Page 12 - Nirmala Sitharaman

FM to meet GST and income tax officers to resolve field-level issues

The meetings aim to review ground-level implementation of tax policies, resolve bottlenecks in taxpayer services, and improve ease of doing business

11 years of Seva, Sushasan, and Garib Kalyan: From stress to strength

From twin-deficit stress to five balance sheet strength, India's economic turnaround reflects 11 years of focused policy reforms under Prime Minister Modi's leadership

Ex-AAP MLA's wife files defamation suit against FM Sitharaman in Delhi

A Delhi court on Thursday fixed on June 26 the criminal defamation complaint filed by Lipika Mitra, wife of former AAP MLA Somnath Bharti, against Union Finance Minister Nirmala Sitharaman for allegedly making statements over their marital discord. Additional Chief Judicial Magistrate Paras Dalal deferred the hearing on the request of Sitharaman's counsel. The judge also directed Mitra's counsel to provide a copy of the complaint to the opposite party. "Time sought by the proposed accused side to file vakalatnama (document regarding hiring of the lawyer). "Although the summons have been received back duly served. The proposed accused side has sought a copy of complaint. The complainant side agrees to supply the soft copy of the same along with the link of the purported defamatory material/interview. Matter be fixed for consideration/arguments on June 26, 2025," the judge said. Sitharaman has been accused of making "defamatory, false, and malicious statements" at a press conference

Reduce unclaimed assets: FM Sitharaman to financial sector regulators

At the 29th FSDC meeting, FM Nirmala Sitharaman pushed for swift return of unclaimed financial assets and called for simplified, unified KYC norms across all sectors

FM asks regulators to expedite refund on unclaimed deposits, streamline KYC

Finance Minister Nirmala Sitharaman on Tuesday asked regulators and departments to expedite the refund of unclaimed deposits to rightful owners and streamline the KYC process. Chairing the 29th meeting of the Financial Stability and Development Council (FSDC) here, she emphasised that interest of common citizens to be kept in mind and expeditiously refund the claims of the rightful claimants. She exhorted the Council to take proactive steps to ensure that citizens should have a seamless experience with respect to KYC processes across the financial sector, the finance ministry said in a statement. There is a need for common KYC norms, simplification and digitalisation of the KYC process including digital onboarding for Non-Resident Indians (NRIs) including PIOs and OCIs, in the Indian securities market. The minister urged the regulators and departments to expedite the process of refund to rightful owners of unclaimed amounts by holding special district-level camps. This drive is to

SPMCIL delivers 3.4 metric tonnes of refined gold to RBI in FY25: FM

Sitharaman added that SPMCIL also refines silver and gold received from institutions such as the Tirumala Tirupati Devasthanams and the Vaishno Devi Shrine Board

FM Sitharaman hails SPMCIL, hopes it to get status of Navratna soon

Finance Minister Nirmala Sitharaman on Monday lauded the performance of the Security Printing and Minting Corporation of India Limited (SPMCIL) and expressed confidence that it will soon become a Navratna state-owned company. Currently, SPMCIL, under the administrative control of the Department of Economic Affairs of the Finance Ministry, is a Schedule 'A' Miniratna Category-I company of the Government of India. The government grants Maharatna, Navratna and Miniratna status to Central Public Sector Enterprises (CPSEs) based on certain pre-defined criteria, including financial parameters such as track record of profit and net worth. Inaugurating the Corporate Office of SPMCIL, Sitharaman appreciated the works being done by the CPSE, which include printing of currency notes, minting of coins for circulation and commemorative coins. She hoped SPMCIL would also achieve Navratna status, given its consistent financial performance. Following its capital restructuring in 2015, the company

SBI pays Rs 8,076.84 cr dividend to govt, cheque presented to FM Sitharaman

The country's biggest lender State Bank of India (SBI) on Monday paid a dividend of Rs 8,076.84 crore to the government for the financial year 2024-25. The dividend cheque was presented to Finance Minister Nirmala Sitharaman by SBI Chairman C S Setty in the presence of Financial Services Secretary M Nagaraju and Finance Secretary Ajay Seth. "Smt @nsitharaman receives a dividend cheque of Rs 8076.84 crore for FY 2024-25 from Shri C S Setty, Chairman-@TheOfficialSBI," the finance minister's office said in a post on X. SBI declared a dividend of Rs 15.90 per share for the financial year 2024-25, higher than Rs 13.70 per equity share distributed for the previous year. SBI had paid a dividend of Rs 6,959.29 crore to the government last year. During 2024-25, the bank earned a record net profit of Rs 70,901 crore, as against Rs 61,077 crore in the preceding year, registering a 16 per cent increase.

Finance ministry meets Moody's execs, makes case for ratings upgrade

Moody's said that Pakistan-India tensions, including the flare-up earlier in May, would weigh on Pakistan's growth more than on India's

FM flags drug menace as major national threat, seeks stronger DRI action

Nirmala Sitharaman says drug trafficking is the biggest threat to the nation, urging DRI to target criminal masterminds and coordinate with state police more effectively

Narcotics biggest threat as it makes way into states, towns: Sitharaman

Finance Minister Nirmala Sitharaman has warned that narcotics are reaching every corner of India, calling for sharper intelligence, inter-agency coordination, and swift enforcement

GST Council's likely agenda: Intermediaries may get exporter status

"With the Law Committee's approval expected shortly, the GST Council's final decision in its next meeting could mark a turning point for India's intermediary-driven export sectors," said the official

Grameen Credit Score framework likely to be launched in next 3 months

The GCS is expected to serve as a supplementary tool to existing credit bureaus, allowing banks, microfinance institutions, and other lenders to better evaluate the creditworthiness of rural borrowers

Profits earned through ethical means create wealth for nation: FM

Finance Minister Nirmala Sitharaman on Saturday said the government led by Narendra Modi refers entrepreneurs as wealth creators as the profit earned by them through ethical ways help drive development goals. "Wealth creation in India has never been a taboo in India. We promoted wealth creation. We would want wealth creation. That is why entrepreneurs in India, under Prime Minister Modi, we refer them as wealth creators. They are not thieves," she said while addressing the National Commemorative Seminar on 60 years of Pandit Deendayal Upadhyaya Integral Humanism Lectures. Pandit Upadhyaya was one of the founding members of Jan Sangh from which the Bharatiya Janata Party (BJP) emerged in April 1980. "We would like to have profit created by genuine ethical practices, and that is what is going to create wealth for the nation. And once you have wealth, you give dignity of labor, you provide for education, you provide for skilling, and you lift the tempo and the spirit of the nation," sh

ADB commits up to $4.5 billion in annual sovereign loans for India

ADB President Masato Kanda has said the bank is ready to lend India up to $4.5 bn annually, with added private sector funding, to support clean energy, rural development, and Viksit Bharat 2047 goals

India fastest-growing economy for fourth year running: FM Sitharaman

FM highlights 7.4% Q4 GDP growth driven by industry, services and agri; calls for faith in India's abilities and urges reforms to eliminate corruption and ease regulation

Govt outperforms on fiscal deficit, brings it down to 4.77% of GDP in FY25

Capital expenditure for FY 2024-2025 at Rs 10.5 trillion stood at 103.3 per cent of the revised estimate for the year, CGA data showed

Tech integration in Op Sindoor a global case study: FM Nirmala Sitharaman

The finance minister said on Thursday that tech-led coordination during Operation Sindoor marks a turning point in India's defence strategy

Industries with AI to propel India to 3rd-largest economy: FM Sitharaman

Finance Minister Nirmala Sitharaman says tech adoption in sectors like AI and Web3 will help boost productivity and move India towards becoming the third-largest economy

FM meets ADB President; seeks support for integrated rural prosperity

Finance Minister Nirmala Sitharaman on Thursday met Asian Development Bank (ADB) President Masato Kanda and sought enhanced support for integrated rural prosperity initiatives, including job creation. The discussions focused on shaping the partnership in line with Prime Minister Narendra Modi's vision for Viksit Bharat by 2047. The Indian delegation emphasised the 'Budget Plus' and 'Finance Plus' approach for driving systemic change and fostering innovation to align with India's 'reform, perform and transform' approach, while urging for agility in responding to emerging national priorities, the finance ministry said in a post on X. Stressing that the 'Antyodaya' principle which aims at ensuring development reaches the last person in society she asked ADB to support integrated rural prosperity measures. "She urged deeper ADB support for integrated rural prosperity measures, including creation of jobs and local entrepreneurship, and fostering innovation in agriculture, to transform