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
Nirmala Sitharaman has a very different personality, knowledge endowment, skill-set and approach for economic policy issues and it became quite apparent very early, that working with her was going to be quite difficult, the former finance secretary wrote in a blog
Finance Minister Nirmala Sitharaman said India and the UK have joint investment of up to 8 million pounds between their departments of biotechnology for research into factors leading to severity of the novel coronavirus
Speaking at the India Energy Forum of CERAWeek, Finance Minister Nirmala Sitharaman said infrastructure, fintech and all employment generating and asset creating industries would be priority sectors for the government.
Referring to the Nikkei Manufacturing Purchasing Manager's Index, Sitharaman said economic activity had picked up in the country after the easing of pandemic restrictions and helped by various government measures.
The fourth set of stimulus measures could include an infrastructure push with focus on urban projects, sectoral intervention for sectors like hospitality and tourism, and extension of the PLI scheme to more sectors
The fresh stimulus may also include cash transfers to 20 crore Jan Dhan accounts and 3 crore poor senior citizens, poor widows and other groups that were part of the Pradhan Mantri Garib Kalyan Yojana.
"Is it not intriguing that @DasShaktikanta, the SEBI Chairman and the DEA Secretary should speak on the same day on the same subject?" the former finance minister said. All three have tried to "talk up" the economy, Chidambaram said.
Many, including the Congress and the AAP, have slammed Sitharaman's poll promise saying the BJP government is politicising a necessity like the COVID vaccination at the time of a pandemic
Finance Minister Nirmala Sitharaman also said the Centre would come out with fresh growth and budgetary estimates for the COVID-19 pandemic-hit 2020-21.
Banking and insurance will be designated as 'strategic sectors', sources told Moneycontrol. Over the long run, the Centre will have only four PSUs in strategic sectors and exit the 'non-strategic sectors' completely
Nirmala Sitharaman held a virtual meeting with secretaries of coal and petroleum & natural gas, along with the chairman and managing directors (CMDs) of 14 CPSEs belonging to these ministries, an official statement said.
It will be the third Budget of the Modi 2.0 government and Finance Minister Nirmala Sitharaman. Budget 2021-22 is likely to be presented on February 1.
"Additional borrowing permission has been granted at 0.5 percent of the Gross State Domestic Product (GSDP) to those states who have opted for option 1 out of the two options suggested by the Ministry of Finance to meet the shortfall arising out of the Goods & Services Tax (GST) implementation," the government said
Sitharaman announced a slew of measures to stimulate consumer demand and offer capital support to states. These included LTC Cash Voucher Scheme, Special Festival Advance Scheme and a Rs 12,000 crore interest-free 50-year loan to states.
Watch the video to find out what transpired at the third straight GST Council meeting on compensation cess
Increased borrowing costs is not something that the government can afford at a time when India is looking at more money to invest and to borrow to do business, says Finance Minister Nirmala Sitharaman.
The government in May had increased its market borrowing programme for the current financial year by more than 50 percent to Rs 12 lakh crore to meet the increased spending due to the COVID-19 pandemic.
To encourage spending to spur demand, Finance Minister Nirmala Sitharaman has announced an LTC cash voucher scheme and a special festival advance scheme for employees.
FM Nirmala Sitharaman introduced proposals to stimulate consumer spending
The government also announced an additional budget of Rs 25,000 crore, which would be provided for capital expenditure of Centre on roads, defence, infrastructure, water supply, urban development and domestically produced capital equipment
Under this LTC Cash Voucher Scheme, government employees can opt to receive cash amounting to leave encashment, plus three times ticket fare, to buy items which attract a GST of 12 percent or more.
Central government payout on cash-in-lieu-for-LTC will be Rs 5,675 crore and Rs 1,900 crore for PSUs and banks, says FM Sitharaman.
The government is rolling out the ‘big guns’ including Defence Minister and the Bharatiya Janata Party’s farmer face Rajnath Singh, Finance Minister Nirmala Sitharaman, Agriculture Minister Narendra Singh Tomar and Minister of State for Finance Anurag Thakur,
Sitharaman said that under "certain other governments" the focus was only on giving and increasing MSP for paddy and wheat and they did not 'bother' about other crops.
Financial Services Secretary Debashish Panda, who also participated in the launch event through video conferencing, delved on the various initiatives taken by the government to support MSMEs.