Finance Minister Nirmala Sitharaman

July 24, 2024 9:01 AM

Diaspora from Dubai commends India’s Budget 2024, terming it as progressive & innovative

The Indian diaspora has warmly embraced Budget 2024, commending its emphasis on economic growth and innovation. The government's dedication to infrastructure development and digital initiatives has garnered widespread approval, with many viewing these as vital for boosting India's global competitiveness. A standout feature for the diaspora is the significant reduction in gold import duty from 15% to 6%, applicable to both gold and silver. This move is seen as particularly beneficial for Non-Res...

July 24, 2024 8:32 AM

USISPF President Mukesh Aghi terms India’s Budget 2024 as balanced one, focused on job creation

Commending India's Union Budget 2024, Mukesh Aghi, President and CEO of the US-India Strategic Partnership Forum, said that it is a pretty balanced budget focused on job creation. Aghi said that the focus of the budget is to bring the deficit from 5.3 per cent to 4.9 per cent. "It's a pretty balanced budget. From a macro perspective, the focus is to bring the deficit from 5.3 per cent to 4.9 per cent. So that's a very responsible budget. The budget focuses on job creation, skills in attracting ...

July 23, 2024 10:58 PM

Strengthening of debt recovery Tribunal and establishment of Addl Tribunal to speed up debt recovery: Centre

The Indian government has announced significant reforms to the country's financial regulatory framework. Finance Minister Nirmala Sitharaman, during her presentation of the 2024-2025 Union Budget, outlined several key initiatives designed to strengthen the Insolvency and Bankruptcy Code (IBC) and improve the ease of doing business in India. Central to these reforms is the proposed establishment of an Integrated Technology Platform, which aims to bring greater consistency, transparency, and ove...

July 23, 2024 8:42 PM

Union Budget 2024: Ministry of Defence receives Rs 6.22 lakh crore allocation

The Ministry of Defence (MoD) has been allocated a record Rs 6.22 lakh crore in the Regular Union Budget for the Financial Year 2024-25, marking the highest allocation among all ministries. "While maintaining the allocation made to MoD during interim budget, the Government has made an additional allocation to the tune of Rs 400 crore on innovation in defence through the Acing Development of Innovative Technologies with iDEX (ADITI) scheme," as per a Ministry of Defence press release. Finance M...

July 23, 2024 5:44 PM

Andhra Pradesh CM Chandrababu Naidu welcomes Union Budget 2024-25

Andhra Pradesh Chief Minister N. Chandrababu Naidu has expressed gratitude to Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman for addressing the state's needs in the Union Budget 2024-25. In a statement, Naidu praised the budget's focus on crucial projects in Andhra Pradesh, including the state capital, Polavaram project, industrial nodes, and development of backward areas. "On behalf of the people of Andhra Pradesh, I thank the Hon'ble Prime Minister, @narendramodi Ji and...

July 23, 2024 4:33 PM

PM Modi hails Budget 2024, says it will speed up growth and empower middle class

Prime Minister Narendra Modi on Tuesday praised the Union Budget 2024-25 as a significant driver of economic development and empowerment for all sections of Indian society. In his post-budget remarks, PM Modi emphasized the budget's focus on rural development, poverty alleviation, and agricultural prosperity. "This is a budget that will guide the country’s villages, poor, and farmers towards prosperity. Over the past 10 years, 25 crore people have risen out of poverty. This budget supports th...

July 23, 2024 9:33 AM

Budget will be based on PM Modi’s mantra ‘Sabka Saath Sabka Vikas”: MoS Chaudhary

Minister of State for Finance Pankaj Chaudhary said that the first Union Budget of the third Modi government will be based on his mantra of "Sabka Saath Sabka Vikas". Finance Minister Nirmala Sitharaman will present the full budget for 2024-25 today (Tuesday). Chaudhary was among the first from FM Nirmala Sitharaman's team to reach the North Block offices of the Finance Ministry ahead of the Budget Presentation. Vivek Joshi, Secretary, of the Department of Financial Services and Chief Economic ...

July 23, 2024 8:34 AM

Finance Minister Nirmala Sitharaman set to present Modi 3.0 govt’s first budget today

Finance Minister Nirmala Sitharaman is set to present the Union Budget 2024 in Parliament today (Tuesday), marking her seventh consecutive budget and eclipsing the late Moraji Desai's record of six consecutive budgets, which is likely to focus on changes in the income tax structure and improving the ease of doing business in India. At 11 am today, the much-awaited full budget for 2024-25, the first under the Modi 3.0 government, will be presented on the floor of the Parliament. All eyes will be...

July 8, 2024 3:36 PM

SBI research suggests centre to target 4.9% fiscal deficit in 2024

As the Modi government prepares to present its first full budget of its third term on July 23, SBI Research has recommended a focus on fiscal prudence and continued consolidation. The research arm of India's largest public sector bank suggests the government should aim for a fiscal deficit target of 4.9% for the 2024-25 financial year. The difference between total revenue and total expenditure of the government is termed as fiscal deficit. It is an indication of the total borrowings that may b...

New Delhi, Mar 27 (ANI): Union Minister of Finance & Corporate Affairs, Nirmala Sitharaman at the Times Now Summit 2024, in New Delhi on Wednesday. (ANI Photo)

March 28, 2024 4:56 PM

“8.3% growth for three continuous quarters”, says Finance Minister Sitharaman

Union Finance Minister Nirmala Sitharaman expressed confidence in India's economic growth momentum by citing three consecutive quarters with growth rates exceeding 8 percent, with the third quarter registering a remarkable 8.3 percent growth. This occurred during a parliament election convention organized by Thiruvananthapuram BJP candidate Rajeev Chandrasekhar. Sitharaman said, "Three continuous quarters, we have had more than 8 per cent growth. 8.3 was quarter three." Further added that, "If...