The government has already privatised IDBI Bank by selling its majority stake in the lender to LIC in 2019 and merged 14 public sector banks in the past four years.
Siddharth Menon, COO and Co-Founder at WazirX tweeted, “Big day for crypto in India. I am feeling more positive.”
Centre committed to compensate states for 5 years for revenue loss due to GST roll out: Finance Minister Nirmala Sitharaman
Sitharaman said Rs 37,134 crore and Rs 14,664 crore worth GST compensation is yet to be released to states for 2020-21 and 2021-22 fiscal years respectively.
The Bill seeks to create a facilitative framework for the creation of the official digital currency to be issued by the Reserve Bank of India (RBI) for the ongoing winter session of Parliament.
The government has listed Cryptocurrency and Regulation of Official Digital Currency Bill 2021 in the ongoing winter session of Parliament.
The association, in its letter addressed to the FM, requested Sitharaman to consider "the pain and agony" the industry is going through due to "extreme taxation and also GST being levied at 18%.
Will get back all money taken away from banks as govt actively pursuing cases of loan defaulters: FM Nirmala Sitharaman
FM Nirmala Sitharaman said she will ensure more banking activities take place in J&K and credit help to the people in setting their businesses.
RAI said that the 7 per cent hike has been proposed to address the issue of inverted duty structure in the textile industry faced by a small segment of the total textile value chain.
Union Finance Minister Nirmala Sitharaman on Monday arrived here on her first visit to Jammu and Kashmir after the abrogation of Article 370 and inaugurated projects worth Rs 165 crore.
Apart from the secretaries, ministers of state for finance Pankaj Chaudhary and Bhagwat Kishanrao Karad will also join the discussions, according to a government statement.
Talking about India's dependence on imports, even on essential items like PPE kits, Sitharaman said the private sector has to walk the extra mile to support growth momentum.
Finance Secretary TV Somnathan, however, assured that the frontloading to devolution does not mean states are short of cash and most of the states maintain positive cash balance.
The meeting comes in the backdrop of strong economic recovery post the two COVID waves, and push by the central government to increase capital expenditure.
Going by the government’s own projection this number is expected to go up further to be Rs 8.1 lakh crore in FY22, up by 16.9% year-on-year (YoY).
In Budget 2021-22, the finance minister had increased the capital expenditure to Rs 5.54 lakh crore – 26% more than the revised estimate of Rs 4.39 lakh crore for 2020-21.