Electoral Bonds not perfect but better, it is at least transparent, says FM Sitharaman
Sitharaman's remarks come amidst controversies surrounding the electoral bonds scheme, which allows anonymous donations to political parties. Critics have raised concerns about the lack of transparency and the potential for misuse. Key Points
mintCorporate tax rate cut led to rise in pvt investments, credit growth: FM Sitharaman
Finance minister Nirmala Sitharaman stressed the positive impact of the corporate tax rate cut on private investments and credit growth. She emphasized the need for capacity expansion in high employment potential areas. India is negotiating free trade agreements and has facilitated direct benefit transfers. Key Points
Economic TimesNirmala Sitharaman rides Mumbai local train, interacts with passengers | See Pictures
Nirmala Sitharaman was seen indulging in deep conversation with two men. She can be seen patiently listening to them and also sharing her input on the topic. Key Points
mintInflation within tolerance band; govt taking steps to check price rise: Finance minister Nirmala Sitharaman
Finance minister Nirmala Sitharaman assures the Rajya Sabha that inflation is within the tolerance band and the government is taking steps to check price rise. The government's efforts in managing prices of perishable commodities and essential goods have contributed to containing inflation. The Bhabha Atomic Research Centre is collaborating with the government on a project to de-humidify onions through Gamma Rays. Retail inflation has decreased and falls within the notified tolerance band. The government has implemented strategies to address onion prices and improve preservation methods. Steps have also been taken to address supply shortages of perishable goods. The government actively analyzes crop estimates to manage pulse prices and ensure a stable supply of essential commodities. Key Points
Times Of IndiaSitharaman proposes Rs 1.18 lakh cr interim Budget for J&K for 2024-25
Finance Minister Nirmala Sitharaman has proposed an interim budget of Rs 1.18 lakh crore for fiscal 2024-25 for the Union Territory of Jammu & Kashmir. The budget aims to reduce the fiscal deficit and achieve a 7.5% growth in the GSDP. Sitharaman praised the government's efforts to decentralise governance, promote inclusive development, and increase revenue generation. Key Points
Economic Times
What Nirmala Sitharaman said on job loss concerns due to AI | HT Interview
In an HT interview, union finance minister Nirmala Sitharaman said, "AI also requires human intervention. It is not going to operate on its own.” Key Points
Hindustan TimesBudget 2024: Why Sitharaman has given more to India than to Indians
Sitharaman's interim budget takes a conservative approach, focusing on fiscal prudence rather than pre-election giveaways. With a slower pace of capital expenditure and reduced welfare spending, Sitharaman aims to improve India's fiscal deficit. The budget also prioritizes private sector investment and assumes higher GDP growth. While Indians may not see immediate direct benefits, the long-term benefits for India are significant. Key Points
Economic TimesNirmala Sitharaman ranks 32 on Forbes' 2023 power list alongside Taylor Swift & Barbie
Finance Minister Nirmala Sitharaman has secured the 32nd place among Forbes' World's 100 Most Powerful Women, alongside Kamala Harris, Taylor Swift, and Barbie. The diverse list encompasses global sectors from politics to entertainment, featuring influential Indian women like Roshni Nadar Malhotra, Soma Mondal and Kiran Mazumdar-Shaw. Key Points
Economic TimesSebi asked to consult stakeholders at drafting stage to ensure regulations are not overly restrictive: FM
FM Nirmala Sitharaman reassured industry stakeholders, stating the government's directive to SEBI to consult shareholders and amend regulations perceived as overly restrictive. Addressing concerns of stifling innovation, Sitharaman emphasized a balanced approach for growth. She urged state-run banks to attract deposits with competitive interest rates while supporting India's expanding credit needs. Key Points
Economic TimesFM Nirmala Sitharaman stresses building awareness among people to reduce cyber fraud
Finance Minister Nirmala Sitharaman has urged people to become more aware of cyberfrauds and take control of technology to prevent them from abusing the system. Sitharaman also highlighted the need for organizations with systemically sensitive information to have sufficient technology and staff trained to firewall daily and continuously assess the firewall's capabilities. Key Points
Economic Times
Finance minister Nirmala Sitharaman pitches for strong, quota-based IMF
In her remarks at the IMF Board of Governors meeting here on the theme of 'Dialogue on Policy Challenges', Sitharaman expressed concerns about the slowdown in global growth. The IMF's steering committee has agreed on achieving a meaningful increase in quotas by the end of this year, its chair Nadia Calvino said. The committee also agreed on common priorities to safeguard financial stability, she said. Key Points
Economic TimesUPA showed people dreams, NDA fulfilled them: Sitharaman slams oppn during no-trust motion debate
Union Finance Minister Nirmala Sitharaman spoke in the Rajya Sabha, highlighting the Modi governments economic achievements and development since the UPA government. She criticized the opposition for their ‘Gareebo Hatao slogan and commented on the state of the banking sector. Sitharaman stated that the Indian economy is in a unique and rare position in the world, and several global agencies, along with the RBI, predict growth prospects. Key Points
Economic TimesIn Tripura, FM Sitharaman inspects Srimantapur ICP, jetty along Indo-Bangla border
Srimantapur ICP recorded an increasing trend in export-import trade, reflected in custom duty collection, standing at Rs.17.85 crore in 2022-23, according to a press communique of the Press Information Bureau (PIB) Key Points
Hindustan TimesFM Sitharaman advises new recruits to inform public about Rozgar Mela scheme
India's Prime Minister Narendra Modi has presented 71k job offer letters to new recruits across governmental organizations during the latest Rozgar Mela, a government-run scheme designed to generate employment opportunities for the country's youth. Finance Minister Nirmala Sitharaman called on those who received appointment letters to help share the scheme's benefits with the public and stressed that this initiative is in line with the Prime Minister's commitment to prioritizing employment generation. Key Points
Economic TimesFinance Minister Sitharaman gets talking on Adani, Russian oil buys, jobs and crypto
From the sidelines of the International Monetary Fund Spring meetings in Washington, Indias Finance Minister Nirmala Sitharaman shared her views on Indias economic challenges, the lack of jobs, the Adani-Hindenburg saga and the governments weak progress on privatization. Below are edited excerpts and the video conversation. Key Points
Economic Times
Soft landing of global economy is increasingly a possibility: Nirmala Sitharaman
Union Finance Minister Nirmala Sitharaman highlights the possibility of a soft landing for the global economy due to coordinated actions among countries and multilateral institutions. She emphasizes cautious optimism as economies are stabilizing but notes trade growth remains subdued and managing fiscal deficits will be challenging. Key Points
Economic TimesBJP is working in South India, says FM Sitharaman ahead of Lok Sabha polls
Finance Minister Nirmala Sitharaman acknowledged the challenges faced by the BJP in South India but stated that the party is actively working in Kerala, Tamil Nadu, and Andhra Pradesh. She expressed confidence in Prime Minister Modi's return to power. Sitharaman condemned Karnataka MP DK Suresh's statement on a separate country for Southern states and questioned his failure to raise the issue in the Lok Sabha. Key Points
Economic Times31 dead in Tamil Nadu rain fury, Centre gave Rs 900 crore to state: Finance Minister
Union Finance Minister Nirmala Sitharaman on Friday said 31 people have died due to heavy rainfall in Tamil Nadu. She also said Centre has released Rs 900 crore funds for the state. Key Points
India TodayNBFCs need not go too far in their enthusiasm to lend: FM Nirmala Sitharaman
Speaking at the Digital Acceleration & Transformation Expo in the capital, organised by Trescon, the minister said: Enthusiasm is good but sometimes it becomes a bit too far for people to digest. So as a measure of caution the RBI (Reserve Bank of India) has also alerted small finance banks, NBFCs to be careful that they don't go too far too soon and face any downside risks later. Key Points
Economic TimesFM Nirmala Sitharaman says no income tax for people earning up to Rs 7.27 lakh per annum under new tax regime
Finance Minister Nirmala Sitharaman on Friday said the Narendra Modi government has provided several tax benefits to middle class people, including income tax exemption for those earnings up to Rs 7.27 lakh per annum. Key Points
The Tribune India
Northeast among biggest gainers of GST, says Finance Minister Sitharaman
Speaking at the Indian Institute of Technology in Guwahati, Sitharaman said the compounded annual growth rate (CAGR) of GST revenue of the north-eastern states has been 27.5% since its introduction in 2017-18. This was way above the CAGR of 14.8% under the earlier indirect tax regime. Elevated tax mop up has enabled these states to spend more on development programmes, she added. Key Points
Economic TimesMany countries want to start rupee trade with India: FM Nirmala Sitharaman
Many countries are attracted to trade with India in rupee due to its stable economy and strong fundamentals. India has opened all sectors for private investments and provided fiscal and policy support to AI, semiconductors, and manufacturing. The government has been responsive to challenges and focused on building a better future. Key Points
Economic TimesRobust tax mopup gives 433% boost to capex, says FM
Robust tax collections have increased capital expenditure and investment in infrastructure projects. Gross direct tax collections rose 16.77%, with expectations of further increase. Refunds worth ₹2.48 lakh crore were issued, and 1.66 crore income tax returns were processed in a day. Time for assessment reduced, faceless assessment introduced for transparency, and technology used to boost collections. Key Points
Economic TimesInflation within tolerance band; govt taking steps to check price rise: Nirmala Sitharaman
Finance Minister Nirmala Sitharaman stated that the government's efforts to control inflation have been successful, especially in perishable commodities. The Bhabha Atomic Research Centre (BARC) is collaborating with the government to extend the shelf life of onions through the use of gamma rays. The government has increased its buffer size of onions to 7 LMT to stabilize prices. Key Points
Economic TimesIndia Budget 2024: Key takeaways from Modi 2.0's last finance bill
India's interim Budget disappoints taxpayers with no changes to tax structure. However, the government focuses on fiscal consolidation, capital expenditure, and social welfare services. Finance Minister Sitharaman aims to reduce fiscal deficit to 4.5% of GDP by FY26. Revised fiscal deficit target is 5.8% of GDP for FY25. Here are the other top takeaways from the Interim budget Key Points
Economic Times
'Viksit Bharat' aim, 'golden moments in next 5 years', says interim Budget
Finance Minister Nirmala Sitharaman said the government was working to ensure India becomes a developed country by 2047. She said the government will initiate next-generation reforms to boost growth, adding that golden moments will be witnessed in the next five years. Key Points
India TodayBudget 2024: FM Nirmala Sitharaman hints at govt's four focus areas ahead of Feb 1
Union budget 2024: Finance Minister Nirmala Sitharaman has emphasised that the government's policies will prioritise the welfare of youth, women, farmers, and the poor in the upcoming interim Budget, to be presented in Parliament. She stated that the focus will be on uplifting these target groups without considering caste, community, or religion. Key Points
Economic Times