Page 88 - Nirmala Sitharaman

Won't let guard down against inflation, says FM Nirmala Sitharaman

Economists expect inflation to fall further towards 4 per cent levels - the medium-term target of the central bank - in May

Sitharaman slams Chidambaram's comments on Rs 2,000 banknote withdrawal

Union Finance Minister Nirmala Sitharaman on Monday criticised Congress leader P Chidambaram over his comments on the withdrawal of Rs 2,000 currency note and said to cast aspersions on matters of this nature "does not augur well with the former finance minister". She was speaking to reporters here as a part of press conferences being held by Union ministers in different parts of the country on the completion of nine years of the Narendra Modi government. Chidambaram on Monday said the introduction of Rs 2,000 note and its subsequent withdrawal have cast doubt on the integrity and stability of the Indian currency. He also said the key economic indicators are pointing downward and there is low confidence that the economy will reach the high growth path. The Reserve Bank of India recently announced withdrawal of Rs 2000 notes from circulation and asked people to deposit it in banks or get it exchanged by September 30. Asked about Chidambaram's comments, Sitharaman said, To cast ...

Sitharaman posts impressive report card of Modi govt's 9-year rule

"We have elevated the country's status globally in the past nine years, the poor have got food security with dignity... No other country has achieved so much in the same period in renewable energy"

Will meet Sitharaman to claim refund of Rs 9,242 cr deposited in NPS: Sukhu

Himachal Pradesh Chief Minister Sukhvinder Sukhu on Sunday said he will meet Union Finance Minister Nirmala Sitharaman in the national capital to claim a refund of Rs 9242.60 crore deposited in the National Pension Scheme by the state government. During the eighth meeting of the governing council of NITI Aayog held in New Delhi on Saturday, Sukhu urged the Centre to issue directions to the Pension Fund Regulatory and Development Authority to return the amount. Addressing a 'Purani Pension Aabhar Rally' organised by the state's government employees here, Sukhu asserted that the Congress government will fulfil its pre-poll promise of restoring the old pension scheme in the state. We are determined to reclaim Rs 9242.60 crore deposited in NPS. It is our right to get the money back and we will fight for it. I will visit Delhi to discuss the matter with Union Finance Minister Nirmala Sitharaman, Sukhu said at the rally. The CM emphasised that the restoration of the old pension scheme wa

PM Modi become most trusted, popular leader with his Seva Bhaav, says FM

Prime Minister Narendra Modi has brought in change in the mindset and earned the trust and faith of the people of this country through his unflinching 'Seva Bhaav', Finance Minister Nirmala Sitharaman said on Saturday. Participating in a national conclave to celebrate nine years of the Modi government, she said, compared to earlier governments when corruption was rampant, there is not even a whiff of corruption since 2014. The government in the last 9 years has achieved many things in different areas and in each category it has improved its performance with every passing year, she said. Beyond numbers, she said, "there is something that I have to tell you. Mindset has changed. Those governing have changed their mindset. People who voted for such a government see the change in mindset even among our friends and families." Mindset change comes when the government trusts people and when people trust the government in turn, she said, adding people have faith that Prime Minister Modi wi

FM reviews progress on Finance Track deliverables for 2023 under G20

Finance minister Nirmala Sitharaman on Friday reviewed the progress on Finance Track deliverables for 2023 under India's G20 Presidency. This is in run-up to the third G20 Finance Ministers and Central Bank Governors Meeting (FMCBG) scheduled on July 17-18 in Gandhinagar, Gujarat. The finance minister was also briefed on various events planned on the sidelines of FMCBG meeting, which will see the participation of G20 ministers, governors, invitee countries and heads of various international organisations. "During the interaction, FM provided guidance on the ongoing work in various #FinanceTrack workstreams and underscored the importance of reflecting on the perspectives of developing countries & making the global economic system resilient & prepared for future," the finance ministry said in a tweet. Under the theme of 'Vasudhaiva Kutumbakam', the finance minister provided guidance for G20 India deliverables to facilitate coordinated action for shared global prosperity. "During

Leave encashment limit hiked to Rs 25 lakh: What does it mean for you?

The relief was announced by Finance Minister Nirmala Sitharaman in the Union Budget 2023 and the proposed hike has come into place since April 1, 2023, a circular from CBDT stated

Leave encashment limit for non-govt employees hiked to Rs 25 lakh: CBDT

The CBDT circular dated May 24 stated that the increased leave encashment limit will be applicable from April 1, 2023

Sitharaman appeals oppn to rethink boycott of parliament innaugration

Asserting that power transfers never happen merely at the shake of hands, Finance Minister Nirmala Sitharaman on Thursday appealed to opposition parties to reconsider their decision to boycott the dedication of the new Parliament building scheduled on May 28, saying it is a "temple of democracy." Addressing reporters here, she said 20 "aadeenams" (pontiffs) from Tamil Nadu have been invited for the inauguration, where the 'Sengol' will be installed, as did in 1947 to symbolise the power transformation from the British. Prime Minister Narendra Modi is scheduled to inaugurate the new Parliament building on Sunday. Sitharaman addressed a press conference at the Raj Bhavan here in the company of TN Governor RN Ravi, his Telangana and Nagaland counterparts, Tamilsai Soundararajan and La Ganesan, respectively, Union Minister L Murugan and TN Minister PK Sekar Babu. The ruling DMK in Tamil Nadu, one among the 19 opposition parties in the Centre that are boycotting the inauguration, dubbed

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