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Nirmala Sitharaman
Prime Minister Narendra Modi's emphasis on avoiding "policy ping-pong" has shaped the Union Budget 2026-27, which is anchored in policy stability while laying the pathways for the long-term vision of a 'Viksit Bharat' at its core, Finance Minister Nirmala Sitharaman said. Framed as the first Budget of a new five-year fiscal cycle and the second quarter of the 21st century, it prioritises capital expenditure, infrastructure expansion and structural reforms over populist measures, while maintaining fiscal discipline. By emphasising predictable policymaking, sustained investment and multi-year planning extending to 2047 and beyond, the Budget seeks to strengthen economic resilience, crowd in private investment and position India for durable, export-led growth. "People want stability, and that is why they have elected Prime Minister Modi for the third time. Stability is inherent in that vote, and it is equally reflected in the way policies are executed through successive budgets," ...
The government will soon constitute a High-Level Committee on Banking for Viksit Bharat to draw up a blueprint to create mega-lenders capable of meeting the financing needs of a developed India, Finance Minister Nirmala Sitharaman said. "We want the committee to tell us what kind of things we need to do so that banking is made available for funding Viksit Bharat," she told PTI Videos in an interview. Asked if it would suggest a merger of public sector banks, Sitharaman said one should not narrow it down like that. "It is for India's banking sector to be made big enough, big enough in the sense, made or primed to take care of Viksit Bharat funding. You have to reach Viksit Bharat destination...it (Viksit Bharat) needs money, it needs financing, it needs credit, it needs banking facility to reach the common man." When asked about the timeframe for formation of the committee, she said, "We will do it at the earliest". "I propose setting up a 'High Level Committee on Banking for Viksi
The India-US Interim Agreement framework will support Indian MSMEs in integrating into global value chains and lower costs for businesses and consumers, Finance Minister Nirmala Sitharaman said on Saturday. As part of the framework announced last night, both countries will reduce import duties on a number of goods to boost two-way trade. While the US will reduce tariffs on Indian goods to 18 per cent from the present 50 per cent, India will eliminate or cut down import duties on all US industrial goods and a wide range of American food and agricultural products, including dried distillers' grains, red sorghum for animal feed, tree nuts, fresh and processed fruit, soybean oil, wine and spirits. According to a joint statement, India has expressed its intention to purchase USD 500 billion of US energy products, aircraft and aircraft parts, precious metals, technology products and coking coal over the next five years. "India has safeguarded the sensitivities of its agriculture and anim
US President Donald Trump's decision to slash tariffs on Indian goods to 18 per cent augurs well for the country as it will boost exports, Finance Minister Nirmala Sitharaman said Tuesday. "So, actually our exports will pick up now, that is my expectation... along with having found new markets where they will continue to operate," she said in an interview to PTI Videos. "It is a good augury for them (exporters)," Sitharaman said. Trump's steep 50 per cent tariffs last year dented Indian exports by raising landed costs, squeezing exporter margins, and eroding competitiveness in the American market. Sectors such as steel, aluminium, textiles, engineering goods and some agricultural products were hit as higher duties led US buyers to shift orders to alternative suppliers. On Monday, Trump agreed to slash US tariffs on Indian goods to 18 per cent from 50 per cent in exchange for India lowering trade barriers as well as stopping its purchases of Russian oil and instead buying oil from t
Finance Minister Nirmala Sitharaman on Tuesday welcomed the reduction in United States' tariffs on Indian goods, describing the development as a major boost for the 'Made in India' initiative. Taking to social media platform X, the finance minister said that Indian products would now face a reduced reciprocal tariff of 18 per cent. "Good news for #MadeInIndia products. They will now face reduced tariff of 18%. Thanking the leadership of PM @narendramodi and @POTUS for this development. People of our two large democracies stand to benefit," she said in a post on X. The breakthrough follows a high-level telephonic conversation between Prime Minister Narendra Modi and US President Donald Trump. In a reciprocal move, India has committed to reducing trade barriers for American goods and significantly increasing imports across sectors, including energy, technology, and agriculture. Following the trade agreement announcement, Prime Minister Narendra Modi said he was delighted that "Made
Finance Minister Nirmala Sitharaman on Monday said the Union Budget for FY27 has focussed on investment as a priority tool for boosting consumption, and the trajectory of fiscal deficit shows that the government's priority is growth. Interacting with the media after the 2026-27 Budget presentation, Sitharaman also the volatility in gold prices is due to global uncertainty, and many central banks are investing in gold. "It also shows that investors do not have confidence in any one particular currency. and hence the rush to buy gold," Sitharaman said. Talking about hike in securities transaction tax (STT) on F&O trades, the minister said it is a "sort of deterrence so that people do not go headlong in speculative" derivative trading. The Budget has proposed an increase in STT on futures contracts to 0.05 per cent from 0.02 per cent. STT on options premium and exercise of options are proposed to be raised to 0.15 per cent from the present rate of 0.1 per cent and 0.125 per cent, ...
