Page 55 - Nirmala Sitharaman

Govt taking steps to cut pending cases under companies law: FM Sitharaman

The Ministry of Corporate Affairs (MCA) has taken several steps, including the withdrawal of prosecutions and compoundable cases, to reduce litigations under the companies law, Finance Minister Nirmala Sitharaman said Monday. Sitharaman, also the Union Minister of Corporate Affairs, said in Lok Sabha that 14,247 prosecutions were withdrawn in the first special drive conducted in 2017 and a decision has also been taken for withdrawing 7,338 compoundable cases identified in the second special drive in 2023. "Till July 15, 2024, a total of 6,294 applications for withdrawal have been filed before various courts. However, serious or non-compoundable offences will continue to be prosecuted," she said in Lok Sabha. The minister said the MCA has taken several steps to review pending prosecutions in various courts. In 2017 and later in 2022, a committee of senior officers of the ministry was set up to give recommendations on withdrawal of prosecutions. The objective was to free judicial cou

Union Budget 2024: Here's what the Economic Survey says about key sectors

The Economic Survey revealed an overall positive report and outlook of key sectors, noting that the uncertain global climate may hamper economic growth going ahead

Short-term inflation outlook benign, normal monsoon expected: Eco Survey

The short-term inflation outlook for India is benign, and the expectation of a normal monsoon and moderating global prices of key imported items give credence to the projections made by the RBI and IMF, the Economic Survey said on Monday. However, to ensure long-term policy stability, the Survey 2023-24 suggested making focused efforts to increase the production of major oilseeds, expanding the area under pulses, and assess the progress in developing modern storage facilities for specific crops. The Economic Survey 2023-24, tabled in Parliament by Finance Minister Nirmala Sitharaman, also suggested linking of price monitoring data for essential food items collected by different departments to help monitor and quantify the build-up of prices at each stage from the farm gate to the final consumer. "The ongoing efforts to construct the producer price index for goods and services may be expedited to have a greater grasp of episodes of cost-push inflation," said the Survey authored by a

Monsoon session begins: PM Modi's address, economic survey; what to expect

The 22-day long Monsoon session is anticipated to have 16 sittings and tentatively conclude on August 12, with a focus on financial businesses related to the Budget

Union Budget 2024: The significance of the Economic Survey explained

The Economic Survey 2024, to be presented today, will evaluate India's economic recovery, growth potential, and address key challenges, setting the stage for budgetary decisions and fiscal policies

Finance Minister to table Economic Survey on Day 1 of Budget session today

The Economic Survey of India 2023-24, along with a statistical appendix, will be laid on the table of the Houses of Parliament on Monday. The Budget for the Union Territory of J&K on 23 July.

Monsoon session begins Monday, Union Budget 2024 announcement on Jul 23

Finance Minister Nirmala Sitharaman will present the Union Budget on Tuesday as the Monsoon Session of Parliament gets underway next week with the united opposition set to corner the NDA government on issues ranging from the NEET paper leak case and railway safety. The Monsoon Session begins on Monday and will have 19 sittings till August 12 when the government is expected to present six bills, including the one to replace the 90-year-old Aircraft Act, and also get the Parliament nod for the budget of Jammu and Kashmir, which is under central rule. Sitharaman will also table the Economic Survey in Parliament on Monday. Parliamentary Affairs Minister Kiren Rijiju has convened a meeting of the floor leaders of political parties in Parliament to understand issues they would want to raise during the session. The BJD, led by former Odisha chief minister Naveen Patnaik, has declared that it would play the role of a strong opposition and aggressively raise issues of interest to the state

From T V Somanathan to Vivek Joshi, meet FM Sitharaman's Budget team

The July 23 Budget, coming after the general elections, would be watched for coalition compulsions, electoral lessons

Delhi should get Rs 10,000 cr from Rs 2 trillion paid as income tax: Atishi

Ahead of Budget 2024, Delhi Minister Atishi demanded the release of additional funds for Delhi for improving infrastructure across roadways, transportation, and power sectors

Budget 2024: What do women entrepreneurs expect from FM Nirmala Sitharaman?

Union Budget 2024: Experts seek women-centric initiatives that harness their entrepreneurship potential by providing credit opportunities, improve financial literacy and foster skill development

Budget 2024: Capital markets eyeing hike in STT on high-frequency traders

Union Budget 2024: The Securities Transaction Tax (STT) applies to every sale and purchase of equities listed on exchanges. The STT rate for selling options is 0.017%, while for futures, it is 0.01%

Capital gains tax rejig on share sale in Modi 3.0 budget can spook markets

Market pundits also expect some changes in the tax treatment of gains arising from trades in the futures & options (F&O) segment

Income tax rate cut, sops for PSUs: Brokerage expectations from budget 2024

Expectations (as measured by pre-budget equity market performance), wrote analysts at Morgan Stanley in a note, are important in determining what the market does immediately after the budget

India put up tariff walls. To revive factories, it must bring them down

The jobs crisis in the most-populous nation has assumed alarming proportions. Young graduates are nine times more likely to be unemployed than those who can't read or write

Fiscal consolidation

Both Centre and states need to reduce deficit

Budget 2024: TDP seeks grants for backward areas, timely Polavaram funding

The Telugu Desam Party raised three demands, including allocation of grants for backward districts, financial assistance for the development of Amaravati, and prompt fund release for Polavaram project

Union Budget expectations highlights: Real estate sector seeks tax relief

Budget 2024 highlights: FM Nirmala Sitharaman is all set to present the Union Budget 2024-25 in the Lok Sabha on July 23

Budget 2024: ICC calls for changes in custom duty to boost manufacturing

Ahead of Budget 2024, to be tabled in the Parliament on July 23, the Indian Chamber of Commerce has called for streamlined customs duties and tax reforms to boost domestic manufacturing

Govt should rationalise customs duty in Budget to boost domestic mfg: ICC

The Indian Chamber of Commerce (ICC) has suggested the government to rationalise customs duties in various sectors including steel, solar battery, aluminum, and lithium cells in a bid to boost domestic manufacturing. Finance Minister Nirmala Sitharaman is scheduled to present the Union Budget for financial year 2024-25 on July 23. ICC President Ameya Prabhu said protective measures are needed for the growth of domestic industry in sectors including steel, solar battery, aluminum, and lithium cells. "There is a need for rationalization of customs duty in these specific sectors in a holistic manner. Huge potential is there to boost domestic manufacturing and make India a global hub for manufacturing," Prabhu said. He added that levies on raw materials impact domestic players particularly the downstream firms. He also asked for correction in inverted duty structure by cutting down duty on mixed petroleum gas from 5 per cent to 2.5 per cent. "To boost domestic manufacturing, there is

Finances, infra in focus during Andhra Pradesh CM Naidu's 2nd Delhi visit

While the previous visit of Naidu's was budget-focused, the current one will have him discuss Andhra's medium-term financial and infrastructure needs