Page 5 - Nirmala Sitharaman

Prices of premium TV sets to go down 8%: Sony India MD Sunil Nayyar

Festival season demand to grow by 10% and TV prices come down by 7.8%

₹3.6 trillion given to 22 states under 50-year loan, says FM Sitharaman

Union Finance Minister Nirmala Sitharaman on Wednesday said about Rs 3.6 lakh crore was given to 22 states so far under 50-year interest-free assistance. Addressing CII GCC Business Summit here, she also said India's capital investment grew to 4.1 per cent (including states) of the GDP in 2024-25 from 1.7 per cent in 2013-14. "The central government has also provided 50-year interest-free assistance to the state governments so that they can have their capital assets increased (with) money to spend on them. The Centre has given 50-year interest-free money to all states and the total of what has been given is about 3.6 lakh crore till now. That is the last four years. "And 22 states have actually used it, resulting in recording more than 10 per cent growth in capital expenditure from their own resources," she said. Sitharaman further said during the last 11 years, 88 airports have been operationalised, 31,000 kilometers of new rail tracks have been laid, Metro networks expanded over

GST reforms infused ₹2 trillion in Indian economy: Nirmala Sitharaman

The finance minister also said the GST revenues grew to ₹22.08 trillion in 2025 from when it was introduced

India must invest in sovereign data infra, AI skilling for a new economy

NITI Aayog projects AI could add up to $1 trillion to India's GDP by 2035, but success depends on sovereign infrastructure, skilling, and responsible adoption

Amitabh Kant on IndiGo board; PM Modi in MP; I-T surveys Marico Group & more

Marking his 75th birthday in Madhya Pradesh’s Dhar district, PM Modi said Indian soldiers humbled Pakistan “in a blink” and asserted that India is unafraid of nuclear threats.

In AI world, regulation must keep pace with tech: FM Nirmala Sitharaman

FM Nirmala Sitharaman urged soft-touch AI regulation to foster innovation while ensuring responsible use, as Niti Aayog projected AI could add $600 billion to GDP by 2035

FM Sitharaman highlights GIFT City as global hub for financial services

Finance Minister Nirmala Sitharaman on Monday highlighted the role of IFSC GIFT City as a global financial service provider. During the meeting with top management of HSBC Plc, Sitharaman outlined the roadmap towards Viksit Bharat, towards Atmanirbhar Bharat, sustainability, innovation, adoption of Artificial Intelligence (AI) and inclusivity. GIFT IFSC, international financial services centre, is located in Gandhinagar Gujarat. HSBC Group chairman Mark E Tucker and the Board Members of the UK-based financial services firm met the finance minister here. The meeting focused on India's growth story, Government of India's policy initiatives and HSBC's role in supporting India, the finance ministry said in a post on X. Members of the top management of HSBC appreciated India's continued growth story, including, the government's focus on broad regulatory reforms, and recent taxation reforms in both direct and indirect taxation, it said. The dialogue also addressed India's ambition to .

Regulations should foster innovations, not wipe them out: FM Sitharaman

Finance Minister Nirmala Sitharaman on Monday emphasised the need for regulations that foster technology innovation in a responsible manner, particularly in artificial intelligence (AI), rather than stifling it. The government is determined to not only adopt AI technologies but also ensure their responsible application across various sectors, she said while releasing the report 'AI for Viksit Bharat: The Opportunity for Accelerated Economic Growth'. "We do not want regulation that literally wipe out technology itself. We want regulations because we want a responsible application," she said after releasing the report prepared by Niti Aayog here. "AI is a rapidly progressing, real time, dynamic thing, and therefore all of us will have to be conscious that we don't sit back on the ethic as AI can also have its challenges," she said. The challenge not just in jobs, but also in a way in which these can be misused which can have repercussions for the society, she added. According to the

Insurance Amendment Bill likely in Winter session, says FM Sitharaman

Insurance Amendment Bill, which proposes 100 per cent FDI in the insurance sector, is likely to be introduced in Parliament in the upcoming Winter session, Finance Minister Nirmala Sitharaman has said. The winter session of Parliament generally commences in the second half of November and concludes before Christmas. "I hope to", she told PTI when asked if the bill to further liberalise FDI in the insurance sector can be introduced in Parliament in the upcoming Winter session. The finance minister, in this year's Budget speech, proposed to raise the foreign investment limit to 100 per cent from the existing 74 per cent in the insurance sector as part of new-generation financial sector reforms. "This enhanced limit will be available for those companies which invest the entire premium in India. The current guardrails and conditionalities associated with foreign investment will be reviewed and simplified," she had said. So far, the insurance sector has attracted Rs 82,000 crore throug

Exporters, industry bodies knock on RBI's door for US tariff buffer

Exporters and industry bodies sought RBI relief including moratoriums, relaxed NPA norms, and REER settlements to counter the impact of 50 per cent tariffs by the US

GST revamp to set off demand, investment, job cycle: FM Nirmala Sitharaman

Sitharaman says the govt will shift focus to speed up disinvestment

GST reforms: Taxation can't be an emotional decision, says FM Sitharaman

Days after the big-bang GST reform announcement, FM Nirmala Sitharaman, at her North Block office on Saturday, spoke at length on a range of issues in an hourlong interaction with Business Standard

Separatist mindset dominates DMK's Dravidian model of politics, says FM

Finance Minister Nirmala Sitharaman has said that the ruling DMK in Tamil Nadu is raising emotive issues around language and Dravidian identity to target the BJP as it has no answers to allegations of corruption and caste-crimes plaguing its government. She asserted that there can be "no bigger bogus argument" than that her party is against Dravidian interests. Speaking to PTI, Sitharaman was scathing in her condemnation of the DMK government in the state, citing corruption allegations against ministers, incidents of crimes against women, caste-violence, especially against Dalits, and the "rise" in drug abuse, and said the party has no answers to these charges. "Their (DMK) time is spent on not looking at these incidents but bringing separatist logic. They allege their tax money is going to Bihar. Is Bihar in Pakistan? People from Bihar can work in your factories. You can make your profit. But you want to keep your tax money to yourself. Separatist mindset dominates the so-called ..

Govt keeping 'good watch' on rupee as several currencies fall, says FM

Finance Minister Nirmala Sitharaman has said that the government is keeping a 'good watch' on exchange rates, stressing that besides rupee several other currencies have depreciated against the US dollar. "The rupee slide is largely against the dollar, not against any other currencies. That's also because of the way globally, the dollar has strengthened," she said when asked if the slide of rupee against greenback is a concern. "This is not the case only with rupee versus dollar, it's the case with many other currencies versus the dollar. So we are keeping a good watch on this," she told PTI in an interview. The rupee plummeted to a record low and closed at 88.27 against dollar after touching an intra-day low of 88.38 on Friday. The fall came amid concerns over US tariffs, while intervention by the Reserve Bank of India through state-run banks helped limit further losses. The steep tariff of 50 per cent imposed by the US on Indian goods took effect on August 27. The tariffs - among

Spurt in consumption to meet fiscal deficit target of 4.4%: Sitharaman

Finance Minister Nirmala Sitharaman has expressed confidence that revenue buoyancy driven by spurt in consumption will take care of the estimated GST shortfall of Rs 48,000 crore following reduction in tax rates on a host of items, and hence there will be no impact on public finances but definitely bolster GDP growth. She also emphasised that consumption boost to be provided by landmark GST reform and better-than-expected first quarter GDP growth number may help in exceeding the projected pace of 6.3-6.8 per cent for FY26. Asked about impact of GST rate cuts on fiscal deficit, Sitharaman said, Rs 48,000 crore financial implication is a static number based on a base year, but when it gets implemented, base situation changes. "So, I think the consumption spurt from September 22 will increase income buoyancy. To a large extent, this Rs 48,000 crore amount we will be able to make it up this year itself. So I don't see an impact on my fiscal deficit or my fiscal management. I will stick

PM Modi's nudge ushered in biggest GST reform in 8 years: Sitharaman

'Ek baar aap GST dekh lo!' - Prime Minister Narendra Modi's gentle nudge to Finance Minister Nirmala Sitharaman in December last year sparked the beginning of a mammoth exercise to overhaul the tangled goods and services tax regime. And the final outcome is a significantly simplified system with lower tax rates and easier compliance for businesses. Sitharaman, who, along with her team, began work to identify anomalies in the present four-tier structure and compliance issues faced by businesses, was once again reminded by the Prime Minister when she was preparing the Budget for the 2025-26 fiscal year. 'Aap GST ke upar kar rahi ho na kaam?' Modi had inquired. Her discussion with the Prime Minister led Sitharaman to begin work on reviewing everything in GST - not just rates and tax slabs but how to make the regime more friendly for businesses, particularly small and medium businesses. In an interview with PTI, Sitharaman recalled the parallel works that happened - from overhauling the

GST reforms to make life easier for both businesses, consumers: Sitharaman

Finance Minister Nirmala Sitharaman said GST reforms include faster refunds, easier registrations and lower tax rates on nearly 400 products, benefiting 140 crore people

Sitharaman thanks state FMs for support in implementing GST overhaul

Finance Minister Nirmala Sitharaman hailed the GST Council's unanimous decision to cut tax rates, thanking state finance ministers for prioritising public relief over revenue concerns

Centre may introduce Bill in winter session to replace tobacco GST cess

New levy could follow full repayment of GST compensation loans, keeping overall tax incidence on tobacco products high

'Divide and rule principle': Sitharaman slams justifying Navarro's remark

Finance Minister Nirmala Sitharaman criticised attempts to justify US trade adviser Peter Navarro's "Brahmins profiteering" remark, calling it a colonial divide-and-rule tactic