#FM Nirmala Sitharaman

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Nirmala Sitharaman's proposal for PAN card holders | Mint Primer | Mint

While presenting the last full budget of the current central government, Finance Minister Nirmala Sitharaman has proposed to use PAN card as a common identifier for all digital system at government agencies. The move is expected to simplify KYC process and make it simple for the Income Tax Department and other government agencies to manage documents of the PAN cardholders. Let's hear what the industry's best minds have to say about the consequences of this move.

[krazyshoppy]

FM Sitharaman सोमवार को PSB के प्रमुखों से करेंगी मुलाकात, जानें क्या है आगे का प्लान?

FM Sitharaman सोमवार को PSB के प्रमुखों से करेंगी मुलाकात, जानें क्या है आगे का प्लान?

FM Nirmala SItharaman: वित्त मंत्री निर्मला सीतारमण सार्वजनिक क्षेत्र के बैंकों (PSB) के प्रमुखों के साथ बैठक करेंगी. इस दौरान वह अर्थव्यवस्था के पुनरुद्धार के लिए सरकार द्वारा शुरू की गई विभिन्न योजनाओं पर बैंकों के प्रदर्शन की समीक्षा करेंगी. यह आम बजट 2022-23 पेश किए जाने के बाद पहली समीक्षा बैठक है. ज्यादा लोन देने पर रहेगा फोकससूत्रों ने कहा कि अर्थव्यवस्था के पुनरुद्धार में तेजी लाने के लिए…

[rudrjobdesk]

नरेंद्र मोदी सरकार के 5 बजट, जानें क्या था इनमें खास

नरेंद्र मोदी सरकार के 5 बजट, जानें क्या था इनमें खास

साल 2015-16 के बाद ऐसा पहली बार होगा जब बजट 2020 शनिवार को पेश किया जाएगा।  वित्त वर्ष 2020-21 का आम बजट पहली फरवरी को वित्त मंत्री निर्मला सीतारमण पेश करेंगी। वैसे बजट से एक दिन पहले यानी 31 जनवरी को इकनॉमिक सर्वे जारी किया जाएगा। इसके बाद शनिवार 1 फरवरी को आम बजट पेश किया जाएगा। छह साल के निचले स्तर पर पहुंची भारत की आर्थिक विकास दर को रफ्तार देने के लिए ढांचागत सुधारों की दूसरी लहर की उम्मीद…

[emeriobanque]

According to the latest statement released by Indian Finance Minister Nirmala Sitharaman, the nation’s trade agreements with UAE and Australia will pave the way for economic development.

At the stakeholders' outreach program on India-UAE CEPA and India-Australia ECTA here, Nirmala Sitharaman stated that awareness events about these agreements are taking place across the nations.

She also added that the Director-General of Foreign Trade (DGFT) has been instructed to translate the data of the trade agreements into Tamil and forward them to the media and stakeholders.

Tamil Nadu maintains a strong relationship with the leather industry that has been modernized, according to Sitharaman, as she proceeded to add that Tamil Nadu has been a leader in trade for a long time. Indian FM also addressed major UG giants about the ample opportunities of India..

She requested pioneers to be aware of the features of these agreements and utilize them in the best way.

“If there is any requirement or support in terms of agreement you want from us, you can ask for it freely”, she added.

Read more: https://www.emeriobanque.com/news/trade-pacts-with-uae-australia-will-fuel-economic-growth-indian-fm-sitharaman

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[reportwire]

GST Council: Stormy discussion around states' compensation likely today

GST Council: Stormy discussion around states’ compensation likely today

The all-powerful GST Council might see a stormy discussion around compensation payout to states, with Opposition-ruled states aggressively pushing for its continuation beyond the five-year period which ends on June 30. Some states ministers wrote to Finance Minister Nirmala Sitharaman on Tuesday seeking a change in the GST revenue distribution formula in case compensation to States is not…

[supernews]

Ensure quality power supply at reasonable rates to industries: FM to states

Union Finance Minister Nirmala Sitharaman on Tuesday appealed to states to build infrastructure and do "energy planning" thereby ensuring uninterrupted, quality supply of power is made available to industries at reasonable rates, enabling them to grow their businesses.

At an event here, she said the Centre would extend all its support to help states build the necessary infrastructure and this does not pertain to Tamil Nadu but also to others.

Referring to her budget announcement of allotting Rs 7.50 lakh crore to infrastructure sector in the country, she said it was comparatively higher to the Rs 5.50 lakh crore that was allotted last year.

"My appeal to states is that they should ensure electricity and it should be made available 24 hours, all 365 days at reasonable rates. Industries should get quality power...," she said

Sitharaman said every stakeholder should work towards ensuring uninterrupted power supply so that 'power shortage' does not occur since it poses as a major hurdle for the industry's growth.

The Finance Minister was speaking at the Stakeholder's Outreach Programme organised by Directorate General of Foreign Trade on the occasion of India signing a Comprehensive Economic Partnership Agreement with the United Arab Emirates and the Economic Cooperation Trade Agreement (ECTA) with Australia.

Read more

[sakshisahitya]

AP CM YS Jaganmohan Reddy had an impactful meeting with PM Modi, diving into crucial matters: medical colleges, Polavaram project, and food security act.

CM sought rice supply for financial relief, while connecting with HM Amit Shah and FM Nirmala Sitharaman. Urgent funds release for Polavaram Phase 1 and reimbursement of state expenses were emphasized. Let's hope for positive outcomes!

Picture courtesy: ANI NEWS

[jrakesh]

On which date budget is declared?

India. The Union Budget of India, referred to as the Annual Financial Statement in Article 112 of the Constitution of India, is the annual budget of the Republic of India, presented each year on the very first day of February by the Finance Minister of India in Parliament

Union Budget 2023: Where and when to watch FM Nirmala Sitharaman's speech LIVE. Finance Minister Nirmala Sitharaman will present the Union Budget 2023 on 1 February ( Wednesday) at 11 am. This will be Sitharaman's fifth straight budget for the fiscal year beginning April 1.01-Feb-2023

[aakashmalhotra]

Tax Budget Highlights 2024

Income tax budget 2024 highlights: The nation’s finance ministry Nirmala Sitharaman asserts that there won't be any major amends to India's direct tax system for FY 2024–2025, or starting on April1,2024, despite the fact that the Finance Act 2024 modifies several income-tax regulations, such as how agricultural revenue is treated.

Nirmala Sitharaman, the finance minister of India has made it clear that, as of April 1, 2024 (FY 25), there would be no more modifications made to the income tax system, either old or new. Therefore, due to this reason, both the previous and the new regimes are still subject to the income tax slabs specified in the Union Budget for 2023–2024.

Some key points of budget

It is significant to remember that adjustments made to the previous year's budget will take effect for the current fiscal year. However, some new budget highlights are as follows:

Nirmala Sitharaman, the finance minister, highlighted five "Disha Nirdashak" baatein: Implementing social justice as a viable government model involves prioritizing the underprivileged, women, youth, and farmers; focusing on infrastructure; employing the latest technology to enhance production; and establishing a high-power committee to address issues with demographic shifts.

India has achieved three years of continuous 7% GDP growth, making it the G20's most rapidly expanding economy.

GDP stands for Performance, Government, and Development. We have improved economic management and delivered on development. Despite extremely difficult circumstances, we are reducing the fiscal deficit.

The government's capital expenditure program will not end, FM said, and it will be continued.

The India, Middle East, European Corridor (IMEC) project will go ahead in spite of the Red Sea setbacks.

According to Revenue Secretary Sanjay Malhotra, the exchequer would pay less than ₹3,500 crore for the removal of 1.1 crore pending minor direct tax requests for certain years.

FM reaffirmed that there will be no extension of the reduced tax rate to new industrial units starting beyond March 2024.

According to Tuhin Kanta Pandey, secretary of DIPAM, there is no set goal for disinvestment in FY25.

We are not only aligning with the previously given fiscal consolidation path, but we are also overextending it, according to a message from Finance Minister Nirmala Sitharaman to credit rating agencies.

According to Finance Secretary TV Somanathan, the goal of bringing the Center's debt-to-GDP ratio down to 40% was established prior to the COVID-19 period and needs to be reexamined.

Highlights from Interim budget 2024

The 2024 budget key highlights are as follows:

Direct Tax Proposal

The FM declared that for direct taxes, the same tax rates would be maintained in FY 2024–2025. Taxpayers earning up to Rs. 7 lakh will not be required to pay any taxes under the new tax system.

Existing domestic enterprises will pay corporation taxes at a rate of 22%, while some newly established manufacturing companies would pay taxes at a rate of 15%.

The FM declared that throughout the past ten years, direct tax collections have more than tripled, while the number of return filers has increased by 2.4 times.

The FM has suggested extending the deadline for several tax breaks for start-ups and investments made by pension and sovereign wealth funds. Additionally, the proposal calls for an exemption from paying taxes on a certain type of investment for units of the IFSC that will expire on March 31, 2024. This has been extended to March 31, 2025.

Goods and Services

The FM declared that in FY24, the total collection of GST on average has increased to Rs. 1.66 lakh crore each month.

The Finance Minister has announced that the tariffs on imports and customs rates will remain the same for the fiscal year 2024-2025.

Empowering the Youth

Training has been provided to 1.4 crore youth through the Skill India Mission.

Encouraging young people's dreams of becoming entrepreneurs: 43 crore loans were approved under the PM Mudra Yojana.

An amount of Rs. 1 lakh crore has been set aside to provide tech-savvy young people with a 50-year, interest-free loan with minimal or no interest charges for financing or re-financing.

Infrastructure and Investment

The government aims to implement three primary railway corridors under PM Gati Shakti: port connection, high traffic density corridor, energy, minerals, and cement. This will reduce costs and improve logistics efficiency.

Trade agreements between the two parties will be used to encourage foreign investment.

The UDAN program is dedicated to the expansion of existing airports as well as the construction of new airports to improve air connectivity. This initiative is expected to boost the tourism industry and promote economic growth in various regions of the country.

Agriculture and Food Processing

The government is intended to foster both public and private investment in post-harvest operations.

All agroclimatic zones will see an expansion in the use of Nano-DAP.

It is necessary to have a comprehensive strategy for the development of dairy products.

The Pradhan Mantri Matsya Sampada Yojana will be executed with greater zeal in an effort to double exports, expand employment opportunities, and enhance aquaculture productivity.

Budget 2024 summary

The budget 2024 summary presents a comprehensive analysis of the nation's economic well-being and the government's strategic priorities. Though it may not contain any groundbreaking proposals, it offers valuable information and a glimpse into the country's financial stance and future direction.

Budgeting is a vital tool for individuals and corporations alike, as it helps identify and allocate resources in a planned and efficient manner. Creating a budget can establish clear financial goals and objectives and develop a comprehensive plan.

It also helps minimize unnecessary expenses and maximize the use of available resources. Understanding the purpose and benefits of budgeting can go a long way in ensuring financial stability and success.

[werindialive]

“I do not have that kind of money to contest…” FM Sitharaman on contesting Lok Sabha elections

In the latest revelation, Finance Minister Nirmala Sitharaman said that she had to decline the BJP’s offer to contest Lok Sabha elections as she does not have the required funds for the campaign.

She also revealed that BJP President JP Nadda offered her an option to contest either from Andhra Pradesh or Tamil Nadu.

FM Sitharaman was attending the TIMES NOW Summit 2024 when she said, "After thinking for a week or ten days, I went back to say, 'Maybe not'. I do not have that kind of money to contest. I also have a problem whether it is Andhra Pradesh or Tamil Nadu. It's also going to be a question of various other winnability criteria that they use... Are you from this community or are you from that religion? Are you from this? I said no, I do not think I am going to able to do it."

"I am very grateful they accepted my argument... So I am not contesting," she added.

She was asked why the Finance Minister of India does not have enough funds to fight the elections, she said that the consolidated funds of India do not belong to her.

"My salary, my earnings, and my savings are mine and not the Consolidated Fund of India," she said.

For the upcoming Lok Sabha elections, the BJP has fielded many of its Rajya Sabha members. The Lok Sabha elections are due on April 19. The Rajya Sabha members who would be contesting in the Lok Sabha elections this time include Piyush Goyal, Bhupender Yadav, Rajiv Chandrasekhar, Mansukh Mandaviya, and Jyotiraditya Scindia.

The FM said that she would support the campaigning for other members.

"I will attend a lot of media events and go with the candidates - like tomorrow I will be going for Rajiv Chandrasekhar's campaign. I'll be on the campaign trail," she added.

For more national and political news India in Hindi, subscribe to our newsletter.

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GST Benefits in Budget 2023 - Cheer to some | Mint Primer | Mint

North-eastern states have recorded a compounded annual GST revenue growth rate of 27.5% so far since the implementation of the GST as against 14.8% for all states, making them the biggest gainers of the new indirect tax regime. The north-eastern states have been the biggest beneficiaries of the five-year-old goods and services tax (GST) regime, according to the Reserve Bank of India (RBI) report on State Finances.

[krazyshoppy]

Bank Privatisation को लेकर आई बड़ी खबर, जल्द ये 2 बैंक होंगे प्राइवेट, जानें क्या बोले सचिव?

Bank Privatisation को लेकर आई बड़ी खबर, जल्द ये 2 बैंक होंगे प्राइवेट, जानें क्या बोले सचिव?

Bank Privatisation Latest News: बैंकों के निजीकरण (bank privatisation) को लेकर सरकार तेजी से काम कर रही है. वित्तमंत्री सीतारमण (FM nirmala sitharaman) ने कहा कि जल्द ही 2 और बैंकों का निजीकरण किया जाएगा. वित्तीय सेवा विभाग के सचिव संजय मल्होत्रा ने सोमवार को कहा कि बजट घोषणा के अनुरूप सार्वजनिक क्षेत्र के दो बैंकों के निजीकरण की दिशा में काम चल रहा है. वित्तमंत्री पटल पर दे चुकी हैं…

[theshillongtimes]

FM Sitharaman rebuts Congress charges on Atal Pension Yojana

New Delhi, March 26: Finance Minister Nirmala Sitharaman, in a strong rebuttal to Congress charges on the Atal Pension Yojana (APY) on Tuesday, described it as a scheme based on ‘best practice choice architecture’ and also underlined the fact that the APY subscribers are getting guaranteed 8 per cent return every year.

[babatax]

FM Sitharaman interacts with start-up and fintech ecosystem stakeholders

Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman chaired a meeting with Start-up and FinTech Ecosystem Entities, in New Delhi, on February 26, 2024. The meeting was also attended by Union Minister of State for FinanceDr Bhagwat Kishanrao Karad; Dr Vivek Joshi, Secretary, Department of Financial Services (DFS); Shri Rajesh Kumar Singh, Secretary, Department for Promotion of…

[batbricks7]

Paytm Crisis: One 97 Communication shares surge 9% after Vijay Shekhar meets FM Nirmala Sitharaman, RBI. . .

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