#sitharaman

[twominuts2]

Parliament Budget session LIVE updates: Contentious session expected as INDIA bloc MPs intend to demonstrate against the 'biased' Union Budget

Parliament had a tumultuous start on Wednesday as Opposition MPs staged a protest against the Budget. Members of the INDIA bloc claim that the Budget is unfair to States not governed by the BJP.

Union Finance Minister Nirmala Sitharaman on July 23 announced a series of initiatives aimed at addressing the challenges faced by unemployed youth, small businesses, and the middle class, while also seeking to bolster the ruling NDA coalition’s relationships by supporting various investment projects in Bihar and Andhra Pradesh. This Budget marks Ms. Sitharaman’s seventh consecutive Budget and the first by the BJP-led NDA government since its re-election in June.

Budget Highlights here

The BJP’s allies praised the Budget, but the Opposition was not happy, calling it an exercise in political jugglery to appease the Janata Dal (United) and Telugu Desam Party, the BJP’s two key allies, while doing little to address issues such as high rate of unemployment and inflation. 

[thegulfindians]

India working to rein in inflation: Sitharaman

NEW DELHI: Inflation in India is slightly above the “tolerance limit”, and the government is taking steps to control it, Indian Finance Minister Nirmala Sitharaman has said.  “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 on Saturday. India’s annual…

[publictaknews]

'FPOs come and go': Sitharaman on Adani row; Perception about India remains intact

Finance Minister Nirmala Sitharaman said on Saturday that foreign exchange reserves have increased by eight billion in the last two days amid the Adani crisis. “FPOs come and go. These ups and downs happen in every market. But the fact that we had 8 billion in the last few days proves that the perception about India and its underlying strength remains intact ,” said the Finance Minister while…

[usaitbari]

Sitharaman, 5 other Indians among Forbes' World's 100 Most Powerful Women | India News - Times of India

Sitharaman, 5 other Indians among Forbes’ World’s 100 Most Powerful Women | India News – Times of India

NEW YORK: Finance Minister Nirmala Sitharaman, Biocon Executive Chairperson Kiran Mazumdar-Shaw and Nykaa founder Falguni Nayar are among six Indians who have made it to the Forbes’ annual list of The World’s 100 Most Powerful Women. Ranked at number 36, Sitharaman has made it to the list for the fourth time in a row. In 2021, the 63-year-old minister was ranked at number 37 in the list, while…

[samvadprakriya]

एशियन इन्फ्रास्ट्रक्चर इन्वेस्टमेंट बैंक के संचालक मंडल की 7वीं वार्षिक बैठक में शामिल हुई वित्त मंत्री सीतारमण

एशियन इन्फ्रास्ट्रक्चर इन्वेस्टमेंट बैंक के संचालक मंडल की 7वीं वार्षिक बैठक में शामिल हुई वित्त मंत्री सीतारमण

नई दिल्ली, 28 अक्टूबर। केंद्रीय वित्त एवं कॉरपोरेट कार्य मंत्री श्रीमती निर्मला सीतारमण ने बुधवार को नई दिल्ली से वीडियो कॉन्फ्रेंस के माध्यम से एशियन इन्फ्रास्ट्रक्चर इन्वेस्टमेंट बैंक एआईआईबी) के संचालक मंडल (बोर्ड ऑफ गवर्नर्स) की 7वीं वार्षिक बैठक में भाग लिया। हर साल वार्षिक बैठक में एआईआईबी से संबंधित महत्वपूर्ण मुद्दों और इसके भावी विजन पर महत्वपूर्ण निर्णय लेने के लिए इसके संचालक मंडल की…

[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'.

[publictaknews]

Mumbai should like proposals: FM Sitharaman on Budget 2023

PTI | , Posted by Ritu Maria Johny Union Finance Minister Nirmala Sitharaman on Saturday said that the main focus of the FY24 budget presented by her recently is development. The budget proposals set out both fiscal consolidation and growth, especially inclusive growth, Sitharaman said during her first interaction with stakeholders outside the national capital since presenting the budget on…

[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.