Page 79 - Nirmala Sitharaman

GST Council meet on Oct 7, may review SGST amendments on online gaming

The GST Council, chaired by Union finance minister and comprising state ministers, will meet on October 7. "The 52nd meeting of the GST Council will be held on 7th October, 2023 at Vigyan Bhawan , New Delhi," the GST Council said in a post on X. In the previous meeting on August 2, the council had approved amendments to the Goods and Services Tax (GST) laws to provide clarity on the taxation of casinos, horse racing and online gaming. A 28 per Cent GST is levied on full face value of bets in the three supplies.

Learn local language to serve better: FM Sitharaman at Rozgar Mela

Candidates getting selected for jobs and deployed in other states as per the job profile should learn the local language to be able to provide better services, Union Finance and Corporate Affairs Minister Nirmala Sitharaman said here on Tuesday. Sitharaman, after handing over orders to successful candidates at the Rozgar Mela, encouraged more candidates to apply for jobs in public sector undertakings located in Tamil Nadu. Referring to the Centre's Rozgar Mela, Sitharaman said the government has been holding it since October 2022 and about 10 lakh people have received job offers so far. "Today 51,000 appointment orders are being given across the country by Prime Minister (Narendra Modi) virtually. I was told 553 people are getting job offers from Tamil Nadu," she said. Speaking of improving the delivery of services to be rendered by the candidates post their selection at a public sector undertaking or bank, Sitharaman said, "If a job offer is given to a candidate who will be servin

Finance Minister Sitharaman meets G20 expert group on strengthening of MDBs

Finance Minister Nirmala Sitharaman on Saturday met the G20 Independent Expert Group on strengthening of Multilateral Development Banks (MDBs). The G20 Independent Expert Group (IEG) is co-convened by former American treasury secretary Lawrence Summers and ex-chairman of the 15th Finance Commission N K Singh. The IEG set up by G20 India Presidency has focused on strengthening MDBs and delivered Volume 1 of its report which was acknowledged by G20 leaders in New Delhi Leaders Declaration earlier this month. "The #G20IEG members are currently in India working on Volume 2 of their report to be discussed in #G20 meetings scheduled to be held under the Indian Presidency in #Marrakech on sidelines of @IMFNews @WorldBank #AnnualMeetings," the finance ministry said in a post on X. The fourth and final Finance Ministers and Central Bank Governors (FMCBG) Meeting under India's G20 Presidency is taking place next month in Morocco. MDBs need to provide an additional USD 260 billion annually t

Chandrayaan-3 success will have big impact on industry ecosystem: FM

While speaking in the Rajya Sabha, the Union Minister briefed the House about the Chandrayaan-3 mission of the Indian Space Research Organisation

TMS Ep523: Car airbags, Nirmala Sitharaman, Zomato stock, Google antitrust

Has cost trumped safety for car airbags? What are three key takeaways from FM's interview with BS? Time to add Zomato stock to your portfolio? What's the US vs Google antitrust trial? Answers here

Speed up digitisation to ensure better services in rural areas: FM to RRBs

Finance Minister Nirmala Sitharaman on Tuesday expressed concern over the slow progress of computerisation in Regional Rural Banks (RRBs) and urged them to speed up the process to strengthen credit delivery in rural areas. There is still a lot of work to do in digitising RRBs and cooperative banks, she said after launching the 'Kisan Rin Portal' and Weather Information Network Data Systems (WINDS) manual here. Cooperative banks are not equally endowed, and their financial health varies, she said, adding ramping up capacity in the sector is taking place under the Ministry of Cooperation headed by Home Minister Amit Shah. The cooperative bank digitisation would happen with the necessary speed, she said. However, she said, "I am more concerned about RRBs, their digitisation and computerisation. Therefore, if they didn't have it, extending phone bank facility...or internet banking facility...won't work out". A lot of work is still pending, and the Department of Financial Services is .

EU's carbon tax seeks to doubly punish India: FM Nirmala Sitharaman

The finance minister said the EU has to consider India's concerns, and other countries will not view them kindly

Govt to provide up to 8% interest subsidy for Vishwakarma Yojana: FM

Finance Minister Nirmala Sitharaman said the government will offer up to 8 per cent subsidy for loans given to artisans under the Vishwakarma Yojana launched by Prime Minister Narendra Modi on Sunday. The government has already made a provision of Rs 13,000 crore in the Budget 2023-24, she said during the launch event of the Yojana. Sharing the details of Vishwakarma Yojana, the finance minister said collateral-free loans to artisans would be provided at a very affordable interest rate of 5 per cent. The scheme covers 18 activities including carpenter, goldsmith, blacksmith, mason, stone sculpture, barber and boatmakers, she said, adding, the government will provide up to Rs 3 lakh loan. Initially, she said, Rs 1 lakh loan will be given and the beneficiary would be eligible for an additional Rs 2 lakh after repayment schedule of 18 months. The components of the scheme will include not only financial support but also access to advanced skill training, knowledge of modern digital ..

Auditors should embrace technology, contribute to nation building: FM

Observing that the next 25 years are 'critical' for India to achieve developed nation status, Union Minister Nirmala Sitharaman on Saturday appealed to auditors to embrace technology and educate smaller companies to grow. The Finance and Corporate Affairs Minister remarked that the country has progressed at many levels in the last 20-25 years and even the World Bank report has said India has achieved in the last decade what it could not be achieved in 60 years. "I am talking to veterans of this profession. You are one of the oldest registered bodies. I would think my meeting with you all is not just only to celebrate the 90 years, but also to say celebrating at a time when this profession has to take newer responsibilities," she said at the 90th-anniversary celebrations of The Society of Auditors here. Sitharaman pointed out that the practices of chartered accountants were going through a lot of change, globally and said that even some of the audience gathered at the venue had alrea

Finance ministry defends GDP deflator and real GDP growth estimate

The finance ministry said India's GDP deflator is dominated by the Wholesale Price Index

Weekend Bites: FM's wish, 15 yrs since Lehman fell, Taper Tantrum, Apple

In which we munch over the week's platter of news and views

Around 22 nations exploring bilateral trade with India in rupee: Sitharaman

"Those countries are running short of dollar," Sitharaman said

We see signs of buoyancy in the economy, says FM Nirmala Sitharaman

Inflation a permanent challenge; won't sit back, says FM Nirmala Sitharaman

Top headlines: Sitharaman says no licence raj, sees buoyancy in economy

Business Standard brings you the top headlines at this hour

We are not going back to licence raj, says FM Nirmala Sitharaman

In an exclusive interview, Sitharaman says focus is on sunrise sectors, job creation

State-owned LIC presents dividend cheque of Rs 1,831 crore to FM Sitharaman

Life Insurance Corporation of India (LIC) on Thursday presented a dividend cheque of Rs 1,831.09 crore to Finance Minister Nirmala Sitharaman. LIC Chairman Siddhartha Mohanty presented the dividend cheque as the government's share of dividend in the presence of Department of Financial Services Additional Secretary MP Tangirala, the insurer said in a statement. The dividend was approved by the shareholders in the annual general meeting held on August 22, it said. LIC has completed 67 years since its incorporation and beginning with an initial capital of Rs 5 crore in 1956, LIC as of March 31, 2023, has an asset base of Rs 45.50 lakh crore with a life fund of Rs 40.81 lakh crore, it noted. Despite two decades of opening up of the insurance sector, LIC continues to be the market leader in the Indian life insurance market, the statement claimed.

Capex by large CPSEs touches 42.5% of budget target in April-August

NHAI and Railways drive robust growth in capex

From FTA to FinTech: Highlights from India-UK Economic Financial Dialogue

Union Finance Minister Nirmala Sitharaman and UK's Chancellor of the Exchequer Jeremy Hunt discuss collaborations in financial services, infrastructure, and trade

Govt may relook at allowing Indian companies to list overseas: FM

Under current regulations, Indian firms are not allowed to list directly on overseas exchanges. They can only list on foreign exchanges through instruments such as depository receipts

FM Sitharaman discusses capital adequacy framework with World Bank, ADB

Sitharaman and Banga stated that they look forward to Volume 2 of the report that will be submitted during the 4th FMCBG meeting in Morocco in October