Nirmala Sitharaman News

Nitin Gadkari has urged finance minister Nirmala Sitharaman to withdraw the 18% goods and services tax (GST) on life and medical insurance premiums.

Congress «propaganda» for deterring private investment is «sheer desperation», the party said on Thursday while hitting out at Finance Minister Nirmala Sitharaman for her remarks attacking the opposition. In an apparent attack on the Opposition, Sitharaman said conspiracy is being carried out to damage India's image and give a message to foreign investors that the country is not safe for investment.

farmers, Finance Minister Nirmala Sitharaman today said that the party junked the MS Swaminathan's report on MSP. Citing UPA government's Cabinet note, she said that the report was rejected as it could have 'distorted the market'.

Union Budget 2024 infuses in itself everything that would lead India to the path of becoming 'Viksit Bharat', Union Finance Minister Nirmala Sitharaman said as she answered the questions raised by the Opposition INDIA bloc in Lok Sabha on Tuesday.

MUMBAI : Shortly after the Union finance minister Nirmala Sitharaman presented the budget 2024 on 23 July, executives of a foreign investors-backed asset management company rushed to New Delhi to seek clarification on a key issue: Can foreigners invest in India through a mutual fund-like structure with zero tax? The answer is yes as long as the money is not directly invested in equities. The Union Budget 2024-25 proposed that “retail schemes and exchange-traded funds (ETFs) set up in Gujarat International Finance Tec-City, or GIFT City, will now enjoy tax exemptions along similar lines as available to specified funds". "Now retail funds in GIFT will get the same tax benefit like category III Alternative Investment Funds (AIFs)," said Suresh Swamy, partner, Price Waterhouse & Co.

India is moving towards a new fiscal policy framework. Finance minister Nirmala Sitharaman said in the Union budget announced earlier this month that after 2025-26, the government will try to keep the fiscal deficit at a level “such that the central government debt will be on a declining path as a percentage of GDP." What does this mean? India currently has a fiscal law that expects the Union government to keep its annual fiscal deficit below 3% of gross domestic product (GDP).

Viksit Bharat: A Post Union Budget 2024-25 Conference at New Delhi’s Vigyan Bhawan on Tuesday at 12pm.

Can India achieve the government's target of achieving $10 trillion GDP by 2030? Given that we are yet to hit $4 trillion, only $8 trillion is plausible by 2030, says Nilesh Shah, MD, Kotak AMC, in a post-Budget interaction with Mint. He believes finance minister Nirmala Sitharaman achieved the trinity of impossible of fiscal consolidation, investment and job creation. It should lead to the country's credit upgrade, he says. Shah adds that hiking the security transaction tax (STT) on futures and options (F&Os) is a step in the right direction. Edited excerpts:

budget will help keep its growth outlook healthy, said World Bank chief economist Indermit Gill, flagging the reduction in public debt as a key focus area for the government, along with putting education in mission mode. He noted that India has done a good job of making sure the fiscal deficit is reduced from last year.

Congress leader Rahul Gandhi was misleading the nation on the sensitive issue of national security and the Agnipath initiative and added that he was ready to make a statement in this regard in Parliament. Speaking in the Lok Sabha shortly after Gandhi's remarks on the Union budget, the defence minister said the opposition leader had tried to spread a lot of misconceptions about the budget and Union Finance Minister Nirmala Sitharaman would provide clarification when she replied to the debate.

Nirmala Sitharaman on Sunday said the budget proposals will spur job creation, encourage investments in startups, leave more money with the middle class, ease credit flow to small and medium businesses, and keep up the thrust on infrastructure creation to boost economic growth.

Jual Oram on Sunday said the Centre will consider demands for greater empowerment of the Autonomous District Councils (ADCs) in the Northeast. Recently, ADC chiefs of the state along with Tipra Motha supremo Pradyot Kishore Manikya Debbarma met Union Home Minister Amit Shah to request increased autonomy and financial control for the tribal councils.

Jairam Ramesh said, «Yesterday, the self-anointed non-biological Prime Minister said that Viksit Bharat depends on Viksit states. Wow, such a profundity. If only he put the taxpayer's money where his mouth is!»

gold prices have shown ferocious moves compared to equities. Investors and traders need to be calculative while making investment decisions at this time. Gold had given 16% return in year-to-date 19 July 2024, compared to the 14% return given by the Nifty 50 index – the most widely tracked gauge of stock market performance. However, Union Finance Minister Nirmala Sitharaman announced a sharp cut in import duties to 6% from 15% earlier on gold, in Union Budget 2024. This pulled down the price of yellow metal. Compared to Rs 72,718 per 10 gram on MCX on 22 July 2024 the gold prices went down to Rs 68,510 by end of 23 July 2024 – the day of budget announcements, and then went to hit a low of Rs 67,462. Equities on the other hand tanked for a while due to increase in taxation of capital gains, but quickly recovered to go higher. These price gyrations baffled many investors. A look at the drivers of price change however should help to take a more informed decision.

Nirmala Sitharaman, through the Union Budget 2024, has introduced a significant amendment for those planning to move abroad from India. This new provision mandates that individuals domiciled in India must clear all tax dues and obtain 'clearance certificates' before leaving the country. However, the government has clarified that, the proposed amendment does not require every person to obtain a tax clearance certificate.

Nilesh Shah reportedly urged Union Finance Minister Nirmala Sitharaman to keep a watchful eye on any surge in India's gold import bill in the wake of the customs duty cut and rising international prices.

cut prices across its entire line of iPhones by three to four per cent. This change is expected to benefit customers purchasing Pro and Pro Max models, who can save between ₹5,100 and ₹6,000.

Nirmala Sitharaman who presented the Union Budget recently asserted that she can make savings easier for those residing in rural areas through rate rationalisation.

Gold prices have corrected sharply by 7 per cent or Rs 5,000 per 10 grams in the local markets after the government slashed basic custom duty on gold, and the lower costs will encourage more people to invest in the yellow metal, both as a commodity and as a financial asset, experts say. Analysts said customs duty cut has made gold imports cheaper. The move will help curb the rampant issue of gold smuggling, leading to growth in the organised jewellery sector.

indexation benefits on realty sales. However, Finance Minister Nirmala Sitharaman told ET in an interview that those who are criticising the move are missing the larger picture.

It’s the season of clear targets, quick wins and instant applause, as the Olympics of 2024 kick off in Paris, a city aflutter with flags bearing their famous ‘rings of unity.’ Among other virtues, the Olympic Games offer us a contrast with economic frames, which have complex targets, slow wins and patchy applause. So much so that our heads can begin to spin if rings get run around what’s good for the economy, as if the data overload of every budget is not heavy enough.