Page 2 - Finance Minister

Sitharaman launches foreign currency settlement system at GIFT City

We should refrain from weaponising technology: FM Sitharaman at Global Fintech Fest 2025.

Emmanuel Macron ally Roland Lescure named France's new finance minister

An initial salvo of 18 ministers was announced on Sunday evening by Emmanuel Moulin, Secretary General of the Élysee Palace

Sitharaman launches campaign to return ₹1.84 trn unclaimed financial assets

Most of the locked-up funds are in the form of deposits, insurance, provident fund, and shares, Finance Minister Nirmala Sitharaman said, calling on officials to ensure they reach the rightful owners

Private sector sees scope in India as govt maintains capex push: Sitharaman

Finance Minister Nirmala Sitharaman on Friday said India's capacity to absorb external shocks is strong at a time when the world economy is undergoing a structural transformation. She said the task before nations is not only to manage uncertainty but to confront trade, financial and energy imbalances. "Geopolitical conflicts are intensifying. Sanctions, tariffs, and decoupling strategies are reshaping global supply chains... For India, these dynamics highlight both vulnerability and resilience. Our capacity to absorb shocks is strong, while our economic leverage is evolving. "Our choices will determine whether resilience becomes a foundation for leadership or merely a buffer against uncertainty," Sitharaman said at Kautilya Economic Conclave 2025 here. Addressing the session on 'Seeking Prosperity in Turbulent Times', Sitharaman said wars and strategic rivalries are redrawing the boundaries of cooperation and conflict. "Alliances that once appeared solid are being tested, and new .

FM proposes 'Pension Sakhis' to drive NPS growth, launches new scheme

FM Nirmala Sitharaman proposed training women as Pension Sakhis to boost NPS enrolments and launched the Multiple Scheme Framework giving subscribers greater flexibility

FM Nirmala Sitharaman to inaugurate Kautilya Economic Conclave on Oct 3

The fourth Kautilya Economic Conclave will open Oct 3 with Finance Minister Nirmala Sitharaman inaugurating the three-day event on prosperity in turbulent global times

India's resilience stands out amid global uncertainties: FM Sitharaman

Finance Minister Nirmala Sitharaman on Thursday said India's resilience stands out due to its strong macroeconomic fundamentals amid increasing global uncertainties. Speaking at the 91st Foundation Day function of the Bank of Maharashtra, the Union Finance Minister said the uncertainty in the global environment has increased over the past year, and its impact is being felt across countries. "But amidst all these uncertain global situations, India's resilience stands out and several favourable factors, such as strong macroeconomic fundamentals, a young demography, and greater reliance on domestic demand, provide the core strength to the Indian economy," she noted. Sitharaman said the economic resilience has continued, particularly in the April-June quarter this year, as well, where India's GDP has grown by 7.8 per cent. "This...is not accidental at all," she said, adding that it reflects proactive fiscal and monetary policies, bold structural reforms, massive infrastructure creation

'GST reform not mere tax change but revolution', says FM Sitharaman

Addressing the gathering, Minister Sitharaman paid tribute to women workers who form the backbone of the matchbox industry

Large ships get infrastructure status in boost to maritime industry

Move seen to ease financing woes of India's nascent shipbuilding industry

Don't hesitate to invest more: FM Nirmala Sitharaman to India Inc

Finance Minister Nirmala Sitharaman asked industry to shed hesitation in investing and expand capacities while partnering with the government to skill youth for faster employment

₹3.6 trillion given to 22 states under 50-year loan, says FM Sitharaman

Union Finance Minister Nirmala Sitharaman on Wednesday said about Rs 3.6 lakh crore was given to 22 states so far under 50-year interest-free assistance. Addressing CII GCC Business Summit here, she also said India's capital investment grew to 4.1 per cent (including states) of the GDP in 2024-25 from 1.7 per cent in 2013-14. "The central government has also provided 50-year interest-free assistance to the state governments so that they can have their capital assets increased (with) money to spend on them. The Centre has given 50-year interest-free money to all states and the total of what has been given is about 3.6 lakh crore till now. That is the last four years. "And 22 states have actually used it, resulting in recording more than 10 per cent growth in capital expenditure from their own resources," she said. Sitharaman further said during the last 11 years, 88 airports have been operationalised, 31,000 kilometers of new rail tracks have been laid, Metro networks expanded over

No ITC for hotel rooms up to Rs 7,500 under 5% GST, says FinMin

Finance Ministry clarified that hotels must levy 5% GST without ITC on rooms up to Rs 7,500, a move industry bodies warn could hurt mid-scale and budget hotels

FM Sitharaman highlights GIFT City as global hub for financial services

Finance Minister Nirmala Sitharaman on Monday highlighted the role of IFSC GIFT City as a global financial service provider. During the meeting with top management of HSBC Plc, Sitharaman outlined the roadmap towards Viksit Bharat, towards Atmanirbhar Bharat, sustainability, innovation, adoption of Artificial Intelligence (AI) and inclusivity. GIFT IFSC, international financial services centre, is located in Gandhinagar Gujarat. HSBC Group chairman Mark E Tucker and the Board Members of the UK-based financial services firm met the finance minister here. The meeting focused on India's growth story, Government of India's policy initiatives and HSBC's role in supporting India, the finance ministry said in a post on X. Members of the top management of HSBC appreciated India's continued growth story, including, the government's focus on broad regulatory reforms, and recent taxation reforms in both direct and indirect taxation, it said. The dialogue also addressed India's ambition to .

Regulations should foster innovations, not wipe them out: FM Sitharaman

Finance Minister Nirmala Sitharaman on Monday emphasised the need for regulations that foster technology innovation in a responsible manner, particularly in artificial intelligence (AI), rather than stifling it. The government is determined to not only adopt AI technologies but also ensure their responsible application across various sectors, she said while releasing the report 'AI for Viksit Bharat: The Opportunity for Accelerated Economic Growth'. "We do not want regulation that literally wipe out technology itself. We want regulations because we want a responsible application," she said after releasing the report prepared by Niti Aayog here. "AI is a rapidly progressing, real time, dynamic thing, and therefore all of us will have to be conscious that we don't sit back on the ethic as AI can also have its challenges," she said. The challenge not just in jobs, but also in a way in which these can be misused which can have repercussions for the society, she added. According to the

Police files culpable homicide case in death of finance ministry official

Police have registered a case of culpable homicide after a senior finance ministry official died when his motorcycle was hit by a luxury sports utility vehicle near the Delhi Cantonment metro station a day earlier, an official said on Monday. Deputy Secretary in the Department of Economic Affairs, Navjot Singh (52), a resident of Hari Nagar, was killed in the accident on Sunday afternoon, while his wife sustained serious injuries. The couple was returning home after visiting the Bangla Sahib Gurdwara. The BMW, which was being driven by a woman with her husband by her side, who were also injured in the incident. According to police, the couple, residents of Gurugram, are in the business of manufacturing leather saddles, seats, covers, belts and other products. They have been admitted to a hospital and their statements are yet to be recorded, police said. According to a Delhi Police official, the case has been registered under Bharatiya Nyaya Sanhita sections sections 281 (rash driv

Insurance Amendment Bill likely in Winter session, says FM Sitharaman

Insurance Amendment Bill, which proposes 100 per cent FDI in the insurance sector, is likely to be introduced in Parliament in the upcoming Winter session, Finance Minister Nirmala Sitharaman has said. The winter session of Parliament generally commences in the second half of November and concludes before Christmas. "I hope to", she told PTI when asked if the bill to further liberalise FDI in the insurance sector can be introduced in Parliament in the upcoming Winter session. The finance minister, in this year's Budget speech, proposed to raise the foreign investment limit to 100 per cent from the existing 74 per cent in the insurance sector as part of new-generation financial sector reforms. "This enhanced limit will be available for those companies which invest the entire premium in India. The current guardrails and conditionalities associated with foreign investment will be reviewed and simplified," she had said. So far, the insurance sector has attracted Rs 82,000 crore throug

GST reforms: Taxation can't be an emotional decision, says FM Sitharaman

Days after the big-bang GST reform announcement, FM Nirmala Sitharaman, at her North Block office on Saturday, spoke at length on a range of issues in an hourlong interaction with Business Standard

Govt keeping 'good watch' on rupee as several currencies fall, says FM

Finance Minister Nirmala Sitharaman has said that the government is keeping a 'good watch' on exchange rates, stressing that besides rupee several other currencies have depreciated against the US dollar. "The rupee slide is largely against the dollar, not against any other currencies. That's also because of the way globally, the dollar has strengthened," she said when asked if the slide of rupee against greenback is a concern. "This is not the case only with rupee versus dollar, it's the case with many other currencies versus the dollar. So we are keeping a good watch on this," she told PTI in an interview. The rupee plummeted to a record low and closed at 88.27 against dollar after touching an intra-day low of 88.38 on Friday. The fall came amid concerns over US tariffs, while intervention by the Reserve Bank of India through state-run banks helped limit further losses. The steep tariff of 50 per cent imposed by the US on Indian goods took effect on August 27. The tariffs - among

Sitharaman thanks state FMs for support in implementing GST overhaul

Finance Minister Nirmala Sitharaman hailed the GST Council's unanimous decision to cut tax rates, thanking state finance ministers for prioritising public relief over revenue concerns

FinMin likely to host two-day PSB Manthan with PSU bank leadership

The Finance Ministry is likely to hold a two-day PSB Manthan to brainstorm with the top leadership of public sector banks and unlock next-generation reforms, while continuing with the EASE journey, according to sources. The two-day brainstorming session, beginning September 12, would see participation of top management of public sector banks (PSBs), they added. The last such Manthan was held in April 2022, with the entire leadership of PSBs under the guidance of the Department of Financial Services (DFS) to take Enhanced Access & Service Excellence (EASE) reforms to the next level. EASE is based on the recommendations made by PSB Whole Time Directors (WTDs) and senior executives in 'PSB Manthan' held in November 2017. In the last manthan, six working groups were formed to look into the functioning of public sector banks (PSBs) and suggest ways to improve customer service, digitisation, HR incentives, corporate governance and collaboration. The latest round of PSB Manthan would be