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Politics

States to decide when petroleum products to be taxed under GST: Nirmala Sitharaman

KOLKATA: Union Finance Minister Nirmala Sitharaman on Sunday said that petrol and petroleum products are already under Goods and Services Tax (GST) and the states have to decide when they want them to be taxed under the regime. “Whenever the states are ready to bring in petroleum under the GST, another amendment will not be …

Politics

Govt seeks to engage itself with businesses, industries: Nirmala Sitharaman

KOLKATA: Union Finance Minister Nirmala Sitharaman on Sunday said that the government wants continuous engagement with industries and businesses and will act as a facilitator for hassle-free payments of taxes. She was interacting with the members of trade and industries here, a week after presenting the Union Budget for 2020-21 in Parliament on February 1. …

Politics

Income Tax Slabs: Government intends to have a simplified tax regime, says Nirmala Sitharaman | India Business News

NEW DELHI: Finance minister Nirmala Sitharaman on Friday said that the government has introduced taxpayers’ charter in the Union Budget 2020 as it intends to bring in a simplified taxation regime. Briefing the media following an interaction with industry representatives and economists, Sitharaman said taxation regime should be on the basis of trust with citizens …

Politics

Budget 2020 provides ‘discreet and considered’ stimulus: Nirmala Sitharaman

MUMBAI: Finance minister Nirmala Sitharaman on Friday said the Budget presented by her last week provides a “discreet and considered” stimulus. Speaking to industry representatives in the financial capital, Sitharaman said the Budget draws on experiences of all the past instances of a slowdown in growth where the government has had to provide for a …

Politics

Nirmala Sitharaman: Finance minister exhorts industry to shun hesitation, make investments to drive economic growth

NEW DELHI: Finance minister Nirmala Sitharaman on Tuesday said the industry needs to “shun hesitation” and make investments to drive the country’s economic growth. In a post Budget interaction at a CII event, the minister said the government was there to facilitate the industry. “I don’t think in today’s condition it can be just government …

Health

A long shot at growth: Can FM Nirmala Sitharaman’s 161-minute budget revive economy?

The burden of two failed budgets of the past weighed on Union Finance Minister Nirmala Sitharaman as she got down to delivering her 161-minute speech – the longest by any finance minister – in Parliament on Saturday. Piyush Goyal’s Interim Budget 2019 and Sitharaman’s full Budget in the same year had failed to revive the …

Politics

‘Taxpayer charter’ on cards to build trust, reduce harassment; wealth creators will be respected: Nirmala Sitharaman

NEW DELHI: Direct tax body CBDT will adopt a “taxpayer charter” which will ensure trust between a taxpayer and the administration and reduce harassment, finance minister Nirmala Sitharaman said on Saturday. “Wealth creators will be respected in this country,” Sitharaman said in her 2020-21 Budget speech. She said an important aspect of both ease of …

Politics

Govt intends to remove all income tax exemptions in long run: Nirmala Sitharaman

NEW DELHI: After slashing income tax rates for individuals on condition that they give up exemptions and deductions, finance minister Nirmala Sitharaman on Saturday said the government intends to remove all I-T exemptions in the long run. Speaking at a press conference after presenting her second Budget in the Lok Sabha, she said income tax …

Health

5 tasks cut out for Nirmala Sitharaman in her first full Budget

Union Budget 2020-21 will be the first full budget that Union Finance Minister Nirmala Sitharaman will present in Parliament on Saturday. This comes at a very difficult time for the Indian economy, which is on a downward spiral for the past six consecutive quarters. The GDP growth rate is at a six-year low, the nominal …