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HTLS 2020: Economy witnessed consistent recovery in last two months, says finance minister Nirmala Sitharaman
By hindustantimes.com | Edited by: Amit Chaturvedi | Hindustan Times, New Delhi
UPDATED ON DEC 04, 2020 06:50 PM IST
HTLS 2020: Nirmala Sitharman talked about the state of the economy, what the government is doing to control the inflation and when can proper recovery begin.
‘Measly compared to other major economies’: CPI(M) slams new stimulus package
By Press Trust of India | Posted by Nilavro Ghosh | New Delhi
PUBLISHED ON NOV 13, 2020 08:06 PM IST
“The reality is that the sum total of direct extra governmental expenditures is, by liberal estimates, Rs 3,72,295 crore or a mere 1.9% of the GDP,” the CPI(M) said in a party statement.
France may reverse bookstore closures amid lockdown anger
By Bloomberg | Posted by Mallika Soni | Paris
PUBLISHED ON NOV 02, 2020 04:07 PM IST
France went into a second national lockdown on Friday as a surge in cases risks overwhelming the health system.
The deepening of economic bond between India, UK | Opinion
By Jan Thompson
UPDATED ON NOV 01, 2020 10:31 PM IST
Through this raft of new initiatives and so much more besides — including joint investment of up to £8 million to lead pioneering research on Covid-19 — the UK and India are truly setting out a stretching economic agenda.
India’s growth this year will be negative or near zero, says finance minister Nirmala Sitharaman
By Press Trust of India | Posted by Nilavro Ghosh | New Delhi
PUBLISHED ON OCT 27, 2020 06:13 PM IST
Speaking at the India Energy Forum of CERAWeek, she said there was a “very firm lockdown” imposed beginning March 25 as the government put lives before livelihood.
How Centre borrowing Rs 1.1 lakh crore will impact states, Nirmala Sitharaman explains in a letter
By hindustantimes.com | Edited by Poulomi Ghosh | Hindustan Times, New Delhi
UPDATED ON OCT 16, 2020 03:42 PM IST
“I am well aware of the financial difficulties that the states are facing,” the finance minister wrote.
Door still open for states, says govt on GST dues row
By HT Correspondents | Hindustan Times, New Delhi
UPDATED ON OCT 14, 2020 05:49 AM IST
The finance ministry functionary, who asked not to be named, added that while the government will discuss any workable proposal the nine states bring at the Goods and Services Tax (GST) Council with an open mind, it cannot stop 22 other states from borrowing from the market against their future compensation cess dues.
No consensus on GST; 21 states can start borrowing
By Rajeev Jayaswal | Hindustan Times, New Delhi
UPDATED ON OCT 13, 2020 04:40 AM IST
Briefing reporters after the meeting, council chairperson and Union finance minister Nirmala Sitharaman late on Monday said: “We were not able to arrive at a consensus.”
News updates from Hindustan Times: After massive outage, power restored in most parts of Mumbai and all the latest news
By hindustantimes.com | Hindustan Times, New Delhi
UPDATED ON OCT 12, 2020 05:07 PM IST
Here are today’s top news, analysis and opinion. Know all about the latest news and other news updates from Hindustan Times.
States should stand firm, reject Centre’s options on GST compensation cess: Chidambaram
By Press Trust of India| Posted by Susmita Pakrasi | New Delhi
PUBLISHED ON OCT 06, 2020 03:23 PM IST
At its meeting on Monday, the GST Council failed to reach a consensus on ways to compensate the states for the loss of tax revenue.
Dearness allowance: Has DA hike suspension order been withdrawn? Centre clarifies
By hindustantimes.com | Edited by Poulomi Ghosh | Hindustan Times, New Delhi
UPDATED ON SEP 30, 2020 09:27 PM IST
The Centre has not withdrawn its earlier order of DA hike suspension. Government employees and pensioners will continue to get their DA at 17 per cent rate of their basic pay, or pension, instead of 21 per cent.
Not being risk-averse in face of Covid-19 crisis: FM Nirmala Sitharaman
By R Sukumar | Hindustan Times, New Delhi
UPDATED ON SEP 29, 2020 04:58 AM IST
Nirmala Sitharaman said that while the decline in GDP in the first quarter of 2020-21, at 23.9%, has been substantial, she does not want to conclude anything about the entire year’s number just yet.
‘Like this condescension’: Nirmala takes on Opposition over ‘Act of God’ remark
By Press Trust of India | Posted by Shankhyaneel Sarkar | New Delhi
UPDATED ON SEP 19, 2020 12:30 AM IST
Speaking in Lok Sabha, Sitharaman -- who is also the country’s first woman finance minister -- said her remark is being criticised also because she “looks like a neighbourhood aunty” and asserted that twisting her comment is irresponsible.
Banks to roll out stressed loans resolution scheme by Sept 15
By Rajeev Jayaswal | Hindustan Times, New Delhi
PUBLISHED ON SEP 03, 2020 07:17 PM IST
Finance minister Nirmala Sitharaman asked banks and NBFCs to factor in Covid-19 related distress to assess creditworthiness of the borrowers when rolling out their resolution schemes for stressed borrowers.
Income-tax officials must serve taxpayers as committed in the charter: Sitharaman
By Rajeev Jayaswal | Hindustan Times, New Delhi
PUBLISHED ON AUG 14, 2020 11:45 PM IST
The finance minister thanked revenue officials for their efforts in implementing the faceless assessment system to curb outreach by taxmen and urged them to work with the same zeal to accomplish the faceless appeal system, two key reforms in lines with the charter.
Finance minister Nirmala Sitharaman directs PSUs to spend 50 per cent of Rs 1.24 crore capex by Sept 30
By HT Correspondent | Hindustan Times, New Delhi
PUBLISHED ON AUG 14, 2020 11:38 PM IST
The seven central public sector enterprises (CPSEs) belonging to ministries of shipping, road transport and highways; housing and urban affairs; defence; and communications have spent Rs 24,933 crore in the first four months of current financial year (FY), which is little less than 20% of the planned outlay, it said.
PM Modi to launch platform to honour honest taxpayers
By HT Correspondent | Hindustan Times, New Delhi
PUBLISHED ON AUG 13, 2020 06:07 AM IST
A finance ministry spokesperson said the government has been implementing a series of tax reforms since last year when it had drastically reduced the corporate tax rate for existing and companies taking a hit of Rs 1.45 lakh crore.
Canadian finance minister’s job appears unsure, markets fret over distraction
By Reuters | Posted by Prashasti Singh | Ottawa/Toronto
PUBLISHED ON AUG 11, 2020 09:52 PM IST
The Globe and Mail cited unnamed sources as saying Trudeau was uncertain whether Morneau was the right person to handle the recovery. Morneau was unhappy at how much money Trudeau wanted to spend to deal with the outbreak, it added.
Bank fraud case: ED raids former J-K minister’s son Hilal Rather
By Press Trust of India| Posted by Susmita Pakrasi | New Delhi
UPDATED ON AUG 06, 2020 03:35 PM IST
The central probe agency has field a money laundering case against Hilal Rather and others, under the Prevention of Money Laundering Act (PMLA), taking cognisance of a CBI FIR and Income Tax Department probe against him and pertains to a Rs 177-crore alleged bank fraud scam.
Govt to come out with strategic sectors list soon: Nirmala Sitharaman
By Press Trust of India| Posted by Susmita Pakrasi | New Delhi
PUBLISHED ON AUG 01, 2020 04:40 PM IST
As part of the ‘Aatmanirbhar Bharat Abhiyan’ package, the finance minister in May had announced that there will be a maximum of four public sector companies in strategic sectors, and state-owned firms in other segments will eventually be privatised.
GST Council to discuss AG opinion on compensation: Nirmala Sitharaman
By Press Trust of India| Posted by Susmita Pakrasi | New Delhi
PUBLISHED ON AUG 01, 2020 04:16 PM IST
The finance minister was responding to a question on apprehensions raised by certain states about the reported AG opinion on GST compensation.
WE Charity controversy: Trudeau’s finance minister to be investigated
By Anirudh Bhattacharyya | Edited by: Shankhyaneel Sarkar | Hindustan Times, Toronto
UPDATED ON JUL 17, 2020 08:20 AM IST
WE Charity which was given the contract to administer a nearly one billion dollar programme was originally stated to be in line for a payment of CA $ 19.5 million, but that amount could have touched CA $ 43.53 million.
Centre releases Rs 6,195 crore in grants for 14 states
By HT Correspondent | Hindustan Times, New Delhi
PUBLISHED ON JUL 09, 2020 03:56 AM IST
The 14 states include Andhra Pradesh, Assam, Kerala, Tamil Nadu and West Bengal among others.
Cabinet approves agri fund, rental scheme for migrants
By HT Correspondent s | Hindustan Times, New Delhi
UPDATED ON JUL 09, 2020 01:20 AM IST
Finance minister Nirmala Sitharaman announced both plans in May as part of the Rs 20 lakh crore economic stimulus and relief package announced by Prime Minister Narendra Modi to fight the slowdown caused by the Covid-19 pandemic and the ensuing lockdown.
PSBs disburse Rs 56,091 crore in credit to MSMEs
By HT Correspondents | Hindustan Times, New Delhi, New Delhi
PUBLISHED ON JUL 08, 2020 05:41 AM IST
The Rs 3 lakh crore emergency credit facility was announced by the finance minister on May 13 as a part of the Aatmanirbhar Bharat Abhiyan.
CEA sees V-shaped recovery if Covid-19 is contained
By Bloomberg | Posted by: Shankhyaneel Sarkar
UPDATED ON JUN 23, 2020 01:48 PM IST
Krishnamurthy Subramanian also said that measures taken by the Centre will uplift the economy.
Will ensure banks pass on rate cut benefits to consumers: FM to India Inc
By Press Trust of India | New Delhi
UPDATED ON JUN 19, 2020 07:58 PM IST
Last month, the RBI slashed the benchmark repurchase (repo) rate, the price at which banks borrow from the central bank, by 40 basis points to a historic low of 4 per cent.
Small business gets GST compliance relief
By Rajeev Jayaswal | Hindustan Times, New Delhi
UPDATED ON JUN 13, 2020 08:16 AM IST
Finance minister Nirmala Sitharaman said the council has slashed the interest rate by half for non-compliance by small businesses having a turnover of up to Rs 5 crore. Small taxpayers who missed filing returns for February, March and April due to the pandemic will not be charged any interest till July 6.
Podcast: Roshan Kishore on India’s flagging economy, the impacts of the lockdown, and the government’s policy response
By Hindustan Times
UPDATED ON MAY 27, 2020 07:49 AM IST
Two weeks ago, the Modi government announced a series of economic measures intended to get the Indian economy back on track after the country’s prolonged lockdown in the wake of the covid-19 crisis.
Refunds worth Rs 26,242 crore processed since April 1, says tax department
By hindustantimes.com | Edited by: Amit Chaturvedi | Hindustan Times, New Delhi
UPDATED ON MAY 22, 2020 03:07 PM IST
Finance Minister Nirmala Sitharaman had announced a slew of measures to tide over Covid-19 crisis last week including slashing of TDS/TCS rate for non-salary payments by 25 per cent.