Nirmala Sitharaman News

Finance Minister Nirmala Sitharaman on Thursday said the government is aiming to make India a global hub for production, utilisation and export of green hydrogen. Speaking at the launch of HSBC India's strategic partnerships towards enabling innovation in Green Hydrogen, the minister said the government is focused on driving green growth through a range of green reforms. The initiative, she said will provide a roadmap towards reducing carbon intensity in the economy and enable the creation of green job opportunities. «Green hydrogen has a pivotal role to play as we counter climate change and work towards enabling a low-carbon and self-reliant economy.

₹7 lakh, said Business Standard in its report citing a senior government official. The majority of these taxpayers, it was stated, have taxable incomes of up to ₹7 lakh. “We don’t see any reason why 55 million won’t shift to the new tax regime.

Karnataka will register its strong views with the Centre about the injustice caused by the previous finance commissions while seeking a fair deal ahead of the constitution of the 16th Finance Commission, Chief Minister Siddaramaiah has said. The Congress leader, after taking over as chief minister in May this year, has often complained that the finance commissions have handed a raw deal to his state in devolution of funds. “Before the 16th Finance Commission is constituted, we will urge the Centre to rectify the injustice meted to Karnataka in the 15th Finance Commission.

Nirmala Sitharaman, and health minister Mansukh Mandaviya. The finance and health ministers of several G20 nations attended the event.

India and the UK along with a free trade agreement will figure prominently during the visit of a high-level team from Britain here, an official said. UK Secretary of State for Business and Trade Kemi Badenoch and Director General for Trade Negotiations at the Department for Business and Trade (DBT) Amanda Brooks are visiting India this week. Besides participating in the G20 Trade and Investment Ministerial Meeting in Jaipur on August 24-25, the UK minister will hold bilateral talks with Commerce and Industry Minister Piyush Goyal on August 26 here and review the progress of talks on the free trade agreement.

Home Loan / Four & Two-wheeler loans for all new customers having credit scores of 700 and above. This offer is for the period 16th August, 2023 to 15th November, 2023 (both days inclusive). This waiver is also extended for the takeover of housing loans from other banks and financial institutions.

Agricultural Cooperative Marketing Federation of India Ltd (NAFED), will start selling tomatoes at a reduced rate of ₹40 per kilogram from today (20 August). Since last month, cooperatives NCCF and NAFED have been selling tomatoes at a discounted rate on behalf of the government to contain the price rise. To date, over 15 lakh kilogram of tomatoes have been procured by the two agencies and are being sold to retail consumers in major consumption centres in the country, including Delhi-NCR, Rajasthan (Jaipur, Kota), Uttar Pradesh (Lucknow, Kanpur, Varanasi, Prayagraj) and Bihar (Patna, Muzaffarpur, Arrah, Buxar).

Nirmala Sitharaman on Saturday chaired a high-level review meeting on the growth of India's first International Financial Services Centre (IFSC) at GIFT City, Gandhinagar. Sitharaman stressed the importance of recognizing and supporting the identified pathways to elevate GIFT City as a premier global financial hub. She echoed the vision of Prime Minister Narendra Modi, stating that GIFT City should not only be an international center but also a global leader in solving complex financial challenges, especially amid current global economic headwinds.

Finance Minister Nirmala Sitharaman will be visiting Gandhinagar on Saturday to attend Joint Finance and Health Ministerial G20 Meeting and later she will review IFSC Gift City functioning. The Joint Finance and Health Ministerial G20 Meeting at Mahatma Mandir Exhibition and Convention Centre will also be attended by Health and Family Welfare Minister Mansukh Mandaviya, the finance ministry said in a statement.

On her 64th birthday, here are some major achievements of FM Sitharaman: 1) Central Goods and Services Tax Amendment Bill: Finance Minister Nirmala Sitharaman introduced the bills on the monsoon session's final day, amidst opposition protests over Congress leader Adhir Ranjan Chowdhury's suspension. Lok Sabha approved amendments to GST laws, proposing a 28% tax on total bet value in online gaming, casinos, and horse race clubs.

Nirmala Sitharaman on Thursday asked chartered accountants to adequately familiarise themselves with new and growing areas of auditing, including ESG (environmental, social, and governance) and carbon accounting, and to adopt technology to improve their productivity. Developing expertise in new areas will help not just their clients but also the broader ecosystem, Sitharaman said at an event held by Institute of Chartered Accountants of India (ICAI) in Bhubaneswar.

Finance minister Nirmala Sitharaman has urged chartered accountants (CAs) in the country to familiarize themselves with new-age concepts and areas of accounting and compliance including carbon accounting, CSR (corporate social responsibility) accounting and auditing as well as due diligence related to ESG (environmental, social and governance) to be at par with their counterparts in other nations amid changing global practices and compliance needs. “There are newer areas with which chartered accountants will have to familiarize themselves, especially given global developments, to better advise clients on new greenfield areas.

Nirmala Sitharaman on Thursday asserted that the National Education Policy (NEP) 2020 is flexible and is not imposed on states by the Centre. States can adopt the policy according to their requirements, she said at the launch event for 'Desia' and 'Kuwi' (tribal languages) primer books in Bhubaneswar, along with Union Education Minister Dharmendra Pradhan. «NEP is a flexible policy.

Chintan Shivir of the ministries of finance and corporate affairs, starting August 20 in Kevadia in Gujarat, will deliberate on both short and long-term measures that are required to achieve as well as sustain high growth rates, control inflation and tide over external headwinds, a person close to the development said. Finance and corporate affairs minister Nirmala Sitharaman will address the meeting on August 21, which will be attended by senior officials of all the departments of the two ministries.

Finance Minister Nirmala Sitharaman on Wednesday invited Japan Bank for International Cooperation (JBIC) for an active engagement with National Investment and Infrastructure Fund (NIIF), EXIM Bank of India and other financial institutions citing huge opportunity for investment in the country. During the meeting with JBIC Governor Hayashi Nobumitsu here, both exchanged views on JBIC's recent activities in India contributing towards Japan's investment target of five trillion yen over the next five years. «The Union Finance Minister observed that India has been ranked by the JBIC as one of the most attractive #investment destinations in recent years' survey of Japanese manufacturing companies and encouraged engagement of JBIC with Indian financial institutions such as Exim Bank @IndiaEximBank, NIIF and lending banks to leverage the strength and complementarities of both countries,» the finance ministry said in a statement posted on X. Japan has agreed to provide 5 trillion yen in public-private investment and loans to India over the next 5 years. This goal was set by both countries during Prime Minister Kishida Fumio's visit to India in March of last year.

lab-grown diamonds have slumped 28.57% year on year in the first four months of the current fiscal despite government backing, but industry insiders expect numbers to pick up this month onward after a price correction in July. Manufacturers of lab-grown diamonds (LGD) – which are 80% cheaper than natural diamond – also claimed that export volumes have increased with the US being the largest importer.

Narendra Modi acknowledged the presence of inflation in the country and assured that his government is dedicated to minimising the impact of soaring prices. He emphasised their commitment to address this issue diligently. He said, “Whole world is facing inflation, India too facing same, but will minimise the burden of sky-rocketing prices.' He added, "our government has controlled inflation efficiently." He stated, "The world has yet to fully recover from the effects of the pandemic.

AMC Repo Clearing has reached out to some of India's largest companies as well as major provident funds, insurers and primary dealers as it seeks their active participation on its corporate bond repo platform, which aims to provide smoother access to capital for firms. The newly-launched clearing corporation, which at present has a Core Settlement Guarantee Fund of ₹50-55 crore, is confident of building a strong base of borrowers as several large companies are getting registered, a source said.AMC Repo is targeting daily trade volumes of ₹20,000 crore to ₹25,000 crore over the next couple of years, the source said.

ministry of corporate affairs (MCA) has entertained 1,270 requests from bodies representing company secretaries and chartered accountants for the merger or deactivation of multiple user IDs of their members in the first month of allowing such an exercise, according to the latest official data. The move will now enable these professionals to use the latest version of the MCA21 portal for various corporate filings because, unlike its earlier avatars, the version 3 or V3 portal doesn't entertain more than one ID per user to plug its abuse.

Multilateral development banks (MDBs) are facing increasing demands from donor and borrowing countries to expand their lending operations beyond their core development mandates. An independent expert group, steered by finance commission chairman NK Singh and former US treasury secretary Lawrence Summers, formed to examine ways to strengthen MDBs has recommended tackling global challenges alongside core MDB missions of poverty reduction, tripling the sustainable lending level by 2030 and improving capital adequacy for MDBs by infusing funds.

NEW DELHI : After decades of integration, the global economy is seeing increasing fragmentation, making it one of the biggest challenges for multilateralism and addressing shared economic objectives, finance minister Nirmala Sitharaman said. Speaking at a G20 event in Mumbai, Sitharaman said that India’s presidency has so far ensured that geopolitical differences don’t supersede the core mandate of international cooperation.