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White Paper On India’s Economy: NDA Govt’s Comparison To UPA Was Informative, Though Not Complete

Snehashish RoyFebruary 10, 20240

The Union Ministry of Finance recently released a report called 'White Paper on the Indian Economy' which aims to highlight economic issues leading up to the Lok Sabha elections. Although the report is not factually incorrect, it selectively chooses data to showcase the failures of the previous government and the successes of the current government while neglecting the opposite scenarios. For instance, the report mentions that in 2013, Morgan Stanley assessed India as one of the "fragile five" global economies, which is true. However, it fails to mention that India was not among the "fragile five" during the UPA's 10-year rule from 2004 to 2014. India saw the fastest period of growth rate between 2004 and 2009, despite the Global Financial Crisis. Additionally, while the report i...

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Interim Budget 2024: 6 Key Takeaways From Nirmala Sitharaman’s Speech; What Should You Know

Snehashish RoyFebruary 1, 20240

India's interim Budget speech for 2024 was completed by FM Nirmala Sithatraman within an hour. Here are the six key takeaways from the Budget 2024-25 documents based on the revised estimates for the current year and the Budget Estimates for the coming financial year. 1. The government expects the nominal GDP to grow for the coming financial year (2024-25), projecting India's nominal GDP to be Rs 3,27,71,808 crore, assuming 10.5% growth over the estimated nominal GDP of Rs 2,96,57,745 crore in the current financial year (2023-24). 2. The fiscal deficit has been reduced to a 5.8% level and the FM announced similarly ambitious targets for the FY25 — at 5.1% of GDP— and FY26 — at 4.5% of GDP. While this is welcome news, it leads to questions about how fiscal consolidation is being ac...

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Nirmala Sitharaman Won’t Present A Full-Fledged Budget This Year; What’s The Reason?

Snehashish RoyJanuary 24, 20240

The 17th Lok Sabha’s final and short Budget session will take place from January 31 to February 9. Union Finance Minister Nirmala Sitharaman will present the interim budget for 2024-25 on February 1 during the session. However, she will not table the full budget in the Parliament, but only a vote on account or interim budget in the House. The reason for not presenting a full budget this year The Union government presents an Interim Budget in an election year, which shows the expected revenues and expenditures until a new government comes to power. This interim budget helps the government to meet its financial commitments. A new and complete Budget will be announced in July after the formation of the new government. An Interim Budget is also called a ‘vote-on-account’. Acc...

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Allegation Of Amul Entry Into Karnataka To Kill Nandini Is “Brazen”Says, Finance Minister Nirmala Sitharaman: Deets Inside!!!

SHIVANI UJJAINWALApril 25, 20230

Nandini also sold its products in other states such as Kerala, Tamil Nadu, Telangana, and Andhra Pradesh, and its products are also available in Karnataka, according to Nirmala Sitharaman. To suddenly claim that Amul is being brought to Karnataka to murder Nandini is "brazen," Union Finance Minister Nirmala Sitharaman said on Sunday, claiming that the Gujarat-based dairy cooperative entered the state while the Congress was in office. Under the brand name Nandini, the Karnataka Milk Federation (KMF) sells milk, curd, and other dairy products. She claimed that things had been modified, distorted, and turned into an emotional issue because it was election season in Karnataka, where Assembly elections will be held on May 10. "In India's scheme of things, every state has its own milk coo

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“Congress Govt Gave Vizhinjam Port To Adani On A Platter Without Any Tender”: Nirmala Sitharaman Attacks Rahul Gandhi: Deets Inside!

SHIVANI UJJAINWALApril 6, 20230

Nirmala Sitharaman, the finance minister, spoke at a news conference in Bengaluru and said, “If Congress leader Rahul Gandhi thinks Adani has been given "all these things", it's not true.” On Thursday, Nirmala Sitharaman, the minister of finance, took a strong stance against the Congress party and Rahul Gandhi, labelling him a "repeat offender" and claiming that the party had given Adani Group the Vizhinjam Port "on a platter."  In his remarks during a news conference in Bengaluru, the finance minister remarked, “If Cong leader Rahul Gandhi thinks Adani has been given "all these things", it's not true.”  “It was the Congress government in Kerala which gave on a platter Vizhinjam port to Adani; it was not given on the basis of any tender,” she added.  Rahul Gandhi won't say anything

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“Petroleum Products Can Be Brought Under GST Once States Agree”, Says Nirmala Sitharaman: Deets Inside!

SHIVANI UJJAINWALFebruary 16, 20230

According to Union Finance Minister Nirmala Sitharaman on Wednesday, the approval of the council members is required before petroleum items can be included in the GST. “The provision is already available for petroleum products to be brought into the GST. My predecessor had already made the window keep open. Once the states agree we will have the petroleum products also covered under GST. So, that’s not so much us not doing it, and the entire (GST) council saying ‘yes’,” she said.   She made the comments in response to a query while taking part in an interactive post-Budget session of the industry group, PHD Chamber of Commerce and Industry (PHDCCI), in this location. “Not just yes…what they (council members) have to do is to determine a rate and once they tell me the rate, w

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Congress Party’s Culture Is To Benefit ‘Jeejas And Bhatijas’: FM Nirmala Sitharaman In Lok Sabha, Deets Inside!!!

SHIVANI UJJAINWALFebruary 11, 20230

Nirmala Sitharaman, Union Finance Minister, lashed out at Congress on Friday for criticising the government, claiming that the coalition in power does not make decisions with a single person in mind and that "we are not the party that promotes 'jeejas and bhatijas'." The minister responded to accusations made by Congress and stated that they will be "given back in the same language" in her point-by-point responses to the issues posed by opposition members during the union budget debate. Sitharaman responded when an opposition member brought up the budgeted provisions for clean energy while making a reference to the Adani group's ventures into the industry. “Taking my name, they said that Nirmala Sitharaman allotted a certain amount for green for someone. We don’t make policies keepi

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Centre Committed To Privatize Two Public Sector Banks In Current Financial Year: Sitharaman

Arpita SarkarMay 26, 20220

The Central wants to expedite the privatization of two state-owned banks. The necessary government process has already started in this regard. The news agency PTI quoted a source in the center as saying on Wednesday. The Narendra Modi government had earlier amended the Banking Regulation Act to pave the way for private investment in state-owned banks. According to sources, the Center wants to pass a bill in this regard in the upcoming Badal session of Parliament. Initially, two state-owned banks have been listed for liquidation. The Finance Minister Nirmala Sitharaman said last year that the Center wanted to start the process of privatization of several state-owned banks. She said that for this purpose two laws of bank nationalization of 1970 and 1980 and the Bank Control Act of ...

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Why There Is Discussion Of Finance Minister Nirmala Sitharaman In Sri Lanka? Let’s Find Out!

Gunjan ChaudharyApril 22, 20220

Sri Lanka is going through an economic crisis and its Forex is completely exhausted. Inflation has made everyone's life difficult. Fuels like petrol and diesel have been at their peak. The government does not have enough foreign exchange even to buy from outside. LPG gas cylinder is at the cost of 4200 Sri Lankan rupees. The price of sugar has reached 240 Sri Lankan rupees. Rice has reached 220 and Milk Powder 1900 Sri Lankan rupees is being sold per kg. Sri Lanka has declared itself bankrupt. Now, while India is helping Sri Lanka in every way possible, China has asked not to give any concession regarding its debt. In Sri Lanka, there is a sudden discussion about India's Finance Minister Nirmala Sitharaman among people. People are saluting her. Now let us know what actually happen...

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Nirmala Sitharaman: India Continues To Remain With Largest FDI

Gunjan ChaudharyApril 4, 20220

Union finance minister Nirmala Sitharaman said in the Lok Sabha on Monday that India continues to be the largest foreign direct investment (FDI) recipient and Indian retail investors have decided to handle the situation arising out of large amount of FPI withdrawals from the stock markets capacity has been developed. Retail investors have proven themselves Replying to Congress MP Shashi Tharoor's question during Question Hour in Lok Sabha, Sitharaman said foreign investment should not be measured only by FIIs (Foreign Institutional Investors) and FPIs (Foreign Portfolio Investors). She said that the dependence of FIIs and FPIs is on the interest rates and they keep on fluctuating. He said that FIIs and FPIs keep coming and going. But today Indian retail investors have proved that ...

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World Inequality Report Calls India “Poor and Unequal”; Nirmala Sitharaman Calls it “Flawed”.

Sonia SolankiMarch 30, 20220

The latest report by The World Inequality Report calls India a 'poor and very unequal country'. India stands out as a poor and very unequal country with 1% of the top-earning population is holding 22% of the national income. Whereas, the bottom 50% earns 13% of the national income. The report also states that the top 10% of richest people hold 76% of the total wealth, holding 57% of the national income in 2021. The average national income of an adult Indian is approximately Rs 2,04,200. The report was submitted by Lucas Chancel, Co-director of the World Inequality Lab with economist Thomas Piketty, Emmanuel Saez And Gabriel Zucman. Lucas Chancel also said that "the pandemic has exacerbated inequalities between the very wealthy and the rest of the population". The World Map of ...

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Centre Launches E-Billing System To Simplify Business Practices

Pooja YadavMarch 2, 20220

Union minister of finance Nirmala Sitharaman will launch the electronic bill (e-Bill) processing system under the Digital India eco-system and easy doing business. This e-governance initiative was announced within the Budget 2022-23 by Sitharaman. Across all departments and central ministries, the e- Bill system is implemented. Implementing this technique will help in enhancing efficiency, transparency, and a paperless-faceless payment system. Through this technique, contractors and suppliers can submit their claims online and it'll be trackable on a real-time basis. The launch of this electronic bill (e-Bill) processing system will happen in the capital of India as a part of the 46th Civil Accounts Day celebrations. About Electronic Billing Electronic billing also refe...

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