Page 30 - Nirmala Sitharaman

Priynaka slams BJP for GST on exam forms, says 'turning dreams to income'

Congress MP Priyanka Gandhi Vadra on Monday attacked the BJP over levying GST on examination forms, saying the government had turned the dreams of parents who saved every penny to prepare their children for exams into a source of income. The Congress general secretary shared an examination form of the Kalyan Singh Super Speciality Cancer Institute, Sultanpur, that showed 18 per cent GST was being charged. "The BJP cannot provide jobs to youngsters but it is definitely rubbing salt on the wounds by charging 18 per cent GST on examination forms. GST is being charged on every government job form, including Agniveer," Priyanka Gandhi said in a post in Hindi on X. "After filling the form, if the paper is leaked due to the failure of the government or if there is corruption, then this money of the youngsters is wasted," she said. Parents sacrifice their lives and save every penny to educate their children and prepare them for the exams but the BJP government has turned their dreams into

Punjab demands greater financial support during pre-Budget meet with FM

Punjab has sought Rs 1,000 crore Central assistance to strengthen its police infrastructure and security efforts in the border districts, among a slew of other demands, at a pre-budget meeting with Union Finance Minister Nirmala Sitharaman held in Jaisalmer, an official statement said on Sunday. Industrial incentives similar to those provided to Jammu and Kashmir and the neighbouring hill states were also sought to support the MSMEs in Punjab's border and sub-mountainous regions, a Punjab government statement said on Sunday. Quoting Punjab Finance Minister Harpal Singh Cheema, the statement said the state has strongly raised the demand to restore NABARD's Short-Term Seasonal Agricultural Operations (ST-SAO) limit to Rs 3,041 crore, from the reduced limit of Rs 1,100 crore, for FY 2024-25. Cheema said this restoration is vital to prevent farmers from turning to moneylenders, aligning with the 'Sahakar se Samriddhi' principle. Several states raised this issue which was discussed at .

States not in favour of bringing aviation turbine fuel under GST: FM

Finance Minister Nirmala Sitharaman on Saturday said that states did not agree on bringing aviation turbine fuel under the ambit of Goods and Services Tax. "States did not feel comfortable. They didn't want the ATF because they saw it as part of the crude petroleum diesel basket, and therefore they said that it alone cannot be taken out, and therefore that continues to remain where it is today," she said while briefing media on the outcome of 55th GST Council meeting here. Besides, she said, no decision was taken with regard to reduction in GST on insurance premiums as the Group of Ministers (Go) needed more time to study the issue. Many inputs are awaited including the one from insurance regulator IRDAI, she said. She further said that the GST Council has also deferred the decision with regard to rate rationalisation as more time is required by the GoM for a comprehensive study. However, the Council made suggestions with regard to GST rate revision on various items including ...

States seek higher interest-free capex loans, increased borrowing limit

Infrastructure development emerged as a key focus area, with states calling for dedicated funding for state-specific road and railway projects

Funds devolved to states under 15th Finance Commission higher: FM

Funds devolved to states under the 15th Finance Commission (2021-2024) is more than what was devolved under the 14th Finance Commission (2015-20), finance minister Nirmala Sitharaman said on Friday. In a pre-budget meeting with states, Sitharaman remarked that because of healthy macroeconomic environment, buoyancy and efficiency in the tax collections, the devolution has increased. "The funds devolved to the states in the last 45 months (April 2021 to December 2024) under the 15th Finance Commission is more than what was devolved in 60 months under the 14th Finance Commission (2015-20)," an official statement quoting Sitharaman said. The Union finance minister also referred to the Scheme for Special Assistance to States for Capital Investment (SASCI), which was first announced in the Union Budget 2020-21, and acknowledged that it has received a very good response from states. States have been requesting the Central government to enhance the outlay under the scheme as it is leading

States ask FM for more funds under loan scheme, higher borrowing cap

Finance ministers of states demanded an increase in allocation of 50-year interest free loan, while fiscally stressed states like Punjab and Kerala pitched for a special package and borrowing flexibility, sources said. In a pre-budget meeting with Union Finance Minister Nirmala Sitharaman, states have also urged for higher borrowing limits to support fiscal activities, besides additional funds for Jal Jeevan Mission to arrange for tanks and storage to enhance water supplies. Sources said in the meeting, Maharashtra wanted funds for Mukhyamantri Majhi Ladki Bahin Yojana and demanded that a Centrally Sponsored Scheme (CSS) be launched with the Centre and state sharing 50 per cent of the cost each. The Budget for 2025-26 is slated to be presented in Parliament on February 1, 2025. Finance ministers of all states attended Friday's meeting with Sitharaman here. Several states demanded increase in allocations for the 50 years interest-free loan scheme, sources said, adding they also ...

Sitharaman to hold pre-Budget talks with state finance ministers on Friday

The official further noted that this year's Budget consultations are particularly significant due to the political outcomes of recent state elections

Tourism minister to meet FM seeking 'infrastructure' status for his sector

According to the Ministry of Tourism, India recorded 47.78 lakh (provisional) foreign tourist arrivals (FTAs) during January-June 2024

Rs 14,131.6 crore recovered from Vijay Mallya's asset sales: FM Sitharaman

The Enforcement Directorate has restored assets worth Rs 22,280 crore to victims or rightful claimants from cases involving economic offences, the finance minister informed Lok Sabha

ED restored properties worth Rs 22,280 cr to legitimate claimants: FM

Finance Minister Nirmala Sitharaman on Tuesday said the Enforcement Directorate has restored properties worth Rs 22,280 crore to the victims or rightful claimants and asserted that the fight against economic offenders will continue unabated. Replying to a debate on the first batch of Supplementary Demands for Grants in the Lok Sabha, she said Rs 14,131.6 crore worth properties belonging to fugitive Vijay Mallya have been restored to public sector banks. As regards the Nirav Modi case, properties to the tune of Rs 1,052.58 crore have been restored to PSBs and private banks. In the Mehul Choksi case, properties worth Rs 2,565.90 crore have been attached and will be auctioned. In the National Spot Exchange Ltd (NSEL) case, Rs 17.47 crore worth properties were restored to the genuine investors who were defrauded. "On the PMLA, ED has successfully restored properties valued at least Rs 22,280 crore from major cases... We have not left anyone, even if they fled the country, we've gone a

Q2 growth a temporary blip, economy to see better growth: FM Sitharaman

The Indian economy grew 6.7 per cent in the April-June quarter and 5.4 per cent in the July-September period of FY2024-25

Nehru, Indira's policies hurt Indian economy for first five decades: FM

In her nearly 80-minute speech, Sitharaman said the Congress keeps questioning the Sangh Parivar about its role during the freedom movement

Cong anti-women, amended Constitution to help dynasty: FM Sitharaman in RS

In a no-holds-barred attack on the Congress in the Rajya Sabha, Finance Minister Nirmala Sitharaman on Monday accused the grand old party of carrying out major amendments to the Constitution "brazenly to help the family and the dynasty". She also alleged that it was "anti-woman" for failing to get the women's reservation bill passed when it was in power. Initiating the discussion on the 'Glorious Journey of 75 Years of the Constitution of India' in the Rajya Sabha, the senior BJP leader said the economic policies of the previous Congress governments for about 50 years did not strengthen India's economy and restricted growth. She noted that the living document -- the Constitution -- has faced many amendments in the last seven decades. In her nearly 80-minute speech, she mentioned various amendments to the Constitution during the era of Jawaharlal Nehru, Indira Gandhi and Rajiv Gandhi, which were aimed at strengthening the "family" and failed on the other tests of economic and social

BJP prioritises electoral politics over governance: Kharge in RS debate

Congress President and Rajya Sabha Leader of Opposition Mallikarjun Kharge accused BJP of twisting and distorting facts, as well as being against reservation

Cong 'anti-women', amended Constitution to help family: Sitharaman in RS

Finance Minister Nirmala Sitharaman on Monday said the Congress party carried out major amendments to the Constitution to brazenly help the "family" and the "dynasty". She also termed the Congress party as "anti-women" for not passing the Women's Reservation Bill under pressure of its coalition partners. Initiating the discussion on the 'Glorious Journey of 75 Years of the Constitution of India' in the Rajya Sabha, the senior BJP leader said the economic policies of the previous Congress governments for about 50 years did not strengthen the Indian economy. "Each time the Congress brazenly (amended Constitution)... only to help the family, the dynasty... kept amending the Constitution," she said. Citing various amendments, including the 42nd Constitutional Amendment and one related to the Shah Bano case, the Finance Minister said none of the amendments passed the test of four criteria -- economic good, social intent, due process, and constitutional spirit. She said the amendments w

Congress govt prioritised dynasty over democracy: Sitharaman in RS debate

Opening the Rajya Sabha debate on Monday, Union Finance Minister Nirmala Sitharaman accused previous Congress-led central governments of suppressing freedom of speech

Sri Lankan prez Dissanayake meets FM Sitharaman to discuss economic ties

Earlier on Sunday, Dissanayake also met External Affairs Minister S Jaishankar and National Security Advisor Ajit Doval

FinMin asks banks to closely monitor NCLT, NARCL cases to reduce delays

The Finance Ministry on Thursday asked banks to closely monitor cases in NARCL and NCLT to minimise procedural delays and adjournments so that bad loan resolution matters are expedited. An integrated portal is being developed by the Ministry of Corporate Affairs for seamless information flow to banks on the National Company Law Tribunal (NCLT) cases, the finance ministry said in a statement. The decision was taken in a review meeting chaired by Department of Financial Services Secretary M Nagaraju to address key operational challenges and enhance the efficiency of resolution mechanisms through the National Asset Reconstruction Company Limited (NARCL) and NCLT. The discussion on cases at NARCL centred on expediting timelines for the resolution of accounts. The Secretary underscored NARCL's pivotal role as a specialised entity designed to accelerate the resolution of large-value stressed assets, thereby, strengthening the financial ecosystem, it said. During the meeting, it was info

GNPA of PSBs declines to 3.12% in Sep from 14.58% in March 2018: FinMin

Gross non-performing assets (NPAs) of public sector banks (PSBs) have declined to a decade low of 3.12 per cent at the end of September 2024 from a peak of 14.98 per cent in March 2018 on the back of measures like the 4Rs -- recognition, recapitalisation, resolution, and reform -- taken by the government, the finance ministry said on Thursday. Since 2015, the government implemented a comprehensive 4Rs strategy of recognising NPAs transparently, resolution and recovery, recapitalising PSBs, and reforms in the financial system to address the challenges faced by PSBs, it said. Capital adequacy ratio of PSBs improved 393 bps to reach 15.43 per cent in September 2024 from 11.45 per cent in March 2015, it said. During 2023-24, PSBs recorded the highest-ever aggregate net profit of Rs 1.41 lakh crore against Rs 1.05 lakh crore in 2022-23, it said, adding that the figure was Rs 0.86 lakh crore in the first half of 2024-25. In the last three years, PSBs have paid total dividend of Rs 61,964

Centre seeks Parliament approval for extra Rs 86,730 crore spending in FY25

The net additional spending, as stated by the government, amounts to Rs 44,183 crore for the financial year ending March 31