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CBDT to link field officers' annual appraisals, postings with 'Vivad se Vishwas' mop-ups

An office memorandum from the CBDT, dated February 21, said that collection outcomes would play a bigger role in the future postings of the field officers. The latest missive assumes significance as there have been concerns over alleged 'tax terrorism' and undue harassment of genuine taxpayers by tax officials. The economic growth is also slowing down.

Sundaram Mutual waives off exit load on redemptions in its schemes

No exit load would be charged, if up to 25 per cent of the units are redeemed or withdrawn by way of SWP within 365 days from the date of allotment.

BPCL valuation high, evaluating bid: Anil Agarwal, Vedanta

"We certainly are interested in bidding but the valuations are too high," mining baron Anil Agarwal said. "The bid document is not yet out and we will carefully evaluate bidding once the offer document is out." He said share price has moved up 40-50 per cent since the time the government announced its plan to sell stake in November last year.

Government's total receipts at Rs 12.82 lakh cr in April-January

The Government of India has received Rs 12,82,857 crore up to January 2020. Tax revenue stood at Rs 9,98,037 crore, while non-tax revenue stood at Rs 2,52,083 crore. Non-debt capital receipts stood at Rs 32,737 crore, which includes Rs 18,351 crore of disinvestment proceeds.

IBC improves business climate by allowing easier exit: Nirmala Sitharaman

FM said IBC has created a set of professionals who help, advise and also show the path through which businesses can exit if situations are adverse.

Making sense of India's growth in the times of Coronavirus

For FY20, GDP is now estimated to grow by a decade’s low of 5%.

Govt loosened purse strings with fiscal deficit in mind, willing to do more: FM

Sitharaman said the govt is mulling creating a Development Finance Institution to help fund the Rs 102-lakh crore infrastructure funding, but hinted at a larger reliance on the private sector in doing so. The govt has utilised a clause under the fiscal deficit and budget management Act to have a wider fiscal gap of 3.8 per cent in FY20 and has committed to narrow it to 3.5 per cent in the FY21 budget.

With Q3 GDP growth at 4.7%, FM says 'steadiness' in economy is a good sign

The FM said "steadiness" in economy is a good sign, soon after the official data showed Q3 GDP at 4.7%.

April-January fiscal deficit reaches 128.5% of Rs 7.67 lakh crore revised FY20 target

The fiscal deficit is the shortfall in a government's income compared with its spending. It essentially means that the government is spending beyond its means. The government aims to restrict the gap at 3.3 per cent of the GDP or Rs 7,03,760 crore in the year ending March 2020.

Measures taken by Indian government will boost economic growth: SBI MD Dinesh Khara

Slowdown in the Indian economy has bottomed out and measures taken by the government in the recent budget to improve capacity to spend in rural sector, infrastructure creation and inviting foreign investments will boost growth, State Bank of India Managing Director Dinesh Khara has said.

Sovereign wealth funds look at infrastructure sector

Nirmala Sitharaman in her Budget speech had offered incentives for sovereign wealth funds of foreign governments in the priority sectors. The government said it will grant 100% tax exemption to their interest, dividend and capital gains income on investment made in infrastructure and other 36 notified sectors before March 2024 and with a minimum lock-in period of 3 years.

AIF hopes to unlock Rs 26,000 Cr stuck in stalled housing projects

The alternative investment fund is taking multiple steps so that it has complete control of the disbursement and the end use of the funds. This is to ensure that there is no diversion of funds. The fund appoints a project management company and quantity surveyors to keep a track of site-level expenses.

While trade war between US & China escalated, couldn't have waited to slash corporate tax: Nirmala Sitharaman

FM Sitharaman had in September announced corporate tax rate cut from an effective 35% (including surcharges and cesses) to an effective 25.17% while the rate for new manufacturing companies reduced to 15% from 25%.

FM Nirmala Sitharaman’s onion faux pas: Here’s what she said in Parliament

Speaking in Lok Sabha, the Finance Minister yesterday said that she doesn't eat much of onion or garlic and hails from a family where these two vegetables are not much in use. Under attack for her comment in Parliament Union Finance Minister Nirmala Sitharaman on Thursday said that her remark was taken "out of context."FM Nirmala Sitharaman’s onion faux pas: Here’s what she said in Parliament

Govt asks banks to clear 1.18 lakh pending PMEGP loan applications by Mar 15

The government has asked banks to clear by March 15 about 1.18 lakh pending loan applications under the Prime Minister Employment Generation Programme (PMEGP), which promotes self-employment through setting up of micro enterprises.

Ikea not to pass on duty hike impact on imported furniture to customers

In the Union Budget 2020 announced on February 1, Finance Minister Nirmala Sitharaman announced to increase customs duty on imported furniture from the present 20 per cent to 25 per cent. The move was aimed to protect the interest of the MSME segment. Ikea opened its first store in the country in Hyderabad in August 2018.

India's GDP seen growing at 4.7% YoY in December quarter, with virus impact to come

Economy will fare slightly better in the Dec quarter, before suffering a relapse due to the impact of coronavirus.

Nirmala Sitharaman asks govt departments to pay dues on time

Expenditure secretary said the ministries have reached 50% of their spending till now.

Better demand, higher growth likely in second half of this fiscal: Nirmala Sitharaman

FM says enough liquidity, credit demand after meeting heads of private sector banks, other financial institutions.

Finance minister Nirmala Sitharaman to meet infra secretaries, PSU heads

The meeting with secretaries to the ministries is scheduled for Friday, while heads of PSEs will meet her on Saturday, sources told ET.

Bank ATMs start dispensing more of Rs 500 notes instead of Rs 2,000

Banks have started dispensing more of Rs 500 notes than Rs 2,000 denomination notes, a move seen as gradual phasing out of the high denomination currency note.

Banks, NBFCs, MFIs not facing liquidity issues: Nirmala Sitharaman

Sitharaman assured that the small finance banks were on a smooth path.

Govt closely monitoring coronavirus impact on economy: FM Sitharaman

Finance Minister Nirmala Sitharman on Wednesday said the government is keeping a close watch on the impact of the coronavirus outbreak on the Indian economy.

Proposed LIC IPO to benefit insurance industry: Fitch

Fitch said it expects that the initial public offering (IPO), once executed, may also encourage some of the other private sector insurance companies to list some of their shares in the stock market over the medium term.

Cube Highways plans InvIT to sell a part of its road assets

The move comes after the government removed the tax barrier for private placement of InvITs in the budget, putting them at par with publicly listed ones. Cube will hive off its operating assets into an infrastructure investment trust or InvIT and place it privately with other investors, said three people with direct knowledge of the development.

Yes to business, no to free rides: Amit Shah, Nirmala Sitharaman & Piyush Goyal at ET Awards 2019

Many indicators on the ground show that things should start to improve from this quarter, say ministers even as they express willingness to address structural issues to attract investment, but not at the cost of domestic retail.

HUL to set up subsidiary to save on tax

The new subsidiary, which has an authorised capital of Rs 2,000 crore, has been formed to leverage on enablers, including corporate tax as well as ‘Make in India’ initiative, said the company.

12 global companies evinced interest to shift base from China to India: Nirmala Sitharaman

Finance Minister Nirmala Sitharaman on Saturday said about 12 global companies have evinced interest to shift their base from China to India, taking advantage of competitive tax rate of 15 per cent announced recently.

Expect no slump in govt spends: Finance minister Nirmala Sitharaman

Two days after announcing sweeping corporate tax reforms, FM says lower rates here to stay.

E-payments industry counts the costs after zero MDR jolt

From the growth of UPI payments, it’s clear more users are embracing this instrument. But with a billion transactions a month being recorded now, the failure rate — when the payment is not completed — is also increasing. In absence of revenue, banks and apps may not invest funds to upgrade the infrastructure, fear industry experts.

Papers show Netas not kept in loop on ending disability benefits for soldiers

The withdrawal of tax exemptions, which impacted lakhs of retired soldiers, was triggered by officers of the defence ministry’s finance wing who did not have jurisdiction over the matter. Papers show that neither defence minister Rajnath Singh nor finance minister Nirmala Sitharaman were kept in the loop when the decision was taken.

Anand Mahindra comes to Nirmala Sitharaman's defence, shuts trolls

Mahindra, who is in the US right now, also praised Sitharaman for reducing corporate tax and said the country has sent an invitation letter to global investors by taking the step.

No rethink on overseas sovereign bond issue: Nirmala Sitharaman

There have been reports that the Rashtriya Swayamsevak Sangh and the Swadeshi Jagran Manch have expressed reservations on the decision.

Nirmala Sitharaman’s latest stimulus brings cheers but industry expects more

The new measures are in line with a series of steps being taken by the NDA-II to arrest the slowing pace of economic activity witnessed across sectors.

Nirmala Sitharaman seeks Parliament nod for additional spending of Rs 21,246 crore

The Finance Minister sought Parliament nod for additional spending of Rs 21,246.16 crore, including over Rs 8,820 crore for the newly formed union territories of Jammu and Kashmir and Ladakh, in the first batch of supplementary demands. Of this, the net cash outgo will be Rs 18,995.51 crore, she said in the statement tabled in the Lok Sabha here.

Nirmala Sitharaman is 100% right: Maruti's Bhargava joins the millennial debate

The main issue to Bhargava's mind is of a structural kind — cars are not affordable for common buyer anymore.

'I’ve been working' on the economy, Nirmala Sitharaman tweets after criticism

FM justified her presence at the event that had given rise to speculation about more steps to support growth.

Growth may have come down but its not a recession, says Nirmala Sitharaman in Rajya Sabha

Replying to a debate in the Federal chamber, Finance Minister Nirmala Sitharaman put forward a number of macro-economic data comparing period between UPA-2(2009-2014) and NDA-1(2014-2019). Presenting the figures, she reminded the opposition that the economic recovery is as much based on perception as it is based on governmental intervention.Growth may have come down but its not a recession, says Nirmala Sitharaman in Rajya Sabha

'Vivad se Vishwas' scheme: Cases in arbitration abroad eligible, says I-T dept

The I-T department issued advertisements in leading dailies saying the scheme was a "golden opportunity... to settle income tax disputes" and bridge trust deficit. The public message spells out the main features of the scheme proposed by Union finance minister Nirmala Sitharaman in her Budget speech on February 1

Govt to seek NPA relief for companies hit by coronavirus

The move follows a petition from some industry representatives to finance minister Nirmala Sitharaman to not just relax the norms but also ensure access to funds to tide over payment issues that may arise due to problems in accessing inputs and critical raw material.

Cabinet approves ban on sale, production of e-cigarettes: FM Nirmala Sitharaman

India announced on Wednesday a ban on the sale of electronic cigarettes, as a backlash gathers pace worldwide due to health concerns about a product promoted as less harmful than smoking tobacco. "The decision was made keeping in mind the impact that e-cigarettes have on the youth of today," Finance Minister Nirmala Sitharaman told reporters in New Delhi.Cabinet approves ban on sale, production of e-cigarettes: FM Nirmala Sitharaman

Nirmala Sitharaman asks taxmen to deal firmly with evaders

Niramla Sitharaman said that efforts should be made to increase the tax base from 8 crore currently as desired by Prime Minister Narendra Modi.

RBI in discussion with institutions; efforts on to include G-Secs in global indices soon: Das

This was a long-pending suggestion of foreign investors that was addressed in Budget this year.

Finance Minister Nirmala Sitharaman introduces Bill in Lok Sabha to cut corporate tax

The Taxation Laws (Amendment) Bill, 2019 will replace the Taxation Laws (Amendment) Ordinance, 2019, promulgated on September 20, 2019, to cut the base corporate tax rate to 22 per cent from 30 per cent. Also, the International Financial Services Centres (IFSCs) Authority Bill, 2019, that provides for creation of a unified financial regulator for IFSCs was introduced.

Budget 2020 was a missed opportunity: Kantar Frrole report

More than half the consumers surveyed felt they are worse off financially since the past 12 months, a two-fold jump from a year ago in the number of such consumers. Also, about 48% housewives and 53% chief wage earners showed heightened concerns about their economic well being.

Industry is in a bad shape, but Airtel was always safe: Mittal

The reassuring words from one of the country’s most-experienced telecom executives comes amid heightened concerns over the ability of mobile companies, including Vodafone Idea and Airtel, to tide over the financial mess as they scramble to pay the government Rs 1.47 lakh crore, as ordered by the top court in the October 24 AGR judgment.

Covid-19 impact: Govt won’t penalise companies hit by supply shortages

The memo, issued by the department of expenditure under finance ministry, advised ministries that “disruption of supply chain due to spread of Covid-19 in China, or any other country, would be considered as a case of natural calamity and force majeure clause may be invoked in appropriate cases”.

PM-Kisan Scheme benefits not reaching tillers: RBI directors

The members of the board of Reserve Bank of India (RBI) have drawn finance minister Nirmala Sitharaman’s attention to the inefficacy of the government’s PM-Kisan Scheme and the plight of housing finance companies (HFCs) during their interaction with her last week.

Nirmala Sitharaman's booster shot for real estate sector: Key takeaways

Can Saturday's measures, along with the ones announced earlier, provide a real and tangible solution to Indian realty problems like stalled projects, funding crunch faced by developers and homebuyer stress? ET's Kailash Babar has more. (Text: PTI/ET Online)Nirmala Sitharaman's booster shot for real estate sector: Key takeaways

Nirmala Sitharaman announces new measures to boost India exports: Watch highlights

Finance Minister Nirmala Sitharaman Saturday introduced RoDTEP - Remission Of Duties for Export Products - to replace the existing Merchandise Export From India (MEIS). Revenue foregone as a result of RoDTEP implementation would be Rs 50,000 crore, she said. Sitharaman also announced interest equalisation for MSMEs to 5 per cent from 3 per cent. She said for small procedural defaults, small tax payers would not be prosecuted. The minister added that all communications with assesses will be through technology or complete faceless dealings. Listen-in. (Text: IANS)Nirmala Sitharaman announces new measures to boost India exports: Watch highlights

Rs 10,000 cr to boost affordable housing: FM Nirmala Sitharaman

Finance Minister Nirmala Sitharaman has announced a Rs 10,000 cr special window to boost affordable housing. The contributions to the fund will be sourced from the Govt, LIC, Banks and sovereign funds. Watch full report by ET NOW's Ruchi BhatiaRs 10,000 cr to boost affordable housing: FM Nirmala Sitharaman

Nirmala Sitharaman presser: 'Inflation under control, revival signs in factory output'

Finance Minister Nirmala Sitharaman Saturday said inflation is under control and there is a clear sign of revival of industrial production. Addressing the third press conference to announce measures to boost economy, the minister said inflation has been kept "very much" below 4 per cent. Listen-in. (Text: PTI)Nirmala Sitharaman presser: 'Inflation under control, revival signs in factory output'

Inflation under control, clear signs of revival in factory output: Nirmala Sitharaman

The minister said the steps announced to increase credit flow to NBFCs, including the partial credit guarantee scheme, has started showing results.

Revival signs in industrial production, fixed investment: FM Nirmala Sitharaman

Finance Minister Nirmala Sitharaman on Saturday said there are clear signs of revival of industrial production and fixed investment after economic growth plunged to a six-year low. At a press conference called to announce the third part of the stimulus package for the economy, she said measures are being taken to improve credit outflow from banks.Revival signs in industrial production, fixed investment: FM Nirmala Sitharaman

Revival signs in industrial production, fixed investment: FM Nirmala Sitharaman

Finance Minister Nirmala Sitharaman on Saturday said there are clear signs of revival of industrial production and fixed investment after economic growth plunged to a six-year low. At a press conference called to announce the third part of the stimulus package for the economy, she said measures are being taken to improve credit outflow from banks.Revival signs in industrial production, fixed investment: FM Nirmala Sitharaman

Small tax payers with minor procedural default will not be prosecuted: FM Nirmala Sitharaman

Small tax payers with minor procedural default will not be prosecuted: FM Nirmala Sitharaman, while addressing the media. Small tax payers with minor procedural default will not be prosecuted: FM Nirmala Sitharaman

Centre not imposing Hindi in Tamil Nadu: Nirmala Sitharaman

Zero Budget Farming involves total lack of dependence on chemicals and fertilizers and using natural ingredients including herbs in the farming process.

AGR crisis: Mittal, Birla meet FM Sitharaman; Govt mulls telecom fund

With the Supreme Court-mandated liability pushing telecom companies to the brink, industry honchos Sunil Bharti Mittal and Kumar Mangalam Birla on Wednesday met Finance Minister Nirmala Sitharaman as their firms scrambled to meet payment deadlines. While the two refused to comment on discussions they had with Sitharaman, Mittal said the telecom sector has been under stress for the last three-and-a-half years and the government should focus on its sustainability. Govt is mulling a telecom fund to give soft loans to telcos. The fund according to sources, will be set up with the AGR dues paid by the telcos to the govt. Here's the full report by ET NOW's Nayantara Rai. Watch.AGR crisis: Mittal, Birla meet FM Sitharaman; Govt mulls telecom fund

To deal with coronavirus outbreak, companies seek easier labour norms, faster green approval

These were some of the measures suggested by the representatives of India Inc in a meeting on Tuesday with the FM to address concerns regarding supply disruption caused by the coronavirus outbreak in China. At the meeting, the quarantine period as well as the paperwork for goods being shipped into the country was also flagged.

FinMin pins hope on global pension funds to buy into India’s infra play

Global pension funds with $40 trillion of assets under management will now look at India’s infrastructure sector more favourably because of the elimination of dividend distribution tax (DDT), senior officials in the finance ministry said.

Coronavirus outbreak: Govt reviews impact, to soon announce measures, says FM Sitharaman

The government will soon announce measures to deal with the impact of Coronavirus outbreak on the domestic industry, Finance Minister Nirmala Sitharaman said on Tuesday. The minister was addressing media after meeting representatives of the industry to review the situation following the outbreak of the deadly virus in China. Sitharaman said she would hold a meeting with the secretaires of different ministries tomorrow and then announce steps to deal with the situation in consultation with the Prime Minister's Office.Coronavirus outbreak: Govt reviews impact, to soon announce measures, says FM Sitharaman

Will better safety help smaller banks wean depositors away from MFs?

Budget proposed to raise the insurance cover on bank deposits to Rs 5 lakh from Rs 1 lakh.

Finance Minister to meet industrialists, trade associations to asses COVID-19 impact

Finance Minister Nirmala Sitharaman is set to meet industry and trade associations in New Delhi to assess the impact of coronavirus disease 19 (COVID-19) on Indian trade and industry. The viral outbreak comes at a time when the Indian economy is going through a difficult phase and the virus outbreak could make the slowdown worse.

ESOPs rising post Budget as startups do the math

Employees at young startups now have the option of deferring ESOP tax payments.

ESOP tax sops not for all startups on DPIIT list, says CBDT

In her budget speech on February 1, Finance minister Nirmala Sitharaman had announced that employees at startups exempt under Section 80-IAC could defer paying income tax on stock options for a period of five years or until they quit the company or sell their shares.

Coronovirus: CII says Government should set up joint task force to gauge impact

The government should consider setting up a joint task force with the industry to check the economic spillover of the Covid-19 outbreak in China, the Confederation of Indian Industries (CII) has said.

Waiting for DoT’s position on AGR dues: Sitharaman

Finance minister Nirmala Sitharaman said on Monday she would wait to hear the telecom ministry’s stance on the arrears from telecom operators, before expressing her views on the issue.

A dip in GDP is part of growth process: Finance Minister Nirmala Sitharaman

"Govt is conscious that it has to respond and will try to frontload infra spending as much as possible," finance minister said.

Cabinet approves import of 1.2 lakh tonnes onion: Finance Minister Nirmala Sitharaman

The move comes after the government's various efforts to boost the domestic availability failed to cool down the retail prices significantly. Retail prices of onions are continuing to rule above Rs 60/kg in Delhi. Onion prices have come under pressure due to 26 per cent fall in the production to 52.06 lakh tonnes during the kharif output late-kharif seasons of 2019-20.

RBI Guv: Govt must continue reforms; green shoots of recovery need to sustain

While Finance Minister Nirmala Sitharaman's Budget for 2020-21 and recent steps have created a facilitating eco-system for reviving demand and consumption through a push on infrastructure projects, it is necessary to undertake land and labour reforms, bring efficiencies in agri marketing and focus on skill development, the RBI governor said.

Finance Ministry to assess impact of coronavirus outbreak on trade

"On the impact of coronavirus outbreak and any disruptions to Make in India or to Indian export/import, Finanace Ministry is scheduled to hold a meeting on Tuesday 18 Feb. Stakeholders are welcome." Union Finance Minister Nirmala Sitharaman tweeted on Sunday.

ET Awards 2019: Nirmala Sitharaman and Piyush Goyal to address powerpacked industry audience

From revival measures to RCEP, from tax changes to trading rules for eCommerce, Sitharaman & Goyal are two ministers in the Modi cabinet whose decisions have made headlines and impacted bottom lines. In less than a fortnight, business leaders will get the opportunity to listen to these two policymakers, who directly influence the country's policy changes.

New optional tax regime may adversely affect savings in India: Experts

Finance Minister Nirmala Sitharaman in Budget 2020-21 provided option to personal income tax payers to remain in existing tax scheme with exemptions and deductions or opt for a new simplified tax regime with lower tax rates but without exemptions and deductions.

Budget was disappointing for lacking vision; but fiscal, taxation measures welcome: EAC-PM member Ashima Goyal

Goyal, who is a part-time member of the Economic Advisory Council to the Prime Minister (EAC-PM), said that it was a "surprise" not to have a mention of the word 'slowdown' in the nearly three-hour long speech by the FM. The budget document is a "balancing act" between fiscal stimulus to drive growth and the need to be responsible on spending, she said.

FPIs remain net buyers in Feb, invest Rs 24,617 crore

FPIs have been net buyers in the Indian markets since September 2019, the data showed.

IMG clears BPCL sale bid documents, to be issued after ministerial group nod

An inter-ministerial group has approved sale bid docs for privatisation of India's 2nd biggest oil refiner.

Transfer of surplus money from RBI in future to depend on income, expert panel suggestions: Nirmala Sitharaman

The surplus distribution policy of RBI is determined in accordance with section 47 of the RBI Act, 1934, Sitharaman said in a written reply to Lok Sabha.

View: Why the stimulus has failed to lift the economy

Failure of stimulus to stoke growth suggests India’s structural problems are too deep to be stimulated away.

One more set of reforms coming to boost economic growth: Nirmala Sitharaman

Union Finance Minister Nirmala Sitharaman on Friday said the government will respond to the challenges faced by all the sectors. Every possible help will be extended to them, she told a press conference here. "We are looking at the challenges which the sectors are facing. We will respond to the challenges and extend every possible help," Sitharaman said to a query on the ongoing slowdown of the economy. She said the Centre is "continuously engaging with the sectors facing challenges and interacting with them".One more set of reforms coming to boost economic growth: Nirmala Sitharaman

Ficci: Some drugs may not last beyond Feb because of virus crisis

India depends on China for around 70% of its bulk drugs and drug intermediates, according to industry estimates. This is the first-of-its-kind study based on feedback from the industry.

Govt spending remains key to India's economic growth

The wider body of indicators have thrown up a mixed bag. Continued spending is key to keep “green shoots” alive.

RBI board recommends aligning accounting year with fiscal year from 2020-21

The Central Board of Directors of the RBI at its 582nd meeting reviewed the current economic situation, global and domestic challenges and various areas of operations of the Reserve Bank. The board recommended aligning the financial year of RBI, currently July-June, with the government's fiscal year (April-March) from the year 2020-21. It approved forwarding a proposal to the government for its consideration, the RBI said in the statement.

ANMI to mobilise one crore investors for LIC's IPO

The proposed listing will help the government in achieving its disinvestment target of Rs 2.1 lakh crore for 2020-21.

Govt closely monitoring agriculture credit given by banks: FM

The government in Budget 2020-21 has raised the farm loan disbursal target by 11 per cent to Rs 15 lakh crore for the next fiscal and allocated Rs 1.6 lakh crore to implement various plans in agriculture and allied sectors as it chases the goal of doubling farmers income by 2022.

Transmission of rate cuts improving; expected to improve further: RBI Governor Shaktikanta Das

Addressing the media after the customary post-budget meeting between the Finance Minister and the RBI, Governor Shaktikanta Das talked about the improving transmission of the rate cuts they had announced last year, the AGR ruling by the Supreme Court and growth projections.

Finance minister asks startups for feedback on taxing ESOPs

Tax officers suggested that entities could approach the inter-ministerial board to be tagged as startups. During the first of its kind post-Budget interaction, organised by NITI Aayog, Sitharaman offered further support, if needed.

States must amend laws for fiscal breach

In the Budget, finance minister Nirmala Sitharaman has proposed an option that will do away with exemptions, while lowering the liability for those who have few allowances or do not claim tax breaks, but comes with multiple slabs. While the scheme has been criticised, the tax department has defended the proposal.

People from many industries are coming to us and saying they are out of distress: Nirmala Sitharaman

Commenting on her decision to slash corporate tax, the finance minister said that the industry has told her that the decision was taken at the right time and that it has made a big difference to their books. She said that the decision was announced on September 20 and industry will take time in announcing major investment decisions.

Nirmala Sitharaman will reply to Budget debate in Parliament

Finance Minister Nirmala Sitharaman's budget has been debated since it came out earlier this month. She plans to respond to her critics, at the Parliament.

Infra players take up land, funding issues with FM Nirmala Sitharaman

FM Nirmala Sitharaman on Wednesday met representatives from the infrastructure industry to understand issues faced by them.

Don't want any company to shut operations: Nirmala Sitharaman says will address concerns of Telecom Sector

NEW DELHI: The government doesn’t want any phone companies shutting down and is looking at support that can be given to the debt-laden telecom sector that’s been saddled with additional dues on account of last month’s Supreme Court ruling on adjusted gross revenue (AGR).“I want no company to shut operations,” finance minister Nirmala Sitharaman said on Friday in response to a query on the telecom sector. “I want all companies to flourish & serve their customers.”Don't want any company to shut operations: Nirmala Sitharaman says will address concerns of Telecom Sector

Finance Ministry to seek Cabinet nod for credit guarantee fund

"The Credit Guarantee Enhancement Corporation Fund is being set up as a Non-Banking Financial Company (NBFC) with partnership of IIFCL, LIC, PFC, REC and similar other companies. A CCEA note in this regard is under process", official sources said adding inter-ministerial consultations are over.

4 real estate companies from three cities requests to avail bailout fund: Nirmala Sitharaman

Earlier this month, the government approved a Rs 25,000 crore fund to help complete over 1,600 stalled housing projects, including ones that have been declared NPAs or admitted for insolvency proceedings in a bid to boost growth by steering consumption in real estate and associated sectors.

4 real estate companies from three cities requests to avail bailout fund: Nirmala Sitharaman

Earlier this month, the government approved a Rs 25,000 crore fund to help complete over 1,600 stalled housing projects, including ones that have been declared NPAs or admitted for insolvency proceedings in a bid to boost growth by steering consumption in real estate and associated sectors.

Government mulls raising insurance cover on bank deposits to above Rs 1 lakh: Nirmala Sitharaman

FM said the government will bring legislations on raising bank deposit cover from the current Rs 1 lakh.

NITI readies social protection framework

In order to bridge the inequality gap and uplifting more people out of poverty, technical committee headed by NITI Aayog vice chairman Rajiv Kumar is set to prepare a social protection framework that will identify top 5 priority areas for the government, ranging from employment and old-age security to health.

SBI MD Arijit Basu bats for greater oversight on banks, sans overreach by probe agencies

With a view to protect prudent decision making of bankers, the government last month took a slew of decisions, including doing away with personal responsibilities of MD and CEO of public sector banks (PSBs) for compliance in dealing with large value frauds committed by bank officials.

Nirmala Sitharaman to address RBI board on Monday

The government has lowered the fiscal deficit target to 3.3 per cent of the GDP as it is expecting net additional revenue of Rs 6,000 crore over the interim Budget estimates.

PM Modi wants citizens to take vow to pay income tax honestly

Prime Minister Narendra Modi appealed to all citizens to take a pledge to pay their taxes honestly, saying there was a long way to go in terms of tax compliance in India.

Govt in consultation with different sectors on economic reforms: FM Nirmala Sitharaman

Finance minister Nirmala Sitharaman addressed the media after meeting tax officials. She also said that she is in consultation with industry bodies and sectoral interventions have been announced from time to time. To a question on whether there's slowdown in the economy or not, the finance minister refused to acknowledge it. Govt in consultation with different sectors on economic reforms: FM Nirmala Sitharaman

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