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Nirmala Sitharaman

Fearing backlash, Centre withdraws rate cuts on PPF, small saving scheme within 24 hours

Fearing severe criticism and a backlash especially when Assembly elections are going on in states, the Union government on Thursday withdrew the order slashing interest rates for small saving schemes and public provident fund (PPF). The order regarding steep interest rate cuts was issued by the government on Wednesday night. Finance minister announces withdrawal of...

Budget 2021-22: Centre committed to welfare of farmers, says Nirmala Sitharaman

At a time when the farmers are protesting against the three contentious farm laws passed by the Centre, Union finance minister Nirmala Sitharaman said that the Narendra Modi government is committed to the welfare of farmers. The finance minister said that the Centre is increasing the agriculture credit target to Rs 16.5 lakh crore. She...

Union Budget 2021-22: Top developments

With India being the second most-affected country due to COVID-19 pandemic, the economy was in a shambles in the first half of 2020 declining as much as 23%. However, like many other countries, it has registered a robust recovery in the second-half of last year, with the Union government and the Reserve Bank of India...

India’s GDP to grow at 11% in 2021-22: Economic Survey

India’s gross domestic product (GDP) is expected to grow at 11 per cent in 2021-22, according to the Economic Survey 2020-21 tabled by Union finance minister Nirmala Sitharaman on Friday. Although the Economic Survey predicts a “V-shaped” recovery, it also clarified that the country will take at least two more years to reach the 2019...

Nirmala Sitharaman announces job creation scheme, tax sops for home buyers

In a bid to boost economic growth that has been hit hard due to the COVID-19 pandemic, Union finance minister Nirmala Sitharaman on Thursday announced a new job creation scheme—Atmanirbhar Bharat Rozgar Yojana. Sitharaman also announced tax sops for home buyers. The announcements were made under the Atmanirbhar 3.0 stimulus measures. Addressing a press conference...

BJP announces free COVID vaccine for Bihar, faces criticism

The BJP on Thursday announced that it will provide free COVID-19 vaccine to all in Bihar, if the party comes to power in the state.  The BJP’s announcement was made in the poll manifesto released by Union finance minister Nirmala Sitharaman. Sitharaman said that as soon as COVID-19 vaccine will be available for production at...

P Chidambaram criticises Sitharaman with “Messenger of God” remark

Congress leader P Chidambaram on Saturday took a dig at Union finance minister Nirmala Sitharaman for her “Act of God” remark. Using the moniker “Messenger of God”, P Chidambaram said she must also explain the government’s “mismanagement” of the economy before the coronavirus crisis began. Notably, Sitharam had used the phrase “Act of God” for...

Nirmala Sitharaman tweets pic of Rangoli of Lord Ram

Finance minister Nirmala Sitharaman on Wednesday tweeted a picture of a Rangoli/Kolam of Lord Ram that she made at the temple in her home. She tweeted the picture on the day Prime Minister Narendra Modi is in Ayodhya to lay the foundation stone of the Ram Temple.   “In many homes, a rangoli/kolam is made...

Relief for businesses: Centre proposes to decriminalise minor offences including cheque bounce

The Finance Ministry has proposed to decriminalise a host of minor offences, including those relating to cheque bounce and repayment of loans, in as many as 19 legislations to help businesses tide over the crisis caused by the coronavirus outbreak. The 19 legislations include Negotiable Instruments Act (cheque bounce), SARFAESI Act (repayment of bank loans),...

Migrant Woes: FM takes a dig at Rahul Gandhi, terms him “dramabaaz”

Finance Minister Nirmala Sitharaman on Sunday said its leader Rahul Gandhi is doing a “drama” and asked the political parties to refrain from politicising the plight of migrant workers and behave responsibly on the issue. Sitharaman after announcing the Rs 20-lakh crore economic package said the government would seek cooperation from all parties including the...

Rs20 lakh cr stimulus package: Sitharaman announces opening of coal sector, reforms in other areas

Finance Minister Nirmala Sitharaman announced the opening up of the coal sector and hiking of FDI limit in defence manufacturing among others as part of the fourth tranche of announcements. The announcements are part of the Rs20 lakh crore economic stimulus package announced by Prime Minister Narendra Modi. At a press conference, the minister said...

Third tranche of financial package focuses on agriculture: FM

Finance Minister Nirmala Sitharaman on Friday announced the third tranche of the Rs 20 lakh crore economic stimulus package focussing on agriculture, dairy, animal husbandry, and allied activities. The Centre will immediately create a Rs 1 lakh crore Agri-Infrastructure Fund for farm gate infrastructure for small and medium farmers, most of whom are marginalised. “Financing...