Nirmala Sitharaman News

The Indian government is considering to lower certain personal income tax rates, multiple government officials were quoted as saying by Moneycontrol.

With the dawn of Modi 3.0, all eyes are eagerly set on the upcoming Union Budget of 2024, slated for presentation in July. Anticipation runs high among industries, farmers, taxpayers, and the middle class alike, as they await potential boosts and tax reliefs from Finance Minister Nirmala Sitharaman. 

Modi 3.0 Budget 2024: Finance Minister Nirmala Sitharaman will present the first budget of Modi 3.0 government in the second half of July. Industries, farmers and other stakeholders across sectors are eagerly anticipating potential booster announcements from the Narendra Modi government in the upcoming budget. Among these hopeful groups are taxpayers also, who are particularly expecting relief from the Finance Minister in form of tax sops. The middle-class, in particular, has not seen significant tax reductions in the last two budgets.

Also Read: Union Budget 2024: Finance Minister Nirmala Sitharaman to break Morarji Desai's THIS recordThe Indian economy is projected to grow 7.2 per cent in FY25 on the back of improving rural demand and moderating inflation, according to recent estimates by the Reserve Bank of India (RBI). The Modi 3.0 government inherits a strong economy with fiscal prudence in place with a special advantage as the RBI had announced the highest-ever dividend of ₹2.11 lakh crore for FY24.The key policy priorities for the third term of Prime Minister Narendra Modi-led government would include dealing with food inflation, unemployment, stress in the agriculture sector, job creation, sustaining capex momentum and pushing revenue growth to stay on the fiscal consolidation path.Rating agency S&P has maintained a positive stance on the economic policies followed by the Modi regime in the past 10 years.

Finance Minister Nirmala Sitharaman is expected to present the maiden budget of the Modi 3.0 government in the third week of July. The finance minister, who will be presenting her sixth straight full-fledged Union Budget next month, is expected to announce tax changes in the form of new deductions and exemptions within the new tax regime, according to experts, as they do not see the government revisiting tax slabs or introducing any new changes in the old tax regime.

Union Budget 2024 likely to be tabled in Parliament by third week of JulyAdditionally, a meeting of the Goods and Services Tax (GST) Council, chaired by Union Finance Minister Nirmala Sitharaman, is scheduled for June 22 in the national capital. This will be the Council's first meeting since their last gathering in October 2023.“We expect the new Finance Minister to focus on key areas that will help SME to strengthen enterprise security - Protect MSMEs from external risks such as cybersecurity threats, economic shocks, and supply chain disruptions.

Modi 3.0: As Nirmala Sitharaman back on FM's chair, share market pundits bet on…Experts say it is almost evident that the ultra-low rate regime of the pre-pandemic era may not return. What should be the investment strategy during an elevated rate regime?Mint consulted experts for their insights on investment strategies during an elevated rate regime. Here’s what they shared:Hajra said in a high-interest-rate environment, a greater allocation to fixed income over equity assets is advisable.

Union Budget 2024-25 has commenced after Finance Minister Nirmala Sitharaman directed the officials to initiate the process, emphasizing the need for meticulous planning and comprehensive analysis. The Union Budget is likely to be tabled in Parliament by the third week of July. Sitharaman who had retained Finance Ministry will be presenting her sixth budget by mid-July. After taking charge, the Finance Minister announced that the Modi govt intends to move on the reforms path to boost macroeconomic stability and growth. The Budget will also incorporate elements of the 100-day plan that PM Narendra Modi had asked his team of officers to prepare. The idea is to use the inputs and then set the agenda for the next 12 months as also for 2030 and 2047, when govt expects India to be a developed country.

Nirmala Sitharaman on Wednesday said the reforms momentum will continue, which will spur growth and ensure macro-economic stability, presenting an “optimistic economic outlook” for the coming years.

PMAY) is expected to boost the supply of much-needed affordable housing and move closer to the vision of housing for all.

NEW DELHI:Law and justice minister Arjun Ram Meghwal began a review of the litigation system in India to collate stakeholder opinions and reduce pendency of government lawsuits under a new National Litigation Policy as his first task after taking office on Tuesday.He told the media the three new criminal laws would be enforced on 1 July as planned, and that his ministry would focus on arbitration to increase ease of doing business.Meghwal is one of five ministers of state with independent charge in Prime minister Narendra Modi's new Cabinet, and makes a comeback to the ministry of law and justice for his second stint. Meghwal met senior officials in the department of legal affairs, the legislative department, and the department of justice after he addressed the media about the law ministry's plan for the first 100 days after coming into power.Also Read: Modi 3.0 Cabinet: From Amit Shah, Nirmala Sitharaman, Jaishankar to Rajnath Singh – 10 ministers who retained portfoliosThe law minister said he had signed a policy paper on the long-awaited National Litigation Policy, which would include the opinions of all stakeholders including litigators and litigants.The policy would address issues of litigants such as high legal costs, lack of access to legal appeals, and pendency of lawsuits in courts.

Modi 3.0 Cabinet: Nirmala Sitharaman retains finance ministryMany experts rate Sitharaman's first term as remarkable as she managed to keep the Indian economy firmly on the growth path amid a testing time."The Finance Minister's first term can definitely be rated 8/10 given the challenges faced on the macroeconomic front, both at the domestic and the global front, in terms of tackling inflationary pressures while, at the same time, ensuring growth remains a priority," said Aamar Deo Singh, Sr. Vice President, Research, Angel One.Also Read: Mint Explainer: Key policy changes in Nirmala Sitharaman’s first stint as FMMacro stability is what the market wants, and Sitharaman can deliver on that, say experts."Nirmala Sitharaman's first term as Finance Minister demonstrated a commendable balance between fiscal prudence and economic stimulus, especially amidst the unprecedented challenges of the COVID-19 pandemic.

Modi 3.0 Cabinet: From Amit Shah, Nirmala Sitharaman, Jaishankar to Rajnath Singh – 10 ministers who retained portfolios"All solutions to electoral losses need not be translated into populism and away from a macro framework built over the last decade. We expect the government to remain fiscally prudent and populism to be used opportunistically," Kotak said.Prime Minister Narendra Modi was sworn in as prime minister for the third consecutive term on Sunday, June 9, along with his 71 ministers.

Nirmala Sitharaman, in her second term as finance minister, hit the ground running on Monday. Instead of one, she released two tax devolution instalments — totalling ₹1,39,751 crore — to 28 states, for bolstering their development and capital spending. The minister earlier reviewed the economic and fiscal situation of states with finance secretary TV Somanathan and economic affairs secretary Ajay Seth, soon after the first meeting of the newly formed Cabinet on Monday evening.

Narendra Modi preferring continuity in policy, Finance Minister Nirmala Sitharaman is likely to lay out the government's economic agenda when she presents the first annual budget of Modi 3.0 next month. Her task is cut out as she will have to look at measures to boost growth without hurting inflation as well as look for resources to meet the coalition government's compulsion.

Modi 3.0 Government- who gets what – LIVE UpdatesPrime Minister Narendra Modi's top four ministers -- Amit Shah, Rajnath Singh, Nirmala Sitharaman and S Jaishankar – retained their respective home, defence, finance and external affairs portfolios, according to an official statement.Modi's newly formed coalition government has reinstated Nirmala Sitharaman as India's Finance Minister, ensuring policy consistency in one of the globe's rapidly advancing economies. Additionally, Sitharaman will assume responsibility for the Corporate Affairs Ministry, as per an announcement from the President's office on Monday.Senior BJP leader Nitin Gadkari, popularly referred to as the 'Highway Man of India', has been appointed the Road Transport and Highways Minister for the third consecutive term in the newly formed Union Cabinet of the Prime Minister Narendra Modi-led NDA government, an official statement said on Friday.S.

Modi 3.0 Cabinet LIVE updatesOne of Anurag Thakur's portfolio in Modi 2.0 Cabinet was Youth Affiars and Sports. Dr.

portfolios to several elected Lok Sabha members of the Bharatiya Janata Party (BJP) for Modi 3.0. Notable leaders such as Amit Shah, Rajnath Singh, Nirmala Sitharaman, and S Jaishankar have retained their key portfolios from Modi government 2.0, ensuring continuity and stability in key ministries.

Karnataka Home Minister G Parameshwara on Monday slammed the newly-minted central government, accusing the NDA 3.0 regime of “neglecting” backward classes and Dalit communities while picking MPs from the state for the union council of ministers.

Council of Ministers: Rajnath Singh, Amit Shah, Nitin Gadkari, JP Nadda, Shivraj Singh Chauhan, Nirmala Sitharaman, S Jaishankar; ML Khattar, HD Kumaraswamy, Piyush Goyal, Dharmendra Pradhan, Jitan Ram Manjhi, Rajeev Ranjan Singh, Sarbananda Sonowal and Dr Virendra Kumar among others took oath.Members from allies sworn-inJD(S) leader H D Kumaraswamy, HAM (Secular) chief Jitan Ram Manjhi, JD(U) leader Rajiv Ranjan Singh 'Lalan', TDP's K Ram Mohan Naidu and LJP-RV leader Chirag Paswan took oath as Cabinet ministers.

as per the government.The Council of Ministers in Modi 3.0 has 13 members from the Rajya Sabha, while 57 are newly-elected MPs from the Lok Sabha. Two of the new ministers of state – Ravneet Singh Bittu and George Kurian – are not members of either Lok Sabha or Rajya Sabha and are required to become a member of Parliament within six months of their oath-taking.Of the total 31 cabinet ministers, including PM Modi, as many as eight are Rajya Sabha members.