Page 77 - Nirmala Sitharaman

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

21,791 fake GST registrations, tax evasion of Rs 24,000 cr detected: FM

Finance Minister Nirmala Sitharaman on Tuesday said GST officers have detected 21,791 fake GST registrations and over Rs 24,000 crore of suspected tax evasion during a two-month-long special drive. In a written reply to a question in Rajya Sabha, the minister said to safeguard the interest of honest taxpayers and avoid extreme hardship to taxpayers, instructions have been issued from time to time, directing officers to exercise due caution and care in the exercise of powers such as summons, provisional attachment of property, blocking of tax credit etc. "A total of 21,791 entities (11,392 entities pertaining to state tax jurisdiction and 10,399 entities pertaining to CBIC jurisdiction) having GST registration were discovered to be non-existent. An amount of Rs 24,010 crore (state - Rs 8,805 crore + Centre - Rs 15,205 crore) of suspected tax evasion was detected during the special drive," Sitharaman said. The minister was replying to a question on the number of entities identified as

PSBs given Rs 15,000 crore on ED action, says FM Nirmala Sitharaman

Finance minister said that over last two financial years, the number of non-performing asset accounts in the commercial banks have declined from 2.19 cr to 2.06 cr, showing decrease of 6 per cent

PSBs get back Rs 15,183 cr following ED action under PMLA: Sitharaman

The Enforcement Directorate (ED) has confiscated assets worth Rs 15,186.64 crore under the stringent prevention of money laundering law and almost all of these have been restituted to public sector banks, Finance Minister Nirmala Sitharaman informed the Rajya Sabha on Tuesday. Replying to supplementary questions in the Rajya Sabha, the minister said specific actions through various legal provisions are being taken against defaulters and as a result, "huge monies" are going back to the banks. Sitharaman informed the House that as of March 31, 2023, legal suits were filed for recovery against 13,978 loan accounts, action under the SARFAESI Act has been initiated in 11,483 cases, FIRs have been filed in 5,674 cases, and an aggregate amount of Rs 33,801 crore has been recovered. "As of December 1, 2023, assets amounting to Rs 15,186.64 crores under the PMLA have been confiscated by the ED out of which Rs 15,183.77 crores have been restituted to the Public Sector Banks," she said. Chair

Avg monthly GST mop-up at Rs 1.66 trn so far this fiscal: FM Sitharaman

The GST collection has been showing an upward trend on an annual basis since its rollout on July 1, 2017, and the average gross monthly mop-up in the current fiscal so far is Rs 1.66 lakh crore, Finance Minister Nirmala Sitharaman said on Monday. In a written reply to a question in the Lok Sabha, she said the GST collection crossed Rs 1.50 lakh crore mark in every month of the current fiscal and had touched a record high of Rs 1.87 lakh crore in April 2023. "GST collection has been showing an upward trend on year-on-year basis since the implementation of GST w.e.f. 1st July, 2017... The average gross monthly GST collection in FY 2023-24 now stands at Rs 1.66 lakh crore and is 11 per cent more than that in the same period in the previous financial year," Sitharaman said. The average monthly Goods and Services Tax (GST) collection in 2022-23 was over Rs 1.50 lakh crore, higher than Rs 1.23 lakh crore in 2021-22. In 2020-21, the average monthly mop-up was Rs 94,734 crore. In reply to

Nothing pending: Sitharaman rejects Karnataka govt charges on fund dues

Union Finance Minister Nirmala Sithraman on Thursday said there is "nothing pending" from the Central government to Karnataka and the National Disaster Response Fund (NDRF) for the drought relief to the state, which is due, will be decided once the high-power committee decides. Speaking to reporters here, she said because Prime Minister Narendra Modi has been Chief Minister of a state for more than 10 years, he knows what it is for states to get their money in time. "The state government can throw the allegations. He can send me the letter and much before the letter reaches me he can put it in social media, the minister or the chief minister. And I say not just this in Bengaluru, I've even, two days ago, when I was in Kerala, I said that," Sitharaman said in response to a question on Congress government here alleging delay in release of Central funds to Karnataka. "There is nothing pending from our side for Karnataka, I'm a MP from the state, I have a responsibility also. There's ..

Sitharaman demands concrete action on climate funding, not words at COP 28

Finance Minister Nirmala Sitharaman on Monday called for concrete action on climate funding and transfer of technology at the upcoming global climate summit, saying that India will be pushing forward to showcase what it has achieved with its own funds. The 28th round of the annual UN climate talks to be held from Nov 03 to December 12 in the UAE and is anticipated to involve intense negotiations on compensation from rich countries to developing ones for climate impacts, fossil fuel usage, methane emissions, and financial aid for reducing planet-warming emissions and adapting to climate change. Speaking during a virtual session at the inaugural event of India Global Forum Middle East and Africa 2023 (IGF ME&A), Sitharaman said that cOP 28 should show the direction to countries. "There is a need for concrete action on climate funding and transfer of technology at the upcoming global climate summit," she said. She said that India will certainly be pushing forward to showcase what it .

Investors need not be jittery; Modi coming back with majority: Sitharaman

Finance Minister Nirmala Sitharaman on Monday said that Prime Minister Narendra Modi will come back to power in 2024 with a "good majority" and global investors need not be "jittery". She also said the government is committed to systemic reforms to accelerate the pace of growth. Participating in a debate virtually organised by India Global Forum, she said, investors "need not be jittery at all" about the outcome of general elections due in April-May 2024. "...keeping their (investors) fingers crossed is normal and I can understand that. But here I am and also there are several people who are observing the Indian economy, observing the political environment, observing the ground level realities and the situation as it prevails today, Prime Minister Modi is coming back and coming back with a good majority," she emphasised. The government led by Prime Minister Narendra Modi has taken various initiatives that have transformed the life of every Indian and the business environment has ..

Sitharaman trying to mislead Kerala people on funds disbursement: CM

Kerala Chief Minister Pinarayi Vijayan on Sunday accused Union Finance Minister Nirmala Sitharaman of trying to mislead the public through her claims of timely disbursement of required funds to the southern state by the Centre. Sitharaman, a day ago, had dismissed allegations by Kerala's Left government of negligence in fund allocation and claimed that the Central government promptly sends the required funds to the people of the southern state without any delay. She had also blamed the state government for non-release of funds under various categories by the Centre, alleging that it was due to the Left administration's failure to meet the necessary criteria. Refuting the claims and allegations of the Union minister, Vijayan contended that requirements of the southern state were brought to Sithraman's attention several times through written requests from state Finance Minister K N Balagopal. Balagopal had also met the Union minister personally to highlight the state's financial ...

FM Sitharaman dismisses Kerala govt's fund allocation 'negligence' charge

Union Finance Minister Nirmala Sitharaman on Saturday dismissed allegations by Kerala's Left government of negligence in fund allocation and claimed that the Central government promptly sends the required funds to the people of the southern state without any delay. Responding to the Left government's allegations of not releasing funds under various categories, she pointed fingers at the state government, alleging that it was due to the state's failure to meet the necessary criteria. Criticising the ruling CPI(M)-led alliance, which has announced a protest in New Delhi in January against the alleged neglect by the Central government, the finance minister claimed that the highest amount of Finance Commission Grants has been released to Kerala from 2009-10 to 2023-24 under the leadership of Prime Minister Narendra Modi. "Under the National Social Assistance Programme (NSAP), all the pending liabilities and the first tranche of 2023-24, covering senior citizen pensions, amounting to Rs

DMK regime retrieved temple properties worth Rs 5,500 cr: Stalin flays FM

Targeting Union Minister Nirmala Sitharaman, Chief Minister and DMK President M K Stalin on Friday said true devotees will laud the DMK regime but not the deceitful who attempt to hoodwink the people. Stalin, referring to the DMK youth wing conference slated to be held in Salem next month, said some people, unable to tolerate the party's growth were trying to confuse the people through disinformation campaign in the social media. In his address at a function here, the DMK chief said he will not be concerned even if BJP state unit chief K Annamalai was to confuse people. However, Union Finance Minister Nirmala Sitharaman has alleged in an interview that "we are looting temples." Under the DMK regime, Rs 5,500 crore worth properties belonging to temples have been retrieved. "If they really have devotion, they should laud the DMK regime," he said. However, they do not have devotion and only try to hoodwink people through their deceitfulness. A senior, retired police officer has made

Rein in enthusiasm to lend: FM Sitharaman to NBFCs, small finance banks

RBI Governor Shaktikanta Das on Wednesday said the central bank's tougher stance on unsecured loans is a "preemptive" move aimed at ensuring financial stability