Page 189 - Nirmala Sitharaman

GST Council to take call on funding compensation shortfall: FM Sitharaman

Nirmala Sitharaman said GST Council will arrive at a common ground on ways to compensate states for loss of revenue

FM Sitharaman asks Asian Development Bank to step up lending to India

Sitharaman said India has the absorptive capacity to receive about $4 billion a year from sovereign operations, and about $1.5 billion annually from the private sector financing window

LS okays Rs 2.35 trn extra spending, bulk to be spent on public schemes

FM also said that probably for the first time the government has sought such a huge amount in the first batch of the supplementary demands for grants

FM urges ADB to step up lending, private sector operations to ease poverty

India has the absorptive capacity to receive about USD 4 billion a year from sovereign operations and about USD 1.5 billion annually from the private sector financing window, Sitharaman said

Taxation bill not introduced in LS as finance minister not present

A bill to give effect to various compliance relief measures for taxpayers, including extending time limits for filing returns and linking PAN with Aadhaar, could not be introduced

FM listens to debate on banking bill from RS chamber, replies in LS chamber

She on Thursday sat through the nearly two-hour debate on Banking Regulation (Amendment) Bill, 2020 in Lok Sabha while being seated in the RS chamber due to the Covid-19 social distancing norms

Govt to infuse Rs 20,000 cr in public sector banks; seeks parliamentary nod

The government has infused Rs 3.5 trillion in PSBs in the last few years, with the previous round of recapitalisation taking place in September 2019

FM presents 1st batch of supplementary demands; seeks additional Rs 2.3 trn

FM Nirmala Sitharaman on Monday sought the Parliament nod for additional spending of Rs 2.35 trillion, which include cash outgo of Rs 1.66 trillion, primarily to meet expenses for combating Covid-19

FM presents first supplementary demands; seeks additional Rs 2.35 trillion

This includes Rs 40,000 cr towards enhanced expenditure under MGNREGS

Centre releases Rs 6,195 crore to 14 states as devolution of taxes

Office of Union Finance Minister Nirmala Sitharaman in a tweet said that this would provide them with additional resources during the Covid-19 crisis

Privatising OFB: Defence ministry pushes ahead, workers push back

MoD announces appointment of consultants for corporatising Ordnance Factory Board; workers threaten indefinite strike from October 12

Banks going to be catalysts of revival, says FM Nirmala Sitharaman

"At this stage, the catalysts for economic revival, the catalysts who have the pulse of every one of their customers, are banks," the finance minister said

Meghalaya CM requests Sitharaman for more bank branches in state

K Sangma on Wednesday met Union Finance Minister Nirmala Sitharaman in New Delhi and requested her to prioritise the setting up of new bank branches in rural areas

Sitharaman launches doorstep banking initiative by public sector banks

Finance Minister Nirmala Sitharaman on Wednesday launched a doorstep banking services initiative by public sector banks (PSBs) which will provide convenience to customers. This is part of EASE (enhanced access and service excellence) reforms that the Department of Financial Services had undertaken in 2018. Now, one can bank from home with the finance minister launching the doorstep service initiative of PSBs, Financial Services Secretary Debasish Panda said. Customer convenience and comfort will be the top priority in the entire process, he added. Asserting that EASE reforms have resulted in improving various financial parameters of PSBs, Panda said there has been a six-fold increase in the number of profitable lenders in the last two years. Recalling the hassle-free transfer of money under the Aatmanirbhar Bharat package and Pradhan Mantri Garib Kalyan Yojana, he said despite the COVID-19 lockdown there was seamless fund transfer in accounts of crores of beneficiaries. As part o

In absence of GST compensation, states may cut FY21 capex by Rs 3 trn: ICRA

The borrowing alternative offered by the Centre to make up for the shortfall in the promised compensation will lead to the states' fiscal deficits widening to 4.25 - 5.52 per cent

Banks going to be catalysts for economic revival, says FM Sitharaman

Finance Minister Nirmala Sitharaman on Wednesday said banks are going to be the catalysts for economic revival

Centre has walked the talk on capex, shows official data

Data from Controller General of Accounts shows capital expenditure for April-June 2020, at Rs 88,273 crore, was 40% higher than a year ago, though the gap narrowed to just 4% by July-end

Exporters may not get much help from RoDTEP

The government has restricted the allocation for MEIS benefits to Rs 5,000 crore for September-December period. In FY20, the Centre granted Rs 43,500 crore of MEIS benefits

No restrictions on filling up govt posts, says FinMin after notification

Any posts created after July 1 without the approval of the expenditure department will remain vacant if they haven't yet been filled, the memorandum said

India's commitment to reform being taken seriously by foreign investors: FM

Sitharaman said Aatmanirbhar Bharat would help India build on its strengths and become self-reliant