Page 10 - Nirmala Sitharaman

Slabs, cess, and trade-offs: India's GST faces a fork in the road

With rate slabs ripe for consolidation and the compensation cess at a crossroads, India's GST revamp must balance political economy, revenue stability, and taxpayer fairness

FM Sitharaman flays tax officials, says OGE issuance delays 'unpardonable'

On Income Tax Day, FM Nirmala Sitharaman urges decisive action on pending tax cases, refunds, and grievance redress, calling for accountability and timely implementation

Parl panel report on new Income Tax Bill, 2025 to be tabled in LS on Monday

A report of the parliamentary committee set up to scrutinise the new Income Tax Bill, 2025, which would replace the six-decade old Income Tax Act, is scheduled to be tabled in the Lok Sabha on Monday. The 31-member Select Committee, chaired by BJP leader Baijayant Panda, was appointed by Lok Sabha Speaker Om Birla to scrutinise The new Income Tax Bill, 2025, which was introduced by Finance Minister Nirmala Sitharaman on February 13 in the Lok Sabha. The Committee has made 285 suggestions and at its meeting on July 16 adopted the report on new I-T Bill, 2025, which will now be tabled in the House for further action. The simplified Income Tax Bill, which is half the size of the 1961 Income Tax Act, seeks to achieve tax certainty by minimising the scope of litigation and fresh interpretation. The new bill, introduced in the Lok Sabha, has a word count of 2.6 lakh, lower than 5.12 lakh in the I-T Act. The number of sections is 536, as against 819 effective sections in the existing ...

Delhi to receive Rs 600 cr Central funds under special assistance scheme

Delhi Chief Minister Rekha Gupta said the funds will be used to accelerate development projects across the city

From educator to minister, FM Nirmala Sitharaman opens up on her journey

Finance Minister Nirmala Sitharaman, in a candid conversation in Shillong, reflects on her journey in education, personal values, North East development, and governance

Andhra CM meets Sitharaman; seeks Rs 10,000 cr support for various projects

Andhra Pradesh Chief Minister N Chandrababu Naidu on Wednesday met Union Finance Minister Nirmala Sitharaman and sought additional financial support of Rs 10,000 crore for various projects. On his second day of the visit, the Telugu Desam Party (TDP) chief -- a key NDA ally -- highlighted that the state is still facing a deficit of financial resources due to bifurcation, an official release said. Naidu requested the central government to grant an additional allocation of Rs 10,000 crore under the Special Assistance to States for Capital Investment (SASCI) scheme for 2025-26. He sought the release of the second tranche of funds as a grant to Amaravati capital, and appealed to the Union Minister to make up for the revenue deficit faced by the state under the 16th Finance Commission. He submitted a memorandum requesting financial support for various state projects. The chief minister informed Sitharaman that the construction of Amaravati requires a total of Rs 79,280 crore, with work

GCC revolution needs infra, policy stability, and skilled human capital

The deeper question, however, is whether India's human capital is prepared for a shift up the value chain

Govt to give best of attention to promote GCCs: FM Nirmala Sitharaman

Finance Minister Sitharaman says the Centre will offer tax, legal and administrative support to boost GCCs in India and guide states to develop hubs in tier 2 cities

FM Sitharaman lauds Meghalaya's inclusive growth, women's empowerment

Reflecting on her visit to the aspirational district of Ri-Bhoi and her engagements in Shillong, she highlighted how Meghalaya's development journey reflects the spirit of PM's vision of Viksit Bharat

Pilot stage of internship scheme ending soon: FM Nirmala Sitharaman

Sitharaman said that India was a country going through a decade or more of demographic dividend

FM Sitharaman hails Meghalaya's growth, praises full use of SASCI funds

Union Finance Minister Nirmala Sitharaman on Friday praised Meghalaya's progress under Chief Minister Conrad K. Sangma, calling the state a model of effective and purposeful development. She highlighted the state's exemplary utilisation of its entire allocation of Rs 5,400 crore under the Special Assistance to States for Capital Investment (SASCI), setting an example for other states to follow. Speaking at a programme, Sitharaman said, "While some states are unable to fully utilise their shares, Meghalaya has effectively used its entire allocation to build capital assets. I will put on record my appreciation of Meghalaya's efforts." She reaffirmed the Centre's commitment to the Northeastern region, adding, "The government looks at the region as one to empower, act, strengthen and transform." The FM also pointed out key development achievements in the state, including the construction of over 540 km of roads and a five-fold increase in optical fibre coverage since 2014. She praised

Globalisation must be tempered to local needs: FM Nirmala Sitharaman

Finance Minister Nirmala Sitharaman calls for globalisation that aligns with local requirements, emphasising humanism and ethical practices at the IICA North East Conclave in Shillong

NBFC credit should reach 50% of SCBs' volume by 2047: FM Nirmala Sitharman

The finance minister further said that financial inclusion cannot be used as a pretext for "financial exploitation"

India diversifying markets amid trade restrictions: FM Nirmala Sitharaman

FM Nirmala Sitharaman at the BRICS meeting says India is diversifying markets, focusing on infrastructure-led growth and structural reforms to improve competitiveness and productivity

FM Sitharaman discusses bilateral ties with Russian, Chinese counterparts

Finance Minister Nirmala Sitharaman held a series of bilateral meetings, including with Russian and Chinese counterparts, and discussed issues of bilateral cooperation and interests. These meetings were held on the sidelines of the BRICS Finance Ministers and Central Bank Governors meeting in Rio de Janeiro. During a meeting with Anton Siluanov, Finance Minister of Russia, Sitharaman expressed gratitude for the support extended by President Vladimir Putin after the Pahalgam terror attack, the finance ministry said in a post on X. The two leaders discussed India-Russia long-standing partnership. The finance minister observed that India and Russia enjoy exemplary levels of mutual trust and understanding and our Special and Privileged Strategic Partnership remains resilient and steadfast, it said. The two sides also discussed issues of bilateral cooperation, including cooperation in the financial sector, along with matters related to NDB. In another bilateral meeting with her Chines

Global South should act collectively on key economic challenges: Sitharaman

Finance Minister Nirmala Sitharaman on Friday emphasised the need for decisive collective action by the Global South to deal with multiple uncertainties arising out of fiscal constraints in several economies and evolving geopolitical dynamics. She was speaking at the Annual Meeting of Board Governors of the New Development Bank (NDB) at Rio De Janeiro, Brazil on 'Driving Development: Fostering Innovation, Cooperation, and Impact through a Multilateral Development Bank for the Global South'. Sitharaman said the meeting is taking place at a defining moment for the Global South, as the world grapples with multiple uncertainties arising from fiscal constraints in several economies, climate transition issues and evolving geopolitical dynamics. "In response to these challenges, our collective action must be decisive, inclusive, and forward-looking," she said. The New Development Bank (NDB) has been established by BRICS nations. She noted that MDBs play a pivotal role in complementing ou

NDB mandate must focus on agility, tech and sustainable growth: Sitharaman

Finance Minister Nirmala Sitharaman on Friday said in today's fast changing world, the mandate for New Development Bank (NDB) must be renewed with focus on greater agility, technological advancement and efficiency. Observing that NDB has played an important role in reshaping the financial landscape for the global South, she said, it has approved more than 100 projects, and it has approved more than USD 35 billion in financing across member countries, including key Indian initiatives like the metro rail, renewable energy and water management. NDB is not just a source of capital, it is a platform for shaping a more equitable and responsive global financial architecture, she said during the NDB Governors Seminar on the theme 'Challenges for Financing Sustainable Development for the Global South' in Rio de Janeiro, Brazil. "In today's fast changing world, its mandate must be renewed. The NDB's mandate must be renewed with focus on greater agility, technological advancement and efficienc

SBI's digital transformation immensely benefited customers: FM Sitharaman

Digital transformation undertaken by the State Bank of India (SBI) in the last decade has been immensely beneficial to its customers, Finance Minister Nirmala Sitharaman said on Tuesday. Congratulating SBI on completing 70 years of service to the nation, she expressed hope that the Bank will continue to innovate and empower as India continues its journey towards 'Viksit Bharat' by 2047. "With over 23,000 branches, 78,000 Customer Service Points (CSPs) and 64,000 ATMs, SBI's footprint today is formidable and it is truly the Banker to every Indian. The digital transformation it has achieved in the last decade has been immensely beneficial to its customers," Sitharaman said in a post on X. SBI has been instrumental in supporting 1.5 crore farmers, 1.3 crore Self-Help Groups (SHGs) led by women, 32 lakh street vendors under PM SVANidhi, 23 lakh MSMEs, and lakhs of artisans across various schemes, she said. SBI has over 15 crore Jan Dhan Accounts, 14.65 crore PM Suraksha Bima Yojana, 1.

Centre to issue new framework to expand GCCs beyond metro cities

Talks ongoing with Fortune 500 firms to set up new centres

International credit rating methods must evolve: FM Nirmala Sitharaman

FM Sitharaman says India's sovereign rating understates macro strength and urges reform in global rating criteria to unlock more private capital and lower financing costs