Page 15 - Nirmala Sitharaman

FM Sitharaman invites Austrian firms to invest in emerging sectors in India

Finance Minister Nirmala Sitharaman on Friday urged Austrian companies to invest in India as it offers many opportunities in new and emerging sectors. Addressing the India-Austria business roundtable in the capital city Vienna, she said Austrian companies should harness many opportunities that India offers as the country has made tremendous progress as a result of the government's efforts in accelerating economic growth and equity as well as reforms to ensure the ease of doing business. "I also highlighted emerging opportunities in new and emerging sectors such as green hydrogen, electric vehicles, digital public infrastructure and innovation. India is an excellent gateway to Asia and the global south," she said. Overall, she said, the prospects for a stronger India-Austria, economic and commercial partnership are very bright. Stressing that India has the manufacturing base and scale, she said, several Austrian companies have set up capability centres in India to leverage the ...

'Eagerness' on both sides to conclude India-UK FTA: FM Sitharaman

Finance Minister Nirmala Sitharaman on Wednesday wrapped up the 13th Ministerial India-UK Economic and Financial Dialogue (EFD) with her British counterpart, Chancellor Rachel Reeves, on a note of positivity and eagerness to conclude the bilateral Free Trade Agreement (FTA) negotiations soon. The annual dialogue, held at the London Stock Exchange, covered a broad range of issues which the UK Treasury said resulted in a GBP 400 million of trade and investment boost involving Indian firms such as Paytm and Mphasis unveiling investment plans for the UK market. A resulting joint statement from the EFD sets out plans to generate growth, improve bilateral financial services ties and deepen policy cooperation on the UK Industrial Strategy, tax, sustainable finance and illicit finance. Areas for collaboration on defence were also identified, with the finalisation of the India-UK Defence Industrial Roadmap set to strengthen ties between industrial sectors and integrate supply chains. I valu

UK to support India in the internationalisation of rupee currency

The FM is currently in the UK for the 13th Economic and Financial Dialogue between the two countries

India to be 6th largest insurance market by 2032, says FM Sitharaman

Sitharaman in a tweet highlighted decriminalisation and reduction in compliance burden for businesses and individuals among reforms undertaken by the government in the last ten years

FM Sitharaman woos UK investors, highlights India's growth, reform push

Finance Minister Nirmala Sitharaman has chaired an India-UK Investor Roundtable in London, attracting around 60 UK investors representing various pension funds, insurance companies, banks and other financial institutions. According to the Ministry of Finance, the high-level roundtable on Tuesday evening outlined the priorities of the government for enabling sustained economic growth and investment opportunities, with the policy support that is shaping "New India". It highlighted the efforts being made by the ministry to pursue process and governance reforms to reduce compliance burden and ease regulation for facilitating an enabling environment for business and investments. India offers a compelling growth opportunity for foreign banks and the government of India is actively encouraging foreign investment in the banking sector, Sitharaman told the gathering. With an expanding middle class and strong and stable policy environment, the Union Finance Minister said that India is set to

Speeding up fast-track mergers: Govt proposes wider scope, action awaited

Company Law experts said listed companies were unable to take the benefit of the fast-track mechanism for mergers with a wholly owned subsidiary since approval of all shareholders was required

India's growth trajectory remains strong, says FM Nirmala Sitharaman

"Our government remains committed to continued reforms, maintaining macroeconomic stability, and ensuring that growth benefits every section of society," she said

India's domestic demand big magnet amid US trade tariffs, says Sitharaman

Finance Minister Nirmala Sitharaman said on Tuesday that the resilience of the economy and strength of domestic demand will continue to make India an engine of growth amid the rapidly evolving global trade landscape as a result of US tariffs. In an interaction entitled the Opportunities and challenges for India's quest to become a developed economy by 2047' at the High Commission of India in London, she asserted that the economy was well placed to capitalise on domestic efficiencies and competitiveness as it tackles global headwinds. The world has seen depressed growth for over several years; earlier, it was low interest for long and now it's going to be low growth for long, and that's not happy news for anybody, said Sitharaman, who is here on her first UK visit in her current Union Cabinet term. India has maintained its fastest growing economy tag continuously now for five years and we still think that momentum may moderate a bit, but it will still be India who will keep that grow

Nirmala Sitharaman arrives in London at start of six-day Europe tour

Finance Minister Nirmala Sitharaman arrived in London on Monday evening at the start of a six-day official tour of Europe from April 8-13, which will also cover Austria. The Ministry of Finance announced her arrival with a social media post after the Indian High Commissioner to the UK, Vikram Doraiswami, received the minister at Heathrow Airport. Sitharaman is scheduled to kick-start her UK visit with an in-conversation session at the High Commission of India in London in partnership with the London School of Economics (LSE) on Tuesday. This will be followed by the 13th Ministerial Round of the India-UK Economic and Financial Dialogue (EFD) with her UK counterpart, Chancellor Rachel Reeves, on Wednesday. Both leaders are expected to announce and launch various reports and new initiatives for further bilateral collaborations, according to an official pre-visit Indian government statement. The 13th EFD is a significant bilateral platform between the two countries that offers ...

Lenders add 25K beneficiaries under Tarun Plus category of Mudra Yojana

Lenders have added about 25,000 beneficiaries under the Tarun Plus category of PM Mudra Yojana (PMMY) in a 4-month short period of FY25 where borrowers were given enhanced loans up to Rs 20 lakh. The scheme was announced by Finance Minister Nirmala Sitharaman in her last July Budget. As per the Budget 2024-25 announcement, loan limit was doubled to Rs 20 lakh for those entrepreneurs who have availed and successfully repaid previous loans under the 'Tarun' category. Following the Budget announcement, the Tarun Plus scheme was notified on October 25, 2024. As many as 24,557 new borrowers took loan under the Tarun Plus category amounting to Rs 3,790 crore in a short period of four months during FY25, Financial Services Secretary M Nagaraju told media while briefing about achievements of PMMY. He further said that generally Rs 5-6 lakh crore loans are sanctioned under the scheme in a year of late. The PMMY was launched on April 8, 2015 by Prime Minister Narendra Modi with the goal of

Govt's FY25 capital expenditure may surpass RE of Rs 10.18 trillion

To meet the RE would require a 44 per cent year-on-year (Y-o-Y) increase in capex

US reciprocal tariffs: An opportunity for TN in jolt to US footwear majors

According to industry experts, the higher tariffs on China and Vietnam will turn out to be most beneficial for Tamil Nadu

No fee for updating nominees in PPF accounts: FM Nirmala Sitharaman

Previously, it had been reported that financial institutions were charging a fee for updating or modifying nominee details in PPF accounts

TMC MP links Sunita Williams to Gujarat politics, Sitharaman hits back

TMC MP Nadimul Haque demands Bharat Ratna for Sunita Williams and mentions her late cousin Haren Pandya, the former Gujarat minister leader who was assassinated in 2003

'Laboured and tortuous': Chidambaram on Sitharaman's explanation on capex

Senior Congress leader P Chidambaram on Tuesday said Finance Minister Nirmala Sitharaman gave a "tortuous" explanation to his question about capital expenditure and asserted that the numbers "conclusively" proved that there was a "cut" in capex during 2024-25. Chidambaram said this in a statement late this evening while responding to the answers given by Sitharaman in the Rajya Sabha. The former finance minister said Sitharaman has given a "laboured and tortuous" explanation to a simple question on what was the budget estimate for capital expenditure in the 2024-25 budget and what is the estimate at the end of year. "There is a reduction (cut), and I asked in the Rajya Sabha what are the reasons for the cut? FM could have listed the reasons and it is for the people to decide whether the reasons are acceptable or not. "Instead, she has questioned the very comparison of BE and RE. I am astonished that the Hon'ble FM should say that comparison of BE and RE is 'flawed'. If BE and RE ar

FinMin to hold review meeting with banks on Thursday on govt schemes

The meeting will be chaired by the Department of Financial Services secretary M Nagaraju

Raising money as important as managing debt: FM Nirmala Sitharaman

FM says, when it comes to finances of the country there can be no politics

Capex not cut, states got Rs 1.46 trn special assistance in FY25: FM

Sitharaman said that state governments have requested for continuing the scheme and enhancing the outlay for the scheme from time to time. In FY25, a total of Rs 1,53,673 crore was earmarked for this

Capital expenditure not cut, rises to Rs 11.21 trn for FY26: Sitharaman

Finance Minister Nirmala Sitharaman on Tuesday said the capital expenditure has not been cut, but has gone up to Rs 11.21 lakh crore for 2025-26 fiscal, and there has been proportional increase in loans given to states for capital expenditure for the same year. Replying during the Question Hour in Rajya Sabha, Sitharaman said the capital expenditure was at Rs 11.11 lakh crore in 2024-25. "Actually, (in) the budget this year..., it has gone up to Rs 11.21 lakh crore. So, the capital expenditure has not been cut at all," she said. Loans to states under the scheme for interest-free 50-year special assistance for capital expenditure has gone up proportionately. "So, cutting down the capital expenditure is not the case with us," she added. Sitharaman was responding to a question by senior Congress leader and former finance minister P Chidambaram. Chidambaram sought to know the reason for reduction in the capital expenditure for FY25 in the revised budget estimate to Rs 10,18,429 crore

India's forex reserves strong, can cover 11 months of imports: Sitharaman

Nirmala Sitharaman's remarks came after several opposition members raised concerns about the country's financial position, particularly regarding fluctuations in forex reserves