Speed up vehicle scrapping: Finance Minister

Nirmala Sitharaman said that enhanced capital expenditure will play a critical role in revitalising the economy post-pandemic Finance and Corporate Affairs Minister Nirmala Sitharaman has called for expediting the implementation of the vehicle scrappage policy and improving the data as well as road connectivity in hilly regions and aspirational districts of the country. At a … Read more

G7 nations reach historic deal to tax big multinationals

The Group of Seven said it would back a minimum global corporation tax rate of at least 15%. A group of the world’s richest nations reached a landmark deal on Saturday to close cross-border tax loopholes used by some of the world’s biggest companies. The Group of Seven said it would back a minimum global … Read more

Finance Minister to meet heads of insurers on June 5

Discussions are also likely to be held on simplifying the procedures and documentations needed to settle claims under the schemes in a seamless and time-bound manner. Finance Minister Nirmala Sitharaman will hold a meeting with heads of public and private sector insurers on Saturday for faster settlement of claims under the Pradhan Mantri Jeevan Jyoti … Read more

Finance Minister Nirmala Sitharaman to hold GST Council meeting on May 28

Finance minister Nirmala Sitharaman will hold the next Goods and Service Tax Council meeting on May 28, via video conferencing, she said in a Twitter post on Saturday. “Smt Nirmala Sitharaman will chair the 43rd GST Council meeting via video conferencing at 11 AM in New Delhi on 28th May 2021,” the Twitter post said. … Read more

Finance Minister Nirmala Sitharaman to hold GST Council meeting on May 28

Issues such as Inclusion of petroleum products under the GST regime, levies on critical COVID-19 supplies, vaccines are to be taken up Finance Minister Nirmala Sitharaman on May 15 announced that the Goods and Services Tax (GST) Council will meet in the capital at 11 a.m. on May 28. The GST Council last met in … Read more

My first concern is liquidity, which is the biggest risk, says Palanivel Thiagarajan

Finance Minister raises doubts over substantial excise revenue having gone ‘missing’; he says cash assistance doesn’t amount to freebies Finance Minister P.T.R. Palanivel Thiagarajan, who has been given the task of reviving and restructuring the State’s economy by Chief Minister M.K. Stalin, says he is first getting his liquidity model worked out while focusing on … Read more

The Right Mix of Political Verve and Pragmatism: TN's New Finance Minister Believes in Breaking Moulds

He is barely into his office as Finance Minister for Tamil Nadu but PTRP Thiagarajan is already giving it a burnish and action bias. Thiagarajan, the successful Wall Street veteran whose family name resonates with the southern temple city Madurai, is taking over state coffers at a time finances have been clobbered by the coronavirus … Read more

FM asks IRDAI to take action against insurers denying cashless COVID-related claims

New Delhi (PTI): Finance Minister Nirmala Sitharaman on Thursday asked IRDAI chairman S C Kunthia to “act immediately” to address the complaints of denial of cashless claims by insurance companies. She also mentioned that more than 9 lakh COVID-related claims for ₹8,642 crore have been settled by insurance companies. “Reports are being received of some … Read more

Coronavirus | Extend compliance timelines, India Inc. tells Finance Minister

Amid spike in cases, stakeholders ask Nirmala Sitharaman to extend the same measures as last year. Industry leaders have urged the government to extend timelines for compliances under corporate and taxation laws and consider repeating some of the support measures announced for businesses after the national lockdown in March 2020, given the fresh spate of … Read more

Salary income of Indian workers in Gulf exempt from I-T, says Nirmala Sitharaman

In response to Trinamool MP Mahua Moitra’s tweet, the Finance Minister said that the Finance Act 2021 has not brought in any new or additional tax on Indian workers in Saudi/U.A.E/Oman/Qatar. Finance Minister Nirmala Sitharaman on Thursday said salary income earned by non-resident Indians in Gulf countries would continue to be exempt from tax in … Read more