Page 7 - Nirmala Sitharaman

Exporters, industry bodies knock on RBI's door for US tariff buffer

Exporters and industry bodies sought RBI relief including moratoriums, relaxed NPA norms, and REER settlements to counter the impact of 50 per cent tariffs by the US

GST revamp to set off demand, investment, job cycle: FM Nirmala Sitharaman

Sitharaman says the govt will shift focus to speed up disinvestment

GST reforms: Taxation can't be an emotional decision, says FM Sitharaman

Days after the big-bang GST reform announcement, FM Nirmala Sitharaman, at her North Block office on Saturday, spoke at length on a range of issues in an hourlong interaction with Business Standard

Separatist mindset dominates DMK's Dravidian model of politics, says FM

Finance Minister Nirmala Sitharaman has said that the ruling DMK in Tamil Nadu is raising emotive issues around language and Dravidian identity to target the BJP as it has no answers to allegations of corruption and caste-crimes plaguing its government. She asserted that there can be "no bigger bogus argument" than that her party is against Dravidian interests. Speaking to PTI, Sitharaman was scathing in her condemnation of the DMK government in the state, citing corruption allegations against ministers, incidents of crimes against women, caste-violence, especially against Dalits, and the "rise" in drug abuse, and said the party has no answers to these charges. "Their (DMK) time is spent on not looking at these incidents but bringing separatist logic. They allege their tax money is going to Bihar. Is Bihar in Pakistan? People from Bihar can work in your factories. You can make your profit. But you want to keep your tax money to yourself. Separatist mindset dominates the so-called ..

Govt keeping 'good watch' on rupee as several currencies fall, says FM

Finance Minister Nirmala Sitharaman has said that the government is keeping a 'good watch' on exchange rates, stressing that besides rupee several other currencies have depreciated against the US dollar. "The rupee slide is largely against the dollar, not against any other currencies. That's also because of the way globally, the dollar has strengthened," she said when asked if the slide of rupee against greenback is a concern. "This is not the case only with rupee versus dollar, it's the case with many other currencies versus the dollar. So we are keeping a good watch on this," she told PTI in an interview. The rupee plummeted to a record low and closed at 88.27 against dollar after touching an intra-day low of 88.38 on Friday. The fall came amid concerns over US tariffs, while intervention by the Reserve Bank of India through state-run banks helped limit further losses. The steep tariff of 50 per cent imposed by the US on Indian goods took effect on August 27. The tariffs - among

Spurt in consumption to meet fiscal deficit target of 4.4%: Sitharaman

Finance Minister Nirmala Sitharaman has expressed confidence that revenue buoyancy driven by spurt in consumption will take care of the estimated GST shortfall of Rs 48,000 crore following reduction in tax rates on a host of items, and hence there will be no impact on public finances but definitely bolster GDP growth. She also emphasised that consumption boost to be provided by landmark GST reform and better-than-expected first quarter GDP growth number may help in exceeding the projected pace of 6.3-6.8 per cent for FY26. Asked about impact of GST rate cuts on fiscal deficit, Sitharaman said, Rs 48,000 crore financial implication is a static number based on a base year, but when it gets implemented, base situation changes. "So, I think the consumption spurt from September 22 will increase income buoyancy. To a large extent, this Rs 48,000 crore amount we will be able to make it up this year itself. So I don't see an impact on my fiscal deficit or my fiscal management. I will stick

PM Modi's nudge ushered in biggest GST reform in 8 years: Sitharaman

'Ek baar aap GST dekh lo!' - Prime Minister Narendra Modi's gentle nudge to Finance Minister Nirmala Sitharaman in December last year sparked the beginning of a mammoth exercise to overhaul the tangled goods and services tax regime. And the final outcome is a significantly simplified system with lower tax rates and easier compliance for businesses. Sitharaman, who, along with her team, began work to identify anomalies in the present four-tier structure and compliance issues faced by businesses, was once again reminded by the Prime Minister when she was preparing the Budget for the 2025-26 fiscal year. 'Aap GST ke upar kar rahi ho na kaam?' Modi had inquired. Her discussion with the Prime Minister led Sitharaman to begin work on reviewing everything in GST - not just rates and tax slabs but how to make the regime more friendly for businesses, particularly small and medium businesses. In an interview with PTI, Sitharaman recalled the parallel works that happened - from overhauling the

GST reforms to make life easier for both businesses, consumers: Sitharaman

Finance Minister Nirmala Sitharaman said GST reforms include faster refunds, easier registrations and lower tax rates on nearly 400 products, benefiting 140 crore people

Sitharaman thanks state FMs for support in implementing GST overhaul

Finance Minister Nirmala Sitharaman hailed the GST Council's unanimous decision to cut tax rates, thanking state finance ministers for prioritising public relief over revenue concerns

Centre may introduce Bill in winter session to replace tobacco GST cess

New levy could follow full repayment of GST compensation loans, keeping overall tax incidence on tobacco products high

'Divide and rule principle': Sitharaman slams justifying Navarro's remark

Finance Minister Nirmala Sitharaman criticised attempts to justify US trade adviser Peter Navarro's "Brahmins profiteering" remark, calling it a colonial divide-and-rule tactic

India will continue to buy Russian oil as required, says FM Sitharaman

Finance Minister Nirmala Sitharaman said India will keep buying Russian oil, stressing that the country's energy decisions are guided by national interest and citizens' needs

GST rate rejig above expectation, stocks price in most positives: Analysts

The breadth and depth of the new rate cuts, analysts at Bernstein said, especially in the fast-moving consumer goods (FMCG) categories saw rate reductions well beyond what they thought was possible

GST 2.0 impact: Small cars, tractors to get cheaper ahead of festive sales

Aiming to provide relief to the common man, the government has sharply cut the GST levied on small cars to make them more affordable

GST rate cut may ease CPI inflation by 25bps; 40bps dent on fiscal deficit

Here's how analysts leading brokerages assess the impact of the GST rate rejig on the Indian economy, bond markets and the possibility of an aggressive interest rate cut by the Reserve Bank of India

Popcorn finally pops into one GST slab: Now 5% across the board

The GST Council has moved all popcorn varieties-salted, packaged, caramel-into the 5% slab, effective September 22, simplifying tax rules and cutting prices for consumers

GST revamp may trim revenue but fiscal impact limited, says BofA Securities

GST Council approves two-slab system from September 22; BofA Securities says impact on GDP and government finances will be small, while consumption may get a boost

GST on lifesaving drugs reduced to nil: Check full list of tax on medicines

GST Council meet outcome: GST on various medical apparatus and devices used for medical, surgical, dental or veterinary usage has been reduced to 5% from 12%

Farm machinery, tractors, fertilisers now attract 5% GST: Check full list

GST Council meet: GST on farm machinery, tractors, fertilisers and other agri items cut to 5 per cent from higher rates, giving relief to farmers

GST Council clears 2-slab system: Full list of items under 5% and nil rates

Under the two-slab system, the GST Council has scrapping 12 per cent and 28 per cent rates. Now, essential items like food, medicines, and books fall under zero and 5 per cent rates