Nirmala Sitharaman

September 21, 2025 2:08 PM

From cars to groceries: what gets cheaper under new GST structure

From automobiles and electronics to food items and medicines, as many as 375 goods and services will become cheaper from Monday as the new GST framework comes into effect. The GST Council’s decision to rationalise the tax structure from four slabs to just two — 5 per cent and 18 per cent — marks one of the most sweeping reforms since the introduction of the indirect tax regime. A special 40 per cent rate will continue to apply on luxury and sin goods, including tobacco, pan masala, sugary...

September 21, 2025 9:05 AM

Sitharaman hails GST as ‘revolution’ at Matchbox Industry Centenary in Tamil Nadu

Union Finance Minister Nirmala Sitharaman on Saturday attended the Tamil Nadu Matchbox Industry Centenary Celebration at the SSTM College campus in Kovilpatti, Thoothukudi district. The event was jointly organised by the National Small Matchbox Manufacturers Association, Global Safety Matchbox Industries Association, South India Matchbox Manufacturers Association, All India Chamber of Matchbox Industries (Sivakasi), along with various producers’ associations from Sattur, Gudiyatham, Tenkasi, ...

September 18, 2025 9:37 PM

GST rate cuts on 11 Bengal-specific items will boost state’s economy: Sitharaman

Union Finance Minister Nirmala Sitharaman on Thursday said that while citizens across the country would benefit from the GST rate cuts, 11 Bengal-specific items had been brought under the 5 per cent tax slab to support the state’s economy and its people. Addressing the GST 2.0 outreach programme in Kolkata, Sitharaman noted that the reforms, effective from September 22, were timed so that consumers could benefit ahead of Durga Puja. GST on Shantiniketan leather goods has been reduced to 5 pe...

September 15, 2025 7:48 PM

AI rules must match pace of technology, says Nirmala Sitharaman

Finance Minister Nirmala Sitharaman on Monday underlined the urgent need for regulations in Artificial Intelligence (AI) to keep pace with rapid technological advancements. She was addressing the launch of “AI for Viksit Bharat: The Opportunity for Accelerated Economic Growth” and the Frontier Tech Repository organised by NITI Aayog in New Delhi. The Finance Minister said AI is a “rapidly progressing, real-time and dynamic” technology and must be governed with the same speed as its ...

September 3, 2025 11:17 PM

Government unveils next-generation GST reforms; daily essentials get cheaper

Finance Minister Nirmala Sitharaman on Wednesday announced a major reform in the Goods and Services Tax (GST) regime, consolidating the 12% and 18% tax slabs into a simplified dual-rate structure of 5% and 18%, with a higher 40% rate retained for sin goods. The move, described as “Next-Generation GST,” is aimed at boosting affordability, consumption, and economic efficiency while making compliance easier for businesses. At a press conference, the Finance Minister said the reforms have been...

August 28, 2025 4:48 PM

FM Sitharaman assures exporters of govt support amid US tariff hike

Finance Minister Nirmala Sitharaman on Thursday reassured exporters that the government stands firmly with them as the hike in US tariffs comes into effect, creating uncertainty in the global market. Addressing a delegation of the Federation of Indian Export Organisations (FIEO), the Finance Minister stressed the importance of protecting workers’ livelihoods and urged industry leaders to assure employees of job continuity despite global headwinds. She underlined that the government will e...

August 12, 2025 9:11 AM

Third India–Singapore Ministerial Roundtable to convene in Delhi tomorrow

The third round of the India–Singapore Ministerial Roundtable (ISMR) will be held in New Delhi on Wednesday, with the aim of further expanding and deepening bilateral relations between the two nations, the Ministry of External Affairs (MEA) announced on Tuesday. Representing India at the talks will be External Affairs Minister S. Jaishankar, Finance and Corporate Affairs Minister Nirmala Sitharaman, Commerce and Industry Minister Piyush Goyal, and Minister for Railways, Information and Broadc...

August 11, 2025 3:14 PM

FM Sitharaman tables revised Income Tax Bill in Parliament to enhance fairness, clarity

Union Finance Minister Nirmala Sitharaman on Monday introduced a revised version of the Income Tax Bill, 2025 in the Lok Sabha, incorporating most of the recommendations made by the Parliamentary Select Committee headed by BJP leader Baijayant Panda. The introduction took place amid Opposition uproar. Tabling the bill, Sitharaman said that the changes were necessary to convey the correct legislative meaning. “There are corrections in the nature of drafting, alignment of phrases, consequentia...

August 8, 2025 6:47 PM

Centre withdraws Income-Tax Bill, 2025; to come with amended legislation

Finance Minister Nirmala Sitharaman on Friday moved to withdraw the Income-Tax Bill, 2025, following suggestions from the 31-member Select Committee chaired by BJP MP Baijayant Panda. The Lok Sabha approved the withdrawal amid uproar from Opposition members. The Select Committee’s report on the Income-Tax Bill was presented in the Lok Sabha on July 21, the first day of the ongoing Monsoon Session. The panel’s review aimed to simplify the language and structure of the Income Tax Act...

August 3, 2025 3:01 PM

Jan Dhan accounts cross 55 crore mark; FM Nirmala Sitharaman urges KYC completion

The number of bank accounts opened under the Pradhan Mantri Jan Dhan Yojana (PMJDY) has crossed the 55 crore mark, with “most of these accounts belonging to people who had never even seen the door of a bank,” Finance Minister Nirmala Sitharaman said on Sunday. In a post on X, the Finance Minister said, “With the programme completing 10 years & these accounts requiring KYCs, I urged the banks to start an initiative of reaching out to people for the same. Since 1st July 2025, banks have...