Washington: As part of its goal to become a USD 5 trillion economy by 2024, India plans to spend USD 1.4 trillion (Rs. 99.52 lakh crore) on its infrastructure in the next five years, Union Finance Minister (FM) Nirmala Sitharaman said. Addressing the annual meeting of the International Monetary Fund (IMF) in Washington on Saturday,…
New Delhi: As a Deepavali gift, Finance Minister Nirmala Sitharaman this morning slashed Corporate Tax rates for domestic firms from 30% to 22% and for new manufacturing companies from 25% to 15% to boost economic growth. The move brings India’s Corporate Tax rate on par with East Asian countries, the Minister said about the Government’s…
Finance Minister Nirmala Sitharaman yesterday announced the merger of 10 public sector Banks into four entities. The first merger, that of Punjab National Bank, Oriental Bank of Commerce and United Bank will create a super-bank named Punjab National Bank. This will be the second-largest public sector Bank in India, after the State Bank of India….
New Delhi: The Union Government yesterday 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 six-year low. Finance Minister Nirmala Sitharaman announced four new set of mergers — Punjab National Bank, Oriental…
Mysuru: Union Government will introduce a new system for scrutinising the Income Tax Return on Oct. 8, the Vijayadashami Day, Union Minister for Finance Nirmala Sitharaman said last evening. Speaking to reporters at Government Guest House after holding a detailed meeting with tax officials, she said the implementation of the “faceless assessment”, announced in the…
Mysuru: BJP has no role in the arrest of former Union Finance Minister P. Chidambaram and it was not a vendetta politics, Union Minister Nirmala Sitharaman clarified yesterday. She said that the Congress reaction on the issue was on expected line. Congress has ruled the country for many years and the party might have…
Addresses GST and I-T officials Mysuru: Union Finance Minister Nirmala Sitharaman, who had visited Kodagu to assess the flood situation recently, arrived in city this morning. She will be addressing the GST and Income Tax officials in an internal meeting organised by GST Commissionerate, Mysuru, at Hotel Radisson Blu here. Nirmala, who arrived on road…
By Vikram Muthanna Like most Indians I too watch the Union budget. But usually by the end of the Finance Minister’s speech I feel like I have understood nothing and end up feeling like I have a learning disability. Finally my perception of a budget is reduced to — “what has gotten costlier and what…
New Delhi: The Maiden Budget of the Narendra Modi Government in the second tenure was presented in the Lok Sabha this morning. It was Finance Minister Nirmala Sitharaman’s first Budget and also the second fiscal proposals of a financial year by any woman Finance Minister. Indira Gandhi has been the only woman to have presented…
Wraps budget documents in traditional ‘bahi khaata’ New Delhi: Setting a new precedent, Union Finance Minister Nirmala Sitharaman this morning was seen hugging the Budget documents wrapped in a red cloth, the traditional ‘bahi khaata’ way, instead of the leather briefcase that until now her predecessors marched out with. Chief Economic Advisor Krishnamurthy Subramanian said…
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