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[ad_1] Nirmala Sitharaman talked about the facilities the government wants to extend to the poor. (File) Washington: India's focus is going to be on skilling and digitisation so that there's greater ease of living, transparency and formalisation of the economy, Union Finance Minister Nirmala Sitharaman has said, observing that the country is reaching near saturation in providing the basic facilities to the people. Speaking at a fireside chat at the Peterson Institute for International Economic think-tank on Monday, Nirmala Sitharaman said the approach of the government is to empower the poor people with at least the basic amenities. "We are reaching near saturation in providing the basic facilities in India," she said. She noted that the discussions earlier used to be on poverty alleviation. "Have we removed these many numbers of people from poverty and lifted them out," she said. Nirmala Sitharaman talked about the facilities the Indian government is w

[ad_1] BHUBANESWAR: Union finance minister Nirmala Sitharaman made it clear on Friday that the Centre will not consider demands for “special category status” for any state, dealing a major blow to states like Odisha and Bihar who have been pushing for it for some years now. Asked whether the Centre will consider Odisha’s push for special category status, the FM, who was interacting with the media here on the Union Budget, said, “(The 14th) Finance commission has clearly said no special status can be given.” Taking examples of Andhra Pradesh and Telangana, which were given special category status in the initial years after bifurcation, she said, “But the finance commission’s clear opinion is no more special status category.” Odisha and Bihar have been pressing for special category status to avail 90% funds in centrally sponsored schemes, instead of the present arrangement of 60%, besides other benefits. Odisha has been seeking change in criteria to accommodate it keeping in mind

[ad_1] New Delhi:  Finance Minister Nirmala Sitharaman on Friday said India's economic growth in the first quarter of this fiscal should be good and that the government's priority is to tame inflation, which has touched a 15-month high. Addressing business leaders in the national capital, she said that green shoots of private capital expenditure upcycle can be palpably felt as the government's enhanced capital expenditure is now crowding in private sector investments. While mentioning the key priorities of the government, Sitharaman also stressed that the focus is on Aatmanirbhar Bharat (self-reliant India) but essential imports will not be stopped. ( Also Read: Secure Your Future With Just Rs 210 Monthly: Get Rs 5,000 Pension Per Month With This Govt Scheme ) She also emphasised the need for diversification of supply chains at the earliest to avoid shocks. Noting that India is the fastest-growing major economy, she said that in another few days, the GDP numbers f

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[ad_1] NEW DELHI: Finance minister Nirmala Sitharaman on Saturday said GST implementation has brought relief to the common citizens and helped raise revenues of the Centre and the states as her ministry reported that gross GST revenues in June rose 12% to Rs 1.6 lakh crore. Data released by the finance ministry showed that gross GST revenues crossed the Rs 1.6 lakh crore mark for the fourth time since the implementation of the tax reform on July 1, 2017. Collections have been Rs 1.4 lakh crore for 16 months in a row and Rs 1.5 lakh crore for the seventh time since the rollout. The average monthly gross GST collection for the first quarter of financial year 2021-22, FY 22-23 and FY 23-24 are Rs 1.1 lakh crore, Rs 1.5 lakh crore and Rs. 1.7 lakh crore, respectively, according to a finance ministry statement. At the GST Day function, Sitharaman said, "Now the collections have improved. The new normal is being talked about. If only the fake invoices and the fraudulent claims,

[ad_1] Nirmala Sitharaman underlined the need for continuing the momentum to fuel economy. (File) New Delhi: Finance Minister Nirmala Sitharaman on Saturday said the public sector banks' profit in the last nine years has tripled to Rs 1.04 lakh crore due to initiatives taken by the government and underlined the need for continuing the momentum to fuel economy. The net profit of public sector banks (PSBs) has almost tripled to Rs 1.04 lakh crore in FY23 from Rs 36,270 crore in FY2014. Inaugurating the corporate office of Punjab and Sind Bank in Delhi, the minister said that banks need to "build on laurels" by following the best corporate governance principles. "Banks should not sit back and revel in success. They should follow best corporate governance practices, adhere to regulatory norms, ensure prudent liquidity management and continue to focus on having robust asset-liability and risk management," she said, stressing that the Indian economy has moved awa