Page 87 - Nirmala Sitharaman

FM Sitharaman advises new recruits to inform public about Rozgar Mela

Union Finance Minister Nirmala Sitharaman on Tuesday appealed to the persons who received their appointment letters under the latest Rozgar Mela to spread the word on the scheme's benefits with the public. Prime Minister Narendra Modi today presented 71,000 appointment letters to newly inducted recruits in government departments and organisations across the country. After presenting the job offers to about 250 people at an event in Chennai, Sitharaman said the Rozgar Mela is a step towards the fulfillment of the Prime Minister's commitment to accord the highest priority to employment generation. The Union Minister presented the appointment orders to the new recruits from various ministries and departments including the Department of Posts, railways, health and family welfare, petroleum, and defence. "Take the benefits of the (Rozgar Mela scheme) to everyone outside your family and tell them to scale up in their life...," Sitharaman said during her brief interaction with some of the

Developing nations need to provide digital solutions for citizens: FM

Addressing G7 meet in Japan, Sitharaman highlighted that access to digital connectivity has empowered people and there is a need to discuss ways to measure empowerment going beyond GDP indicators

FM Sitharaman pitches for empowering people by increasing digital access

Finance Minister Nirmala Sitharaman on Friday underlined the need for going beyond GDP numbers and empowering people by improving digital connectivity in developing nations. Addressing G7 seminar on economic policies for welfare, in Niigata, Japan, she stressed that technology improves access for the poor to markets and basic services and highlighted that access to digital connectivity has empowered people and there is a need to discuss ways to measure empowerment going beyond GDP indicators. She underlined the dilemmas faced by Emerging Markets and Developing Economies (EMDEs) between climate security and growth as they manage overlapping crises and socio-economic transformation. "Finance Minister Smt. @nsitharaman emphasised on the importance of #SustainableGrowth and environment and the need for balancing the two in the short and long run," a finance ministry tweet said. "The Union Finance Minister shared India's focus on #technology #DigitalPublicInfrastructure #DPI #GreenHydro

Sitharaman meets IMF chief Georgieva on sidelines of G7 meet in Japan

She is on a two-day visit to Japan. The G7 meeting is taking place in Niigata

FM Nirmala Sitharaman invites Japan's business leaders to invest in India

India's Finance Minister Nirmala Sitharaman on Thursday invited Japanese investors and business leaders to explore investment opportunities in the country, saying that New Delhi is easing a lot of restrictions and ensuring overall ease of doing business in its walk towards Amrit Kaal. Indian government describes 'Amrit Kaal', as the 25-year period culminating in the centenary of the country's independence. Sitharaman is on a two-day official visit to Niigata, Japan, to attend a G7 meeting. India is an invitee to G 7 Finance Ministers and Central Bank Governors meeting. Interacting with a group of investors and business leaders on the theme of 'Rising Investment Opportunities: Destination India', Sitharaman talked about the initiatives of the Indian government towards building India in 'Amrit Kaal'. She further said the Union Budget presented by her in February was prepared keeping in mind the needs of the next 25 years to help India become a developed nation by 2047. Referring to

FM Nirmala Sitharaman leaves for 2-day visit to Japan to attend G 7 meeting

Finance Minister Nirmala Sitharaman on Wednesday embarked on an official two-day visit to Niigata, Japan, to attend a G7 meeting. India is an invitee to G 7 Finance Ministers and Central Bank Governors meeting. "During her visit, FM Smt.@nsitharaman will also have multilateral and bilateral engagements with her counterparts, besides a roundtable meeting with business leaders and investors," a finance ministry tweet said. During her trip, she will address investors and business leaders in Tokyo. Besides, she will address a seminar on 'Economic Policy in Pursuit of Welfare' at the Finance Ministers and Central Bank Governors (FMCBG) meeting while two other sessions--Tackling Immediate Challenges Facing Developing Countries and Strengthening International Cooperation for Sustainable and Inclusive Growth. The G7 is a forum of leading industrialised nations--Canada, France, Germany, Italy, Japan, the United Kingdom and the United States. Representatives of the European Union are alway

Social security schemes safeguard underprivileged financially: Sitharaman

Finance minister Nirmala Sitharaman on Tuesday said three social security schemes, including PMJJBY and PMSBY, aim to provide essential financial services to citizens especially underprivileged and safeguard them against unforeseen risks, losses, and financial uncertainties. Three social security (Jan Suraksha) schemes -- Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Atal Pension Yojana (APY) -- were launched on May 9, 2015. The three schemes are dedicated to the welfare of the citizens, recognising the need for securing human life from unforeseen eventualisation and financial uncertainties. In order to ensure that the people from the unorganised section of the country are financially secure, the government launched two insurance schemes -- PMJJBY and PMSBY; and also introduced APY to cover the exigencies in the old age. Speaking on the 8th anniversary of Jan Suraksha schemes, the finance minister said, these schemes aim to provid

FM Sitharaman to review state of economy at FSDC meeting on Monday

Finance minister Nirmala Sitharaman will review the state of the economy amid global and domestic challenges at a meeting of the Financial Stability and Development Council (FSDC) on Monday. The 27th meeting of the high-level panel to be held here will be attended by all financial sector regulators, including RBI Governor Shaktikanta Das, sources said. This would be the first meeting of the FSDC after the passage of Rs 45 lakh crore Budget for 2023-24 with greater emphasis on capital expenditure with an outlay of Rs 10,00,961 crore. The FSDC is the apex body of sectoral regulators, headed by the Union finance minister. The meeting will review the current global and domestic economic situation and financial stability issues, including those concerning banking and NBFCs in view of failure of Silicon Valley Bank and Signature Bank and liquidity pressure faced by Credit Suisse, according to the sources. The council would review the progress of measures approved earlier for further ...

Inflation slightly above 'tolerance limit', govt working to control it: FM

India's annual retail inflation for March rose at the slowest pace in nearly 15 months

'Support replacing charter lending limit', says FM Nirmala Sitharaman

Met South Korean FM and invited other investors to take forward investment in India's infrastructure sector

ADB to explore risk-factored approach for lending to developing nations: FM

Finance minister Nirmala Sitharaman on Thursday said India encourages ADB to explore adopting innovative, risk-factored approach for lending to the developing member countries (DMCs). During her intervention in the Governors Plenary meeting of Asian Development Bank (ADB), she expressed India's support to remove the charter lending limit from the ADB Charter altogether and relocating the limitation to the Board of Directors-approved Capital Adequacy Framework (CAF). CAF is designed to protect the risk-bearing capacity of ADB without relying on callable capital, and to maintain ADB's ability to lend even during crises and after a large non-accrual shock. Sitharaman, representing as Governor for India in 56th ADB Annual Meeting, expressed hope that the open discussions in the Plenary will lead to common ground and resolution of many issues and provide the appropriate guidance to the bank. "India encourages ADB to explore adopting innovative, risk-factored approach for lending to the

Sitharaman meets Korean FM, highlights investment opportunities in India

Finance minister Nirmala Sitharaman on Thursday highlighted greater opportunities in India for investment in manufacturing, food processing and marine resources in a bilateral meeting with her South Korean counterpart. The minister met Choo Kyung-ho, Deputy PM & Minister of Economy and Finance, South Korea, on the sidelines of 56th ADB Annual Meeting here, and also invited Korea Investment Corporation (KIC) and other investors to take forward investment in India's infrastructure sector. During the meeting, Sitharaman also highlighted India's enabling policy framework for e-vehicles and green hydrogen sectors for further attracting investment in India with the engagement of the Korean government. "FM Smt. @nsitharaman emphasised on greater opportunities in India for #investments in #manufacturing, #RenewableEnergy, #infrastructure, #pharmaceuticals, #FoodProcessing, including #marine resources, among other sectors," a finance ministry tweet said. Sitharaman further informed her ...

Sitharaman confident Banga will use experience in pursuing World Bank goals

Finance minister Nirmala Sitharaman on Thursday exuded confidence that the incoming World Bank President Ajay Banga will utilise his corporate world experience in pursuing the goals of the multilateral lending agency. Banga, 63, will take over as the President of the World Bank on June 2. He will succeed President David Malpass. "Hearty congratulations Ajay Banga on being selected as the President of @WorldBank. I am confident that you'll bring your wide experience in the corporate world for meeting the goals of the Bank," Sitharaman tweeted. The minister is currently in Incheon in South Korea to attend the 56th annual meeting of the Asian Development Bank (ADB). Banga will be the first-ever Indian-American to head the global financial institution. "The Executive Directors of the World Bank today selected Ajay Banga as President of the World Bank for a five-year term beginning June 2, 2023," the World Bank had said. In February, United States President Joe Biden announced that t

'WTO not listening to developing nations', says FM Nirmala Sitharaman

Sitharaman stressed that there was also a need to involve the private sector to step up investment and innovation

Need to focus on infra, innovation for sustainable growth: FM Sitharaman

Finance Minister Nirmala Sitharaman on Wednesday underlined the need for focussing on four Is -- infrastructure, investment, innovation and inclusivity -- to achieve sustainable growth in the long-term. The global economy in the past few years has faced trials and tribulations, she said, adding countries have made efforts to protect the vulnerable section of the society at the cost of higher government borrowing. Speaking at the Asian Development Bank (ADB) Governor's seminar on 'Policies to Support Asia's Rebound', Sitharaman stressed that there is also a need to involve the private sector to step up investment and innovation. Elaborating on the four Is, the Minister said investment is essential to spur infrastructure development, which has a potential to generate jobs. The third I is for innovation, she said adding innovative solutions from startups are required to deal with issues facing the countries. Unless you have innovative thoughts to address your local problems, and ...

Farm subsidies impacts food security, WTO needs to look with open mind: FM

The World Trade Organisation (WTO) should look at the issue of farm subsidies with an open mind as it impacts the food security needs of emerging economies in the backdrop of Covid pandemic and the Russia-Ukraine war, finance minister Nirmala Sitharaman said on Wednesday. Speaking at the Asian Development Bank (ADB) Governor's seminar on 'Policies to support Asia's rebound', Sitharaman said sooner a solution is found out by the WTO, the better it would be for the world. "Since WTO was founded, there has been a grievance with respect to the export of agricultural products and generally in trade, the voice of the Global South and emerging markets has not been heard at par with that of the developed countries," she said. The 'Global South' largely refers to countries in Asia, Africa and South America. Subsidies for agriculture and poor farmers in developing countries were not counted at all and were frozen, she said, adding that in context of Covid and Russia-Ukraine war, food and ...

NDLS latest casualty as budget constraints halt station revamp exercise

L&T quoted more than Rs 8,000 crore for the renovation. However, the government's bid price was around Rs 5,000 crore

Emerging economies must step up to fix global challenges: FM Sitharaman

She was speaking with the members of the Indian diaspora in Seoul, South Korea, on the sidelines of the annual meeting of the Asian Development Bank

Online gaming to attract investment once tax policy finalises: Sitharaman

Finance Minister Nirmala Sitharaman on Tuesday said the GST Council is deliberating on taxation policy for online gaming and exuded confidence that the sector will attract investment once it is finalised. She was responding to a question from a Korean gaming company Krafton on what are India's plans to attract foreign investment in gaming companies. The minister said the discussion is going on at the ministerial level in the GST Council into various aspects of online gaming, including taxation and regulation. The Goods and Services Tax Council is chaired by Sitharaman and comprises finance ministers of states. "Once the policy certainty arrives, taxation becomes more ... clear, it will attract investors," Sitharaman said while addressing the Indian diaspora in Seoul. Online gaming witnessed a spurt during the time of the Covid lockdown, with the number of users in India rising substantially. As per a KPMG report, the online gaming sector would grow to Rs 29,000 crore by 2024-25, f

Essential for emerging economies to become engines of growth: Sitharaman

Finance Minister Nirmala Sitharaman on Tuesday said it is essential for emerging economies to become growth engines and help in resolving challenges facing the world. She further said the G20 Presidency has come at a crucial stage to the emerging economies, stressing that three years are critical for the global economy, which is going through a reset. India currently holds the presidency of G20, which is a grouping of developing and developed countries. India has taken over the presidency from Indonesia and will hand it over to Brazil later in the year. Addressing the Indian diaspora in Seoul, the minister said India is being noticed worldwide not just because it is the fastest-growing large economy - this year as well as the coming year - but also because of the way in which it has handled the pandemic and economic revival. The minister is in Seoul to attend the annual meeting of the Asian Development Bank (ADB). She said while the advanced economies today are looking at a long-d