Happy Birthday FM Nirmala Sitharaman! A look at Finance Minister's major achievements on her 64th birthday
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.
2) GST Council Meeting: The Union cabinet cleared the legislative changes needed to implement the GST Council’s decision to ensure that 28% GST is paid on the full value of amounts deposited by players for betting on online games, casinos, and horse races. During the monsoon session, FM Sitharaman informed the Rajya Sabha that it is anticipated that the levy of 28% GST on the full face value of bets, as recommended by the 50th GST Council meeting, will result in the increase of revenue from current levels.
3) Focus on flagship schemes: FM Nirmala Sitharaman has earlier said that Regional Rural Banks (RRBs) should continue their focus on flagship schemes of the Central government such as PMJJBY, PMSBY, PM SVANidhi, Atal Pension Yojana, PM Jan Dhan Yojana, PM Mudra Yojana, KCC, KCC Animal Husbandry & Fisheries, and aim for their saturation. 4) New Income Tax Slabs: FM Sitharaman in her budget speech has made key major announcements for hard-working middle-class citizens who pay taxes.
These are called new income tax slabs and the Centre has decided to make it a default tax regime. However, the old income tax slabs regime has not been abolished as well.
She has proposed to make the exemption limit to ₹7 lakh under the new tax regime. 5) Amalgamation of Public Sector Banks: FM Sitharmana led the
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