Finance Minister
FM Nirmala Sitharaman addresses central board of RBI, reviews economic situation
She gave these directions while addressing the central board of directors of the Reserve Bank of India (RBI). The board also reviewed the global and domestic economic situation, and associated challenges, official sources said.It is customary for the Finance Minister to address RBI's board after the presentation of the Union Budget every year.
Tea sector unhappy over total negligence in Union Budget
According to the Darjeeling Tea Association (DTA)'s principal advisor S. Mukherjee, the tea sector was probably the only industrial segment which was not spared even a word as regards to any industry stimulation package or subsidy.He pointed out that even the recommendations of the Parliamentary Standing Committee of Commerce & Industry for a one- time package for the revival of the tea sector in Darjeeling was also ignored.
New small saving scheme for women in Budget, deposit limit for senior citizens scheme hiked
For empowerment of senior citizens, the Finance Minister said: "The maximum deposit limit for senior citizen savings scheme will be enhanced from Rs 15 lakh to Rs 30 lakh. Further, the maximum deposit limit for the monthly income account scheme will be enhanced from Rs 4.5 lakh to Rs 9 lakh for single account and from Rs 9 lakh to Rs 15 lakh for joint account."
Demand sustaining, investment inducing and growth-oriented Budget: PHDCCI
"Budget 2023-24 has been announced at a time when India finds itself in the bright spot as the growth of Indian economy is highest among the leading economies," said Saket Dalmia, President, PHDCCI, while reacting to the Budget that was presented in the Parliament by Finance Minister Nirmala Sitharaman on Wednesday.
Budget 2023-24: 'A growth budget focussed on good harvest'
"The Budget has proven to showcase that the future of the agriculture sector in the country is bright, with its well-researched, and nuanced focus towards the sector," said Karthik Jayaraman, Co-Founder and Managing Director, WayCool Foods and Products Ltd, a food and agri-tech platform.
Know the architects of Union Budget
Nirmala Sitharaman will be presenting her fourth Union Budget on February 1. She has helmed the Finance Ministry during the two tumultuous years of Coronavirus pandemic and has piloted several economic relief packages, to help tide over the challenges posed by the pandemic.
Pakistan's Finance Minister rubbishes reports of suspected default
Ishaq Dar emphasized that despite being in a tough financial position, Pakistan will not default and will also be successful in getting the next tranche of the International Monetary Fund (IMF) and remain in the IMF's Extended Funding Facility (EFF) program in the coming days.
Income tax exemption limit likely to be enhanced to Rs 5 lakh in budget
The move, if it fructifies, may leave more disposable income in the hands of consumers. It will also boost consumption, which may also lead to an economic recovery, sources said. As of now, the maximum slab of income which is not chargeable to income tax is Rs 2.5 lakh.
Government keeping watch on inflation: Nirmala Sitharaman
Responding to a discussion on Supplementary Demands for Grants in the Rajya Sabha, Nirmala Sitharaman said that wholesale price index (WPI) based inflation has slid to a 21-month low. Retail inflation also fell to a 10-month low of 5.88 per cent in November 2022, after remaining beyond the RBI's upper tolerance level of 6 per cent.
Finance Minister says need to simplify refund process for depositors
Replying to a question by NCP member Supriya Sule during Question Hour in tnhe Lok Sabha on writing off of bad loans and their recovery and problems faced by depositors, Sitharaman said: "Unfortunately, the processes (of recovering money) are so layered that by the time justice is sought to be delivered, many of the small depositors are put to extreme difficulty. There is definitely a need to look at how we can simplify the process without denying justice."
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