Nirmala Sitharaman News

Finance Minister Nirmala Sitharaman says: “Whether it is aimed at employment or not, it is certainly aimed at helping the MSMEs and the small ticket loan seekers. The small ticket loan seekers are the people who cannot give collaterals at all. We had extended a lot of help for them.” Excerpts from the interview

ANI reported that the BJP formed the Election Manifesto Committee, comprising 27 members. Defense Minister Rajnath Singh was appointed as the chairman of this committee.Meanwhile, Union Finance Minister Nirmala Sitharaman was appointed as the coordinator, and Union Minister Piyush Goyal was made the co-coordinator.

MUDRA) scheme will be hiked by 100 per cent if the Bharatiya Janata Party is voted back to power, the party said while announcing its manifesto on Sunday. «The BJP has decided to raise loan limit under Mudra scheme to Rs 20 lakh from Rs 10 lakh,» Prime Minister Narendra Modi announced. The scheme was launched eight years ago in April 2015 by PM Modi in order to facilitate collateral-free credit of up to Rs 10 lakh to non-corporate, non-farm small and micro-entrepreneurs.

Bharatiya Janata Party (BJP) is scheduled to unveil its election manifesto, known as the "Sankalp Patra," on April 14 in the presence of Prime Minister Narendra Modi, BJP President JP Nadda, Home Minister Amit Shah, and Defense Minister Rajnath Singh, according to sources. The manifesto committee, chaired by Defense Minister Rajnath Singh, has already held two meetings. The BJP has received over 1.5 million suggestions for its manifesto, including more than 400,000 through the NaMo app and over 1.1 million through videos. According to party sources, the BJP's manifesto will focus on development, a prosperous India, women, youth, the poor, and farmers. The party pledges to fulfil only those promises that are achievable. The theme of the manifesto will be «Modi's Guarantee: Developed India 2047,» with a focus on cultural nationalism.

‘India's map will change': Sitharaman's husband warns against Modi's re-election "All that a political party needs to do to remain out of the tax net is to file an assessment...You have not followed the rule of law or the law of the land, and you expect to be treated differently," she said. Sitharaman also responded to questions about AAP supremo Arvind Kejriwal's arrest. "Didn’t the Prime Minister, then the Chief Minister, appear before the CBI just before the Gujarat elections? He went and answered all the questions.

IFCI) and launch of the initial public offer (IPO) for India Infrastructure Finance Company Ltd (IIFCL) within weeks of new government taking charge. In the first 100 days, privatization of two PSBs, which has been on the back burner, may be revisited and plans laid out for stake sale in more than one general insurer, and possible merger of two or three general insurance companies after recapitalization, said the second person. Also planned is further consolidation of PSBs to create at least one mega-bank in the short-term.

If ever there was a case for the Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) to present a straight bat, and not attempt any theatrics, Friday, 5 April 2024, was the day. With the economy doing well, inflation down, if not out, and general elections looming ahead, it made no sense to rock the boat.

Karnataka Chief Minister Siddaramaiah on Sunday alleged that Union Finance Minister Nirmala Sitharaman lied when she said that the drought relief fund was not released because the Model Code of Conduct is in force. Speaking to reporters on Saturday, Sitharaman sought to defend the Centre saying procedures to release funds had taken time by which time the MCC came into effect. She said that after the Karnataka government submitted a memorandum in October and the inter-ministerial central team conducted a spot assessment, the release of drought relief had to go through a few procedures and that it had taken time. According to the finance minister, the central authorities had written to the Election Commission on March 28 to get prior approval to convene a high-level committee, given that the Model Code of Conduct in force — and the EC's approval is awaited with regard to the grant of drought relief.

income tax regime becoming the default option since FY 2023-24, taxpayers must comprehend the applicable income tax rates and slabs. Earlier on April 1, the Finance Ministry addressed confusion surrounding the new tax regime through a post on X (formerly Twitter).

A heady air of mutual—and self— congratulation hovered over the Reserve Bank of India’s (RBI) 90th-year celebration held on 1 April. It was almost palpable in the speeches made.

RBI Celebrates 90 Years: Prime Minister Narendra Modi on April 1 praised the widespread adoption of UPI and stressed the importance of the Reserve Bank of India (RBI) focusing on promoting digital transactions and financial inclusion over the next decade. The prime minister was delivering the keynote address at the central bank's 90th anniversary event today in Mumbai. Also present were RBI Governor Shaktikanta Das and Finance Minister Nirmala Sitharaman.

₹500 crore, aims to promote the purchase of electric two-wheelers (e2W) and three-wheelers (e3W) across the country. Also Read | How green energy makes us vulnerable to cyberattack The EMPS scheme aims to support 3,72,215 electric vehicles across the country, including e2W and e3W vehicles.

Read the full story here.)Sensex Today Live : According to ANI, oil marketing companies (OMCs) in India have reduced the prices of 19 kg commercial cylinders and 5 kg Free Trade LPG (FTL) cylinders. The price reduction for the 19-kg commercial cylinders is ₹30.50, bringing the price in Delhi to ₹1,764.50 as of April 1.

It was in 1867 under the British Raj that India adopted a fiscal year starting 1 April, when James Wilson was finance minister. Not only was the date arbitrary, so was annual accounting, drawn as it was from agriculture. Although other institutions traceable to early farming—like patriarchy—have been challenged, the idea of an annual reckoner has endured for centuries with little resistance.

Finance minister Nirmala Sitharaman has hinted that India’s economy will see gross domestic product (GDP) expand 8% or more in the three months ended 31 March. “Hopefully, the fourth quarter… will also have (growth of) 8% or above 8%, resulting in 2023-24 having an average growth in GDP of 8% or over 8%," she said at a Mint summit on Saturday. This sends an optimistic signal on our post-pandemic growth momentum.

BJP's manifesto committee for the upcoming Lok Sabha elections, the party has kickstarted the process for its preparation, which is likely to showcase the roadmap for a 'Viksit Bharat' (developed India), and will hold its first meeting on Monday. The 27-member manifesto committee led by senior BJP leader and Union defence minister Rajnath Singh has 11 ministers besides four chief ministers of the party-ruled states. Union finance minister Nirmala Sitharaman has been appointed the convenor of the committee while Union commerce minister Piyush Goyal has been made the co-convenor. The manifesto committe also has one BJP leader each from minority communities — including Sikh, Muslim and Christian.

income tax return for financial year 2020-21 and realised that there were a few mistakes or omissions in that then today is the last date to file an updated return to incorporate the changes. Notably, the provision of filing an updated income tax return (ITR-U) was announced in Budget 2022 by Finance Minister Nirmala Sitharaman when she said that an updated return gives a one-time window to taxpayers to correct any discrepancy or omissions within two years of filing. Although for assessment year 2021-22 (i.e., financial year 2020-21), the last date to file an updated return is today i.e., March 31, 2024, whereas the taxpayers can also file an updated return for the subsequent assessment years of 2022-23 and 2023-24 also.

Kerala Finance Minister KN Balagopal said that the state government has successfully completed the payments even though there were financial constraints, including the row between the state and the union government. He visited the district treasury on the last day of the financial year. He said, «Today, I am happy that we have successfully completed the payments even though we have financial constraints like the Supreme Court case is going on, a lot of arguments between State and Union government is taking place. We are deprived of the state share, a due share from the Union government. However, we were able to make the payment of more than Rs 25,000 crores. Around Rs 26,000 we are expecting this month.»

Arvind Kejriwal's ED summon challenge was listed for April 24. Meanwhile the Income Tax Department has issued a demand notice of ₹1,823 crore to the Congress. A hostage drama in the Netherlands ended peacefully after several hours on Saturday afternoon.

MUMBAI : The Indian economy is expected to grow at 8% or above in the last quarter of the current financial year, leading to an equivalent growth for the whole of fiscal year 2024 (FY24), finance minister Nirmala Sitharaman said on Saturday. “Hopefully the fourth quarter (of FY24) which ends tomorrow will also have it in the range 8% or above 8%, resulting in 2023-24 having an average GDP growth of 8% or over 8% is what my expectation is," Sitharaman said in her keynote address at the Mint India Investment Summit 2024 here.

Bharatiya Janata Party has formed an election manifesto committee with Rajnath Singh as its chairperson, as the ruling party seeks to return to power in India for a third straight term. BJP has appointed Finance Minister Nirmala Sitharaman as the convener of the election manifesto panel, while her cabinet colleague and Trade Minister Piyush Goyal will be the co-convener. Nearly 97 crore eligible Indian voters will over six weeks and seven phases starting April 19 decide which political party will form the next government in the world’s largest democracy.