Finance Minister Nirmala Sitharaman on April 13 ruled out the possibilities of a nationwide complete lockdown. In a meeting with World Bank Group president David Malpass, Sitharaman stated, "We don't want to totally arrest the economy... There shall not be lockdown." Measures would be taken at only local level to control COVID-19 cases, she added. Besides, she lauded the efforts of the World Bank for ensuring increased availability of funds… read-more
Courtesy: Hindustan Times
Union Finance Minister Nirmala Sitharaman on April 1 announced the roll back of recent orders related to the slashing of interest rates on small saving schemes. Taking to Twitter, the FinMin stated that "the rates which existed in the last quarter of 2020-21" shall be continued. Earlier, on March 31, the government had slashed the interest rates on small schemes, including PPF and NSC, by up to 1.1%.
Courtesy: Hindustan Times
Finance Minister Nirmala Sitharaman, on March 26, released the BJP's manifesto for Puducherry Assembly Elections. Pointedly women-centric, the manifesto vows loan waivers and interest-free credit for self-help groups, 50% reservation in government institutions, free KG education and public transportation, besides accessible healthcare. Additionally, the manifesto, addressing education, employment and tourism, promised a separate school… read-more
Courtesy: The Hindu
The Centre has increased the deposit threshold limit of provident fund from Rs 2.5 lakh to Rs 5 lakh on March 23. Reportedly, the interest received on the newly exceeded amount would also be tax-exempt. However, the tax exemption can only be enjoyed by only those individuals who do not contribute to the retirement fund. Earlier, the FinMin Nirmala Sitharaman, during budge, vowed to tax individuals for contributions over Rs 2.5 lakh.
Fulfilling this year's budget proposal, the Lok Sabha on March 22 passed the 'Insurance Amendment Bill 2021.' Reportedly, the Bill provisions to increase the FDI limit in the insurance sector to 74% from the earlier 49%. Moreover, it legislated to ensure that key management positions including the board of directors should be Indians with at least 50% directors as Indians. Strengthening ‘Indian Management Control’, the law provides Indian… read-more
Courtesy: Money Control
Finance Minister Nirmala Sitharaman on March 20 stated the government will look for alternative sources of crude oil supply. She said the new chains will ensure a sustained fuel procurement. However, the minister assured that it will not affect the fuel prices in the nation. Meanwhile, both the Centre and State governments will deliberate on the impact of rising fuel prices, She added. Besides, Sitharaman informed, food inflation was being… read-more
Finance Minister Nirmala Sitharaman on March 5 lashed out at US-based 'Freedom House' for demoting India in freedom index and publishing wrong Indian map. Sitharaman said, "How do I take you seriously when you don't have our map right and comment on matters so intrinsic as freedom in country like India." Earlier, the Information and Broadcasting Ministry also rejected the "Democracy Under Siege" report which had downgraded India from "free"… read-more
Courtesy: The Tribune
The scrappage policy to be launched by the Union Transport ministry is likely to include commercial vehicles in the first stage. The Ministry plans to cap the life of commercial vehicles at 15 years and private vehicles at 20 years. Reportedly, the vehicles failing to pass the fitness tests will have to go off-road and would be deregistered. The policy was announced by Finance Minister Nirmala Sitharaman during the Union budget.
Courtesy: The Print
Announcing the Union Budget 2021-22, Finance Minister Nirmala Sitharaman gave a preference to poll-bound states -Kerala, Assam, and West Bengal. Eyeing assembly elections, Minister Sithraman allocated Rs 65,000 crore for roads and highways in Kerala. Moreover, for road and infrastructure development in West Bengal and Assam, the Finance Minister has allocated Rs 25,000 crore and Rs 3,400 crore respectively. The polls in West Bengal and Kerala… read-more
Courtesy: The Indian Express
A group of influential figures from the film industry, including BJP MP Sunny Deol, met Finance Minister Nirmala Sitharam on January 23, ahead of the budget session on February 1. The team explained the problems and appealed to consider relief measures towards the pandemic-hit film industry. The meeting was led by the joint Managing director of PVR Pictures Sanjay Kumar Bijli. Reportedly, the Minister has assured to "certainly consider the… read-more
Courtesy: Times Now