Page 52 - Nirmala Sitharaman

Modi 3.0: Nirmala Sitharaman set to present seventh Budget in a row

A JNU alumnus, Sitharaman led the country in the G20 discussions, bringing to the table for the very first time issues related to cryptocurrency and other much-needed reforms as well

Meet Nirmala Sitharaman, feisty defender of Modi govt to filling big shoes

Nirmala Sitharaman, who joined the likes of Arun Jaitley and Manmohan Singh by serving a full term as Finance Minister and is credited with carrying forward second-generation reforms, created a record by being the first woman to be sworn in as minister for the third consecutive term of the Modi government. Being a fiery spokesperson of the BJP, she was inducted into the Cabinet when Narendra Modi became the Prime Minister of the NDA government in 2014. As a staunch defender of the Modi government's economic policies and executor, she created a record when she was appointed as the first female Raksha Mantri, or Defence Minister, in 2017. Prior to that, she was industry and commerce minister. When her mentor Arun Jaitley took ill, Sitharaman was given the charge of the finance portfolio in the newly re-elected Modi government after the 2019 general elections, when BJP won its highest seats of 303. She became the first full-time woman Finance Minister in Independent India. Earlier, ..

Rahul seeks JPC probe into June 4 crash, calls it biggest stock market scam

Rahul Gandhi questioned why Prime Minister Narendra Modi, Home Minister Amit Shah, and Finance Minister Nirmala Sitharaman made remarks concerning the stock market

Retail investors' participation in F&O trading surges, say experts

With growing participation of retail traders in the futures & options (F&O) trading, experts on Sunday said the prospects of quick profits and speculative nature of the instrument has attracted investors to this segment. They suggested investors to approach F&O trading with thorough knowledge and careful risk management. Finance minister Nirmala Sitharaman and chief economic advisor V Anantha Nageswaran have recently flagged the growing risk of F&O trading for retail investors. In November 2023, Sebi chief Madhabi Puri Buch also cautioned investors against heavy bets on F&O. The caution was likely aimed at encouraging a more informed and prudent approach to trading in these products, helping to safeguard investors' financial well-being while allowing them to take advantage of market opportunities. Despite this, F&O trading continues to grow in popularity, driven by the potential for profit and the rising trading volumes. The segment's popularity is evident from

Will take decisive steps to stabilise banking system: FM Sitharaman

Sitharaman also said that the 'Samudra Manthan' of sorts in the banking sector under PM Narendra Modi's leadership yielded positive results along with expected challenges during the 'churn'

Growth momentum will continue in third term of Modi govt: FM Sitharaman

Finance Minister Nirmala Sitharaman on Friday termed 8.2 per cent GDP growth in 2023-24 as 'remarkable' and said the growth momentum will continue in the "third term of the Modi Government". Today's GDP data showcases robust economic growth with a growth rate of 8.2 per cent for FY 2023-24 and 7.8 per cent for the fourth or March quarter of FY 2023-24. "This remarkable GDP growth rate is the highest among the major economies of the world," Sitharaman said in a post on X. She said the manufacturing sector witnessed a significant growth of 9.9 per cent in 2023-24, highlighting the success of the Modi government's efforts for the sector. Many high-frequency indicators indicate that the Indian economy continues to remain resilient and buoyant despite global challenges, she added. "India's growth momentum will continue in the third term of PM Shri @narendramodi-led government," she said. The last phase of Lok Sabha elections will be held on Saturday while the results will be announced

Modi govt revived banking sector, Rs 10 lakh cr bad loans recovered: FM

Finance minister Nirmala Sitharaman on Friday said the Modi government has turned around the banking sector through various reforms and improved governance which has led to banks recovering more than Rs 10 lakh crore from bad loans between 2014 and 2023. She said the Enforcement Directorate has investigated around 1,105 bank fraud cases, which resulted in the attachment of Rs 64,920 crore worth of proceeds of crime. As of December 2023, assets amounting to Rs 15,183 crore have been restituted to the Public Sector Banks (PSBs). "Recently, India's banking sector achieved a significant milestone by recording its highest-ever net profit, crossing Rs 3 lakh crore. The banking sector turned around due to PM Shri @narendramodi's strong and decisive leadership. Our government atoned for the UPA's sins in the banking sector through comprehensive and long-term reforms," Sitharaman said in a post on X. She said there has been no leniency in recovering bad loans, especially from large ...

Economy expected to have grown at slower pace in Jan-Mar qtr: Survey

The median forecast from a survey of 54 economists put GDP growth at 6.7% year-on-year for the three months, the fourth quarter of India's 2023-24 fiscal

Incorrect to say Centre not giving funds to Punjab, says FM Sitharaman

It is incorrect to say that the Centre is not giving funds to the Punjab government, Union Finance Minister Nirmala Sitharaman said on Tuesday here, responding to the AAP government's allegation that the Union is shortchanging the state. "The reality is that the Punjab Government is not using money rightfully," she said. Sitharaman was in Ludhiana Tuesday evening to interact with the MSMEs and industrialists. During the interaction, she slammed the AAP government in Punjab and said that it is misleading the people of the state. Her remarks came in response to the Punjab AAP government's claim that the Centre withheld Rs 9,000 crore from the state's share. On another matter, the Finance minister said any changes in the income tax would be incorporated after the formation of the new government. She said she is confident that the industry will invest in Punjab again. She said that according to a study conducted by the MSME promotion council in January 2024, Punjab has witnessed 85

Centre saved over Rs 25,500 cr via fund transfer norms: FM Sitharaman

The NDA government has disclosed off-Budget funded schemes in the Budget documents from FY22

Modi govt reshaped, transformed Budget in last decade: FM Sitharaman

Finance Minister Nirmala Sitharaman on Monday said the Modi government has reshaped the Union budget in the last 10 years from a mere record of expenditures to a strategic blueprint for equitable distribution. The minister asserted that the government would continue to maximise the value of taxpayers' money by putting it to the best possible use. She said the Modi government has prioritised transparency in its budgeting practices and numbers. Countries with transparent budgets are often viewed more favourably by international bodies such as the IMF and World Bank. This can lead to improved global trust. "This starkly contrasts the @INCIndia-led UPA government's repetitive practice of hiding the deficits through off-budget borrowings and issuance of 'Oil Bonds', which somewhat covertly shifted the fiscal burden to future generations. Under UPA, standard fiscal practices were routinely changed to make Budget numbers look favourable," Sitharaman said in a series of posts on X. She sa

PE funds partly behind the 62% drop in India's net FDI? Samir Arora's view

The ace fund manager was reacting on 'X' to a Business Standard story that quotes a Reserve Bank of India (RBI) data on gross FDI flows into the country in FY24

Consultations underway at MCA for expansion of audit firms in India

These discussions have involved representatives from notable firms who have independently submitted their recommendations to the ministry

Zero electricity bill, tax tweaks: Govt's 100-day agenda, budget wish list

From a long-term perspective, however, the focus, Mirae Asset said, would be on infrastructure development, farm laws, skill development, and creating employment

FM Nirmala Sitharaman blames Cong for de-industrialisation of Bihar

She said that from 2004 to 2014, via tax devolution as per the Finance Commission formula, Bihar received Rs 2.04 trn but under the Modi government, it received Rs 7.07 trn in 2014-2024 so far

FM Nirmala Sitharaman asks ICAI to set up 'Big 4'- like Indian firm

Interacting with the ICAI in Patna, Sitharaman sought a commitment from them to start work on the same as part of their 100-day agenda for Viksit Bharat by 2047

Bengal could not be proactive to attract industry: FM Nirmala Sitharaman

Citing the example of the proposed semiconductor project in Assam, Sitharaman said that India's own big-ticket investment in chip manufacturing had gone to Assam, crossing Bengal

WATCH: Sitharaman's viral reply on broker's tough question on tax burden

During a BSE event held in Mumbai on Tuesday, Finance Minister Nirmala Sitharaman faced tough questions from a stockbroker on the heavy taxation regime in India

PM Modi coming back with good majority in Lok Sabha: FM to India Inc

BJP leader and Finance Minister Nirmala Sitharaman on Friday exuded confidence that Prime Minister Narendra Modi is coming back to power with a good majority in the Lok Sabha. If the BJP wins majority in the ongoing Lok Sabha elections, Modi will become the Prime Minister for the third term in a row. Addressing Industry captains at the CII Annual Business Meeting here, she said, "We are confident that Prime Minister Narendra Modi is coming back with a good majority". General elections are going on in the country. Out of seven phases, four phases have been concluded. The counting of votes is scheduled for June 4. "Soon after the government is formed, we look forward to a more pointed engagement with the CII to see what best can be done in the July budget, which will be the full year's budget...a lot of consultation can begin with the CII team as well," she said. Emphasising that India's story is a compelling growth story, Sitharaman said the country presents immense growth ...

Don't use our matters for political mileage: Somnath Bharti's wife to FM

AAP's New Delhi Lok Sabha constituency candidate Somnath Bharti's wife Lipika Bharti on Saturday urged Union Finance Minister and BJP leader Nirmala Sitharaman to not use her family matters for "political mileage". Addressing a press conference on AAP Rajya Sabha MP Swati Maliwal assault case on Friday, Sitharaman cited past instances of accusations of attacking women against several AAP leaders, including Bharti, and called the party an "anti-women" party. Lipika, along with her husband, said in a press conference that they were living happily as husband and wife. "Every couple has their dispute. We had a dispute 10 years ago and it was resolved back then only. My appeal is that do not use us for your political mileage," she said. Lipika added that the AAP leader understands his responsibilities as husband and father. Bharti also hit out at Sitharaman saying if the BJP government had worked at the Centre, she would not need to rake up his family matter to hurt his wife and ...