Nirmala Sitharaman
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Make in India Boost: National Manufacturing Mission Set to Launch
Presenting the Union Budget 2025-26, the Finance Minister stated that the National Manufacturing Mission would support clean tech and build an ecosystem for the local production of solar cells, EV batteries, and high-voltage transmission equipment.
Jobs are the Most Pressing Global Issue During US Visit, FM Sitharaman
Speaking to the plenary lunch of the International Monetary Fund and the World Bank annual meetings in Washington, DC, she said that the World Bank had undertaken several studies on sectoral trends and their probable impacts on employment over time-things like 'green jobs,' jobs after AI, and changes in employment due to demographic shifts.
Centre Disburses ₹1,78,173 Crore to States as Tax Devolution for Festive Season
It is also seen that out of the states Uttar Pradesh accounted for Rs 31,962 crore, Bihar for Rs 17,921 crore, Madhya Pradesh for Rs 13,987 crore, Maharashtra for Rs 11,255 crore, West Bengal for Rs 13,404 crore, Rajasthan for Rs 10,737 crore, Odisha for Rs 8,068 crore, Andhra Pradesh for Rs 7,211 crore and Telangana for Rs 3,745 crore.
Banks must use UPI to create more digital opportunities to empower millions, Says Sitharaman
Speaking at an event in Pune, the Finance Minister said that a robust banking system can help achieve economic growth, social progress, and environmental sustainability, and as UPI spreads its wings, the banks can thrive along with it too. Based on the encouraging response received from several countries, the RBI is now focusing on making "UPI and RuPay truly global.".
PMJDY Emerges as Global Leader in Financial Inclusion, Says Nirmala Sitharaman
The Finance Ministry said the number of PMJDY accounts has increased 3.6 times, from 156.7 million in March 2015 to 531.4 million as of August 14. Union Finance Minister Nirmala Sitharaman said that everyone must be given access to formal banking services universally and at affordable costs if the country is aiming for financial inclusion or financial empowerment. This, she said, mainstreams the economically deprived sections and is essential for the development of such denied sections of society.
FM Sitharaman Reports 53 Crore Jan Dhan Accounts Established Over a Decade
Sitharaman added that the average balance per account has also increased substantially from Rs 1,065 in March 2015 to Rs 4,352 as of today, of which around 80 percent of these accounts are operative. She said, "66.6 percent of total accounts have been opened in rural and semi-urban areas and 29.56 crore accounts are held by women," indicating large-scale operability of PMJDY accounts. She maintained that a very small percentage of accounts has zero balance-only 8.4 percent-and there has been no requirement for maintaining minimum balance in the accounts under the scheme.
Indian economy is on upswing, says Finance Ministry
"The month saw impressive milestones being reached, substantial growth in GST collections, and a significant rise in e-way bill generation, pointing to an overall increase in economic activity. The stock market indices also reached record highs in July," it states. On balance, India's economic momentum remains intact.
FM Sitharaman Calls for Increased Deposits and Enhanced Lending by Banks
After the post-Budget meeting with the RBI's Central Board of Directors, she was briefing media on how the banks had "distracted" themselves from their core business — deposits mobilisation and loan disbursement.
PM Jan Dhan and Basic Savings Accounts Exempt from Minimum Balance Requirements: FM Sitharaman
She made this statement while replying to a question in the Rajya Sabha on the recovery of about ₹8,500 crore as penalties by public sector banks during the last five years from their customers for not maintaining minimum balance.
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