Nirmala Sitharaman News

BJP)-led government were about "reform, perform and transform" in the country. From abolishing triple talaq to abrogating Article 370 to introducing 33 percent women's reservation to building Ayodhya Ram temple — while emphasising some of his government's achievements, PM Modi said the 17th Lok Sabha saw a productivity of 97 percent. Besides this Lok Sabha Speaker Om Birla and Rajya Sabha Chairman Jagdeep Dhankhar delivered their valedictory remarks.

Ill-targeted reckless fiscal policy, ill-targeted subsidies, wasteful expenditure, all done for political gains," Nirmala Sitharaman said. Nirmala Sitharaman also accused the Congress-led UPA government of "forgetting" the Northeast.

Read more The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) on Thursday decided to keep its key policy rates unchanged for a sixth straight meeting. Shaktikanta Das-headed six-member MPC maintained the repo rate at 6.5% with five out of six members voting in favour of the rate decision. Read more The RBI projects a 7% real GDP growth for the upcoming financial year 2024–25 from the previous projection of 6.6%.

ANI. In the Parliament, Satyapal Singh who initiated the discussion on Ram Temple in Ayodhya said, “I am fortunate to get the opportunity to speak about the construction of Ram Temple in Ayodhya and the Pran Pratishtha of Lord Ram on 22nd January, inside the Parliament.

Nirmala Sitharaman tore into the previous Congress-led United Progressive Alliance (UPA) government on Friday, saying it pushed the country into the Fragile Five and left it in dire straits in 2014 with its economic mismanagement by putting the «first family» first. During the UPA regime, the security of the nation was compromised, environmental clearances were delayed, and the leadership failed as it was run by a «super prime minister» and there was at least one big-ticket corruption case every year. Initiating the debate on the 'White paper on Indian economy and its impact on the lives of people of India', Sitharaman said it was Prime Minister Narendra Modi who put the nation first, pulling the country out of crisis and placing it among the top five economies of the world.

The Reserve Bank of India (RBI) has kept the repo rates unchanged for the sixth time in a row at 6.5 per cent. The repo rate is the rate of interest at which RBI lends to other banks. The decision was made during the three-day RBI’s monetary policy committee which started on Tuesday (February 6-8). The RBI typically conducts six bi-monthly meetings in a financial year, where it decides interest rates, money supply, inflation outlook, and various macroeconomic indicators. 

Paytm founder and CEO Vijay Shekhar Sharma met Union Finance Minister Nirmala Sitharaman on Tuesday. The meeting comes amid reports of Sharma’s meeting with officials of the Reserve Bank of India on Monday. According to an NDTV report, the meeting between Sitharaman and Sharma concluded in 10 minutes. The report said that Sharma was told that he needs to sort out the regulatory concerns by the RBI. He was also told that the Narendra Modi government has no role in the current crisis.

NEW DELHI : The ruling National Democratic Alliance (NDA) government and the opposition Congress party locked horns on Thursday, over a paper tabled in the Lok Sabha by finance minister Nirmala Sitharaman accusing the previous United Progressive Alliance regime of undermining the country’s macroeconomic fundamentals, and the Congress hitting back at the government citing price rice and unemployment. The debate over the economic track record before and after 2014 highlighted major shocks that India’s economy underwent under both regimes, how the respective governments dealt with them, the effectiveness of the fiscal stimulus, given as well as the persisting issues of price rice and job creation not being commensurate with the demand from a large working age population.

A significantly large part of Finance Minister Nirmala Sitharaman’s interim budget speech last week was devoted to outlining the performance of the incumbent government. With general elections only months away, this was expected. And like a political speech, her delivery on 1 February highlighted an increase in the per capita income of Indians by more than 50% over the last decade, along with the government’s claim of about 250 million Indians having moved out of multidimensional poverty during the same period.

financial institutions (FIs) in the next financial year. In the interim Budget to be unveiled in the Lok Sabha on February 1 by Finance Minister Nirmala Sitharaman, sources said, the government would peg receipts from dividends from financial institutions at much higher level than Rs 48,000 crore estimated for the current fiscal. The current financial year estimate has already exceeded the Budget target as RBI paid a dividend of Rs 87,416 crore. With public sector banks and financial institutions posting good quarterly numbers during the current financial year, the dividend payout by them in the coming year would be higher compared to this year. So, it would be feasible to expect about Rs 70,000 crore as dividend payout from RBI and financial institutions in FY'25, sources said.

budget Finance Minister Nirmala Sitharaman will present on February 1. From cutting down subsidies to slowing down capital expenditure to control fiscal deficit to targeting different voter groups with welfare measures, Amid all the expectations and demands from the budget and speculation and expert commentary about what all the budget might contain, what Sitharaman herself has been saying recently, not necessarily related to the budget, can yield good pointers to the direction of the upcoming budget.

Minister of Parliamentary Affairs, Pralhad Joshi is set to convene a meeting of the floor leaders of various political parties in both Houses of Parliament ahead of the Budget Session. Before each parliamentary session, it is a standard procedure for leaders of various political parties to outline the issues they intend to raise, and the government provides them with a preview of its agenda while seeking their cooperation. It will be a short session this time, between January 31 and February 9, with Finance Minister Nirmala Sitharaman set to table the interim budget ahead of the Lok Sabha polls. The new government will present the full-fledged budget. The session will begin with President Droupadi Murmu's address to the joint sitting of the two Houses of Parliament.

Budget 2024, will be presented by the finance minister, Nirmala Sitharaman, on February 1, 2024. As always, all quarters of the economy has certain expectations from the Budget. A few key steps that would help to rationalise and simplify taxes are as follows: Rationalise and simplify withholding tax provisions TDS/TCS on purchase/sale of goods It is recommended that the TDS provisions of section 194Q and TCS provisions of section 206C(1H) be made applicable only to payees or payers who are not registered with GST. This will then align with the Government’s intention of widening and deepening the tax net. Alternatively, instead of TDS/TCS, the purchasers/sellers may be required to file Annual Information Returns. Also, in view of divergence between definition of ‘goods’ under Sale of Goods Act and GST law, ‘goods’ may be defined precisely with exclusion for items like shares, securities, foreign currency and actionable claims.

₹9,000 crore from the upcoming interim budget, which will be presented next week by Union finance minister Nirmala Sitharaman, according to officials from these hospitals. The government hospitals are expected to see an overall jump in allocation of around 13% this year. Apart from AIIMS Delhi, the other three hospitals are: Safdarjung Hospital, Ram Manohar Lohia Hospital and Lady Hardinge Medical College.

electric vehicle industry in India is advancing at a rapid pace. However, industry players note that it still needs some hand-holding as it is yet to mature. There is almost a consensus on the government continuing FAME subsidies in FY25. Along with that, many industry players have asked for GST parity for EV batteries, as well as financial incentives such as tax credits, subsidies, and low-interest loans. Here's what the industry players are asking from Finance Minister Nirmala Sitharaman. Hyder Khan CEO Godawari Electric Motors «I eagerly anticipate the upcoming budget with optimism and a fervent hope for increased support towards the electric mobility sector. The extension and enhancement of the FAME (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles) scheme would be instrumental in propelling India towards a sustainable and eco-friendly future. Substantial subsidies for electric vehicles and related infrastructure would not only incentivize consumers but also bolster the growth of our industry. These measures will not only promote cleaner transportation but also stimulate innovation and job creation. I look forward to a budget that recognizes the pivotal role electric mobility plays in achieving environmental goals and economic development, and I trust that the government will continue to foster a conducive ecosystem for the electric vehicle industry to thrive.»

The real estate sector, buoyed by a remarkable year, has again started looking towards the upcoming Interim Budget 2024-2025 with a blend of hope and expectations. The previous year, as detailed in various reports, was a milestone for residential real estate, witnessing an upsurge in both new launches and home sales. This success story has set the stage for what many in the industry hope will be a transformative period of policy reform.

taxpayers around the country are eagerly awaiting Feb 1 when Finance Minister Nirmala Sitharaman will present the last (interim) Budget before the 2024 general elections. Taxpayers’ expectations include slashing of tax rate, rollout of tax exemptions and slashing of TDS (tax deducted on source) on virtual digital assets (VDA), among others. Before listing out more expectations, it is vital to first decode some key terms for the lay taxpayer to understand.

₹204.30 crore, while National Insurance Company Ltd made a profit of ₹44.82 crore for the first half of the current fiscal from a loss of ₹1,768.46 crore in the year-ago period. Oriental Insurance Company Ltd slashed its first-half loss to ₹42.17 crore from a net loss of ₹3,586.93 crore during the first half of FY23. However, the New India Assurance Company Ltd reported a loss of ₹199.99 crore for the second quarter of FY24 from a profit of ₹260.23 crore posted during Q2FY23.

Interim Budget 2024, was held in North Block in the presence of Union Finance Minister Nirmala Sitharaman and MoS Finance Bhagwat Kisanrao Karad on Wednesday. So, what is ‘Halwa ceremony’? And why is it so important? The budget-making is a long process, it takes several months of planning, consulting and compiling to create the final draft of the Budget document. The process begins almost six months before the financial statement is presented in Parliament, commencing deliberations in August-September of the previous year.

Zee group founder Subhash Chandra had written to Finance Minister Nirmala Sitharaman, blaming Sebi for attempting to “scuttle" the merger. In his letter, Subhash Chandra alleged the Indian market regulator of “acting with a predetermined mind" and requested the finance minister to take the necessary steps "to safeguard the interest of the minority shareholders of ZEEL".

Budget 2024: Finance Minister Nirmala Sitharaman introduced a new tax regime in the Union Budget 2020-21. However, it comes with certain conditions. The government is trying to make the new tax regime attractive for income taxpayers. From 1 April, 2023, the new income tax regime has been made the default tax regime. However, the citizens have the option to avail the benefits of the old tax regime.