Politicians usually prefer policies where benefits are concentrated and costs are diffused famers bills are an example of the opposite kind and in case the FM had so decided, the benefits extended to the poor were likely to fetch votes. But to her credit, she has steered clear of that wasteful trajectory, and in keeping with the governments philosophy, preferred the tougher course instead, by focussing on creating capacity in the economy through a massive boost in capital investment
February 7, 2022It would have been better if the Budget had focussed more on issues affecting the common man. For example, inflation and unemployment are not mentioned at all in the FM's Budget speech. Co-operative Societies have got some relief from tax in the Budget, but individuals and partnership firms continue to be taxed at double the rates of manufacturing companies. Expectations of the middle class regarding lower petrol prices, increased standard deduction, increased 80C limit etc. have all been belied
February 4, 2022With an Expenditure Tax applied to every bank/digital transaction, the tax net would stretch to practically everybody now that the bulk of the unbanked have been drawn into the net. If the expenditure tax is minuscule, say 0.001 per cent, it addresses the argument long offered by leftist economists that the rich should be taxed and not the poor. Taxation that even a poor man does not mind can still add up to a tidy sum
January 25, 2022The Finance Minister also announced a number of new schemes and initiatives for Jammu & Kashmir which included launch of Tejasvini and Hausala schemes of J&K Bank, Shikhar and Shikara schemes of Punjab National Bank (PNB) and SIDBI cluster development fund for Rs. 200 crore
November 23, 2021The finance minister emphasised that the centrality of climate justice based on the United Nations Framework Convention on Climate Change and principles of the Paris Agreement would be critical for taking forward discussions towards successful outcomes.
October 14, 2021Union Finance Minister Nirmala Sitharaman on Sunday said many districts in the country lack banking presence despite high level of economic activity.
September 26, 2021"I now return to the misplaced euphoria among your government’s spokespersons on the GDP/GVA (gross value added) growth in Quarter-1 of this financial year. I would like to point out that the growth of GVA in Quarter-1 of this year represents a shortfall to the tune of 7.79 per cent compared to Quarter 1 of 2019-20. Therefore, I would request you to restrain your spin doctors so that the reality is stated with utter objectivity,”
September 12, 2021The fiscal impact of the stimulus is likely to be around 0.25-0.6 per cent of GDP in the current fiscal, they said.
November 13, 2020The minister described Jaitley as the 'architect of GST'.
February 1, 2020While investigating a fraud case, the agency shall be sensitive to the distinction between a bonafide decision and criminal involvement.
December 28, 2019In the party mouthpiece Saamana, Sena dubbed the Finance Minister Nirmala Sitharaman’s response to the escalating onion prices as ‘childish.’
December 10, 2019One important measure announced in the budget was the intention to tap the overseas money market for the first time for Government borrowing, with an eye to boost foreign institutional inflows.
July 18, 2019The obsessive security associated with Budget preparation, where dozens of Finance Ministry officials are sequestered in North Block days ahead of the presentation, has a huge downside in that there is no informed discussion on the proposed budgetary provisions. Unfortunately, budget proposals are finalised in the rarefied atmosphere of North Block, far removed from the persons and places for whose benefit the whole exercise is undertaken.
July 8, 2019The top official said that the focus on start-ups would give a boost to the nascent sector, while the announcement about recapitalisation of public sector banks would allow industry access to capital, which was hard to come by in recent years.
July 5, 2019Sitharaman, the first woman finance minister in post-Independence India, will present the first Budget of the Modi-II government on 5 July.
June 9, 2019Sitharaman will be interacting with troops and also inaugurating the second phase of MAP consisting of 868 dwelling units for troops of ANC at Brichgunj military station.
January 14, 2019Sitharaman lost her cool noting that she was only going by minute-by-minute programme drawn up for her visit and had been following the minister in-charge
August 25, 2018