Page 42 - Nirmala Sitharaman

PM Modi visualises women-led economic growth for India: Nirmala Sitharaman

Union Finance Minister Nirmala Sitharaman on Friday asserted that PM Narendra Modi was of the view that women would steer economic growth in the country, which was on its way to becoming the third largest economy in the world. She was speaking at a credit outreach programme held in the north Bihar town of Darbhanga, where she was joined by cabinet colleague Chirag Paswan and Deputy Chief Minister Samrat Choudhary, among others. Sitharaman said, "Earlier, PM Modi used to tell me that the Union budget should be women-centric. But now he says the budget should be one that visualises women in leadership roles." The finance minister, who is on a two-day tour of Bihar, noted that the region, which was known for 'makhana' and Madhubani paintings, owed these to women's hard work. "We have brought in projects like 'Drone Didi'. Besides, cash assistance is being provided to women entrepreneurs through self-help groups. They are also being imparted with skills. Standing here, the birthplace o

Life insurance stocks fall; HDFC Life, SBI Life, Max Financial dip up to 7%

According to the latest data, HDFC Life distributes 65 per cent of its insurance policies through banking channels, followed by SBI Life (60 per cent), Max Life (52 per cent), and ICICI Prudential

Rs 1,435 crore PAN 2.0 project gets CCEA approval as business identifier

The PAN 2.0 project aims to enable technology-driven transformation of taxpayer registration services and offers several benefits

How govt navigates headwinds, challenges will shape the FY26 Budget

It will be the second Budget of the Modi 3.0 government and eighth straight Budget for Sitharaman, rare in Indian polity

FMCG distributors flag deep discounts by quick commerce companies

AICPDF says qcomm firms' deep discounting, predatory pricing put small retailers and distributors under immense pressure

Indians should not listen to West's diktats to build Brand Bharat: FM

If we want to build Brand Bharat' we should not listen to the diktats of the west regarding what is right, said Union Finance Minister Nirmala Sitharaman on Friday at the India Ideas Conclave 2024 in Bengaluru. For millennia, we've been producing products, there's never been this point of exploitation. And suddenly for a traditional industry like, let's say, carpet making, you had a diktat coming from the buyers in the West saying, Oh, no, you're using children for making these carpets. We won't buy it from you, said Sitharaman. She said in India, families are engaged in making crafts, without denying children the schooling, because unless the craft is learnt very young, a craftsman can never master it. We've not denied children education.... you are not going to be told by others, you employ children. We need to stand up and say, we take care of their education, said Sitharaman. The kind of steps that need to be taken for better ethical production, which would make products superi

Indian qcom startups can be key global players: FM Nirmala Sitharaman

Sitharaman's remarks come at a time when there is a heated debate about the effect of the swift growth of quick-commerce platforms on traditional brick-and-mortar retail stores in India

Karnataka CM seeks more agricultural loans, meets FM for farmers' interests

Karnataka Chief Minister Siddaramaiah met Union Finance Minister Nirmala Sitharaman on Thursday, urging her to intervene and increase the Short Term Agricultural Loans (SAO) limit for the fiscal 2024-25. In the meeting held at North block, the chief minister highlighted a sharp decline in the proposed loan allocation by NABARD, which has sanctioned only Rs 2,340 crore against the state's applied limit of Rs 9,162 crore, a 58 per cent reduction compared to the previous year's Rs 5,600 crore. Presenting a detailed representation, Siddaramaiah emphasised that Karnataka aims to disburse short-term agricultural loans worth Rs 25,000 crore to 35 lakh farmers in 2024-25. In 2023-24, the state has already disbursed Rs 22,902 crore through the cooperative credit structure. The state government said that the drastic reduction in the SAO loan limit could significantly impede agricultural cooperation and potentially disrupt food grain production. NABARD attributed the reduced allocation to a ..

Karnataka CM seeks to meet FM Sitharaman to discuss Nabard loan 'reduction'

Karnataka Chief Minister Siddaramaiah on Wednesday said he has sought an appointment with Union Finance Minister Nirmala Sitharaman to discuss the "reduction" in loan amount to the state this year, from the National Bank for Agriculture and Rural Development (NABARD). The Chief Minister will be travelling to the national capital tonight. "There is a launch of Nandini products in Delhi, so I'm going. I have also sought appointment with Union Finance Minister Nirmala Sitharaman, because NABARD loan to the state this year has been reduced. Last year, Rs 5,600 crore was given, this year it is Rs 2,340 crore. It has been reduced by 58 per cent," Siddaramaiah said. Speaking to reporters here, he noted that the NABARD comes under the Finance Ministry. "I will make a request to her." Asked if he will be meeting the Congress high command during the visit, the CM said: "I will have to return (to state) by tomorrow evening. If I get time, I will meet." Siddaramaiah is scheduled to launch Nan

A lot of 'ills' have crept into the system: Panda on product mis-selling

'You don't need to chase customers. You have to give the option to the customer. No mis-selling, no force-selling, the Bima Sugam will also facilitate that,' says Debasish Panda

Lending rate cut still some time away: SBI Managing Director Vinay M Tonse

SBI MD says banks would look for monetary policy stance and policy rate action to decide actions

Challenges and opportunities loom in equal measure ahead of FY26 Budget

While the formal meetings of Finance Minister Nirmala Sitharaman with various stakeholders seeking their wishlist for Budget 2026 is expected to begin next month, the budget-making exercise is gaining

Banks need to make loans more affordable, says FM Nirmala Sitharaman

The Finance Minister also said that inflation is very volatile because of supply and demand constraints

Cost of borrowing stressful, banks must make interest rates affordable: FM

Union Finance Minister Nirmala Sitharaman on Monday said bank interest rates are very stressful for some people, and steps are needed to make them affordable. Amid widespread concerns about a possible slowdown in economic growth, the finance minister assured that the government is fully aware of the domestic and global challenges, and added that there is no need to have "undue concerns". "What is important is when you look at India's growth requirements, and you can have so many different voices coming out and saying the cost of borrowing is really very stressful, and a time when we want industries to ramp up and move (to) building capacities, bank interest rates will have to be far more affordable," Sitharaman said. Speaking at the annual business and economic conclave organised by SBI, the minister also asked banks to concentrate on their core function of giving loans and added that the "misselling" of insurance products also indirectly adds to the cost of borrowing for an entity.

FM Nirmala Sitharaman responds to X user seeking 'relief for middle class'

India's Finance Minister Nirmala Sitharaman responded to an X (previously Twitter) user, Tushar Sharma, who had commented on the minister's online post

FM Sitharaman responds to X user seeking tax relief for middle class

Finance Minister Nirmala Sitharaman on Sunday responded to an X user seeking tax relief for the middle class, saying the Prime Minister Narendra Modi-led government attends to people's concerns. "PM @narendramodi's government is a responsive government. Listens and attends to people's voices. Thanks once again for your understanding. Your input is valuable," Sitharaman replied to the user on X. The user had posted: "I humbly request you to consider providing some relief for the middle class. I understand the immense challenges involved, but it's just a heartfelt request." Sitharaman also said, "I recognise and appreciate your concern.

Severe action to be taken for causing harassment to taxpayers: Sitharaman

The finance minister added that manufacturing is a priority for the government, and various schemes have been developed for this purpose

Sitharaman to meet state FMs for pre-Budget, GST Council meet on Dec 21-22

Union Finance Minister Nirmala Sitharaman is likely to meet her state counterparts on December 21-22 for pre-budget consultations and meeting of the GST Council, an official said. The meeting assumes significance as states finance ministers would present their recommendations for 2025-26 Budget to be unveiled on February 1, 2025. The 55th GST Council meeting would be held during one of these two days in which the much awaited decision on exemption or lower GST rate on health and life insurance would be taken. The Council may also take up some rationalisation exercise and reduce tax rates on a host of common items from 12 per cent to 5 per cent as per the recommendations of a panel of state ministers. The two-day meeting is slated to take place in Rajasthan, either in Jaisalmer or Jodhpur, the official added. Last month, the group of ministers (GoM) on health and life insurance GST broadly agreed on exempting insurance premiums paid for term life insurance policies, and senior ...

May ease tariffs if no harm to economy, says FM Nirmala Sitharaman

According to Sitharaman, she has the responsibility to protect existing domestic companies producing goods locally, while balancing the needs of those dependent on imports

AIIB should strive for more innovative financing models: FM Sitharaman

Finance Minister Nirmala Sitharaman on Monday said the Asian Infrastructure Investment Bank (AIIB) should strive for greater provision of innovative financial models and scale up efforts for private capital mobilisation. The minister in her meeting with the AIIB delegation, comprising 11 officials of the Board of Directors of AIIB and senior representatives and staff, said India could act as a sandbox for AIIB's piloting of innovative financing models and technologies. Sitharaman, who is also Governor on the AIIB Board, stated that the multilateral institution should broaden its investment in priority sectors of climate adaptation and resilience, infrastructure development, energy security, urban development and extend support for India's next generation reforms, an official statement said. She also stressed upon the importance of continually incorporating finance plus and budget plus elements in AIIB's project design and implementation. "Sitharaman further suggested that AIIB shou