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Who is Nirmala Sitharaman
Nirmala Sitharaman is a prominent Indian politician and a senior leader in the Bharatiya Janata Party (BJP), currently holding the portfolios of the Ministry of Finance and the Ministry of Corporate Affairs in the Prime Minister Narendra Modi-led government. She is also a Member of Parliament in Rajya Sabha from Karnataka constituency. She is the first full-time woman Finance Minister of India, a position she assumed in May 2019. Earlier, Indira Gandhi had briefly held the finance portfolio as an additional charge while serving as Prime Minister. Sitharaman presented the government's first Budget of its second term on July 5, 2019, maintaining tax relief for individuals earning up to Rs 5 lakh annually, initially proposed by her predecessor Piyush Goyal in the Interim Budget. She also introduced an increased surcharge for those with an annual taxable income of over Rs 2 crore, demonstrating her commitment to progressive taxation policies.
Education
She completed her Bachelor's degree in Economics from Seethalakshmi Ramaswami College in Tiruchirappalli, Tamil Nadu in 1980. Following this, she pursued a Master of Arts degree in Economics from Jawaharlal Nehru University (JNU) in New Delhi in 1984, where she also studied under notable economists. She then enrolled
in a PhD program but wasn't able to finish as she had to move to London with her husband.
Political Career
Before her appointment as Finance Minister, Sitharaman served as the Defence Minister from 2017 to 2019. During her tenure, she played a crucial role in defending the Modi government against allegations of corruption in the Rafale aircraft deal with France, a significant issue raised by the Opposition in the lead-up to the 2019 Lok Sabha elections. Her articulate defense in public forums and Parliament was pivotal in addressing these accusations, helping the BJP secure a strong mandate in the elections. Additionally, she was a key member of the committee responsible for drafting the BJP's manifesto for the 2019 elections. Sitharaman's political journey began when she joined the BJP in 2008.
Read all about Interim Budget 2024, presented by Sitharaman on February 1
Read all about Interim Budget 2024, presented by Sitharaman on February 1
She quickly rose through the ranks, becoming a national spokesperson for the party in 2010, where her effective communication skills were widely recognized. In 2014, she was appointed as Minister of State for Commerce and Industry with independent charge, playing a vital role in shaping India's trade and industry policies during the first term of the Modi government. Born in Tamil Nadu, Sitharaman holds a master's degree from Jawaharlal Nehru University. Before entering active politics, she had a diverse career. She worked in the corporate sector and later moved to London with her husband, where she joined the British Broadcasting Corporation (BBC). After returning to India in the 1990s, she became an educationist and founded the Pranava School in Hyderabad. During the National Democratic Alliance (NDA) regime under Atal Bihari Vajpayee, she was nominated to the National Commission for Women, reflecting her longstanding commitment to public service and women's issues. In the period following the 2019 Lok Sabha elections, Sitharaman has been at the forefront of several significant economic reforms.
She has overseen measures aimed at revitalizing the Indian economy, which has faced various challenges including the impacts of Covid. Her tenure has been marked by efforts to streamline taxation, including the implementation of the Goods and Services Tax (GST) and the reduction of corporate tax rates to boost economic growth. Additionally, she has focused on improving the ease of doing business in India, attracting foreign investment, and supporting the development of small and medium enterprises (SMEs). Sitharaman's role in the government extends beyond economic management. She has been instrumental in various initiatives aimed at promoting financial inclusion and digital transformation. Her leadership in implementing the Pradhan Mantri Jan Dhan Yojana, which aims to increase access to banking services, and the push for digital payments through the Unified Payments Interface (UPI), have been notable contributions to India's economic landscape.
In the Interim Budget 2024, Finance Minister Nirmala Sitharaman outlined several important measures. A significant focus was placed on increasing the capital expenditure target, with an allocation of Rs 11.11 trillion. This substantial investment aims to boost infrastructure development, stimulate economic growth, and create employment opportunities across various sectors. Another key initiative was the extension of healthcare coverage under the Ayushman Bharat scheme to ASHA and Anganwadi workers. This move is expected to strengthen the healthcare system at the grassroots level and improve access to medical services for millions of Indians.