Finance minister Nirmala Sitharaman on Friday said no late fee will be levied for delayed filing of GST returns by registered entities with nil liability between July 2017 to January 2020. She said late fee for non-filing of monthly sales return for others has been reduced to a maximum of Rs 500 for July 2017 … Continue reading GST Council halves interest on late filing of returns
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A war of words broke out on Twitter between finance minister Nirmala Sitharaman and Ramchandra Guha with the minister asking the historian not to worry about economy as it is in “safe hands”. Earlier in the day, Guha tweeted quoting British writer Philip Spratt’s comment in 1939 that Gujarat was economically strong but “culturally backward”.
Finance minister Nirmala Sitharaman on Tuesday held a review meeting on credit guarantee scheme with heads of public sector banks, and asked them to expedite loan disbursement under the Rs 3-lakh crore ECLGS for MSME sector, hit hard by coronavirus-induced lockdown.
Finance minister Nirmala Sitharaman on Monday said the government will consider an extension in the deadline for availing the lower 15 per cent corporate tax rate on new investments, due to the COVID-19 pandemic. In the biggest reduction in 28 years, the government in September last year slashed corporate tax rates by up to 10 … Continue reading ‘Govt mulls extension of deadline for availing corp tax benefit’
Finance minister Nirmala Sitharaman on Thursday reviewed the state of the economy at the meeting of the Financial Stability and Development Council (FSDC), in view of disruptions caused by the COVID-19 pandemic. This was the first meeting of the FSDC, the apex body of sectoral regulators headed by the finance minister, since the coronavirus outbreak.
Finance minister Nirmala Sitharaman on Thursday launched a facility for instant allotment of online PAN (permanent account number) card on furnishing of Aadhaar details. The Budget 2020-21 had proposed to launch a system under which PAN shall be instantly allotted online on the basis of Aadhaar without filling up the detailed application form, easing the … Continue reading FM launches instant allotment of PAN via Aadhaar
A day after the RBI projected economic contraction in 2020-21, finance minister Nirmala Sitharaman said future fiscal policy actions to stimulate the economy will depend on how Covid-19 pandemic pans out. The govt has already announced a Rs 20.97 lakh crore economic package, which includes Reserve Bank’s Rs 8.01 lakh crore worth of liquidity measures … Continue reading Covid situation to dictate future actions to revive economy: FM
n her meeting with banks on Friday, finance minister Nirmala Sitharaman will take up the progress of Covid-related credit and the extent of pre-approved loans that have been sanctioned. The minister will meet with chiefs of public sector banks and heads of Nabard, Sidbi and the National Housing Bank through videoconference.
Finance minister Nirmala Sitharaman has said that the Central government’s measures in the special economic package to deal with the impact of coronavirus crisis were aimed at “greater multiplier effect”. Sitharaman said the Central government has given some cash transfer in the PM Garib Kalyan scheme announced after the first coronavirus induced lockdown.
Finance minister Nirmala Sitharaman on Sunday unveiled the government’s plan to limit the role of public sector companies across the economy. The FM said the govt will soon announce a new policy for public sector enterprises which will pave the way for the entry of private companies in all sectors. Even in strategic sectors, PSUs … Continue reading Govt signals retreat of PSUs across sectors
Finance Minister Nirmala Sitharaman on Sunday said reforms will be the focus of the fifth and final tranche of economic stimulus package to deal with the economic fallout of the COVID-19 pandemic.
Releasing the fifth and final tranche of the economic stimulus package, Finance Minister Nirmala Sitharaman said the Centre devolved Rs 46,038 crore of taxes in April to states even though actual revenue shows unprecedented decline from Budget Estimates.
Union finance minister Nirmala Sitharaman on Saturday unveiled the fourth tranche of government’s Rs 20 lakh crore economic package to provide relief to various segments of the economy battered by coronavirus lockdown.
Finance minister Nirmala Sitharaman on Saturday announced easing of restrictions on the utilisation of Indian air space, benefiting the civil aviation sector by about Rs 1,000 crore per year. Announcing the fourth tranche of economic stimulus package, she said only 60 per cent of Indian airspace is freely available.
Finance minister Nirmala Sitharaman on Saturday announced bold structural reforms in eight key sectors in the fourth tranche of economic stimulus package with an aim to boost growth and create jobs. These include coal, minerals, defence, civil aviation, power distribution, space and atomic energy sector.
Finance minister Nirmala Sitharaman on Friday unveiled the third tranche of government’s Rs 20 lakh crore economic package in a bid to revive the Indian economy that has taken a slump due to ongoing nationwide lockdown to curb the spread of the coronavirus pandemic.
The government will amend the six-and-a-half-decade old Essential Commodities Act to deregulate food items, including cereals, edible oil, oilseeds, pulses, onion and potato, finance minister Nirmala Sitharaman said on Friday. The amendment, besides deregulating production and sale of food products, will provide for no stock limit to be imposed on any produce.
Finance minister Nirmala Sitharaman on Friday announced setting up of a Rs 1 lakh crore agri infrastructure fund for farm-gate infrastructure. This fund will be used for setting up cold chains and post-harvest management infrastructure, she said while announcing the third tranche of Covid-19 relief package.
Finance minister Nirmala Sitharaman on Friday announced a Rs 1.63 lakh crore package for agriculture and allied sectors aimed at strengthening infrastructure, logistics and capacity building at farm gate. Sitharaman said the government has taken several measures in the last two months to support farmers, including MSP purchases of Rs 73,300 crore.
Union finance minister Nirmala Sitharaman spelt out plans to provide liquidity to small and medium enterprises and also initiate reforms that would redefine the sector. The package focused largely on providing cash for the MSME sector, NBFCs, housing finance firms and micro finance companies.
Finance minister Nirmala Sitharaman on Thursday said Rs 10,000 crore has been spent in the last two months on creating 14.62 crore man-days of work under the Mahatma Gandhi National Rural Employment Guarantee Scheme ( MGNREGS) to help migrant workers.
Finance minister Nirmala Sitharaman on Thursday announced a Rs 30,000 crore additional emergency working capital fund to ease the stress faced by small and marginal farmers due to the coronavirus-led lockdown across the country.
Union finance minister Nirmala Sitharaman on Thursday unveiled the second tranche of measures of the government’s “atmanirbhar (self-reliant) campaign”. With a view to revive the economy shuttered by the coronavirus lockdown, PM Narendra Modi had announced a Rs 20 lakh crore special economic package.
Union finance minister Nirmala Sitharaman on Thursday announced that public distribution system (PDS) ration cards will be made portable to allow migrant workers to use these cards across the states. This means that the migrant workers can use their ration cards at any free price shop across the country to obtain food.
Finance minister Nirmala Sitharaman on Thursday announced that Rs 5,000 crore credit facility will be given to 50 lakh street vendors hit by the coronavirus-induced lockdown. Addressing a press conference, the Union minister said the government will launch a special scheme within a month to facilitate easy access to credit to the street vendors.
Finance minister Nirmala Sitharaman on Wednesday announced a 25% reduction in TDS (tax deducted at sources) and TCS (tax collected at source) rate for the current financial year. This will release liquidity worth Rs 50,000 cr. The reduced rates shall be applicable for all types of transactions including the payment for contract, professional fees, interest, … Continue reading TDS rate for non-salaried payment cut by 25%
Finance minister Nirmala Sitharaman on Wednesday unveiled the first tranche of the mega economic stimulus package aimed at uplifting the economy battered by the ongoing nationwide lockdown to combat the spread of the novel coronavirus.
In a big relief for taxpayers, finance minister Nirmala Sitharaman on Wednesday announced key reforms in the tax structure which consists of an extension of due date for filing tax returns, reduction in TDS/TCS rate for non-salary payments, EPF support for business and workers, fast track processing of pending funds and Vivad se Vishwas Scheme … Continue reading Relief for taxpayers: ITR filing date extended, EPF contribution reduced
PM Modi on Saturday held a series of meetings with key ministers, including home minister Amit Shah and finance minister Nirmala Sitharaman to firm up the second stimulus package for sectors impacted by lockdown to curb the spread of coronavirus, sources said. The PM would have follow-up meetings with ministers of key economic ministries such … Continue reading PM meets FM for second economic stimulus package
“Provisions are made for NPAs as per the four-year provisioning cycle laid down by the RBI. Upon full provisioning being done, banks write off the fully provided NPA but continue to pursue recovery against the borrower. No loan is waived off,” said finance minister Nirmala Sitharaman rebutting Rahul Gandhi’s claims on banks writing off bad … Continue reading FM rebuts Rahul’s claim, says no loan waived off