Page 89 - Nirmala Sitharaman

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

Nirmala Sitharaman meets ADB chief, says India remains key partner

Sitharaman also expressed support to ADB for innovative financing mechanisms to enhance the lending capacity of the bank

There's no politics in 'Mann Ki Baat', abusing PM part of Cong: Sitharaman

Prime Minister Narendra Modi spoke like a "pradhan sevak" during the 100th episode of 'Mann Ki Baat' and there is no politics in the radio broadcast, Union Minister Nirmala Sitharaman said on Sunday, countering the Congress' criticism of the programme. Now if the Congress is "obsessed" with talking about the agenda set by its first family, it's up to the party, she said. Earlier in the day, the Congress took a swipe at Modi over his 100th 'Mann Ki Baat' radio broadcast, saying there was much fanfare in the run-up to the episode but it was "maun ki baat (silence)" on critical issues such as the border dispute with China, stock manipulation allegations against the Adani Group, "increasing" economic inequalities and the wrestlers' protest. Hitting back, Sitharaman said, "He (Modi) talks about everything. Now if the Congress is obsessed with talking about the agenda that the first family of the party sets, it's up to the party." "There is no politics in Mann Ki Baat... There is positiv

CBIC to introduce automated GST scrutiny system by next week: FM Sitharaman

Finance Minister Nirmala Sitharaman on Saturday asked the Central Board of Indirect Taxes & Customs (CBIC) to increase the taxpayer base and introduce an automated GST return scrutiny system by next week. The total Indirect Tax collections for the 2022-23 fiscal stood at Rs 13.82 lakh crore, up from Rs 12.89 Lakh crore in 2021-22. The average gross monthly GST collection for 2022-23 stood at Rs 1.51 lakh crore and monthly GST revenue collections exceeded Rs 1.4 lakh crore for 12 months in a row. In a review meeting with the CBIC, Sitharaman desired that the indirect tax body may undertake a comprehensive root cause analysis of fake billing and input tax credit claims by studying the typology of cases already booked and come up with recommendations on technology-based solutions to address the menace and prevent its occurrence. The Finance Minister directed CBIC to introduce its automated GST return scrutiny by next week and to implement an action plan to increase the taxpayer base .

Cordiality missing in current political discourse: FM Nirmala Sitharaman

Sitharaman made references to Vaghul's frequent run-ins with the political executive

Cordiality missing in political discourse, says FM Nirmala Sitharaman

The finance minister also said that for forty years, each government competed with the previous one for showing that they are more socialist than the dispensation that preceded it

Mahila Samman Savings Certificates: All you need to know about the scheme

There are no upper limits to the number of accounts. However, there is a cap on the maximum deposit limit. Additionally, there should be a gap of at least 3 months between opening of any two accounts

Supply side problems adding to inflation, govt monitoring continuously: FM

Union Finance Minister Nirmala Sitharaman on Wednesday said seasonal supply side problems add to inflation and that they are being monitored continuously with efforts being made to bring down prices of essential commodities. Highlighting that efforts have also been made to bring down fuel and natural gas prices, she said these are imports coming into the country and the prices are high in the global market, due to the impact of Covid and Russia-Ukraine war. "On prices, since November 2021, when the Prime Minister himself has instructed us to reduce the excise duty on fuel, as a result before Deepavali one announcement was made. Then sometime in June 2022, again we reduced the excise duty further. As a result, price of fuel came down somewhat," Sitharaman said during a press conference here. "But when we are speaking about fuel or natural gas, we need to understand one thing: these are products which are imported, and particularly after Covid and particularly even more after the war

High-balance bank accounts without updated KYC under govt's radar

The RBI has instructed banks to finish updating KYC on a recurring basis for all customers with active accounts by June 2023, an official said

Sitharaman, Rajnath, Yogi to address public meetings in K'taka tomorrow

Union Ministers Nirmala Sitharaman and Rajnath Singh and Uttar Pradesh Chief Minister Yogi Adityanath will be in Karnataka on Wednesday to campaign for the BJP in various parts of the State in run-up to the May 10 assembly election. According to the tour programme, Finance Minister Sitharaman will fly from Bengaluru to Kalaburagi on Wednesday by a special flight and will address a press meet at 10 AM. She will also have an interaction with intellectuals at the Chamber of Commerce and Industry Hall at 11 AM. The Finance Minister will address Mahila Samavesha' (women's conclave) at Aland in Kalaburagi district. She will return from Aland to the district headquarters town of Kalaburagi to take part in another Mahila Samavesha' at 3 PM. Sitharaman will also take part in a door-to-door campaign in Kalaburagi city for an hour from 4 PM. She will fly back to Bengaluru in a special aircraft. Defence Minister Rajnath Singh will reach Belagavi by a special aircraft from Delhi and then fly i

FM directs CBDT to ensure time-bound disposal of tax payers' applications

Finance Minister Nirmala Sitharaman emphasised that the Central Board of Direct Taxes (CBDT) should ensure timely action on all applications filed by tax payers

Top headlines: FM on Q4 growth momentum, Reliance Cap lenders meet & more

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No proposal to regulate finfluencers, clampdown on ponzi apps in works: FM

Regulating crypto without global consensus will not be effective, says finance minister Nirmala Sitharaman

Growth momentum may have sustained in Q4, says FM Nirmala Sitharaman

The National Statistical Office (NSO) will release the March quarter gross domestic product (GDP) data on May 31

Amul-Nandini was made emotional issue due to polls, says FM Sitharaman

To suddenly say Amul is being brought to Karnataka to kill Nandini is "brazen", Union Finance Minister Nirmala Sitharaman said on Sunday, as she alleged that the Gujarat-based dairy cooperative had entered the state when Congress was in power here. The Karnataka Milk Federation (KMF) sells milk, curd and other dairy products under the brand name Nandini. She said things were tweaked, twisted and made an emotional issue because it is election time in Karnataka, where Assembly polls would be held on May 10. "In India's scheme of things, every state has its own milk cooperative. Karnataka's Nandini - whoever doesn't recognise it? Even now as I've come, I had Nandini milk, curd, peda... Of course in Delhi I'll buy Amul. I represent Karnataka (but) in Delhi, if Nandini isn't available, I'm mentally not a sanyasi to say I won't drink milk if Nandini isn't available. I still buy Amul. That's not being against Karnataka," Sitharaman said. Strengthening Nandini and dairy farmers in Karnatak

Green projects: FinMin may allow cos to deploy blended finance instruments

The finance ministry is examining the possibility of allowing financial institutions to raise funds from blended finance instruments to invest in green climate projects, sources said. Blended finance involves leveraging of financial resources of the public sector or philanthropies to phase in private sector investment, thereby catalysing private finance in high-risk and long-gestation projects. The use of blended finance promotes investments in new and emerging sectors and it attracts commercial capital towards projects that contribute to sustainable development, while providing financial returns to investors, the sources said, adding, it holds the potential to catalyse private finance in such projects. It is still to be tested and therefore the ministry is looking at it from all possible angles, the sources said. Blended finance is aligned to the Prime Minister goal to cut its emissions to net zero by 2070. Prime Minister Narendra Modi, announced India's aim of achieving net zero

FM Sitharaman, Russian Dy PM Manturov discuss economic cooperation

Union Finance Minister Nirmala Sitharaman on Tuesday held a meeting with Russian Deputy Prime Minister Denis Manturov in New Delhi. The two leaders exchanged views on strengthening economic and financial cooperation in to promote bilateral investment and trade.The Ministry of Finance in a tweet said, "Union Finance Minister Smt. @nsitharamanmet Mr. Denis Manturov, Deputy Prime Minister and Minister of Industry & Trade of the Russian Federation, today, at New Delhi."In another tweet, the Ministry of Finance stated, "Both Ministers exchanged views on strengthening economic and financial cooperation in areas of mutual interests to promote bilateral investment and trade."Denis Manturov, who is also Russia's Minister of Industry and Trade on Monday arrived in New Delhi to co-chair the Intergovernmental Russian-Indian Commission.On Tuesday, Russian Deputy Prime Minister Denis Manturov and External Affairs Minister S Jaishankar attended the 24th meeting of the Intergovernmental ...

Making enough effort to ensure economy remains buoyant: FM Sitharaman

'Weakness in demand for goods, services activity could be a drag on recovery'