Tag: Nirmala Sitharaman

Business

Nirmala Sitharaman meets heads of insurers – What all Finance Minister mentioned

Finance Minister Nirmala Sitharaman on Saturday reviewed the progress made underneath the Pradhan Mantri Garib Kalyan Bundle (PMGKP) insurance coverage scheme for well being staff preventing COVID-19 and requested insurers to speed up the disbursement of pending claims underneath the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY). Throughout a digital assembly with the heads of insurance coverage firms, she pressured on the significance of streamlining the method and documentation necessities underneath the schemes in order that the claims are disbursed speedily, an official assertion mentioned. See Zee Enterprise Stay TV Streaming Under: The finance minister noticed that underneath the PMGKP scheme, a complete of 419 claims have been paid as on date, amounting to Rs 209.5 crore disburs...
Business

FM Nirmala Sitharaman media briefing LIVE UPDATES: Financial RELIEF MEASURES value Rs 6,28,993 crore introduced for varied sectors

4:20: Financial Aid Measures value Rs 6,28,993 crore introduced for varied sectors. Financial Aid Measuresintroduced for varied sectors Complete: Rs 6,28,993 crore Full breakup shared beneath. pic.twitter.com/ytQ2QGkB0v — Anurag Thakur (@ianuragthakur) June 28, 2021 4:03 pm: Nationwide Export Insurance coverage Account to get extra monetary help over 5 years, which is able to permit NEIA to under-write extra venture exports value Rs. 33,000 crore and  instantly ramp up India's capacity to increase cowl to venture exports. New Credit score Assure scheme to facilitate loans to 25 lakh individuals by means of Micro Finance Establishments The rate of interest on loans from banks to be capped at MCLR plus 2%. Deal with new lending not reimbursement of outdated loans. - Finance Minister @nsithar...
India

One other financial reduction bundle from the Heart amid the Corona interval, Finance Minister Nirmala Sitharaman made these 8 massive bulletins

New Delhi: Union Finance Minister Nirmala Sitharaman on Monday introduced 8 financial measures to cope with the Kovid disaster. He stated, “We're asserting about 8 financial reduction measures, out of which 4 are model new and one is particularly for well being infrastructure. " 50,000 crore for the well being sectorAsserting the financial measures, the Finance Minister stated that there's a credit score assure scheme of Rs 1.1 lakh crore for the sectors affected by Kovid and Rs 50,000 crore has been saved for the well being sector.new credit score scheme Credit score assure scheme (which is a brand new scheme) will profit 25 lakh individuals. Loans will probably be given by micro finance establishments to the smallest debtors. The utmost mortgage to be given is Rs...
Business

RIL, TCS drag Sensex down, Nifty fails to carry file excessive hit on opening; what analysts make of at the moment’s commerce

Throughout intraday, headline indices fell to day's low ranges when Union Finance Minister Nirmala Sitharaman started press convention. BSE Sensex and Nifty settled within the adverse territory, after opening at file highs on Monday. Throughout intraday, headline indices fell to day’s low ranges when Union Finance Minister Nirmala Sitharaman started press convention. BSE Sensex ended decrease at 52,735.59, whereas the broader Nifty 50 index settled in purple at 15,815. Shares of Reliance Industries Ltd (RIL), TCS, Housing Development Finance Corporation (HDFC), contributed essentially the most to indices’ loss. FM Sitharaman introduced Rs 1.1-trillion mortgage assure for COVID-19 pandemic affected sectors. Broader markets outperformed fairness benchmarks. BSE Midcap index gained 0.40 per c...
India

Breakdown of spirit of cooperative federalism at GST Council conferences: Bengal Minister

West Bengal Finance Minister Amit Mitra on Wednesday wrote to Union Finance Minister Nirmala Sitharaman alleging that there was a gentle breakdown of the spirit of cooperative federalism in GST Council conferences.“What pains me probably the most is the truth that the GST Council Conferences have turn into acrimonious, vexing and virtually poisonous with erosion of mutual belief that held previous between States and the Centre since inception,” he stated.He urged her to think about a “course correction” within the method of functioning of the council. “We'll reply in equal measure for those who deliver again consensual environment that has outlined GST Council since its inception,” he famous.Dr. Mitra said that after hours of submission by Ministers, no conclusion and consensus was declar...
India

FM Nirmala Sitharaman asks Infosys to repair all points on new I-T portal on precedence; 5 glitches to be resolved in every week

The Ministry had acquired greater than 700 emails from stakeholders detailing over 2,000 points, together with 90 distinctive points/issues with the brand new portal Finance Minister Nirmala Sitharaman on June 22 requested Infosys to repair all points on the brand new Revenue Tax portal instantly, whereas the software main stated not less than 5 technical glitches, together with viewing previous ITRs and e-proceedings, are anticipated to be resolved inside every week.As quite a few glitches have continued to mar the functioning of the brand new Revenue Tax efiling portal for 2 weeks since its launch on June 7, the Finance Ministry had referred to as Infosys — the seller which developed the location — for a gathering to listen to out stakeholder considerations and recommend remedial me...
Business

Deeply involved with inconvenience attributable to new e-filing portal, dedicated to resolving all points at earliest: Infosys

on Saturday mentioned it's deeply involved with the inconvenience attributable to the technical glitches within the new earnings tax e-filing portal, and it's working to resolve all the problems on the earliest. The brand new portal was launched on June 7, with the I-T division in addition to the federal government saying it was aimed toward making compliance extra taxpayer-friendly. Nevertheless, users complained of technical points whereas utilizing the location from the very first day. Finance Minister Nirmala Sitharaman herself had requested Infosys and its Chairman Nandan Nilekani to repair the technical glitches. On June 9, Infosys had mentioned it expects the system to stabilise in the midst of this week. Finance ministry officers will meet representatives of Infosys on June 22 t...
Business

GST Council Assembly 2021 Consequence updates: Council agrees to five% GST charge on vaccine; approves charge minimize for Remdesivir from 12% to five%

GST Council Assembly 2021 Date: Finance Minister Nirmala Sitharaman will chair the forty fourth GST Council assembly at 11 am as we speak, June 12. The minister is more likely to take name on solutions made by the Group of Ministers (GoM) that was set as much as advocate tax reduction on Covid 19 necessities, together with PPE kits, masks and vaccines. The GoM submitted its report to the GST council on June 7. The GoM was arrange within the earlier assembly of GST council on May 28. Catch all LIVE updates beneath See Zee Enterprise Stay TV Streaming Beneath: The minister is more likely to take name on solutions made by the Group of Ministers (GoM) that was set as much as advocate tax reduction on Covid 19 necessities, together with PPE kits, masks and vaccines. Earlier, information compan...
Business

ECLGS 4.0: Govt extends emergency credit score scheme for MSMEs; will increase ECLGS 1.0 tenor to five years

Extra ECLGS help of as much as 10 per cent has been supplied of the excellent credit score as of February 29, 2020 to debtors lined below ECLGS 1.0.With a view to assist Covid-hit MSMEs additional, the federal government on Sunday introduced a three-month extension of its Rs 3 lakh crore Emergency Credit score Line Assure Scheme (ECLGS) to September 30, 2021, from June 30, 2021, or until ensures for an quantity of Rs 3 lakh crore are issued below the fourth revision of the scheme dubbed ECLGS 4.0. The Ministry of Finance additionally introduced a 100 per cent assure cowl to loans as much as Rs 2 crore to hospitals, nursing properties, clinics, medical schools for establishing on-site oxygen technology crops with the rate of interest capped at 7.5 per cent.The ministry additionally introduc...
Business

GST council assembly UPDATE: MoF varieties 8-member staff to look at tax exemption on COVID-19 materials

A Group of Ministers (GoM) has been assigned to look at the problem of GST concession/exemption to COVID-19 reduction materials. The Ministry of Finance has tweeted the knowledge on May 29. This choice was taken after the GST assembly, which was performed on Friday, May 28. The 8-member staff consists of the chief minister, deputy chief ministers, and finance ministers of States and UTs. The Ministry of Finance tweeted, "As a comply with up of the choice of the GST Council at its forty third assembly, a Group of Ministers (GoM) has been constituted to look at the problem of GST concession/exemption to COVID-19 reduction materials." See Zee Enterprise Dwell TV Streaming Beneath: The deadline to submit the report is until June 08, 2021. The GoM will look at the necessity for GST concession/...