Sharing Tax Revenues
The Sixteenth Finance Commission’s (SFC) recommendations have recently been accepted by the Government of India, and the reports of the Commission were tabled in Parliament on the day of the budget by the Union Finance Minister.
The Sixteenth Finance Commission’s (SFC) recommendations have recently been accepted by the Government of India, and the reports of the Commission were tabled in Parliament on the day of the budget by the Union Finance Minister.
The Finance Minister informed the Lok Sabha that the Enforcement Directorate (ED) has been successful in recovering assets from several high-profile economic offenders.
Union Finance Minister Nirmala Sitharaman said it remains concerned about the global economic outlook and geopolitical environment.
"We need to collectively work to strengthen multilateral development banks for many global challenges, like climate change," PM Modi said during the meeting.
Launching the 6th round of coal mine auction of the Ministry of Coal, she observed that India was at present the best investment destination in the world.
Her interventions focused on infrastructure investments and International Taxation during the meeting on the sidelines of the annual meetings of the IMF and the World Bank Group (WBG).
Answering a question on India's economic prospects in the face of global uncertainty, Sitharaman said India is now setting global standards and countries around the world recognise this scale of achievement.
She is on an official visit to the United States to attend the IMF and the World Bank annual meetings, the G20 Finance Ministers and the Central Bank Governor (FMCBG) Meetings.
These comments come as India continues to be the fastest growing major economy in the world. In its July 2022 report, the IMF had pegged India's GDP growth for 2022 at 7.4 per cent.
Sonia Gandhi must apologise to the President of India and country. It was a deliberate attempt to insult the President and unexpectable," Sitharaman added.
