#Sitharamans

[publictaknews]

'World should welcome this': Jaishankar tweets on FM Sitharaman's Budget 2023

Union External Affairs Minister S Jaishankar on Wednesday appreciated the Union Budget presented by Finance Minister Nirmala Sitharaman. In a series of tweets, Jaishankar supported the Narendra Modi government’s last full budget before the 2024 Lok Sabha elections, saying the world should welcome it. Here are the 10 points listed by the External Affairs Minister in his tweet thread:- 1. “India as…

[bhaskarlive]

Nirmala Sitharaman to make history with her 7th Budget, surpasses Morarji Desai

Union Finance Minister Nirmala Sitharaman is set to make history by presenting her seventh consecutive Budget on Tuesday, surpassing the record of former Prime Minister and Finance Minister Morarji Desai.

Sitharaman, who holds the record for the longest budget speech delivered on February 1, 2020, which lasted two hours and 40 minutes before being cut short, will now also hold the record for the maximum consecutive budget presentations.

Source: bhaskarlive.in

[god-fi-dence]

"Tax Pinch for India's Middle Class: Can the Upcoming Budget Bring Relief"​

[wordexpress]

Nirmala Sitharaman's prediction for India's economy as IMF cuts global growth

Nirmala Sitharaman said growth will be among the top priorities of the Narendra Modi government and attention will be paid to sustaining the momentum that the Indian economy has got coming out of the Covid-19 pandemic.

Union finance minister Nirmala Sitharaman, who is in the US to attend the annual meetings of the International Monetary Fund (IMF) and the World Bank, on Tuesday forecasted India’s growth rate to be around 7 per cent this financial year.

Sitharaman said growth will be among the top priorities of the Narendra Modi government and attention will be paid to sustaining the momentum that the Indian economy has got coming out of the Covid-19 pandemic.

Her statement comes even as the IMF, in its latest projection, predicted India’s GDP growth to be 6.8 per cent — down from a January projection of 8.2 per cent and in July estimate of 7.4 per cent. However, despite the slowdown, India would remain the fastest-growing major economy.

The IMF said on Tuesday global growth is expected to slow further next year, downgrading its forecasts as countries grapple with the fallout from Russia’s invasion of Ukraine, spiraling cost-of-living and economic downturns.

The world economy has been dealt multiple blows, with the war in Ukraine driving up food and energy prices following the coronavirus outbreak, while soaring costs and rising interest rates threaten to reverberate around the globe.

“I am aware that growth forecasts around the world are being revised lower. We expect India’s growth rate to be around 7 per cent this financial year. More importantly, I am confident of India’s relative and absolute growth performance in the rest of the decade,” she said addressing a gathering in Washington.

Sitharaman, however, observed that the Indian economy is not exempt from the impact of the world economy. “No economy is,” she said.

“After the unprecedented shock of the pandemic, came the conflict in Europe with its implications for energy, fertiliser and food prices. Now, synchronised global monetary policy is tightening in its wake. So, naturally, growth projections have been revised lower for many countries, including India. This triple shock has made growth and inflation a double-edged sword,” Sitharaman said.

After the Russia-Ukraine conflict started in February 2022, there was a sharp increase in food and energy prices. India had to ensure that the rising cost of living did not lead to lower consumption through erosion of purchasing power.

“We addressed these multiple and complex challenges through a variety of interventions. One, India ramped up its vaccine production and vaccination. India has administered over 2 billion doses of vaccine produced domestically. Two, India’s digital infrastructure ensured the delivery of targeted relief Third, in 2022, after the conflict erupted in Europe, we ensured adequate availability of food and fuel domestically, lowered import duties on edible oil and cut excise duties on petrol and diesel. The central bank has acted swiftly to ensure that inflation did not get out of hand and that currency depreciation was neither rapid nor significant enough to lead to a loss of confidence,” the minister said.

Sitharaman said India is discussing with different countries to make Rupay acceptable in their nations.

“Not just that, the UPI (Unified Payments Interface), the BHIM app, and NCPI (the National Payments Corporation of India) are all now being worked in such a way that their systems in their respective country, however, robust or otherwise can talk to our system and the inter-operability itself will give strength for Indians expertise in those countries,” she said.

[dainikdangal]

NPS Vatsalya Yojana: निर्मला सीतारमण 18 सितंबर को करेंगी शुरुआत, जानें लाभ और पात्रता

वित्त मंत्री निर्मला सीतारमण 18 सितंबर को ‘एनपीएस-वात्सल्य योजना’ (NPS Vatsalya Yojana) की शुरुआत करने जा रही हैं। यह योजना राष्ट्रीय पेंशन प्रणाली (NPS) के तहत एक नई पहल है, जिसका उद्देश्य देश के नागरिकों को सुरक्षित और सुनिश्चित भविष्य प्रदान करना है। इस योजना से वे लोग भी लाभान्वित होंगे, जो अपने रिटायरमेंट के लिए एक स्थिर और दीर्घकालिक निवेश विकल्प की तलाश कर रहे हैं। योजना का उद्देश्य NPS…

[rightnewshindi]

निर्मला सीतारमण का बड़ा झटका, Debit Card, Credit Card व नेट बैंकिंग से पेमेंट करने पर लगेगा 18 फीसदी जीएसटी

निर्मला सीतारमण का बड़ा झटका, Debit Card, Credit Card व नेट बैंकिंग से पेमेंट करने पर लगेगा 18 फीसदी जीएसटी #News #Finance

Delhi News: GST Council की बैठक सोमवार को वित्त मंत्री निर्मला सीतारमण की अध्यक्षता में हो रही है. इस बीच सबसे अधिक चर्चा डेबिट और क्रेडिट कार्ड से 2,000 रुपये तक के छोटे ऑनलाइन ट्रांजैक्शन के लिए बिलडेस्क और सीसीएवेन्यू जैसे भुगतान एग्रीगेटर्स पर 18% GST लगाए जाने को लेकर होने वाले ऐलान पर नजर थी. लेकिन इसे लेकर कोई फैसला नहीं लिया जा सका है और इस मामले को फिलहाल फिटमेंट कमेटी के पास भेज दिया…

[pebblegalaxy]

Comparing the Economic Legacy of Finance Ministers P. Chidambaram and Nirmala Sitharaman: A Decade of Transformation

A Comparative Analysis of Finance Ministers: P. Chidambaram vs. Nirmala Sitharaman Introduction The role of a finance minister in any country is pivotal, determining the trajectory of economic growth, fiscal stability, and overall national prosperity. India, being one of the largest economies in the world, has seen significant changes under the stewardship of different finance ministers. Two…

[news-venue]

Nirmala Sitharaman To Move Banking Laws Amendment Bill In Lok Sabha Today

Union Finance Minister Nirmala Sitharaman will today move the Banking Laws (Amendment) Bill in the Lok Sabha, which seeks to amend the Reserve Bank of India Act, 1934, the Banking Regulation Act, 1949, the State Bank of India Act, 1955, the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980.

Union Ports, Shipping and Waterways Minister Sarbananda Sonowal will introduce the Carriage of Goods by Sea Bill and the Bills of Lading Bill.

The first bill seeks to provide for the responsibilities, liabilities, rights and immunities attached to carriers with respect to the carriage of goods by sea and for matters connected therewith or related thereto. While the Bills of Lading Bill seeks to make provisions for the "transfer of rights of suit and all liabilities to the consignee named in a bill of lading and every endorsee of a bill of lading, to whom the property in the goods mentioned in the bill of lading shall pass, upon or by reason of a consignment or an endorsement, and for matters connected therewith or related thereto".

According to the revised list of business, Railways Minister Ashwini Vaishnaw is slated to introduce a bill further to amend the Railways Act, 1989, in the Lower House.

The Lok Sabha session on the day will start with obituary references to passing away of Iqbal Ahmed Saradgi (Member, Thirteenth and Fourteenth Lok Sabhas); Sqn. Ldr. Kamal Chaudhry (Member, Eighth, Ninth, Tenth and Twelfth Lok Sabhas); and Ramesh Rathod (Member, Fifteenth Lok Sabha).

Meanwhile in the Rajya Sabha, Mr Vaishnaw, who is also Union IT Minister, will make a statement regarding the status of implementation of recommendations contained in the 48th Report of Parliamentary Standing Committee on Communications and Information Technology on 'Citizen's Data Security and Privacy'.

Union MoS L. Murugan will make a statement on the status of implementation of recommendations contained in the 27th Report of the Parliamentary Standing Committee on Communications and Information Technology on 'Ethical Standards in Media Coverage'.

He will also make statements on the status of implementation of recommendations contained in the 47th Report of the Parliamentary Standing Committee on Communications and Information Technology on 'Review of functioning of Central Board of Film Certification (CBFC)'.

Similarly, Union MoS Ravneet Singh is slated to make a statement regarding status of implementation of recommendations contained in the 67th Report of the Parliamentary Standing Committee on Agriculture, Animal Husbandry and Food Processing on 'Scheme for Creation/ Expansion of Food Processing and Preservation Capacities – An Evaluation'.

[citizenrecord]

"Save As Much As ₹ 17,500": Finance Minister on New Tax Regime Slabs

Standard deduction in the new tax regime will be increased from ₹ 50,000 to ₹ 75,000, Finance Minister Nirmala Sitharaman said Tuesday as she announced the 2024 Union Budget.

Ms Sitharaman also announced revisions to tax slabs in the new regime. As a result, the Finance Minister told Parliament, salaried employees can save as much as ₹ 17,500 in the new regime.

It will also, she said, provide salaried individuals with higher tax savings and more disposable income.

Existing new tax regime slabs (effective for FY 2023-24) were as follows:

Income up to ₹ 3 lakh - Nil Rs 3 lakh to ₹ 6 lakh - 5 per cent Rs 6 lakh to ₹ 9 lakh - 10 per cent Rs 9 lakh to ₹ 12 lakh - 15 per cent Rs 12 lakh to ₹ 15 lakh - 20 per cent Above ₹ 15 lakh - 30 per cent The increase in standard deduction was one of the most anticipated ahead of the budget speech.

Industry experts speculated this could double to ₹ 1,00,000, but Ms Sitharaman fell slightly short.

In addition, deduction on family pension for pensioners will be increased from ₹ 15,000 to ₹ 25,000.

These tweaks will bring relief for around four crore salaried individuals and pensioners, she said.

Changes to income tax slabs, old and new, were in focus ahead of Ms Sitharaman's speech as the country's mammoth middle class clamoured for relief from tax burdens. There was little joy for the middle class in the interim budget - which pegged gross tax revenue at ₹ 38.31 lakh crore for 2024-25, an 11.46 per cent growth over the last fiscal - so all eyes were on the Finance Minister today.

Ms Sitharaman, however, had to walk a tight rope as she looks to stimulate growth and provide relief.

Another big expectation was a hike in exemption limit. Under the new regime, those earning under ₹ 3 lakh a year are exempt from paying tax. There was speculation this could be raised to ₹ 5 lakh.

There was, however, no such announcement.

There was also no changes announced for tax slabs under the old regime. This is amid speculation the government plans to do away with this option for next year.

The Finance Minister also announced a comprehensive review of the Income Tax Act of 1961, which will make it easier to read and understand, and reduce uncertainty and potential for litigation.

This will be completed in six months.

As part of this overhaul, Ms Sitharaman said tax authorities could only re-open assessments within three years from end of assessment and if the escaped income is ₹ 50 lakh and over.

Even then, the time limit for search cases is to be reduced from 10 years to six before year of search.

"A beginning is being made in the Finance Bill by simplifying the tax regime for charities, TDS rate structure, provisions for reassessment and search provisions and capital gains taxation," she said.

As per the proposal, two tax exemption regimes for charities will be merged into one.

The five per cent TDS, or Tax Deducted at Source, rate is being merged into the two per cent rate and the 20 per cent rate on repurchase of units by mutual funds, or UTI, is being withdrawn, she said.

The TDS rate on e-commerce operators will be reduced from one to 0.1 per cent, she added.

Also, Ms Sitharaman said she proposed to decriminalise delay for payment of TDS, or Tax deducted at Source, up to the due date of filing the concerned statement.

[publictaknews]

Union Budget 2023: Read Nirmala Sitharaman's full speech here

Union finance minister Nirmala Sitharaman presented the Union Budget 2023-24 in the Parliament on Wednesday. Read the full speech here: Also read: Sitharaman outlines 7 priorities of Budget 2023, calls them ‘Saptrishi’ Hon’ble Speaker, I present the Budget for 2023-24. This is the first Budget in Amrit Kaal. This Budget hopes to build on the foundation laid in the previous Budget, and the…

[bhaskarlive]

Finance Minister Sitharaman to launch new pension scheme ‘Vatsalya’ for children today

Finance Minister Nirmala Sitharaman will launch the New Pension Scheme (NPS) ‘Vatsalya’ on Wednesday here, which will be joined by school children, according to an official statement from the Ministry of Finance.

Announced in the Union Budget 2024, the scheme will allow parents to contribute a certain amount on behalf of their children towards National Pension Scheme (NPS) to secure their future and help them develop a retirement fund.

Source: bhaskarlive.in

[thehansindiaseo]

Gadkari's Propsal to remove GST on Insurance gets all round support

In Today's senerio Insurance is most valuable thing for any family and individual, by this anyone can save himself and his/her family from any unfortunate in a good manner

[targetstudy]

Budget 2024 Highlights, New Tax Regime Slabs, Income Tax & More

This is the Interim budget 2024 which is presented by Finance Minister Nirmala Sitharaman. Nirmala Sitharaman presented her 7th budget in parliament.

In the budget 2024, which came just after the election results, the government has also paid the price for the ‘support’ of the allies. Special packages were given to the Bihar government and the Andhra Pradesh government.

At the same time, new employment opportunities have been opened to address the discontent among the youth who expressed their dissatisfaction in the Lok Sabha elections.

However, by increasing the capital gains tax on stock market investors, the burden on the middle class, already suffering from inflation, has been increased further.

In the new tax system, a slight relief has been provided by increasing the standard deduction from ₹50,000 to ₹75,000. Additionally, changes have been made to the income tax slab.

READ MORE: Budget 2024 Highlights, New Tax Regime Slabs, Income Tax & More

[mitsde123]

Nirmala Sitharaman Budget 2024 Highlights

The Budget 2024 demonstrates a strong focus on fostering employment and enhancing the educational landscape in India. With new employment-linked incentives and a substantial allocation for education, employment, and skill development, the government aims to build a more robust and skilled workforce. These measures are expected to have a long-term positive impact on the country’s economy and provide better opportunities for the youth