Page 50 - Nirmala Sitharaman

Budget 2024: Rise in standard deduction limit likely in new tax system

Union Budget 2024: Standard deduction represents a portion of the income that is not subject to taxation; it serves as a comprehensive allowance for tax deductions available to salaried employees

Budget Watch: From toys to footwear, new PLI schemes knocking on the door

Amid demands from industry bodies and govt departments, the upcoming Union Budget 2024 may see PLI schemes introduced for even more items

FinMin to meet CEOs of PSBs on Jun 25, review financial inclusion schemes

The finance ministry has called a meeting of heads of Public Sector Banks (PSBs) on Tuesday to review progress of various financial inclusion schemes, including PM Vishwakarma, Jan Suraksha and Mudra Yojana. The meeting is scheduled to be chaired by Financial Services Secretary Vivek Joshi. According to sources, the meeting would review the progress of various flagship schemes, including PM Vishwakarma, StandUp India, PM SVANidhi , among others. Other financial inclusion related issues would also be discussed in the meeting, sources said. Prime Minister Narendra Modi in September last year launched PM Vishwakarma scheme under which traditional craftsmen and artisans will be provided loan assistance at a minimal interest rate without the need for collateral. With a financial outlay of Rs 13,000 crore for a period of five years, the scheme will benefit about 30 lakh families of traditional artisans and craftsmen, including weavers, goldsmiths, blacksmiths, laundry workers, and ...

Education Budget 2024: What did FM Sitharaman say in the past five Budgets?

Education Budget 2024: The BJP-led NDA government has steadily increased its allocation towards the education sector, focusing on skilling and digitisation. Here are highlights of the last 5 years

53rd GST Council meet outcome | No tax on railway services, 12% GST on milk cans & more

The 53rd Goods and Services Tax (GST) Council in its meeting on June 22 approved several compliance measures, aiming at reducing tax litigation and enhancing ease of business across the sectors.

Budget Watch: Why Ashok Gulati thinks Budget 2024 may have a populist tinge

In an exclusive interview, eminent agriculture economist Ashok Gulati talks about expectations for agriculture from Union Budget 2024 to be presented in July 2024

Budget 2024: Will the govt bring back fare concessions for senior citizens?

Union Budget 2024: According to RTI disclosures, Indian Railways earned around Rs 2,242 crore from about 150 million senior citizens during the financial year 2022-23

Budget 2024: High allocation expected for railways despite capex pressure

A report, citing government officials, said that the gross budgetary support for railways is set to increase to Rs 2.6 trillion

Budget 2024: Infrastructure takes centre stage post Lok Sabha elections

With the 2024 Lok Sabha elections now concluded, all eyes are on the Union Budget, which will be announced in July. Here's a glimpse into the key infra allocations of Interim Budget 2024

ICAI, MCA secretary discuss road map to create big Indian companies

Earlier in May, Finance Minister Nirmala Sitharaman had said that the ICAI should take it as a challenge to set up an Indian big four firm and seek global clients

New Odisha govt seeks higher allocation of funds for infra development

The new BJP government in Odisha has submitted a memorandum to the Centre seeking the expansion of Paradip port, a second AIIMS at Sambalpur and higher allocation of funds to further accelerate infrastructure development in the state. The memorandum was submitted by Odisha Deputy Chief Minister K V Singh Deo who attended the meeting of finance ministers of the states before the Union Budget. The meeting was chaired by Union Finance Minister Nirmala Sitharaman in New Delhi on Saturday. The Odisha government memorandum sought higher allocation under the Scheme for Special Assistance to States for Capital Investment (SACI), 2024-25 to further accelerate infrastructure development, an official release said. Apart from the demand for the establishment of a second AIIMS at Sambalpur, the state government also sought expeditious completion of National Highways, specifically the Coastal Highway and Capital Region Ring Road (CRRR) projects, in Odisha. The new BJP government in Odisha also .

News updates: Govt orders CBI probe in NEET paper leak case

Catch all the latest news updates from around the world here

Budget 2024: TN urges FinMin to provide Rs 63,000 cr for CMRL Phase II

Tamil Nadu government on Saturday urged Union Finance Minister Nirmala Sitharaman to make provisions in the upcoming union budget and sanction Rs 63,246 crore for the Chennai Metro Rail Phase II project for which the foundation stone was laid in November 2020. This central project recommended by the Public Investment Board in August 2021 was awaiting approval of the Cabinet Committee on Economic Affairs for the last three years, Tamil Nadu Finance Minister Thangam Thennarasu said. Pending this approval, the entire expenditure is being borne by the state from its own funds, he said. "The delay in approval is making a severe impact on our state finances and has slowed the pace of implementation of this project, causing hardships to the people of Chennai. I urge the Union Government to immediately sanction the project, as originally envisaged, and ensure adequate provisions are made in the Union Budget 2024-25," he said . He was speaking at the meeting of state finance ministers with .

GST Council waives interest, penalty on tax demands between FY18 and FY20

Reconstituted rate rejig state panel; asked to give status report in subsequent meet post Budget

Centre anticipates Rs 70k crore GST cess surplus from 'sin' goods

The surprise surplus is attributed to impressive revenue generation from taxes on the so called "sin" goods like pan masala, cigarettes

Budget 2024: FM vows Centre's support to states via timely tax devolution

Finance Minister Nirmala Sitharaman on Saturday underlined Centre's support to states through timely tax devolution and GST compensation arrears to stimulate growth. At the pre-budget meeting with state finance ministers, Sitharaman also nudged states to take advantage of the scheme under which the Centre gives 50-year interest free loan to states for undertaking specified reforms. In her remarks, the Union Finance Minister underlined the union government's support to states through timely tax devolution, Finance Commission grants, and arrears of GST Compensation being provided for providing stimulus to growth, an official statement said. Regarding the 'Scheme for Special Assistance to States for Capital Investment', Sitharaman mentioned that while most of the loans are untied, a part of it is conditional-linked to citizen-centric reforms by states and sector-specific capital projects and requested the states to avail these loans by fulfilling requisite criteria. Most states ...

Budget: Farm bodies for higher agri R&D spend, more PM-KISAN allotment

The farmers' groups pitched for the rationalization of fertilizer subsidies and infrastructure development to boost the sector's resilience against climate change

Agri bodies urge FM Sitharaman to boost research, rationalise subsidies

Pre-budget meeting: Finance Minister meet agricultural bodies to discuss policy and budget recommendations

Budget 2024: Capex momentum for developing highways likely to continue

Focus will be on the quality of work done and not just the length of highways built, say senior govt officials

Increase capex, simplify taxes, bring more PLI schemes: India Inc to FM

Sanjiv Puri, president of the Confederation of Indian Industry (CII), suggested that the capex spending should be increased by 25% over the revised estimate of 2023-24