Page 5 - Finance Minister

We have courage to change: FM Nirmala Sitharaman on LTCG amendment

The original LTCG regime proposed on July 23 Budget, removed the indexation benefit, sparking concerns over real estate transactions

FM Sitharaman tables Appropriation (No 2) Bill 2024 in Rajya Sabha

Finance Minister Nirmala Sitharaman on Wednesday introduced the Appropriation (No 2) Bill 2024 in the Rajya Sabha which authorises certain sums out of the Consolidated Fund of India for services in 2024-25. Sitharamam also introduced the Jammu and Kashmir Appropriation (No.3) Bill, 2024 in the Upper House. The Lok Sabha passed the two legislations last week. Initiating the discussion on the bills, Digvijaya Singh of Congress stated that the focus of the government should be on reducing the disparity between rich and poor, tackling price rise and generating employment. Attacking the government, he said that for the last decade the government has just worked for the benefit of big corporations. He stated that household savings have come down in the country signalling that poverty is on the rise. He said that while price increase is there, earnings remain at the same level as was the case 10 years ago. "The number of billionaires has risen the most during the Modi government. Poor h

No need to keep minimum balance in Jan Dhan, basic savings accounts: FM

Finance Minister Nirmala Sitharaman on Tuesday said there is no need to maintain minimum balance in Jan Dhan as well as basic savings accounts, and banks impose penalties only in cases where customers fail to maintain a requisite amount in their accounts. The minister was replying to a question in Rajya Sabha during Question Hour regarding public sector banks collecting about Rs 8,500 crore in penalty from customers for non-maintenance of minimum balance in accounts in five years. "Since the member is talking about banks collecting money for basic minimum balance which is not there in the account, that does not apply to PM Jan Dhan accounts and basic accounts of the poor people. It is only for others whose minimum balance is expected to be at a certain level," Sitharaman said. It emerged in a written reply to a question in the Lok Sabha that public sector banks collected around Rs 8,500 crore under this head in five years starting FY 2019-20. Minister of State for Finance Pankaj ..

SFIO carrying out detailed probe into Sahara group companies: FM Sitharaman

The Serious Fraud Investigation Office (SFIO) is carrying out a detailed probe into the matter related to the Sahara group companies and further action will be taken after its report, Union Finance Minister Nirmala Sitharaman said in the Lok Sabha on Monday. To a query on why all investors of the Sahara group companies have not come forward to claim refunds, Sitharaman said the entire affairs of the Sahara group are being monitored by the Supreme Court and the government is acting as per the directives of the apex court. "It is true that only small investors have come forward to claim the refunds. The SFIO is investigating the entire matter. It is also looking into why all the investors have not come forward to claim the refunds and where are they," she said during Question Hour. The minister said after the detailed analysis of the SFIO the whole picture will be cleared and action could be taken. She said there were 3.7 crore investors in the Sahara group companies and so far 19,65

After 'derailment min' jibe, Vaishnaw says focus is on railways, not reels

Ashwini Vaishnaw's strong response came after Congress MP Gaurav Gogoi criticised him for not taking moral responsibility for train accidents and called him the 'derailment minister'

FM Nirmala Sitharaman stresses commitment to cooperative federalism

The FM said the Budget has struck a healthy balance between growth, employment, welfare spending and fiscal consolidation, and promotes cooperative federalism

Abolish tax on life, health insurance premiums: Gadkari writes to FM

Gadkari said in his letter that he is writing to the finance minister following a memorandum from the Nagpur Divisional Life Insurance Corporation Employees Union

Budget 'nudges' in the right directions

But much bolder and comprehensive reforms are needed

Conspiracy to damage India's image of safe investment destination: FM

To make India developed, Sitharaman said it was necessary to be a big economic and strategic power

Kerala seeks Rs 24,000 crore special financial package from Centre

Kerala has sought a Rs 24,000 crore special financial package from the Centre, Minister of State for Finance Pankaj Chaudhary said in a written reply in Rajya Sabha on Tuesday. He also said that Andhra Pradesh has sought Rs 15,000 crore for developing state capital Amravati and Rs 17,144.06 crore for various sectors, including Polavaram irrigation projects. In addition, he said Bihar has also requested for about Rs 785 crore for various projects. "A letter dated 27th June 2024 was received from the Finance Minister of Kerala in which the State Government of Kerala has requested for a special financial package of Rs 24,000 crore for the state," the minister said. In addition, a request for a special capital investment support of Rs 5,000 crore was also made for developing the Vizhinjam Port region in Kerala. Chaudhary further said request has also been received from Andhra Pradesh for financial support for various sectors, including Polavaram irrigation projects (Rs 17,144.06 crore

India has overcome after-effects of pandemic with capex push: FM Sitharaman

Nirmala Sitharaman said that not mentioning a state in the Budget speech does not mean that it will not be given any financial support, referring to the Opposition's charge on Bihar and Andhra

FM Nirmala Sitharaman to review RRBs' performance after Budget session

The RRBs were established in 1975 under the provisions of the Ordinance promulgated on September 26, 1975, and the Regional Rural Banks Act, 1976

UK's new finance minister accuses last govt of multi-bn pound 'cover-up'

On becoming finance minister, Reeves ordered officials to conduct a fresh assessment of public funding needs which she will present to Parliament on Monday

News updates: One dead after flooding in UPSC coaching centre basement, rescue operations underway

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CM Stalin attacks Centre, calls Union Budget a 'revenge' against country

Tamil Nadu Chief Minister M K Stalin on Saturday launched a sharp attack against the ruling BJP at the Centre over the 2024-25 Union Budget, calling it a 'revenge' taken by the saffron party against the country and warned it will face more electoral defeats since it was committing "mistake after mistake." Explaining his decision to boycott the Niti Aayog meeting scheduled in New Delhi under the Chairmanship of Prime Minister Narendra Modi on Saturday, Stalin said he was 'compelled' to speak in the people's forum, seeking justice due to the "discriminatory attitude" towards Tamil Nadu reflected in the budget. The state's pleas for disaster relief to the tune of Rs 37,000 crore and Chennai Metro Rail's second phase were not heeded to, he said in a statement. Further, the BJP runs "the government with political motive". "The budget presented on July 23 is evidence of this. In the recently held parliamentary elections, the people of various states defeated the anti-people BJP. The Budg

Open to feedback on tax changes but... read FinMin latest remark on Budget

Union Finance Minister Nirmala Sitharaman's recent remark follows feedback from several experts and salaried individuals who feel that the Budget did not provide sufficient relief to the middle class

Niti Aayog meeting faces boycott from opposition leaders over budget woes

Chief ministers from Tamil Nadu, Himachal Pradesh, Karnataka, Telangana, Punjab, Jharkhand, and Kerala will be skipping the Niti Aayog meeting

Union Budget 2024-25 serves a strategic blueprint for Viksit Bharat

The Budget underscores the importance of environmental sustainability

Budget frontlines: 'Agnipath' driving shift in spending patterns

The government says that going by the baseline of the Budget for FY24, the current allocation amounts to a 4.72 per cent rise over the previous year's allocation

Job schemes not a mandate, but a nudge to firms, says FM Sitharaman

The finance minister said the private sector shouldn't feel the pressure as it is not mandatory