Page 65 - Nirmala Sitharaman

TMC depriving poor of central schemes for sake of politics: FM Sitharaman

The politics of denying these benefits to the people of Bengal is a disservice done to them, the finance minister added

Meeting with FM 'consultative' and 'positive': fintech, startup executives

The finance minister added that companies must ensure strict compliance and adherence with regulations

FM Sitharaman confident of India Inc aligning to nation's development goals

Finance Minister Nirmala Sitharaman on Tuesday exuded confidence that India Inc will align itself to the developmental goals of the nation with an objective of making the country a developed nation or 'Viksit Bharat' by 2047 on the 100th anniversary of independence. Sitharaman said Prime Minister Narendra Modi has clearly indicated that the goal of Viksit Bharat is to be attained to provide the future generations a better India. Addressing a session on 'Viksit Bharat @ 2047: Viksit Bharat & industry', organised by Ficci, the minister said that industry's role is critical in achieving the goal by 2047. "You were with India during the freedom struggle, you built industry and capacity despite the colonial pressure...So Indian industry has always kept that spirit up and against terrible odds kept moving along on national interest. "I can't see how they will be left out in this game of building a developed India by 2047. So it should be natural to India's industry to align itself with .

Digital infrastructure is a modern day factor of production: FM Sitharaman

Sitharaman was speaking at the National Conclave on Viksit Bharat 2047 organised by the Federation of Indian Chambers of Commerce and Industry (FICCI)

Sitharaman asks India Inc to align with 'Viksit Bharat' @ 2047 vision

Finance Minister Nirmala Sitharaman on Tuesday exhorted Indian Inc to align itself with the goal of 'Viksit Bharat' by 2047, when India will complete 100 years of independence. Addressing a session on 'Viksit Bharat @ 2047: Viksit Bharat & industry', organised by Ficci, the minister also assured the industry that reforms will continue in the third term of the Prime Minister Narendra Modi-led government. The new government will be formed after the general elections due in April-May and the BJP is confident that Prime Minister Modi will return to power with a greater majority. Sitharaman said that India has moved up to become the fifth largest economy and is on the way to become the third largest global economy. The minister said that several reforms were undertaken by the government during the last 10 years and the trend will continue. She said that the reforms to be undertaken by the next Modi government will touch on factors of production.

Nirmala Sitharaman, Jaishankar to contest LS polls, says Pralhad Joshi

Union Minister Pralhad Joshi has said Union Ministers Nirmala Sitharaman and S Jaishankar will contest the upcoming Lok Sabha elections. However, it has not been decided yet as to where they will contest from, he added. "It is appearing in the media. More or less it is final that they (Nirmala Sitharaman and Jaishankar) will contest the Lok Sabha elections. It has not been decided yet from where they will fight, whether it is in Karnataka or some other state," Joshi, who holds the Coal and Mines portfolio, told reporters here on Monday. To a question whether it will be Bengaluru, Joshi said, "How can I answer when nothing has been finalised?" Union Finance Minister Sitharaman and External Affairs Minister Jaishankar are Rajya Sabha members from Karnataka and Gujarat respectively.

FM Nirmala Sitharaman asks fintechs to blend innovation, compliance

Regulators told to hold monthly meetings with startups and fintech firms

FM Sitharaman asks RBI to hold monthly meetings with startup, fintech firms

Finance Minister Nirmala Sitharaman on Monday asked Reserve Bank of India to hold monthly meetings with startup and fintech firms to address their concerns, officials said. The minister made the suggestion at a meeting with startup and fintech eco system entities that was attended by top executives of about 50 firms, including Razorpay, CRED, and venture capital firm PeakXV. "Finance Minister suggested that RBI may hold a meeting on a fixed day every month via virtual mode with the startup and fintech firms to address their concerns and issues," one of the officials said. The official said that no Paytm-related anxiety or concerns were shown by the startup founders and fintech entities during the meeting. From the government side, the meeting was attended by Financial Services Secretary Vivek Joshi, DPIIT Secretary Rajesh Kumar Singh and MeitY (Ministry of Electronics and Information Technology) Secretary S Krishnan. RBI Deputy Governor T Rabi Sankar was also present. SBI Chairman

FM-fintech companies meet on Monday: Compliance, innovation on table

Paytm may be absent from the meeting

Modi-govt focussed on innovation, tech development: Nirmala Sitharaman

She inaugurated the fifth campus of BITS Pilani in Mumbai, spread over 63 acres and with an investment of Rs 1,500 crore

FinMin asks depts to surrender unspent Budgetary allocation by March 8

Finance Ministry has asked other ministries and departments to surrender unspent Budgetary allocation for 2023-24 by March 8. The last date for accepting the Surrender of Savings anticipated in the grants for 2023-24 has been fixed as March 8, 2024, an office memorandum issued by the Department of Economic Affairs dated February 22 said. It is requested that the details of surrender of savings under each unit of appropriation may be sent to the Budget Division, Ministry of Finance by the said date in a specified format, it said. "The ministries/departments are also requested to furnish the details of excess or shortfall in recoveries, receipts if any, in the respective grants against the original estimates or recovery, while intimating the surrender of savings," it said.

India has moved to 5th spot from 10th in world in terms of economy: FM

Union Finance Minister Nirmala Sitharaman on Friday said under Prime Minister Narendra Modi's leadership, India has moved up to the fifth position from the 10th spot in the world in terms of economy. "In the next year and a half, we will be at the third position," she said, adding that the standard of living of the citizens is better in a country that has a strong economy and everyone benefits from it. The senior Bharatiya Janata Party (BJP) leader said this is the first government in the country that listens to people, then makes schemes and works to deliver the benefits of such schemes to people. "The BJP is such a party in which even the smallest worker can reach the highest position by working for the party," she said. Claiming that the INDIA opposition bloc has disintegrated, Sitharaman said nothing is achieved by taking photographs. "They (Congress leader Rahul Gandhi and Samajwadi Party chief Akhilesh Yadav) have nothing left to say to the public. Prime Minister Modi has a

FSDC meet discusses ways for simplification, digitisation of KYC process

Take more steps to curb illegal lending apps: FM

FM asks World Bank officials to lead G20 agenda of strengthening MDBs

FM also suggested the World Bank explore the possibility of implementing Infrastructure Investment Trusts in infrastructure sectors such as roadways

Paytm fiasco: FM Sitharaman to meet heads of fintech firms next week

Amid the ongoing problem faced by leading fintech player Paytm, Finance Minister Nirmala Sitharaman has decided to meet heads of financial technology companies next week to persuade them to strictly follow regulatory norms. Paytm Payments Bank Ltd, an entity promoted by One97 Communications Ltd, faced regulatory actions by the Reserve Bank for failure to comply with host of regulatory norms, including Know Your Customer (KYC) guidelines. According to sources, Sitharaman will be meeting CEOs of fintech companies next week to hear their concerns and problems. However, sources said, she will impress upon them the need to abide by regulatory norms as they are dealing with money of individuals. The meeting is expected to see participation from senior officials of Reserve Bank, finance ministry, Department for Promotion of Industry and Internal Trade, among others. Last week, the RBI advised customers as well as merchants of Paytm Payments Bank Ltd (PPBL) to shift their accounts to othe

Finding the right policy for edible oil

The strategy mooted by the finance minister to attain atmanirbharta in edible oilseeds like mustard, groundnut, sesame, soybean, and sunflower involves research on high-yielding crop varieties

FM Sitharaman meets 16th Finance Commission chairman Arvind Panagariya

Finance Minister Nirmala Sitharaman on Friday met 16th Finance Commission Chairman Arvind Panagariya. The meeting came within two days of the first meeting of the commission in which the members and the chairman discussed the terms of reference. Full-time members of the commission are former expenditure secretary Ajay Narayan Jha, retired bureaucrat Annie George Mathew, and Artha Global Executive Director Niranjan Rajadhyaksha, while SBI Group Chief Economic Advisor Soumya Kanti Ghosh is a part-time member. "Shri @APanagariya, Chairman - 16th Finance Commission, calls on Smt @nsitharaman," Sitharaman's office said in a post on X. The commission, chaired by former vice chairman of Niti Aayog Panagariya, will be assisted by Secretary Ritvik Ranjanam Pandey, two joint secretaries and one economic advisor, in its functioning. The government constituted the commission under the chairmanship of Panagariya on December 31, 2023. The panel would submit its report to the President by Octobe

Look for ways to stay relevant in digital era: FM Sitharaman to SPMCIL

The Finance Minister was addressing the 19th Foundation Day celebrations of the SPMCIL in virtual mode

FM Sitharaman launches 3 souvenir coins based on Ram temple theme

Finance Minister Nirmala Sitharaman on Thursday released three souvenir coins, including the one based on the theme of Ram Lalla and Ram Janmabhoomi Temple, Ayodhya. At the 19th foundation ceremony of state-owned Security Printing & Minting Corporation of India (SPMCIL), Sitharaman also released bi-metallic clad souvenir coin on Enlightenment of Lord Buddha (Limited Edition - Buddha & Stupa images are oxidised with Matte finish) and another on Greater one-horned Rhino (part of Endangered Animals of India series). Sitharaman lauded the efforts of SPMCIL for coming up with commemorative stamps and coins on Panchatantra theme which India has gifted during IMF-World Bank bilateral meetings. "The themes with which off late you are coming up with whether it's commemorative stamps or coins shows that you want to keep abreast of the developments around the world, environment concerns, concerns for divyang and also making it attractive enough to become items worthy of being gifted," ...

CAIT members meet FM, demand deferment of I-T Act clause related to MSMEs

Representatives of traders' body CAIT on Wednesday met Finance Minister Nirmala Sitharaman and demanded that implementation of a clause in Income Tax Act related to MSMEs payment rule be deferred by a year to April 2025. In a release, Confederation of All India Traders (CAIT) said a delegation led by its Secretary General Praveen Khandelwal conveyed the traders' concerns to the finance minister and suggested a solution during the meeting. In its memorandum, CAIT welcomed the government's decision, highlighting the significance of ensuring timely payments to the MSME sector within 45 days to maintain uninterrupted cash flow for traders. However, given the "lack of clarity" surrounding the applicability of the law to traders and other related provisions, CAIT called for suspension of implementation of Section 43 (b)h of the Income Tax Act until sufficient clarification and information dissemination are achieved nationwide. "CAIT further appealed to the government to postpone the ...