Nirmala Sitharaman

Kerala did not avail ₹311 cr national disaster mitigation fund: Sitharaman

Union minister Nirmala Sitharaman on Monday told the Lok Sabha that approval for central grants is one thing and applying for the amount by the states is another thing as she mentioned that Kerala did not avail Rs 311.95 crore as part of national disaster mitigation fund. The minister was responding to supplementaries during the Question Hour on the arrears of grants and amounts pending from the central government towards Kerala. Sitharaman, who is in charge of the finance and corporate affairs ministries, said a state has to provide the utilisation certificate so that the next round of funds can be released. For instance, she said there was a specific case related to Kerala where despite the allocation, the Kerala government has not even drawn the amount. An amount of Rs 311.95 for the National Disaster Mitigation Fund that includes Rs 72 crore for risk mitigation project in the landslide-affected territories of Wayanad. Another Rs 17.73 crore was approved for forest fire mitigat

New I-T Act to ease compliance for small taxpayers: FM Nirmala Sitharaman

Finance Minister says expanded presumptive taxation and simplified provisions under the new law will reduce compliance burden and litigation for small businesses and professionals

West Asia crisis: Ramping up domestic LPG output, says FM Sitharaman

Shipping constraints through the Strait are expected to persist in the near term, with global supply adjustments taking time

India not facing energy crisis, domestic LPG capacity ramped up: FM

Finance Minister Nirmala Sitharaman said supply remains steady, citing economic resilience and policy measures

Govt to soon come out with revamped Stand-Up India scheme: Sitharaman

The government will soon come out with a modified Stand-Up India scheme to provide better benefits to SC/ST and women entrepreneurs looking to set up new projects, Finance Minister Nirmala Sitharaman said on Monday. Launched in 2016, the Stand-Up India scheme aimed to empower Scheduled Castes (SC), Scheduled Tribes (ST), and women entrepreneurs by facilitating bank loans for setting up new enterprises. The scheme expired on March 31, 2025. Replying to a supplementary question in the Lok Sabha, the Minister said the modified scheme will incorporate lessons learnt in implementation of the original Stand-Up India scheme. "With studies done by Niti Aayog and others, this scheme is being redrafted and sooner the Cabinet will be given a proposal with which we will launch a new scheme to continue with this Stand-Up which benefitted SC/ST and women all over the country," Sitharaman said. The scheme provided loans between Rs 10 lakh and Rs 1 crore at the lowest applicable rate of the bank f

₹1 trillion stabilisation fund to give fiscal headroom: FM Sitharaman

Finance Minister Nirmala Sitharaman told Lok Sabha the Rs 1 trillion Economic Stabilisation Fund will help India respond to global shocks while keeping fiscal consolidation targets intact

Lok Sabha approves ₹2.81 trn gross additional expenditure in FY26

The Lok Sabha on Friday passed the second batch of supplementary demands for grants, allowing the government to spend an additional Rs 2.01 lakh crore in the current fiscal. Through the second batch of supplementary demands, the government sought Lok Sabha approval for spending a gross of Rs 2.81 lakh crore extra in the current fiscal year. With additional receipts of Rs 80,000 crore estimated for the current fiscal year in the supplementary, the net additional cash spending will be Rs 2.01 lakh crore. Despite the additional expenditure, the fiscal deficit for the current financial year (2025-26) will be within the Revised Estimates (RE), Finance Minister Nirmala Sitharaman said while replying to the debate. The second batch of supplementary demands was passed by a voice vote in the Lok Sabha amid din. Opposition members were protesting over the availability of LPG in the country amid the ongoing West Asia crisis. The Lok Sabha was adjourned for the day after the passage of the ...

Economic Stabilisation Fund to help India tackle global headwinds: FM

Finance Minister Nirmala Sitharaman said the proposed Economic Stabilisation Fund will create fiscal headroom for India to respond to global shocks such as supply chain disruptions and energy crises

Govt seeks Lok Sabha nod for ₹2.81 trn gross additional expenditure in FY26

The government on Tuesday sought Lok Sabha approval for gross additional expenditure of over Rs 2.81 lakh crore in current fiscal year. The second batch of Supplementary Demands for Grants was tabled in the Lok Sabha by Finance Minister Nirmala Sitharaman. "Approval of Parliament is sought to authorise gross additional expenditure of Rs 2,81,289.26 crore. Of this, the proposals involving net cash outgo aggregate to Rs 2,01,142.96 crore and gross additional expenditure, matched by savings of the Ministries/Departments or by enhanced receipts/recoveries aggregates to Rs 80,145.71 crore," said the Supplementary Demands for Grants.

720 million basic savings bank accounts exempt from balance penalty: FM

About 72 crore Basic Savings Bank Deposit Accounts (BSBDA), including those under the PM Jan Dhan scheme, are not subject to any penal charges for non-maintenance of minimum balance, Finance Minister Nirmala Sitharaman said on Monday. In a written reply to a question in the Lok Sabha, she said banks offer zero-balance savings accounts facility in Basic Savings Bank Deposit Accounts (BSBDAs), including the accounts opened under the Pradhan Mantri Jan Dhan Yojana (PMJDY), to ensure universal access to banking facilities, particularly for unbanked, vulnerable and small depositors, and to promote financial inclusion. These accounts do not require maintenance of any minimum balance, and the account holders are provided basic banking services such as deposits, withdrawals and ATM access free of charge, without levy of any penal charges. "Approximately 72 crore BSBDAs, including PMJDY accounts, are not subject to any penal charges for non-maintenance of minimum balance," Sitharaman said.

Oil price rise not to have substantial impact on inflation: Sitharaman

The impact of global crude price rise on inflation is not estimated to be substantial at this point as India's inflation is near the lower bound, Finance Minister Nirmala Sitharaman said on Monday. In reply to a written question in the Lok Sabha, Sitharaman said the price of both global crude oil and the Indian basket has been on a declining trajectory for the past one year, till the geo-political clashes commenced in West Asia on February 28, 2026. "Between the end of February and untill March 2, 2026, the Crude Oil FOB Price (Indian Basket) rose from USD 69.01/barrel to USD 80.16/barrel. Given that India's inflation is near the lower bound, the impact on inflation is not estimated to be substantial at this point," Sitharaman said. She was replying to a question on whether the government has reviewed the impact of rising global crude oil prices on inflation in the country. Global crude prices have been rising since February 28 when the US and Israel launched military strikes on Ir

Payments Council of India writes to FM raising concern on Fino CEO arrest

The outreach comes at a time when FM Sitharaman on social media platform X took note of the issue and said she will check on it

Fino Payments Bank backs its MD after GST arrest; FM says she will check

Fino Payments Bank says its MD Rishi Gupta and the bank had no role in alleged GST violations linked to programme managers; Finance Minister Nirmala Sitharaman says she will review the issue

AgriStack could transform farming, but execution will decide its fate

AgriStack, pitched as the "next UPI", could transform farm subsidies, tenant inclusion and soil health - but only if farmer, land and crop data are accurate and trusted

Business Standard Manthan 2026: Global flux drives new growth conversation

Through the day, the Manthan fireside chats and panel discussions sparked a unique debate on making India future-ready through the prism of energy transition, food security, technology, self-reliance

India tweaking BIT model to suit bilateral needs: FM Nirmala Sitharaman

"AgriStack is a fantastic experiment. I would think the next UPI-like big revolution shall emerge from AgriStack. Now we'll be able to have a clear picture of how much fertiliser is required"

FM Sitharaman, Pralhad Joshi lead key discussions as BS Manthan concludes

The day's sessions focused on food and energy security, digital markets regulation and the impact of AI on both industry and the creative economy, bringing the two-day summit to a close

Nirmala Sitharaman slams congress over India AI summit protest

Sitharaman criticised the Congress for staging protest at the recently concluded AI Impact Summit, calling the demonstration "inappropriate".

Congress should regret AI Summit protest like Emergency: FM at BS Manthan

Speaking at the BS Manthan, Finance Minister Nirmala Sitharaman said that the demonstration by the Indian Youth Congress has shamed Indians and undermined the efforts of India's youth