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GDP growth in Q1FY24 should be good; government priority is to tame inflation: FM Nirmala Sitharaman Finance Minister Nirmala Sitharaman has said that India's Gross domestic product (GDP) growth in the first quarter of this fiscal (Q1FY24) should be good and that the government's priority is to tame inflation, which has touched a 15-month high. She also said that green shoots of private capital expenditure upcycle can be palpably felt as the government's enhanced capital expenditure is now crowding in private sector investments.  Mentioning about the key priorities of the...
GDP growth in Q1FY24 should be good; government priority is to tame inflation: FM Nirmala Sitharaman
GDP growth in Q1FY24 should be good; government priority is to tame inflation: FM Nirmala Sitharaman
Source: Accord Fintech
28/08/2023 11:14:01 AM
India to offer $455 million in incentives for battery storage projects  India will offer 37.6 billion rupees ($455.2 million) in incentives to companies setting up battery storage projects totaling 4,000 megawatt hours (MWh) under a scheme announced earlier this year, two government sources said. The scheme is intended to boost battery storage projects critical to India's ambitious plan to expand its renewable energy capacity to 500 gigawatts (GW) by 2030 and cut the cost of battery energy storage from the current 5.5-6.5 rupees per unit. Battery ...
India to offer $455 million in incentives for battery storage projects
India to offer $455 million in incentives for battery storage projects
Source: Reuters
6/06/2023 4:30:37 PM
India working to rein in inflation - FM Nirmala Sitharaman  Inflation in India is slightly above the "tolerance limit", and the government is taking steps to control it, Indian Finance Minister Nirmala Sitharaman said on Saturday. "Because we took a very calibrated approach, today we have an inflation which is slightly above the tolerance limit, but which is constantly being worked at so it can be brought down," she said. India's annual retail inflation for March rose at the slowest pace in nearly 15 months and was ...
India working to rein in inflation - FM Nirmala Sitharaman
India working to rein in inflation - FM Nirmala Sitharaman
Source: Reuters
6/05/2023 11:42:19 AM
Nirmala Sitharaman underlines need for robust ADB Finance minister Nirmala Sitharaman on Thursday stressed on the need for a robust Asian Development Bank (ADB) that adopts a transformational rather than incremental approach for sustainable and resilient regional development. She made these observations while participating in the business session of the ADB's annual meeting in Incheon, South Korea. The Finance Minister further underlined the need for ADB to focus on global public goods in their regional dimension while continuing ...
Nirmala Sitharaman underlines need for robust ADB
Nirmala Sitharaman underlines need for robust ADB
Source: IANS
4/05/2023 12:38:54 PM
India committed to reforms agenda, has investment opportunities: FM Nirmala Sitharaman Union Finance Minister Nirmala Sitharaman has reiterated that the India is committed to pursuing the reform agenda for building a stronger and more dynamic country, to provide plenty of opportunities for collaboration and investments. Participating in a roundtable meeting on "Investing in the India Decade" organised by industry body FICCI and US India Strategic Partnership Forum in Washington D.C. on the sidelines of Spring meetings of the IMF and World Bank, Sitharaman on Tuesda...
India committed to reforms agenda, has investment opportunities: FM Nirmala Sitharaman
India committed to reforms agenda, has investment opportunities: FM Nirmala Sitharaman
Source: IANS
12/04/2023 10:30:28 AM
G20 Finance Ministers` meet ends without consensus on Ukraine conflict  The two-day G20 Finance Ministers and Central Bank Governors meeting ended on Saturday without a joint communique as differences prevailed among member nations over how to describe Russia's invasion of Ukraine. In place of a joint communique, a G20 Chair's Summary and Outcome Document was released after the meeting culminated on Saturday. The meeting began on February 24 in Bengaluru, coinciding with the first anniversary of the Russia-Ukraine conflict. Countries like t...
G20 Finance Ministers` meet ends without consensus on Ukraine conflict
G20 Finance Ministers` meet ends without consensus on Ukraine conflict
Source: IANS
26/02/2023 9:21:49 AM
How Budget 2023 Impacts Your Personal Finance Union Budget 2023 is set out to have a significant impact on the personal finances of many. Depending on your income, you are in for some substantial changes. On the whole, the government has kept the middle-class population in mind while increasing the tax benefits, restructuring tax slabs, and raising the rebate. Further, the maximum rate of tax for high-income earners has also been slashed by reducing the surcharge. To benefit salaried non-government employees, the leave encashment exem...
How Budget 2023 Impacts Your Personal Finance
How Budget 2023 Impacts Your Personal Finance
Source: .
7/02/2023 11:40:23 AM
Budget strengthens the fundamental pillars and ensures resilience, inclusivity and sustainability: FICCI Reflects a nimble footed and agile approach to keep India on the growth path Commenting on the Union Budget 2022-23, Mr Subhrakant Panda, President, FICCI said, “FICCI congratulates the Hon’ble Finance Minister for delivering a balanced and progressive Union Budget which gives primacy to inclusive growth. The announcements made today capture the pulse of the economy while retaining credibility both in terms of projections as well as committing to the fiscal consolidat...
Budget strengthens the fundamental pillars and ensures resilience, inclusivity and sustainability: FICCI
Budget strengthens the fundamental pillars and ensures resilience, inclusivity and sustainability: FICCI
Source: PR Agency
2/02/2023 12:41:31 PM
India`s focus on wide ranging reforms, sound policies result in resilience during crises:Finance Minister Nirmala Sitharaman Union Minister for Finance & Corporate Affairs, Nirmala Sitharaman has said that India’s focus on wide ranging reforms and sound policies resulted in resilience during crises. She further said ‘Implemented through Sabka Prayas resulting in Jan Bhagidari and targeted support to those in need, these helped us perform well in trying times’. While presenting the Union Budget 2023-24, the Finance Minister underscored that India’s rising global profile is because of s...
India`s focus on wide ranging reforms, sound policies result in resilience during crises:Finance Minister Nirmala Sitharaman
India`s focus on wide ranging reforms, sound policies result in resilience during crises:Finance Minister Nirmala Sitharaman
Source: Accord Fintech
2/02/2023 11:31:50 AM
Post Budget Reaction : Government has shown fiscal prudence in bringing down the fiscal deficit Says Mr. Praveen Vashishta, Howden Insurance Brokers India Below is Post Budget Reaction From Mr. Praveen Vashishta, Chairman, Howden Insurance Brokers India Pvt. Ltd “Kudos to the FM for delivering a growth-centric budget – the first budget of Amrit Kaal. The markets after giving an initial thumbs up have since petered down - typical of budget day reactions. To me, this is overall a win-win budget. With an increased capital outlay, the budget promotes ease of doing business, infrastructure growth, Agri-tech and a digital Ind...
Post Budget Reaction : Government has shown fiscal prudence in bringing down the fiscal deficit Says Mr. Praveen Vashishta, Howden Insurance Brokers India
Post Budget Reaction : Government has shown fiscal prudence in bringing down the fiscal deficit Says Mr. Praveen Vashishta, Howden Insurance Brokers India
Source: PR Agency
1/02/2023 5:32:39 PM
Post Budget Reaction : Government has shown fiscal prudence in bringing down the fiscal deficit Says Raghvendra Nath, Ladderup Wealth Management Below is Post Budget Reaction From Mr. Raghvendra Nath, Managing Director – Ladderup Wealth Management Private Limited “Like the last couple of years, the finance minister has rightly changed the budget exercise into a Vision exercise, where it lays down the Vision of the government for the next few years and make sure that all the facets of the economy are taken care of. Today the finance minister announced initiatives like green energy, inclusive development, reachi...
Post Budget Reaction : Government has shown fiscal prudence in bringing down the fiscal deficit Says Raghvendra Nath, Ladderup Wealth Management
Post Budget Reaction : Government has shown fiscal prudence in bringing down the fiscal deficit Says Raghvendra Nath, Ladderup Wealth Management
Source: PR Agency
1/02/2023 5:25:19 PM
Post Budget Reaction : holistic and futuristic Budget ensuring the strengthening of Economy Says Devesh Srivastava, General Insurance Corporation of India Below is Post Budget Reaction From Shri Devesh Srivastava, CMD, General Insurance Corporation of India (GIC Re) “In today’s Parliament, our Hon Finance Minister has delivered a holistic and futuristic Budget ensuring the strengthening of our Economy. Saptrishi, the 7 priorities of Budget 2023 are in support of the government’s 'Aatmanirbharta' mission, focusing on Inclusive development, Youth Power, Infrastructure and investment, Financial Sector, and wo...
Post Budget Reaction : holistic and futuristic Budget ensuring the strengthening of Economy Says Devesh Srivastava, General Insurance Corporation of India
Post Budget Reaction : holistic and futuristic Budget ensuring the strengthening of Economy Says Devesh Srivastava, General Insurance Corporation of India
Source: PR Agency
1/02/2023 5:18:33 PM
Post Budget Analysis : We are optimistic about the potential impact of these reforms on the Indian economy Says Haribandhu Patra, Lentra Below is Perspective on Union Budget 2023 by Haribandhu Patra, CFO Lentra, a digital lending cloud platform for banks and NBFCs The Union Budget 2023 is focused on building a strong and resilient Indian economy with a focus on tech-driven development, leading towards a knowledge-based economy with a strong financial sector. The government's focus on simplifying processes, expanding fintech services, and improving bank governance reflects its commitment to economic growth and stabi...
Post Budget Analysis : We are optimistic about the potential impact of these reforms on the Indian economy Says Haribandhu Patra, Lentra
Post Budget Analysis : We are optimistic about the potential impact of these reforms on the Indian economy Says Haribandhu Patra, Lentra
Source: PR Agency
1/02/2023 5:06:15 PM
PM Narendra Modi Government`s Budget 2023: A Step Towards A Stronger and More Inclusive India The Indian Union Budget 2023, presented by the Finance Minister Nirmala Sitharaman, focused on increasing infrastructure spending, boosting digital adoption, and promoting domestic production. The government announced a plan to invest Rs. 15.69 lakh crore in infrastructure over the next five years, including Rs. 1.97 lakh crore for roads and highways, and Rs. 1.07 lakh crore for the railways. Additionally, Rs. 1.53 lakh crore has been allocated for urban development and housing, with an em...
PM Narendra Modi Government`s Budget 2023: A Step Towards A Stronger and More Inclusive India
PM Narendra Modi Government`s Budget 2023: A Step Towards A Stronger and More Inclusive India
Source: .
1/02/2023 3:41:06 PM
Expert View: India budget to raise capex by 33% as jobs, infrastructure take priority  India's government will raise its capital expenditure by 33% to 10 trillion rupees ($122.29 billion) in the next fiscal year, the finance minister said on Wednesday, as Prime Minister Narendra Modi tries to create jobs ahead of a general election. Since taking office in 2014, Modi has ramped up capital spending including on roads and energy, while wooing investors through lower tax rates and labour reforms, and offering subsidies to poor households to clinch their political suppo...
Expert View: India budget to raise capex by 33% as jobs, infrastructure take priority
Expert View: India budget to raise capex by 33% as jobs, infrastructure take priority
Source: Reuters
1/02/2023 1:00:22 PM
Budget 23-24: Railways gets Rs 2.40L cr capital outlay, the highest ever  Indian Railways received a major boost from the Union Budget 2023-24 being presented by Union Finance Minister Nirmala Sitharaman in the Parliament on Wednesday. The Finance Minister in her Budget speech announced that Indian Railways will get a capital outlay of Rs 2.40 lakh crore, the highest ever till date, which will help roll out major projects, including new Vande Bharat trains, electrification of railway lines and others. The Railways is likely to roll out 75 Vende Bharat t...
Budget 23-24: Railways gets Rs 2.40L cr capital outlay, the highest ever
Budget 23-24: Railways gets Rs 2.40L cr capital outlay, the highest ever
Source: IANS
1/02/2023 12:14:34 PM
India to focus on growth, jobs in last full budget before 2024 election NEW DELHI - India will focus on economic growth and job creation, the finance minister said on Wednesday presenting the government's last full budget in parliament before a general election due next year that Prime Minister Narendra Modi is projected to win. The aim is to have strong public finances and a robust financial sector for the benefit of all sections of the country, Nirmala Sitharaman said. "The economic agenda ... for achieving this vision focuses on three things: fi...
India to focus on growth, jobs in last full budget before 2024 election
India to focus on growth, jobs in last full budget before 2024 election
Source: Reuters
1/02/2023 11:36:17 AM
Highway construction up from 6,061 km in FY16 to 10,457 km in FY22: Economic Survey There has been an increase in the construction of National Highways (NHs) and roads over time, with 10,457 km of roads constructed in FY22 as compared to 6,061 km in FY16. In FY23 (until October 2022), a total of 4,060 km of NHs and roads were constructed, which was around 91 per cent of the achievement in the corresponding period of the previous financial year, said the Economic Survey on Tuesday. Total budgetary support for investment in the sector has been increasing rapidly in the l...
Highway construction up from 6,061 km in FY16 to 10,457 km in FY22: Economic Survey
Highway construction up from 6,061 km in FY16 to 10,457 km in FY22: Economic Survey
Source: IANS
31/01/2023 3:22:50 PM
Industry expects Budget to provide thrust to UDAN, help more airports to take off Along with the increase in air traffic, the country has witnessed growth in the aviation infrastructure especially in terms of more routes and development of airports. Keeping in view the past growth in the air traffic, Industry expects that the upcoming Budget will give wings to the aviation sector. The ambitious regional connectivity scheme UDAN (Ude Desh ka Aam Nagrik) is one such scheme of the government and it is going to add more feathers to its cap in the coming time. While 453 rout...
Industry expects Budget to provide thrust to UDAN, help more airports to take off
Industry expects Budget to provide thrust to UDAN, help more airports to take off
Source: IANS
31/01/2023 1:34:48 PM
Presented in the shadow of upcoming polls, Budget likely to be tightrope walk The FY24 Union Budget is likely to be a tightrope walk, considering its fiscal guidance and the 2024 Lok Sabha elections, Phillip Capital said in a report. "We estimate fiscal deficit for FY24 at 5.8-6.0% and FY23 at 6.2%. Muted nominal GDP growth (due to global slowdown and low deflator) will constrain tax revenue and government spending, compared to the strong pace in the last couple of years", the report said. Thus, the government's innovation will be tested - to delive...
Presented in the shadow of upcoming polls, Budget likely to be tightrope walk
Presented in the shadow of upcoming polls, Budget likely to be tightrope walk
Source: IANS
28/01/2023 6:10:03 PM
Union budget: Long term capital gains tax likely to be rationalised The government may look at rationalising long term capital gains (LTCG) tax structure in the forthcoming Union Budget for 2023-24. As of now, shares held for more than one year attract a 10 per cent LTCG tax. This tax was discontinued in 2005, but was reintroduced in 2018 in the Union Budget for that fiscal. The Finance Ministry is learnt to be looking at ensuring parity between similar asset classes by rationalising the LTCG tax structure and even revising the base year for computin...
Union budget: Long term capital gains tax likely to be rationalised
Union budget: Long term capital gains tax likely to be rationalised
Source: IANS
17/01/2023 10:08:26 AM
Finance Minister Nirmala Sitharaman says need to simplify refund process for depositors Finance Minister Nirmala Sitharaman on Monday accepted, in the Parliament that the process of recovering money by small depositors from bad debts is very complicated and lengthy, and there is a need to simplify it. Replying to a question by NCP member Supriya Sule during Question Hour in tnhe Lok Sabha on writing off of bad loans and their recovery and problems faced by depositors, Sitharaman said: "Unfortunately, the processes (of recovering money) are so layered that by the time jus...
Finance Minister Nirmala Sitharaman says need to simplify refund process for depositors
Finance Minister Nirmala Sitharaman says need to simplify refund process for depositors
Source: IANS
20/12/2022 9:42:55 AM
Petrol and diesel can come under GST if all states agree: Hardeep Singh Puri Petroleum Minister Hardeep Puri on Monday said that if states are ready, then the Centre can bring petrol and diesel under the GST regime. Puri, who was in Srinagar, told media persons that for bringing petrol and diesel under GST, the states need to have a consensus. So if the states are ready, then the Centre would also be prepared as it has been ready for it all along, he added, as per reports. At the same time though, he noted that how would be implemented, is another issue altogeth...
Petrol and diesel can come under GST if all states agree: Hardeep Singh Puri
Petrol and diesel can come under GST if all states agree: Hardeep Singh Puri
Source: IANS
15/11/2022 10:04:00 AM
Govt approves India’s first sovereign green bonds framework Giving a strong signal of the country's commitment to a low-carbon economy, Union Minister for Finance & Corporate Affairs Nirmala Sitharaman has approved the final Sovereign Green Bonds framework of India. This approval will further strengthen India’s commitment towards its Nationally Determined Contribution (NDCs) targets, adopted under the Paris Agreement, and help in attracting global and domestic investments in eligible green projects. The proceeds generated from issuance o...
Govt approves India’s first sovereign green bonds framework
Govt approves India’s first sovereign green bonds framework
Source: Accord Fintech
10/11/2022 9:32:29 AM
Janet Yellen heads to India to draw surging economic power closer to U.S. orbit Janet Yellen embarks on her first trip to India as U.S. Treasury Secretary on Tuesday, focusing more on the similarities of the world's two largest democracies and opportunities for deeper ties than on past trade and geopolitical spats. Yellen is not expected to dwell on India's failure to condemn Russia's war in Ukraine, nor on India's massive increase in purchases of discounted Russian oil this year. A Treasury official said the United States was not seeking to dissuad...
Janet Yellen heads to India to draw surging economic power closer to U.S. orbit
Janet Yellen heads to India to draw surging economic power closer to U.S. orbit
Source: Reuters
8/11/2022 5:02:03 PM
FIEO urges Finance Minister to extend GST exemption on export freight The Federation of Indian Export Organizations (FIEO) has urged Union Finance Minister Nirmala Sitharaman to extend the Goods and Services Tax (GST) exemption on export freight that lapsed on September 30. The FIEO expressed concern that if the exemption is not extended, it will add to their liquidity challenges amid rising interest rates. Since its introduction in 2018, the government had extended the exemption twice till September this year. FIEO President A Sakthivel has said that overse...
FIEO urges Finance Minister to extend GST exemption on export freight
FIEO urges Finance Minister to extend GST exemption on export freight
Source: Accord Fintech
4/10/2022 3:57:37 PM
Innovation to be key in making India developed nation by 2047: FM Nirmala Sitharaman Union Finance Minister Nirmala Sitharaman has said innovation is going to be key factor in making India a developed nation by 2047, as she highlighted the immense potential of digitalisation in achieving this. Sitharaman also said that if the same momentum that was seen through COVID-19 and immediately after that continues, and if all countrymen put their efforts together, building India as a developed economy by 2047 should not be difficult. She mentioned ‘Innovation is going to be ...
Innovation to be key in making India developed nation by 2047: FM Nirmala Sitharaman
Innovation to be key in making India developed nation by 2047: FM Nirmala Sitharaman
Source: Accord Fintech
30/09/2022 11:25:27 AM
Government making efforts to keep inflation under 4%: FM Nirmala Sitharaman Union Finance Minister Nirmala Sitharaman has said the government was making efforts to keep inflation under 4 per cent and steps were being taken to ensure people get essential goods at fair price and on time. She said steps were being taken to keep inflation at a certain level. On rising prices, she said ‘as far as inflation is concerned, I have been answering questions (on the issue) in Parliament every time they have been raised. Steps were being taken to keep inflation at one level...
Government making efforts to keep inflation under 4%: FM Nirmala Sitharaman
Government making efforts to keep inflation under 4%: FM Nirmala Sitharaman
Source: Accord Fintech
23/09/2022 11:12:32 AM
Finance Minister urges fintech players to engage more with government Finance Minister Nirmala Sitharaman on Tuesday urged the financial technology or fintech industry to build trust and engage more with the government. Addressing the Global Fintech Fest 2022 (GFF) virtually, Sitharaman said that distances should be bridged and greater engagement should be ensured between regulators, industry and the government. She said that distances bring distrust and therefore greater engagement with the government will help in discussions and exchange of ideas. Th...
Finance Minister urges fintech players to engage more with government
Finance Minister urges fintech players to engage more with government
Source: IANS
20/09/2022 5:30:02 PM
RBI rate hike a surprise as it came between 2 review meetings: FM Nirmala Sitharaman The Reserve Bank of India's (RBI) move to raise the policy rate is part of a synchronised action by the central banks, Union Finance Minister Nirmala Sitharaman has said, adding that it came as a surprise only because it was done between two monetary policy reviews. "It is the timing which came as a surprise to many, but the act people thought should have been done anyway - to what extent could have varied," she said at The Economic Times Awards for Corporate Excellence in Mu...
RBI rate hike a surprise as it came between 2 review meetings: FM Nirmala Sitharaman
RBI rate hike a surprise as it came between 2 review meetings: FM Nirmala Sitharaman
Source: IANS
8/05/2022 3:35:06 PM
Urgent need for coordinated action across countries for swift post-pandemic recovery: FM Nirmala Sitharaman Sharing insights on the economic outlook, risks and near-term policy challenges for Emerging Market Economies (EMEs), Finance Minister Nirmala Sitharaman has expressed an urgent need for coordinated action across countries to not only enable swift post-pandemic recovery but also to build resilience to future shocks. While explaining India’s policy approach, Sitharaman mentioned that an accommodative fiscal stance was also accompanied by major structural reforms, including the bankrup...
Urgent need for coordinated action across countries for swift post-pandemic recovery: FM Nirmala Sitharaman
Urgent need for coordinated action across countries for swift post-pandemic recovery: FM Nirmala Sitharaman
Source: IANS
20/04/2022 2:51:11 PM
PF rate cut based on 'today's realities', ministry yet to approve: FM Nirmala Sitharaman The proposal to cut the interest rate on employees' provident fund deposits was dictated by today's realities where returns on other small saving instruments were even lower, Union Finance Minister Nirmala Sitharaman told the Parliament on Monday. The Central Board of Employees' Provident Fund Organisation (EPFO) recently decided to pay 8.1 per cent rate of interest on provident fund deposits for the current financial year. This is a reduction from the 8.5 per cent in financial...
PF rate cut based on 'today's realities', ministry yet to approve: FM Nirmala Sitharaman
PF rate cut based on 'today's realities', ministry yet to approve: FM Nirmala Sitharaman
Source: IANS
22/03/2022 11:07:06 AM
100 PM Gati Shakti Cargo terminals to be developed in 3 years: FM Nirmala Sitharaman Finance Minister Nirmala Sitharaman on Tuesday said that 100 cargo terminals will be developed during the next three years under the PM Gati Shakti master plan. "100 PM Gati Shakti cargo terminals for multimodal logistic facilities will be developed during the next three years," the Finance Minister said while presenting the Union Budget in Parliament on Tuesday. The Gati Shakti - National Master Plan for Multimodal Connectivity was launched by Prime Minister Narendra Modi in ...
100 PM Gati Shakti Cargo terminals to be developed in 3 years: FM Nirmala Sitharaman
100 PM Gati Shakti Cargo terminals to be developed in 3 years: FM Nirmala Sitharaman
Source: IANS
1/02/2022 12:15:36 PM
Budget 2022-23 : Nirmala Sitharaman arrives at the Ministry of Finance Budget 2022-23 : Nirmala Sitharaman arrives at the Ministry of Finance
Budget 2022-23 : Nirmala Sitharaman arrives at the Ministry of Finance
Budget 2022-23 : Nirmala Sitharaman arrives at the Ministry of Finance
Source: investmentguruindia.com
1/02/2022 8:59:36 AM
Collective progress of all countries to ensure sustainable, inclusive recovery : FM Nirmala Sitharaman Finance Minister Nirmala Sitharaman has said for a strong, sustainable and inclusive recovery of the global economy hit by the outbreak of COVID-19 pandemic, it is imperative to ensure collective progress of all countries. She stressed on the critical role of multilateralism and collective action in achieving the goal of global recovery. She also underlined the importance of inclusion, investment, innovation and institutions to support the path of global recovery. Sitharaman emphasised on ...
Collective progress of all countries to ensure sustainable, inclusive recovery : FM Nirmala Sitharaman
Collective progress of all countries to ensure sustainable, inclusive recovery : FM Nirmala Sitharaman
Source: Accord Fintech
10/12/2021 9:52:45 AM
Centre to release Rs 95,082 crore as tax devolution to states in November: Nirmala Sitharaman In order to enable the states to step up their capex and spur economic growth close to double digits this fiscal year, Union Finance Minister Nirmala Sitharaman has said that the Centre will release Rs 95,082 crore as tax devolution to the states this month after including one advance instalment. She said ‘I have suggested the Finance Secretary that on November 22 instead of normal Rs 47,541 crore, the states be given one more instalment. So Rs 95,082 crore will be given to states on No...
Centre to release Rs 95,082 crore as tax devolution to states in November: Nirmala Sitharaman
Centre to release Rs 95,082 crore as tax devolution to states in November: Nirmala Sitharaman
Source: Nirmal Bang Ltd
16/11/2021 9:55:12 AM
Over 1,700 consignments of uncleared/seized hazardous imports disposed off As part of the government's continuing commitment to public safety, Union Finance and Corporate Affairs Minister Nirmala Sitharaman has reviewed the progress made by the Customs in the safe disposal of imports, that are hazardous in nature and which remain uncleared or have been seized or confiscated. The disposal of all types of uncleared or unclaimed or seized hazardous cargo consignments, including chemicals, electronic waste, etc, is an exercise undertaken across Customs locations....
Over 1,700 consignments of uncleared/seized hazardous imports disposed off
Over 1,700 consignments of uncleared/seized hazardous imports disposed off
Source: IANS
9/11/2021 9:54:41 AM
Finance Minister urges power, coal ministries to fast-track capex plan Asserting that infrastructure projects are a priority for the government, Finance Minister Nirmala Sitharaman has reviewed the progress of capital expenditure by the ministries of power and coal and asked them to ensure that project implementation is fast-tracked. The finance minister emphasized there must be close monitoring for infrastructure spending on-ground and ministries must continuously make concerted efforts, including enhanced coordination with all states, to ensure that project...
Finance Minister urges power, coal ministries to fast-track capex plan
Finance Minister urges power, coal ministries to fast-track capex plan
Source: Accord Fintech
2/11/2021 12:01:02 PM
Government committed to bring economy on fiscal consolidation path in near-to-medium term: Nirmala Sitharaman Union Finance Minister Nirmala Sitharaman has said that as an accommodative fiscal stance is being maintained in the near-term to support the economy, the government remains committed to bring the economy on the fiscal consolidation path in the near-to-medium term. She said the Union government fiscal deficit is budgeted at 6.8 percent of GDP in the current year and it will be reduced to 4.5 percent of GDP by 2025-26. The minister has stated that next year's budget will contain medium-...
Government committed to bring economy on fiscal consolidation path in near-to-medium term: Nirmala Sitharaman
Government committed to bring economy on fiscal consolidation path in near-to-medium term: Nirmala Sitharaman
Source: Accord Fintech
18/10/2021 11:48:12 AM
India in last stage of finalising details on global minimum tax: Finance Minister Nirmala Sitharaman Finance Minister Nirmala Sitharaman has said India is very close to arriving at the specifics of the two-pillar taxation proposition at the G20 and is in the last stage of finalising the details. A total of 130 countries had in July agreed to a overhaul of global tax norms to ensure that multinationals pay taxes wherever they operate and at a minimum 15% rate. The Finance Ministry had then said that some significant issues including share of profit allocation and scope of subject to tax rules...
India in last stage of finalising details on global minimum tax: Finance Minister Nirmala Sitharaman
India in last stage of finalising details on global minimum tax: Finance Minister Nirmala Sitharaman
Source: Accord Fintech
7/10/2021 11:35:24 AM
Ready to discuss bringing petrol, diesel under ambit of GST at next Council meet: Finance Minister Nirmala Sitharaman Amidst outcry over high taxes on motor fuel, Finance Minister Nirmala Sitharaman has said that she would be glad to discuss the suggestion of bringing petrol and diesel under the ambit of the Goods and Services Tax (GST) at the next meeting of the GST Council. Sitharaman has stated that state levies and central excise duty account for more than half of the retail selling prices of petrol and diesel. For instance, taxes make up for 60 per cent of the present retail price of petrol of Rs 91....
Ready to discuss bringing petrol, diesel under ambit of GST at next Council meet: Finance Minister Nirmala Sitharaman
Ready to discuss bringing petrol, diesel under ambit of GST at next Council meet: Finance Minister Nirmala Sitharaman
Source: Accord Fintech
24/03/2021 12:07:23 PM
80 Chinese cos currently active in India, equity investment negligible As the Indian government pushes the 'Aatmanirbhar Bharat' vision, official data show that about 80 Chinese companies established in India are 'active' currently. Union Finance Minister said on Tuesday that a total of 92 Chinese companies had established their place of business in India with approval from the Reserve Bank of India under the Foreign Exchange Management Act, 1999 (FEMA). Out of these, 80 companies are having their status as 'active' as on date. On t...
80 Chinese cos currently active in India, equity investment negligible
80 Chinese cos currently active in India, equity investment negligible
Source: IANS
10/02/2021 9:32:37 AM
Union Budget 2021: Did it meet the expectations of the Education Sector? The Union Budget 2021, the first-ever paperless budget was announced by the Finance Minister Nirmala Sitharaman yesterday. While a lot of prominence was given to the revival of all the sectors, post COVID-19; the overall reaction from the education sector was lukewarm. The sector felt that the budget fell a bit short on capitalizing on the opportunity to build momentum for digitization in Indian education that could have had far-reaching benefits for the young population. While there would...
Union Budget 2021: Did it meet the expectations of the Education Sector?
Union Budget 2021: Did it meet the expectations of the Education Sector?
Source: IANS
2/02/2021 2:11:59 PM
A landmark budget for gem & jewellery industry, says GJEPC The Gem Jewellery Export Promotion Council (GJEPC) on Monday welcomed Union Finance Minister Nirmala Sitharaman's visionary budget over reduction of customs duty on raw materials such as gold, silver and platinum to boost jewellery exports. The import duty on gold and silver has been reduced from 12.5 per cent to 7.5 per cent while import duty on platinum, pallidum etc has been reduced from 12.5 per cent to 10 per cent. The import duty on silver dore bar has been reduced from 11 per ce...
A landmark budget for gem & jewellery industry, says GJEPC
A landmark budget for gem & jewellery industry, says GJEPC
Source: IANS
2/02/2021 10:12:03 AM
India`s tax increase on crude palm oil imports could reduce shipments MUMBAI - India has imposed an additional tax on crude palm oil imports as the world's biggest importer of vegetable oils tries to build domestic agriculture infrastructure by taxing imports, Finance Minister Nirmala Sitharaman said on Monday. India cut the basic import tax on crude palm oil to 15% from 27.5%, but imposed a 17.5% "cess" - a separate tax - on the imports, Sitharaman said in her federal budget speech. The cess would provide resources for "an immediate ne...
India`s tax increase on crude palm oil imports could reduce shipments
India`s tax increase on crude palm oil imports could reduce shipments
Source: Reuters
2/02/2021 9:39:29 AM
India doubles healthcare spending, opens up insurance in 'get well soon' budget NEW DELHI - India proposed doubling healthcare spending in an annual budget unveiled on Monday and lifted caps on foreigners investing in its vast insurance market to help revive an economy that suffered its deepest recorded slump as a result of the pandemic. Delivering her budget statement to parliament, Finance Minister Nirmala Sitharaman projected a fiscal deficit of 6.8% of gross domestic product for 2021/22, higher than the 5.5% forecast by a recent Reuters poll of economists. Th...
India doubles healthcare spending, opens up insurance in 'get well soon' budget
India doubles healthcare spending, opens up insurance in 'get well soon' budget
Source: Reuters
1/02/2021 3:54:42 PM
India cuts basic import duty on edible oils MUMBAI  - India slashed the basic import duty on crude palm oil (CPO) to 15% from 27.5% earlier, Finance Minister Nirmala Sitharaman said on Monday. The basic custom duty on soybean oil and sunflower oil also cut 15% from 35% earlier Sitharaman said in her annual budget presented for 2021/22 financial year. The government has proposed 17.5% cess on CPO and 20% cess on crude soybean and sunflower oil, she said. India is the world's biggest importer of vegetable oils.  ...
India cuts basic import duty on edible oils
India cuts basic import duty on edible oils
Source: IANS
1/02/2021 3:38:11 PM
India bond yields surge on additional borrowing, shares rise post budget BENGALURU  - Indian bond yields jumped sharply on Monday after the government, in its annual budget presentation, announced plans to raise additional funds from the market over the next two months to bridge a deficit, even as shares rose on promises of reviving economic growth. Finance Minister Nirmala Sitharaman said the government's fiscal deficit for the current fiscal year to March 2021 is likely to reach 9.5%, compared with the budget estimate of 3.5%, and the government will...
India bond yields surge on additional borrowing, shares rise post budget
India bond yields surge on additional borrowing, shares rise post budget
Source: Reuters
1/02/2021 3:24:24 PM