Nirmala Sitharaman
Sitharaman meets IMF's Gita Gopinath, discusses downside risks to economy
The meeting took place on Tuesday on the sidelines of the IMF-World Bank Spring Meetings. According to the Finance Ministry, Sitharaman congratulated Gopinath for accelerating India's work on the Global Sovereign Debt Roundtable along with the World Bank and reiterated New Delhi's commitment to foster efforts to address growing debt vulnerabilities.
Total amount of cess and surcharge grew by 63.74% from 2017-18 to 2022-23
Collections under GST Compensation Cess grew by 107.6 per cent from 2017-18 to 2022-23 (RE), Finance Minister Nirmala Sitharaman told the Lok Sabha in a written reply. The Minister saidthat in the case of GST Compensation Cess, the proceeds of the cess leviable is initially credited to the Consolidated Fund of India, in terms of Article 266.
Sitharaman to meet public sector banks chiefs on March 25
This would be the first meeting of the Finance Minister with banks' chiefs after the presentation of the budget, where, according to sources, the discussion is likely to be on the areas highlighted by the budget. Sitharaman is also likely to review the credit flow to key sectors like agriculture, sources in the know of things said.
Nirmala Sitharaman meets French FM Bruno Le Maire
Both the leaders agreed to extend the growing economic cooperation between the two countries to new areas like renewable energy, infrastructure and green cities. The ongoing problems due to debt vulnerabilities of several nations also featured during the discussion between the two leaders.
Youths investing in crypto: Campaign continues to inform on high risk, says Sitharaman
Rahul, a commerce second year student in Jaipur, invested Rs 5,000 and got Rs 1 lakh plus in return a few months later in 2022. Soon after, his cousins and friends started investing their pocket money into it and the trend continues even today. His cousin also invested a huge amount, however the currency tumbled soon after. It was his college fees and he had to face problems.
IRDAI should set up a committee to review its regulations: Experts
They also said the said committee should have representation from all the regulated entities and policyholders. Industry officials told IANS that the Regulations Review Committee (RRC) and the various sub-groups set up by the two insurance councils -- Life Insurance Council and General Insurance Council -- does not have proper representation from major stakeholders.
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.
Budget Effect: About 15% premium impact on some private life insurers
In a research report, Emkay Global's insurance sector analysts Avinash Singh and Mahek Shah said the Rs 5 lakh cap is likely to affect growth of about 10 per cent premium base for HDFC Life Insurance and Max Life and about 5 per cent premium base for SBI Life Insurance and ICICI Prudential Life Insurance.
Move to new tax regime stokes concern over investments in insurance, mutual funds
Ravi Kumar, Founder & CEO, Upstox said to encourage more retail investing and insurance adoption, "we wish that the Finance Minister would increase tax savings for investments and reconsider the proposal to discontinue the tax SOPs on mutual funds and insurance".
Large potential to be tapped in tourism: Finance Minister in budget speech
To enhance the tourist experience, an application will be launched where all relevant aspects of the tourist destination would be provided in addition to aspects such as physical and virtual connectivity, tourist guides, high standards for food streets, and tourists' security.
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