Page 3 - Nirmala Sitharaman

Bank privatisation won't hurt financial inclusion or national interest: FM

Finance Minister Nirmala Sitharaman on Tuesday allayed apprehension that privatisation of state-owned banks would hurt financial inclusion and national interest. She said the bank nationalisation done in 1969 has not yielded the desired result as far as financial inclusion was concerned. Addressing the student at the Diamond Jubilee Valedictory Lecture at Delhi School of Economics (DSE), University of Delhi here, she said that nationalisation did help in pushing priority sector lending and government programmes but government control made public sector banks unprofessional. Despite 50 years of nationalisation, the objectives that were not entirely achieved, she said, adding, "after... we professionalised the banks, those objectives are still being beautifully achieved. "So, this perception that when you try to make them professional, and if you want to privatise them, which is a Cabinet decision, that objective of reaching to all people, taking banking to everybody will be lost...

India to soon become world's third-largest economy: FM Sitharaman

Finance Minister Nirmala Sitharaman said India has grown from the 10th to the 5th-largest economy since 2014 and is on track to become the third-largest in the world soon

FM Sitharaman starts Bhutan tour to strengthen bilateral economic ties

According to a press statement, the visit, scheduled from October 30 to November 2, 2025, underscores India's enduring partnership with Bhutan, built on mutual trust, respect, and shared goals

₹13,000 crore mega plan taking shape to make India a global toy hub

Under the proposed scheme, the types of incentives are being planned - Turnover Linked Incentive (TLI), Localisation Linked Incentive (LLI) and Employment Linked Incentives (ELI) are being planned

Be polite in dealing with honest taxpayers: Sitharaman tells GST officers

Finance Minister Nirmala Sitharaman on Friday said GST officers should be polite and empathetic in dealing with honest taxpayers and asked them to use technology for faster registration approvals and grievance redressal. She also asked field formations to "proactively" undertake trade facilitation measures. "There is no iron wall between you and trader, there is thin air. You can understand where the difficulty is, rather than muddy it up any further," she said. Speaking at the inauguration of the CGST building in Ghaziabad, the minister flagged the need for timely conclusion of any disciplinary proceedings against officers of Central Board of Indirect Taxes and Customs (CBIC). This would send a clear message from the CBIC board that any misconduct, dereliction of duty or unethical behaviour by officers will not be tolerated. She said the ultimate goal of tax administration is to make life easy for honest taxpayers and to do that GST officers should follow the laid down SoP and sho

GST reforms drive record festive demand, says FM Nirmala Sitharaman

She said this marginal deviation was due to cases where input taxes remained higher than output rates, leading to small adjustments before products reach consumers

GST rate cuts reaching consumers, reforms widely welcomed: Sitharaman

Sitharaman explained that while a few products witnessed a smaller-than-expected pass-through, overall, the rate cuts have effectively translated into lower prices for consumers

Increase agricultural credit to meet rural India's demands: FM to banks

Union Finance Minister Nirmala Sitharaman has urged rural banks to increase agricultural credit disbursement to meet the growing demand of new rural India, while reviewing the business performance of Karnataka Grameena Bank (KaGB) here. According to an official statement, Sitharaman chaired the meeting, attended by Department of Financial Services (DFS) Secretary M Nagaraju, NABARD Chairman Shaji K V, and other senior officials from the finance ministry on Thursday. During the review, Sitharaman assessed key indicators, including credit growth, NPAs (Non-Performing Assets), financial inclusion, and the implementation of government-sponsored schemes by KaGB. She advised the bank to increase its share in ground-level agriculture credit disbursement, with special focus on emerging areas of the economy. Sitharaman also directed all stakeholders to take steps to realise the potential of allied agricultural activities in the region. KaGB and Canara Bank should work closely with state ..

Nirmala Sitharaman reviews KaGB, focuses on FPO and MSME lending

Finance Minister reviews Karnataka Grameena Bank's performance in Ballari, calling for greater focus on rural lending, MSME support, and FPO financing for inclusive growth

FM Sitharaman inaugurates Farmers Training Centre in Karnataka under MPLADS

Union Finance Minister Nirmala Sitharaman on Friday inaugurated a Farmers' Training and Common Facility Centre under the MPLAD scheme here. The centre in Kasapura village aims to train self-help groups (SHGs) and farmers through Farmer Producer Organisations (FPOs) to enhance value addition to their agricultural produce, officials said. The facility has been set up in collaboration with the National Bank for Agriculture and Rural Development (NABARD), they added. Launched in 1993, the Members of Parliament Local Area Development Scheme allows MPs to propose development projects in their constituencies for community assets such as roads, drinking water, and sanitation. Fully funded by the government, these projects aim to address local needs through durable infrastructure implemented by district authorities. "Together, these efforts will enable both groundnut and tamarind value chains to thrive, while also strengthening Farmer-Producer Organisations (FPOs) with marketing support. A

FM Sitharaman urges farmers to utilise govt schemes for higher profits

Union Finance Minister Nirmala Sitharaman on Wednesday urged farmers to make full use of the Pradhan Mantri Formalisation of Micro Food Processing Enterprises (PMFME) and Pradhan Mantri Dhan Dhanya Krishi Yojana (PMDDKY) to turn agriculture into a profitable venture. Speaking after inaugurating the Farmers' Training and Common Facility Centre in Koppal district, Sitharaman, a Rajya Sabha member from Karnataka, said the new generation GST reforms will also benefit agrarian communities. The facility was set up using her MP Local Area Development (MPLAD) fund. PMFME was launched to support value addition in agricultural products. The Centre provides financial and technical assistance and helps businesses upgrade under the scheme, she said. Sitharaman added that the government aims to promote rural entrepreneurship to generate jobs in villages. "More than Rs 3,700 crore funds have been given by the Centre to states till now since 2020. Loans have been provided to farmers. Rs 11,000 cr

FHRAI urges FM Sitharaman to restore ITC, delink F&B GST from room tariffs

Hospitality body seeks regularisation of past GST dues, restoration of input tax credit for hotels, and flexibility in F&B taxation linked to room pricing

Sitharaman launches farmers' training, agro-processing centres in Karnataka

Finance Minister is expected to visit the farmers' training and common facility centres for agro-processing to inaugurate them in four districts, including Vijayanagara, Bellary, Koppal, and Raichur

Govt urges Tatas to resolve boardroom dispute to maintain group stability

Tata Trusts dispute focuses on trustee seats on Tata Sons board, group's business direction, and handling minority shareholder Shapoorji Pallonji's planned exit

More than resilience, economy needs hard-nosed reforms to sustain growth

It is necessary to see the challenge posed by the prevailing situation as an opportunity and respond effectively to make the economy competitive

Tata Trusts rift intensifies: Amit Shah, Nirmala Sitharaman intervene- what’s going on?

The government has stepped in to resolve a major leadership crisis brewing within Tata Trusts. On October 7, top leaders from the Tata group, including Tata Sons Chairman N. Chandrasekaran, Tata Trust

Union Finance Minister Nirmala Sitharaman in Ayodhya on two-day visit

Union Finance Minister Nirmala Sitharaman arrived in Ayodhya on Wednesday for a two-day visit. Sitharaman was received at the Maharishi Valmiki International Airport by Uttar Pradesh Finance Minister Suresh Khanna and Agriculture Minister Surya Pratap Shahi, according to an official statement. Traditional melodies filled the air as her convoy, under tight security, proceeded to Hotel Radisson, before she began her scheduled engagements. Sitharaman's visit marks a special cultural event at Brihaspati Kund in Tedhi Bazaar, where she, along with Chief Minister Yogi Adityanath, will unveil the statues of three legendary South Indian musicians -- Tyagaraja Swamigal, Purandara Dasa and Arunachala Kavi -- the statement said. The statues installed in the Brihaspati Kund complex stand as timeless symbols of India's musical, devotional and artistic heritage, it added. These saint-musicians infused divine devotion into Indian classical music, making it the spiritual essence of the country's

How GIFT City's new forex settlement system can be a game-changer for India

The new real-time foreign currency settlement system situates GIFT City among global financial centres like Hong Kong and Tokyo, with a promise of faster transactions and better liquidity

Noel, Chandra meet Shah, Sitharaman amid rising tension at Tata Trusts

It is learnt that the govt decided to intervene and called an urgent meeting to help resolve a crisis at the leading business house of the country and deliberate on ''misgovernance'' at Tata Trusts

Amit Shah, Sitharaman meet Tata Group trustees amid boardroom dispute

Tata Group trustees, including Noel Tata and N Chandrasekaran, met Home Minister Amit Shah and Finance Minister Nirmala Sitharaman amid internal disputes over board appointments at Tata Sons