Page 156 - Nirmala Sitharaman

Depositors of PMC, other banks to benefit from DICGC Bill: FM Sitharaman

We want to make sure within 90 days depositors get the money so that small depositors who make up 98% of all depositors will get their money in time, she said

Ending retro tax to boost $5-trn economy dream: FM Nirmala Sitharaman

Rajya Sabha returns Bill to Lok Sabha amid Opposition protests

Govt mobilises Rs 31,290 crore from Sovereign Gold Bond Scheme: FM

The government has collected Rs 31,290 crore from Sovereign Gold Bond (SGB) Scheme since its launch in 2015, Finance Minister Nirmala Sitharaman informed Parliament on Monday.

Govt buries retrospective tax, introduces Bill to amend Income Tax Act

Bill to scrap the law tabled; proposed refund at around Rs 8,100 crore

Bill to nullify retrospective tax passed in LS amid protests by Opposition

The bill seeks to do away with the contentious retrospective tax provision

FM invites Aussie investors to tap opportunities in infrastructure sector

Finance Minister Nirmala Sitharaman on Thursday invited Australian investors to tap opportunities in India's infrastructure sector which needs funding to the tune of Rs 111 lakh crore over five years. Australia is an important partner of India as a strong liberal democracy with shared diaspora and bilateral trade and investment. The bilateral trade has been growing steadily since past decade and there exists immense potential for the two countries to enhance it further in light of the wide spectrum of complementarities and strengths in the post-COVID period, Sitharaman said during a meeting with Tony Abbott, Special Envoy of Australian Prime Minister. Abbott complimented India for undertaking comprehensive and sustained reforms programme and said the country has continued to demonstrate robust growth despite the disruptive impact of the pandemic, a finance ministry statement said. Sitharaman further highlighted recent economic reforms and easing of FDI norms in India, which provide

Govt to amend Income Tax Act to nullify retrospective tax demands

No retro tax demand for indirect transfer of Indian assets made before May 28, 2012; govt also proposes to refund the amount paid in these cases without any interest thereon

Govt, RBI, Sebi watching markets closely: FM Nirmala Sitharaman

FM said they are taking necessary measures to ensure orderly functioning of the stock markets and maintain macro-financial stability

Avg annual revenue collection from tobacco products at Rs 53,750 cr: FM

Finance Minister Nirmala Sitharaman on Tuesday told the Rajya Sabha that the average annual revenue collection, including GST and excise duty, from tobacco products, stands at about Rs 53,750 crore. In reply to a question, the minister also said the GST rates, including compensation cess rates, on goods are fixed on the basis of the recommendations of the GST Council. Answering supplementary questions, she said many non-governmental organisations (NGOs) and consumer education forums have suggested to increase levies on tobacco products considering the health impact. "In the GST Council, we have formed a Group of Ministers (GoM). It has been given the terms of reference to see if on the capacity of a producing unit, where evasion is high, we can consider looking at an increase in the price. "Such items like tobacco have also been put into that list... We will wait for the GoM to come back with its recommendations," she said. Prasanna Acharya (Biju Janata Dal) had asked her if the .

Sitharaman as FM: Some positive surprises, a few works in progress

Tax, revenue and macroeconomic trends are encouraging, but more needs to be done on privatisation, clean-up of banking mess, anti-protectionism, and de-politicisation of govt bodies, writes T N Ninan

Rahul urges FM to extend moratorium on repayment of short-term crop loans

Congress leader Rahul Gandhi on Thursday wrote to Finance Minister Nirmala Sitharaman urging the Centre to extend the moratorium on repayment of short-term crop loans of farmers to December 31

Rahul writes to FM seeking relief to farmers on repayment of crop loans

Congress leader Rahul Gandhi on Thursday wrote to Finance Minister Nirmala Sitharaman urging her to extend the moratorium on repayment of short-term.crop loans by farmers to December 31, 2021. Gandhi also sought waiver of all penal interest on such loans. He highlighted that farmers across the country are facing acute financial distress due to the pandemic. The former Congress chief said his parliamentary constituency Wayanad in Kerala is home to a significant number of small and marginal farmers growing cash crops. He said large parts of Kerala were devastated by two consecutive years of flooding in 2018 and 2019. "Just as the farmers were on their road to recovery, the Covid pandemic struck. This has severely heightened agrarian distress. Currently, farmers avail short-term crop loans at a concessional rate under the interest subvention scheme. "However, factors including multiple lockdowns, disruptions in the supply chain and limited market access have severely affected farm .

Factoring Regulation Bill to open more credit facilities for MSMEs: FM

The amendments approved by Rajya Sabha Thursday will give an impetus to the economy by providing an efficient working capital cycle for MSMEs, Sitharaman said.

Finance Ministry invites entries for new DFI's name, tagline and logo

The finance ministry on Wednesday invited entries from citizens for name, tagline and logo for the new Development Financial Institution

Issues with new income tax portal to be resolved soon, says FM

Sitharaman said Infosys had done trial runs before the June 7 launch but users faced technical issues in accessing the portal.

Number of wilful defaulters rises to 2,494: FM informs Parliament

Banks are required to take steps to initiate the legal process, wherever warranted, against the borrowers or guarantors for recovery dues, she said.

No plan to print currency notes to tide over economic crisis: Sitharaman

Many economists and experts have suggested the government to resort to printing more currency notes to support the economy

Rationalise Customs duty

Besides removing exemptions, overall simplification is necessary

Nirmala Sitharaman introduces IBC (Amendment) Bill 2021 in Lok Sabha

Sitharaman is in charge of both finance and corporate affairs ministries.

Honest taxpayers deserve to be recognised for paying due share of taxes: FM

Finance Minister Nirmala Sitharaman on Saturday said honest taxpayers deserve to be recognised for dutifully paying their due share of taxes