Page 38 - Finance Minister

Insurance execs to FM Sitharaman: Relax taxing high-value policies

They want the threshold of premiums beyond which the income from these policies is taxed raised to Rs 10 lakh per year from the current Rs 5 lakh

FinMin asks depts, CPSEs to refund 95% of MSMEs securities till March 2022

The Finance Ministry on Monday asked all departments and public sector entities to refund 95 per cent of the performance or bid security and liquidated damages forfeited/deducted from small and medium businesses in government tenders for over two years till March 31, 2022. To give relief to MSMEs, Finance Minister Nirmala Sitharaman in 2023-24 Budget announced 'Vivad se Vishwas-I' scheme which provides that in cases of failure by MSMEs to execute contracts during the Covid period, 95 per cent of the forfeited amount relating to bid or performance security will be returned to them by government and government undertakings. The Finance Ministry's Expenditure Department on Monday issued an office memorandum stating that all contractors or suppliers registered as micro, small and medium enterprises (MSME) with the Ministry of MSME as on March 31, 2022, would be eligible to claim a refund of the forfeited amount for contracts which had an original delivery or completion period between ...

IRDAI should set up a committee to review its regulations: Experts

In line with Nirmala Sitharaman's budget announcement, the Insurance Regulatory and Development Authority of India (IRDAI) should set a committee of its own to review its various regulations

From savings to spending: What new IT rules tell us about govt's intentions

The new IT regime will be the default one but those tax payers wanting to continue with the old one can still do so

Maintaining growth momentum the main idea behind Budget preparation: FM

Sitharaman said she was clear that the Budget had to keep the growth momentum intact, and even Prime Minister Narendra Modi was on board with it

Budget 2023: Gaming industry welcomes TDS change, awaits clarity on GST

Budget 2023: The Centre has also made a distinction between 'games of skill' and 'games of chance' in the Finance Bill, signalling that both might get a separate tax structure in future

Callous, betrayed hopes of vast majority, says P Chidambaram on Budget

Chidambaram mentioned that both the Capital Expenditure and the Effective Capital Expenditure of the central government is lower than the Budget estimates

Budget 2023: FM sticks to fiscal road map, targets deficit of 5.9% in FY24

The fiscal deficit is the difference between the government's expenditure and revenues when the former is higher

Budget 2023: This Is how the budgetary allocation compares with last year

The government has proposed on creating infrastructure by increasing the capital expenditure by 33 per cent to Rs 10 trillion

Union Budget 2023: Capital expenditure to be hiked by 33% to Rs 10 trillion

Budget 2023: PAN cards will be used as a common identifier for all government schemes, the FM said in her Budget speech

Union Budget 2023: Centre bets big on Artificial Intelligence, IoT

Budget 2023: Nirmala Sitharaman added that the National Data Governance Policy will enable anonymised data and the KYC process will be simplified by adopting a risk-based system

Budget 2023: FM Nirmala Sitharaman takes tablet in red pouch to Parliament

Budget 2023: With the tablet carefully kept inside a red cover with a golden-coloured national emblem on, FM Nirmala Sitharaman went to the Parliament after meeting President Droupadi Murmu

FM Sitharaman arrives at North Block ahead of Budget 2023 presentation

In view of the upcoming budget, top business leaders of the country have also put forward their suggestions for Nirmala Sitharaman

Budget 2023: Experts expect a boost to decarbonisation, energy transition

Issues that need to be addressed include expanding funding for renewable manufacturing, extending PLI to wind and green hydrogen, among others

Here is what CEA Nageswaran said on the morning of the Economic Survey

Nageswaran said that the Economic Survey provides a 'bird's-eye view of happenings in the economy

Fiscal deficit target for FY24 to be kept at 5.8-5.9% in Budget: Report

The fiscal deficit is expected to remain much larger than the 4-4.5 per cent of the GDP that was usual for decades

CAIT urges union FM on financial support for small traders in Budget

Traders' body, the Confederation of All India Traders (CAIT) has urged the Union Finance Minister for financial support policies for small traders in the upcoming Budget

Analysts expect FM Sitharaman to trim FY24 fiscal deficit to 6% or lower

Finance Minister Nirmala Sitharaman will keep on the path of fiscal consolidation and opt for narrowing the FY24 fiscal deficit to as low as 5.8 per cent in the upcoming Budget, analysts said Tuesday

What are PM, FM hiding: Cong leader Jairam on Rane's 'recession' remark

What are Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman hiding from the country, Congress leader Jairam Ramesh asked on Tuesday after Union minister Narayan Rane's remarks indicating that India may face an economic slowdown after June. The minister for Micro, Small and Medium Enterprises (MSME) told reporters in Pune in Monday that if India faces an economic recession, it will happen only after June, but the Centre was making all efforts to avoid such a situation. He said developed countries were already facing an economic downturn. "Narayan Rane, Union Cabinet Minister of MSMEs - that have been destroyed since 2014 - forecasts recession in India after 6 months. He said this in Pune to a G20 gathering. What are the PM & FM hiding from the country?" Ramesh asked on Twitter. Rane's comments came after inaugurating the G20's 1st Infrastructure Working Group (IWG). India currently holds the presidency of the G20 grouping. "As I am in the Cabinet, some information

India keen to present views of 'global south' at G-20: FM Sitharaman

Strengthening of multilateral institutions a priority, she says as country outlines its vision as G20 president