Page 103 - Nirmala Sitharaman

FY24 disinvestment target to be around Rs 60K-cr, big ticket deals unlikely

The government's decision to not list any new entity for privatisation may be because of the prevailing market conditions

PM Modi to hold pre-Budget meeting with economists, sectoral experts

Ahead of the Union Budget, Prime Minister Narendra Modi will meet economists and sectoral experts at NITI Aayog on Friday to discuss the state of the economy and measures to accelerate growth which is estimated to drop to 7 per cent, a senior government official said. The official further said that the meeting will also be attended by several Union ministers. Finance minister Nirmala Sitharaman will present the 2023-24 Budget in Parliament on February 1, 2023 Hit by weakening demand, the Indian economy is expected to grow at a slower rate of 7 per cent in the current fiscal ending March 2023, setting the stage for the country losing the fastest-growing major economy tag. The 7 per cent expansion projected in the first official estimate released by the statistics ministry compares with 8.7 per cent gross domestic product (GDP) growth in 2021-22. The projections are much lower than government's earlier forecast of 8-8.5 per cent growth but above the Reserve Bank's projection of 6.8

Ease lending norms for artisans, weavers: Amit Mitra to FM Sitharaman

For artisans, Mitra said, out of 48,153 applications, 29,656 were rejected in the same six-month period, a rejection rate of 62 percent

Energy of young minds keeps country motivated: FM Nirmala Sitharaman

Union Finance Minister Nirmala Sitharaman on Sunday said it is the energy of the young minds which motivates the country to keep moving forward. She also said the country now has a leadership that is not corrupt and works for the good of the people. "It is so invigorating. I am so touched by the presence of such young brains. It does give a lot of motivation when you have such energy. It is that energy that keeps India going forward," Sitharaman said while addressing a 'Yuva Shakti Samvad' here. She said the Centre is working on establishing a medical college in every district of the country and increasing medical and engineering seats by setting up more institutes. Asked about digital university, Sitharaman said significant progress has been made on this front. "Several far-flung areas that lack coverage of the conventional universities. So Prime Minister Narendra Modi envisioned the concept of digital university to utilize technology for ensuring the reach of universities to thes

Govt engaging with diff layers to ensure EoDB aid reach ground level: FM

Finance Minister Nirmala Sitharaman on Sunday said the central government is engaging with states and local administrations to ensure that benefits of Ease of Doing Business (EoDB) initiatives reach the ground. EoDB is not just the Centre's responsibility but that of states as well, she added. "Central Government can bring in rules, meaningful regulations, remove many of the burdens and give it as a policy. It can be implemented in Union Territories for which the Government of India is directly responsible but further down it is the State governments, which also equally have to do it," she said. Similarly, municipal areas will have to do their part and panchayats will have to also pitch in, Sitharaman said while interacting with students here. The Government of India is engaging with different layers of administration so that this ease continues across the country, she noted. The World Bank's Ease of Doing Business Report 2019 placed India at the 63rd spot in Doing Business, compa

Sitharaman disburses loans to street vendors, small scale entrepreneurs

Loans worth Rs 2,500 crore were given in a single day to street vendors, small scale entrepreneurs and cattle rearers at a credit outreach program here on Sunday. Union Finance Minister Nirmala Sitharaman and Lok Sabha Speaker Om Birla handed over the cheques to some beneficiaries. Officials said others will receive their loan amounts during the course of the day. The loans were given under schemes like Pradhan Mantri Svanidhi Yojana, Mudra Yojana and Pashupalak Kisan Credit Card. Addressing the event at Dusshera Ground here, Sitharaman said the prime minister himself has given guarantee for loans under the Pradhan Mantri Svanidhi Yojana, so one does not need to produce any document for guarantee. Loans of at least Rs 68 crore are going to be distributed among cattle rearers (Pashupalaks), she added. Many others are being given credit sanction for various business and agriculture purposes, she said. The finance minister also urged women to form Farmer Producer Organisations (FPO

Energy of young minds motivates country to keep moving forward: Sitharaman

Finance Minister Nirmala Sitharaman on Sunday said it is the energy of the young minds which motivates the country to keep moving forward. She also said the country now has a leadership that is not corrupt and works for the good of the people. "It is so invigorating. I am so touched by the presence of such young brains. It does give a lot of motivation when you have such energy. It is that energy that keeps India going forward," Sitharaman said. She was addressing a 'Yuva Shakti Samvad' here. The finance minister urged the youths to remember those who fought for the country as well as the armed forces who are standing tall to thwart any outside aggression. To become a member in the league of developed nations, corruption-free leadership is important, she said.

FM Sitharaman to participate in credit outreach program in Kota on Jan 8

Union Finance Minister Nirmala Sitharaman is scheduled to participate in a credit outreach program here on Sunday, an official statement said. The finance minister and Lok Sabha Speaker Om Birla, who is also the MP from Kota - Bundi, will distribute loans to street vendors, small scale entrepreneurs and cattle rearers under Pradhan Mantri Swanidhi Yojana and Mudra Yojana at Dussehra Ground. Entrepreneurs dealing with manufacturing, food processing and public services would also be provided a chance to enhance their financial strength, as per the statement from speaker Om Birla's camp office here. Cattle rearers (pashupalak) have also been ensured loans of up to Rs 1.60 lakh through Pashupalak Kisan Credit Card and formalities for the same have been completed in coordination with banks, it added.

Optional tax regime aims to provide relief to low-income bracket people: FM

Finance Minister Nirmala Sitharaman on Friday said the optional income tax regime with seven tax slabs was brought in by the government to ensure lower rates for those in the low income bracket. Sitharaman said in the old tax regime, every tax assesses can claim about 7-10 exemptions and the income tax rates vary between 10, 20, and 30 per cent, depending on income threshold. The minister said along with the old tax regime, the government has come up with a parallel system which has no exemptions, but with simpler and more favourable tax rates. "The reason why I had to bring in seven slabs was to make simpler and lower rates for those who are in the lower income (bracket)," Sitharaman said. She was speaking at an event to launch the book 'Reform Nation', authored by Observer Research Foundation Vice President Gautam Chikarmane. The government in Budget 2020-21 introduced the optional income tax regime, under which individuals and Hindu Undivided Families (HUFs) were to be taxed at

How sustained 6.5% growth for the rest of the decade can be realistic

Growth beyond 6% can happen, but there are constraints on both fiscal and monetary policy, which must focus on reducing the current account deficit, the fiscal deficit and inflation, writes T N Ninan

Budget 2023-24: Govt may go easy on capital expenditure growth in FY24

Outlay for next year likely to be around Rs 9.5 trillion

Banks, FIs should play key role in financing NIP projects: DFS secy

NIP has expanded to over 9,000 projects covering 34 infrastructure sub sectors

Welcome Supreme Court judgement on demonetisation: FM Nirmala Sitharaman

Finance Minister Niramala Sitharaman on Monday welcomed the Supreme Court judgement upholding the decision of the Modi government to demonetise high value currency notes in November 2016. On November 8, 2016 Prime Minister Narendra Modi had announced demonetisation of old Rs 1,000 and Rs 500 banknotes and one of the key objectives of the unprecedented decision was to promote digital payments and curb black money flows. "Welcome the Hon'ble Supreme Court's judgement today on Demonetization. A five-judge Constitution Bench (via a 4-1 majority) has upheld the Demonetization after carefully examining the issue & has dismissed several petitions challenging the decision," Sitharaman said in a series of tweets. "There were consultations between the Centre & RBI for a period of 6 months. There is a reasonable nexus to bring such a measure & it satisfies the test of proportionality. Decision-making process cannot be faulted merely because the proposal emanated from the Centre," she

Centre's share of cess and surcharges nearly double in three years

Experts say finance commission needs to provide clarity on whether cess should be shared with states

Finance Minister Nirmala Sitharaman discharged from AIIMS, Delhi

Finance Minister Nirmala Sitharaman has been discharged from AIIMS where she was admitted with symptoms of viral fever earlier this week, sources said. Sitharaman was admitted to the All India Institute of Medical Sciences (AIIMS) here on Monday morning with what was described as symptoms of viral fever. She has now been discharged from the hospital, sources said on condition of anonymity.

FM Sitharaman admitted to AIIMS, to be kept under observation overnight

She was admitted with symptoms of viral fever and is recovering, say sources

India recognised as pharmacy of world as we produce affordable drugs: FM

India is recognised as the pharmacy of the world as the country produces global standard medicine at affordable cost, Union Finance and Corporate Affairs Minister Nirmala Sitharaman said on Saturday. India supplies about 50 per cent of all of Africa's demand for generic medicine, 40 per cent of USA's need for generic medicine and 25 per cent of the UK's requirement of all medicines, she said at the 35th annual convocation of The Tamil Nadu Dr MGR Medical University here. Besides, she said India produces about 60 per cent of global vaccines and 70 per cent of the World Health Organisation's vaccines for essential immunisation schemes. Talking about the COVID-19 vaccination programme undertaken by India, she said, "The Centre, along with state governments, executed vaccination at a rapid pace that by the time Omicron variant of Covid attacked us, we were prepared to face it... India could stand up to face the challenge because of the preparedness of a democratically-elected ...

NIIF, India's first state-backed fund, faces questions from government

Critics inside and outside the government complain that NIIF - which handles about $4.3 billion in assets - lacks vision, decisiveness and the ability to win over investors

LIVE: Coronavirus' changing nature continues to pose danger, says Mandaviya

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Tax mop-up enough to fund extra expenses: FM Nirmala Sitharaman

Stresses Budget estimates were made before Ukraine war