Page 82 - Nirmala Sitharaman

FM Sitharaman to launch 'Mera Bill Mera Adhikar' scheme on Sep 1: Chautala

Union Finance Minister Nirmala Sitharaman will launch the Mera Bill-Mera Adhikar Scheme from Gurugram on September 1, Haryana's Deputy Chief Minister Dushyant Chautala said on Wednesday. She will launch this scheme in a programme to be organised in Sector 15 of Gurugram, the JJP leader said, as per an official statement. Chautala said that under this scheme, the consumers will have to upload the receipt of the purchase of the goods on a portal. He said that consumers will also get rewards through the corpus fund of Rs 30 crore, through a draw system. He said that this scheme will play an important role for GST collection as more and more people will be motivated to collect GST bills. Dushyant Chautala said that the Mera Bill-Mera Adhikar scheme will develop the tendency among consumers to demand the bill from the seller while purchasing goods. Notably, the Centre on Thursday said it will launch the 'Mera Bill Mera Adhikaar' initiative to encourage the culture of customers asking f

Nirmala Sitharaman asks RRBs to remove duplication of PMJDY accounts

Finance Minister Nirmala Sitharaman on Wednesday asked Regional Rural Banks to make efforts to remove duplication of Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts. During the review meeting with heads of RRBs, the finance minister emphasised the need to increase penetration under Pradhan Mantri MUDRA Yojana (PMMY) and financial inclusion and stated that a roadmap has to be prepared for completing the designated activities in a timebound manner. The minister urged the RRBs to remove duplication of PMJDY accounts and facilitate storage facility for apple growers particularly in J&K and Himachal Pradesh, an official statement said. During the review meeting of Regional Rural Banks of Northern Region here, the Finance Minister emphasised on digital capability upgradation of RRBs and instructed MD and CEO Punjab National Bank (PNB) to ensure that all RRBs by the bank to acquire digital onboarding capability by November 1, 2023. The Centre has 50 per cent stake in RRBs while sponsor ..

Inflation will remain steady in coming months, growth on track: FinMin

Food price inflation rose to 11.5% in July, its highest in more than 3-1/2 years, while India is set to receive its sparsest monsoon rains in eight years

Centre likely to infuse capital in certain regional rural banks in FY24

Union Finance Minister Nirmala Sitharaman will hold a meeting with chairpersons and senior officials of RRBs from the Northern region in New Delhi on Wednesday

Jan Dhan Yojana revolutionised financial inclusion in India: FM Sitharaman

Finance Minister Nirmala Sitharaman on Monday said Jan Dhan Yojana-led interventions and digital transformation have revolutionised financial inclusion in the country, as more than 50 crore people have been brought into the formal banking system with cumulative deposits surpassing Rs 2 lakh crore. On the ninth anniversary of the Pradhan Mantri Jan Dhan Yojana (PMJDY), which is one of the biggest financial inclusion initiatives in the world, Sitharaman in her message said 55.5 per cent bank accounts have been opened by women, and 67 per cent have been opened in rural/semi-urban areas. Under the scheme, the number of bank accounts grew 3.4-fold from 14.72 crore in March 2015, to 50.09 crore as on August 16, 2023. Total deposits too have swelled from Rs 15,670 crore as of March 2015, to over Rs 2.03 lakh crore as of August 2023. The average deposits in Jan Dhan accounts have increased 3.8 times from Rs 1,065 as of March 2015, to Rs 4,063 in August 2023. About 34 crore RuPay cards hav

B20 Summit India 2023: Taming inflation key to growth, says FM Sitharaman

Sitharaman says green shoots of private capex upcycle can be felt now

Sustaining economic recovery a challenge in coming years: Sitharaman at B20

The FM said using only interest rates to control inflation might have a downside, and supply-side issues also need to be managed

B20 Summit India: My priority is to tame inflation, says FM Sitharaman

Finance Minister Nirmala Sitharaman on Friday said the government's priority is to tame inflation to ensure sustained economic growth. Addressing the B20 Summit India, being hosted by the Confederation of Indian Industry (CII), the minister said the GDP numbers for the first quarter, to be released this month, should be good. Observing that elevated interest rates for considerable time hampers recovery, Sitharaman said, "my priority is to tame inflation." Retail inflation soared to a 15-month high of 7.44 per cent in July, mainly on account of spiralling prices of tomatoes and vegetables. On growth, she said that India has been able to accelerate the pace of economic reforms and the first quarter GDP numbers "should be good." The National Statistical Office is scheduled to release the GDP numbers for the first quarter on August 31. Sitharaman said that "green shoots' of private capital expenditure can be felt on back of the government's push for capital expenditure in the budget.

Govt aiming to make India global hub for green hydrogen: FM Sitharaman

Finance Minister Nirmala Sitharaman on Thursday said the government is aiming to make India a global hub for production, utilisation and export of green hydrogen. Speaking at the launch of HSBC India's strategic partnerships towards enabling innovation in Green Hydrogen, the minister said the government is focused on driving green growth through a range of green reforms. The initiative, she said will provide a roadmap towards reducing carbon intensity in the economy and enable the creation of green job opportunities. "Green hydrogen has a pivotal role to play as we counter climate change and work towards enabling a low-carbon and self-reliant economy. We're aiming to make India a global hub for production, utilisation and export of green hydrogen," Sitharaman said, as per an HSBC release. HSBC India has partnered with IIT Bombay and Shakti Sustainable Energy Foundation (SSEF) to pursue technological advancements to make green hydrogen more efficient, cost-effective, and ...

FinMin, MCA must strive for simplification of processes: Sitharaman

Ministries of Finance and Corporate Affairs should strive for simplification of processes with a focus on whole-of-the country approach to maximise delivery and engagement, Union Minister Nirmala Sitharaman said on Tuesday. Addressing the Chintan Shivir of the Finance Ministry and MCA, Sitharaman also emphasised the need to continuously reorient policy in the cultural context and to instil a sense of ownership in decision-making, to enhance effectiveness with efficiency. During the three-day Chintan Shivir of the Ministry of Finance and Ministry of Corporate Affairs, discussions were held by more than 100 senior officers of MoF and MCA on how to re-orient to achieve the Amrit Kaal goals. In a statement issued after the conclusion of the Chintan Shivir on Tuesday, Sitharaman advised the officers to optimally utilise the vast pool of resources and experience at disposal in the Government. The Finance Minister underlined mentoring of young generations to embellish efforts in the march

Path to Viksit Bharat: FM Sitharaman for optimum resource utilisation

Sitharaman is chairing a three-day Chintan Shivir of the Ministry of Finance from 20-22 August 2023 at Tent City in Kevadiya

Framework in works to make GIFT City global hub for accounting: Sitharaman

Union Finance Minister Nirmala Sitharaman on Saturday said a comprehensive legal framework will soon be in place to enable accounting, auditing and taxation professionals to provide services from GIFT City, turning it into a global hub for accounting and financial back-office functions. Chairing a review meeting on the growth and development of GIFT-IFSC at Gujarat International Finance Tec-City (GIFT City), Sitharaman also emphasised using the maximum potential of the Indian International Bullion Exchange IFSC (IIBX) -- launched here in 2022 -- in ensuring disintermediation and efficient price discovery. She asked the Reserve Bank of India to pilot the import of tariff rate quota (TRQ) gold under the Comprehensive Economic Partnership Agreement (CEPA) with the United Arab Emirates through IIBX to pave the way for Indian banks efficiently using the IIBX platform, an official release stated. The Union minister exhorted both the International Financial Services Centres Authority (IFSC

NEP 2020 flexible, not imposed on states by Centre: FM Sitharaman

Union Finance Minister Nirmala Sitharaman on Thursday asserted that the National Education Policy (NEP) 2020 is flexible and is not imposed on states by the Centre. States can adopt the policy according to their requirements, she said at the launch event for Desia' and Kuwi' (tribal languages) primer books in Bhubaneswar, along with Union Education Minister Dharmendra Pradhan. NEP is a flexible policy. It is not something that the Centre decides and imposes on all the states. It is a broad framework and the states can adopt it according to their requirements, Sitharaman said. She said the NEP is a result of different people putting their minds together after extensive consultation. Sitharaman also said that when one learns, speaks and thinks in one's mother tongue, there's clarity of thought. That is why learning in the mother tongue is important. The central government is making all-out efforts for the education of tribal children. Speaking on the occasion, Pradhan said there are

Familiarise with newer global areas: FM Nirmala Sitharaman to CAs

On the use of technology and generative artificial intelligence, Sitharaman said: "The traditional image of accounting as a manual and tedious process is rapidly evolving; and for your good"

Sitharaman administers 'Panch Pran' pledge, honours martyr's family in Puri

Union Finance Minister Nirmala Sitharaman on Thursday administered the Panch Pran' pledge to a gathering during a programme at the Central Sanskrit University here and said every Indian should be free from the slavery mindset instilled by the British. India will be developed and self-reliant only if we follow the pledge, she said. "Prime Minister Narendra Modi has emphasised the need to eliminate any trace of colonial mindset," she said. Along with Sitharaman, the gathering at the varsity read out the Panch Pran resolve, "We pledge to make India developed and self-reliant by 2047, we pledge to remove any trace of colonial mindset, we pledge to celebrate our heritage, we pledge to strengthen unity and respect those who protect the country and we pledge to perform the duties of a citizen." Union Education Minister Dharmendra Pradhan, who also attended the event, said, "Modi has launched the 'Meri Mati, Mera Desh' campaign to honour our martyred bravehearts. I thank all of you for tak

FM Sitharaman invites JBIC for engagement with NIIF, EXIM Bank of India

Finance Minister Nirmala Sitharaman on Wednesday invited Japan Bank for International Cooperation (JBIC) for an active engagement with National Investment and Infrastructure Fund (NIIF), EXIM Bank of India and other financial institutions citing huge opportunity for investment in the country. During the meeting with JBIC Governor Hayashi Nobumitsu here, both exchanged views on JBIC's recent activities in India contributing towards Japan's investment target of five trillion yen over the next five years. "The Union Finance Minister observed that India has been ranked by the JBIC as one of the most attractive #investment destinations in recent years' survey of Japanese manufacturing companies and encouraged engagement of JBIC with Indian financial institutions such as Exim Bank @IndiaEximBank, NIIF and lending banks to leverage the strength and complementarities of both countries," the finance ministry said in a statement posted on X. Japan has agreed to provide 5 trillion yen in ...

DBT helps govt save Rs 2.73 trillion since 2014: FM Nirmala Sitharaman

After 1947, Sitharaman said, India depended on a growth formula derived from the centralised USSR model where everything was decided at the Centre and one size-fits all methodology was adopted

Govt saves Rs 2.73 trn in last 9 years by adopting DBT: FM Sitharaman

Finance Minister Nirmala Sitharaman on Monday said the government has saved Rs 2.73 lakh crore of taxpayers' money in the last nine years by adopting Direct Benefit Transfer (DBT) to send money to targeted beneficiaries and weeding out bogus accounts. It has helped plug leakages and better targeting of genuine and deserving beneficiaries of the government scheme, she said at an event organised by NGO Disha Bharat. Talking about various initiatives taken by the government, Sitharaman said, "Efficiency in governance in the last nine years has improved the possibilities for more money available for, let us say, education and health because we adopted DBT". With DBT in place, pension, money for work, interest subvention and LPG gas subsidy transfer are being credited to Aadhaar-verified bank accounts of deserving beneficiaries, and all bogus accounts have been weeded out, she noted. "Since 2014, by gradually increasing the number of schemes under DBT, we have saved Rs 2.73 lakh crore..

FM calls for concerted global efforts to restructure debt of poor nations

Sitharaman said G20 also stresses the criticality of debt vulnerability in low- and middle-income countries through an effective, comprehensive, and systematic approach

GST registration to be mandatory for gaming operators based overseas

Parliament passes two money Bills to levy 28% tax on online money gaming, casinos, horse racing