Nirmala Sitharaman

April 7, 2025 3:19 PM

Nirmala Sitharaman to embark on official visit to the UK and Austria

Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman, is set to begin her official visit to the United Kingdom and Austria from 8th to 13th April. The India-UK Economic & Financial Dialogue, scheduled for April 9 in London, will be co-chaired by Sitharaman and the UK Chancellor of the Exchequer, providing a crucial platform for high-level discussions on various financial collaboration matters between the two countries. Key topics for discussion will include investment oppor...

April 2, 2025 9:09 AM

Parliamentary Affairs Minister Rijiju to move Waqf Amendment Bill for passing in Parliament

The legislative business suggests that Union Parliamentary Affairs Minister Kiren Rijiju will move the Waqf Amendment Bill of 2025, which aims to amend the Waqf Act of 1995, for passing. While, union Finance Minister Nirmala Sitharaman will move that the amendments made by Rajya Sabha in the Banking Laws (Amendment) Bill of 2024, which further amends the Reserve Bank of India Act, 1934, the Banking Regulation Act, 1949, the State Bank of India Act, 1955, the Banking Companies (Acquisition and Tr...

March 25, 2025 10:47 PM

Lok Sabha passes Finance Bill 2025

The Lok Sabha on Tuesday passed the Finance Bill 2025, with Finance Minister Nirmala Sitharaman emphasizing that the legislation aligns with the aspirations of the people and the government's vision of making India a developed country by 2047. The bill was passed after the House adopted amendments moved by the Finance Minister. The debate on the bill had begun on Monday. Presenting the Finance Bill, Sitharaman said the government aims to provide tax certainty, rationalize provisions for ease o...

February 17, 2025 6:39 PM

Govt received over 60,000 inputs from citizens on new Income Tax Bill: FM

The government received more than 60,000 inputs from citizens regarding the new Income Tax Bill, 2025, Union Finance Minister Nirmala Sitharaman said on Monday. Addressing a post-Budget event here, the Finance Minister said the review of the Income Tax Act, 1961, has a significant component of Prime Minister Narendra Modi’s principle of 'Jan Bhagidari.' "The government's emphasis post-Covid-19 pandemic has been to allocate funds for public expenditure in capital building. The perception that...

February 13, 2025 4:24 PM

Sitharaman tables new Income Tax bill in Lok Sabha, virtual assets like crypto defined under income from other sources

Finance Minister Nirmala Sitharaman introduced the new Income Tax Bill, 2025, in the Lok Sabha on Thursday as part of tax reforms aimed at streamlining and simplifying provisions to make them easier to understand and reduce the scope for legal disputes. The legislation will replace the Income Tax Act, 1961, which has undergone extensive modifications over the past six decades. The bill will be sent to the Select Committee of Parliament before being presented for final approval. The new law is ...

February 10, 2025 2:02 PM

New Income Tax Bill to raise transparency in tax laws, say experts

The government is preparing to introduce a new Income Tax Bill aimed at simplifying tax laws and improving compliance. The bill is expected to use clear language to help taxpayers understand their obligations and rights. Union Finance Minister Nirmala Sitharaman is set to present the bill this week, after which it will be referred to the Parliament’s Standing Committee on Finance for review. The proposed changes align with the government's approach of placing trust in taxpayers before initiat...

February 10, 2025 9:57 AM

Parliament Budget Session to resume today

The Budget Session of Parliament will reconvene on Monday, with both the Lok Sabha and Rajya Sabha set to meet. The session will continue discussions on the Union Budget for 2025, along with other significant matters. One of the key highlights of the session will be the introduction of the new Income Tax Bill, which received approval from the Union Cabinet on Friday. The Bill aims to simplify India’s direct tax laws without imposing any new tax burdens. Instead, it seeks to streamline existi...

February 1, 2025 4:13 PM

Old vs New Tax Regime: What has changed for the middle class in budget 2025-26

In a major move to ease the tax burden on middle-class taxpayers, Finance Minister Nirmala Sitharaman on Saturday announced fresh tax slabs under the new tax regime in the Union Budget 2025-26. The new tax slabs aim to provide relief to individuals earning up to Rs 12 lakh annually, with the exemption limit set at Rs 12.75 lakh for salaried individuals (including standard deductions). Finance Minister Sitharaman said that after the changes made under the new tax regime, there will be a saving ...

February 1, 2025 3:16 PM

Union Budget 2025: FM Sitharaman announces duty revisions, goods to get cheaper and costlier

Finance Minister Nirmala Sitharaman, while presenting the Union Budget 2025-26, introduced a series of adjustments to basic customs duties (BCD) aimed at supporting domestic manufacturing, boosting exports, and easing costs for critical goods. The changes are expected to influence the prices of various products, with some becoming cheaper while others see price hikes. Relief for Patients To provide relief for patients with cancer, rare diseases, and other severe chronic conditions, the gover...

February 1, 2025 2:26 PM

Union Budget 2025-26: FM Sitharaman unveils modified UDAN scheme, boosts regional connectivity

In her presentation of the Union Budget 2025-26, Finance Minister Nirmala Sitharaman announced a significant push toward enhancing regional connectivity with the launch of a Modified UDAN scheme. The initiative will bring 120 new destinations into the network and facilitate travel for an additional 4 crore passengers over the next decade. The scheme prioritizes the development of helipads and smaller airports in hilly, aspirational, and northeastern districts to improve access to remote regions...