Page 65 - Nirmala Sitharaman

We are more federal than UPA, says NDA government's White Paper

The transfer of these resources to states constituted 3.36 per cent of gross domestic product (GDP) during UPA rule against 4.24 per cent during NDA rule so far

No quick fixes, took bold reforms to nurture economy: Govt in White Paper

The 59-page document, which compared the last two decades of the United Progressive Alliance (UPA) versus the NDA government, criticised the former for falling short of delivering on crucial reforms

Delivery of welfare schemes under Modi govt efficient: White Paper

It said during the 10-year rule of the Modi government, the amount unspent meant for schemes in social and rural sectors was just around Rs 37,064 crore

Overdependence on external commercial borrowing under UPA: White Paper

The white paper, tabled in Parliament on Thursday, compared the UPA government's two consecutive terms, starting 2004, vis-a-vis the NDA's tenure, beginning 2014

White paper reaffirms Indian economy's robust growth momentum: CII

The White Paper tabled in the Lok Sabha on Thursday by Finance Minister Nirmala Sitharaman reaffirms the Indian economy's robust growth momentum, industry body CII said, expressing confidence that the country's GDP will touch the USD 7 trillion mark before 2030. Finance Minister Nirmala Sitharaman tabled a 'White Paper on the Indian Economy' in the Lok Sabha. Sitharaman in her Interim Budget speech had announced that the government will come out with a white paper on the economy outlining the economic mismanagement in the 10 years of UPA rule till 2014. The NDA government has overcome the crisis of those years, and the economy has been put firmly on a high sustainable growth path with all-round development, Sitharaman said. R Dinesh, President CII, said the finding of the white paper tabled in Parliament reaffirms the Indian economy's robust growth momentum. "CII's in-house surveys capturing the pulse of the industry members have mirrored the optimism of the white paper on the ...

Emphasis on capex is the highlight of Interim Budget: FM Sitharaman

She also informed the Rajya Sabha that the unemployment rate in rural areas has decreased from 5.3 per cent in 2017 to 2.4 per cent in 2023

FM Sitharaman moves Finance Bill 2024 for consideration in Rajya Sabha

Finance Minister Nirmala Sitharaman on Thursday moved the Finance Bill 2024 for consideration in the Rajya Sabha. The Finance Bill 2024 will be considered for returning to the Lok Sabha which passed the bill on Wednesday. The finance minister also moved a bill related to Jammu and Kashmir budget bill and appropriation Bill authorising the government to meet expenses for four months in the next financial year. "I move that the bill to continue the existing rates of income tax for the financial year 2024-25 and to provide for certain relief to taxpayers and to make amendments in certain enactments as passed by Lok sabha be taken into consideration," Sitharaman said while introducing the Finance Bill 2024-25. The minister moved the appropriation vote on Account Bill 2024 as passed by Lok Sabha as part of the discussion on the interim budget. The Appropriation Bill 2024 , The Jammu and Kashmir Appropriation 2 Bill, and the Jammu and Kashmir Appropriation Bill 2024 were also moved by t

FM Sitharaman tables 'White Paper', blames UPA for 'mountain of bad loans'

The 'White Paper' states that the UPA government failed miserably to facilitate economic activities and created hurdles that held back the economy

K'taka CM protests Centre's 'injustice'; 'false narrative', says Sitharaman

Communist Party of India (M) leader and Kerala CM Pinarayi Vijayan, along with his Cabinet colleagues, will protest at Jantar Mantar against the Centre's alleged negligence towards southern states

We have been lot more prudent in managing fiscal deficit: FM Sitharaman

The FM also said that retail inflation had declined from an average of 6.8 per cent in April-December 2022 to 5.5 per cent in the corresponding period of April-December 2023

FM gave no final decision on foreign varsities in Budget: Kerala Minister

Kerala Higher Education Minister R Bindu on Wednesday made it clear that the LDF Government has taken no final decision to welcome foreign and private universities in the state and the Finance Minister just indicated about exploring it's possibilities in the recent budget. In the budget for the fiscal 2024-25 presented on Monday, Finance Minister K N Balagopal indicated about utilising such possibilities with utmost care protecting the interests of students, she told reporters here. There is a situation prevailing in the country in which the policy approaches of the Centre are being imposed upon states, she said. "As far as the Finance Minister is concerned, he spoke about the financial aspects of such possibilities while presenting the budget. He announced that such possibilities will be explored...not that a final decision has been taken (in this regard)," Bindu said. When foreign universities are permitted in the state's higher education sector, several aspects, including whethe

Inflation within tolerance, taking steps to check price rise: FM Sitharaman

Finance Minister Nirmala Sitharaman on Tuesday said the inflation has come down within the tolerance band as a result of the steps taken by the government to check price rise, especially in perishable commodities. Replying to a question in the Rajya Sabha, Sitharaman said Bhabha Atomic Research Centre (BARC) is working with the government on de-humidification of onions through Gamma Rays to give it a longer shelf life. "The government is seized of the difficulties, which arise due to shortage of perishable goods, which are not grown in India. The committee sits and reviews periodically, and the efforts have shown on the ground that inflation is now within the tolerable band," she said. India's retail inflation has declined from an average of 6.8 per cent in April-December 2022 to 5.5 per cent in the corresponding period of 2023. The retail inflation is now stable and within the notified tolerance band of 2 per cent to 6 per cent. The minister said that in order to check the volatil

Leveraging research

India needs to push R&D expenditure

Paytm CEO meets Union FM Sitharaman, discusses ongoing challenges: Report

The company, earlier said that it filed a specific clarification on Sunday, categorically denying any investigation by the Enforcement Directorate on OCL, our associates, and our management

India's Interim Budget represents responsible fiscal management: USISPF

Commending Finance Minister Nirmala Sitharaman for her consistency and focus on growth in her interim Budget, a US-based India-centric business advocacy group has said that it represents a welcome statement of responsible fiscal management in an election year. The US-India Strategic and Partnership Forum (USISPF) also commend the government's continued focus on the trinity of infrastructure, inclusive growth, and fiscal prudence in line with growing US-India commercial ties. The interim Budget was presented on February 1 by Sitharaman. As an interim, pre-election budget with no major policy pronouncements, it represents a welcome statement of responsible fiscal management in an election year, the USISPF said in a statement. General elections are expected to be held in India between April and May. According to budget projections, the fiscal deficit for the upcoming financial year (2025) will narrow to 5.1 per cent and GDP growth will remain between 6-7 per cent GDP. On the expendi

LS to discuss Interim Budget; FM Sitharaman to move Finance Bill 2024

Union Finance Minister Nirmala Sitharaman is scheduled to move The Finance Bill, 2024 for its consideration and passage in the Lok Sabha on Tuesday

Claims Centre not releasing funds 'politically-vitiated narrative': FM

Union Finance Minister Nirmala Sitharaman on Monday came down heavily on allegations that the Centre is withholding funds meant for non-BJP governed states, saying it is a "politically-vitiated narrative" that "vested interests" are happy to go about saying. Replying to a question by Congress leader Adhir Ranjan Chowdhury in the Lok Sabha on the Karnataka government's claim that the Centre is not releasing funds due to it, Sitharaman said such a situation cannot happen as the "system is well placed" and the central government works according to recommendations of the Finance Commission. "This apprehension that some states are being discriminated against is a politically-vitiated narrative which, I am sorry to say, vested interests are happy to go about saying," she said during Question Hour. Sitharaman added that no Union finance minister can play with the Finance Commission's recommendations. "This is just not a possibility that any finance minister can intervene to say that 'I do

Best of BS Opinion: Bilateral agreements, Dealing with Uncle Sam & more

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Interim Budget: Govt allocates Rs 1.18 trillion for Jammu and Kashmir

Finance Minister Nirmala Sitharaman on Monday proposed an interim Budget of Rs 1.18 lakh crore for fiscal 2024-25 for the Union Territory of Jammu & Kashmir. The interim Budget envisages a fiscal deficit of Rs 20,760 crore and a 7.5 per cent growth in gross state domestic product (GSDP). The capital expenditure for the fiscal has been proposed at Rs 38,566 crore, which is 14.64 per cent of the GSDP, as per the interim Budget tabled by Sitharaman in Parliament. The revenue receipts for the next fiscal stood at Rs 97,861 crore. According to Sitharaman, the crucial reforms undertaken in 2019 enabled "path-breaking" measures by the Union Territory Government to decentralise governance structure, promote inclusive development, upscale revenue generation and step up infrastructure development. "The Government is maintaining law and order to ensure security while simultaneously implementing initiatives for economic and social development. The Government has adopted a policy of zero ...

Various measures taken to reduce debt burden, strengthen economy: FM

To bring down the debt burden, the government has taken various measures like increasing the tax revenue buoyancy, enhancing the public expenditure effectiveness, commitment to reducing fiscal deficit and augmenting the productive efficiency, Finance Minister Nirmala Sitharaman said on Monday. In addition to strengthening the financial system, the government has more than doubled its effective capital expenditure from Rs 6.57 lakh crore in 2020-21 to Rs 13.71 lakh crore and Rs 14.97 lakh crore in 2023-24 (BE) and 2024-25 (BE), respectively, to crowd in private investments, she said in the Lok Sabha. The government's emphasis on increasing capital expenditure will not only boost the investments, but also return a higher GDP growth to lower the debt burden, she said. Simultaneously, she said, the state governments have been incentivised to increase their capital spending through measures like 50-year interest-free capex loans and front-loading of tax devolution instalments. Various .