an order with an e-commerce platf...
GST council likely to discuss taxation under ONDC during meeting next week
GST council likely to discuss taxation under ONDC during meeting next week
Source: IANS
9/07/2023 3:16:27 PM
SLBC Puducherry organises Credit Outreach Programme State Level Bankers’ Committee (SLBC) Puducherry today organised a ‘Credit Outreach Programme’ at Puducherry aimed at facilitating access of various financial services in the Union Territory with a focus on sectors like tourism, agriculture, fishing, education, etc.   The programme was chaired by Smt. Nirmala Sitharaman, Hon'ble Union Minister of Finance and Corporate Affairs. Other dignitaries present were Dr. Tamilisai Soundararajan, Hon'ble Lieutenant G...
SLBC Puducherry organises Credit Outreach Programme
SLBC Puducherry organises Credit Outreach Programme
Source: PR Agency
8/07/2023 11:22:05 AM