Page 93 - Nirmala Sitharaman

Govt not in 'crazy rush' to sell everything: FM Sitharaman on privatisation

The government is not in a "crazy rush" to sell everything and it will continue to have a presence in four strategic sectors, including telecom, Finance Minister Nirmala Sitharaman said on Saturday. In strategic sectors, a bare minimum presence of the existing public sector commercial enterprises at the holding company level will be retained under government control. The remaining enterprises in a strategic sector will be considered for privatisation or merger with another PSE or for closure. Speaking at the Raisina Dialogue, the minister said that the country will have government-owned professionally run companies in four broad strategic sectors. According to the PSE Policy, the four broad strategic sectors are - atomic energy, space and defence; transport and telecommunication; Power, Petroleum, Coal and other minerals; and Banking, Insurance and Financial Services. The policy, she added, "is not a crazy rushing out to sell everything..nor it is saying that the government will ru

Several ministers of G20 nations spoken of 'friendshoring': FM Sitharaman

Sithraman said that well-trained youth, middle class giving a captive market, technology-driven investment and public infrastructure were among reasons for India's sustained growth

In a first, Australia's Deakin University to set up campus in GIFT city

Deakin University sits in the 266th spot in the QS World University Rankings. It is among the top 50 young universities in the world

Create a roadmap to upscale organic farming in Sikkim: FM Sitharaman

To boost tourism, the state can take the initiative to call some of the tourism aggregators who facilitate homestays, said Finance Minister Nirmala Sitharaman

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India's G20 presidency received strong support for all our priorities: FM

Finance Minister also said that she is grateful for the USA and UK, who were very supportive of the global coordination framework, particularly on the crypto

Progressing towards regulation on Crypto under India's G20 presidency: FM

Recognizing the risks attached to the private virtual assets, G20 nations moved a step closer to developing a coordinated and comprehensive policy approach to deal with the crypto assets, she said

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G20 nations agree on the language to deal with debt vulnerabilities

Finance Minister Nirmala Sitharaman on Sunday said the G20 nations have agreed on language to deal with the debt vulnerabilities of developing countries. The G20 Chair's Summary and Outcome Document issued after the meeting of the G20 Finance Ministers and central bank governors (FMCBG) meetings said the ministers recognised the urgency to address debt vulnerabilities in low and middle-income countries. "Strengthening multilateral coordination by official bilateral and private creditors is needed to address the deteriorating debt situation and facilitate coordinated debt treatment for debt-distressed countries," the outcome document said. Sitharaman said one of the successes under the first FMCBG meeting of the G20 India Presidency was to "arrive at a common position on debt language". "It is important for us to emphasise on that because the vulnerable countries are looking up to the G20 countries to find some solutions to arrive at a position where their debt stress can be relieve

G20 nations adopt 'chair summary' after Russia, China opposition

India, as G20 President, was aiming for a communique, which is a stronger statement of intent

FM meets heads of World Bank, IMF, discusses issue of debt restructuring

Finance Minister Nirmala Sitharaman on Saturday held a roundtable with the heads of the World Bank and the IMF and discussed the issue of debt restructuring faced by some of the countries. The roundtable with World Bank President David Malpass and IMF managing director Kristalina Georgieva held on the sidelines of the first G20 Finance Ministers and Central Bank Governors meeting here discussed the issue of debt restructuring challenges and debt vulnerabilities. "Finance Minister Smt. @nsitharaman flagged the need to acknowledge today's diverse creditor landscape and build a common understanding of challenges and ways to address them," a tweet from the Finance Ministry said. She called for the voices of the vulnerable and under-represented debtor countries to be heard through the G20. "Ms@KGeorgieva, MD, IMF@IMFNews and Mr@DavidMalpassWBG, President @WorldBank called for faster debt restructuring processes and noted the debt forum was an opportunity to work together and help ...

FM highlights rising debt vulnerabilities in developing countries at G20

Finance Minister Nirmala Sitharaman on Friday highlighted rising debt vulnerabilities in many developing countries and sought views from G20 member nations on 'multilateral coordination' for managing the burden. Speaking at inaugural session of the G20 finance ministers and central bank governors (FMCBG) meeting, Sitharaman also sought views on how multilateral development banks, like the IMF and World Bank, can be strengthened to address shared global challenges of the 21st century, while maintaining a focus on Sustainable Development Goals (SDGs) and poverty eradication. The discussions of the first session of G20 FMCBG meeting focused on issues relating to international financial architecture, sustainable finance and infrastructure. "FM highlighted the rising #DebtVulnerbilities in many vulnerable countries and sought views of the #G20 members on #MultilateralCoordination stating that managing global debt vulnerabilities would be crucial for the world economy," the finance ...

FM pitches framework to regulate crypto in meeting with G20 ministers

Finance minister Nirmala Sitharaman on Thursday pitched for a global framework to regulate cryptocurrencies, besides firming up ways to tackle global debt vulnerabilities and strengthening multilateral development banks during bilateral meetings with her counterparts, including from US and Japan, ahead of the G-20 meeting. The finance ministers of the G20 countries, which is a grouping of developed and developing nations, are here to participate in the two-day meeting of G20 finance ministers and central bank governors (FMCBG) beginning February 24. Under the G20 Presidency, India will be pressing for a global framework to regulate the cryptocurrencies, ways to tackle the aggravated debt vulnerabilities facing the developing nations mainly on account of the continuing geopolitical tensions and the pandemic. It is feared that if left unaddressed, the mounting debt vulnerabilities of developing nations could trigger global recession and push millions to extreme poverty. The minister

G20 meetings: FM Sitharaman meets Japanese counterpart Shunichi Suzuki

Union Finance Minister Nirmala Sitharaman on Thursday met her Japanese counterpart Shunichi Suzuki, ahead of the first G20 Finance Ministers and Central Bank Governors meeting

Nirmala Sitharaman meets US Treasury Secy ahead of G20 Finance meeting

They leaders discussed their perspectives on strengthening multilateral development banks, global debt vulnerabilities, crypto assets and health

MDB reforms to facilitate climate financing: FM Nirmala Sitharaman

She emphasised the country's belief that the recommendations of the expert panel on the MDB's capital adequacy frameworks can significantly unlock development financing

Sitharaman meets Asian Development Bank President, lauds support to India

Nirmala Sitharaman met ADB President Masatsugu Asakawa and acknowledged the swift response and support provided by the institution to all its developing member countries

FM Nirmala Sitharaman defends RBI: 'Reining in inflation, capital outflows'

India's retail inflation reversed its downward trend in January at 6.52 per cent and once again breached the central bank's upper tolerance limit

Funds deposited for NPS cannot be transferred to state governments: Centre

The central government on Monday again clarified that the funds deposited for National Pension Scheme (NPS) cannot be given to state governments as per the current laws. Both finance minister Nirmala Sitharaman and finance secretary Vivek Joshi said that if any state is expecting that the funds deposited for NPS can be returned to them then it is impossible. Citing the recent crash in Adani group companies' shares, Rajasthan chief minister Ashok Gehlot had earlier said that the employees of the state government cannot be left at the mercy of the share market where National Pension Scheme (NPS) funds are invested. He had also urged the Centre to give the funds of the state government employees deposited in NPS and said that the state will move to the Supreme Court if the funds are not transferred to the Old Pension Scheme (OPS) being implemented by the state government. "If one state expects that the funds deposited with the EPFO should be given to the states. If this is the ...

Govt taking steps to control inflation, will continue to focus on it: FM

Union Finance Minister Nirmala Sitharaman on Monday said that the government is taking a lot of steps to control inflation and will continue to focus on it. For instance, in the case of pulses, the government is encouraging farmers to grow pulses to boost domestic production and has also reduced the import duty on some of the pulses to improve local availability. When asked whether Budget 2023-24 would bring down inflation, Sitharaman said: "The government is taking a lot of steps to control inflation and will continue to focus on it." She was in the city for a post-budget 2023 discussion with various stakeholders. "We have taken a lot of steps, for example, encouraging farmers to sow pulses so that the production of pulses in India increases in the coming sowing season," Sitharaman told reporters here. She further said that as a short-term step, "wherever we are importing, whether Masoor, Moong or whatever pulses, the government has reduced the import duty to single digit or has