Page 66 - Nirmala Sitharaman

FM Sitharaman to review state of economy at FSDC meeting on February 21

Finance Minister Nirmala Sitharaman is scheduled to review the state of the economy amid global challenges at a meeting of the Financial Stability and Development Council (FSDC) on February 21. The 28th meeting of the high-level panel to be held here will be attended by all financial sector regulators, including RBI Governor Shaktikanta Das, sources said. This would be the first meeting of the FSDC after the passage of the Rs 47.6 lakh crore Budget for 2024-25, focussing on capital expenditure with an outlay of Rs 11.11 lakh crore. In the meeting, the Finance Minister will review the current global and domestic economic situation and financial stability issues. Sitharaman is likely to stress key priorities highlighted in the interim Budget, the way forward for various future policies and measures that the government has proposed to take in many sectors, sources said. Besides, the council may also review the progress of measures approved earlier for further development of the finan

FM Nirmala Sitharaman addresses Reserve Bank of India board of directors

The Board also reviewed the global and domestic economic situation and outlook, including the challenges posed by geopolitical developments and global financial market volatility

Qualitative improvement

Higher capex will improve growth prospects

Congress mastered art of spoiling accomplishments: FM Sitharaman in RS

Finance Minister Nirmala Sitharaman on Saturday took a dig at the Congress saying the grand old party mastered the art of ruining accomplishments of the previous government as they did while managing inflation during the 10-year UPA regime. Replying to a short duration discussion on 'White Paper on Indian Economy' in the Rajya Sabha, she said there was mismanagement of the economy during 2004-2014 by the Congress-led UPA government. She said the Modi-led government toiled for 10 years to bring the economy back on track, taking India from 'Fragile Five' to 5th largest economy of the world. She said that India is soon going to become the world's third largest economy. Sitharaman said the inflation rate was below 4 per cent in the last year of Atal Bihari Vajpayee government, but it remained significantly high during the 10-year UPA regime. "Gur ko gobar karna inki mastery hai (Congress has mastery of ruining something that has been accomplished)," she said. The finance minister atta

Central govt is nervous, says Congress' Manish Tewari on 'White Paper'

Congress MP Manish Tewari referred to the 'White Paper ' presented on the Indian economy in Parliament by Centre as "nervousness", which he claimed was evident in the Union Finance Minister's response

White Paper record for posterity, a serious document: FM Sitharaman

She said the NDA government has the power and vision, which was lacking during the UPA's term

National security compromised, leadership failed in 10 years of UPA: FM

Finance Minister Nirmala Sitharaman on Friday said national security was compromised, environmental clearances delayed and leadership failed during the previous Congress-led UPA government. Replying to a debate in Lok Sabha on the White Paper on India's economy and its impact on the lives of people, Sitharaman said the UPA government indulged in "glaring mismanagement" of the defence sector and its highlight was the Rs 3,600 crore AgustaWestland scam. "Critical shortage of ammunition & defence equipment was the main feature of 2014 when we inherited the economy. Bullet proof jackets were not available for our soldiers. Night vision goggles were not available," Sitharaman said. She said 'Jayanti Tax' during the UPA tenure delayed environment clearances for projects up to a year. The average time to clear projects increased to 316 days from 86 days between 2011 and 2014. She said 10 years of dedicated efforts of the Modi government have put the economy back on rails. "We correcte

UPA put 'family first', left India in 'dire straits' in 2014: FM Sitharaman

Finance Minister Nirmala Sitharaman on Friday lambasted the previous Congress-led UPA government for its mismanagement of the economy saying the party put "family first" and left the country in "dire straits" in 2014, but it is now lecturing the Modi government on handling the economy. Initiating the debate on the 'White Paper on Indian economy and its impact on the lives of people of India' in the Lok Sabha, Sitharaman said the Modi government put "nation-first", and took the economy from 'fragile five' to 'top five'. India is now on the way to become the third largest global economy, she said. Amid constant bickering by the Congress members, Sitharaman said the White Paper is for record of posterity and the youth should know what efforts Prime Minister Narendra Modi has put in to restore India's past glory. "Ten years of one government with some crisis and 10 years of a different government with a different crisis. The comparison shown in this 'White Paper' clearly says how if th

2008 global financial crisis wasn't as serious as Covid-19: FM Sitharaman

A nearly 60-page White Paper was tabled in the Lok Sabha and Rajya Sabha by Sitharaman on Thursday

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