Page 2 - Nirmala Sitharaman

RBI looks to ban sales incentive to bank staffers from third party

Draft norms seek to curb mis-selling by barring incentives from third parties, mandating refunds and compensation, and prohibiting use of dark patterns

Budget pegs FY27 total expenditure at ₹53.47 trillion: Sitharaman

Finance Minister Nirmala Sitharaman on Wednesday said that the government has envisaged a total expenditure of Rs 53.47 lakh crore for the next financial year, up 7.7 per cent from the current fiscal ending March 31. According to the revised estimate, the size of the Budget for the current fiscal is Rs 49.64 lakh crore, lower from Rs 50.65 lakh crore estimated in February 2025. The Budget for fiscal 2024-25 was at Rs 46.52 lakh crore. Total expenditure is pegged at Rs 53.47 lakh crore in the next fiscal, much more than tax receipts, she said in reply to a discussion on the Union Budget in the Lok Sabha. The government aims for tax receipts of Rs 44.04 lakh crore, 8 per cent higher than the previous year. Talking about capex, she said, the government has made the highest-ever allocation of Rs 12.2 lakh crore, which is 4.4 per cent of the GDP. Besides, she said, the government is following the fiscal discipline and has projected the fiscal deficit at 4.3 per cent of the GDP or Rs 16

Kerala enters execution phase of ₹42,000 cr rare-earth corridor project

Bids close for extraction project as Centre backs corridors in four states

Finance Minister Nirmala Sitharaman likely to address RBI board on Feb 23

Finance Minister Nirmala Sitharaman is scheduled to address the Reserve Bank of India's central board on February 23 and highlight key points of the FY27 Budget, including measures to boost manufacturing, and support for agriculture and tourism. The meeting would take place days after the RBI decided to retain the key policy rate at 5.25 per cent with a neutral stance amidst global uncertainties. The post-budget meeting has been scheduled for February 23, where the finance minister will address the board members and talk about announcements made in the Budget 2026-27 that strike a fine balance between growth and fiscal prudence, sources said. It is customary for the finance minister to address the RBI board after the budget. Unveiling her ninth straight Budget in a row on February 1 in the Lok Sabha, Sitharaman said, "Since we assumed office 12 years ago, India's economic trajectory has been marked by stability, fiscal discipline, sustained growth and moderate inflation." The ...

CCI probing alleged cartelisation by steel makers, says FM Sitharaman

The Competition Commission is probing the alleged cartelisation by steel manufacturers and the investigation report has been shared with the parties concerned to provide their objections and suggestions in accordance with the competition law, the government said on Monday. The corporate affairs ministry also informed the Lok Sabha that the Competition Commission of India (CCI) registered 54 cases related to anti-competitive practices/and received 149 merger (M&A) filings. in 2025. In a written reply, Corporate Affairs Minister Nirmala Sitharaman said CCI has registered a case pertaining to the alleged cartelisation by steel manufacturers pursuant to the directions of the Madras High Court. After investigation, CCI's Director General (DG) submitted the investigation report, which has been shared with the parties with directions to file their objections/suggestions in accordance with the provisions of the Competition Act, 2002. "The matter is presently under inquiry before the ...

FM Sitharaman counters DMK; Oppn mulls notice for removal of Speaker

As Budget debate triggers sharp exchanges in Parliament, Sitharaman rebuts DMK charges while the Opposition considers a no-confidence motion against Lok Sabha Speaker Om Birla

Budget 2026: Readying for long-term export gains via resilient logistics

For those operating at the heart of supply chains, the renewed commitment to infrastructure-led growth stands out as one of the most significant aspects of the Budget

Union Budget reflects PM Modi's push to end 'policy ping-pong': FM

Prime Minister Narendra Modi's emphasis on avoiding "policy ping-pong" has shaped the Union Budget 2026-27, which is anchored in policy stability while laying the pathways for the long-term vision of a 'Viksit Bharat' at its core, Finance Minister Nirmala Sitharaman said. Framed as the first Budget of a new five-year fiscal cycle and the second quarter of the 21st century, it prioritises capital expenditure, infrastructure expansion and structural reforms over populist measures, while maintaining fiscal discipline. By emphasising predictable policymaking, sustained investment and multi-year planning extending to 2047 and beyond, the Budget seeks to strengthen economic resilience, crowd in private investment and position India for durable, export-led growth. "People want stability, and that is why they have elected Prime Minister Modi for the third time. Stability is inherent in that vote, and it is equally reflected in the way policies are executed through successive budgets," ...

Govt to constitute high-level committee on banking soon: FM Sitharaman

The government will soon constitute a High-Level Committee on Banking for Viksit Bharat to draw up a blueprint to create mega-lenders capable of meeting the financing needs of a developed India, Finance Minister Nirmala Sitharaman said. "We want the committee to tell us what kind of things we need to do so that banking is made available for funding Viksit Bharat," she told PTI Videos in an interview. Asked if it would suggest a merger of public sector banks, Sitharaman said one should not narrow it down like that. "It is for India's banking sector to be made big enough, big enough in the sense, made or primed to take care of Viksit Bharat funding. You have to reach Viksit Bharat destination...it (Viksit Bharat) needs money, it needs financing, it needs credit, it needs banking facility to reach the common man." When asked about the timeframe for formation of the committee, she said, "We will do it at the earliest". "I propose setting up a 'High Level Committee on Banking for Viksi

India-US interim trade pact to help MSMEs join global value chains: FM

The India-US Interim Agreement framework will support Indian MSMEs in integrating into global value chains and lower costs for businesses and consumers, Finance Minister Nirmala Sitharaman said on Saturday. As part of the framework announced last night, both countries will reduce import duties on a number of goods to boost two-way trade. While the US will reduce tariffs on Indian goods to 18 per cent from the present 50 per cent, India will eliminate or cut down import duties on all US industrial goods and a wide range of American food and agricultural products, including dried distillers' grains, red sorghum for animal feed, tree nuts, fresh and processed fruit, soybean oil, wine and spirits. According to a joint statement, India has expressed its intention to purchase USD 500 billion of US energy products, aircraft and aircraft parts, precious metals, technology products and coking coal over the next five years. "India has safeguarded the sensitivities of its agriculture and anim

Unclaimed deposit payouts jump to ₹1,000 crore a month, says RBI

Targeted RBI campaigns and incentives have sharply increased the pace of unclaimed deposit settlements, pushing monthly payouts to over Rs 1,000 crore, compared with Rs 100-200 crore earlier, RBI said

FM Sitharaman shows adequate caution in drawing up a conservative Budget

It is useful to remember that the miracle economies to our East, the so-called Asian Tigers, sustained high growth for decades by following prudent fiscal policies

We framed this Budget on a larger plank, not based on any one incident: FM

The India-US trade deal, had it come a little earlier, would not have made the Union Budget any different, Finance Minister Nirmala Sitharaman said

Headwinds may be turning into tailwinds for foreign inflows: FM Sitharaman

FM Nirmala Sitharaman says another round of Customs clean-up soon

2019 to 2026: Of Sitharaman's saris, weaves and the fiscal fine print

Each drape, border and weave has echoed the fiscal moment-tight seams in lean years, bolder colours in recovery, steadier textures as India's economic story unfolded, measured carefully in six yards

India's exports to get boost with US cutting tariff: FM Nirmal Sitharaman

US President Donald Trump's decision to slash tariffs on Indian goods to 18 per cent augurs well for the country as it will boost exports, Finance Minister Nirmala Sitharaman said Tuesday. "So, actually our exports will pick up now, that is my expectation... along with having found new markets where they will continue to operate," she said in an interview to PTI Videos. "It is a good augury for them (exporters)," Sitharaman said. Trump's steep 50 per cent tariffs last year dented Indian exports by raising landed costs, squeezing exporter margins, and eroding competitiveness in the American market. Sectors such as steel, aluminium, textiles, engineering goods and some agricultural products were hit as higher duties led US buyers to shift orders to alternative suppliers. On Monday, Trump agreed to slash US tariffs on Indian goods to 18 per cent from 50 per cent in exchange for India lowering trade barriers as well as stopping its purchases of Russian oil and instead buying oil from t

Stock Market Close: Sensex swings 1,345 pts intraday, ends 944 pts higher; Nifty tops 25,050

Sensex Today | Stock Market LIVE Updates, February 2, 2026: Fag-end buying was led by Reliance Industries, Adani Ports, BEL, L&T, M&M, ICICI Bank, and HDFC Bank\

India-US trade deal major boost for 'Made in India' initiative: FM

Finance Minister Nirmala Sitharaman on Tuesday welcomed the reduction in United States' tariffs on Indian goods, describing the development as a major boost for the 'Made in India' initiative. Taking to social media platform X, the finance minister said that Indian products would now face a reduced reciprocal tariff of 18 per cent. "Good news for #MadeInIndia products. They will now face reduced tariff of 18%. Thanking the leadership of PM @narendramodi and @POTUS for this development. People of our two large democracies stand to benefit," she said in a post on X. The breakthrough follows a high-level telephonic conversation between Prime Minister Narendra Modi and US President Donald Trump. In a reciprocal move, India has committed to reducing trade barriers for American goods and significantly increasing imports across sectors, including energy, technology, and agriculture. Following the trade agreement announcement, Prime Minister Narendra Modi said he was delighted that "Made

Budget 2026-27: FM Nirmala Sitharaman for 'a lot more on disinvestment'

Says IBC amendment Bill will come up in second half of Budget session

Union Budget 2026-27: Strengthening India's long-term growth engines

From a capital markets perspective, the Budget's proposals to deepen the corporate bond market clearly stand out