Page 45 - Finance Minister

Finance ministry didn't claim inflation hurts rich more than poor, says PIB

The claim and counterclaim over inflation come at a time when retail inflation rose to an eight-year high in April to 7.8 per cent

FM assures investors of addressing pain points to encourage investments

The Finance Minister said she was open to receive suggestions, understand pain points and offer necessary redressal wherever possible

Sitharaman discusses growth potential in MRO with Boeing Defense CEO

Finance Minister Nirmala Sitharaman on Friday met Boeing Defense CEO Ted Colbert and discussed opportunities for investments and growth in maintenance, repair, and operations (MRO) and aircraft leasing in India. The Finance Minister is visiting the US to attend IMF-WB Spring Meetings 2022. "Union Finance Minister Smt. @nsitharaman met Mr Ted Colbert, President & CEO @BoeingDefense, to discuss opportunities for investments and growth in #MRO and aircraft leasing," the finance ministry said in a tweet. Colbert mentioned that Boeing is expanding its India operations and is committed to the vision of Aatmanirbhar Bharat. He also expressed that due to the reforms undertaken by the government, India has the potential to become a global MRO hub. On the sidelines of IMF-WB Spring Meetings, she also met COP26 President Alok Sharma here. "Union Finance Minister Smt. @nsitharaman and Rt. Hon. @AlokSharma_RDG discussed #climate #action #goals and ongoing and potential interventions to ...

Sitharaman meets OECD Secretary General, discusses bilateral engagement

India will hold the Presidency of the G20 from December 1, 2022 to November 30, 2023, culminating with the G20 Summit in India in 2023

FM reaffirms India's commitment to fighting terror financing; lauds FATF

FM Nirmala Sitharaman has reaffirmed India's commitment to fighting money laundering and terrorist financing as she appreciated the role of FATF global network in safeguarding the financial system.

FM Sitharaman stresses need for conflict resolution to attain prosperity

Finance Minister Nirmala Sitharaman on Thursday said it was necessary to address the challenges of conflict and violence to achieve the twin role of ending extreme poverty and boosting shared prosperity. "Union Finance Minister Smt. @nsitharaman attended Ministerial Dinner for Development Committee members in Washington D.C., today," the Finance Ministry said in a tweet. "FM Smt.@nsitharaman called for addressing #Fragility #Conflict & #Violence #FCV challenges as necessary to achieve twin goals of ending extreme poverty & boosting shared prosperity, esp. when up to two-thirds of the world's extreme poor will live in #FCV countries by 2030," the ministry said in another tweet. The Finance Minister is in the US to attend IMF-WB Spring Meetings 2022. She stressed that livelihood support, education, health, and women, youth and children should always be prioritised while engaging with fragile and conflict-affected situations in FCS countries. The Finance Minister's remarks came ..

G20 nations need to coordindate urgently for economic recovery: Sitharaman

Finance Minister Nirmala Sitharaman has said that there is an urgent need for coordinated action across countries to not only enable swift post-pandemic recovery but also to build resilience to future shocks as she attended the G20 Emerging Market Economies meeting here. Sitharaman shared her insights on the economic outlook, risks and near-term policy challenges for Emerging Market Economies (EMEs) such as food and energy security and tightening of global financial conditions, the Ministry of Finance said. The the G20 Emerging Market Economies meeting was organised by the IMF on the sidelines of the upcoming G20 Finance Ministers and Central Bank Governors meeting. The Finance Minister, discussing the future of work and debt vulnerabilities, said that there is an urgent need for coordinated action across countries to not only enable swift post-pandemic recovery but also to build resilience to future shocks. Union Finance Minister Smt. @nsitharaman & Shri @DasShaktikanta @RBI ...

Strong US-India relationship to strengthen global order: FM Sitharaman

Observing that the recent Indo Pacific Economic Framework (IPEF) is a fantastic thought which has come from the US, she said India is looking at it and will take a considered view

India headed for robust economic growth, says FM Sitharaman in US

Sitharaman is here to attend the annual spring meeting of the International Monetary Fund and the World Bank

GatiShakti, PLI scheme to offset global headwind, boost growth: FinMin

'Geopolitical conflicts and their consequent impact on food, fertiliser and crude oil pri­ces cast a cloud on the growth outlook globally'

Govt did not raise taxes to fund economic recovery, focused on capex: FM

Sitharaman said the Modi Government's belief in lowering taxes and reduction in corporate tax have started yielding results with corporate tax collection touching Rs 7.3 lakh crore so far this fiscal

Today's realities dictated interest rate cut on employee PF, says FM in RS

8.1% rate better than interest rate on small saving deposits, says FM in Rajya Sabha

Sebi chief Madhabi Puri Buch calls on FM Nirmala Sitharaman

Earlier, Buch had held a number of top positions in the private sector, including at ICICI Bank

Rs 54,604-crore ECLGS loans for FY22 guaranteed: Finance ministry

This is down from Rs 1.57 trillion worth of loans guaranteed in 2020-21

Many states request GST compensation extension beyond 5 years: FM

Many states have requested extension of the compensation mechanism under the GST beyond June 2022, Finance Minister Nirmala Sitharaman said on Monday. Under the Goods and Services Tax (GST) law, states were guaranteed to be compensated bi-monthly for any loss of revenue in the first five years of GST implementation from July 1, 2017. The shortfall is calculated assuming a 14 per cent annual growth in GST collections by states over the base year of 2015-16. The 5-year period ends in June 2022. The compensation amount to be paid from the compensation fund is arrived at by levying cess on top of the highest tax slab on luxury, demerit and sin goods. In a written reply in the Lok Sabha, Sitharaman said the central government is committed to giving GST compensation to states/UTs for 5 years as per the Constitutional provision. To a query whether the government has received proposals from state governments requesting extension of compensation mechanism for another five years in view of

Digital economy to see exponential growth to $800 bn by 2030: FM

The total number of retail investor accounts has almost doubled, from about 45 million as of March 2016 to 88.2 million by March 31 2021, said Finance Minister Nirmala Sitharaman

E-Bill system will end 'rent seeking' in govt contracts: FM Sitharaman

Nirmala Sitharaman said the new Electronic Bill (e-Bill) processing system will stop any possible 'rent seeking' in the clearance of dues to contractors or suppliers of government departments.

IPR plays important role in strengthening growth, focus on development: FM

The Finance Minister mentioned that 28,000 patents were granted last year as opposed to 4,000 in 2013-2014 and last year also witnessed registration of 2.5 lakh trademarks and over 16,000 copyrights

Strong Centre-State relations essential for development: FM Sitharaman

Sitharaman mentioned managing the growing urbanisation to create stronger communities as one of the areas in which the Centre and states' coordination will be essential

FM Nirmala Sitharaman holds meeting with hospitality, tourism sectors

Finance Minister Nirmala Sitharaman on Friday held a meeting with representatives from travel, tourism and hospitality sectors to discuss various credit related issues with them. The meeting was also attended by senior finance ministry officials and heads of various public sector banks (PSBs). "Along with the FM, the meeting was also attended by MoS Finance Shri @DrBhagwatKarad; Finance Secretary; Secretaries for Financial Services, Economic Affairs & Revenue; chiefs of PSBs & IBA, besides senior officials from @FinMinIndia," the finance ministry said in a tweet. It is to be noted that Budget 2022-23 had proposed to open an additional Rs 50,000 crore window under the Emergency Credit Line Guarantee Scheme (ECLGS) to support hospitality and related services sector. "Hospitality and related services, especially those by micro and small enterprises, are yet to regain their pre-pandemic level of business. Considering these aspects, the ECLGS will be extended up to March 2023 and ..