Page 75 - Nirmala Sitharaman

Women's reservation bill to come into force after 2024 census: Sitharaman

The Centre will initiate steps to enforce the women's reservation bill after the 2024 census, Union Finance Minister Nirmala Sitharaman has said. Speaking after releasing a commemorative postal stamp in the name of Rani Abbakka at Moodbidri in Dakshina Kannada district on Friday, Sitharaman said the women's bill became a reality as Prime Minister Narendra Modi has always believed in the role of women in nation building. Lauding the courage and heroics of Rani Abbakka, the 16th century queen of Ullal who fought against the Portugese, Sitharaman said the Union government has taken steps to document the contributions of many unknown fighters who fought against imperial forces. As part of Aazadi Ka Amrit Mahotsav, the government has compiled a digital district repository with 14,500 stories, highlighting places linked with the freedom struggle, she said. The Union Ministry of Culture has also tied up with Amar Chitra Katha to bring out three books on the role of women in freedom ...

New bills to replace law on customs, excise, age limits of GSTAT members

The other Bill - The Central Goods and Services Tax (Second Amendment) Bill, 2023 - seeks to raise the age limit for president and members of the GSTAT

Budget 2024: Budget preparation, its purpose, halwa ceremony, presentation

Union Budget 2024: Preparing the Budget is a long-drawn process which involves multiple steps and consultations. Read on to find out how it is done

FM introduces GST bill to raise age limit of president appellate tribunals

Finance Minister Nirmala Sitharaman on Wednesday introduced a bill in the Lok Sabha to raise the age limit for president and members of GST appellate tribunals. The Central Goods and Services Tax (Second Amendment) Bill, 2023, seeks to cap the age for president and members of the GST appellate tribunals (GSTAT) at 70 years and 67 years, respectively, higher than 67 years and 65 years specified earlier. An advocate with 10 years of 'substantial experience' in litigation in matters relating to indirect taxes in the Appellate Tribunal, would be eligible to be appointed as a judicial member of the GSTAT. As per the amendment, president and the judicial and technical members of the GSTAT shall hold office for four years, or until he attains the age of 70 years and 67 years, respectively, whichever is earlier. The rules notified by the government earlier had fixed the age limit for the president and members of GSTAT at 67 years and 65 years, respectively. The GST Council chaired by ...

Budget Speech: All you need to know about the FM's address to Parliament

Here is everything you need to know about what a Budget speech ahead of the Union Budget 2024, the different parts it has, Budget at a Glance, Finance Bill, and more

No GST dues pending, some states have not submitted AG's report: Sitharaman

The Centre on Tuesday said no GST dues of any state are pending before it and that some state governments have not submitted AG's authenticated certificate for release of their share of funds. The narrative that GST dues are pending from the Centre is not correct and is a "misnomer" as states have not submitted AG's report, Union Finance Minister Nirmala Sitharaman said replying to a supplementary question in Rajya Sabha. "It is important to understand that if the AG's (accountant general) certification is (mandatory)... If the AG's certificate does not reach us, we can not clear," she said. Some states, even after sending AG's certificate, tell us to hold on till they clear it finally, she said. The finance minister was responding to a question from Trinamool Congress member Saket Gokhale, who asked about the GST dues of states, especially to West Bengal. He also sought a reason for which the GST dues of the states were withheld. Replying to it, the finance minister said she wou

Fiscal prudence is govt's top priority, says FM Nirmala Sitharaman

The Lok Sabha approved the additional gross spending of Rs 1.29 trillion, which includes net cash outgo of Rs 58,378 crore

Winter Session: Sitharaman hits back on Oppn's charge on MGNREGA fund delay

Finance Minister Nirmala Sitahraman on Tuesday in the Lok Sabha said the economy is moving in the right direction, and India has become the fastest-growing major economy in the world. Replying to a debate on Supplementary Demands for Grants, Finance Minister Sitharaman said fiscal prudence is the top priority of the government without compromising on social welfare. The House later approved the Supplementary Demands for Grants, allowing the government to spend an additional over Rs 1.29 lakh crore, of which Rs 58,378 crore would be the cash outgo in the current fiscal. The remaining Rs 70,968 crore will be matched by the savings and receipts. "Our economy is moving in the right direction...Macroeconomic fundamentals are fine. We have become the fastest-growing economy. Q2 growth of 7.6 per cent is the highest in the world," she said. Responding to issues raised by the Opposition members on BSNL, the minister further said the government has earmarked Rs 11,850 crore capital infusio

LS gives nod for additional cash outgo of Rs 58,378 cr in current fiscal

The Lok Sabha on Tuesday cleared a net additional spending of Rs 58,378 crore in the current fiscal ending March 2024, with a large chunk going towards MGNREGA and subsidy on fertiliser. The gross additional spending sought by the government was over Rs 1.29 lakh crore, of which Rs 70,968 crore would be matched by savings and receipts. Replying to a debate on Supplementary Demands for Grants, Finance Minister Nirmala Sitharaman said that fiscal prudence is the top priority of the government without compromising on social welfare. She also said that the net additional spending by the government would be Rs 58,378.21 crore in the current fiscal. The additional expenditure includes Rs 13,351 crore towards fertiliser subsidy and about Rs 7,000 crore towards spending by the Department of Food and Public Distribution. The House also approved an additional outgo of Rs 9,200 crore spending by the Ministry of Petroleum and Natural Gas and Rs 14,524 crore by the Ministry of Rural Developmen

Inflation now stable, temporary rises due to demand-supply mismatches: FM

Finance Minister Nirmala Sitharaman on Monday said retail inflation is now "stable" and temporary increases in inflation on a few occasions are caused by demand-supply mismatches arising out of global shocks and adverse weather conditions. In a written reply to the Lok Sabha, Sitharaman said India's retail inflation has declined from an average of 7.1 per cent in April-October 2022 to 5.4 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. A steady decline in core inflation, estimated after removing volatile food and fuel items from retail inflation, has been critical in weakening the inflationary pressure in the Indian economy," she said. The core inflation rate has declined from 5.1 per cent in April 2023 to 4.3 per cent in October 2023. The minister said retail inflation in India has been mostly within acceptable limits after the notification of the inflation tolerance band in ...

PM talking up transformative GDP but what matters is growth rates: Congress

The Congress on Sunday said Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman are "repeatedly talking up" transformative GDP growth based on the recent July-September numbers but what matters more is annual growth rates over a longer period. Annual average GDP growth rate during the UPA government was 8.1 per cent against 5.4 per cent under the current dispensation, it further said. The Congress' attack comes after Modi said last week that the GDP growth figure for the second quarter of this fiscal displayed the resilience and strength of the Indian economy amid testing times globally. In a post on X, Congress General Secretary Jairam Ramesh said, "The PM and the FM are repeatedly talking up the 'transformative GDP growth in India' based on the recent numbers for July-September 2023." "But if you leave aside quarterly growth numbers, which could be high or low for a number of reasons. What matters a lot more -- to understand how well the economy is doing -- is ..

We've never been hesitant: Sitharaman on debating country's economy

Addressing concerns raised by the Congress member, Sitharaman articulated the government's position with regard to holding parliamentary debates on economic matters

Winter session: Sitharaman tears into Opposition's job-less growth claims

Finance Minister Nirmala Sitharaman on Thursday slammed Congress for launching 'Naam-ke-Vaste' schemes as she enumerated how meticulous implementation of the same new avataar under Modi government reached benefits to the needy and helped catapult India as the fastest-growing major economy. Replying to a discussion on the state of economy in the Rajya Sabha, she called out former finance minister P Chidambaram for "whimsical calculations" to show job-less growth, saying under Modi government working population ratio has increased, schemes like Mudra loan created self-employment, and 13.5 crore lifted out of "multidimensional poverty". Dismissing the North-South divide theory, she said profits and the resulting taxes by big companies in states like Tamil Nadu were a result of sales they make all over the country and not just the state where they are registered. And so it was wrong to say they contribute more to the taxes but get a lesser share than states in the North which do not have

India's Q2 growth rate highest in world; fundamentals strong: FM Sitharaman

The finance minister also informed the Rajya Sabha that the manufacturing sector in India had registered its highest growth of 13.9 per cent in Q2FY24

No 'spectacular announcement' likely in Feb 1 Budget, says finance minister

Finance Minister Nirmala Sitharaman on Thursday said the budget to be presented on February 1, 2024 would not have any "spectacular announcement" as it would be a vote on account in run up to the general elections. "It is a matter of truth that February 1, 2024 budget that will be announced will just be a vote on account because we will be in an election mode. So the budget that the government presents will just be to meet the expenditure of the government till a new government comes to play," she said. Speaking at the CII Global Economic Policy Forum, Sitharaman said the country would be preparing for the Lok Sabha elections which are due in the summer of 2024. Hence the February 1 budget, following the British tradition, is called vote on account. "No spectacular announcements come in that time (in vote on account). So you will have to wait till after new government comes in and presents next full Budget in July 2024," Sitharaman said. On February 1, 2024, Sitharaman will presen

Levying border adjustment tax to meet green commitments morally wrong: FM

Finance Minister Nirmala Sitharaman on Thursday said any move on imposition of cross-border adjustment tax by developed countries to meet their green commitments is morally wrong and goes against the interest of developing countries of 'Global South'. "The single mono-sided decision of imposition of border adjustment tax ...the logic just goes against the concern of the Global South... "But cross-border imposition (of tax) and that money going towards somebody else's green agenda, if anything, is not moral at all," Sitharaman said at the CII Global Economic Policy Forum. The minister said every country will need to generate resources to meet the green commitments made globally. Her comments come in the backdrop of the European Union's announcement to impose carbon tax on imports from certain sectors. The CBAM (Carbon Border Adjustment Mechanism) or carbon tax (a kind of import duty) will come into effect from January 1, 2026, but from October 1 this year, domestic companies from s

LIVE: 50,000 to stage protest in Delhi to demand hike in minimum pension

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Despite subsidies, Budget maths sticks as Sitharaman enters home stretch

A crucial decision government has to take is whether to stick to the FY23 expenditure level or top it this year

RS to continue discussion on country's economy on Day 3 of Winter Session

Union Finance Minister Nirmala Sitharaman is likely to table a statement showing the Supplementary Demands for Grants, 2023-24, sources said

FM Nirmala Sitharaman ranked 32 on Forbes' 2023 list of powerful women

Forbes recognises Finance Minister Nirmala Sitharaman for her contributions to Indian politics and policy