FM’s announcement may help revive investor confidence, boost markets

Finance minister had announced a number of economic measures to revive economic growth through fiscal stimulus. These measures were announced in the backdrop of (a)domestic and global growth concerns (b)weakening demand for India companies and (c)the threat of escalation of tariff war between US and China. The steps announced were such as (a)removing enhanced surcharge… Continue reading FM’s announcement may help revive investor confidence, boost markets

India’s tax administration needs a mindset change: Nirmala Sitharaman

Union Finance Minister has held a meeting with the tax officials.The meeting was aimed to interact with tax officials and taxpayers. Addressing the meeting,she called for inculcating technology-driven approach in dealing with the matters of tax administration. She said that in order to prevent the tax-terrorism,we need to promote faceless assessment and curb the interaction… Continue reading India’s tax administration needs a mindset change: Nirmala Sitharaman

FM Sitharaman meets realtors, homebuyers; govt to tackle liquidity issues, stalled projects

Finance minister has interacted with the industry representatives to understand measures required to remove friction points in the economy. The measures are aimed at ensuring easy availability of funds to productive sectors and stimulate overall growth. The real estate sector has also flagged their concerns regarding the ongoing liquidity crunch,demand slowdown and problem of stalled… Continue reading FM Sitharaman meets realtors, homebuyers; govt to tackle liquidity issues, stalled projects

Financial system has surplus liquidity

Finance Minister and RBI Governor has met for the customary post-budget meeting. The RBI Governor has said that the system has sufficient liquidity and the Union Budget has made provisions to ease the NBFC crisis. In the Budget,the Government has announced a one-time six-month partial credit guarantee window to cover up 10% of losses that… Continue reading Financial system has surplus liquidity

Union Finance Minister Nirmala Sitharaman to address RBI board tomorrow

Finance Minister is scheduled to address the post-budget meeting of the RBI’s central board.She will highlight the key points of the Budget including the fiscal consolidation roadmap. The government has lowered the fiscal deficit target for 2019-20 at 3.3% of GDP from 3.4% set in the Interim Budget presented on February 1, 2019. Fiscal deficit… Continue reading Union Finance Minister Nirmala Sitharaman to address RBI board tomorrow

FSDC reviews economy, financial stability is the underlying theme

Finance Minister has reviewed the state of the economy at the meeting of the Financial Stability and Development Council(FSDC). The meeting reviewed the current global and domestic economic situation and financial stability issues including those concerning banking and NBFCs. The Council was also apprised of the progress made towards setting up of the Financial Data… Continue reading FSDC reviews economy, financial stability is the underlying theme

IBC-type framework for NBFCs, simplified GST among several issues raised with Finance Minister

Finance Minister has held pre-budget discussions with the economists. The economists stressed on the need to (a)promote labour intensive sectors and (b)manufacturing through Make in India. Further,they also suggested simplification of GST,Insolvency and Bankruptcy Code(IBC)-type framework for NBFC,implementation of Direct Tax Code and constitution of independent fiscal policy committee. Economists also gave suggestions on tariff… Continue reading IBC-type framework for NBFCs, simplified GST among several issues raised with Finance Minister

Nirmala Sitharaman to attend G-20 Finance Ministers’ meeting in Japan

Finance Minister will attend the two-day meeting of G-20 Finance Ministers and central bank governors in Japan.The deliberations at this meeting would be followed by the G-20 Leaders Summit scheduled on June 28,2019 at Osaka,Japan. The G-20 finance ministers are likely to discuss issues such as (a)infrastructure investment (b)resilience against natural disasters and (c)strengthening health… Continue reading Nirmala Sitharaman to attend G-20 Finance Ministers’ meeting in Japan

Finance Ministry begins pre-Budget discussions

The finance ministry has begun the pre-Budget consultation exercise with industry bodies in the run-up to the full budget to be unveiled by the new government in July,2019. Recently,the finance Minister had presented the Interim Budget on 1st February 2019. An interim Budget or vote on account means that the government seeks the approval of… Continue reading Finance Ministry begins pre-Budget discussions