Here’s the full list of measures to support Indian Economy’s fight against coronavirus
NEW DELHI: India’s Prime Minister Narendra Modi yesterday announced a Special economic and comprehensive package of Rs 20 lakh crores – equivalent to 10% of India’s GDP. He gave a clarion call for आत्मनिर्भर भारत अभियान or Self-Reliant India Movement. He also outlined five pillars of Aatmanirbhar Bharat – Economy, Infrastructure, System, Vibrant Demography and […]
Wilful defaulters beneficiaries of ‘phone banking’ under UPA regime: Nirmala Sitharaman
NEW DELHI: Hitting out at the Congress party, Finance Minister Nirmala Sitharaman has said that wilful defaulters were beneficiaries of ‘phone banking’ under the UPA regime and the Modi government is chasing them to recover the dues She was responding to the opposition’s allegations of loan waivers worth Rs 68,607 crore in the form of […]
FM holds pre-budget consultation with representatives of financial sector and capital markets
NEW DELHI: The Union Minister of Finance & Corporate Affairs, Nirmala Sitharaman held her second Pre- Budget Consultation meeting with the stakeholders from Financial Sector and Capital Markets in connection with the forthcoming General Budget 2020-21 here. The main areas of discussion during the meeting included issues namely increasing credit off take from Banks , […]
Nirmala Sitharaman fudged Budget figures to hide real deficit: Yashwant Sinha
NEW DELHI: Former BJP leader Yashwant Sinha on Sunday accused Finance Minister Nirmala Sitharaman of “fudging” budget numbers to conceal the real fiscal deficit. Speaking at the Mumbai Lit Fest, Sinha, a former finance minister himself, alleged that Sitharaman relied on estimates used in the interim budget of February 1, though the CAG had later […]
India mulls raising insurance cover on bank deposits to above Rs 1 lakh
NEW DELHI: India’s Finance Minister Nirmala Sitharman on Friday said the government will bring legislations on raising insurance cover on bank deposits from the current Rs 1 lakh and regulating multi-state cooperative banks. These legislations will be brought during the Winter Session of Parliament starting coming Monday, the minister told reporters here. These legislations assume significance […]
Government doesn’t want any telco to shut down, intends to address concerns: Nirmala Sitharaman
NEW DELHI: Finance Minister Nirmala Sitharaman on Friday said the government intends to address the concerns of the crisis-ridden telecom companies which are facing billions of dollars of fresh statutory liability following a recent Supreme Court ruling. “I want no company to shut operations. I want everyone to be up and running. We want the […]
Real estate woes impacting core sectors; working with RBI for solution: Nirmala Sitharaman
NEW DELHI: The Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman has said that the real estate sector requires a lot more attention and its prevailing sluggishness needs to be addressed. She informed: “Alternative funds are approaching us saying they would like to work with us, so long as a support mechanism is available […]
Former RBI Governor responds to Nirmala Sitharaman’s comment, says two-thirds of his tenure was under BJP
NEW DELHI: Former RBI Governor Raghuram Rajan, who faced a stinging attack from Finance Minister Nirmala Sitharaman for presiding over the “worst phase” of the Indian banking sector, on Thursday reminded her that two-third of his tenure as the head of the central bank was under the BJP government. Rajan, who was Governor of the […]
Don’t hesitate to give loans to SHGs led by credible spiritual leaders: Nirmala Sitharaman
NEW DELHI: India’s Finance Minister Nirmala Sitharaman on Wednesday lauded self-help group movements led by religious and spiritual leaders and advised banks to give up any hesitation in giving loans to such groups backed by credible leadership. When you have social, religious and spiritual leaders leading the (self-help group) movement, banks find easy to find […]
PSBs had ‘worst phase’ under Manmohan Singh, Raghuram Rajan: Nirmala Sitharaman
NEW DELHI: Finance Minister Nirmala Sitharaman has said that the Indian public sector banks had the “worst phase” under the combination of former Prime Minister Manmohan Singh and RBI Governor Raghuram Rajan. Delivering a lecture at the prestigious Columbia University’s School of International and Public Affairs here on Tuesday, Sitharaman said that giving all the […]
Investor wealth up by Rs 6.8 trillion in a day following Nirmala Sitharaman’s announcements
NEW DELHI: Investor wealth on Friday zoomed a whopping Rs 6.82 trillion in single day as equity markets rallied, with the Sensex skyrocketing 2,284 points in intra-day trade, following a slew of economy-boosting measures announced by Finance Minister Nirmala Sitharaman. The 30-share key BSE index saw a hike by 1,921.15 points or 5.32 per cent […]
Nirmala Sitharaman in twitter spat with Kiran Mazumdar-Shaw; says she is working on the economy
NEW DELHI: India’s Finance Minister Nirmala Sitharaman on September 19 defended her handling of the economy saying she has been working on measures to revive the growth from a six-year low. Sitharaman, who is not known to reply to comments made on her twitter handle, instantly choose to respond to drug-maker Biocon Chairman Kiran Mazumdar-Shaw’s […]
Real estate developers welcome measures announced by Nirmala Sitharaman
By Deepshikha Singh NEW DELHI: The real estate sector has welcomed the new measures announced by Finance Minister Nirmala Sitharaman to revive the economy especially announcement of Rs 20,000-crore fund to complete stalled projects. Interestingly, the government has not announced measures to create demand, which is necessary to rid the sector of unsold inventory and persistent […]
India announces Rs 70,000 crore package for exports, real estate sectors to boost growth
NEW DELHI: India’s Finance Minister Nirmala Sitharaman on Saturday announced an over Rs 70,000 crore package for the exports and real estate sectors, including setting up of a stressed asset fund, as the government continued with firefighting measures to pull the economy out of a six-year low growth rate. A Rs 20,000 crore fund, with […]
India unveils merger of 10 government banks to revive economic growth from 5 year low
NEW DELHI: The government of India on Friday unveiled a mega plan to merge 10 public sector banks into four as part of plans to create fewer and stronger global-sized lenders as it looks to boost economic growth from a five-year low. Finance Minister Nirmala Sitharaman, who had last week announced tax sops and measures […]
India will soon announce 2 more big steps to push consumption
NEW DELHI: Stating that consumption needs to be given a push, India’s Finance Minister Nirmala Sitharaman Thursday said the Centre will announce two more big steps in the coming days to give momentum to industry. The government has decided to increase spending and has announced a slew of measures to arrest the sluggishness in the […]