Nirmala

Budget 2024: The Union Budget for the financial year 2024-25 is scheduled to be presented in the Lok Sabha on July 23

Finance Minister Nirmala Sitharaman on Monday said there is no proposal to relax the existing terms for borrowing capacity of state governments, including Kerala for 2023-24. Kerala has requested the Centre to allow an additional borrowing equivalent to one per cent of Gross State Domestic Product (GSDP) over and above the borrowing ceiling fixed for 2023-24 fiscal year. In a reply in the Lok Sabha, Sitharaman said the Centre applies a common yardstick while fixing the annual borrowing limit of all state governments under Article 293(3) of the Constitution. In doing so, it is guided by the recommendations of the Finance Commission, she said. To a question on whether the Centre proposes to relax the existing borrowing terms considering the financial crisis of Kerala, Sitharaman replied in the negative. For current fiscal year, the gross borrowing ceiling of Kerala has been fixed at Rs 47,762.58 crore. Out of this, Rs 29,136.71 crore is Open Market Borrowing (OMB) while the rest is

Union Finance Minister Nirmala Sithraman, who cast her vote for Karnataka Assembly polls on Wednesday, expressed confidence about BJP coming back to power in the state with full majority and criticised the Congress over inflation during UPA rule. On the issue of rising inflation, the Union minister said she and the BJP government stand with the people and want the prices to come down. Contending that the BJP government is making efforts to control price rise, she hit out at the Congress saying that it doesn't have any right to criticise the Centre on the issue as inflation was constantly high during its tenure. "You are watching for yourself the situation here, senior citizens, youth, women have come with families and are peacefully standing in queues to cast their votes, and looking at the way in which they interacted with me it is clear to me that BJP will come back victorious with full majority," Sitharaman told reporters here after voting. To a question on the foremost issues on

Speaking at a press briefing in Washington on Thursday, Union Finance Minister Nirmala Sitharaman said that the third pillar will now have to be sustainable goals and other climate-related objectives, climate funding, and so forth.Underlining how India's presidency has brought attention to the necessity to incorporate these factors while still being compatible with World Bank objectives and not merely balancing on them, Sitharaman said that New Delhi from its presidency very clearly highlighted that it's going to be how a perfect balance is traced the developmental goals and climate finance.Addressing the media queries, Sitharaman also highlighted the post-pandemic development requirements and laid emphasis on how the focus should lie on them, solely."Not just development funding for low-income countries, post-pandemic development requirements becoming lot more focussed. We're also highlighting core 2 things for World Bank - extreme poverty alleviation & bringing prosperity post

The plant-based meat market in India is likely to touch $500 million in three years, according to analysts.

States will demand an extension of the compensation period or a change in the GST revenue distribution formula

Union Minister Nirmala Sitharaman today expressed the hope that Budget 2016-17, to be present next week, will allocate required funds for Start-up India programme. She said her ministry, Commerce and Industry, will do its best to solve the financial difficulties being faced by start-ups. Speaking on the "role of Centre through Start-up India initiative" at a programme here, the minister said "the government, I am sure, will be a lot more flexible in dealing with issues raised by start-ups and we are not just looking at tech-based or application-based start-ups". She added: "With the kind of start-ups and the kind of activity generated, India was ranked third globally and this cannot happen unless there was ground swell for it and youth are already at it." Stating that she would rather put a lot of energy in pure science related matters, health, space and defense, Sitharaman said she saw everything going in favour of Coimbatore to be the start-up capital. "You .