nirmala sitharaman

Nirmala Sitharaman is an Indian politician, currently serving as the Minister of Finance and Corporate Affairs of India. She was the first woman to be appointed as full-time Defence Minister of India and is now the second woman finance minister. She has earlier served as MoS Commerce and Industry (Independent charge) and handled the finance and corporate affairs portfolios as well. More

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  • SBI invites bids for sale of NPAs worth Rs 217 crore May 13, 2021 02:53 PM IST

    SBI invites bids for sale of NPAs worth Rs 217 crore

    The reserve price for the assets has been fixed at Rs 15 crores and Rs 27.5 crores for Khare and Tarkunde Infrastructure and Heavy Metal and Tubes respectively, indicating a total haircut of 80 percent.

  • GST exemptions on COVID-19 supplies: FM Nirmala Sitharaman’s response draws fault lines ahead of GST Council Meeting May 11, 2021 08:40 AM IST

    GST exemptions on COVID-19 supplies: FM Nirmala Sitharaman’s response draws fault lines ahead of GST Council Meeting

    West Bengal is the fourth state, after Punjab, Chhattisgarh and Delhi, to ask for GST relief on COVID-19 supplies. FM Sitharaman's response, that domestically made and commercially imported items may not be exempted, could become a potential flashpoint, which will require deft handling at the next Council meeting.

  • Exempting COVID vaccines from GST will be counterproductive, lead to price increase: FM Sitharaman tells Mamata Banerjee May 09, 2021 06:24 PM IST

    Exempting COVID vaccines from GST will be counterproductive, lead to price increase: FM Sitharaman tells Mamata Banerjee

    A 5 percent GST rate on vaccines ensures that the manufacturer is able to utilise the input tax credit (ITC) and in case of overflow of ITC, claim refund, Finance Minister Nirmala Sitharaman said, in response to a letter from West Bengal CM.

  • Centre may call GST meeting this month as states seek rate cuts on essential medical items May 04, 2021 07:28 PM IST

    Centre may call GST meeting this month as states seek rate cuts on essential medical items

    Many states, including Delhi, Punjab and Chhattisgarh, want GST to be exempted temporarily on devices such as ventilators, concentrators, and life-saving drugs like Remdesivir.

  • Chhattisgarh CM Bhupesh Baghel seeks Central relief for curb-hit SME sector May 03, 2021 10:55 PM IST

    Chhattisgarh CM Bhupesh Baghel seeks Central relief for curb-hit SME sector

    The CM has also requested that the deadline for the payment of principal and interest instalments against the business loan be extended by at least three months, official said.

  • Haryana Deputy CM Dushyant Chautala writes to Nirmala Sitharaman for GST exemption on oxygen concentrators May 03, 2021 08:58 AM IST

    Haryana Deputy CM Dushyant Chautala writes to Nirmala Sitharaman for GST exemption on oxygen concentrators

    In his letter, the Jannayak Janta Party leader, whose party is a coalition partner of the BJP in Haryana, conveyed his gratitude to the Government of India for slashing the Integrated GST rate on oxygen concentrators for personal use to 12 per cent, from 28 per cent earlier, for two months.

  • How India Inc is helping in battle against COVID-19 Apr 30, 2021 02:26 PM IST

    How India Inc is helping in battle against COVID-19

    India Inc has stepped forward to lend a helping hand as the country's COVID-19 case count continues to rise unabated and an acute shortage of medical oxygen keeps hospitals on the edge. Watch the video to know how industry majors and startups are helping to keep the supply chain moving and augment the availability of medical oxygen in different parts of the country.

  • New Finance Secretary TV Somanathan: An articulate economic voice trusted by the top leadership Apr 29, 2021 06:16 PM IST

    New Finance Secretary TV Somanathan: An articulate economic voice trusted by the top leadership

    Somanathan, Economic Affairs Secretary Ajay Seth, DFS Secretary Debashish Panda and DIPAM Secretary Tuhin Kanta Pandey are all from the 1987 batch of the Indian Administrative Service. But Somanathan had a higher rank in his batch, when he stood second in the All India exams. This is a deciding factor between officers of the same batch.

  • FISME writes to FinMin, demands action against raw material providers and revision in NPA norms Apr 29, 2021 02:43 PM IST

    FISME writes to FinMin, demands action against raw material providers and revision in NPA norms

    The woes of the MSME sector, facing a liquidity and supply crunch, shortage of labour and non-payment of dues forced by the pandemic-induced lockdown in 2020, continues

  • Retailers Association of India urges govt to extend ECLGS benefits to retailers Apr 28, 2021 06:02 PM IST

    Retailers Association of India urges govt to extend ECLGS benefits to retailers

    Putting forward a series of demands, RAI said around 80 percent of the retail stores are closed due to various restrictions across states and almost Rs 75,000 crore could turn NPA if urgent measures to ease the working capital challenges are not taken by the Reserve Bank and the Centre.

  • Finance Ministry relaxes spending norms to boost capital expenditure Apr 23, 2021 10:10 PM IST

    Finance Ministry relaxes spending norms to boost capital expenditure

    To enable ministries/departments expedite capital expenditure, it said, the cash management guidelines issued by the Ministry of Finance under the OM of 2017 have been relaxed.

  • Need complete trust between industry, govt to sustain growth amid COVID situation: Nirmala Sitharaman Apr 20, 2021 02:47 PM IST

    Need complete trust between industry, govt to sustain growth amid COVID situation: Nirmala Sitharaman

    Nirmala Sitharaman, addressing a seminar organised by the Merchants' Chamber of Commerce & Industry here, said the Centre has taken several steps to ensure that revival of the economy continues despite a raging second wave of the pandemic.

  • Govt working to save lives, livelihood: FM Nirmala Sitharaman tells India Inc amid COVID surge Apr 19, 2021 11:49 AM IST

    Govt working to save lives, livelihood: FM Nirmala Sitharaman tells India Inc amid COVID surge

    It is to be noted that the economy contracted by a whopping 23.9 per cent in the first quarter (April-June) of the previous financial year due to the outbreak of the COVID-19 pandemic.

  • Negotiations on India-EU trade deal to resume next month: FM Nirmala Sitharaman Apr 13, 2021 05:25 PM IST

    Negotiations on India-EU trade deal to resume next month: FM Nirmala Sitharaman

    The negotiations between India and the European Union on a free trade agreement have been stalled since May 2013, when both sides failed to bridge substantial gaps on crucial issues, including data security status for the IT sector. The negotiations with the 27-nation grouping were launched in June 2007.

  • India unlikely to go along with US' global minimum corporate tax proposal Apr 07, 2021 08:55 PM IST

    India unlikely to go along with US' global minimum corporate tax proposal

    The feeling in the government is that Yellen’s statement stems from the United States’ ‘one-shot’ approach to providing stimulus in face of the Covid-19 pandemic, which is opposed to India’s response, which has been more deliberate and has focused on the credit and fiscal side of things.

  • Major reshuffle in Finance Ministry as Tarun Bajaj shifted to Revenue Department; Bangalore Metro chief is new economic affairs secretary Apr 06, 2021 02:35 PM IST

    Major reshuffle in Finance Ministry as Tarun Bajaj shifted to Revenue Department; Bangalore Metro chief is new economic affairs secretary

    Ajai Seth’s appointment as economic affairs secretary raises questions as to who will be designated as the finance secretary. Seth, Expenditure Secretary TV Somanathan and DIPAM Secretary Tuhin Kanta Pandey are all from the 1987 batch.

  • Stand Up India scheme: Rs 25,586 crore sanctioned to ST, SC, women entrepreneurs Apr 05, 2021 09:50 AM IST

    Stand Up India scheme: Rs 25,586 crore sanctioned to ST, SC, women entrepreneurs

    The Stand Up India scheme was launched on April 5, 2016 to promote entrepreneurship at the grassroots level focusing on economic empowerment and job creation.

  • Explained | Why the government can’t wait to cut interest rates on small savings Apr 02, 2021 08:01 PM IST

    Explained | Why the government can’t wait to cut interest rates on small savings

    Hint: What a scheme pays out to subscribers as interest depends much on what the scheme earns.

  • Salary income of Indian workers in Gulf exempt from I-T, says FM Nirmala Sitharaman Apr 01, 2021 07:57 PM IST

    Salary income of Indian workers in Gulf exempt from I-T, says FM Nirmala Sitharaman

    Quoting a tweet of TMC MP Mahua Moitra, FM Nirmala Sitharaman clarified that the Finance Act 2021 has not brought in any new or additional tax on Indian workers in Saudi/UAE/Oman/Qatar.

  • Oversight, competent authority and other fine details of the flip-flop on small savings rate cuts Apr 01, 2021 07:20 PM IST

    Oversight, competent authority and other fine details of the flip-flop on small savings rate cuts

    Whose oversight was it anyway? What is the process followed by government departments in clearing crucial decisions?

  • Rate cut U-turn: Election states contribute nearly a fourth of total small savings schemes Apr 01, 2021 06:47 PM IST

    Rate cut U-turn: Election states contribute nearly a fourth of total small savings schemes

    West Bengal, Assam, Tamil Nadu and Kerala, where high-stakes electoral battles are underway, together contribute 23.9% in gross collections of national small savings, according to latest available data. Assembly elections give small savers a reprieve from interest rate cut.

  • Government withdraws small savings scheme rate cut Apr 01, 2021 08:10 AM IST

    Government withdraws small savings scheme rate cut

    Finance Minister Nirmala Sitharaman said the orders issued by oversight shall be withdrawn.

  • Next round of city gas bidding to cover over 300 districts: Satpal Garg, member of PNGRB Mar 31, 2021 01:22 PM IST

    Next round of city gas bidding to cover over 300 districts: Satpal Garg, member of PNGRB

    Regulator mulling introduction of substitution rights to lenders within the first five years. It enables them to replace the concessionaire with a different entity, subject to the approval of the concessioning authority

  • Air India will be 100% divested, choice is between disinvestment and closing down: Hardeep Singh Puri Mar 27, 2021 04:36 PM IST

    Air India will be 100% divested, choice is between disinvestment and closing down: Hardeep Singh Puri

    The civil aviation minister has confirmed that the government is determined and there is no hesitation in taking the disinvestment decision.

  • Parliament passes bill to set up National Bank for Financing Infrastructure and Development Mar 25, 2021 05:28 PM IST

    Parliament passes bill to set up National Bank for Financing Infrastructure and Development

    The bank will support the development of long-term non-recourse infrastructure financing in India, including development of the bonds and derivatives markets necessary for infrastructure financing and to carry on the business of financing infrastructure.

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