Page 119 - Nirmala Sitharaman

Kerala FM blames Centre for cutting resources by Rs 23,000 crore

Kerala Finance Minister K N Balagopal has written to Nirmala Sitharaman asking her not to include borrowings of state entities while fixing their debt limits

Lessons from a tax cut

Fears of a huge revenue loss from the 2019 reduction in corporation tax rates were exaggerated

Rupee has strengthened against British pound this year: FM Sitharaman

Global factors such as the Russia-Ukraine conflict, soaring crude oil prices and tightening of global financial conditions are major reasons for the weakening of the Indian Rupee against the US Dollar

Don't include borrowings of state entities in debt: Kerala FM to Sitharaman

Kerala FM K N Balagopal has requested Nirmala Sitharaman to exclude balances in the public account of the states and borrowings by entities run by them while determining their net borrowing capacity

Rs 14,820 crore tax demand raised under black money law, says govt

On questions on money deposited in Swiss banks by Indians, Sitharaman said: "There is no official estimate of amount of money deposited by Indian citizens and companies in Swiss banks".

PSU debt serviced by a state to be brought under its FRBM limit: Govt

Such borrowings shall be considered as those availed by the state itself for the purpose of issuing consent under Article 293(3) of the Constitution, says FM Sitharaman

Trust-based taxation system helping improve collections: FM Sitharaman

Finance minister Nirmala Sitharaman on Sunday said that the trust-based taxation system introduced by the government has resulted in improved collections and increase in the number of return filings. In her message on the 163rd Income Tax Day, the finance minister complimented the department for achieving the highest-ever revenue collection of over Rs 14 lakh crore in the last fiscal and expressed hope that the momentum would continue in the current fiscal too. Direct tax collections surged to Rs 14.09 lakh crore in 2021-22, registering a year-on-year growth of 49.02 per cent on the back of strong growth in mop-up from individual and corporation tax. For the current fiscal, the government has projected the direct tax collection at Rs 14.20 lakh crore. The finance minister said the government has addressed several legacy issues and removed structural deficiencies related to direct taxes with a view to foster ease of living and ease of doing business. The reforms introduced by the .

Govt's cryptocurrency stance: Heads I win, tails investors lose

The government has laid out clear rules on taxation of cryptocurrencies but has not said anything on what happens in cases of fraud

Centre reins in its debt at 56% for FY22 against 60% pegged in Budget

Government committed to its fiscal deficit targets, says senior civil servant

Crypto markets rebound but assets future in India uncertain: Experts

From April 1, a 30 per cent tax was applied on income from the sale of cryptocurrency. From July 1, an additional 1 per cent tax was applied in the form of tax deducted at source (TDS)

Jairam Ramesh slams FinMin, calls tax hike cruel when CPI inflation over 7%

Congress denounced Finance Minister Nirmala Sitharaman for defending the hike in GST rates and questioned the timing saying its "cruel" to hike the rates when CPI is over 7 per cent

Rupee at 80: The Indian tradition of political involvement in exchange rate

Despite the Sangh Parivar's belief that a strong rupee is good, the govt has seen the wisdom of letting it depreciate gradually

No GST on food items when sold loose, clarifies FM Nirmala Sitharaman

The clarification came amid protests and widespread criticism by Opposition Members of Parliament over foisting GST on daily-use essentials and subsequent price rise

Several supply-side measures taken in last 4 months to cool inflation: FM

Prices of major essential commodities are monitored by the government on a regular basis and corrective action is taken from time to time, she said

Top headlines: Vedanta declares dividend of Rs 19.5; HUL Q1 net rises 11%

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GST on daily use items: FM says decision taken with all states onboard

Nirmala Sitharaman said states levied sales tax or VAT on foodgrains in the pre-GST regime and the present levy on cereals, pulses, flour, curd and lassi is an exercise to curb tax leakage

Few states have sought extension of GST compensation for 5 years: FM

GST Council has recommended extending the period of levy of GST Compensation cess beyond June 2022 to cover the entire shortfall as well as servicing the back-to-back loan released to states

Rupee depreciates by 25% since Dec 2014 due to global factors: FM

The value of the rupee declined from 63.33 against a dollar on December 31, 2014, to 79.41 on July 11, 2022, Finance Minister Nirmala Sitharaman said in a reply quoting RBI data.

Covid-hit FM Sitharaman casts her vote for Presidential election in PPE kit

Official sources said she contracted Covid-19 during her Indonesia visit and is taking precautions not to infect others

Top headlines: India reports 2nd monkeypox case; rupee settles at 79.98/USD

FM Nirmala Sitharaman on Monday said the RBI has expressed concerns over cryptocurrencies saying that they should be prohibited as they can have destabilising effect on monetary and fiscal stability