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The Latest Breaking News from Nirmala Sitharaman

Communists in country are total cowards: FM Sitharaman

Finance Minister Nirmala Sitharaman labeled communists as "cowards" in the Rajya Sabha. She accused CPI(M) member John Brittas of spreading confusion regarding UPI payment fees. Brittas alleged US pressure influenced the government's decision on charging UPI fees. Sitharaman stated that communists lack the courage to face facts and listen. The…

The Economic Times

Parliament clears taxation bill, Sitharaman says UPI transactions to remain free

Parliament has passed the Taxation and other Laws (Amendment) Bill. Finance Minister Nirmala Sitharaman confirmed UPI will remain free for consumers. The legislation removes the linkage between payment systems and income tax. It also provides legal backing to modify zero-MDR frameworks for digital transactions. The bill aims to attract foreign…

The Economic Times

Parliament passes Bankers' Books Evidence Bill to recognise digital banking records as legal evidence

Parliament has approved the Bankers' Books Evidence Bill, 2026, marking a significant advancement in accepting digital records within the banking sector. This contemporary law nullifies the obsolete 1891 Act, allowing for electronic documentation to be admitted as evidence, provided its integrity can be vouched for. Furthermore, it offers improved legal…

The Economic Times

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Opposition stages walkout in Rajya Sabha

Opposition members staged a walkout from the Rajya Sabha on Monday. They were protesting after their attempts to raise issues were disallowed by the Chair. Finance Minister Nirmala Sitharaman moved The Bankers' Books Evidence Bill, 2026, for discussion. The Bill seeks to update legal frameworks for bank records in the…

The Economic Times

'Dubious claims': Congress' Jairam Ramesh hits back at Nirmala Sitharaman on taxation bill

Jairam Ramesh countered Nirmala Sitharaman's claims regarding a new taxation bill. He stated government assurances do not replace statutory safeguards for UPI. Ramesh argued that MDR charges would inevitably affect consumers and small businesses. He questioned why RBI's capacity to support UPI without charges is ignored. The bill removes zero-MDR…

The Economic Times

India on track to exceed key fundraising goal on state-firm stake sales

India is poised to achieve its divestment aspirations this fiscal year, with enhanced momentum in stake sales and asset monetisation. Although increased fertiliser costs and fuel subsidies pose a challenge to public financial stability due to regional disputes, the country has already garnered over $5.5 billion from diverse stake sales.

The Economic Times

MDR on UPI will impact businesses, not users: FM Nirmala Sitharaman hits back at Congress' Jairam Ramesh

Sitharaman accused the opposition leader of "spreading a canard" and clarified that MDR "applies only on the merchants and not on the end users/customers," adding that the revenue would let banks and fintechs invest in infrastructure, innovation and security, benefits she said would eventually flow to all UPI users.

The Economic Times

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FM says MDR on UPI applies to merchants, not customers; fintechs, banks will invest more on security

Finance Minister Nirmala Sitharaman stated Merchant Discount Rate applies to merchants, not customers. This charge will support banks and fintech companies in infrastructure investment. A committee will decide on MDR after Parliament passes a taxation bill. The bill provides legal backing to modify the zero-MDR framework for digital payments. This…

The Economic Times

Capex push has revived private investment as India advances towards Viksit Bharat: Nirmala Sitharaman

Finance Minister Nirmala Sitharaman outlined Viksit Bharat's vision for a developed nation. She stated that 2047 is an immediate national horizon for progress. India's destiny is to be prosperous without losing its civilisational character. Early governance choices and post-2014 reforms shaped the developmental journey. Modern progress will be anchored in…

The Economic Times

Rajya Sabha passes Appropriation No.3 Bill authorising Rs 54,067 crore excess spending for FY23

The Rajya Sabha approved the Appropriation Bill for excess spending. This bill covers expenditures from the financial year ending March 31, 2023. One excess demand arose from a court order impacting the Railway Ministry. Another larger demand pertained to debt repayment of Rs 53,871 crore. Parliamentary approval was completed after…

The Economic Times

UPI transactions above Rs 2000 to attract MDR after debit, credit cards? Here’s what users need to know about the proposal

While there has been no official word from the government on this yet, it is learnt that the Centre could allow a levy of 0.25% to 0.4% as merchant discount rate (MDR) charges on UPI transactions above Rs 2000. So, does this mean that the proposal will directly impact you?…

The Economic Times

Indian economy to hit USD 5-trillion mark in FY29 as per IMF: FM

India's economic landscape is on a promising trajectory, aiming to exceed five trillion dollars by the fiscal year twenty twenty-nine. To attain this ambitious goal, the government is implementing a comprehensive growth strategy that emphasizes advancements in agriculture, manufacturing, and infrastructure. Key initiatives, including Production Linked Incentives and support for…

The Economic Times

Taxation laws amendment bill tabled in Lok Sabha: What the new tax bill changes for foreign investors

Finance Minister Nirmala Sitharaman introduced the Taxation and Other Laws (Amendment) Bill, 2026, proposing simpler rules for offshore investment funds managed from India to claim tax exemptions. The bill removes several eligibility conditions, including investor and corpus limits, while offering tax incentives for electronics, diamond trade and foreign investors.

The Economic Times

Manish Tewari submits adjournment notice in Lok Sabha seeking discussion on new anti-defection law to curb opportunistic mass defections

Congress MP Manish Tewari sought to suspend parliamentary business for urgent discussion. He proposed a new anti-defection law to curb opportunistic political defections. The proposed law aims to prevent defections while protecting principled dissent. Several bills, including the Taxation and Other Laws (Amendment) Bill, are scheduled.

The Economic Times

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The Economic Times

FM Sitharaman to introduce Taxation and Other Laws (Amendment) Bill as Lok Sabha takes up key financial business

Finance Minister Nirmala Sitharaman will introduce the Taxation and Other Laws (Amendment) Bill, 2026, in the Lok Sabha. This legislation seeks to amend key financial and tax-related acts for the upcoming year. The House will also discuss excess grants for the 2022-23 financial year. Following this, an Appropriation Bill will…

The Economic Times

Taxation laws amendment bill: Government proposes simplified exemption framework for offshore funds

A bill will soon simplify offshore investment fund rules. This aims to attract more foreign capital into India. Tax exemptions will be offered for global income of funds. Foreign companies storing electronic components will also get exemptions. These measures will boost India's position as an investment hub.

The Economic Times

Disputed tax demand down Rs 16,690 cr since hike in monetary limit for filing appeals, LS told

Higher monetary limits for tax appeals have reduced disputed tax demand by about ₹16,690 crore, with over 23,000 departmental cases withdrawn or not filed across ITAT, high courts and the Supreme Court.

The Economic Times

Budget has buffers to tackle global risks, no need to revisit govt's budget estimates yet, says Sitharaman

Union Finance Minister Nirmala Sitharaman stated no need to revise Budget estimates. Adequate fiscal buffers exist to manage global uncertainties and risks. Inflationary pressures may arise from both external and domestic factors. Industry investment is improving and critical sectors are seeing growth. The government invites industry engagement for further facilitation…

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The Economic Times

Finance minister Nirmala Sitharaman asks I-T officials to ease burden on honest taxpayers

Finance Minister Nirmala Sitharaman urged tax officials to ensure taxpayer convenience. She stressed firm action against tax evasion and economic certainty. Officials must adopt an empathetic approach while enforcing tax laws. Sitharaman outlined five priorities for the Income Tax Department. She advised officials to exercise their powers with humility and…

The Economic Times

CJP Jantar Mantar protest: Govt acted on NEET leak, PM's fast-track courts will ensure swift justice, says Sitharaman

CJP Delhi protests: Finance Minister Nirmala Sitharaman defended the government's swift response to the NEET paper leak. She stated that arrests were made promptly, and fast-track courts will ensure speedy justice. The minister acknowledged the sensitivity of examination paper leaks affecting students' careers. She emphasized that action was taken before…

The Economic Times

Rupee value is market-driven, has no target band against US dollar: FM Sitharaman

Finance Minister Nirmala Sitharaman stated the rupee's value is market-determined. The Reserve Bank of India monitors foreign exchange markets and intervenes when needed. Several measures are in place to boost foreign exchange inflows into India. These initiatives aim to ease pressure on the Indian rupee. The government closely tracks economic…

Newslaundry

A flagship 2024 promise, a 99% shortfall: PM internship scheme spent nearly as much on ads as interns

It was the summer of 2025. The advertisements about the Narendra Modi government’s new internship scheme were splashed across newspapers, TV channels and social media. Like lakhs of others, P Adarsh*, 22, noticed them from his hometown Bhilai in Chhattisgarh. After finishing his degree in agricultural engineering a while ago,…

The Economic Times

FM Nirmala Sitharaman calls for enhanced NRI outreach to sustain foreign currency mobilisation momentum

Finance Minister Nirmala Sitharaman urged banks to enhance outreach to Non Resident Indians. Banks are offering attractive returns on foreign currency deposits and are seeing significant interest. Public sector banks are employing customized digital strategies to engage the NRI diaspora effectively. International Banking Units at GIFT City are being utilized…

The Economic Times

FM Sitharaman to meet PSB chiefs to review foreign currency deposit drive

Finance Minister Nirmala Sitharaman will meet public sector bank chiefs Monday. They will review efforts to attract foreign currency deposits from overseas Indians. The Reserve Bank of India removed interest rate ceilings on certain deposits. This move aims to boost inflows and encourage external commercial borrowings. Banks will also discuss…

The Economic Times

FM Nirmala Sitharaman to meets heads of PSU banks on Mon, review foreign currency deposit mobilisation

Finance Minister Nirmala Sitharaman will meet public sector bank heads on Monday. The meeting will review progress on attracting foreign currency deposits from NRIs. RBI withdrew interest rate ceilings on certain foreign currency deposits until September 30. Concessional forex swap facilities are offered to banks for FCNR(B) deposits. This initiative…

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